Score
0Forest City, NC
1559 Old Henrietta Rd
250K
2 beds
1 baths
1,264 sqft
2 bd • 1 ba • 1,264 sf
This analysis was generated 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
Property History
Price History
Ownership Timeline
$200,000Financed
Oct 23, 2023Joan C Kimbrell, Joseph C KimbrellTamara Sue Richardson
Warranty Deed
Standard Sale (Purchase/Resales)
$38,000Cash Purchase
Aug 1, 2017Helen P Anderson, John Ralph AndersonJoseph C Kimbrell, Joan C Kimbrell
Warranty Deed
Non-Arm's Length Transactions
$5,000Cash Purchase
Jun 20, 2013Sandra Love, Andy LoveHelen P Anderson, Ann P Elliott
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Mar 3, 2013Monique AbramsHelen P Anderson, Ann P Elliott
Warranty Deed
Non-Arm's Length Transactions
Property Taxes
$826
2023 Tax Assessment
16.4%from previous year
Assessed Value$122,300
Tax Rate0.68%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
4.0/10
AverageHigh
5.0/10
AverageFinancials
Monthly Costs
Market Rent (2 bed)
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$250,000
Price/sqft
$198
Layout
2 bd•1 ba
Days on market
16 daysat time of analysis
Stats in the Area
Based on 3 comparable properties nearby
Average Price
$47,333
428.2%
Your price is 428.2% above average
Median Price
$59,500
320.2%
Based on 3 recent sales
Price per Sq.Ft
N/A
No price per sq.ft data available
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 00 Arnold, Mooresboro, NC 28114 | $59,500 | N/A | N/A | N/A | N/A | 8/20/2024 |
| 00 Arnold Drive, Mooresboro, NC 28114 | $59,500 | 0 | N/A | N/A | N/A | 8/20/2024 |
| 0 Arnold Drive, Mooresboro, NC 28114 | $23,000 | 0 | N/A | N/A | N/A | 7/29/2024 |
00 Arnold, Mooresboro, NC 28114
Price: $59,500
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 8/20/2024
00 Arnold Drive, Mooresboro, NC 28114
Price: $59,500
Sq.Ft: 0
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 8/20/2024
0 Arnold Drive, Mooresboro, NC 28114
Price: $23,000
Sq.Ft: 0
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 7/29/2024
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