149 Creekstone Ct · Lexington, NC 27295

$275,000

3 bd · 2.0 ba · 1,508 sqft · SingleFamily public records · 14 Days on market

Built 2019 9,147 sqft lot Est $274k · at est. $15/mo HOA · 1% 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).

• Cash flow +12.1/30.0
• ARV discount +7.4/15.0
• Schools +4.3/10.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 149 Creekstone Court, a move-in-ready 3-bedroom, 2-bath home, built in 2019, offering comfortable one-level living in a quiet Lexington neighborhood. This home would qualify for USDA 100% financing meaning no down payment if you qualify! With over 1,500 square feet, this home provides a spacious and functional layout designed for everyday living. Inside, you'll find a bright and inviting interior that has been well maintained and cared for, making it easy for the next owners to move right in. The single-story design offers a natural flow between living spaces while the bedrooms provide comfortable retreats with plenty of room to spread out. Step outside to enjoy one of the home's standout features — a fully fenced backyard offering complete privacy, perfect for pets, entertaining, or relaxing evenings at home. The covered back porch with pergola creates a welcoming outdoor space ideal for grilling, gathering with friends, or simply unwinding at the end of the day. If you're searching for a well-kept, move-in-ready home with a private backyard and great outdoor living space, 149 Creekstone Court is a must-see.

Key facts

• Covered back porch
• 9,147 sq ft lot
• Garage

Tags

• FULLY FENCED BACKYARD
• COVERED BACK PORCH
• WELCOMING OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-61 ($-735/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (26.7% below list).
• Recommended offer: $202k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.5% in Lexington — 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 72/100 on livability (#89 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D, crime F, amenities D-.
• Davidson County Schools (rural): math 50% / reading 50% proficiency, ranked #62 of 178 in NC (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.4%/yr); 351 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 990 units permitted in Davidson County in 2024 (54 in 5+ unit buildings).
• This rent runs 38% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Davidson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,671 (26.7% 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: 0.73% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.95%
• DSCR: 0.96
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $274,456
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
149 Creekstone Ct	0.00mi	3/2.0	1,508 (0%)	1mo	$275,000	$182	99
145 Naples Rd	0.18mi	3/2.0	1,583 (+5%)	14mo	$288,000	$182	71
199 Stonewall Ln	0.07mi	3/2.5	1,437 (-5%)	20mo	$250,000	$174	70
149 Tuscan Way	0.17mi	3/2.0	1,330 (-12%)	9mo	$255,000	$192	65
1023 Rockway Dr	0.14mi	3/2.0	1,335 (-12%)	24mo	$254,000	$190	54

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-47,831
• Equity at exit: $41,003

10-year hold

• IRR: -9.1%
• Equity multiple: 0.43×
• Total profit: $-44,051
• Equity at exit: $23,777

Cash invested: $77,000 (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 27295

• Home prices YoY: -15.2%
• Rents YoY: 3.4%
• Active inventory: 351
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,017 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$83 /mo · $993/yr
• Insurance: −$115
• HOA: −$15
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-61

Break-even live

Break-even rent $2,094

Max offer price $264,176

Occupancy floor 98%

Sensitivity live

Price	-10% $94	-5% $17	+0% $-61	+5% $-139	+10% $-217
Rent	-10% $-221	-5% $-141	+0% $-61	+5% $18	+10% $98
Rate	-1.0pp $77	-0.5pp $9	base $-61	+0.5pp $-133	+1.0pp $-205

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Crane Creek Way Lexington, NC	3.0	2.5	1588	$1,650	$1.04	24d	1	0.90mi
152 Iroquois Trl Lexington, NC	3.0	2.5	1828	$2,010	$1.10	14d	1	1.15mi

HOA detail

• Monthly dues: $15 · $180/yr

Listing history 7 events

1. 2026-05-20
   soldstatus $275,000 Closed 1154-char remark

   Show marketing remark (1154 chars)

   Welcome to 149 Creekstone Court, a move-in-ready 3-bedroom, 2-bath home, built in 2019, offering comfortable one-level living in a quiet Lexington neighborhood. This home would qualify for USDA 100% financing meaning no down payment if you qualify! With over 1,500 square feet, this home provides a spacious and functional layout designed for everyday living. Inside, you'll find a bright and inviting interior that has been well maintained and cared for, making it easy for the next owners to move right in. The single-story design offers a natural flow between living spaces while the bedrooms provide comfortable retreats with plenty of room to spread out. Step outside to enjoy one of the home's standout features — a fully fenced backyard offering complete privacy, perfect for pets, entertaining, or relaxing evenings at home. The covered back porch with pergola creates a welcoming outdoor space ideal for grilling, gathering with friends, or simply unwinding at the end of the day. If you're searching for a well-kept, move-in-ready home with a private backyard and great outdoor living space, 149 Creekstone Court is a must-see.

2. 2026-04-27
   status Pending

   Show marketing remark (1154 chars)

   Welcome to 149 Creekstone Court, a move-in-ready 3-bedroom, 2-bath home, built in 2019, offering comfortable one-level living in a quiet Lexington neighborhood. This home would qualify for USDA 100% financing meaning no down payment if you qualify! With over 1,500 square feet, this home provides a spacious and functional layout designed for everyday living. Inside, you'll find a bright and inviting interior that has been well maintained and cared for, making it easy for the next owners to move right in. The single-story design offers a natural flow between living spaces while the bedrooms provide comfortable retreats with plenty of room to spread out. Step outside to enjoy one of the home's standout features — a fully fenced backyard offering complete privacy, perfect for pets, entertaining, or relaxing evenings at home. The covered back porch with pergola creates a welcoming outdoor space ideal for grilling, gathering with friends, or simply unwinding at the end of the day. If you're searching for a well-kept, move-in-ready home with a private backyard and great outdoor living space, 149 Creekstone Court is a must-see.

