167 Short Rd · Ellenboro, NC 28040

$85,500

3 bd · 1.0 ba · 1,350 sqft · SingleFamily public records · 102 Days on market

Built 1964 0.30 ac lot ↓ 35% since listing

---

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 +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Brick ranch on a large lot with a detached workshop. Solid home with hardwood floors and a great layout. Needs cosmetic updates, but priced accordingly. Great opportunity for an investor or buyer looking to build equity.

Key facts

• Great layout
• Large lot
• Detached workshop

Tags

• LARGE LOT
• DETACHED WORKSHOP
• HARDWOOD FLOORS
• GREAT LAYOUT

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached garage; 3 garage spaces; Has a garage
• Utilities: Water: Other (see remarks); Sewer: Other (see remarks)
• Home design: Single-family residential property; Site-built construction; One story (single level); R zoning
• Construction: Part brick and vinyl exterior; Crawl space foundation
• Exterior features: Lot includes both dirt and paved road frontage; Publicly maintained road access; Approximately 0.3 acre lot

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: 3 total rooms; Fireplace in the family room
• Laundry & utility: No laundry features specified

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $78k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#407 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime F, amenities F.
• Rutherford County Schools (rural): math 43% / reading 44% proficiency, ranked #98 of 178 in NC (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 48 active listings in the ZIP; 193 units permitted in Rutherford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $591 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Rutherford County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,805 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.66% ✓
• Cap rate: 13.96%
• Cash-on-cash: 27.37%
• DSCR: 2.22
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 1.87×
• Total profit: $20,933
• Equity at exit: $12,748

10-year hold

• IRR: 29.5%
• Equity multiple: 3.63×
• Total profit: $63,050
• Equity at exit: $7,392

Cash invested: $23,940 (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 28040

• Home prices YoY: -10.1%
• Active inventory: 48
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,416 medium
• Mortgage (P&I): −$448
• Tax from tax record: −$89 /mo · $1,062/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $546

Break-even live

Break-even rent $725

Max offer price $85,500

Occupancy floor 56%

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $85,500 Active 102 DOM
2. 2026-06-18
   days on market $85,500 Active 101 DOM
3. 2026-06-17
   days on market $85,500 Active 100 DOM
4. 2026-06-16
   days on market $85,500 Active 99 DOM
5. 2026-06-15
   days on market $85,500 Active 98 DOM
6. 2026-06-14
   days on market $85,500 Active 96 DOM
7. 2026-06-13
   days on market $85,500 Active 95 DOM
8. 2026-06-10
   days on market $85,500 Active 93 DOM
9. 2026-06-09
   days on market $85,500 Active 92 DOM
10. 2026-06-08
    days on market $85,500 Active 91 DOM
11. 2026-06-07
    days on market $85,500 Active 90 DOM
12. 2026-06-02
    days on market $85,500 Active 85 DOM
13. 2026-06-01
    pricedays on market $85,500 Active 84 DOM
14. 2026-05-31
    days on market $94,500 Active 83 DOM
15. 2026-05-30
    days on market $94,500 Active 82 DOM
16. 2026-04-29
    price $94,500
17. 2026-04-21
    price $104,500
18. 2026-04-08
    price $116,550
19. 2026-03-19
    price $129,500
20. 2026-03-09
    listed $144,900 Active

ⓘ 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: $1,062 · $89/mo
• Projected year-2 tax: $1,062 · $89/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 ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $16,991
• − Mortgage interest: −$4,789
• − Property taxes: −$1,062
• − Insurance: −$428
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$2,487
• Taxable income: $5,506
• Est. tax owed @ 24.0%: −$1,321
• After-tax cash flow: $5,231/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: Rutherford County Schools
• NCES district ID: 3704080
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,490
• Composite: 36.11/100
• National rank: #4753
• State rank: #98 of 178 in NC

Livability — Ellenboro

• Score: 63/100
• State rank: #407
• US rank: #15416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ellenboro, NC
• Population (ZIP): 7,047

Population outlook (Rutherford County) Hauer SSP2

• Today (2025): 63,695 people
• By 2030: 61,670 · -3.2%
• By 2040: 57,212 · -10.2%
• By 2050: 52,763 · -17.2%
• By 2075: 44,493 · -30.1%
• By 2100: 38,127 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 4% Hispanic / Latino 4%
• Common ancestry: Serbian 3% Italian 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Rutherford

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -16.0pp toward R · 2008: -31.8pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+45.8 2016: R+47.9 2012: R+33.5 2008: R+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.84%
• Current HPI: 274.2615
• 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

-34.8% since first listed

5 events — show timeline

• 2026-04-29 Price Changed $94,500 CANOPYMLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $104,500 CANOPYMLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $116,550 CANOPYMLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $129,500 CANOPYMLS as Distributed by MLS Grid
• 2026-03-09 Listed $144,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $1,062 · +7.2% YoY. Source: county tax records.