218 Diana Rd · Cherryville, NC 28021

$249,000

3 bd · 2.0 ba · 1,680 sqft · SingleFamily · 8 Days on market

Built 2026 Good condition 1.21 ac lot Est $353k · 29% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• Condition / age +4.0/5.0
• DSCR +3.8/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Newly constructed home now available in the quiet parts of Gaston county! Located just outside of Cherryville, this location offers quick access to the beautiful town of Cherryville and a short drive to Lincolnton, Shelby or Hickory areas making sure you don't miss out. Whether you plan to spend all your time outdoors in nature, hanging out on the back deck or inside enjoying the natural light this home has to offer, come see this property!

Key facts

• Back deck
• 1.21 acre lot
• Built 2026

Tags

• QUIET PARTS OF GASTON COUNTY
• QUICK ACCESS TO CHERRYVILLE
• SHORT DRIVE TO LINCOLNTON
• SHORT DRIVE TO SHELBY
• SHORT DRIVE TO HICKORY
• BACK DECK

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parking
• Utilities: Well water; Septic system
• Home design: Manufactured single-family residence; One level
• Construction: Vinyl siding with shingle/shake accents; Permanent pier/pillar/post foundation; New construction; Built by Key Builders Inc (model: Cavco Phoenix)
• Exterior features: Publicly maintained road access; Road surface: gravel and paved

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (heating and cooling)
• Interior features: 5 total rooms; Heat pump for heating and cooling
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility / laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $249k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (13.8% below list).
• Recommended offer: $215k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.4% in Cherryville — 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 74/100 on livability (#59 in NC, #4,744 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Gaston County Schools (suburban): math 44% / reading 42% proficiency, ranked #93 of 178 in NC (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 125 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Gaston County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $214,733 (13.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.86% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $352,800
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2206 Whitworth Rd	0.15mi	3/2.0	1,775 (+6%)	9mo	$323,000	$182	76
101 Green Way Ave	0.72mi	3/2.0	1,674 (-0%)	6mo	$352,000	$210	61

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: -18.8%
• Equity multiple: 0.34×
• Total profit: $-46,062
• Equity at exit: $37,127

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-47,263
• Equity at exit: $21,529

Cash invested: $69,720 (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 28021

• Home prices YoY: -20.8%
• Active inventory: 125
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,147 medium
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $-91

Break-even live

Break-even rent $2,262

Max offer price $235,854

Occupancy floor 99%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Ramsey St Cherryville, NC	3.0	1.0	1088	$1,550	$1.42	14d	1	1.01mi
113 Suncrest Rd Cherryville, NC	3.0	2.0	1557	$2,000	$1.28	23d	1	1.22mi
104 Farmwood Dr Cherryville, NC	4.0	2.0	1684	$2,775	$1.65	21d	1	1.27mi

Listing history 1 events

1. 2026-05-15
   listed $249,000 Active

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,768
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$2,042
• − Repairs & maintenance: −$2,061
• − Management: −$2,061
• − Depreciation: −$7,244
• Taxable loss: −$5,324
• Est. tax savings @ 24.0%: +$1,278
• After-tax cash flow: $188/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 · 13 photos

Good 80/100 None rehab

This newly constructed home in Cherryville, NC is move-in ready with good condition and a good location. It offers a good investment opportunity with potential for value increase through minor exterior and interior updates.

Value-add opportunities

• Resale Painting exterior siding — Enhances curb appeal
• Resale Landscaping front yard — Improves curb appeal
• Resale Upgrading kitchen appliances — Modernizes kitchen
• Resale Upgrading bathroom fixtures — Modernizes bathroom

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting exterior siding — Enhances curb appeal ↑
• Resale Landscaping front yard — Improves curb appeal ↑
• Resale Upgrading kitchen appliances — Modernizes kitchen ↑
• Resale Upgrading bathroom fixtures — Modernizes bathroom ↑

ⓘ 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: Gaston County Schools
• NCES district ID: 3701620
• Math proficiency: 44% ▲ 4.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $43,644
• Composite: 36.39/100
• National rank: #4680
• State rank: #93 of 178 in NC

Livability — Cherryville

• Score: 74/100
• State rank: #59
• US rank: #4744

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,668

Population outlook (Gaston County) Hauer SSP2

• Today (2025): 230,027 people
• By 2030: 237,300 · +3.2%
• By 2040: 249,659 · +8.5%
• By 2050: 257,806 · +12.1%
• By 2075: 272,163 · +18.3%
• By 2100: 268,652 · +16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 4% Black 3%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Gaston

• 2024 margin: Strong R (+25.0) · D 37.0% · R 62.1%
• 2008→2024 swing: 0.0pp no change · 2008: -25.0pp · 2024: -25.0pp
• All cycles: 2024: R+25.0 2020: R+27.8 2016: R+32.1 2012: R+25.6 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.53%
• Current HPI: 294.7695
• Rent YoY: —
• Metro: —
• 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

• 2026-05-15 Listed $249,000 CANOPYMLS as Distributed by MLS Grid