3325 Statesville Blvd · Salisbury, NC 28147

$115,000

2 bd · 2.0 ba · 1,403 sqft · SingleFamily public records · 47 Days on market

Built 1942 0.46 ac lot

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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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for you to use your imagination. Property is zoned CBI, so it has multiple uses available. This was a residential home that was converted to a day care before the seller purchased it. The seller started rehab and decided to sell to pursue another venture. The property has had some demo done on the land and the interior. This could make a good rehab to a rental, rehab to sell, or a tear-down to start from scratch. Previous inspection report available.

Key facts

• 0.46 acre lot
• Built 1942
• Listed 47 days

Property features AI

Finance

• Other: Zoned CBI
• HOA & community: No HOA

Exterior

• Parking: Driveway parking
• Utilities: City water; Septic installed; Electricity connected
• Home design: Single-family residence; Residential property; One story; Crawl space foundation
• Construction: Site-built construction; Brick exterior
• Exterior features: Dirt road access; Road maintenance: Other (see remarks)

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Heat pump for heating; Heat pump for cooling
• Interior features: One-level living; Room count: 1
• Laundry & utility: Laundry: Other (see remarks)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.3% 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: Rents rising (+1.9%/yr); 187 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 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 $795 of loan paydown is wiped out by about $3k 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 47 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.07% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.21%
• DSCR: 1.37
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $296,033
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3325 Statesville Blvd	0.00mi	2/1.0	1,284 (-8%)	1mo	$90,000	$70	81
2655 Enon Church Rd	0.41mi	3/2.0 (+1)	1,398 (-0%)	13mo	$334,900	$240	65
2831 Enon Church Rd	0.32mi	3/2.0 (+1)	1,236 (-12%)	0mo	$283,000	$229	60
2799 Enon Church Rd	0.33mi	3/2.0 (+1)	1,483 (+6%)	23mo	$338,000	$228	51
404 Sycamore Rd	0.54mi	3/1.5 (+1)	1,556 (+11%)	8mo	$180,000	$116	43
330 Hurley School Rd	0.72mi	3/2.0 (+1)	1,438 (+2%)	18mo	$246,500	$171	42
201 Sycamore Rd	0.68mi	3/2.5 (+1)	1,320 (-6%)	23mo	$277,900	$211	32

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 · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-6,015
• Equity at exit: $17,147

10-year hold

• IRR: 3.2%
• Equity multiple: 1.22×
• Total profit: $7,161
• Equity at exit: $9,943

Cash invested: $32,200 (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 28147

• Home prices YoY: -18.4%
• Rents YoY: 1.9%
• Active inventory: 187
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$99 /mo · $1,194/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $220

Break-even live

Break-even rent $950

Max offer price $115,000

Occupancy floor 77%

Sensitivity live

Price	-10% $285	-5% $253	+0% $220	+5% $188	+10% $155
Rent	-10% $123	-5% $172	+0% $220	+5% $269	+10% $317
Rate	-1.0pp $278	-0.5pp $250	base $220	+0.5pp $191	+1.0pp $160

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 Ashbrook Rd Salisbury, NC	1.0–3.0	1.0–2.5	1150	$1,240	$1.08	4d	9	0.85mi
2345 Statesville Blvd Salisbury, NC	1.0–2.0	1.0	975	$1,250	$1.28	3d	4	1.20mi
100 Laurel Pointe Cir Salisbury, NC	2.0–3.0	2.0	1143	$1,240	$1.08	25d	8	1.35mi

Listing history 6 events

1. 2026-05-19
   status Pending
2. 2026-05-14
   price $115,000
3. 2026-05-08
   price $140,000
4. 2026-04-29
   price $150,000
5. 2026-04-02
   listed $160,000 Active
6. 2025-08-14
   soldstatus $115,000

ⓘ 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: $1,194 · $99/mo
• Projected year-2 tax: $1,194 · $99/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $14,747
• − Mortgage interest: −$6,442
• − Property taxes: −$1,194
• − Insurance: −$575
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$3,345
• Taxable income: $831
• Est. tax owed @ 24.0%: −$199
• After-tax cash flow: $2,445/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

• County: Rowan County · 103,630 people
• City population: 85,081
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 25,812
• Household income: $65,060
• Rent vs Own: 37.4% rent · 62.6% own
• Severe rent burden: 1025.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Black 21% Hispanic / Latino 17% Two or more races 8% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 10% Cuban 1%
• Common ancestry: Serbian 3% Slovak 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 14% German/W. Germanic 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: ▼ -60.00%
• Current HPI: 265.9739
• Rent YoY: ▲ 1.85%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-19 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-14 Price Changed $115,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-08 Price Changed $140,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $150,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Listed $160,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-14 Sold (Public Records) $115,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,194 · +0.0% YoY. Source: county tax records.