2184 Stove Dr · Newton, NC 28658

$98,900

3 bd · 2.0 ba · 984 sqft · Manufactured · 74 Days on market

Built 1999 0.48 ac 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 +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a fixer-upper or investment property, don’t miss this opportunity. Tree lined front yard gives you privacy for sitting on the covered front porch. Property includes a new roof in 2025 and outbuilding for storage. Cash transactions only. Sold AS IS

Key facts

• Covered front porch
• New roof
• 0.48 acre lot

Tags

• TREE LINED FRONT YARD
• COVERED FRONT PORCH
• NEW ROOF
• OUTBUILDING FOR STORAGE

Property features AI

Finance

• Other: Zoned R-40
• HOA & community: No HOA

Exterior

• Parking: Driveway parking; 3 open parking spaces
• Utilities: Private well water; Septic system; Cable available
• Home design: Manufactured singlewide home; Single-story
• Construction: Manufactured construction; Aluminum exterior; Aluminum roof; Crawl space foundation; Built on one level
• Exterior features: Covered patio/porch; Front porch; Rear porch; Level, private, wooded lot; Outbuilding on the property; Gravel and paved road access

Interior

• Kitchen: Electric oven; Electric range; Exhaust hood; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Split bedroom layout; Mud room
• Laundry & utility: Mud room (laundry features)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 2.9% in Newton — 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 (#77 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Catawba County Schools (rural): math 54% / reading 51% proficiency, ranked #54 of 178 in NC (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Balls Creek Elementary (math 65% / reading 51%, grade C+, #236 of 1,410 statewide, top 17%, 679 students, 57% FRL); Bandys High (math 72% / reading 72%, grade B+, #107 of 535 statewide, top 21%, 864 students, 33% FRL) — zoned schools at 45% FRL track the district average.
• Zoned-school proficiency averages 65% at this address vs 52% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Catawba County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 228 active listings in the ZIP; 2,016 units permitted in Catawba County in 2024 (255 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Catawba County population projected to shrink 7% 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.

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 $92,966 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. Crime grade is D 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: 1.61% ✓
• Cap rate: 13.26%
• Cash-on-cash: 24.89%
• DSCR: 2.11
• GRM: 5.2

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: 18.3%
• Equity multiple: 1.74×
• Total profit: $20,580
• Equity at exit: $14,746

10-year hold

• IRR: 26.7%
• Equity multiple: 3.35×
• Total profit: $65,123
• Equity at exit: $8,551

Cash invested: $27,692 (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 28658

• Home prices YoY: -23.3%
• Active inventory: 228
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,592 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,484/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $574

Break-even live

Break-even rent $865

Max offer price $98,900

Occupancy floor 59%

Sensitivity live

Price	-10% $643	-5% $609	+0% $574	+5% $540	+10% $506
Rent	-10% $449	-5% $511	+0% $574	+5% $637	+10% $700
Rate	-1.0pp $624	-0.5pp $600	base $574	+0.5pp $549	+1.0pp $523

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $98,900 Active 74 DOM
2. 2026-06-18
   days on market $98,900 Active 71 DOM
3. 2026-06-17
   days on market $98,900 Active 70 DOM
4. 2026-06-16
   days on market $98,900 Active 69 DOM
5. 2026-06-15
   days on market $98,900 Active 68 DOM
6. 2026-06-13
   days on market $98,900 Active 66 DOM
7. 2026-06-13
   days on market $98,900 Active 65 DOM
8. 2026-06-09
   days on market $98,900 Active 62 DOM
9. 2026-06-08
   days on market $98,900 Active 61 DOM
10. 2026-06-07
    days on market $98,900 Active 60 DOM
11. 2026-06-04
    days on market $98,900 Active 57 DOM
12. 2026-06-03
    days on market $98,900 Active 56 DOM
13. 2026-06-02
    days on market $98,900 Active 55 DOM
14. 2026-06-01
    days on market $98,900 Active 54 DOM
15. 2026-05-31
    days on market $98,900 Active 53 DOM
16. 2026-04-07
    listed $98,900 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,107
• − Mortgage interest: −$5,540
• − Property taxes: −$1,484
• − Insurance: −$494
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$2,877
• Taxable income: $5,654
• Est. tax owed @ 24.0%: −$1,357
• After-tax cash flow: $5,535/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: Catawba County Schools
• NCES district ID: 3700690
• Math proficiency: 54% ▲ 9.00%
• Reading proficiency: 51% ▲ 3.00%
• Median HH income: $48,180
• Composite: 44.71/100
• National rank: #2754
• State rank: #54 of 178 in NC

Livability — Newton

• Score: 73/100
• State rank: #77
• US rank: #5536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 25,681

Population outlook (Catawba County) Hauer SSP2

• Today (2025): 156,513 people
• By 2030: 155,267 · -0.8%
• By 2040: 151,110 · -3.5%
• By 2050: 145,524 · -7.0%
• By 2075: 134,047 · -14.4%
• By 2100: 119,424 · -23.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 12% Black 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 11% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Catawba

• 2024 margin: Solid R (+38.0) · D 30.6% · R 68.6%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.0pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+37.0 2016: R+38.0 2012: R+29.6 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.85%
• Current HPI: 262.8541
• 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

• 2026-04-07 Listed $98,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2024): $74 · +4.5% YoY. Source: county tax records.