1113 Mark St · Raleigh, NC 27601

$196,000

1 bd · 1.0 ba · 1,182 sqft · SingleFamily public records · 17 Days on market

Built 1920 4,792 sqft lot

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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 +12.6/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.5/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor's Dream Opportunity in the Growing Raleigh Market! Unlock the potential of this prime investment property located within the rapidly expanding city limits of Raleigh, NC. Whether you're looking to renovate, rent, or redevelop, this property offers endless possibilities for savvy investors. What makes this opportunity truly unique is the potential for assemblage this property can be combined with additional neighboring properties owned by the seller, creating a rare chance to secure a larger footprint in one of Raleigh's most sought after growth corridors. Surrounded by ongoing development, increasing property values, and strong demand, this location positions you for both immedi

Key facts

• Investment property
• 4,792 sq ft lot
• Built 1920

Tags

• INVESTMENT PROPERTY
• POTENTIAL FOR ASSEMBLAGE

Property features AI

Finance

• Other: Lot about 0.11 acres; Zoned R-10; Located in Wake County
• HOA & community: No homeowners association

Exterior

• Utilities: Public water; Public sewer
• Home design: One-level property; Structure type: Other; Property condition: Fixer
• Construction: Aluminum siding; Built with other/unspecified materials
• Exterior features: Shingle roof; Other foundation

Interior

• Bedrooms: 1 bedroom (main level)
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating present (type: Other); Cooling present (multi units)
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $196k.

Deal economics

• At list price, monthly cash flow is $-25 ($-294/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (15.3% below list).
• Recommended offer: $166k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.7% in Raleigh — 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 83/100 on livability (#10 in NC, #1,028 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Joyner Elementary (math 57% / reading 68%, grade B, #174 of 1,410 statewide, top 13%, 523 students, 28% FRL); Moore Square Middle (math 59% / reading 69%, grade B+, #33 of 475 statewide, top 7%, 585 students, 24% FRL); Needham Broughton High (math 29% / reading 67%, grade D, #329 of 535 statewide, top 62%, 2,128 students, 30% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents flat; 141 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 15,249 units permitted in Wake County in 2024 (5,568 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 $6k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $196k implies a 880% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,970 (15.3% 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. Built in 1920 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.54%
• DSCR: 0.98
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $819,126
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1601 Green St	0.71mi	2/1.0 (+1)	1,226 (+4%)	20mo	$850,000	$693	39

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 · 0.47% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.32×
• Total profit: $-37,431
• Equity at exit: $29,224

10-year hold

• IRR: -19.5%
• Equity multiple: 0.08×
• Total profit: $-50,626
• Equity at exit: $16,946

Cash invested: $54,880 (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 27601

• Rents YoY: 0.5%
• Active inventory: 141
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,660 high
• Mortgage (P&I): −$1,028
• Tax from tax record: −$226 /mo · $2,714/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-25

Break-even live

Break-even rent $1,691

Max offer price $191,665

Occupancy floor 96%

Sensitivity live

Price	-10% $86	-5% $31	+0% $-25	+5% $-80	+10% $-135
Rent	-10% $-156	-5% $-90	+0% $-25	+5% $41	+10% $107
Rate	-1.0pp $74	-0.5pp $25	base $-25	+0.5pp $-75	+1.0pp $-127

