55 Nc 37 Hwy S · Gatesville, NC 27938

$145,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 3 Days on market

Built 1969 8,276 sqft 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 +17.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Appreciation +5.4/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Cozy bungalow style home featuring 3 bedrooms and 1 bath. Living room and kitchen with dining area. Back porch has washer/dryer hookup. Hardwood floors. Heat/air does not work. With just a little TLC, this would make an affordable home for a small family. Priced to sell waybelow tax value!

Key facts

• Fresh paint
• Linen closet
• Mudroom utility room

Tags

• HARDWOOD FLOORS
• LVP THROUGHOUT KITCHEN
• UPDATED BATHROOM
• LINEN CLOSET
• MUDROOM UTILITY ROOM
• FRESH PAINT

Property features AI

Finance

• Other: Zoned R-1; Lot dimensions approximately 182 x 98 x 180 x 98 (0.19 acres); Road frontage on city street and state road; frontage details: see remarks

Exterior

• Parking: Gravel, unpaved parking
• Utilities: Public water; Water connected; Septic tank
• Home design: Single-family residence; One story; Entry at level 1; Residential property
• Construction: Vinyl siding and frame construction
• Exterior features: Covered front porch; Shed(s); Has a view; Shingle roof

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: 5 total rooms
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Ceiling fan(s); Unfurnished
• Laundry & utility: Washer hookup; Laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (13.6% below list).
• Recommended offer: $125k (13.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#400 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, amenities F, commute F.
• Gates County Schools (rural): math 28% / reading 42% proficiency, ranked #129 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gatesville Elementary (math 42% / reading 52%, grade D-, #497 of 1,410 statewide, top 38%, 260 students, 63% FRL); Central Middle School (math 24% / reading 39%, grade F, #323 of 475 statewide, top 68%, 345 students, 53% FRL); Gates County Senior High (math 32% / reading 52%, grade F, #374 of 535 statewide, top 71%, 479 students, 50% FRL).
• Market conditions: 7 active listings in the ZIP; 14 units permitted in Gates County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.8% local appreciation)).
• Gates County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $100k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; moderate wildfire 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 $125,244 (13.6% below list)

Questions for the listing agent

1. Built in 1969 — 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 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?
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: 0.86% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.31%
• DSCR: 1.15
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.20×
• Total profit: $8,005
• Equity at exit: $47,610

10-year hold

• IRR: 8.5%
• Equity multiple: 2.01×
• Total profit: $40,979
• Equity at exit: $61,832

Cash invested: $40,600 (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 27938

• Home prices YoY: 0.4%
• Active inventory: 7
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,252 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$57 /mo · $680/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $112

Break-even live

Break-even rent $1,111

Max offer price $145,000

Occupancy floor 86%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $145,000 Active 3 DOM
2. 2026-06-17
   days on market $145,000 Active 2 DOM
3. 2026-06-16
   days on marketlisting id $145,000 Active 1 DOM
4. 2026-06-15
   days on market $145,000 Active 4 DOM
5. 2026-06-13
   remarks 603-char remark
6. 2026-06-13
   listed $145,000 Active 2 DOM

ⓘ 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: $680 · $57/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$509/yr (+$42/mo · 74.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,029
• − Mortgage interest: −$8,122
• − Property taxes: −$680
• − Insurance: −$725
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$4,218
• Taxable loss: −$1,121
• Est. tax savings @ 24.0%: +$269
• After-tax cash flow: $1,612/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: Gates County Schools
• NCES district ID: 3701680
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $47,737
• Composite: 30.08/100
• National rank: #6345
• State rank: #129 of 178 in NC

Livability — Gatesville

• Score: 63/100
• State rank: #400
• US rank: #15297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,863

Population outlook (Gates County) Hauer SSP2

• Today (2025): 10,225 people
• By 2030: 9,543 · -6.7%
• By 2040: 8,136 · -20.4%
• By 2050: 6,808 · -33.4%
• By 2075: 5,045 · -50.7%
• By 2100: 4,589 · -55.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 51% White 42% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Gates

• 2024 margin: Strong R (+21.7) · D 38.7% · R 60.4%
• 2008→2024 swing: -26.9pp toward R · 2008: 5.2pp · 2024: -21.7pp
• All cycles: 2024: R+21.7 2020: R+13.8 2016: R+9.0 2012: D+4.0 2008: D+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.75%
• Current HPI: 178.4598
• 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

+314.3% since first listed

5 events — show timeline

• 2026-06-11 Listed $145,000 Hive MLS
• 2025-12-12 Sold (Public Records) $100,000 Public Records
• 2018-02-14 Sold (Public Records) $105,000 Public Records
• 2013-09-19 Sold (MLS) $20,000 RVLG
• 2013-07-20 Listed $35,000 RVLG

Property tax history

+6.6%/yr

Latest (2025): $680 · -0.1% YoY. Source: county tax records.