148 Davie Dr · Cooleemee, NC 27028

$134,900

3 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 5 Days on market

Built 1920 7,840 sqft lot Est $163k · 17% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 148 Davie St, a charming 2-bedroom, 1-bath home with a warm and inviting feel. This home features a great front porch, large rooms, and a spacious living room that offers plenty of room to relax or entertain. The kitchen has fresh paint, adding a nice updated touch, and the overall layout feels comfortable and functional. Located in a quiet, quaint neighborhood, this home offers small-town charm while still being close to stores, shops, and restaurants. Whether you are looking for your first home, downsizing, or searching for an investment opportunity, this property has a lot to offer.

Key facts

• 7,840 sq ft lot
• Built 1920
• Listed 5 days

Property features AI

Finance

• HOA & community: No HOA; No community features

Exterior

• Parking: Parking spaces available
• Utilities: City water; Public sewer
• Home design: Single-family residence (site built); One level; R12 zoning
• Construction: Composition roof; Construction materials: Other (see remarks); Foundation: Basement and crawl space; Built on site
• Exterior features: Covered front porch; Cleared lot; Roads are gravel and paved; publicly maintained

Interior

• Kitchen: Electric cooktop; Electric oven; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Wood flooring; Linoleum flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central air; Heating: Other (see remarks)
• Interior features: 5 total rooms; Unfinished basement with exterior entry, walk-out access and storage space
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 11.3% vs local median 3.7% in Cooleemee — 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 68/100 on livability (#189 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Davie County Schools (rural): math 51% / reading 52% proficiency, ranked #57 of 178 in NC (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 219 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 250 units permitted in Davie County in 2024 (65 in 5+ unit buildings).
• This rent runs 31% of the median local income ($69k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Davie County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $55k; list at $135k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,900

Questions for the listing agent

1. Built in 1920 — 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 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?
4. 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.
5. 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.
6. 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: 1.34% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.76%
• DSCR: 1.79
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $162,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 S Davie St	0.06mi	2/1.0 (-1)	1,184 (-1%)	6mo	$122,000	$103	86
107 S Davie St	0.10mi	2/1.0 (-1)	1,148 (-4%)	1mo	$106,000	$92	83
118 Main St	0.11mi	2/1.0 (-1)	1,154 (-4%)	12mo	$130,000	$113	74
175 Duke St	0.21mi	3/2.0	1,172 (-2%)	16mo	$150,500	$128	70
135 Davie St	0.04mi	2/1.0 (-1)	1,322 (+10%)	19mo	$180,000	$136	60
135 Davie St	0.04mi	2/1.0 (-1)	1,322 (+10%)	19mo	$180,000	$136	60
130 Main St	0.09mi	2/1.0 (-1)	1,306 (+9%)	23mo	$169,900	$130	56
2057 Junction Rd	0.33mi	3/2.5	1,334 (+12%)	17mo	$259,000	$194	46
134 Joyner St	0.30mi	3/1.0	1,371 (+15%)	21mo	$175,000	$128	44
162 Westview Ave	0.31mi	2/2.0 (-1)	1,344 (+12%)	21mo	$192,000	$143	38
122 Lonnies Way	0.63mi	3/2.0	1,345 (+12%)	23mo	$200,000	$149	27
937 Gladstone Rd	0.73mi	2/2.0 (-1)	1,334 (+12%)	15mo	$207,000	$155	25

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: 9.2%
• Equity multiple: 1.36×
• Total profit: $13,727
• Equity at exit: $20,114

10-year hold

• IRR: 18.4%
• Equity multiple: 2.53×
• Total profit: $57,743
• Equity at exit: $11,664

Cash invested: $37,772 (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 27028

• Home prices YoY: -23.8%
• Active inventory: 219
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,807 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$105 /mo · $1,258/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $559

Break-even live

Break-even rent $1,099

Max offer price $134,900

Occupancy floor 64%

Sensitivity live

Price	-10% $635	-5% $597	+0% $559	+5% $521	+10% $483
Rent	-10% $416	-5% $488	+0% $559	+5% $630	+10% $702
Rate	-1.0pp $627	-0.5pp $593	base $559	+0.5pp $524	+1.0pp $488

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
164 Riverside Dr Mocksville, NC	3.0	1.0	942	$1,295	$1.37	13d	1	0.26mi

Listing history 12 events

1. 2026-06-10
   status $134,900 Pending 5 DOM
2. 2026-06-09
   days on market $134,900 Active 5 DOM
3. 2026-06-08
   days on market $134,900 Active 4 DOM
4. 2026-06-07
   statusdays on market $134,900 Active 3 DOM
5. 2026-06-03
   days on market $134,900 Coming Soon 6 DOM
6. 2026-06-02
   days on market $134,900 Coming Soon 5 DOM
7. 2026-06-01
   days on market $134,900 Coming Soon 4 DOM
8. 2026-05-31
   days on market $134,900 Coming Soon 3 DOM
9. 2026-05-31
   days on market $134,900 Coming Soon 2 DOM
10. 2026-05-29
    historical $134,900
11. 2016-06-22
    soldstatus $55,000
12. 2004-03-17
    soldstatus $54,000

ⓘ 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: $1,258 · $105/mo
• Projected year-2 tax: $1,258 · $105/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,682
• − Mortgage interest: −$7,556
• − Property taxes: −$1,258
• − Insurance: −$674
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$3,924
• Taxable income: $4,800
• Est. tax owed @ 24.0%: −$1,152
• After-tax cash flow: $5,555/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: Davie County Schools
• NCES district ID: 3701170
• Math proficiency: 51% ▲ 2.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $51,331
• Composite: 44.16/100
• National rank: #2860
• State rank: #57 of 178 in NC

Livability — Cooleemee

• Score: 68/100
• State rank: #189
• US rank: #9461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cooleemee, NC
• County: Davie County · 42,813 people
• City population: 921
• Metro: Winston-Salem, NC
• Population (ZIP): 26,566
• Household income: $69,137
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 512.0

Population outlook (Davie County) Hauer SSP2

• Today (2025): 42,613 people
• By 2030: 42,691 · +0.2%
• By 2040: 42,137 · -1.1%
• By 2050: 40,445 · -5.1%
• By 2075: 35,939 · -15.7%
• By 2100: 29,103 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 1%

Political lean MEDSL · Davie

• 2024 margin: Solid R (+46.5) · D 26.2% · R 72.6% · Other 1.2%
• 2008→2024 swing: -8.2pp toward R · 2008: -38.3pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+45.5 2016: R+48.1 2012: R+43.7 2008: R+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.58%
• Current HPI: 191.2464
• Rent YoY: —
• Metro: Winston-Salem, NC
• 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

+149.8% since first listed

3 events — show timeline

• 2026-05-29 Coming Soon $134,900 CANOPYMLS as Distributed by MLS Grid
• 2016-06-22 Sold (Public Records) $55,000 Public Records
• 2004-03-17 Sold (Public Records) $54,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $1,258 · +51.4% YoY. Source: county tax records.