207 W 9th Ave · Lexington, NC 27292

$129,000

2 bd · 2.0 ba · 1,294 sqft · SingleFamily public records · 34 Days on market

Built 1927 0.31 ac lot Est $210k · 38% under

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Why this score? — see what drove the C 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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Full of timeless character and classic Lexington charm, this nearly 1,800 square foot home is the perfect opportunity for someone looking to add their own touch and build instant equity. Originally built in the 1920s, this property sits on a generously sized lot just minutes from downtown Lexington and offers the kind of warmth and personality that’s hard to find today. Inside, you’ll find original hardwood floors, shiplap accents, cozy living spaces, and vintage details throughout. While the home does need some TLC and cosmetic updates, the potential here is undeniable. Whether you’re an investor, first-time buyer with vision, or someone who appreciates older homes with c

Key facts

• Vintage details
• Generously sized lot
• Shiplap accents

Tags

• ORIGINAL HARDWOOD FLOORS
• SHIPLAP ACCENTS
• VINTAGE DETAILS
• GENEROUSLY SIZED LOT

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Level topography
• Construction: Vinyl siding
• Exterior features: Covered front porch; Porch

Interior

• Kitchen: Free-standing electric range; Refrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living areas)
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Eat-in kitchen; Storage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (6.1% below list).
• Recommended offer: $121k (6.1% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.5% in Lexington — 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 72/100 on livability (#89 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D, crime F, amenities D-.
• Lexington City Schools (suburban): math 32% / reading 38% proficiency, ranked #136 of 178 in NC (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.4%/yr); 400 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 990 units permitted in Davidson County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Davidson 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 34 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $64k; list at $129k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $121,141 (6.1% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.94% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $209,628
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
997 Robbins Cir	0.16mi	3/2.0 (+1)	1,254 (-3%)	0mo	$170,000	$136	82
827 Ford St	0.05mi	3/1.5 (+1)	1,252 (-3%)	6mo	$167,000	$133	81
13 Pickard Cir	0.25mi	3/2.0 (+1)	1,262 (-2%)	2mo	$217,000	$172	78
704 Archdale Dr	0.40mi	3/2.0 (+1)	1,334 (+3%)	1mo	$285,000	$214	71
820 Hargrave St	0.04mi	3/2.0 (+1)	1,455 (+12%)	9mo	$202,500	$139	65
718 W 4th Ave	0.49mi	3/2.0 (+1)	1,332 (+3%)	7mo	$215,900	$162	61
507 Quail Ln	0.39mi	3/2.0 (+1)	1,400 (+8%)	2mo	$261,500	$187	61
101 Booker Ave	0.54mi	3/2.0 (+1)	1,246 (-4%)	4mo	$195,000	$157	60
511 Raeford Ave	0.70mi	3/2.0 (+1)	1,357 (+5%)	3mo	$90,000	$66	52
505 Hunters Way	0.45mi	3/2.0 (+1)	1,451 (+12%)	9mo	$280,500	$193	46
304 Pope St	0.71mi	3/2.5 (+1)	1,426 (+10%)	4mo	$230,000	$161	39
705 Laurel Ave	0.72mi	3/1.0 (+1)	1,168 (-10%)	9mo	$199,900	$171	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 · 1.37% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-10,665
• Equity at exit: $19,234

10-year hold

• IRR: -0.7%
• Equity multiple: 0.96×
• Total profit: $-1,516
• Equity at exit: $11,154

Cash invested: $36,120 (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 27292

• Home prices YoY: -22.1%
• Rents YoY: 1.4%
• Active inventory: 400
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,211 high
• Mortgage (P&I): −$676
• Tax from tax record: −$34 /mo · $413/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $192

