1228 N Miami Blvd · Durham, NC 27703

$195,000

2 bd · 1.0 ba · 954 sqft · SingleFamily public records · 62 Days on market

Built 1938 7,405 sqft lot Est $247k · 21% under

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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 +9.6/30.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• DSCR +2.7/10.0
• Rent growth +2.7/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICED TO SELL! WELL BELOW TAX VALUE. MOSTLY BRICK RANCH WITH SIDING ON ADDITION. GOOD STORAGE IN TALL CRAWL SPACE. DETACHED SHELL GARAGE NEEDS NEW ROOF FRAMING. BUYERS AGENT/BUYER TO VERIFY HVAC. NO PROPERTY DISCLOSURE REQUIRED & NO SURVEY AVAILABLE. PLEASE PROVIDE PREQUAL LETTER OR PROOF OF FUNDS WITH THE OFFER.

Key facts

• 7,405 sq ft lot
• Built 1938
• Listed 62 days

Property features AI

Finance

• Other: Lot about 0.17 acres; Zoning: R-5
• HOA & community: No association

Exterior

• Parking: Driveway; On-street parking; Unpaved parking
• Utilities: Public water; Public sewer (connected); Electricity available; Cable available; Phone available
• Home design: House; One story
• Construction: Brick and wood siding exterior; Architectural shingle roof; Daylight basement with walk-in crawl space
• Exterior features: Front porch; Side porch

Interior

• Kitchen: Electric oven
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Fireplace heating option; Central air conditioning
• Interior features: Ceiling fans; Fireplace (1)
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry hookups located in bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-132 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (24.6% below list).
• Recommended offer: $147k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.0% in Durham — 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 (#15 in NC, #1,411 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Durham Public Schools (urban): math 29% / reading 39% proficiency, ranked #132 of 178 in NC (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riverside High (math 49% / reading 42%, grade D-, #347 of 535 statewide, top 65%, 1,812 students, 51% FRL).
• Market conditions: Rents flat; 1103 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,905 units permitted in Durham County in 2024 (955 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.
• Durham County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $28k; list at $195k implies a 587% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,119 (24.6% 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. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.75% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.91%
• DSCR: 0.87
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $247,086
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1609 Juniper St	0.08mi	3/1.0 (+1)	1,022 (+7%)	3mo	$163,750	$160	77
1116 Delano St	0.33mi	3/1.0 (+1)	990 (+4%)	3mo	$222,000	$224	71
1112 N Driver St	0.25mi	2/1.0	1,036 (+9%)	4mo	$268,500	$259	71
1107 N Hyde Park Ave	0.48mi	3/1.0 (+1)	960 (+1%)	6mo	$299,500	$312	66
1613 Kilmer Ter	0.14mi	2/1.0	845 (-11%)	10mo	$249,000	$295	66
1522 London Cir	0.26mi	2/1.0	826 (-13%)	6mo	$257,500	$312	60
1147 Delano St	0.40mi	3/1.0 (+1)	1,067 (+12%)	2mo	$250,000	$234	55
1309 N Hyde Park Ave	0.48mi	3/1.0 (+1)	875 (-8%)	7mo	$175,000	$200	53
1513 Fairfax Rd	0.33mi	2/1.0	821 (-14%)	11mo	$257,400	$314	52
1121 Raynor St	0.36mi	3/2.0 (+1)	1,062 (+11%)	5mo	$270,000	$254	51
919 Chester St	0.56mi	2/1.0	855 (-10%)	9mo	$200,000	$234	49
1915 Taylor St	0.65mi	3/2.0 (+1)	1,050 (+10%)	8mo	$282,500	$269	37

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 · 0.84% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.21×
• Total profit: $-43,175
• Equity at exit: $29,075

10-year hold

• IRR: -25.1%
• Equity multiple: -0.11×
• Total profit: $-60,800
• Equity at exit: $16,860

Cash invested: $54,600 (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 27703

• Rents YoY: 0.8%
• Active inventory: 1103
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,471 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$191 /mo · $2,290/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $-132

Break-even live

Break-even rent $1,639

Max offer price $171,600

Occupancy floor —

Sensitivity live

Price	-10% $-22	-5% $-77	+0% $-132	+5% $-188	+10% $-243
Rent	-10% $-249	-5% $-191	+0% $-132	+5% $-74	+10% $-16
Rate	-1.0pp $-34	-0.5pp $-83	base $-132	+0.5pp $-183	+1.0pp $-234

