2191 Maple Valley Pl · Lenoir, NC 28645

$260,000

4 bd · 2.0 ba · 1,634 sqft · MultiFamily · 46 Days on market

Built 1976 Good condition 0.36 ac lot ↓ 4% since listing

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Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• Condition / age +3.8/5.0
• 1% rule +3.7/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Convenient to Lenoir, Hudson and Hickory, this affordable investment opportunity with good rental history would work well for an investor and/or owner occupant (live in one side and rent out the other). Inside,   each unit features 2BR, 1Bath, window treatments, appliances including a self-cleaning range, frig w/ ice maker, micro-hood and all-in-one washer/dryer unit.  Outside you have low maintenance vinyl siding and trim and guttering w/ leaf guard. In 2018, the units were updated w/ new appliances, architectural roof shingles, vinyl siding, double hung replacement windows, new entry doors, water heaters, decking and a handicap ramp.  Each unit has 2 paved & assigned

Key facts

• Self-cleaning range
• Vinyl siding
• Low county taxes

Tags

• SELF-CLEANING RANGE
• VINYL SIDING
• NEW ENTRY DOORS
• ASSIGNED PARKING SPACES
• CARPORT WITH STORAGE CLOSET
• LOW COUNTY TAXES

Property features AI

Finance

• Other: Building area approximately 1,634 (total living area and above-grade finished area listed); Additional 100 sq ft other space
• Financial info: Owner pays exterior maintenance, water, sewer, and trash collection; Tenants pay cable and electricity; Two rental units total
• HOA & community: No HOA; Pets allowed with conditions

Exterior

• Parking: Assigned parking; Attached carport (1 space); Driveway parking; On-street parking; 3 open parking spaces; 4 assigned spaces total
• Security: Smoke detector(s)
• Utilities: County water; Septic system; Electricity connected; Cable available and connected; Wired internet available
• Home design: Duplex (residential income); Site-built construction; Vinyl exterior; RA-20 zoning
• Construction: Site built; Vinyl siding; Crawl space foundation
• Exterior features: Deck; Exterior storage; Ramp to main level; Property cleared and sloped; Publicly maintained paved/asphalt road access

Interior

• Kitchen: Electric range; Self-cleaning oven; Microwave; Refrigerator; Ice maker
• Bedrooms: 4 bedrooms total; Two separate 2-bedroom units (duplex)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning; Electric cooling
• Interior features: Pantry; Insulated windows; Storm doors; Smoke detector(s)
• Laundry & utility: Washer and dryer included; In-unit laundry; Laundry closet on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-3 ($-33/yr) — negative.
• To cash-flow at today's rent, offer at most $260k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (12.7% below list).
• Recommended offer: $227k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.7% in Lenoir — 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 70/100 on livability (#139 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities D, schools F.
• Caldwell County Schools (suburban): math 38% / reading 46% proficiency, ranked #106 of 178 in NC (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 465 active listings in the ZIP; 217 units permitted in Caldwell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Caldwell County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,100 (12.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• GRM: 9.5

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: -16.4%
• Equity multiple: 0.42×
• Total profit: $-42,270
• Equity at exit: $38,767

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-36,891
• Equity at exit: $22,480

Cash invested: $72,800 (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 28645

• Home prices YoY: -17.4%
• Active inventory: 465
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $2,271 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-3

Break-even live

Break-even rent $2,274

Max offer price $259,608

Occupancy floor 95%

Sensitivity live

Price	-10% $177	-5% $87	+0% $-3	+5% $-93	+10% $-182
Rent	-10% $-182	-5% $-92	+0% $-3	+5% $87	+10% $177
Rate	-1.0pp $128	-0.5pp $63	base $-3	+0.5pp $-70	+1.0pp $-139

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,272
Total (2 units)			$2,271

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $260,000 Active 46 DOM
2. 2026-06-18
   days on market $260,000 Active 45 DOM
3. 2026-06-17
   days on market $260,000 Active 44 DOM
4. 2026-06-16
   days on market $260,000 Active 43 DOM
5. 2026-06-15
   days on market $260,000 Active 42 DOM
6. 2026-06-14
   days on market $260,000 Active 40 DOM
7. 2026-06-13
   days on market $260,000 Active 39 DOM
8. 2026-06-10
   days on market $260,000 Active 37 DOM
9. 2026-06-09
   days on market $260,000 Active 36 DOM
10. 2026-06-08
    days on market $260,000 Active 35 DOM
11. 2026-06-07
    pricedays on market $260,000 Active 34 DOM
12. 2026-06-03
    days on market $265,000 Active 30 DOM
13. 2026-06-02
    days on market $265,000 Active 29 DOM
14. 2026-05-31
    days on market $265,000 Active 27 DOM
15. 2026-05-30
    days on market $265,000 Active 26 DOM
16. 2026-05-04
    listed $265,000 Active
17. 2025-01-24
    price $265,000
18. 2024-12-26
    listed $275,000 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,252
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,180
• − Management: −$2,180
• − Depreciation: −$7,564
• Taxable loss: −$4,436
• Est. tax savings @ 24.0%: +$1,065
• After-tax cash flow: $1,032/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This multi-family home is in good condition with recent updates. It has a good rental history and is ready for minor cosmetic improvements to enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and value
• Both Landscaping improvements — Aesthetic improvements can attract more renters and buyers
• Both Replace carpet with hardwood flooring — Hardwood flooring is more durable and can increase value
• Both Replace countertops with quartz or granite — Quartz or granite countertops are durable and can increase value
• Both Replace appliances with energy-efficient models — Energy-efficient appliances can reduce utility costs and attract more renters and buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and value ↑
• Both Landscaping improvements — Aesthetic improvements can attract more renters and buyers ↑
• Both Replace carpet with hardwood flooring — Hardwood flooring is more durable and can increase value ↑
• Both Replace countertops with quartz or granite — Quartz or granite countertops are durable and can increase value ↑
• Both Replace appliances with energy-efficient models — Energy-efficient appliances can reduce utility costs and attract more renters and buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Caldwell County Schools
• NCES district ID: 3700580
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $37,165
• Composite: 34.9/100
• National rank: #5079
• State rank: #106 of 178 in NC

Livability — Lenoir

• Score: 70/100
• State rank: #139
• US rank: #7940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 46,237

Population outlook (Caldwell County) Hauer SSP2

• Today (2025): 77,603 people
• By 2030: 74,714 · -3.7%
• By 2040: 67,732 · -12.7%
• By 2050: 59,938 · -22.8%
• By 2075: 43,232 · -44.3%
• By 2100: 28,894 · -62.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Caldwell

• 2024 margin: Solid R (+52.6) · D 23.4% · R 76.0%
• 2008→2024 swing: -22.9pp toward R · 2008: -29.7pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+51.1 2016: R+50.6 2012: R+35.7 2008: R+29.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.03%
• Current HPI: 265.0987
• 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

-3.6% since first listed

3 events — show timeline

• 2026-05-04 Listed $265,000 CANOPYMLS as Distributed by MLS Grid
• 2025-01-24 Price Changed $265,000 CANOPYMLS as Distributed by MLS Grid
• 2024-12-26 Listed $275,000 CANOPYMLS as Distributed by MLS Grid