515 Redd St · Reidsville, NC 27320

$175,000

4 bd · 1.0 ba · 2,582 sqft · SingleFamily public records · 1 Days on market

Built 1939 Est $310k · 44% 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Schools +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

HOUSE SOLD AS IS. GREAT INVESTOR HOME, OR SOMEONE LOOKING FOR A BEAUTIFUL OLER BRICK HOME TO RESTORE TO THEIR LIKING. HOUSE CURRENTLY HAS RADIATOR HEAT, WINDOW AC& apos; S. BEAUTIFULE HOME JUST NEEDS SOME TLC TO BRING IT BACK TO LIFE. ALSO, HAVE ANOTHER HOME THAT COULD BE ARRANGED AS PACKAGE DEAL FOR AN INVESTOR.

Key facts

• Built 1939

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 8.3% vs local median 3.8% in Reidsville — 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 59/100 on livability (#553 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D-, crime F, amenities F.
• Rockingham County Schools (rural): math 38% / reading 40% proficiency, ranked #120 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 251 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 344 units permitted in Rockingham County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Rockingham County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $40k; list at $175k implies a 338% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.18%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $309,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
710 S Main St	0.19mi	3/2.0 (-1)	2,656 (+3%)	2mo	$319,900	$120	76
319 Maple Ave	0.61mi	4/2.5	2,560 (-1%)	4mo	$298,000	$116	61
1301 Richardson Dr	0.40mi	4/3.0	2,470 (-4%)	12mo	$337,500	$137	57
1320 South Park Dr	0.41mi	3/2.0 (-1)	2,427 (-6%)	8mo	$249,000	$103	55
419 Piedmont St	0.49mi	4/2.0	2,629 (+2%)	18mo	$240,000	$91	55
825 Crescent Dr	0.39mi	4/3.5	2,469 (-4%)	12mo	$105,000	$43	54
1323 Pennrose Dr	0.43mi	4/2.0	2,346 (-9%)	16mo	$367,000	$156	47
1400 Pennrose Dr	0.45mi	3/2.0 (-1)	2,249 (-13%)	11mo	$335,000	$149	39
309 Maple Ave	0.65mi	3/3.0 (-1)	2,793 (+8%)	12mo	$57,000	$20	33
1841 Pennrose Dr	0.74mi	3/2.0 (-1)	2,301 (-11%)	10mo	$425,000	$185	30
1401 Courtland Ave	0.66mi	3/3.0 (-1)	2,848 (+10%)	12mo	$350,000	$123	29
501 Lindsey St	0.71mi	4/3.5	2,948 (+14%)	16mo	$230,000	$78	20

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-9,697
• Equity at exit: $26,093

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $15,522
• Equity at exit: $15,131

Cash invested: $49,000 (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 27320

• Home prices YoY: -30.8%
• Active inventory: 251
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$138 /mo · $1,656/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $293

Break-even live

Break-even rent $1,429

Max offer price $175,000

Occupancy floor 79%

Sensitivity live

Price	-10% $392	-5% $343	+0% $293	+5% $244	+10% $194
Rent	-10% $151	-5% $222	+0% $293	+5% $364	+10% $436
Rate	-1.0pp $381	-0.5pp $338	base $293	+0.5pp $248	+1.0pp $202

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2012 Richardson Dr Reidsville, NC	3.0	2.0	2272	$1,800	$0.79	15d	1	1.35mi

Listing history 1 events

1. 2006-08-28
   soldstatus $40,000

ⓘ 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: $1,656 · $138/mo
• Projected year-2 tax: $1,656 · $138/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 6/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$9,803
• − Property taxes: −$1,656
• − Insurance: −$875
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$5,091
• Taxable income: $719
• Est. tax owed @ 24.0%: −$173
• After-tax cash flow: $3,347/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: Rockingham County Schools
• NCES district ID: 3703990
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $38,914
• Composite: 32.6/100
• National rank: #5673
• State rank: #120 of 178 in NC

Livability — Reidsville

• Score: 59/100
• State rank: #553
• US rank: #20359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reidsville, NC
• City population: 38,610
• Population (ZIP): 38,610

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 87,103 people
• By 2030: 83,763 · -3.8%
• By 2040: 76,082 · -12.7%
• By 2050: 68,106 · -21.8%
• By 2075: 52,531 · -39.7%
• By 2100: 39,871 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 23% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Rockingham

• 2024 margin: Solid R (+35.9) · D 31.7% · R 67.6%
• 2008→2024 swing: -19.9pp toward R · 2008: -16.0pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+32.0 2016: R+30.0 2012: R+21.3 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.42%
• Current HPI: 205.028
• 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

1 event — show timeline

• 2006-08-28 Sold (Public Records) $40,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,656 · +0.0% YoY. Source: county tax records.