1024 Catawba St · Lincolnton, NC 28092

$82,500

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 1 Days on market

Built 1940 0.48 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Two bedroom one bath open floor plan located on . 48 acre lot.

Key facts

• 0.48 acre lot
• Built 1940

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Water: Other (see remarks); Sewer: Other (see remarks)
• Home design: Single-family residential property; One story
• Construction: Site-built construction; Vinyl exterior; Crawl space foundation
• Exterior features: Lot approximately 0.48 acres; Lot dimensions: 26 x 76 x 204 x 103 x 208; Road surfaces include dirt and concrete; Publicly maintained road access

Interior

• Kitchen: No appliances included
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heating: Other (see remarks); Cooling: Other (see remarks)
• Interior features: Seven total rooms; Appliances: None
• Laundry & utility: Laundry located in the bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Cap rate 12.3% vs local median 2.8% in Lincolnton — 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 69/100 on livability (#148 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D+, amenities F, commute F.
• Lincoln County Schools (rural): math 57% / reading 55% proficiency, ranked #42 of 178 in NC (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lincolnton High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 813 students, 65% FRL) — zoned schools average 65% FRL vs 41% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.6%/yr); 290 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 697 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $570 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lincoln County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $23k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $82,500

Questions for the listing agent

1. Built in 1940 — 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 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?
4. Crime grade is D 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: 1.48% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.58%
• DSCR: 1.96
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $184,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
826 E Alexander St	0.64mi	2/1.0	870 (+9%)	6mo	$200,000	$230	50

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.41×
• Total profit: $9,524
• Equity at exit: $12,301

10-year hold

• IRR: 17.3%
• Equity multiple: 2.24×
• Total profit: $28,591
• Equity at exit: $7,133

Cash invested: $23,100 (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 28092

• Home prices YoY: -23.3%
• Rents YoY: -0.6%
• Active inventory: 290
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,217 high
• Mortgage (P&I): −$433
• Tax from tax record: −$79 /mo · $948/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $415

Break-even live

Break-even rent $691

Max offer price $82,500

Occupancy floor 61%

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 S Laurel St Lincolnton, NC	2.0	1.0	857	$1,200	$1.40	23d	1	0.39mi
720 E Pine St Lincolnton, NC	1.0	1.0	600	$950	$1.58	23d	1	0.42mi
1114 S Aspen St Lincolnton, NC	2.0	1.0	1111	$1,175	$1.06	17d	1	1.01mi
909 N Flint St Apt 919 Lincolnton, NC	2.0	1.0	850	$1,149	$1.35	23d	1	1.01mi
1114 S Aspen St Unit 3 Lincolnton, NC	2.0	1.0	914	$1,150	$1.26	23d	1	1.01mi
103 Neighborhood St Lincolnton, NC	2.0	1.0	781	$1,195	$1.53	20d	1	1.25mi
171 Donaldson Dr Lincolnton, NC	1.0–2.0	1.0–2.0	911	$1,400	$1.54	2d	14	1.47mi

Listing history 2 events

1. 2026-06-17
   remarks 62-char remark
2. 2026-06-17
   listed $82,500 Active 1 DOM

ⓘ 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: $948 · $79/mo
• Projected year-2 tax: $948 · $79/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,604
• − Mortgage interest: −$4,621
• − Property taxes: −$948
• − Insurance: −$412
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$2,400
• Taxable income: $3,885
• Est. tax owed @ 24.0%: −$932
• After-tax cash flow: $4,052/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: Lincoln County Schools
• NCES district ID: 3702680
• Math proficiency: 57% ▲ 7.00%
• Reading proficiency: 55% ▲ 1.00%
• Median HH income: $49,203
• Composite: 47.7/100
• National rank: #2242
• State rank: #42 of 178 in NC

Livability — Lincolnton

• Score: 69/100
• State rank: #148
• US rank: #8217

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincolnton, NC
• County: Lincoln County · 69,118 people
• City population: 40,350
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 40,350
• Household income: $60,984
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 1134.0

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 86,972 people
• By 2030: 89,467 · +2.9%
• By 2040: 93,107 · +7.1%
• By 2050: 94,304 · +8.4%
• By 2075: 95,190 · +9.4%
• By 2100: 90,096 · +3.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Black 9% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Serbian 1% Slovak 1%
• Foreign-born: 6% · Canada, Guatemala
• Languages at home: 90% English-only · Spanish 8% Russian/Polish/Slavic 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+45.7) · D 26.8% · R 72.5%
• 2008→2024 swing: -12.4pp toward R · 2008: -33.3pp · 2024: -45.7pp
• All cycles: 2024: R+45.7 2020: R+45.9 2016: R+47.7 2012: R+38.9 2008: R+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.94%
• Current HPI: 306.3997
• Rent YoY: ▼ -0.58%
• 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

+275.0% since first listed

11 events — show timeline

• 2026-06-17 Listed $82,500 CANOPYMLS as Distributed by MLS Grid
• 2025-10-28 Listed $140,000 CANOPYMLS as Distributed by MLS Grid
• 2025-06-24 Listed $140,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-02 Listed $125,000 CANOPYMLS as Distributed by MLS Grid
• 2024-04-25 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2021-10-26 Sold (Public Records) $100,000 Public Records
• 2021-08-12 Price Changed $110,000 CANOPYMLS as Distributed by MLS Grid
• 2021-07-30 Price Changed $97,000 CANOPYMLS as Distributed by MLS Grid
• 2021-04-15 Price Changed $85,000 CANOPYMLS as Distributed by MLS Grid
• 2021-03-17 Sold (Public Records) $60,000 Public Records
• 2012-12-17 Sold (MLS) $22,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $948 · +0.0% YoY. Source: county tax records.