23 Ryan Nicole Ln · Greensboro, NC 27407

$199,900

3 bd · 2.5 ba · 1,275 sqft · Townhouse public records · 266 Days on market

Built 2002 Est $208k · at est. $249/mo HOA · 13% 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 +12.1/30.0
• ARV discount +9.2/15.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Maintenance-free living at its best! Beautiful 3 bedroom, 2.5 bath townhome with open floor plan on main level. Kitchen has island, new stainless appliances and a great pantry. Large laundry room. Large master bedroom w/large walk-in closet and dual vanity master bath. Updated laminate flooring throughout the main level. Water and trash bill included in HOA! Home is walking distance to 1 of the 2 pools. Convenient to everything! All appliances (except microwave) remain w/acceptable offer!

Key facts

• Walk-in closet
• Primary suite
• En-suite bath

Tags

• PRIMARY SUITE
• CATHEDRAL CEILING
• WALK-IN CLOSET
• EN-SUITE BATH
• DOUBLE VANITIES
• WELL APPOINTED KITCHEN

Property features AI

Finance

• Other: Directions provided by listing
• HOA & community: HOA managed by Red Rock Management; Monthly association fee of $249.55; Subdivision: Rachel's Keep; Association: Greensboro

Exterior

• Parking: Assigned parking (no garage spaces)
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer; Electric water heater; Natural gas heating
• Home design: Residential townhouse; Stick/site built construction; Two stories; Built in 2002; Entry level: Main
• Construction: Vinyl siding; Slab foundation
• Exterior features: City lot, cleared; Cable available; Community pool; No fencing; Storage structure on property

Interior

• Kitchen: Microwave; Dishwasher; Disposal; Range; Cooktop; Kitchen island; Pantry; Electric water heater
• Bedrooms: Two bedrooms on the second level (approx. 11'6" x 12'6" and 9'6" x 12'6")
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Pulldown attic stairs; Insulated doors and windows; Ceiling fans; Deadbolt locks; Kitchen island; Pantry; Vaulted ceilings
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $-45 ($-538/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (5.7% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 3.7% in Greensboro — 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 81/100 on livability (#12 in NC, #1,335 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edwin A Alderman Elementary (math 37% / reading 22%, grade F, #975 of 1,410 statewide, top 71%, 395 students, 99% FRL); Western Guilford Middle (math 23% / reading 38%, grade F, #331 of 475 statewide, top 70%, 732 students, 100% FRL); Western Guilford High (math 42% / reading 60%, grade D+, #303 of 535 statewide, top 57%, 1,444 students, 61% FRL) — zoned schools average 87% FRL vs 52% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 223 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).
• This rent runs 38% of the median local income ($59k/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 $6k of value loss. Plan a longer hold.
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $101k; list at $200k implies a 98% gain — meaningful room to come down on a strong offer.

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 $175,912 (12.0% 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 266 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
8. 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.
9. 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.
10. 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: 6.02%
• Cash-on-cash: -0.96%
• DSCR: 0.96
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $207,825
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5302 Strasburg Dr	0.04mi	3/2.5	1,280 (+0%)	1mo	$205,000	$160	97
5116 Bartholomews Ln	0.10mi	2/2.5 (-1)	1,270 (-0%)	8mo	$226,900	$179	84
327 Bridford Downs Dr	0.09mi	3/2.5	1,311 (+3%)	10mo	$236,000	$180	83
341 Malamute Ln	0.06mi	2/2.5 (-1)	1,320 (+4%)	7mo	$195,000	$148	80
10 Raelans Cir	0.05mi	3/2.5	1,362 (+7%)	8mo	$217,500	$160	80
22 Peggy Sue Ct	0.09mi	2/2.5 (-1)	1,338 (+5%)	10mo	$210,000	$157	74
5430 Strasburg Dr	0.18mi	2/2.5 (-1)	1,336 (+5%)	8mo	$218,500	$164	72
222 Bridford Downs Dr	0.18mi	3/2.5	1,402 (+10%)	9mo	$228,000	$163	68
220 Bridford Downs Dr	0.18mi	2/2.5 (-1)	1,360 (+7%)	10mo	$228,000	$168	67
137 Bridford Downs Dr #137	0.26mi	2/2.5 (-1)	1,360 (+7%)	8mo	$210,000	$154	65
299 Malamute Ln	0.06mi	2/2.5 (-1)	1,085 (-15%)	8mo	$201,000	$185	61
917 Shelby Dr Unit D	0.73mi	2/2.5 (-1)	1,323 (+4%)	3mo	$180,000	$136	53

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 · 3.5% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-34,171
• Equity at exit: $29,806

10-year hold

• IRR: -8.0%
• Equity multiple: 0.48×
• Total profit: $-28,983
• Equity at exit: $17,284

Cash invested: $55,972 (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 27407

• Rents YoY: 3.5%
• Active inventory: 223
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,885 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$154 /mo · $1,845/yr
• Insurance: −$83
• HOA: −$249
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-45