Break-even live

Break-even rent $968

Max offer price $129,000

Occupancy floor 79%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Williamson St Unit B Lexington, NC	2.0	1.0	896	$1,000	$1.12	23d	1	0.88mi
420 Salem St Unit H Lexington, NC	2.0	1.5	1100	$875	$0.80	19d	1	1.06mi
812 Fairview Dr Apt 450A Lexington, NC	2.0	1.5	976	$1,450	$1.49	23d	1	1.09mi
812 Fairview Dr Apt 200D Lexington, NC	2.0	1.5	976	$1,249	$1.28	21d	1	1.09mi
500 Rylee Ln Lexington, NC	3.0	2.0	1200	$1,550	$1.29	14d	1	1.28mi

Listing history 20 events

1. 2026-06-18
   days on market $129,000 Active 34 DOM
2. 2026-06-17
   days on market $129,000 Active 33 DOM
3. 2026-06-16
   days on market $129,000 Active 32 DOM
4. 2026-06-15
   days on market $129,000 Active 31 DOM
5. 2026-06-14
   days on market $129,000 Active 29 DOM
6. 2026-06-10
   days on market $129,000 Active 26 DOM
7. 2026-06-09
   days on market $129,000 Active 25 DOM
8. 2026-06-08
   days on market $129,000 Active 24 DOM
9. 2026-06-07
   days on market $129,000 Active 23 DOM
10. 2026-06-05
    days on market $129,000 Active 20 DOM
11. 2026-06-03
    days on market $129,000 Active 19 DOM
12. 2026-06-02
    days on market $129,000 Active 18 DOM
13. 2026-06-01
    days on market $129,000 Active 17 DOM
14. 2026-05-31
    days on market $129,000 Active 16 DOM
15. 2026-05-31
    days on market $129,000 Active 15 DOM
16. 2026-05-15
    listed $129,000 Active
17. 2016-05-23
    price $72,999
18. 2016-04-25
    price $77,500
19. 2016-03-14
    price $77,900
20. 1999-09-01
    soldstatus $64,000

ⓘ 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: $413 · $34/mo
• Projected year-2 tax: $1,058 · $88/mo
• Expected delta: +$645/yr (+$54/mo · 156.3%)

ⓘ 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 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,537
• − Mortgage interest: −$7,226
• − Property taxes: −$413
• − Insurance: −$645
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$3,753
• Taxable income: $175
• Est. tax owed @ 24.0%: −$42
• After-tax cash flow: $2,267/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: Lexington City Schools
• NCES district ID: 3702640
• Math proficiency: 32% ▲ 3.00%
• Reading proficiency: 38% ▲ 6.00%
• Median HH income: $27,758
• Composite: 28.2/100
• National rank: #6807
• State rank: #136 of 178 in NC

Livability — Lexington

• Score: 72/100
• State rank: #89
• US rank: #6051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lexington, NC
• County: Davidson County · 129,088 people
• City population: 79,578
• Metro: Winston-Salem, NC
• Population (ZIP): 40,311
• Household income: $57,264
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 1001.0

Population outlook (Davidson County) Hauer SSP2

• Today (2025): 167,156 people
• By 2030: 167,216 · +0.0%
• By 2040: 164,524 · -1.6%
• By 2050: 157,229 · -5.9%
• By 2075: 138,084 · -17.4%
• By 2100: 112,729 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 13% Two or more races 9% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 1% Slovak 1% Serbian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Davidson

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.1%
• 2008→2024 swing: -13.5pp toward R · 2008: -33.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+47.5 2016: R+49.4 2012: R+40.9 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.79%
• Current HPI: 267.074
• Rent YoY: ▲ 1.37%
• Metro: Winston-Salem, 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

+101.6% since first listed

5 events — show timeline

• 2026-05-15 Listed $129,000 LPRMLS
• 2016-05-23 Price Changed $72,999 Triad MLS
• 2016-04-25 Price Changed $77,500 Triad MLS
• 2016-03-14 Price Changed $77,900 Triad MLS
• 1999-09-01 Sold (Public Records) $64,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $413 · +0.0% YoY. Source: county tax records.