241 Wilson Rd · Spindale, NC 28160

$119,900

2 bd · 1.0 ba · 1,249 sqft · SingleFamily public records · 1 Days on market

Built 1924 0.37 ac lot Est $210k · 43% under

---

Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Cute 2 BR, 1 BA cottage. New metal roof. New detached carport. Home needs some updating but would make a great project. Property being sold "AS IS". PLEASE DO NOT DISTURB THE TENANT AND DO NOT GO UP TO THE HOUSE WITHOUT AN APPOINTMENT!

Key facts

• Metal roof
• Detached carport
• 0.37 acre lot

Tags

• METAL ROOF
• DETACHED CARPORT

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Public water; Septic installed; Electricity connected
• Home design: Single-family residence; One story; Site-built construction
• Construction: Metal roof; Asbestos construction materials; Crawl space foundation; Built on site
• Exterior features: Front porch; Rear porch; Enclosed porch; Publicly maintained road access; Road surfaces are gravel and paved

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump heating; Central air conditioning (heat pump)
• Interior features: 8 total rooms; Living room fireplace; Enclosed front and rear porches
• Laundry & utility: Laundry/utility room

🏷️ Possibly a rental listed for sale. The $119,900 price doesn't fit this home's estimated sale value (~$209,832) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 13.2% vs local median 3.4% in Spindale — 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 67/100 on livability (#211 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, housing B; Watch: crime C-, schools D+, amenities F.
• Rutherford County Schools (rural): math 43% / reading 44% proficiency, ranked #98 of 178 in NC (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 55 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 193 units permitted in Rutherford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($829 loan paydown + $12k appreciation (10.0% local appreciation)).
• Rutherford County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $119,900

Questions for the listing agent

1. Built in 1924 — 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: 1.52% ✓
• Cap rate: 13.17%
• Cash-on-cash: 24.57%
• DSCR: 2.09
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $209,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Kingston Pl	0.11mi	2/2.0	1,395 (+12%)	7mo	$350,000	$251	65
117 Richmond Ct	0.08mi	2/2.0	1,395 (+12%)	12mo	$349,000	$250	63
383 West St	0.50mi	3/1.0 (+1)	1,254 (+0%)	12mo	$250,000	$199	61
116 Memphis Way	0.13mi	3/2.0 (+1)	1,398 (+12%)	6mo	$317,500	$227	60
295 D Mathis Dr	0.50mi	2/1.0	1,140 (-9%)	10mo	$65,000	$57	54
133 North St	0.38mi	3/2.0 (+1)	1,328 (+6%)	11mo	$205,000	$154	53
236 D Mathis Dr	0.43mi	3/1.0 (+1)	1,075 (-14%)	11mo	$195,000	$181	43
197 Georgia St	0.69mi	2/1.0	1,084 (-13%)	10mo	$72,500	$67	38
174 Hollins St	0.66mi	3/1.5 (+1)	1,069 (-14%)	2mo	$179,900	$168	37
182 Georgia St	0.70mi	2/1.0	1,114 (-11%)	19mo	$85,000	$76	34
177 Alabama St	0.68mi	3/1.0 (+1)	1,113 (-11%)	17mo	$40,000	$36	31
652 Spindale St	0.72mi	2/1.0	1,088 (-13%)	18mo	$89,000	$82	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.8%
• Equity multiple: 4.25×
• Total profit: $109,052
• Equity at exit: $108,015

10-year hold

• IRR: 36.9%
• Equity multiple: 9.54×
• Total profit: $286,677
• Equity at exit: $232,939

Cash invested: $33,572 (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 28160

• Home prices YoY: 3.2%
• Active inventory: 55
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,820 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$72 /mo · $862/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $687

Break-even live

Break-even rent $950

Max offer price $119,900

Occupancy floor 57%

Sensitivity live

Price	-10% $755	-5% $721	+0% $687	+5% $653	+10% $619
Rent	-10% $543	-5% $615	+0% $687	+5% $759	+10% $831
Rate	-1.0pp $748	-0.5pp $718	base $687	+0.5pp $656	+1.0pp $625

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Central St Rutherfordton, NC	1.0	1.0	740	$1,820	$2.46	14d	1	1.25mi

Listing history 2 events

1. 2026-05-19
   status Pending
2. 2026-05-19
   listed $119,900 Active

ⓘ 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: $862 · $72/mo
• Projected year-2 tax: $983 · $82/mo
• Expected delta: +$121/yr (+$10/mo · 14.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,840
• − Mortgage interest: −$6,716
• − Property taxes: −$862
• − Insurance: −$600
• − Repairs & maintenance: −$1,747
• − Management: −$1,747
• − Depreciation: −$3,488
• Taxable income: $6,680
• Est. tax owed @ 24.0%: −$1,603
• After-tax cash flow: $6,644/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: Rutherford County Schools
• NCES district ID: 3704080
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,490
• Composite: 36.11/100
• National rank: #4753
• State rank: #98 of 178 in NC

Livability — Spindale

• Score: 67/100
• State rank: #211
• US rank: #10189

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,825
• Population (ZIP): 3,825

Population outlook (Rutherford County) Hauer SSP2

• Today (2025): 63,695 people
• By 2030: 61,670 · -3.2%
• By 2040: 57,212 · -10.2%
• By 2050: 52,763 · -17.2%
• By 2075: 44,493 · -30.1%
• By 2100: 38,127 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 16% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Serbian 5% Slovak 3% Subsaharan African 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 2% Other Asian/Pacific 1%

Political lean MEDSL · Rutherford

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -16.0pp toward R · 2008: -31.8pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+45.8 2016: R+47.9 2012: R+33.5 2008: R+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.11%
• Current HPI: 328.8325
• 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

2 events — show timeline

• 2026-05-19 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-19 Listed $119,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+10.3%/yr

Latest (2025): $862 · +34.7% YoY. Source: county tax records.