Break-even live

Break-even rent $1,942

Max offer price $191,982

Occupancy floor 97%

Sensitivity live

Price	-10% $68	-5% $12	+0% $-45	+5% $-101	+10% $-158
Rent	-10% $-194	-5% $-119	+0% $-45	+5% $30	+10% $104
Rate	-1.0pp $56	-0.5pp $6	base $-45	+0.5pp $-97	+1.0pp $-149

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Bridford Downs Dr Greensboro, NC	2.0	2.5	1360	$2,500	$1.84	25d	1	0.06mi
405 Tullow Trl Greensboro, NC	1.0–3.0	1.0–2.0	1174	$1,890	$1.61	16d	10	0.23mi
1402 Bridford Pkwy Greensboro, NC	1.0–3.0	1.0–2.0	1047	$1,839	$1.76	21d	13	0.48mi
1521 Bridford Pkwy Greensboro, NC	1.0–3.0	1.0–2.0	1120	$1,888	$1.68	16d	31	0.63mi
4227 Edith Ln Unit A Greensboro, NC	2.0	1.0	938	$1,500	$1.60	16d	1	0.83mi
4708 Wakewood Dr Greensboro, NC	4.0	2.0	1684	$2,065	$1.23	25d	1	0.87mi
4725 Pennoak Rd Greensboro, NC	3.0	2.0	1650	$1,700	$1.03	16d	1	0.90mi
2 Chaucer Ct Greensboro, NC	3.0	2.0	1620	$2,050	$1.27	21d	1	1.04mi
4702 Pennoak Ln Greensboro, NC	2.0	2.0	1188	$1,100	$0.93	21d	1	1.09mi
5701 Battery Dr Greensboro, NC	2.0	2.0	1250	$1,400	$1.12	21d	1	1.15mi
5715 Bramblegate Rd Greensboro, NC	2.0	2.5	1054	$1,245	$1.18	25d	1	1.15mi
1338 Adams Farm Pkwy Greensboro, NC	1.0–3.0	1.0–2.0	1124	$1,755	$1.56	16d	23	1.15mi
2606 Pennoak Way Greensboro, NC	2.0	2.0	1190	$1,322	$1.11	25d	2	1.18mi
5729 Bramblegate Rd Unit F Greensboro, NC	2.0	2.5	1100	$1,300	$1.18	21d	1	1.22mi
5729 Bramblegate Rd Unit F Greensboro, NC	2.0	2.5	1100	$1,300	$1.18	25d	1	1.22mi
800 Folly Ct Greensboro, NC	3.0	2.0	1248	$1,650	$1.32	25d	1	1.22mi
5269 Hilltop Rd Greensboro, NC	1.0–3.0	1.0–2.0	1014	$1,648	$1.62	16d	28	1.23mi
407 Guilford College Rd Greensboro, NC	1.0–2.0	1.0–2.0	865	$1,284	$1.48	16d	6	1.25mi
5735 Bramblegate Rd Unit 5735-G Greensboro, NC	2.0	2.5	1152	$1,500	$1.30	16d	1	1.29mi
5 Sedgelane Ct Greensboro, NC	3.0	2.0	1565	$1,920	$1.23	16d	1	1.34mi
30 Brandy Dr Greensboro, NC	2.0	2.0	1176	$1,750	$1.49	25d	1	1.38mi
5814 Battery Dr Greensboro, NC	2.0	2.5	1368	$1,375	$1.01	25d	1	1.40mi
6227 Nile Pl Greensboro, NC	1.0–2.0	1.0–2.0	831	$1,365	$1.64	23d	38	1.43mi
5504 Richland St Greensboro, NC	3.0	2.0	1344	$2,000	$1.49	25d	1	1.47mi
5721 Friendswood Dr Greensboro, NC	3.0	1.5	1566	$2,060	$1.32	25d	1	1.49mi

HOA detail

• Monthly dues: $249 · $2,988/yr
• Likely covers: watertrashpool

Listing history 25 events

1. 2026-06-22
   days on market $199,900 Active 266 DOM
2. 2026-06-18
   days on market $199,900 Active 263 DOM
3. 2026-06-17
   days on market $199,900 Active 262 DOM
4. 2026-06-16
   days on market $199,900 Active 261 DOM
5. 2026-06-15
   days on market $199,900 Active 260 DOM
6. 2026-06-14
   days on market $199,900 Active 258 DOM
7. 2026-06-10
   days on market $199,900 Active 255 DOM
8. 2026-06-09
   days on market $199,900 Active 254 DOM
9. 2026-06-08
   days on market $199,900 Active 253 DOM
10. 2026-06-07
    pricedays on market $199,900 Active 252 DOM
11. 2026-06-03
    days on market $209,900 Active 248 DOM
12. 2026-06-02
    days on market $209,900 Active 247 DOM
13. 2026-06-01
    days on market $209,900 Active 246 DOM
14. 2026-05-31
    days on market $209,900 Active 245 DOM
15. 2026-05-31
    days on market $209,900 Active 244 DOM
16. 2026-03-22
    price $209,900
17. 2026-02-25
    price $210,900
18. 2025-12-02
    status Active
19. 2025-12-01
    historical
20. 2025-09-26
    listed $219,500 Active
21. 2016-09-21
    soldstatus $101,000 Sold 493-char remark

