5720 Walnut Grove Church Rd · Hillsborough, NC 27541

$337,000

2 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 39 Days on market

Built 2013 2.09 ac 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 +12.9/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Schools +3.5/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.7/10.0

Listing remarks MLS

Discover the charm of country living w/ this delightful ranch home set on a picturesque 2-acre lot. This property offers a serene retreat with ample space for relaxation & entertainment. The home offers 2 bed & 2 full bath, including a primary suite w/ a dual sink vanity & a walk-in shower. The open layout of the family room to kitchen enhances the home's sense of space. The kitchen is a standout feature, boasting generous cabinet space & great eat-in bar top. The home is bathed in beautiful natural light, enhancing its inviting atmosphere. Whether you're savoring a warm summer morning or enjoying cool fall evening, the sitting front porch is a delightful spot to unwind & soak in the peaceful surroundings. The spacious yard equipped with a patio for entertaining & a storage shed is ideal for hosting gatherings & enjoying the tranquility of nature. Conveniently close to town, w/ Hillsborough just 10 mins away & downtown Durham w/in a 25-minute drive, this home also has FIBER internet!

Key facts

• Covered front porch
• Primary suite
• 2 acre lot

Tags

• 2 ACRE LOT
• PRIMARY SUITE
• OPEN CONCEPT FAMILY ROOM
• ABUNDANT CABINET STORAGE
• LARGE EAT IN COUNTERTOP
• COVERED FRONT PORCH

Property features AI

Finance

• Other: Zoning: AR; Lot size: 2.09 acres; No pool
• HOA & community: No homeowners association

Exterior

• Parking: Driveway with 2 open parking spaces (2 total)
• Utilities: Well water; Septic system; Electricity connected; Water connected; Septic connected
• Home design: Modular home; One story; East-facing
• Construction: Vinyl siding; Composition roof; Brick/mortar and pillar/post/pier foundation; Built as modular construction
• Exterior features: Covered front porch; Patio; Cleared and partially wooded lot

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Luxury vinyl; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Bathtub/shower combination; Walk-in shower; Ceiling fan(s); Double pane windows
• Laundry & utility: Laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $337k.

Deal economics

• At list price, monthly cash flow is $-23 ($-278/yr) — negative.
• To cash-flow at today's rent, offer at most $333k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (22.0% below list).
• Recommended offer: $263k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.7% in Hillsborough — 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 (#14 in NC, #1,408 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime F.
• Orange County Schools (rural): math 35% / reading 44% proficiency, ranked #108 of 178 in NC (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hillsborough Elementary (math 58% / reading 68%, grade B, #168 of 1,410 statewide, top 12%, 425 students, 17% FRL); Orange Middle (math 38% / reading 49%, grade D, #182 of 475 statewide, top 40%, 525 students, 40% FRL); Orange High (math 63% / reading 58%, grade C+, #210 of 535 statewide, top 40%, 1,341 students, 41% FRL) — zoned schools at 33% FRL track the district average.
• Zoned-school proficiency averages 56% at this address vs 40% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Orange County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 23 active listings in the ZIP; 375 units permitted in Orange County in 2024 (34 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Orange County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($327k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $262,953 (22.0% 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 39 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.78% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.40×
• Total profit: $-56,186
• Equity at exit: $50,248

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-51,237
• Equity at exit: $29,138

Cash invested: $94,360 (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 27541

• Home prices YoY: -2.5%
• Active inventory: 23
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,630 medium
• Mortgage (P&I): −$1,767
• Tax from tax record: −$193 /mo · $2,314/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-23

Break-even live

Break-even rent $2,659

Max offer price $332,903

Occupancy floor 96%

Sensitivity live

Price	-10% $168	-5% $72	+0% $-23	+5% $-119	+10% $-214
Rent	-10% $-231	-5% $-127	+0% $-23	+5% $81	+10% $185
Rate	-1.0pp $147	-0.5pp $63	base $-23	+0.5pp $-111	+1.0pp $-199

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: $84,250
• Closing costs: $10,110
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-22
   days on market $337,000 Active 39 DOM
2. 2026-06-18
   days on market $337,000 Active 36 DOM
3. 2026-06-17
   days on market $337,000 Active 35 DOM
4. 2026-06-16
   days on market $337,000 Active 34 DOM
5. 2026-06-15
   days on market $337,000 Active 33 DOM
6. 2026-06-14
   days on market $337,000 Active 31 DOM
7. 2026-06-13
   days on market $337,000 Active 30 DOM
8. 2026-06-10
   days on market $337,000 Active 28 DOM
9. 2026-06-09
   days on market $337,000 Active 27 DOM
10. 2026-06-08
    days on market $337,000 Active 26 DOM
11. 2026-06-07
    pricedays on market $337,000 Active 25 DOM
12. 2026-06-03
    days on market $340,000 Active 21 DOM
13. 2026-06-02
    days on market $340,000 Active 20 DOM
14. 2026-06-01
    days on market $340,000 Active 19 DOM
15. 2026-05-31
    days on market $340,000 Active 18 DOM
16. 2026-05-30
    days on market $340,000 Active 17 DOM
17. 2026-05-13
    listed $340,000 Active
18. 2026-04-28
    soldstatus $335,000
19. 2024-11-13
    soldstatus $315,000 Closed 1030-char remark

