534 Overlook St · Greensboro, NC 27403

$145,000

2 bd · 1.0 ba · 675 sqft · Condo public records · 14 Days on market

Built 1950

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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 +9.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute condo in Sunset Hills! Located just minutes from Downtown and Friendly Center. Quiet neighborhood with TWO pools included in HOA dues. Move in ready or great potential rental - washer/dryer and refrigerator remain and HVAC is 2 years old. Gleaming hardwoods in Living Room and Bedrooms. Nice stained glass window in bath. This one is a must see!

Key facts

• Tiled flooring
• Two year old furnace
• Stain glass window

Tags

• UPDATED OPEN PLAN KITCHEN
• TWO YEAR OLD FURNACE
• TWO YEAR OLD ROOF
• NEW SINK
• TILED FLOORING
• STAIN GLASS WINDOW

Property features AI

Exterior

• Home design: Condo
• Construction: Living area approximately 675 (unit not specified)
• Exterior features: Lot of approximately 871 (unit not specified)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (5.4% below list).
• Recommended offer: $137k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.8% in Greensboro — 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 (#12 in NC, #1,335 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.8%/yr); 67 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 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 $4k of value loss. Plan a longer hold.
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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.
• Current owner paid $60k; list at $145k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $137,231 (5.4% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.88%
• DSCR: 0.87
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.75% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.26×
• Total profit: $-29,909
• Equity at exit: $21,620

10-year hold

• IRR: -15.3%
• Equity multiple: 0.14×
• Total profit: $-34,901
• Equity at exit: $12,537

Cash invested: $40,600 (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 27403

• Rents YoY: 2.8%
• Active inventory: 67
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,372 high
• Mortgage (P&I): −$760
• Tax from tax record: −$97 /mo · $1,160/yr
• Insurance: −$60
• HOA est. from 1 same-building comp: −$264
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-97

Break-even live

Break-even rent $1,496

Max offer price $127,805

Occupancy floor —

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1852 Villa Dr Greensboro, NC	2.0	1.0	654	$1,500	$2.29	23d	1	0.10mi
1604 W Lake Dr Greensboro, NC	2.0	1.0	655	$1,500	$2.29	23d	1	0.26mi
700 N Josephine Boyd St Greensboro, NC	2.0	1.0	669	$1,550	$2.32	14d	1	0.28mi
720 S Elam Ave Greensboro, NC	2.0	1.0	642	$1,100	$1.71	14d	1	1.08mi
720 S Elam Ave Greensboro, NC	2.0	1.0	642	$1,100	$1.71	19d	1	1.08mi
1915 Spring Garden St Greensboro, NC	2.0–3.0	2.0–3.0	786	$695	$0.88	14d	32	1.17mi
2003 Spring Garden St Greensboro, NC	1.0	1.0	600	$995	$1.66	23d	1	1.17mi
404 W Smith St Greensboro, NC	1.0–2.0	1.0–2.0	803	$1,719	$2.14	14d	8	1.25mi
2529 Spring Garden St Unit A1 Greensboro, NC	1.0	1.0	600	$950	$1.58	23d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $145,000 Active 14 DOM
2. 2026-06-17
   days on market $145,000 Active 13 DOM
3. 2026-06-16
   days on market $145,000 Active 12 DOM
4. 2026-06-15
   days on market $145,000 Active 11 DOM
5. 2026-06-14
   days on market $145,000 Active 9 DOM
6. 2026-06-10
   days on market $145,000 Active 6 DOM
7. 2026-06-09
   days on market $145,000 Active 5 DOM
8. 2026-06-08
   days on market $145,000 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $145,000 Active 3 DOM

ⓘ 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: $1,160 · $97/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$29/yr (+$2/mo · 2.5%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $16,468
• − Mortgage interest: −$8,122
• − Property taxes: −$1,160
• − Insurance: −$725
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − HOA: −$3,168
• − Depreciation: −$4,218
• Taxable loss: −$3,560
• Est. tax savings @ 24.0%: +$854
• After-tax cash flow: $-314/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: Guilford County Schools
• NCES district ID: 3701920
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $46,315
• Composite: 35.78/100
• National rank: #4842
• State rank: #99 of 178 in NC

Livability — Greensboro

• Score: 81/100
• State rank: #12
• US rank: #1335

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greensboro, NC
• County: Guilford County · 487,190 people
• City population: 329,421
• Metro: Greensboro-High Point, NC
• Population (ZIP): 22,557
• Household income: $57,917
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 1047.0

Population outlook (Guilford County) Hauer SSP2

• Today (2025): 584,596 people
• By 2030: 616,851 · +5.5%
• By 2040: 678,451 · +16.1%
• By 2050: 734,788 · +25.7%
• By 2075: 862,985 · +47.6%
• By 2100: 948,704 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 52% Black 25% Hispanic / Latino 14% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 86% English-only · Spanish 8% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Guilford

• 2024 margin: Strong D (+21.8) · D 60.2% · R 38.4% · Other 1.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 18.4pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+23.1 2016: D+20.0 2012: D+16.5 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -215.63%
• Current HPI: 222.3145
• Rent YoY: ▲ 2.75%
• Metro: Greensboro-High Point, 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

+253.7% since first listed

6 events — show timeline

• 2026-06-04 Listed $145,000 ForSaleByOwner.com
• 2013-09-18 Sold (Public Records) $59,500 Public Records
• 2013-09-18 Sold (MLS) $59,500 Triad MLS
• 2013-06-11 Listed $59,500 Triad MLS
• 1998-05-05 Sold (Public Records) $47,000 Public Records
• 1993-01-01 Sold (Public Records) $41,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,160 · -1.0% YoY. Source: county tax records.