819 Newbern Ave #1 · Statesville, NC 28677

$69,000

3 bd · 1.0 ba · 1,253 sqft · SingleFamily · 6 Days on market

Built 1930 Fair condition 7,501 sqft lot ↓ 34% 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 +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Exceptional investment opportunity just minutes from downtown Statesville! This portfolio offers 2 total properties across 2 separate parcels (Parcel ID(s): 4733799680; 4734141966). Currently, all units are rented with a strong rental history and reliable tenants. The portfolio consists of two ranch-style single-family homes and one two-story single-family home, providing a balanced mix of stable income and future potential. This combination of income-producing properties and redevelopment possibilities makes the portfolio well-suited for investors seeking both immediate cash flow and long-term upside. Conveniently located near Statesville amenities, these properties benefits from consisten

Key facts

• 7,501 sq ft lot
• Built 1930
• Listed 6 days

Property features AI

Finance

• Other: Property is completed; Zoning: R5MFM
• HOA & community: No HOA

Exterior

• Parking: On-street parking
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built construction; One level
• Construction: Aluminum and vinyl exterior materials; Foundation: Other (see remarks)
• Exterior features: Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: 3 bedrooms on the upper level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Fireplace; 4 total rooms
• Laundry & utility: Laundry located inside

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $770 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Cap rate 19.7% vs local median 3.7% in Statesville — 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 59/100 on livability (#557 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Iredell-Statesville Schools (rural): math 53% / reading 52% proficiency, ranked #51 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Troutman Elementary (math 63% / reading 44%, grade C, #335 of 1,410 statewide, top 24%, 698 students, 54% FRL); The Brawley School (math 91% / reading 88%, grade A+, #2 of 475 statewide, top 0%, 639 students, 9% FRL); Statesville High (math 17% / reading 27%, grade F, #484 of 535 statewide, top 91%, 879 students, 77% FRL).
• Market conditions: Rents flat; 475 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).
• This rent runs 30% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Iredell County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $35k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $69,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.29% ✓
• Cap rate: 19.68%
• Cash-on-cash: 47.81%
• DSCR: 3.13
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $226,793
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
914 Wilmington Ave	0.11mi	3/2.0	1,240 (-1%)	1mo	$220,000	$177	88
1230 Wilmington Ave	0.33mi	3/2.0	1,244 (-1%)	0mo	$228,000	$183	79
1114 5th St	0.29mi	3/2.0	1,257 (+0%)	5mo	$140,000	$111	78
1316 4th St	0.32mi	3/2.5	1,244 (-1%)	3mo	$225,000	$181	76
933 Wallace St	0.34mi	2/1.0 (-1)	1,216 (-3%)	2mo	$85,000	$70	72
1021 4th St	0.40mi	3/2.5	1,266 (+1%)	3mo	$240,000	$190	71
405 Winston Ave	0.42mi	3/2.5	1,234 (-2%)	4mo	$240,000	$194	68
812 W Raleigh Ave W #7	0.10mi	3/2.5	1,392 (+11%)	3mo	$220,000	$158	68
1012 4th St	0.40mi	3/2.0	1,377 (+10%)	1mo	$160,000	$116	60
1000 Caldwell St	0.50mi	3/2.0	1,340 (+7%)	3mo	$230,000	$172	59
310 New Bern Ave	0.41mi	3/2.5	1,394 (+11%)	4mo	$255,000	$183	53
1701 5th St	0.47mi	3/2.0	1,082 (-14%)	5mo	$218,000	$201	48

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 · 0.2% rent growth · sell at horizon

5-year hold

• IRR: 42.0%
• Equity multiple: 2.74×
• Total profit: $33,539
• Equity at exit: $10,288

10-year hold

• IRR: 46.9%
• Equity multiple: 4.92×
• Total profit: $75,646
• Equity at exit: $5,966

Cash invested: $19,320 (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 28677

• Rents YoY: 0.2%
• Active inventory: 475
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,578 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $770

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 46%

Sensitivity live

Price	-10% $817	-5% $794	+0% $770	+5% $746	+10% $722
Rent	-10% $645	-5% $707	+0% $770	+5% $832	+10% $894
Rate	-1.0pp $804	-0.5pp $787	base $770	+0.5pp $752	+1.0pp $734

