817 Jackson St S · Salisbury, NC 28144

$169,000

5 bd · 1.0 ba · 2,080 sqft · SingleFamily public records · 269 Days on market

Built 1900 4,791 sqft lot Est $291k · 42% under ↓ 3% since listing

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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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.6/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

OLDER 2 STORY HOUSE WITH LARGE ROOMS IN HISTORIC WEST SQUARE NEIGHBORHOOD OF SALISBURY. HOUSE. A GOOD OPPORTUNITY FOR THE NEXT OWNER TO PERSONALIZE TO THEIR TASTES.

Key facts

• 4,791 sq ft lot
• Built 1900
• Listed 269 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: On-street parking
• Utilities: City water; Public sewer
• Home design: Single family residence; Site-built construction; Two levels
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Publicly maintained paved road access

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bedrooms: Five bedrooms total (2 on the main level, 3 on the upper level)
• Bathrooms: Two full bathrooms (one main level, one upper level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Crawl space foundation; Fireplace
• Laundry & utility: Laundry located in a bathroom

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.3% in Salisbury — 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 64/100 on livability (#365 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, 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.
• Zoned schools: Koontz Elementary (math 8% / reading 17%, grade F, #1,362 of 1,410 statewide, top 97%, 515 students, 94% FRL); Knox Middle (math 12% / reading 21%, grade F, #449 of 475 statewide, top 96%, 514 students, 95% FRL); Salisbury High (math 27% / reading 47%, grade F, #414 of 535 statewide, top 79%, 959 students, 66% FRL) — zoned schools average 85% FRL vs 54% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 291 active listings in the ZIP; 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).
• This rent runs 45% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($149k) 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

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 269 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
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 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: 1.16% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.56%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $291,200
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 S Fulton St	0.20mi	4/2.0 (-1)	2,078 (-0%)	14mo	$300,000	$144	70
528 Mitchell Ave	0.66mi	5/3.5	2,137 (+3%)	3mo	$300,000	$140	53
510 Wiley Ave	0.59mi	4/2.0 (-1)	2,133 (+2%)	12mo	$325,000	$152	49
799 Gondola Ct	0.71mi	4/2.5 (-1)	2,078 (-0%)	13mo	$365,445	$176	45
182 Ryan St	0.48mi	4/2.0 (-1)	1,879 (-10%)	12mo	$232,000	$123	42
1175 Kildare Dr #3	0.70mi	4/2.0 (-1)	1,902 (-9%)	6mo	$331,400	$174	38
129 Maupin Ave	0.50mi	4/3.0 (-1)	2,319 (+12%)	14mo	$140,000	$60	33
525 Mitchell Ave	0.67mi	4/2.0 (-1)	2,254 (+8%)	18mo	$260,000	$115	31
401 Mitchell Ave	0.56mi	4/2.0 (-1)	2,354 (+13%)	22mo	$325,000	$138	24

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-856
• Equity at exit: $25,198

10-year hold

• IRR: 9.2%
• Equity multiple: 1.71×
• Total profit: $33,447
• Equity at exit: $14,612

Cash invested: $47,320 (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 28144

• Active inventory: 291
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,967 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$181 /mo · $2,175/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $416

Break-even live

Break-even rent $1,440

Max offer price $169,000

Occupancy floor 74%

Sensitivity live

Price	-10% $512	-5% $464	+0% $416	+5% $369	+10% $321
Rent	-10% $261	-5% $339	+0% $416	+5% $494	+10% $572
Rate	-1.0pp $501	-0.5pp $459	base $416	+0.5pp $373	+1.0pp $328

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $169,000 Active 269 DOM
2. 2026-06-18
   days on market $169,000 Active 266 DOM
3. 2026-06-17
   days on market $169,000 Active 265 DOM
4. 2026-06-16
   days on market $169,000 Active 264 DOM
5. 2026-06-15
   days on market $169,000 Active 263 DOM
6. 2026-06-13
   days on market $169,000 Active 261 DOM
7. 2026-06-10
   days on market $169,000 Active 257 DOM
8. 2026-06-08
   days on market $169,000 Active 256 DOM
9. 2026-06-07
   days on market $169,000 Active 255 DOM
10. 2026-06-04
    days on market $169,000 Active 252 DOM
11. 2026-06-03
    days on market $169,000 Active 251 DOM
12. 2026-06-02
    days on market $169,000 Active 250 DOM
13. 2026-06-01
    days on market $169,000 Active 249 DOM
14. 2026-05-31
    days on market $169,000 Active 248 DOM
15. 2026-02-02
    price $169,000
16. 2025-11-03
    status Active
17. 2025-10-27
    historical Active Under Contract
18. 2025-09-24
    listed $175,000 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: $2,175 · $181/mo
• Projected year-2 tax: $2,175 · $181/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $23,609
• − Mortgage interest: −$9,467
• − Property taxes: −$2,175
• − Insurance: −$845
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − Depreciation: −$4,916
• Taxable income: $2,429
• Est. tax owed @ 24.0%: −$583
• After-tax cash flow: $4,413/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 — Salisbury

• Score: 64/100
• State rank: #365
• US rank: #14533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, NC
• County: Rowan County · 103,630 people
• City population: 85,081
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 27,977
• Household income: $52,568
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 1438.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 49% Black 35% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

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: ▼ -217.00%
• Current HPI: 276.1097
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

-3.4% since first listed

4 events — show timeline

• 2026-02-02 Price Changed $169,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-03 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-10-27 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-09-24 Listed $175,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $2,175 · +0.0% YoY. Source: county tax records.