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: $49,000
• Closing costs: $5,880
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1256 McCauley St Raleigh, NC	1.0–2.0	1.0–2.0	991	$1,100	$1.11	25d	1	0.17mi
121 Kindley St Raleigh, NC	2.0	1.0–2.0	958	$2,377	$2.48	3d	70	0.37mi
715 Ellington St #102 Raleigh, NC	2.0	1.5	820	$1,250	$1.52	5d	1	0.41mi
704 McMakin St Unit C Raleigh, NC	2.0	1.0	829	$1,197	$1.44	25d	1	0.51mi
704 McMakin St Unit D Raleigh, NC	2.0	1.0	829	$1,147	$1.38	21d	1	0.51mi
704 McMakin St Raleigh, NC	2.0	1.0	829	$1,147	$1.38	22d	1	0.51mi
704 McMakin St Unit D Raleigh, NC	2.0	1.0	829	$1,147	$1.38	25d	1	0.51mi
511 Fayetteville St Raleigh, NC	2.0	1.0–2.0	908	$2,184	$2.40	3d	55	0.52mi
602 Bragg St Raleigh, NC	2.0	1.0	864	$1,150	$1.33	5d	1	0.55mi
508 S Person St #303 Raleigh, NC	2.0	2.5	1150	$1,245	$1.08	25d	1	0.56mi
804 McMakin St Raleigh, NC	2.0–3.0	1.0	1100	$1,099	$1.00	5d	5	0.59mi
422 S Person St Raleigh, NC	2.0	1.0–2.0	791	$1,737	$2.20	4d	19	0.60mi
319 W Lenoir St Raleigh, NC	3.0	1.0–2.0	1260	$3,129	$2.48	5d	140	0.60mi
1021 S Saunders St Raleigh, NC	3.0	1.0–2.0	1126	$1,788	$1.59	3d	44	0.62mi
252 E Davie St Unit 1 Raleigh, NC	2.0	2.0	1157	$2,100	$1.82	25d	1	0.64mi
444 S Blount St Raleigh, NC	1.0–2.0	1.5–2.5	1208	$1,750	$1.45	13d	4	0.65mi
131 E Davie St Raleigh, NC	2.0	1.0–2.5	1108	$1,980	$1.79	3d	16	0.66mi
205 W Davie St Raleigh, NC	2.0	1.0–2.0	804	$1,612	$2.01	3d	6	0.69mi
1020 Hammell Dr Raleigh, NC	3.0	1.0–2.5	1095	$3,506	$3.20	5d	98	0.69mi
2421 Bright Creek Falls Trail Raleigh, NC	3.0	1.0–2.0	991	$1,414	$1.43	3d	38	0.70mi
308 S Blount St Raleigh, NC	3.0	1.0–3.0	1047	$1,772	$1.69	3d	20	0.74mi
1000 Hammell Dr Raleigh, NC	3.0	1.0–2.0	958	$2,781	$2.90	4d	279	0.75mi
909 Bragg St Raleigh, NC	1.0	1.0	1300	$520	$0.40	22d	1	0.79mi
510 W Cabarrus St Raleigh, NC	3.0	1.0–2.0	1059	$2,095	$1.98	5d	229	0.80mi
408 E Hargett St Raleigh, NC	2.0	1.0–2.0	972	$1,765	$1.81	3d	18	0.84mi
734 E Lenoir St Unit 600 Raleigh, NC	2.0	1.0	900	$1,595	$1.77	14d	1	0.84mi
224 S Dawson St Raleigh, NC	2.0	2.0	1420	$2,400	$1.69	18d	1	0.85mi
600 W Cabarrus St Raleigh, NC	3.0	1.0–2.0	1017	$2,010	$1.98	3d	57	0.85mi
401 W Hargett St Raleigh, NC	3.0	1.0–2.0	870	$2,231	$2.56	4d	22	0.93mi
300 W Hargett St Raleigh, NC	2.0	1.0–2.0	995	$1,850	$1.86	3d	10	0.94mi
801 Vardaman St Raleigh, NC	2.0	1.0	824	$1,210	$1.47	25d	1	1.06mi
717 Vardaman St Raleigh, NC	2.0	1.0	824	$1,225	$1.49	25d	1	1.07mi
537 New Bern Ave Raleigh, NC	1.0	1.0	1496	$1,225	$0.82	25d	1	1.08mi
9 N Harrington St Raleigh, NC	1.0–2.0	1.0–2.0	1014	$1,829	$1.80	4d	15	1.11mi
2421 Renfrow Rd Raleigh, NC	2.0	1.0	750	$1,195	$1.59	5d	1	1.14mi
705 W Morgan St Apt 4 Raleigh, NC	1.0	1.0	720	$1,350	$1.88	25d	1	1.16mi
702 Parkham Ln Raleigh, NC	2.0	2.0	1360	$2,365	$1.74	18d	1	1.17mi
133 S Tarboro St Raleigh, NC	2.0	2.0	1150	$1,495	$1.30	25d	1	1.21mi
211 Hammond Center Dr Raleigh, NC	2.0	1.0–2.0	880	$1,795	$2.04	4d	33	1.23mi
804 W Morgan St Raleigh, NC	1.0–2.0	1.0	775	$1,185	$1.53	25d	15	1.25mi

Listing history 12 events

1. 2026-06-21
   days on market $196,000 Active 17 DOM
2. 2026-06-18
   days on market $196,000 Active 14 DOM
3. 2026-06-17
   days on market $196,000 Active 13 DOM
4. 2026-06-16
   days on market $196,000 Active 12 DOM
5. 2026-06-15
   days on market $196,000 Active 11 DOM
6. 2026-06-13
   days on market $196,000 Active 9 DOM
7. 2026-06-13
   days on market $196,000 Active 8 DOM
8. 2026-06-09
   days on market $196,000 Active 5 DOM
9. 2026-06-08
   days on market $196,000 Active 4 DOM
10. 2026-06-07
    days on market $196,000 Active 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $196,000 Active 1 DOM

ⓘ 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: $2,714 · $226/mo
• Projected year-2 tax: $2,714 · $226/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 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% 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: $19,916
• − Mortgage interest: −$10,979
• − Property taxes: −$2,714
• − Insurance: −$980
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$5,702
• Taxable loss: −$3,645
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $580/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: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Raleigh

• Score: 83/100
• State rank: #10
• US rank: #1028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raleigh, NC
• County: Wake County · 1,216,256 people
• City population: 569,344
• Metro: Raleigh-Cary, NC
• Population (ZIP): 9,905
• Household income: $71,350
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 948.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Black 35% Two or more races 11% Hispanic / Latino 10% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 7% Other Indo-European 3% French/Haitian/Cajun 1%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -301.25%
• Current HPI: 345.43
• Rent YoY: ▲ 0.47%
• Metro: Raleigh-Cary, 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

+880.0% since first listed

3 events — show timeline

• 2026-06-04 Listed $196,000 TMLS
• 1991-05-31 Sold (Public Records) $20,000 Public Records
• 1991-03-15 Sold (Public Records) $20,000 Public Records

Property tax history

+13.1%/yr

Latest (2025): $2,714 · +0.4% YoY. Source: county tax records.