1145 Taos Trl · Fuquay-Varina, NC 27603

$255,000

3 bd · 2.0 ba · 1,620 sqft · Manufactured public records · 143 Days on market

Built 1995 0.92 ac lot

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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 +14.9/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• DSCR +4.6/10.0
• 1% rule +3.1/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Private Retreat. Prime Location. Nearly an Acre. Enjoy space, privacy, and convenience in this charming 3BR/2BA home just minutes from I-540 and the heart of the Triangle. Inside, a bright open floor plan flows from the cozy fireplace in the living room to the dining area and out through French doors to a large rear deck. Perfect for morning coffee, weekend cookouts, or relaxing under mature trees in your peaceful backyard. The kitchen offers plenty of prep space and storage, while the split-bedroom layout provides privacy for the spacious primary suite featuring a soaking tub and dual closets. Fresh paint throughout, new crawlspace vapor barrier, mudroom with exterior access, dedicated lau

Key facts

• Open floor plan
• Cozy fireplace
• Rear deck

Tags

• OPEN FLOOR PLAN
• COZY FIREPLACE
• REAR DECK
• SERENE BACKYARD
• MATURE TREES
• CHEF'S KITCHEN

Property features AI

Finance

• Other: Lot approximately 0.92 acres
• HOA & community: No association

Exterior

• Parking: Gravel parking
• Utilities: Well water; Septic tank; Electricity connected; Water connected; Septic connected
• Home design: Manufactured house (double wide); One story; Brick/mortar foundation; Shingle roof
• Construction: Vinyl siding
• Exterior features: Deck; Publicly maintained asphalt road access; Zoned R-30

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump provides heating and cooling
• Interior features: Water heater; Vinyl flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $255k.

Deal economics

• At list price, monthly cash flow is $77 ($922/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (19.0% below list).
• Recommended offer: $207k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.0% in Fuquay-Varina — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Rand Road Elementary (math 31% / reading 40%, grade F, #817 of 1,410 statewide, top 58%, 370 students, 50% FRL); North Garner Middle (math 29% / reading 38%, grade F, #299 of 475 statewide, top 64%, 975 students, 57% FRL); Garner High (math 32% / reading 56%, grade F, #367 of 535 statewide, top 69%, 1,683 students, 50% FRL) — zoned schools average 52% FRL vs 30% district-wide (22 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 (+1.6%/yr); 493 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k 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 143 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $54k; list at $255k implies a 377% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% 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 $206,667 (19.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.81% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.59% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.45×
• Total profit: $-39,414
• Equity at exit: $38,021

10-year hold

• IRR: -9.7%
• Equity multiple: 0.44×
• Total profit: $-39,942
• Equity at exit: $22,048

Cash invested: $71,400 (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 27603

• Rents YoY: 1.6%
• Active inventory: 493
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,067 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$112 /mo · $1,348/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $77

Break-even live

Break-even rent $1,969

Max offer price $255,000

Occupancy floor 91%

Sensitivity live

Price	-10% $221	-5% $149	+0% $77	+5% $5	+10% $-68
Rent	-10% $-86	-5% $-5	+0% $77	+5% $158	+10% $240
Rate	-1.0pp $205	-0.5pp $142	base $77	+0.5pp $11	+1.0pp $-56

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1021 Silver Farm Rd Raleigh, NC	3.0	3.0	2097	$2,685	$1.28	25d	1	0.39mi

Listing history 5 events

1. 2026-05-04
   status Pending
2. 2026-04-02
   price $255,000
3. 2026-01-25
   price $265,000
4. 2025-12-11
   listed $272,000 Active
5. 2016-08-22
   soldstatus $53,500

ⓘ 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: $1,348 · $112/mo
• Projected year-2 tax: $2,091 · $174/mo
• Expected delta: +$743/yr (+$62/mo · 55.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $24,800
• − Mortgage interest: −$14,284
• − Property taxes: −$1,348
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,984
• − Management: −$1,984
• − Depreciation: −$7,418
• Taxable loss: −$3,493
• Est. tax savings @ 24.0%: +$838
• After-tax cash flow: $1,760/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 — Fuquay-Varina

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wake County · 1,216,256 people
• Metro: Raleigh-Cary, NC
• Population (ZIP): 53,972
• Household income: $90,484
• Rent vs Own: 38.6% rent · 61.4% own
• Severe rent burden: 1914.0

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 0.57)
• Race & ethnicity: White 62% Black 17% Hispanic / Latino 14% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Spanish 10% Other Indo-European 1% Arabic 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: ▼ -132.00%
• Current HPI: 243.2963
• Rent YoY: ▲ 1.59%
• 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

+376.6% since first listed

5 events — show timeline

• 2026-05-04 Pending — TMLS
• 2026-04-02 Price Changed $255,000 TMLS
• 2026-01-25 Price Changed $265,000 TMLS
• 2025-12-11 Listed $272,000 TMLS
• 2016-08-22 Sold (Public Records) $53,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,348 · +2.9% YoY. Source: county tax records.