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1203 Wilson W Lee Blvd Statesville, NC	3.0	1.0	1585	$1,500	$0.95	25d	1	0.22mi
1017 Caldwell St Statesville, NC	4.0	2.0	1283	$1,800	$1.40	25d	1	0.51mi
620 W Bell St Statesville, NC	3.0	2.0	1209	$1,850	$1.53	23d	1	0.65mi
321 Vernon Ln Statesville, NC	3.0	2.0	1300	$1,675	$1.29	4d	1	0.66mi
333 Vernon Ln Statesville, NC	3.0	3.0	1300	$1,675	$1.29	4d	1	0.66mi
708 W Front St Statesville, NC	2.0	1.0	950	$985	$1.04	4d	1	0.82mi
626 Walnut St Unit D Statesville, NC	2.0	1.5	1090	$1,100	$1.01	25d	1	0.91mi
797 Cherry St Statesville, NC	2.0	1.0	950	$985	$1.04	0d	1	0.93mi
936 W Front St Statesville, NC	4.0	1.0	1826	$1,600	$0.88	25d	1	0.94mi
627 Cherry St Unit F Statesville, NC	2.0	1.5	1098	$1,200	$1.09	25d	1	0.94mi
212 E Bell St Statesville, NC	3.0	1.0	1460	$1,500	$1.03	0d	1	1.12mi
804 Jost St Unit 70 Statesville, NC	3.0	2.5	1446	$1,923	$1.33	25d	1	1.28mi
1151 Alexander St Unit 1151 Statesville, NC	2.0	1.0	900	$1,200	$1.33	25d	1	1.30mi
1711 Younger Ave Statesville, NC	3.0	1.0	1020	$1,350	$1.32	25d	1	1.38mi

Listing history 4 events

1. 2026-05-19
   status Pending
2. 2026-05-19
   price $69,000
3. 2026-05-19
   status Active
4. 2026-05-01
   listed $104,000 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,934
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,515
• − Management: −$1,515
• − Depreciation: −$2,007
• Taxable income: $8,652
• Est. tax owed @ 24.0%: −$2,077
• After-tax cash flow: $7,159/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 · 3 photos

Fair 45/100 Moderate rehab

This property requires significant exterior repairs and landscaping to improve its curb appeal and rental value.

Repairs flagged

• Major roof — Moss and potential water damage
• Major exterior — Overgrown vegetation, general disrepair

Value-add opportunities

• Both Landscaping and exterior maintenance — Improves curb appeal and rental value
• Both Roof repair — Fixes potential water damage and improves structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Moss and potential water damage	Major	$15,000–50,000
exterior · Overgrown vegetation, general disrepair	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Landscaping and exterior maintenance — Improves curb appeal and rental value ↑
• Both Roof repair — Fixes potential water damage and improves structural integrity ↑

ⓘ 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: Iredell-Statesville Schools
• NCES district ID: 3702310
• Math proficiency: 53% ▲ 8.00%
• Reading proficiency: 52% ▲ 4.00%
• Median HH income: $51,201
• Composite: 44.98/100
• National rank: #2703
• State rank: #51 of 178 in NC

Livability — Statesville

• Score: 59/100
• State rank: #557
• US rank: #20505

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Statesville, NC
• County: Iredell County · 182,638 people
• City population: 78,393
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 38,819
• Household income: $62,406
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 1174.0

Population outlook (Iredell County) Hauer SSP2

• Today (2025): 194,510 people
• By 2030: 206,171 · +6.0%
• By 2040: 227,781 · +17.1%
• By 2050: 245,102 · +26.0%
• By 2075: 280,896 · +44.4%
• By 2100: 294,375 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 21% Hispanic / Latino 14% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 3% Slovak 2% Scandinavian 1%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 12% Arabic 1% Other Indo-European 1%

Political lean MEDSL · Iredell

• 2024 margin: Solid R (+32.6) · D 33.2% · R 65.8%
• 2008→2024 swing: -8.2pp toward R · 2008: -24.4pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+32.4 2016: R+36.8 2012: R+30.5 2008: R+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -298.76%
• Current HPI: 243.0445
• Rent YoY: ▲ 0.20%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

-33.7% since first listed

4 events — show timeline

• 2026-05-19 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-19 Price Changed $69,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-19 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-05-01 Listed $104,000 CANOPYMLS as Distributed by MLS Grid