3309 Clarence Towery Cir · Hildebran, NC 28637

$899,999

20 bd · 10.0 ba · 9,972 sqft · MultiFamily · 108 Days on market

Built 1964 2.03 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

ATTN INVESTORS !! 10 unit apartment building!!! Don't miss out on the rare chance in this market to get a 10 unit apartment building. There are five 3 bedroom units and five 2 bedrooms units. 5 of these units have been completely remodeled. New wide luxury vinyl plank floors with fresh bathroom fixtures in each! The 5 other units have had recent carpet and paint. 10 units all one level and easily accessible!!! Call THE LISTING AGENT TODAY!

Key facts

• 2.03 acre lot
• Built 1964
• Listed 107 days

Property features AI

Finance

• Other: Pets allowed
• Financial info: Owner pays exterior maintenance, management, sewer, snow removal, trash collection, and water; Tenants pay cable TV, electricity, and gas
• HOA & community: No HOA

Exterior

• Parking: Plenty of parking; each unit has at least 2 spaces; Parking spaces available
• Utilities: County water; County sewer; Cable available; Electricity connected; Wired internet available
• Home design: Residential income property; Eightplex+ (10 apartment units); Two or more access exits
• Construction: Site-built construction; Brick exterior; Shingle/shake roofing; Crawl space foundation; Built with multiple apartments (10 units)
• Exterior features: Corner lot; Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 25 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 10 full bathrooms
• Heating & cooling: Floor furnace (natural gas); Window air conditioning units
• Interior features: Storm doors; Carbon monoxide detector(s); Smoke detector(s)
• Laundry & utility: In-unit laundry; Electric water heater; Gas water heater; Washer/Dryer

What this means for you Summary

Snapshot

• This is a 5×2bd/1.0ba + 5×3bd/1.0ba units multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $6k ($71k/yr) — positive. Per door: $589/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $900k).
• Recommended offer: $819k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#295 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment D-.
• Burke County Schools (rural): math 43% / reading 47% proficiency, ranked #89 of 178 in NC (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hildebran Elementary (math 37% / reading 42%, grade F, #694 of 1,410 statewide, top 53%, 320 students, 77% FRL); East Burke High (math 67% / reading 52%, grade C+, #216 of 535 statewide, top 43%, 879 students, 64% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 8 active listings in the ZIP; 422 units permitted in Burke County in 2024 (94 in 5+ unit buildings).

Forward outlook

• In year one you build about $96k of equity ($6k loan paydown + $90k appreciation (10.0% local appreciation)).
• Burke County population projected at -18% 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 $252k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$155k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($819k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask is 89900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• 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 $818,999 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.70% ✓
• Cap rate: 14.15%
• Cash-on-cash: 28.05%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 45.5%
• Equity multiple: 4.43×
• Total profit: $865,546
• Equity at exit: $810,790

10-year hold

• IRR: 39.5%
• Equity multiple: 9.95×
• Total profit: $2,254,333
• Equity at exit: $1,748,500

Cash invested: $252,000 (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 28637

• Home prices YoY: 34.3%
• Active inventory: 8
• Price-to-rent: 49.1×

Monthly cashflow live

• Estimated rent: $15,329 medium
• Mortgage (P&I): −$4,720
• Tax est. 1.5%: −$1,125 /mo · $13,500/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,219
• Net cashflow: $5,890

Break-even live

Break-even rent $7,873

Max offer price $899,999

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$7,635
▸ 5× units	3	1	$7,695
Total (10 units)			$15,329

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: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $899,999 Active 108 DOM
2. 2026-06-18
   days on market $899,999 Active 107 DOM
3. 2026-06-17
   days on market $899,999 Active 106 DOM
4. 2026-06-16
   days on market $899,999 Active 105 DOM
5. 2026-06-15
   days on market $899,999 Active 104 DOM
6. 2026-06-14
   days on market $899,999 Active 102 DOM
7. 2026-06-13
   statusdays on market $899,999 Active 101 DOM
8. 2026-06-10
   days on market $899,999 Active Under Contract 99 DOM
9. 2026-06-09
   days on market $899,999 Active Under Contract 98 DOM
10. 2026-06-08
    days on market $899,999 Active Under Contract 97 DOM
11. 2026-06-07
    days on market $899,999 Active Under Contract 96 DOM
12. 2026-06-05
    days on market $899,999 Active Under Contract 93 DOM
13. 2026-06-02
    days on market $899,999 Active Under Contract 91 DOM
14. 2026-06-01
    days on market $899,999 Active Under Contract 90 DOM
15. 2026-05-31
    days on market $899,999 Active Under Contract 89 DOM
16. 2026-05-30
    days on market $899,999 Active Under Contract 88 DOM
17. 2026-05-14
    historical $1,000
18. 2026-04-24
    historical Active Under Contract
19. 2026-04-24
    status Active
20. 2026-03-17
    historical Active Under Contract
21. 2026-03-17
    listed $1,000
22. 2026-03-02
    listed $899,999 Active
23. 2022-06-30
    soldstatus $800,000 Closed 447-char remark

