124 Eastside Dr · Forest City, NC 28043

$112,000

3 bd · 1.0 ba · 1,022 sqft · SingleFamily public records · 80 Days on market

Built 1918 7,840 sqft lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 1-bathroom bungalow centrally located for convenience! This cozy home is just steps away from businesses, shopping, restaurants, coffee shops, and schools, making it the perfect spot for everyday living. Enjoy outdoor activities with access to the nearby Rails-to-Trails walking trail. The property features a natural gas furnace for efficient heating and includes a one-car carport. While the home requires a little TLC, it offers buyers an excellent opportunity to add their personal touch. Please note that no appliances will be conveyed, and there is no air conditioning. With city water and sewer services, this bungalow is ready to welcome its new owner. Don’t miss o

Key facts

• Centrally located
• Natural gas furnace
• 7,840 sq ft lot

Tags

• CENTRALLY LOCATED
• ACCESS TO WALKING TRAIL
• NATURAL GAS FURNACE
• CITY WATER AND SEWER SERVICES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $43 ($517/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (15.2% below list).
• Recommended offer: $95k (15.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#300 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime F, commute F.
• Rutherford County Schools (rural): math 43% / reading 44% proficiency, ranked #98 of 178 in NC (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Chase High School (math 67% / reading 47%, grade C, #248 of 535 statewide, top 48%, 660 students, 99% FRL) — zoned schools average 99% FRL vs 60% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 57% at this address vs 44% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Rutherford County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 110 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 193 units permitted in Rutherford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Rutherford County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,000 (15.2% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.65%
• DSCR: 1.07
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.51×
• Total profit: $-15,433
• Equity at exit: $16,700

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-10,015
• Equity at exit: $9,684

Cash invested: $31,360 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28043

• Home prices YoY: -5.1%
• Active inventory: 110
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$73 /mo · $881/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $43

Break-even live

Break-even rent $895

Max offer price $112,000

Occupancy floor 90%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
247 Arlington St Unit 303 Forest City, NC	2.0	1.0	803	$950	$1.18	20d	1	1.47mi

Listing history 4 events

1. 2026-04-01
   status Pending
2. 2026-02-25
   historical Active Under Contract
3. 2026-01-09
   status Pending
4. 2025-11-24
   listed $112,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $881 · $73/mo
• Projected year-2 tax: $918 · $77/mo
• Expected delta: +$37/yr (+$3/mo · 4.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,400
• − Mortgage interest: −$6,274
• − Property taxes: −$881
• − Insurance: −$560
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$3,258
• Taxable loss: −$1,397
• Est. tax savings @ 24.0%: +$335
• After-tax cash flow: $852/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rutherford County Schools
• NCES district ID: 3704080
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,490
• Composite: 36.11/100
• National rank: #4753
• State rank: #98 of 178 in NC

Livability — Forest City

• Score: 65/100
• State rank: #300
• US rank: #12532

Category grades

Amenities D+ Commute F Cost of living A+ Crime F Employment F Housing A Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest City, NC
• Population (ZIP): 20,896

Population outlook (Rutherford County) Hauer SSP2

• Today (2025): 63,695 people
• By 2030: 61,670 · -3.2%
• By 2040: 57,212 · -10.2%
• By 2050: 52,763 · -17.2%
• By 2075: 44,493 · -30.1%
• By 2100: 38,127 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 14% Hispanic / Latino 10% Two or more races 9%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 3% Iranian 1% Slovak 1%
• Foreign-born: 5% · Canada, Jamaica, Vietnam
• Languages at home: 91% English-only · Spanish 8% Vietnamese 1%

Political lean MEDSL · Rutherford

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -16.0pp toward R · 2008: -31.8pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+45.8 2016: R+47.9 2012: R+33.5 2008: R+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -14.54%
• Current HPI: 268.3645
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

4 events — show timeline

• 2026-04-01 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-02-25 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-01-09 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-11-24 Listed $112,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+14.7%/yr

Latest (2025): $881 · +3.8% YoY. Source: county tax records.