703 Buffalo St · Shelby, NC 28150

$137,499

3 bd · 2.0 ba · 1,272 sqft · SingleFamily public records · 168 Days on market

Built 1940 6,534 sqft lot Est $214k · 36% 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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +4.9/10.0
• Rent growth +4.2/5.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.5/10.0

Listing remarks MLS

This is a 3 bedroom, 2 bath home. It is only heated by two gas heaters. Spacious rooms. Enclosed front porch. Living Room plus Dining room. There is a detached garage type/storage building.

Key facts

• New screen door
• Ceiling fans
• New kitchen windows

Tags

• DUAL AC AND HEATING SYSTEM
• NEW KITCHEN WINDOWS
• NEW SCREEN DOOR
• UPDATED WINDOW CLAMPS
• MODERN LIGHTING FIXTURES
• CEILING FANS

Property features AI

Finance

• HOA & community: No HOA dues

Exterior

• Parking: Shared driveway
• Utilities: City water; Public sewer
• Home design: Single family residence; Residential property; One story
• Construction: Site-built construction; Wood construction; Metal roof; Crawl space foundation
• Exterior features: Enclosed patio/porch; Road access is on dirt and paved surfaces; Publicly maintained road

Interior

• Kitchen: Exhaust hood
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms (on the main level)
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Exhaust hood; 10 rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/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 $136k (1.3% below list).
• Recommended offer: $121k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#52 in NC, #4,349 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment F.
• Cleveland County Schools (rural): math 47% / reading 49% proficiency, ranked #76 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Graham Elementary (math 17% / reading 27%); Shelby Middle (math 25% / reading 42%, grade F, #299 of 475 statewide, top 64%, 630 students, 81% FRL); Shelby High (math 17% / reading 52%, grade F, #427 of 535 statewide, top 81%, 825 students, 65% FRL).
• Zoned-school proficiency averages 30% at this address vs 48% district-wide (-18 pts) — the specific schools serving this property underperform the Cleveland County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.7%/yr); 247 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $950 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cleveland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $32k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $137k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $120,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 8.46%
• Cash-on-cash: 7.76%
• DSCR: 1.35
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $213,696
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 Hudson St	0.05mi	3/2.5	1,335 (+5%)	3mo	$215,000	$161	85
424 Airline Ave	0.13mi	3/2.5	1,335 (+5%)	1mo	$196,000	$147	82
823 Frederick St	0.20mi	3/2.0	1,203 (-5%)	2mo	$220,000	$183	80
613 Buffalo St	0.05mi	3/2.5	1,335 (+5%)	12mo	$248,000	$186	78
712 N Washington St	0.34mi	3/2.0	1,363 (+7%)	2mo	$229,000	$168	70
318 E Sumter St	0.44mi	3/2.0	1,148 (-10%)	4mo	$70,000	$61	60
211 Chestnut St	0.55mi	3/2.5	1,335 (+5%)	12mo	$245,000	$184	54
951 Hardin Dr	0.74mi	3/2.0	1,225 (-4%)	8mo	$265,000	$216	53
746 Vale St	0.60mi	3/1.5	1,428 (+12%)	1mo	$200,000	$140	49
123 N Poston St	0.63mi	2/2.0 (-1)	1,382 (+9%)	11mo	$150,000	$109	42
605 Oakley St	0.48mi	2/1.0 (-1)	1,086 (-15%)	3mo	$82,625	$76	42
953 Hardin Dr	0.74mi	3/2.0	1,082 (-15%)	2mo	$239,900	$222	38

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 · 6.66% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,307
• Equity at exit: $20,502

10-year hold

• IRR: 12.0%
• Equity multiple: 2.09×
• Total profit: $41,970
• Equity at exit: $11,888

Cash invested: $38,500 (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 28150

• Home prices YoY: -2.0%
• Rents YoY: 6.7%
• Active inventory: 247
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,358 medium
• Mortgage (P&I): −$721
• Tax from tax record: −$45 /mo · $543/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $249

Break-even live

Break-even rent $1,043

Max offer price $137,499

Occupancy floor 77%

Sensitivity live

Price	-10% $327	-5% $288	+0% $249	+5% $210	+10% $171
Rent	-10% $142	-5% $195	+0% $249	+5% $302	+10% $356
Rate	-1.0pp $318	-0.5pp $284	base $249	+0.5pp $213	+1.0pp $177