    Show marketing remark (1251 chars)

    Discover the charm of country living with this delightful ranch home set on a picturesque 2-acre lot. This property offers a serene retreat with ample space for relaxation & entertainment. The home offers 2 bed & 2 full bath, including a primary suite with a dual sink vanity & a walk-in shower. The open layout of the family room to kitchen enhances the home's sense of space, creating a warm & inviting area that encourages both relaxation & togetherness. The kitchen is a standout feature, boasting generous cabinet space & a great eat-in bar top perfect for gatherings. The home is bathed in beautiful natural light, enhancing its inviting atmosphere. Whether you're savoring a warm summer morning or enjoying a cool fall evening, the sitting front porch is a delightful spot to unwind & soak in the peaceful surroundings. The spacious yard equipped with a patio for entertaining and a storage shed is ideal for hosting gatherings & enjoying the tranquility of nature. Conveniently close to town, with Hillsborough just 10 minutes away and downtown Durham within a 25-minute drive, this home also has FIBER internet! The welcoming community and peaceful setting make it a perfect place to call home.

20. 2024-11-13
    soldstatus $315,000 Sold 1251-char remark

    Show marketing remark (1251 chars)

    Discover the charm of country living with this delightful ranch home set on a picturesque 2-acre lot. This property offers a serene retreat with ample space for relaxation & entertainment. The home offers 2 bed & 2 full bath, including a primary suite with a dual sink vanity & a walk-in shower. The open layout of the family room to kitchen enhances the home's sense of space, creating a warm & inviting area that encourages both relaxation & togetherness. The kitchen is a standout feature, boasting generous cabinet space & a great eat-in bar top perfect for gatherings. The home is bathed in beautiful natural light, enhancing its inviting atmosphere. Whether you're savoring a warm summer morning or enjoying a cool fall evening, the sitting front porch is a delightful spot to unwind & soak in the peaceful surroundings. The spacious yard equipped with a patio for entertaining and a storage shed is ideal for hosting gatherings & enjoying the tranquility of nature. Conveniently close to town, with Hillsborough just 10 minutes away and downtown Durham within a 25-minute drive, this home also has FIBER internet! The welcoming community and peaceful setting make it a perfect place to call home.

21. 2024-09-17
    status Pending 1030-char remark

    Show marketing remark (1251 chars)

    Discover the charm of country living with this delightful ranch home set on a picturesque 2-acre lot. This property offers a serene retreat with ample space for relaxation & entertainment. The home offers 2 bed & 2 full bath, including a primary suite with a dual sink vanity & a walk-in shower. The open layout of the family room to kitchen enhances the home's sense of space, creating a warm & inviting area that encourages both relaxation & togetherness. The kitchen is a standout feature, boasting generous cabinet space & a great eat-in bar top perfect for gatherings. The home is bathed in beautiful natural light, enhancing its inviting atmosphere. Whether you're savoring a warm summer morning or enjoying a cool fall evening, the sitting front porch is a delightful spot to unwind & soak in the peaceful surroundings. The spacious yard equipped with a patio for entertaining and a storage shed is ideal for hosting gatherings & enjoying the tranquility of nature. Conveniently close to town, with Hillsborough just 10 minutes away and downtown Durham within a 25-minute drive, this home also has FIBER internet! The welcoming community and peaceful setting make it a perfect place to call home.

22. 2024-09-17
    status Pending 1251-char remark

    Show marketing remark (1251 chars)

    Discover the charm of country living with this delightful ranch home set on a picturesque 2-acre lot. This property offers a serene retreat with ample space for relaxation & entertainment. The home offers 2 bed & 2 full bath, including a primary suite with a dual sink vanity & a walk-in shower. The open layout of the family room to kitchen enhances the home's sense of space, creating a warm & inviting area that encourages both relaxation & togetherness. The kitchen is a standout feature, boasting generous cabinet space & a great eat-in bar top perfect for gatherings. The home is bathed in beautiful natural light, enhancing its inviting atmosphere. Whether you're savoring a warm summer morning or enjoying a cool fall evening, the sitting front porch is a delightful spot to unwind & soak in the peaceful surroundings. The spacious yard equipped with a patio for entertaining and a storage shed is ideal for hosting gatherings & enjoying the tranquility of nature. Conveniently close to town, with Hillsborough just 10 minutes away and downtown Durham within a 25-minute drive, this home also has FIBER internet! The welcoming community and peaceful setting make it a perfect place to call home.