    Show marketing remark (493 chars)

    Maintenance-free living at its best! Beautiful 3 bedroom, 2.5 bath townhome with open floor plan on main level. Kitchen has island, new stainless appliances and a great pantry. Large laundry room. Large master bedroom w/large walk-in closet and dual vanity master bath. Updated laminate flooring throughout the main level. Water and trash bill included in HOA! Home is walking distance to 1 of the 2 pools. Convenient to everything! All appliances (except microwave) remain w/acceptable offer!

22. 2016-09-21
    soldstatus $101,000

    Show marketing remark (493 chars)

    Maintenance-free living at its best! Beautiful 3 bedroom, 2.5 bath townhome with open floor plan on main level. Kitchen has island, new stainless appliances and a great pantry. Large laundry room. Large master bedroom w/large walk-in closet and dual vanity master bath. Updated laminate flooring throughout the main level. Water and trash bill included in HOA! Home is walking distance to 1 of the 2 pools. Convenient to everything! All appliances (except microwave) remain w/acceptable offer!

23. 2016-09-02
    status Due Diligence Period 493-char remark

    Show marketing remark (493 chars)

    Maintenance-free living at its best! Beautiful 3 bedroom, 2.5 bath townhome with open floor plan on main level. Kitchen has island, new stainless appliances and a great pantry. Large laundry room. Large master bedroom w/large walk-in closet and dual vanity master bath. Updated laminate flooring throughout the main level. Water and trash bill included in HOA! Home is walking distance to 1 of the 2 pools. Convenient to everything! All appliances (except microwave) remain w/acceptable offer!

24. 2016-08-25
    listed $106,900 Active 493-char remark

    Show marketing remark (493 chars)

    Maintenance-free living at its best! Beautiful 3 bedroom, 2.5 bath townhome with open floor plan on main level. Kitchen has island, new stainless appliances and a great pantry. Large laundry room. Large master bedroom w/large walk-in closet and dual vanity master bath. Updated laminate flooring throughout the main level. Water and trash bill included in HOA! Home is walking distance to 1 of the 2 pools. Convenient to everything! All appliances (except microwave) remain w/acceptable offer!

25. 2009-03-05
    soldstatus $110,500

ⓘ 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: $1,845 · $154/mo
• Projected year-2 tax: $1,845 · $154/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 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,625
• − Mortgage interest: −$11,198
• − Property taxes: −$1,845
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − HOA: −$2,988
• − Depreciation: −$5,815
• Taxable loss: −$3,840
• Est. tax savings @ 24.0%: +$922
• After-tax cash flow: $384/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: Guilford County Schools
• NCES district ID: 3701920
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $46,315
• Composite: 35.78/100
• National rank: #4842
• State rank: #99 of 178 in NC

Livability — Greensboro

• Score: 81/100
• State rank: #12
• US rank: #1335

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greensboro, NC
• County: Guilford County · 487,190 people
• City population: 329,421
• Metro: Greensboro-High Point, NC
• Population (ZIP): 51,697
• Household income: $59,427
• Rent vs Own: 51.4% rent · 48.6% own
• Severe rent burden: 2360.0

Population outlook (Guilford County) Hauer SSP2

• Today (2025): 584,596 people
• By 2030: 616,851 · +5.5%
• By 2040: 678,451 · +16.1%
• By 2050: 734,788 · +25.7%
• By 2075: 862,985 · +47.6%
• By 2100: 948,704 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 42% White 32% Asian 11% Hispanic / Latino 11% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Ukrainian 2% Slovak 1% Serbian 1%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 73% English-only · Spanish 9% Arabic 4% Vietnamese 4%

Political lean MEDSL · Guilford

• 2024 margin: Strong D (+21.8) · D 60.2% · R 38.4% · Other 1.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 18.4pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+23.1 2016: D+20.0 2012: D+16.5 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.48%
• Current HPI: 223.3145
• Rent YoY: ▲ 3.50%
• Metro: Greensboro-High Point, 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

+90.0% since first listed

10 events — show timeline

• 2026-03-22 Price Changed $209,900 Triad MLS
• 2026-02-25 Price Changed $210,900 Triad MLS
• 2025-12-02 Relisted — Triad MLS
• 2025-12-01 Delisted — Triad MLS
• 2025-09-26 Listed $219,500 Triad MLS
• 2016-09-21 Sold (Public Records) $101,000 Public Records
• 2016-09-21 Sold (MLS) $101,000 Triad MLS
• 2016-09-02 Pending — Triad MLS
• 2016-08-25 Listed $106,900 Triad MLS
• 2009-03-05 Sold (Public Records) $110,500 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,845 · -1.0% YoY. Source: county tax records.