117 24th St NW · Long View, NC 28601

$173,000

2 bd · 1.5 ba · 1,003 sqft · Condo public records · 156 Days on market

Built 2003 $85/mo HOA · 6% 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).

• Cash flow +11.9/30.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• DSCR +3.5/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-In Ready, Fully Handicap Accessible Townhome in Hickory! Discover easy, one-level living in this spacious 2 bedroom, 1.5 bath end-unit townhome, perfectly situated in a private and quiet location while still offering quick access to all Hickory amenities. This home is fully handicap accessible and thoughtfully updated throughout, making it ideal for anyone seeking comfort, convenience, and low-maintenance living. Key Features: • One-story end unit with a private setting • New carpet in both bedrooms • Bedrooms feature large closets and share a beautifully renovated Jack & Jill bathroom with: – Tile walk-in shower – New vanity – New toilet

Key facts

• $85 HOA
• Built 2003
• Listed 156 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $173k.

Deal economics

• At list price, monthly cash flow is $-43 ($-518/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (18.6% below list).
• Recommended offer: $141k (18.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#416 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: schools F, amenities F, commute F.
• Hickory City Schools (urban): math 43% / reading 44% proficiency, ranked #95 of 178 in NC (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.9%/yr); 423 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 $5k 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

• It's been on market 156 days — a 12% lower offer ($152k) 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: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,897 (18.6% 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 156 days. Have you received any prior offers? Is the seller open to a 19% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 0.81% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.91% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.39×
• Total profit: $-29,485
• Equity at exit: $25,795

10-year hold

• IRR: -7.5%
• Equity multiple: 0.51×
• Total profit: $-23,788
• Equity at exit: $14,958

Cash invested: $48,440 (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 28601

• Home prices YoY: -27.2%
• Rents YoY: 3.9%
• Active inventory: 423
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,409 high
• Mortgage (P&I): −$907
• Tax from tax record: −$92 /mo · $1,104/yr
• Insurance: −$72
• HOA: −$85
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-43

Break-even live

Break-even rent $1,464

Max offer price $165,371

Occupancy floor 98%

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: $43,250
• Closing costs: $5,190
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
128 18th Street Pl NW Hickory, NC	3.0	2.5	1333	$1,595	$1.20	21d	1	0.54mi
130 18th St SW Hickory, NC	3.0	2.5	1333	$1,595	$1.20	21d	1	0.59mi
522 17th St SW Hickory, NC	2.0	1.0	750	$800	$1.07	21d	1	0.79mi
823 31st St SW Hickory, NC	3.0	2.5	1335	$1,775	$1.33	21d	1	0.89mi
1131 3rd Ave SW Hickory, NC	2.0	1.5	1024	$1,100	$1.07	13d	1	1.23mi

HOA detail condo

• Monthly dues: $85 · $1,020/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-04-19
   status Pending
2. 2026-04-15
   price $173,000
3. 2026-03-25
   status Active
4. 2026-03-10
   historical Active Under Contract
5. 2025-11-15
   listed $178,500 Active
6. 2025-11-14
   historical $178,500
7. 2025-06-03
   soldstatus $152,000
8. 2021-06-28
   soldstatus $112,500

ⓘ 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: $1,104 · $92/mo
• Projected year-2 tax: $1,419 · $118/mo
• Expected delta: +$315/yr (+$26/mo · 28.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,908
• − Mortgage interest: −$9,691
• − Property taxes: −$1,104
• − Insurance: −$865
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − HOA: −$1,020
• − Depreciation: −$5,033
• Taxable loss: −$3,510
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $324/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: Hickory City Schools
• NCES district ID: 3702190
• Math proficiency: 43% ▲ 2.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $38,399
• Composite: 36.29/100
• National rank: #4700
• State rank: #95 of 178 in NC

Livability — Long View

• Score: 63/100
• State rank: #416
• US rank: #15606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long View, NC
• County: Catawba County · 105,763 people
• Metro: Hickory-Lenoir-Morganton, NC
• Population (ZIP): 53,329
• Household income: $67,817
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1276.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 9% Black 8% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 4% Slovak 2% Serbian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 7% Other Asian/Pacific 3% Other Indo-European 1%

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: ▼ -89.98%
• Current HPI: 241.0743
• Rent YoY: ▲ 3.91%
• Metro: Hickory-Lenoir-Morganton, NC
• 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

+53.8% since first listed

8 events — show timeline

• 2026-04-19 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $173,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-25 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-03-10 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-11-15 Listed $178,500 CANOPYMLS as Distributed by MLS Grid
• 2025-11-14 Coming Soon $178,500 CANOPYMLS as Distributed by MLS Grid
• 2025-06-03 Sold (Public Records) $152,000 Public Records
• 2021-06-28 Sold (Public Records) $112,500 Public Records

Property tax history

+5.1%/yr

Latest (2024): $1,104 · +0.0% YoY. Source: county tax records.