1512 Glenwood Ave · Salisbury, NC 28146

$164,900

3 bd · 2.0 ba · 1,580 sqft · SingleFamily public records · 25 Days on market

Built 1953 0.87 ac lot Est $269k · 39% under

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Why this score? — see what drove the C 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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.4/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

Key facts

• Attached garage
• Setback for privacy
• Hardwood floors

Tags

• HARDWOOD FLOORS
• FIREPLACE
• LARGE FRONT AND BACK YARD
• MATURE TREES
• SETBACK FOR PRIVACY
• ATTACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $162k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.2% in Salisbury — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#365 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities D-.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 230 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $35k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $162,426 (1.5% below list)

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $268,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1512 Glenwood Ave	0.00mi	3/2.0	1,580 (0%)	1mo	$145,000	$92	99
1426 E Council St	0.14mi	3/1.0	1,577 (-0%)	10mo	$204,777	$130	80
1325 Longview Ave	0.15mi	3/1.5	1,409 (-11%)	1mo	$195,000	$138	72
805 Brookmont Ave	0.64mi	3/2.0	1,604 (+2%)	2mo	$325,000	$203	66
510 Fairbluff Ave	0.40mi	3/2.0	1,435 (-9%)	2mo	$305,000	$213	64
103 Prestwick Ct	0.28mi	2/2.0 (-1)	1,669 (+6%)	11mo	$319,500	$191	64
517 Fairway Ridge Rd	0.36mi	2/2.0 (-1)	1,664 (+5%)	8mo	$350,000	$210	63
206 Fairfax Dr	0.60mi	3/1.5	1,561 (-1%)	8mo	$265,000	$170	61
714 Wesley Dr	0.43mi	3/2.0	1,410 (-11%)	8mo	$224,300	$159	56
129 Ann St	0.68mi	3/2.0	1,470 (-7%)	8mo	$245,000	$167	50
1904 Innes St	0.57mi	4/2.0 (+1)	1,411 (-11%)	3mo	$190,000	$135	48
215 Green St	0.67mi	3/2.5	1,400 (-11%)	4mo	$259,000	$185	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-11,162
• Equity at exit: $24,587

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $10,344
• Equity at exit: $14,258

Cash invested: $46,172 (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 28146

• Home prices YoY: -23.3%
• Active inventory: 230
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,721 high
• Mortgage (P&I): −$865
• Tax from tax record: −$182 /mo · $2,180/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $244

Break-even live

Break-even rent $1,412

Max offer price $164,900

Occupancy floor 81%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
718 Park Ave Salisbury, NC	3.0	2.0	1199	$1,700	$1.42	17d	1	0.72mi
135 Union Heights Blvd Unit B Salisbury, NC	3.0	2.5	1275	$1,825	$1.43	24d	1	0.83mi
829 Green St Salisbury, NC	3.0	2.0	1250	$1,600	$1.28	24d	1	0.91mi
1225 Beard St Salisbury, NC	3.0	2.0	1138	$1,495	$1.31	2d	1	1.01mi
1225 Beard St Salisbury, NC	3.0	2.0	1138	$1,495	$1.31	24d	1	1.01mi
808 Crown Point Dr Salisbury, NC	3.0	2.5	1500	$1,830	$1.22	24d	1	1.14mi
816 Crown Point Dr Salisbury, NC	3.0	3.0	1500	$3,500	$2.33	24d	1	1.16mi
1133 Davis St Salisbury, NC	3.0	2.5	1265	$1,500	$1.19	2d	1	1.28mi
1135 Davis St Salisbury, NC	3.0	2.5	1265	$1,500	$1.19	2d	1	1.28mi
1157 Davis St Salisbury, NC	3.0	2.5	1265	$1,500	$1.19	2d	1	1.29mi
1118 Davis St Salisbury, NC	3.0	2.5	1250	$1,500	$1.20	24d	1	1.29mi
1201 Davis St Salisbury, NC	3.0	2.5	1265	$1,500	$1.19	2d	1	1.31mi
1200 Grady St Unit Labs Salisbury, NC	3.0	2.0	1242	$1,395	$1.12	4d	1	1.33mi
1207 Davis St Unit 2 Salisbury, NC	3.0	2.5	1270	$1,600	$1.26	4d	1	1.33mi
1207 Davis St Unit 4 Salisbury, NC	2.0	2.5	1283	$1,550	$1.21	24d	1	1.33mi
1207 Davis St Unit 1 Salisbury, NC	3.0	2.5	1283	$1,550	$1.21	24d	1	1.33mi
1211 Tower Dr Salisbury, NC	3.0	2.5	1296	$1,495	$1.15	24d	1	1.33mi
706 N Main St Salisbury, NC	3.0	2.0	1176	$1,700	$1.45	17d	1	1.37mi
839 Carpenters Cir Salisbury, NC	3.0	2.0	1188	$1,560	$1.31	24d	1	1.43mi
918 N Main St Salisbury, NC	3.0	2.5	1548	$1,750	$1.13	24d	1	1.44mi
349 Pearl St Salisbury, NC	3.0	2.5	1564	$1,850	$1.18	4d	1	1.46mi
349 Pearl St Salisbury, NC	3.0	2.5	1618	$1,850	$1.14	12d	1	1.46mi
919 N Church St Salisbury, NC	3.0	1.0	1600	$1,549	$0.97	24d	1	1.49mi

