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1559 Old Henrietta Rd
Forest City, NC

1559 Old Henrietta Rd

$250,000
2 bd • 1 ba • 1,264 sf

This analysis was generated by artificial intelligence on 1/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$250,000

Price/Sq.Ft

$198

Year Built

1939

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This charming stone cottage offers exceptional value at $197.78/sqft, significantly below the Forest City average. The property sits on a generous 2-acre lot, providing privacy and potential for expansion. Recent updates include a modern kitchen with stainless steel appliances and an updated bathroom with a double vanity. The home's unique stone exterior and 1939 construction date offer historic appeal, while the unfinished upstairs presents an opportunity for customization. Climate risk scores are favorable, with minimal flood risk (1/10) and minor wind risk (2/10), potentially leading to lower insurance costs. The property has shown impressive appreciation, increasing from $38,000 in 2017 to its current $250,000 listing price, a 557% increase over 8 years.

The Bad

At 1,264 sqft, the living space is compact for a 2-bedroom home, potentially limiting appeal for families. The single bathroom may be a drawback for some buyers. The moderate fire risk (4/10) and major heat risk (6/10) could impact insurance costs and summer comfort. With only one full bathroom, the home may feel dated compared to modern expectations. The local schools have below-average ratings (4-6/10), which may deter families with school-age children. The rural location, while offering privacy, may limit access to urban amenities and potentially affect resale value.

The Ugly

The property's age (86 years) suggests potential for significant maintenance issues and hidden problems, despite recent updates. The ductless HVAC system may not provide efficient heating and cooling for the entire home, especially during extreme temperature days. The unfinished upstairs, while offering potential, represents an additional investment required to maximize the home's value. The dramatic price fluctuations in the property's history (from $5,000 in 2013 to $250,000 now) raise questions about the stability of local property values and the accuracy of current pricing. The lack of information on median income and comprehensive rental rates makes it difficult to assess the property's investment potential fully.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for buyers seeking a unique, charming home with a blend of historic character and modern updates. It's well-suited for: 1. First-time homebuyers or downsizers who appreciate character homes and don't need extensive square footage. 2. Remote workers or retirees looking for a peaceful, rural setting with ample outdoor space. 3. DIY enthusiasts or investors interested in adding value through finishing the upstairs space. 4. Nature lovers who will appreciate the 2-acre lot and outdoor living potential. 5. Buyers with a household income of approximately $70,000-$90,000, based on a 28% front-end DTI ratio for a $250,000 home.

Not For

This property is not suitable for: 1. Large families requiring 3+ bedrooms or multiple bathrooms. 2. Buyers seeking a move-in ready home with no additional work needed. 3. Those prioritizing top-rated school districts (local schools rate 4-6/10). 4. Individuals with limited mobility, due to the potential second floor and rural setting. 5. Buyers seeking a home with strong rental potential, given the lack of local rental data. 6. Those uncomfortable with the potential maintenance requirements of an older home.
Demographics
Area Median Income

$0

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Risk Assessment

Climate Risks

heatMAJOR

7 extreme heat days per year

98th percentile: 105°F

fireMODERATE

Insurance: Recommended

airMODERATE

3 bad air quality days per year

windMINOR

Insurance: Recommended

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

Risk Analysis

1. Age-related issues: Despite updates, an 86-year-old home may have hidden structural problems or outdated systems requiring expensive repairs. 2. Climate risks: The major heat risk (6/10) could necessitate costly cooling system upgrades. The moderate fire risk (4/10) may increase insurance premiums and require additional fire safety measures. 3. Market volatility: The property's price history shows extreme fluctuations, suggesting potential instability in local market values. 4. Unfinished spaces: Completing the upstairs area could be more costly than anticipated, impacting overall investment. 5. Rural location: While offering privacy, it may limit future resale potential and appeal to a narrower buyer pool. 6. Septic system: If present (common in rural areas), it could require expensive maintenance or replacement. 7. Foundation issues: Given North Carolina's clay soil, the property may be prone to foundation problems, especially considering its age. 8. Zoning and land use: The 2-acre lot may have restrictions on future development or land use changes.
Insurance
Annual Cost

$900

$75 per month

Financials

Monthly Costs

Price History

Property Taxes

$826
2023 Tax Assessment
16.4%from previous year
Assessed Value$122,300
Tax Rate0.68%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$47,333

-81.1% below list price

Median Price

$59,500

Based on 3 recent sales

Price per Sq.Ft

$0

Comparable Properties

00 Arnold, Mooresboro, NC 28114
Price: $59,500
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 8/20/2024
00 Arnold Drive, Mooresboro, NC 28114
Price: $59,500
Sq.Ft: 0
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 8/20/2024
0 Arnold Drive, Mooresboro, NC 28114
Price: $23,000
Sq.Ft: 0
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 7/29/2024

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