1213 Coventry Pl NW · Conover, NC 28613

$215,000

3 bd · 2.0 ba · 1,272 sqft · SingleFamily public records · 4 Days on market

Built 2000 0.28 ac lot Est $258k · 17% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to purchase this well-kept property priced for a quick sale! This single-level home features a one-car garage and is located at the end of the street in a quiet neighborhood off County Home Rd. The driveway offers an additional parking pad and a concrete slope down the side of the house. Covered front porch. Large living area with laminate flooring is open to the dining area which leads to the rear deck. Well appointed galley kitchen with white appliances. Laundry closet in the hallway with overhead cabinets. Primary bedroom has 2 closets and a full en suite bathroom. Two additional bedrooms & a full bath. Roof age is 2018. Heat pump age is 2021. This property is wit

Key facts

• Covered front porch
• One car garage
• Laminate flooring

Tags

• ONE CAR GARAGE
• ADDITIONAL PARKING PAD
• COVERED FRONT PORCH
• LARGE LIVING AREA
• LAMINATE FLOORING
• REAR DECK

Property features AI

Finance

• Other: Lot size approximately 0.28 acres; Directions: From Springs Rd, turn onto County Home Rd, right into Village Meadow on Lee Cline Ct NW, left on Atherstone St NW, left on Coventry Pl NW, property is at the end on the left.
• Financial info: Deed restrictions (restrictive covenants recorded in county registry)
• HOA & community: No HOA

Exterior

• Parking: Attached garage (1 car)
• Utilities: City water; Public sewer
• Home design: Single-family residence (site-built); One story; Zoned R-9A
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Covered patio/porch; Deck; Front porch; Publicly maintained paved concrete road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Attic with pull-down stairs; 8 total rooms
• Laundry & utility: Main-level laundry in hall/laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-32 ($-388/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (17.8% below list).
• Recommended offer: $177k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.4% in Conover — 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 (#206 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities F, commute F.
• Newton Conover City Schools (suburban): math 49% / reading 47% proficiency, ranked #74 of 178 in NC (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shuford Elementary (math 62% / reading 52%, grade C+, #249 of 1,410 statewide, top 20%, 421 students, 56% FRL); Newton-Conover High (math 57% / reading 52%, grade C-, #270 of 535 statewide, top 52%, 758 students, 59% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 170 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,016 units permitted in Catawba County in 2024 (255 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Catawba County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,695 (17.8% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $258,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
711 Braemore Ct NW	0.48mi	3/2.0	1,224 (-4%)	0mo	$246,000	$201	71
1827 Pipers Ridge Cir NW	0.43mi	3/2.0	1,256 (-1%)	8mo	$300,000	$239	71
1507 County Home Rd	0.44mi	3/2.0	1,202 (-6%)	9mo	$245,000	$204	63
1011 Atherstone St NW	0.20mi	3/2.0	1,418 (+12%)	11mo	$278,400	$196	62
1787 Pipers Ridge Cir NW	0.44mi	3/2.0	1,372 (+8%)	7mo	$285,000	$208	61
3940 Herman Sipe Rd	0.70mi	3/2.0	1,288 (+1%)	6mo	$261,000	$203	60
1405 8th Ave NW	0.62mi	3/1.5	1,282 (+1%)	11mo	$240,000	$187	59
1759 NW Pipers Ridge Cir	0.51mi	3/2.0	1,356 (+7%)	10mo	$325,000	$240	57
906 16th St NW	0.47mi	3/1.5	1,379 (+8%)	14mo	$220,000	$160	51
1307 6th Ave NW	0.62mi	3/1.0	1,110 (-13%)	2mo	$213,000	$192	44
1369 Landsdowne Dr	0.65mi	3/2.0	1,423 (+12%)	7mo	$335,000	$235	44
1872 Terrain Dr NW	0.63mi	3/2.5	1,460 (+15%)	12mo	$295,000	$202	34

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

Projected returns pro-forma

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

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-36,906
• Equity at exit: $32,057

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-34,823
• Equity at exit: $18,589

Cash invested: $60,200 (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 28613

• Home prices YoY: -22.7%
• Active inventory: 170
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,767 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$145 /mo · $1,736/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-32

Break-even live

Break-even rent $1,808

Max offer price $209,291

Occupancy floor 97%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1602 County Home Rd Conover, NC	3.0	2.0	1400	$2,150	$1.54	13d	1	0.42mi
3939 Newhall Dr NW Hickory, NC	3.0	1.5	1158	$1,450	$1.25	12d	1	1.16mi
3971 Newhall Dr NW Hickory, NC	3.0	1.5	1158	$1,395	$1.20	5d	1	1.20mi
1615 Oak Leaf Dr NW Hickory, NC	2.0	2.5	1280	$1,400	$1.09	12d	1	1.21mi

Listing history 5 events

1. 2026-06-09
   status $215,000 Pending 4 DOM
2. 2026-06-08
   days on market $215,000 Active 4 DOM
3. 2026-06-07
   days on market $215,000 Active 3 DOM
4. 2026-06-05
   remarks 695-char remark
5. 2026-06-05
   listed $215,000 Active 1 DOM

ⓘ 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: $1,736 · $145/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$27/yr (+$2/mo · 1.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $21,203
• − Mortgage interest: −$12,043
• − Property taxes: −$1,736
• − Insurance: −$1,872
• − Repairs & maintenance: −$1,696
• − Management: −$1,696
• − Depreciation: −$6,255
• Taxable loss: −$4,096
• Est. tax savings @ 24.0%: +$983
• After-tax cash flow: $595/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: Newton Conover City Schools
• NCES district ID: 3703360
• Math proficiency: 49% ▲ 11.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $39,491
• Composite: 40.13/100
• National rank: #3797
• State rank: #74 of 178 in NC

Livability — Conover

• Score: 68/100
• State rank: #206
• US rank: #10020

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Conover, NC
• City population: 23,486
• Population (ZIP): 23,486

Population outlook (Catawba County) Hauer SSP2

• Today (2025): 156,513 people
• By 2030: 155,267 · -0.8%
• By 2040: 151,110 · -3.5%
• By 2050: 145,524 · -7.0%
• By 2075: 134,047 · -14.4%
• By 2100: 119,424 · -23.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Two or more races 9% Asian 6% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 2% Romanian 2% Serbian 2%
• Foreign-born: 9% · Canada, China, Guatemala
• Languages at home: 81% English-only · Spanish 14% Other Asian/Pacific 4%

Political lean MEDSL · Catawba

• 2024 margin: Solid R (+38.0) · D 30.6% · R 68.6%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.0pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+37.0 2016: R+38.0 2012: R+29.6 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.84%
• Current HPI: 257.5894
• 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

1 event — show timeline

• 2026-06-04 Listed $215,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2024): $1,736 · +0.0% YoY. Source: county tax records.