Listing history 21 events

1. 2026-04-03
   status Pending
2. 2026-04-02
   price $164,900
3. 2026-03-26
   price $169,900
4. 2026-03-24
   price $179,900
5. 2026-03-23
   price $194,900
6. 2026-03-09
   listed $199,900 Active
7. 2019-09-27
   soldstatus $125,000
8. 2019-09-26
   soldstatus $125,000 Sold 241-char remark

   Show marketing remark (245 chars)

   Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

9. 2019-09-26
   soldstatus $125,000 Closed 245-char remark

   Show marketing remark (245 chars)

   Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

10. 2019-08-24
    status Pending 241-char remark

    Show marketing remark (241 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

11. 2019-08-06
    historical Under Contract - Show 245-char remark

    Show marketing remark (241 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

12. 2019-08-06
    historical Due Diligence Period 241-char remark

    Show marketing remark (241 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

13. 2019-07-22
    status Active 241-char remark

    Show marketing remark (241 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

14. 2019-07-14
    status Active 245-char remark

    Show marketing remark (245 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

15. 2019-07-08
    historical 245-char remark

    Show marketing remark (245 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

16. 2019-06-28
    historical 241-char remark

    Show marketing remark (245 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

17. 2019-06-28
    status Active 245-char remark

    Show marketing remark (245 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

18. 2019-06-12
    historical Under Contract - Show 245-char remark

    Show marketing remark (241 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

19. 2019-06-12
    historical Due Diligence Period 241-char remark

    Show marketing remark (241 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

20. 2019-06-07
    listed $129,900 Active 241-char remark

    Show marketing remark (245 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

21. 2019-06-07
    listed $129,900 Active 245-char remark

    Show marketing remark (245 chars)

    Convenient city location, Kitchen remodeled 2010, baths 2011, windows, doors. roof, hot water heater, washer, dryer within last 5 yrs, updated panel box 1 1/2 yrs. Ramp on the back of house for east access. freshly painted. come take a look!

ⓘ 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: $2,180 · $182/mo
• Projected year-2 tax: $2,180 · $182/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,646
• − Mortgage interest: −$9,237
• − Property taxes: −$2,180
• − Insurance: −$824
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − Depreciation: −$4,797
• Taxable income: $305
• Est. tax owed @ 24.0%: −$73
• After-tax cash flow: $2,856/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Salisbury

• Score: 64/100
• State rank: #365
• US rank: #14533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, NC
• County: Rowan County · 103,630 people
• City population: 85,081
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 31,292
• Household income: $69,279
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 299.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 7% Two or more races 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Italian 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.32%
• Current HPI: 273.7508
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

+26.9% since first listed

21 events — show timeline

• 2026-04-03 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $164,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $169,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-24 Price Changed $179,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $194,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-09 Listed $199,900 CANOPYMLS as Distributed by MLS Grid
• 2019-09-27 Sold (Public Records) $125,000 Public Records
• 2019-09-26 Sold (MLS) $125,000 CANOPYMLS as Distributed by MLS Grid
• 2019-09-26 Sold (MLS) $125,000 Triad MLS
• 2019-08-24 Pending — Triad MLS
• 2019-08-06 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2019-08-06 Contingent — Triad MLS
• 2019-07-22 Relisted — Triad MLS
• 2019-07-14 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2019-07-08 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2019-06-28 Delisted — Triad MLS
• 2019-06-28 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2019-06-12 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2019-06-12 Contingent — Triad MLS
• 2019-06-07 Listed $129,900 CANOPYMLS as Distributed by MLS Grid
• 2019-06-07 Listed $129,900 Triad MLS

Property tax history

+5.7%/yr

Latest (2025): $2,180 · +0.0% YoY. Source: county tax records.