7868/7864 Kinglet Rd · Casar, NC 28612

$120,000

2 bd · 0.5 ba · 800 sqft · Townhouse public records · 270 Days on market

Built 1985 2,613 sqft lot $83/mo HOA · 10% of rent

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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 +7.6/30.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.7/10.0

Listing remarks

"BRING ALL OFFERS" Two townhouse units—7864 & 7868 Kinglet Drive—offered together for $120,000 and priced for a quick sale. This is a unique chance to purchase two income-producing properties in one transaction with multiple use options. Material Facts / Property Condition: Unit 7864 experienced a fire that occurred when a tenant left the residence. The fire was contained to a very small area and primarily damaged the carpet in one bedroom. There is smoke damage; however, it is limited. The owner does have insurance, and the list price has been reduced $20,000 due to the fire. Unit 7864 also has a building permit pulled for an addition; the project (enclosing

Key facts

• Gated community
• Scenic hiking trails
• Community amenities

Tags

• GATED COMMUNITY
• QUIET MOUNTAIN ROAD
• COMMUNITY AMENITIES
• LARGE PARK
• SCENIC HIKING TRAILS
• PLAYGROUND

Property features AI

Finance

• Financial info: Short term rentals allowed
• HOA & community: Pine Mountain POA (mandatory HOA); Annual association fee of $1,000; Gated community with walking trails; Pets allowed

Exterior

• Parking: Parking lot; Shared driveway
• Utilities: Community well water; Private sewer; Cable available; Electricity connected
• Home design: Residential townhouse (sixplex); Site built; One story; Crawl space foundation; Facing / entry level: main
• Construction: Wood construction
• Exterior features: Deck; Roads are asphalt/paved; Private maintained road

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level (dimensions approx. 12'8" x 12' and 10' x 12')
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Space heater; Window air conditioning unit(s)
• Interior features: 5 total rooms; Entry on main level
• Laundry & utility: Laundry located in bathroom; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/0.5-bath townhouse listed at $120k.

Deal economics

• At list price, monthly cash flow is $-144 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $95k (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (29.5% below list).
• Recommended offer: $85k (29.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#531 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• 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: George Hildebrand Elementary (math 37% / reading 42%, grade F, #694 of 1,410 statewide, top 53%, 318 students, 81% FRL); East Burke High (math 67% / reading 52%, grade C+, #216 of 535 statewide, top 43%, 879 students, 64% FRL) — zoned schools average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 155 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 $13k of equity ($830 loan paydown + $12k 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.
• 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

• It's been on market 270 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $48k; list at $120k implies a 150% gain — meaningful room to come down on a strong offer.

Recommended offer $84,652 (29.5% 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 270 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.71% ✗
• Cap rate: 4.85%
• Cash-on-cash: -5.14%
• DSCR: 0.77
• GRM: 11.8

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: 20.6%
• Equity multiple: 2.67×
• Total profit: $56,194
• Equity at exit: $108,106

10-year hold

• IRR: 18.8%
• Equity multiple: 6.14×
• Total profit: $172,693
• Equity at exit: $233,134

Cash invested: $33,600 (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 28612

• Home prices YoY: 24.4%
• Active inventory: 155
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $847 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$50 /mo · $604/yr
• Insurance: −$50
• HOA: −$83
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $-144

Break-even live

Break-even rent $1,029

Max offer price $94,582

Occupancy floor —

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $83 · $996/yr

Listing history 24 events

1. 2026-06-19
   days on market $120,000 Active 270 DOM
2. 2026-06-18
   days on market $120,000 Active 269 DOM
3. 2026-06-17
   days on market $120,000 Active 268 DOM
4. 2026-06-16
   days on market $120,000 Active 267 DOM
5. 2026-06-15
   days on market $120,000 Active 266 DOM
6. 2026-06-14
   days on market $120,000 Active 264 DOM
7. 2026-06-13
   days on market $120,000 Active 263 DOM
8. 2026-06-10
   days on market $120,000 Active 261 DOM
9. 2026-06-09
   days on market $120,000 Active 260 DOM
10. 2026-06-08
    days on market $120,000 Active 259 DOM
11. 2026-06-07
    days on market $120,000 Active 258 DOM
12. 2026-06-05
    days on market $120,000 Active 255 DOM
13. 2026-06-02
    days on market $120,000 Active 253 DOM
14. 2026-06-01
    days on market $120,000 Active 252 DOM
15. 2026-05-31
    days on market $120,000 Active 251 DOM
16. 2026-05-30
    days on market $120,000 Active 250 DOM
17. 2026-04-24
    price $120,000
18. 2026-03-26
    price $140,000
19. 2026-01-08
    status Active
20. 2025-11-13
    price $150,000
21. 2025-10-03
    price $95,500
22. 2025-09-15
    listed $115,000 Active
23. 2018-06-05
    soldstatus $48,000
24. 2006-07-20
    soldstatus $35,000

ⓘ 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: $604 · $50/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$380/yr (+$32/mo · 62.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $10,158
• − Mortgage interest: −$6,722
• − Property taxes: −$604
• − Insurance: −$600
• − Repairs & maintenance: −$813
• − Management: −$813
• − HOA: −$996
• − Depreciation: −$3,491
• Taxable loss: −$3,880
• Est. tax savings @ 24.0%: +$931
• After-tax cash flow: $-795/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 — Casar

• Score: 59/100
• State rank: #531
• US rank: #19645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,182

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Asian 3% Black 2% Two or more races 2%
• Common ancestry: Romanian 5% Portuguese 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

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: ▲ 64.39%
• Current HPI: 328.6
• 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

+242.9% since first listed

8 events — show timeline

• 2026-04-24 Price Changed $120,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $140,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-08 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-11-13 Price Changed $150,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-03 Price Changed $95,500 CANOPYMLS as Distributed by MLS Grid
• 2025-09-15 Listed $115,000 CANOPYMLS as Distributed by MLS Grid
• 2018-06-05 Sold (Public Records) $48,000 Public Records
• 2006-07-20 Sold (Public Records) $35,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $604 · +0.0% YoY. Source: county tax records.