3. 2026-04-27
   status Pending 1154-char remark

   Show marketing remark (1154 chars)

   Welcome to 149 Creekstone Court, a move-in-ready 3-bedroom, 2-bath home, built in 2019, offering comfortable one-level living in a quiet Lexington neighborhood. This home would qualify for USDA 100% financing meaning no down payment if you qualify! With over 1,500 square feet, this home provides a spacious and functional layout designed for everyday living. Inside, you'll find a bright and inviting interior that has been well maintained and cared for, making it easy for the next owners to move right in. The single-story design offers a natural flow between living spaces while the bedrooms provide comfortable retreats with plenty of room to spread out. Step outside to enjoy one of the home's standout features — a fully fenced backyard offering complete privacy, perfect for pets, entertaining, or relaxing evenings at home. The covered back porch with pergola creates a welcoming outdoor space ideal for grilling, gathering with friends, or simply unwinding at the end of the day. If you're searching for a well-kept, move-in-ready home with a private backyard and great outdoor living space, 149 Creekstone Court is a must-see.

4. 2026-04-13
   listed $275,000 Active
5. 2026-04-03
   listed $275,000 Active 1154-char remark

   Show marketing remark (1154 chars)

   Welcome to 149 Creekstone Court, a move-in-ready 3-bedroom, 2-bath home, built in 2019, offering comfortable one-level living in a quiet Lexington neighborhood. This home would qualify for USDA 100% financing meaning no down payment if you qualify! With over 1,500 square feet, this home provides a spacious and functional layout designed for everyday living. Inside, you'll find a bright and inviting interior that has been well maintained and cared for, making it easy for the next owners to move right in. The single-story design offers a natural flow between living spaces while the bedrooms provide comfortable retreats with plenty of room to spread out. Step outside to enjoy one of the home's standout features — a fully fenced backyard offering complete privacy, perfect for pets, entertaining, or relaxing evenings at home. The covered back porch with pergola creates a welcoming outdoor space ideal for grilling, gathering with friends, or simply unwinding at the end of the day. If you're searching for a well-kept, move-in-ready home with a private backyard and great outdoor living space, 149 Creekstone Court is a must-see.

6. 2026-03-23
   historical $275,000 1154-char remark

   Show marketing remark (1154 chars)

   Welcome to 149 Creekstone Court, a move-in-ready 3-bedroom, 2-bath home, built in 2019, offering comfortable one-level living in a quiet Lexington neighborhood. This home would qualify for USDA 100% financing meaning no down payment if you qualify! With over 1,500 square feet, this home provides a spacious and functional layout designed for everyday living. Inside, you'll find a bright and inviting interior that has been well maintained and cared for, making it easy for the next owners to move right in. The single-story design offers a natural flow between living spaces while the bedrooms provide comfortable retreats with plenty of room to spread out. Step outside to enjoy one of the home's standout features — a fully fenced backyard offering complete privacy, perfect for pets, entertaining, or relaxing evenings at home. The covered back porch with pergola creates a welcoming outdoor space ideal for grilling, gathering with friends, or simply unwinding at the end of the day. If you're searching for a well-kept, move-in-ready home with a private backyard and great outdoor living space, 149 Creekstone Court is a must-see.

7. 2019-06-17
   soldstatus $185,000

ⓘ 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: $993 · $83/mo
• Projected year-2 tax: $2,255 · $188/mo
• Expected delta: +$1,262/yr (+$105/mo · 127.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,201
• − Mortgage interest: −$15,404
• − Property taxes: −$993
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − HOA: −$180
• − Depreciation: −$8,000
• Taxable loss: −$5,624
• Est. tax savings @ 24.0%: +$1,350
• After-tax cash flow: $615/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: Davidson County Schools
• NCES district ID: 3701140
• Math proficiency: 50% ▲ 2.00%
• Reading proficiency: 50% ▲ 2.00%
• Median HH income: $49,696
• Composite: 42.76/100
• National rank: #3157
• State rank: #62 of 178 in NC

Livability — Lexington

• Score: 72/100
• State rank: #89
• US rank: #6051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Davidson County · 129,088 people
• City population: 79,578
• Metro: Winston-Salem, NC
• Population (ZIP): 39,267
• Household income: $63,961
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 733.0

Population outlook (Davidson County) Hauer SSP2

• Today (2025): 167,156 people
• By 2030: 167,216 · +0.0%
• By 2040: 164,524 · -1.6%
• By 2050: 157,229 · -5.9%
• By 2075: 138,084 · -17.4%
• By 2100: 112,729 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 6% Black 6% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Slovak 2% Italian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Davidson

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.1%
• 2008→2024 swing: -13.5pp toward R · 2008: -33.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+47.5 2016: R+49.4 2012: R+40.9 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.39%
• Current HPI: 258.6557
• Rent YoY: ▲ 3.37%
• Metro: Winston-Salem, 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

+48.6% since first listed

7 events — show timeline

• 2026-05-20 Sold (MLS) $275,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-27 Pending — Triad MLS
• 2026-04-27 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-13 Listed $275,000 Triad MLS
• 2026-04-03 Listed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-23 Coming Soon $275,000 CANOPYMLS as Distributed by MLS Grid
• 2019-06-17 Sold (Public Records) $185,000 Public Records

Property tax history

+35.6%/yr

Latest (2025): $993 · +0.0% YoY. Source: county tax records.