130 Susan Rd #2 · Casar, NC 28020

$150,000

3 bd · 1.5 ba · 960 sqft · SingleFamily public records · 401 Days on market

Built 2001 1.60 ac lot ↓ 33% since listing

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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 +7.7/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• Schools +4.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.4/10.0

Listing remarks

Motivated seller! Will consider all reasonable offers. This 3 bedroom, 1.5 bath home is situated on a hillside with plenty of mature trees surrounding it. Enter through the covered front porch and enjoy the open floorplan. The primary bedroom features an ensuite bathroom. Enjoy the peace and quiet of country living.

Key facts

• Covered front porch
• Country living
• Open floorplan

Tags

• COVERED FRONT PORCH
• OPEN FLOORPLAN
• ENSUITE BATHROOM
• MATURE TREES
• COUNTRY LIVING

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway access; No main-level garage
• Utilities: County water; Septic system installed
• Home design: Single-family residence; Site-built; One level; R zoned
• Construction: Hardboard siding; Crawl space foundation
• Exterior features: Front porch; Wooded lot; Gravel road access (private maintained road)

Interior

• Kitchen: Dishwasher; Electric oven; Electric range
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning; Ceiling fan(s)
• Interior features: 8 rooms; Heat pump; Ceiling fans; Central air
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (20.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (36.0% below list).
• Recommended offer: $96k (36.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#531 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Cleveland County Schools (rural): math 47% / reading 49% proficiency, ranked #76 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Casar Elementary (math 72% / reading 47%, grade B-, #205 of 1,410 statewide, top 16%, 278 students, 99% FRL); Burns High (math 42% / reading 59%, grade D+, #306 of 535 statewide, top 57%, 934 students, 60% FRL) — zoned schools average 79% FRL vs 59% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 15 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (4.0% local appreciation)).
• Cleveland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 401 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $96,028 (36.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 401 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
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 D-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: 0.64% ✗
• Cap rate: 4.92%
• Cash-on-cash: -4.91%
• DSCR: 0.78
• GRM: 13.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.35×
• Total profit: $14,737
• Equity at exit: $75,600

10-year hold

• IRR: 8.4%
• Equity multiple: 2.40×
• Total profit: $58,660
• Equity at exit: $123,291

Cash invested: $42,000 (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 28020

• Home prices YoY: 1.9%
• Active inventory: 15
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $960 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$81 /mo · $976/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $-172

Break-even live

Break-even rent $1,178

Max offer price $119,639

Occupancy floor —

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $150,000 Active 401 DOM
2. 2026-06-18
   days on market $150,000 Active 400 DOM
3. 2026-06-17
   days on market $150,000 Active 399 DOM
4. 2026-06-16
   days on market $150,000 Active 398 DOM
5. 2026-06-15
   days on market $150,000 Active 397 DOM
6. 2026-06-14
   days on market $150,000 Active 395 DOM
7. 2026-06-13
   days on market $150,000 Active 394 DOM
8. 2026-06-10
   days on market $150,000 Active 392 DOM
9. 2026-06-09
   days on market $150,000 Active 391 DOM
10. 2026-06-08
    days on market $150,000 Active 390 DOM
11. 2026-06-07
    days on market $150,000 Active 389 DOM
12. 2026-06-05
    days on market $150,000 Active 386 DOM
13. 2026-06-03
    days on market $150,000 Active 385 DOM
14. 2026-06-02
    days on market $150,000 Active 384 DOM
15. 2026-06-01
    days on market $150,000 Active 383 DOM
16. 2026-05-31
    days on market $150,000 Active 382 DOM
17. 2026-05-30
    days on market $150,000 Active 381 DOM
18. 2026-04-01
    price $150,000
19. 2025-12-16
    price $165,000
20. 2025-05-14
    listed $179,900 Active
21. 2024-10-15
    price $205,000
22. 2024-05-10
    listed $225,000 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: $976 · $81/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$254/yr (+$21/mo · 26.0%)

ⓘ 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 5/10 Major 7 d/yr ≥104°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: $11,523
• − Mortgage interest: −$8,402
• − Property taxes: −$976
• − Insurance: −$750
• − Repairs & maintenance: −$922
• − Management: −$922
• − Depreciation: −$4,364
• Taxable loss: −$4,813
• Est. tax savings @ 24.0%: +$1,155
• After-tax cash flow: $-907/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: Cleveland County Schools
• NCES district ID: 3700900
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 4.00%
• Median HH income: $38,501
• Composite: 40.03/100
• National rank: #3823
• State rank: #76 of 178 in NC

Livability — Casar

• Score: 59/100
• State rank: #531
• US rank: #19645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,344

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 93,671 people
• By 2030: 91,157 · -2.7%
• By 2040: 85,519 · -8.7%
• By 2050: 79,708 · -14.9%
• By 2075: 68,317 · -27.1%
• By 2100: 57,145 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Black 2% Two or more races 2%
• Common ancestry: Italian 10% Romanian 3% Serbian 2%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cleveland

• 2024 margin: Solid R (+35.0) · D 32.2% · R 67.2%
• 2008→2024 swing: -15.1pp toward R · 2008: -19.9pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+32.8 2016: R+30.6 2012: R+20.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.95%
• Current HPI: 215.1895
• 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

-33.3% since first listed

5 events — show timeline

• 2026-04-01 Price Changed $150,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-16 Price Changed $165,000 CANOPYMLS as Distributed by MLS Grid
• 2025-05-14 Listed $179,900 CANOPYMLS as Distributed by MLS Grid
• 2024-10-15 Price Changed $205,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-10 Listed $225,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $976 · +37.8% YoY. Source: county tax records.