23. 2024-08-30
    listed $325,000 Active 1030-char remark

    Show marketing remark (1251 chars)

    Discover the charm of country living with this delightful ranch home set on a picturesque 2-acre lot. This property offers a serene retreat with ample space for relaxation & entertainment. The home offers 2 bed & 2 full bath, including a primary suite with a dual sink vanity & a walk-in shower. The open layout of the family room to kitchen enhances the home's sense of space, creating a warm & inviting area that encourages both relaxation & togetherness. The kitchen is a standout feature, boasting generous cabinet space & a great eat-in bar top perfect for gatherings. The home is bathed in beautiful natural light, enhancing its inviting atmosphere. Whether you're savoring a warm summer morning or enjoying a cool fall evening, the sitting front porch is a delightful spot to unwind & soak in the peaceful surroundings. The spacious yard equipped with a patio for entertaining and a storage shed is ideal for hosting gatherings & enjoying the tranquility of nature. Conveniently close to town, with Hillsborough just 10 minutes away and downtown Durham within a 25-minute drive, this home also has FIBER internet! The welcoming community and peaceful setting make it a perfect place to call home.

24. 2024-08-30
    listed $325,000 Active 1251-char remark

    Show marketing remark (1251 chars)

    Discover the charm of country living with this delightful ranch home set on a picturesque 2-acre lot. This property offers a serene retreat with ample space for relaxation & entertainment. The home offers 2 bed & 2 full bath, including a primary suite with a dual sink vanity & a walk-in shower. The open layout of the family room to kitchen enhances the home's sense of space, creating a warm & inviting area that encourages both relaxation & togetherness. The kitchen is a standout feature, boasting generous cabinet space & a great eat-in bar top perfect for gatherings. The home is bathed in beautiful natural light, enhancing its inviting atmosphere. Whether you're savoring a warm summer morning or enjoying a cool fall evening, the sitting front porch is a delightful spot to unwind & soak in the peaceful surroundings. The spacious yard equipped with a patio for entertaining and a storage shed is ideal for hosting gatherings & enjoying the tranquility of nature. Conveniently close to town, with Hillsborough just 10 minutes away and downtown Durham within a 25-minute drive, this home also has FIBER internet! The welcoming community and peaceful setting make it a perfect place to call home.

25. 2023-09-21
    soldstatus $305,000
26. 2023-09-20
    soldstatus $305,000 Closed
27. 2023-08-22
    historical Contingent
28. 2023-08-21
    price $315,000
29. 2023-08-11
    listed $325,000 Active
30. 2013-01-04
    soldstatus $32,000

ⓘ 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: $2,314 · $193/mo
• Projected year-2 tax: $2,763 · $230/mo
• Expected delta: +$449/yr (+$37/mo · 19.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $31,554
• − Mortgage interest: −$18,877
• − Property taxes: −$2,314
• − Insurance: −$1,685
• − Repairs & maintenance: −$2,524
• − Management: −$2,524
• − Depreciation: −$9,804
• Taxable loss: −$6,174
• Est. tax savings @ 24.0%: +$1,482
• After-tax cash flow: $1,204/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: Orange County Schools
• NCES district ID: 3703480
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $57,908
• Composite: 34.8/100
• National rank: #5109
• State rank: #108 of 178 in NC

Livability — Hillsborough

• Score: 81/100
• State rank: #14
• US rank: #1408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 27,925
• Population (ZIP): 3,862

Population outlook (Orange County) Hauer SSP2

• Today (2025): 158,781 people
• By 2030: 168,367 · +6.0%
• By 2040: 186,192 · +17.3%
• By 2050: 203,801 · +28.4%
• By 2075: 249,160 · +56.9%
• By 2100: 285,614 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 12% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Slovak 2% Serbian 1% English 1%
• Foreign-born: 7% · Canada, Jamaica, China
• Languages at home: 93% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Orange

• 2024 margin: Solid D (+51.1) · D 74.9% · R 23.8% · Other 1.4%
• 2008→2024 swing: +6.3pp toward D · 2008: 44.8pp · 2024: 51.1pp
• All cycles: 2024: D+51.1 2020: D+51.1 2016: D+51.0 2012: D+42.2 2008: D+44.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.62%
• Current HPI: 253.3751
• Rent YoY: —
• Metro: —
• 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

+962.5% since first listed

14 events — show timeline

• 2026-05-13 Listed $340,000 TMLS
• 2026-04-28 Sold (Public Records) $335,000 Public Records
• 2024-11-13 Sold (MLS) $315,000 TMLS
• 2024-11-13 Sold (MLS) $315,000 Triad MLS
• 2024-09-17 Pending — Triad MLS
• 2024-09-17 Pending — TMLS
• 2024-08-30 Listed $325,000 TMLS
• 2024-08-30 Listed $325,000 Triad MLS
• 2023-09-21 Sold (Public Records) $305,000 Public Records
• 2023-09-20 Sold (MLS) $305,000 TMLS
• 2023-08-22 Contingent — TMLS
• 2023-08-21 Price Changed $315,000 TMLS
• 2023-08-11 Listed $325,000 TMLS
• 2013-01-04 Sold (Public Records) $32,000 Public Records

Property tax history

+14.0%/yr

Latest (2025): $2,314 · +25.4% YoY. Source: county tax records.