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-22
   days on market $137,499 Active 168 DOM
2. 2026-06-19
   days on market $137,499 Active 166 DOM
3. 2026-06-18
   days on market $137,499 Active 165 DOM
4. 2026-06-17
   days on market $137,499 Active 164 DOM
5. 2026-06-16
   days on market $137,499 Active 163 DOM
6. 2026-06-15
   days on market $137,499 Active 162 DOM
7. 2026-06-14
   days on market $137,499 Active 160 DOM
8. 2026-06-13
   days on market $137,499 Active 159 DOM
9. 2026-06-10
   days on market $137,499 Active 157 DOM
10. 2026-06-09
    days on market $137,499 Active 156 DOM
11. 2026-06-08
    days on market $137,499 Active 155 DOM
12. 2026-06-07
    days on market $137,499 Active 154 DOM
13. 2026-06-05
    days on market $137,499 Active 151 DOM
14. 2026-06-03
    days on market $137,499 Active 150 DOM
15. 2026-06-02
    days on market $137,499 Active 149 DOM
16. 2026-06-01
    days on market $137,499 Active 148 DOM
17. 2026-05-31
    days on market $137,499 Active 147 DOM
18. 2026-05-30
    days on market $137,499 Active 146 DOM
19. 2026-05-10
    price $137,499
20. 2026-04-08
    price $139,999
21. 2026-04-07
    status Active
22. 2026-04-04
    historical Active Under Contract
23. 2026-04-01
    status Pending
24. 2026-03-17
    price $149,999
25. 2026-02-22
    price $154,999
26. 2026-02-02
    price $159,999
27. 2026-01-01
    listed $169,999 Active
28. 2025-06-17
    soldstatus $80,000 Closed 194-char remark

    Show marketing remark (194 chars)

    This is a 3 bedroom, 2 bath home. It is only heated by two gas heaters. Spacious rooms. Enclosed front porch. Living Room plus Dining room. There is a detached garage type/storage building.

29. 2025-06-17
    soldstatus $80,000

    Show marketing remark (194 chars)

    This is a 3 bedroom, 2 bath home. It is only heated by two gas heaters. Spacious rooms. Enclosed front porch. Living Room plus Dining room. There is a detached garage type/storage building.

30. 2025-05-21
    historical Active Under Contract 194-char remark

    Show marketing remark (194 chars)

    This is a 3 bedroom, 2 bath home. It is only heated by two gas heaters. Spacious rooms. Enclosed front porch. Living Room plus Dining room. There is a detached garage type/storage building.

31. 2025-05-08
    price $85,000 194-char remark

    Show marketing remark (194 chars)

    This is a 3 bedroom, 2 bath home. It is only heated by two gas heaters. Spacious rooms. Enclosed front porch. Living Room plus Dining room. There is a detached garage type/storage building.

32. 2024-12-13
    listed $99,900 Active 194-char remark

    Show marketing remark (194 chars)

    This is a 3 bedroom, 2 bath home. It is only heated by two gas heaters. Spacious rooms. Enclosed front porch. Living Room plus Dining room. There is a detached garage type/storage building.

ⓘ 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: $543 · $45/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$584/yr (+$49/mo · 107.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,290
• − Mortgage interest: −$7,702
• − Property taxes: −$543
• − Insurance: −$687
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$4,000
• Taxable income: $751
• Est. tax owed @ 24.0%: −$180
• After-tax cash flow: $2,806/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: Cleveland County Schools
• NCES district ID: 3700900
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 4.00%
• Median HH income: $38,501
• Composite: 40.03/100
• National rank: #3823
• State rank: #76 of 178 in NC

Livability — Shelby

• Score: 75/100
• State rank: #52
• US rank: #4349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelby, NC
• County: Cleveland County · 83,736 people
• City population: 26,134
• Metro: Shelby, NC
• Population (ZIP): 28,142
• Household income: $55,832
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 790.0

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 93,671 people
• By 2030: 91,157 · -2.7%
• By 2040: 85,519 · -8.7%
• By 2050: 79,708 · -14.9%
• By 2075: 68,317 · -27.1%
• By 2100: 57,145 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 27% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Serbian 2% Italian 2% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Cleveland

• 2024 margin: Solid R (+35.0) · D 32.2% · R 67.2%
• 2008→2024 swing: -15.1pp toward R · 2008: -19.9pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+32.8 2016: R+30.6 2012: R+20.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.92%
• Current HPI: 447.16
• Rent YoY: ▲ 6.66%
• Metro: Shelby, 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

+37.6% since first listed

14 events — show timeline

• 2026-05-10 Price Changed $137,499 CANOPYMLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $139,999 CANOPYMLS as Distributed by MLS Grid
• 2026-04-07 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-04 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-01 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-03-17 Price Changed $149,999 CANOPYMLS as Distributed by MLS Grid
• 2026-02-22 Price Changed $154,999 CANOPYMLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $159,999 CANOPYMLS as Distributed by MLS Grid
• 2026-01-01 Listed $169,999 CANOPYMLS as Distributed by MLS Grid
• 2025-06-17 Sold (Public Records) $80,000 Public Records
• 2025-06-17 Sold (MLS) $80,000 CANOPYMLS as Distributed by MLS Grid
• 2025-05-21 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-05-08 Price Changed $85,000 CANOPYMLS as Distributed by MLS Grid
• 2024-12-13 Listed $99,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $543 · +169.7% YoY. Source: county tax records.