1302 Hillsboro St · Pittsboro, NC 27312

$165,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 39 Days on market

Built 1961 0.66 ac lot

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic opportunity! Own close to Downtown Pittsboro and Chatham Park. Nearly 3/4 acre lot in prime location. Opportunity to partner with Custom Builder

Key facts

• 0.66 acre lot
• Built 1961
• Listed 39 days

Property features AI

Finance

• Other: Living area listed as 864; Above-grade finished area 864; Below-grade finished area 0; Tax annual amount listed (financial details retained by listing)
• HOA & community: No homeowners association; Not a senior community

Exterior

• Utilities: Water source: see remarks; Sewer: other
• Home design: One-story house
• Construction: Vinyl siding; Block foundation (also lists none / see remarks); Roof details: see remarks; Built as a house (structure type)
• Exterior features: Lot approximately 0.66 acres; Publicly maintained road access; Directions available

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: See remarks
• Bathrooms: One full bathroom
• Heating & cooling: Heating present (type listed as other / see remarks); No central cooling
• Interior features: Flooring: see remarks

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 1.9% in Pittsboro — 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 69/100 on livability (#153 in NC) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: amenities F, commute F, employment F.
• Chatham County Schools (rural): math 45% / reading 51% proficiency, ranked #68 of 178 in NC (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northwood High (math 61% / reading 75%, grade B, #137 of 535 statewide, top 26%, 940 students, 29% FRL) — zoned schools average 29% FRL vs 45% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 68% at this address vs 48% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Chatham County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 511 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 458 units permitted in Chatham 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.
• Chatham 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 39 days — a 3% lower offer ($160k) 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 $65k; list at $165k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 27% 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 $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.40%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.35% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-5,494
• Equity at exit: $24,602

10-year hold

• IRR: 3.3%
• Equity multiple: 1.21×
• Total profit: $9,742
• Equity at exit: $14,266

Cash invested: $46,200 (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 27312

• Home prices YoY: -20.3%
• Rents YoY: 0.3%
• Active inventory: 511
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,895 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$86 /mo · $1,026/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $411

Break-even live

Break-even rent $1,375

Max offer price $165,000

Occupancy floor 73%

Sensitivity live

Price	-10% $504	-5% $458	+0% $411	+5% $364	+10% $317
Rent	-10% $261	-5% $336	+0% $411	+5% $486	+10% $561
Rate	-1.0pp $494	-0.5pp $453	base $411	+0.5pp $368	+1.0pp $325

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Retreat Dr Pittsboro, NC	1.0–3.0	1.0–2.0	1091	$2,020	$1.85	2d	36	0.81mi
80 Haven Creek Rd Pittsboro, NC	1.0–3.0	1.0–2.0	995	$2,175	$2.19	24d	9	1.03mi
25 Creekside Cir Pittsboro, NC	1.0–2.0	1.0	808	$1,295	$1.60	3d	4	1.18mi
120 Rectory St Unit 63 Pittsboro, NC	2.0	1.0	896	$1,195	$1.33	22d	1	1.23mi

Listing history 8 events

1. 2026-06-03
   statusdays on market $165,000 Pending 39 DOM
2. 2026-06-02
   days on market $165,000 Active 38 DOM
3. 2026-06-01
   days on market $165,000 Active 37 DOM
4. 2026-05-31
   days on market $165,000 Active 36 DOM
5. 2026-05-05
   status Active
6. 2026-04-18
   status Pending
7. 2026-04-08
   listed $165,000 Active
8. 2024-09-12
   soldstatus $65,000

ⓘ 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: $1,026 · $86/mo
• Projected year-2 tax: $1,353 · $113/mo
• Expected delta: +$327/yr (+$27/mo · 31.8%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $22,738
• − Mortgage interest: −$9,243
• − Property taxes: −$1,026
• − Insurance: −$1,622
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$4,800
• Taxable income: $2,408
• Est. tax owed @ 24.0%: −$578
• After-tax cash flow: $4,353/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: Chatham County Schools
• NCES district ID: 3700750
• Math proficiency: 45% ▼ -1.00%
• Reading proficiency: 51% ▲ 1.00%
• Median HH income: $57,371
• Composite: 41.82/100
• National rank: #3390
• State rank: #68 of 178 in NC

Livability — Pittsboro

• Score: 69/100
• State rank: #153
• US rank: #8450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsboro, NC
• County: Chatham County · 23,341 people
• City population: 23,341
• Metro: Durham-Chapel Hill, NC
• Population (ZIP): 23,341
• Household income: $103,104
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 484.0

Population outlook (Chatham County) Hauer SSP2

• Today (2025): 84,640 people
• By 2030: 90,521 · +6.9%
• By 2040: 99,791 · +17.9%
• By 2050: 106,565 · +25.9%
• By 2075: 119,165 · +40.8%
• By 2100: 122,958 · +45.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 10% Hispanic / Latino 8% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 3% Cuban 1%
• Common ancestry: Italian 4% Slovak 4% Romanian 3%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Chatham

• 2024 margin: D (+12.5) · D 55.7% · R 43.2% · Other 1.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 9.7pp · 2024: 12.5pp
• All cycles: 2024: D+12.5 2020: D+11.5 2016: D+10.1 2012: D+4.8 2008: D+9.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.26%
• Current HPI: 255.9179
• Rent YoY: ▲ 0.35%
• Metro: Durham-Chapel Hill, 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

+153.8% since first listed

4 events — show timeline

• 2026-05-05 Relisted — TMLS
• 2026-04-18 Pending — TMLS
• 2026-04-08 Listed $165,000 TMLS
• 2024-09-12 Sold (Public Records) $65,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,026 · -15.1% YoY. Source: county tax records.