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1609 Evergreen St Durham, NC	2.0	1.0	1051	$1,695	$1.61	22d	1	0.10mi
916 Fiske St Unit A Durham, NC	2.0	1.0	800	$1,050	$1.31	24d	1	0.18mi
910 Fiske St Unit B Durham, NC	2.0	1.0	750	$1,025	$1.37	24d	1	0.20mi
905 Bunn Ter Durham, NC	1.0	1.0	560	$875	$1.56	24d	1	0.26mi
1516 London Cir Durham, NC	3.0	1.0	1118	$1,650	$1.48	24d	1	0.30mi
518 N Hardee St Durham, NC	1.0–2.0	1.0–1.5	665	$1,299	$1.95	24d	1	0.50mi
1828 Liberty St Unit B Durham, NC	2.0	1.0	1100	$1,450	$1.32	14d	1	0.54mi
1237 Naples Pl Durham, NC	1.0–4.0	1.0–2.0	995	$1,233	$1.24	12d	1	0.56mi
600 N Hyde Park Ave Unit A Durham, NC	1.0	1.0	570	$1,000	$1.75	24d	1	0.65mi
201 Raynor St Durham, NC	1.0	1.0	600	$1,150	$1.92	24d	1	0.77mi
1600 N Alston Ave Unit C Durham, NC	2.0	1.0	800	$1,150	$1.44	14d	1	0.77mi
607 Dowd St Durham, NC	2.0	1.0	720	$1,550	$2.15	24d	1	0.87mi
721 Liberty St Unit C Durham, NC	2.0	1.0	800	$1,495	$1.87	24d	1	0.93mi
2011 Aiken Ave Durham, NC	3.0	2.0	1120	$1,595	$1.42	24d	1	0.94mi
2408 Hart St Durham, NC	3.0	1.0	960	$1,445	$1.51	24d	1	0.95mi
506 Gurley St Unit A Durham, NC	2.0	1.0	775	$1,300	$1.68	14d	1	1.05mi
103 Young Ave Durham, NC	1.0	1.0	600	$945	$1.57	24d	1	1.06mi
807 E Main St Durham, NC	1.0	1.0	1000	$1,695	$1.70	24d	2	1.08mi
2113 Angier Ave Apt B Durham, NC	2.0	1.0	925	$1,300	$1.41	24d	1	1.13mi
2313 Owen St Unit A Durham, NC	1.0	1.0	600	$1,095	$1.82	24d	1	1.16mi
2309 Owen St Unit B Durham, NC	1.0	1.0	600	$1,095	$1.82	24d	1	1.18mi
2418 Owen St Unit A Durham, NC	2.0	1.0	750	$1,195	$1.59	14d	1	1.21mi
208 Gray Ave Apt 4H Durham, NC	2.0	1.0	800	$1,250	$1.56	24d	1	1.22mi
518 Boone St Unit 103 Durham, NC	2.0	1.0	850	$1,095	$1.29	14d	1	1.26mi
500 E Main St Durham, NC	3.0	1.0–2.0	1002	$2,920	$2.91	14d	40	1.31mi
200 W Geer St Unit 200-C Durham, NC	2.0	1.0	850	$1,400	$1.65	14d	1	1.37mi
311 W Corporation St Durham, NC	2.0	1.0–2.0	691	$3,505	$5.07	22d	5	1.48mi
311 W Corporation St Unit 3-201 Durham, NC	2.0	2.0	985	$3,355	$3.41	24d	1	1.48mi
321 W Corporation St Durham, NC	2.0	2.0	977	$2,530	$2.59	14d	1	1.49mi
815 Madison St Durham, NC	2.0	1.0–2.0	859	$2,854	$3.32	22d	5	1.50mi

Listing history 28 events

1. 2026-06-18
   days on market $195,000 Active 62 DOM
2. 2026-06-17
   days on market $195,000 Active 61 DOM
3. 2026-06-16
   days on market $195,000 Active 60 DOM
4. 2026-06-15
   days on market $195,000 Active 59 DOM
5. 2026-06-14
   days on market $195,000 Active 57 DOM
6. 2026-06-10
   days on market $195,000 Active 54 DOM
7. 2026-06-09
   days on market $195,000 Active 53 DOM
8. 2026-06-08
   days on market $195,000 Active 52 DOM
9. 2026-06-07
   days on market $195,000 Active 51 DOM
10. 2026-06-05
    days on market $195,000 Active 48 DOM
11. 2026-06-03
    days on market $195,000 Active 47 DOM
12. 2026-06-02
    days on market $195,000 Active 46 DOM
13. 2026-06-01
    days on market $195,000 Active 45 DOM
14. 2026-05-31
    days on market $195,000 Active 44 DOM
15. 2026-05-30
    days on market $195,000 Active 43 DOM
16. 2026-04-25
    price $195,000
17. 2026-04-23
    status Active
18. 2026-04-16
    status Pending
19. 2026-04-10
    listed $205,000 Active
20. 2015-10-22
    soldstatus $28,367
21. 2010-09-16
    historical
22. 2009-06-16
    listed $23,000
23. 2004-09-28
    soldstatus $29,900 321-char remark

