49 Coweeta River Ln · Franklin, NC 28763

$285,000

3 bd · 2.0 ba · 1,990 sqft · MultiFamily public records · 79 Days on market

Built 2022 0.49 ac lot ↓ 44% 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).

• Appreciation +10.0/10.0
• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.4/10.0

Multi-family units

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

Listing remarks

Step into the charm of a modern farmhouse where slower mornings and peaceful evenings just feel right. Built in 2022, this inviting 3-bedroom home plus bonus room offers 2.5 baths and a layout designed for comfort, flexibility, and everyday living. Nestled in a quiet setting with a small lake and creek nearby (no direct access), you'll love the sense of space and calm that surrounds you. The level yard is perfect for gatherings, gardening, or simply enjoying the outdoors. Inside, warm hardwood floors run throughout, paired with efficient mini-split systems for year-round comfort. The spacious primary suite features vaulted ceilings and a private bath with a garden tub—your own place t

Key facts

• Level yard
• Mini-split systems
• Primary suite

Tags

• MODERN FARMHOUSE
• SMALL LAKE
• LEVEL YARD
• HARDWOOD FLOORS
• MINI-SPLIT SYSTEMS
• PRIMARY SUITE

Property features AI

Exterior

• Parking: No garage
• Utilities: Shared well (see remarks); Propane; Septic tank
• Home design: Single-family residence; Two stories
• Construction: Vinyl siding; Block construction; Metal roof; Crawl space (no basement)
• Exterior features: Deck; Porch; Level, open lot; Gravel driveway

Interior

• Kitchen: Electric range; Electric oven; Dishwasher; Microwave; Refrigerator
• Bedrooms: Master bedroom located downstairs
• Flooring: Hardwood; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ductless heating and cooling; Ceiling fans
• Interior features: Ceiling fans; Soaking tub; Master suite on main level; Insulated windows
• Laundry & utility: Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $-333 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (36.2% below list).
• Recommended offer: $182k (36.2% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 2.4% in Franklin — 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 74/100 on livability (#55 in NC, #4,469 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime C-, employment D+, schools D.
• Macon County Schools (rural): math 47% / reading 50% proficiency, ranked #71 of 178 in NC (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 218 units permitted in Macon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Macon County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $181,700 (36.2% 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 79 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
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. 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?
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 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: 0.64% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.01%
• DSCR: 0.78
• GRM: 13.1

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: 20.7%
• Equity multiple: 2.68×
• Total profit: $133,886
• Equity at exit: $256,751

10-year hold

• IRR: 18.8%
• Equity multiple: 6.15×
• Total profit: $410,782
• Equity at exit: $553,692

Cash invested: $79,800 (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 28763

• Home prices YoY: 14.2%
• Active inventory: 63
• Price-to-rent: 26.1×

Monthly cashflow live

• Estimated rent: $1,817 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-333

Break-even live

Break-even rent $2,239

Max offer price $226,097

Occupancy floor —

Sensitivity live

Price	-10% $-172	-5% $-253	+0% $-333	+5% $-414	+10% $-495
Rent	-10% $-477	-5% $-405	+0% $-333	+5% $-262	+10% $-190
Rate	-1.0pp $-190	-0.5pp $-261	base $-333	+0.5pp $-407	+1.0pp $-482

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$1,816
Total (2 units)			$1,817

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $285,000 Active 79 DOM
2. 2026-06-18
   days on market $285,000 Active 76 DOM
3. 2026-06-17
   days on market $285,000 Active 75 DOM
4. 2026-06-16
   days on market $285,000 Active 74 DOM
5. 2026-06-15
   days on market $285,000 Active 73 DOM
6. 2026-06-14
   days on market $285,000 Active 71 DOM
7. 2026-06-10
   days on market $285,000 Active 68 DOM
8. 2026-06-09
   days on market $285,000 Active 67 DOM
9. 2026-06-08
   days on market $285,000 Active 66 DOM
10. 2026-06-07
    days on market $285,000 Active 65 DOM
11. 2026-06-05
    days on market $285,000 Active 62 DOM
12. 2026-06-03
    days on market $285,000 Active 61 DOM
13. 2026-06-02
    days on market $285,000 Active 60 DOM
14. 2026-06-01
    days on market $285,000 Active 59 DOM
15. 2026-05-31
    days on market $285,000 Active 58 DOM
16. 2026-05-31
    days on market $285,000 Active 57 DOM
17. 2026-05-21
    price $285,000
18. 2026-04-03
    listed $290,000 Active
19. 2026-01-21
    price $290,000
20. 2025-11-05
    price $299,900
21. 2025-10-13
    price $314,000
22. 2025-09-20
    price $325,000
23. 2025-08-28
    price $349,900
24. 2025-07-31
    price $375,000
25. 2025-07-12
    price $399,000
26. 2025-07-01
    price $429,000
27. 2025-06-11
    price $469,900
28. 2025-06-06
    price $490,000
29. 2025-05-27
    listed $509,900 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: $1,867 · $156/mo
• Projected year-2 tax: $2,337 · $195/mo
• Expected delta: +$470/yr (+$39/mo · 25.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,804
• − Mortgage interest: −$15,964
• − Property taxes: −$1,867
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,744
• − Management: −$1,744
• − Depreciation: −$8,291
• Taxable loss: −$9,232
• Est. tax savings @ 24.0%: +$2,216
• After-tax cash flow: $-1,786/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: Macon County Schools
• NCES district ID: 3702760
• Math proficiency: 47% ▲ 7.00%
• Reading proficiency: 50% ▲ 3.00%
• Median HH income: $39,072
• Composite: 40.49/100
• National rank: #3713
• State rank: #71 of 178 in NC

Livability — Franklin

• Score: 74/100
• State rank: #55
• US rank: #4469

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 29,659
• Population (ZIP): 2,525

Population outlook (Macon County) Hauer SSP2

• Today (2025): 34,346 people
• By 2030: 34,353 · +0.0%
• By 2040: 33,956 · -1.1%
• By 2050: 33,249 · -3.2%
• By 2075: 31,526 · -8.2%
• By 2100: 28,113 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3%
• Common ancestry: Serbian 8% Romanian 2% Lithuanian 2%
• Foreign-born: 2%

Political lean MEDSL · Macon

• 2024 margin: Solid R (+38.0) · D 30.6% · R 68.6%
• 2008→2024 swing: -16.6pp toward R · 2008: -21.4pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+38.5 2016: R+41.5 2012: R+30.6 2008: R+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 42.53%
• Current HPI: 342.9543
• 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

-44.1% since first listed

13 events — show timeline

• 2026-05-21 Price Changed $285,000 CSAOR
• 2026-04-03 Listed $290,000 CSAOR
• 2026-01-21 Price Changed $290,000 CSAOR
• 2025-11-05 Price Changed $299,900 CSAOR
• 2025-10-13 Price Changed $314,000 CSAOR
• 2025-09-20 Price Changed $325,000 CSAOR
• 2025-08-28 Price Changed $349,900 CSAOR
• 2025-07-31 Price Changed $375,000 CSAOR
• 2025-07-12 Price Changed $399,000 CSAOR
• 2025-07-01 Price Changed $429,000 CSAOR
• 2025-06-11 Price Changed $469,900 CSAOR
• 2025-06-06 Price Changed $490,000 CSAOR
• 2025-05-27 Listed $509,900 CSAOR

Property tax history

+14.1%/yr

Latest (2025): $1,867 · +0.0% YoY. Source: county tax records.