    Show marketing remark (447 chars)

    ATTN INVESTORS !! 10 unit apartment building!!! Don't miss out on the rare chance in this market to get a 10 unit apartment building. There are five 3 bedroom units and five 2 bedrooms units. 5 of these units have been completely remodeled. New wide luxury vinyl plank floors with fresh bathroom fixtures in each! The 5 other units have had recent carpet and paint. 10 units all one level and easily accessible!!! Call THE LISTING AGENT TODAY!

24. 2022-05-02
    historical Active Under Contract 447-char remark

    Show marketing remark (447 chars)

    ATTN INVESTORS !! 10 unit apartment building!!! Don't miss out on the rare chance in this market to get a 10 unit apartment building. There are five 3 bedroom units and five 2 bedrooms units. 5 of these units have been completely remodeled. New wide luxury vinyl plank floors with fresh bathroom fixtures in each! The 5 other units have had recent carpet and paint. 10 units all one level and easily accessible!!! Call THE LISTING AGENT TODAY!

25. 2022-04-22
    listed $800,000 Active 447-char remark

    Show marketing remark (447 chars)

    ATTN INVESTORS !! 10 unit apartment building!!! Don't miss out on the rare chance in this market to get a 10 unit apartment building. There are five 3 bedroom units and five 2 bedrooms units. 5 of these units have been completely remodeled. New wide luxury vinyl plank floors with fresh bathroom fixtures in each! The 5 other units have had recent carpet and paint. 10 units all one level and easily accessible!!! Call THE LISTING AGENT TODAY!

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $183,948
• − Mortgage interest: −$50,414
• − Property taxes: −$13,500
• − Insurance: −$4,500
• − Repairs & maintenance: −$14,716
• − Management: −$14,716
• − Depreciation: −$26,182
• Taxable income: $59,921
• Est. tax owed @ 24.0%: −$14,381
• After-tax cash flow: $56,302/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: Burke County Schools
• NCES district ID: 3700480
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $38,342
• Composite: 37.51/100
• National rank: #4400
• State rank: #89 of 178 in NC

Livability — Hildebran

• Score: 65/100
• State rank: #295
• US rank: #12395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hildebran, NC
• City population: 1,512
• Population (ZIP): 1,512

Population outlook (Burke County) Hauer SSP2

• Today (2025): 86,552 people
• By 2030: 84,123 · -2.8%
• By 2040: 78,165 · -9.7%
• By 2050: 71,099 · -17.9%
• By 2075: 56,264 · -35.0%
• By 2100: 44,742 · -48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Asian 14% Hispanic / Latino 6% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 4% Italian 2% Portuguese 1%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 83% English-only · Other Asian/Pacific 10% Spanish 6%

Political lean MEDSL · Burke

• 2024 margin: Solid R (+41.2) · D 29.0% · R 70.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -19.2pp · 2024: -41.2pp
• All cycles: 2024: R+41.2 2020: R+40.1 2016: R+39.4 2012: R+23.6 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 55.57%
• Current HPI: 217.79
• 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

-99.9% since first listed

9 events — show timeline

• 2026-05-14 Rental Removed $1,000 RENTALBEAST
• 2026-04-24 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-24 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-03-17 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-03-17 Listed for Rent $1,000 RENTALBEAST
• 2026-03-02 Listed $899,999 CANOPYMLS as Distributed by MLS Grid
• 2022-06-30 Sold (MLS) $800,000 CANOPYMLS as Distributed by MLS Grid
• 2022-05-02 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2022-04-22 Listed $800,000 CANOPYMLS as Distributed by MLS Grid