3895 Needmore Rd · Cooleemee, NC 27054

$109,000

5 bd · 1.0 ba · 1,216 sqft · SingleFamily public records · 6 Days on market

Built 1974 0.77 ac lot

---

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 +29.7/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

CONSIDERING ALL OFFERS - Unique rural home with tons of flexibility and a large attached garage/shop, making it a great setup for someone needing workspace, storage, or a rural live/work style property. Interior photos available upon request. Current layout is being marketed as 5 bedrooms / 3 bathrooms based on the existing layout and MLS guidelines, but the home offers a lot of additional usable space and potential for multi-generational living & was being used as a 7bed 3bath. The upstairs area includes 3 bedrooms, a kitchenette, and a full bathroom. The main level includes a flexible studio-style bedroom area with its own bathroom and separate entrance/exit doors, along with additi

Key facts

• Upstairs kitchenette
• Workspace storage
• Rv camper hookup pad

Tags

• LARGE ATTACHED GARAGE
• WORKSPACE STORAGE
• UPSTAIRS KITCHENETTE
• FLEXIBLE STUDIO-STYLE BEDROOM
• SEPARATE ENTRANCE EXIT DOORS
• RV CAMPER HOOKUP PAD

Property features AI

Finance

• Other: Zoning: RA
• HOA & community: No HOA

Exterior

• Parking: Attached garage with driveway; Two garage spaces (main level garage present); Garage/shop area referenced (garage approx. 809 sq ft)
• Utilities: Water: shared well; Sewer: septic system installed
• Home design: Single-family residential home; Site-built construction; Two levels
• Construction: Vinyl and other exterior materials — see remarks; Slab foundation
• Exterior features: Lot approximately 0.77 acres; Road surface: dirt, gravel, and other; Road is publicly maintained (with other — see remarks)

Interior

• Kitchen: No specific kitchen appliances listed (appliances field indicates Other/None)
• Bedrooms: Five bedrooms total: two on the main level, three on the upper level
• Bathrooms: Three full bathrooms: two on the main level, one on the upper level
• Heating & cooling: Heating: other — see remarks; Cooling: other — see remarks
• Interior features: One main living room (room count listed as 1); Appliances: none listed or other — see remarks
• Laundry & utility: Laundry: other — see remarks

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Cap rate 10.7% vs local median 3.7% in Cooleemee — 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 68/100 on livability (#189 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($754 loan paydown + $11k appreciation (10.0% local appreciation)).
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $109k implies a 118% gain — meaningful room to come down on a strong offer.

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 $109,000

Questions for the listing agent

1. Built in 1974 — 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 F-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: 1.22% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.57%
• DSCR: 1.69
• GRM: 6.8

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: 35.8%
• Equity multiple: 3.77×
• Total profit: $84,546
• Equity at exit: $98,196

10-year hold

• IRR: 30.8%
• Equity multiple: 8.51×
• Total profit: $229,059
• Equity at exit: $211,763

Cash invested: $30,520 (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 27054

• Home prices YoY: 7.7%
• Active inventory: 13
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,331 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$38 /mo · $458/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $396

Break-even live

Break-even rent $829

Max offer price $109,000

Occupancy floor 65%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-12
   status Pending
2. 2026-05-06
   listed $109,000 Active
3. 2026-05-04
   soldstatus $50,000

ⓘ 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: $458 · $38/mo
• Projected year-2 tax: $894 · $74/mo
• Expected delta: +$436/yr (+$36/mo · 95.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,968
• − Mortgage interest: −$6,106
• − Property taxes: −$458
• − Insurance: −$545
• − Repairs & maintenance: −$1,277
• − Management: −$1,277
• − Depreciation: −$3,171
• Taxable income: $3,133
• Est. tax owed @ 24.0%: −$752
• After-tax cash flow: $4,000/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Cooleemee

• Score: 68/100
• State rank: #189
• US rank: #9461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 921
• Population (ZIP): 2,372

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 13% Two or more races 11% Hispanic / Latino 2%
• Common ancestry: Serbian 18% Portuguese 12% Slovak 5%
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 4%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.55%
• Current HPI: 300.4799
• 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

+118.0% since first listed

3 events — show timeline

• 2026-05-12 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-06 Listed $109,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-04 Sold (Public Records) $50,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $458 · +4.5% YoY. Source: county tax records.