    Show marketing remark (321 chars)

    PRICED TO SELL! WELL BELOW TAX VALUE. MOSTLY BRICK RANCH WITH SIDING ON ADDITION. GOOD STORAGE IN TALL CRAWL SPACE. DETACHED SHELL GARAGE NEEDS NEW ROOF FRAMING. BUYERS AGENT/BUYER TO VERIFY HVAC. NO PROPERTY DISCLOSURE REQUIRED & NO SURVEY AVAILABLE. PLEASE PROVIDE PREQUAL LETTER OR PROOF OF FUNDS WITH THE OFFER.

24. 2004-08-12
    listed $29,900 321-char remark

    Show marketing remark (321 chars)

    PRICED TO SELL! WELL BELOW TAX VALUE. MOSTLY BRICK RANCH WITH SIDING ON ADDITION. GOOD STORAGE IN TALL CRAWL SPACE. DETACHED SHELL GARAGE NEEDS NEW ROOF FRAMING. BUYERS AGENT/BUYER TO VERIFY HVAC. NO PROPERTY DISCLOSURE REQUIRED & NO SURVEY AVAILABLE. PLEASE PROVIDE PREQUAL LETTER OR PROOF OF FUNDS WITH THE OFFER.

25. 2004-06-15
    historical
26. 2004-04-22
    listed $44,900
27. 2001-12-03
    soldstatus $95,000
28. 1997-05-01
    soldstatus $34,000

ⓘ 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: $2,290 · $191/mo
• Projected year-2 tax: $2,290 · $191/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 ≥106°F today · 16 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: $17,654
• − Mortgage interest: −$10,923
• − Property taxes: −$2,290
• − Insurance: −$975
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$5,673
• Taxable loss: −$5,031
• Est. tax savings @ 24.0%: +$1,208
• After-tax cash flow: $-382/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: Durham Public Schools
• NCES district ID: 3701260
• Math proficiency: 29% ▼ -3.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $52,143
• Composite: 29.69/100
• National rank: #6457
• State rank: #132 of 178 in NC

Livability — Durham

• Score: 81/100
• State rank: #15
• US rank: #1411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Durham, NC
• County: Durham County · 288,747 people
• City population: 288,747
• Metro: Durham-Chapel Hill, NC
• Population (ZIP): 63,458
• Household income: $89,317
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1685.0

Population outlook (Durham County) Hauer SSP2

• Today (2025): 368,962 people
• By 2030: 402,686 · +9.1%
• By 2040: 468,677 · +27.0%
• By 2050: 531,727 · +44.1%
• By 2075: 660,446 · +79.0%
• By 2100: 739,971 · +100.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 40% White 32% Hispanic / Latino 20% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Swiss 2% Romanian 2% Italian 1%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 77% English-only · Spanish 17% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Durham

• 2024 margin: Solid D (+61.9) · D 80.2% · R 18.2% · Other 1.6%
• 2008→2024 swing: +10.0pp toward D · 2008: 51.9pp · 2024: 61.9pp
• All cycles: 2024: D+61.9 2020: D+62.4 2016: D+60.4 2012: D+52.7 2008: D+51.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.81%
• Current HPI: 206.7413
• Rent YoY: ▲ 0.84%
• 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

+473.5% since first listed

13 events — show timeline

• 2026-04-25 Price Changed $195,000 TMLS
• 2026-04-23 Relisted — TMLS
• 2026-04-16 Pending — TMLS
• 2026-04-10 Listed $205,000 TMLS
• 2015-10-22 Sold (Public Records) $28,367 Public Records
• 2010-09-16 Listing Removed — TMLS
• 2009-06-16 Listed $23,000 TMLS
• 2004-09-28 Sold (MLS) $29,900 TMLS
• 2004-08-12 Listed $29,900 TMLS
• 2004-06-15 Listing Removed — TMLS
• 2004-04-22 Listed $44,900 TMLS
• 2001-12-03 Sold (Public Records) $95,000 Public Records
• 1997-05-01 Sold (Public Records) $34,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,290 · +85.7% YoY. Source: county tax records.