2312 Kerr St · Mooresville, NC 28115

$78,000

3 bd · 2.0 ba · 900 sqft · SingleFamily · 14 Days on market

Built 1998 Good condition 4,000 sqft 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Recently renovated mobile home located in a quiet 55+community. All new appliances, light fixtures and HVAC. Vinyl siding, brick underpinning. Walk through the sliding glass door onto a cozy back deck. 10 x 12 Utility shed included.

Key facts

• New appliances
• Recently renovated
• Cozy back deck

Tags

• RECENTLY RENOVATED
• NEW APPLIANCES
• COZY BACK DECK
• UTILITY SHED INCLUDED

Property features AI

Exterior

• Home design: House; 900 sq ft living area
• Exterior features: 4,000 sq ft lot

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $78k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $906 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Cap rate 20.2% vs local median 2.9% in Mooresville — 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 73/100 on livability (#66 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: amenities F, commute F.
• Mooresville Graded School District (other): math 51% / reading 55% proficiency, ranked #49 of 178 in NC (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 488 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k 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 + 1.6% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

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 $78,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 2.34% ✓
• Cap rate: 20.23%
• Cash-on-cash: 49.77%
• DSCR: 3.21
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $256,500
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Indian Paint Brush Dr	0.08mi	2/1.0 (-1)	891 (-1%)	14mo	$250,000	$281	74
124 Cedarcroft Dr	0.27mi	2/1.0 (-1)	876 (-3%)	12mo	$250,000	$285	64

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 45.8%
• Equity multiple: 2.95×
• Total profit: $42,508
• Equity at exit: $11,630

10-year hold

• IRR: 51.0%
• Equity multiple: 5.63×
• Total profit: $101,145
• Equity at exit: $6,744

Cash invested: $21,840 (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 28115

• Rents YoY: 1.6%
• Active inventory: 488
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,829 high
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$98 /mo · $1,170/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $906

Break-even live

Break-even rent $682

Max offer price $78,000

Occupancy floor 45%

Sensitivity live

Price	-10% $960	-5% $933	+0% $906	+5% $879	+10% $852
Rent	-10% $761	-5% $834	+0% $906	+5% $978	+10% $1,050
Rate	-1.0pp $945	-0.5pp $926	base $906	+0.5pp $886	+1.0pp $865

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Foxglove Dr Statesville, NC	3.0	2.0	1076	$1,700	$1.58	24d	1	0.20mi
437 Cedarcroft Dr Mooresville, NC	3.0	2.0	1100	$1,800	$1.64	22d	1	0.23mi
1042 N Main St Mooresville, NC	2.0	2.0	1074	$1,380	$1.28	2d	5	0.30mi
518 W Park Ave Mooresville, NC	2.0	1.0	887	$1,195	$1.35	5d	1	0.31mi
616 Dixie Dr Mooresville, NC	3.0	1.0	1030	$1,615	$1.57	20d	1	0.48mi
36 Selma Dr Unit B Mooresville, NC	3.0	2.0	1100	$1,700	$1.55	24d	1	0.72mi
532 E Iredell Ave Unit B Mooresville, NC	2.0	1.0	755	$1,025	$1.36	24d	1	1.06mi

Listing history 10 events

1. 2026-06-18
   days on market $78,000 Active 14 DOM
2. 2026-06-17
   days on market $78,000 Active 13 DOM
3. 2026-06-16
   days on market $78,000 Active 12 DOM
4. 2026-06-15
   days on market $78,000 Active 11 DOM
5. 2026-06-13
   days on market $78,000 Active 9 DOM
6. 2026-06-09
   days on market $78,000 Active 5 DOM
7. 2026-06-08
   days on market $78,000 Active 4 DOM
8. 2026-06-07
   days on market $78,000 Active 3 DOM
9. 2026-06-04
   remarks 232-char remark
10. 2026-06-04
    listed $78,000 Active 1 DOM

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

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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,948
• − Mortgage interest: −$4,369
• − Property taxes: −$1,170
• − Insurance: −$390
• − Repairs & maintenance: −$1,756
• − Management: −$1,756
• − Depreciation: −$2,269
• Taxable income: $10,238
• Est. tax owed @ 24.0%: −$2,457
• After-tax cash flow: $8,414/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.

Condition & rehab AI · 3 photos

Good 75/100 Cosmetic rehab

This recently renovated mobile home in a quiet 55+ community is in good condition with minimal maintenance needed. Painting the exterior and trimming the bushes would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Trim bushes — Improves landscaping and enhances curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Trim bushes — Improves landscaping and enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mooresville Graded School District
• NCES district ID: 3703120
• Math proficiency: 51% ▼ -3.00%
• Reading proficiency: 55% ▬ 0.00%
• Median HH income: $54,800
• Composite: 45.72/100
• National rank: #2574
• State rank: #49 of 178 in NC

Livability — Mooresville

• Score: 73/100
• State rank: #66
• US rank: #5026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mooresville, NC
• County: Iredell County · 182,638 people
• City population: 92,370
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 43,544
• Household income: $87,787
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 803.0

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 (77%)
• Race & ethnicity: White 77% Black 10% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Iranian 3% Lithuanian 3% Romanian 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1% Vietnamese 1%

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: ▼ -135.96%
• Current HPI: 246.6181
• Rent YoY: ▲ 1.58%
• 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

1 event — show timeline

• 2026-06-04 Listed $78,000 ForSaleByOwner.com