133 Penny Dr · Love Valley, NC 28625

$139,000

3 bd · 2.0 ba · 1,716 sqft · SingleFamily public records · 182 Days on market

Built 1997 0.55 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 +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Rent growth +3.2/5.0
• Livability +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated sellers offering a price adjustment for an Opportunity near Love Valley! Just minutes from Love Valley – the Cowboy Capital of the East! Situated on . 55 acres, this property offers affordability, flexibility, and room to create. This 3-bedroom, 2-bath home features: A working fireplace A fenced yard with a solar-powered gate and 473 sq. ft. of unfinished, unheated attached storage area. Here is an opportunity to create your own country retreat while staying close to local charm and outdoor adventure. Whether you are an investor or wanting something you can fix up a bit this may be your place. Another seller has a . 19 acre lot adjoining property at a very reasonabl

Key facts

• Working fireplace
• Unfinished space
• Solar powered gate

Tags

• WORKING FIREPLACE
• REMODELED BATH
• FENCED IN YARD
• SOLAR POWERED GATE
• ARCHITECTURAL SHINGLED ROOF
• UNFINISHED SPACE

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: No garage; No designated parking features listed
• Utilities: Well water; No public sewer
• Home design: Single-family manufactured home; One story; Crawl space foundation
• Construction: Vinyl exterior; Manufactured construction
• Exterior features: Private maintained road access; Dirt and gravel road surface

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Open living area (one main living room listed); Fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#689 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, crime F, amenities F.
• Iredell-Statesville Schools (rural): math 53% / reading 52% proficiency, ranked #51 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Central Elementary (math 82% / reading 72%, grade A, #38 of 1,410 statewide, top 3%, 383 students, 46% FRL); North Iredell High (math 37% / reading 51%, grade F, #367 of 535 statewide, top 69%, 962 students, 48% FRL).
• Market conditions: Rents rising (+2.7%/yr); 287 active listings in the ZIP; 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).
• This rent runs 33% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Iredell County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $60k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $139k implies a 99% gain — meaningful room to come down on a strong offer.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.89%
• DSCR: 1.80
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $384,384
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Kennington Ln	0.30mi	3/2.5	1,600 (-7%)	20mo	$359,000	$224	56

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 · 2.72% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.36×
• Total profit: $13,881
• Equity at exit: $20,725

10-year hold

• IRR: 18.0%
• Equity multiple: 2.47×
• Total profit: $57,405
• Equity at exit: $12,018

Cash invested: $38,920 (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 28625

• Home prices YoY: -22.3%
• Rents YoY: 2.7%
• Active inventory: 287
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,767 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$29 /mo · $344/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $580

Break-even live

Break-even rent $1,032

Max offer price $139,000

Occupancy floor 62%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $139,000 Active 182 DOM
2. 2026-06-17
   days on market $139,000 Active 181 DOM
3. 2026-06-16
   remarks 693-char remark
4. 2026-06-16
   pricedays on market $139,000 Active 180 DOM
5. 2026-06-15
   days on market $149,000 Active 179 DOM
6. 2026-06-13
   days on market $149,000 Active 177 DOM
7. 2026-06-13
   days on market $149,000 Active 176 DOM
8. 2026-06-09
   days on market $149,000 Active 173 DOM
9. 2026-06-08
   days on market $149,000 Active 172 DOM
10. 2026-06-07
    days on market $149,000 Active 171 DOM
11. 2026-06-04
    days on market $149,000 Active 168 DOM
12. 2026-06-03
    days on market $149,000 Active 167 DOM
13. 2026-06-02
    days on market $149,000 Active 166 DOM
14. 2026-06-01
    days on market $149,000 Active 165 DOM
15. 2026-05-31
    days on market $149,000 Active 164 DOM
16. 2026-05-06
    status Active
17. 2026-04-14
    historical Active Under Contract
18. 2026-04-02
    price $165,000
19. 2026-02-26
    price $175,000
20. 2026-01-16
    price $189,500
21. 2025-12-11
    listed $199,500 Active
22. 2024-09-23
    soldstatus $70,000

ⓘ 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: $344 · $29/mo
• Projected year-2 tax: $1,140 · $95/mo
• Expected delta: +$795/yr (+$66/mo · 230.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,204
• − Mortgage interest: −$7,786
• − Property taxes: −$344
• − Insurance: −$695
• − Repairs & maintenance: −$1,696
• − Management: −$1,696
• − Depreciation: −$4,044
• Taxable income: $4,942
• Est. tax owed @ 24.0%: −$1,186
• After-tax cash flow: $5,778/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: Iredell-Statesville Schools
• NCES district ID: 3702310
• Math proficiency: 53% ▲ 8.00%
• Reading proficiency: 52% ▲ 4.00%
• Median HH income: $51,201
• Composite: 44.98/100
• National rank: #2703
• State rank: #51 of 178 in NC

Livability — Love Valley

• Score: 52/100
• State rank: #689
• US rank: #24846

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 39,574
• Household income: $64,060
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 905.0

Population outlook (Iredell County) Hauer SSP2

• Today (2025): 194,510 people
• By 2030: 206,171 · +6.0%
• By 2040: 227,781 · +17.1%
• By 2050: 245,102 · +26.0%
• By 2075: 280,896 · +44.4%
• By 2100: 294,375 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 11% Hispanic / Latino 11% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Asian/Pacific 2%

Political lean MEDSL · Iredell

• 2024 margin: Solid R (+32.6) · D 33.2% · R 65.8%
• 2008→2024 swing: -8.2pp toward R · 2008: -24.4pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+32.4 2016: R+36.8 2012: R+30.5 2008: R+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.88%
• Current HPI: 237.0011
• Rent YoY: ▲ 2.72%
• 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

+135.7% since first listed

7 events — show timeline

• 2026-05-06 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-14 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $165,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $175,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-16 Price Changed $189,500 CANOPYMLS as Distributed by MLS Grid
• 2025-12-11 Listed $199,500 CANOPYMLS as Distributed by MLS Grid
• 2024-09-23 Sold (Public Records) $70,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $344 · +0.0% YoY. Source: county tax records.