102 Rhum Pl · Garner, NC 27529

$210,000

3 bd · 1.5 ba · 1,218 sqft · Townhouse public records · 16 Days on market

Built 1983 2,614 sqft lot Est $266k · 21% under $36/mo HOA · 2% 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).

• ARV discount +15.0/15.0
• Cash flow +12.9/30.0
• Schools +4.9/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This beautiful 3 bedroom, 1.5 bathroom townhome in Garner, NC is central to everything you need!

Key facts

• $36 HOA
• 2 parking spots
• Built 1983

Property features AI

Finance

• HOA & community: Kirkwall Villas community association; Monthly association fee of $36.62 (fee covers none listed services)

Exterior

• Parking: 2 parking spaces (not open parking)
• Utilities: Public water; Public sewer
• Home design: Townhouse with two levels; Entry on slab foundation
• Construction: Masonite exterior; Shingle roof; Slab foundation; Built as a townhouse
• Exterior features: Publicly maintained road access; Zoned MF-A

Interior

• Bedrooms: 3 bedrooms
• Flooring: Laminate; Tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (forced air); Central air conditioning
• Interior features: Laminate, tile and vinyl flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $210k.

Deal economics

• At list price, monthly cash flow is $-16 ($-186/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (17.3% below list).
• Recommended offer: $174k (17.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.3% in Garner — 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 76/100 on livability (#35 in NC, #3,421 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, cost of living A-; Watch: amenities D, 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: Timber Drive Elementary (math 42% / reading 42%, grade F, #633 of 1,410 statewide, top 48%, 416 students, 62% FRL); East Garner Middle (math 23% / reading 33%, grade F, #360 of 475 statewide, top 77%, 1,186 students, 73% FRL); Garner High (math 32% / reading 56%, grade F, #367 of 535 statewide, top 69%, 1,683 students, 50% FRL) — zoned schools average 62% FRL vs 30% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 56% district-wide (-18 pts) — the specific schools serving this property underperform the Wake County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.1%/yr); 652 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 16 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $80k; list at $210k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% 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 $173,610 (17.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.83% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.32%
• DSCR: 0.99
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $265,524
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Rhum Pl	0.04mi	2/1.5 (-1)	1,076 (-12%)	4mo	$221,000	$205	71
1442 Aversboro Rd Lot 7	0.14mi	2/2.0 (-1)	1,149 (-6%)	13mo	$250,000	$218	66

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 · 1.15% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.35×
• Total profit: $-38,203
• Equity at exit: $31,312

10-year hold

• IRR: -15.4%
• Equity multiple: 0.20×
• Total profit: $-47,138
• Equity at exit: $18,157

Cash invested: $58,800 (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 27529

• Rents YoY: 1.1%
• Active inventory: 652
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,736 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$162 /mo · $1,947/yr
• Insurance: −$88
• HOA: −$36
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-16

Break-even live

Break-even rent $1,756

Max offer price $207,261

Occupancy floor 96%

Sensitivity live

Price	-10% $103	-5% $44	+0% $-16	+5% $-75	+10% $-134
Rent	-10% $-153	-5% $-84	+0% $-16	+5% $53	+10% $122
Rate	-1.0pp $90	-0.5pp $38	base $-16	+0.5pp $-70	+1.0pp $-125

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1425 Aversboro Rd Garner, NC	2.0–3.0	2.0	1262	$1,900	$1.51	16d	2	0.20mi
725 Heather Park Dr Garner, NC	1.0–3.0	1.0–2.0	1012	$1,560	$1.54	3d	14	0.41mi
330 Kentucky Dr Garner, NC	2.0	2.0	851	$1,347	$1.58	25d	1	0.69mi
102 Stowe Pl Unit B Garner, NC	2.0	1.5	1008	$1,375	$1.36	6d	1	0.70mi
1105 Timber Dr Unit A Garner, NC	3.0	1.5	1200	$1,550	$1.29	6d	1	0.70mi
104 Stowe Pl Unit A Garner, NC	2.0	1.5	1100	$1,395	$1.27	25d	1	0.72mi
303 Kentucky Dr Garner, NC	2.0	2.0	870	$1,350	$1.55	25d	1	0.72mi
302 Kentucky Dr Garner, NC	2.0	2.0	870	$1,375	$1.58	23d	1	0.75mi
108 Barslund Ct Garner, NC	2.0	2.0	851	$1,347	$1.58	23d	1	0.80mi
108 Barslund Ct Garner, NC	2.0	2.0	851	$1,347	$1.58	25d	1	0.80mi
617 Springview Trl Garner, NC	3.0	2.5	1489	$2,180	$1.46	25d	1	0.98mi
400 Evolve Dr Garner, NC	1.0–3.0	1.0–2.0	990	$1,964	$1.98	3d	19	1.35mi
201 Johnson St Garner, NC	1.0–2.0	1.0–1.5	800	$1,250	$1.56	16d	2	1.44mi
2000 Spring Dr Garner, NC	1.0–2.0	1.0–1.5	850	$1,475	$1.74	25d	1	1.46mi

HOA detail

• Monthly dues: $36 · $432/yr

Listing history 10 events

1. 2026-05-08
   listed $210,000 Active
2. 2026-03-24
   historical
3. 2026-03-08
   price $219,999
4. 2026-02-05
   price $224,950
5. 2026-01-16
   price $224,999
6. 2026-01-04
   listed $225,000 Active
7. 1997-02-27
   soldstatus $80,000
8. 1992-08-14
   soldstatus $51,000
9. 1987-02-19
   soldstatus $14,500
10. 1983-09-09
    soldstatus $47,000

ⓘ 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: $1,947 · $162/mo
• Projected year-2 tax: $1,947 · $162/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $20,833
• − Mortgage interest: −$11,763
• − Property taxes: −$1,947
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − HOA: −$432
• − Depreciation: −$6,109
• Taxable loss: −$3,802
• Est. tax savings @ 24.0%: +$912
• After-tax cash flow: $726/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 — Garner

• Score: 76/100
• State rank: #35
• US rank: #3421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garner, NC
• County: Wake County · 1,216,256 people
• City population: 55,242
• Metro: Raleigh-Cary, NC
• Population (ZIP): 55,242
• Household income: $85,716
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 1455.0

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 0.61)
• Race & ethnicity: White 56% Black 25% Hispanic / Latino 13% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 87% English-only · Spanish 11% Other Indo-European 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: ▼ -241.30%
• Current HPI: 238.8492
• Rent YoY: ▲ 1.15%
• 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

+346.8% since first listed

10 events — show timeline

• 2026-05-08 Listed $210,000 TMLS
• 2026-03-24 Listing Removed — TMLS
• 2026-03-08 Price Changed $219,999 TMLS
• 2026-02-05 Price Changed $224,950 TMLS
• 2026-01-16 Price Changed $224,999 TMLS
• 2026-01-04 Listed $225,000 TMLS
• 1997-02-27 Sold (Public Records) $80,000 Public Records
• 1992-08-14 Sold (Public Records) $51,000 Public Records
• 1987-02-19 Sold (Public Records) $14,500 Public Records
• 1983-09-09 Sold (Public Records) $47,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,947 · +0.3% YoY. Source: county tax records.