315 Gillespie St · Greensboro, NC 27401

$114,999

3 bd · 1.0 ba · 1,150 sqft · SingleFamily public records · 5 Days on market

Built 1981 7,840 sqft lot Est $212k · 46% under

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Why this score? — see what drove the B- 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

We have multiple offers and the commissioner is calling for highest and best by this Friday 3/13/26 at 12 Noon. Please submit all offer via Jotforms with all new offer details and please upload all addenda, OTP, POF, and any other supporting docs - Investor ALERT! This will move quickly at this price. 3 bed 1 bath, needs TLC, and price reflects the need for repair. Sold As-is. Sold by commissioner of the court and subject to final coourt approval and 10 day upset period. Please review attached addenda for all offers. Some personal property may remain and to be removed at buyer expense. No utilties on and will not be turned on. Prefer cash offers. Home has been winterized

Key facts

• 7,840 sq ft lot
• Garage
• Built 1981

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 9.2% 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 (+1.8%/yr); 125 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).
• This rent runs 31% of the median local income ($48k/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 $795 of loan paydown is wiped out by about $3k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $39k; list at $115k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,999

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.09% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.22%
• DSCR: 1.45
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $211,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 Gillespie St	0.00mi	3/1.0	1,150 (0%)	1mo	$125,000	$109	99
610 Bingham St	0.24mi	3/2.0	1,159 (+1%)	10mo	$219,000	$189	75
2019 Hassall St	0.09mi	3/2.0	1,238 (+8%)	11mo	$220,500	$178	70
407 Gillespie St	0.03mi	3/2.0	1,292 (+12%)	7mo	$242,000	$187	68
317 Gant St	0.11mi	3/2.0	1,288 (+12%)	4mo	$191,000	$148	67
2127 Mcconnell Rd	0.54mi	3/2.0	1,132 (-2%)	2mo	$215,000	$190	67
311 Huffman St	0.49mi	4/1.0 (+1)	1,162 (+1%)	8mo	$145,000	$125	64
1709 Morning View Dr	0.27mi	3/2.0	1,227 (+7%)	10mo	$220,000	$179	64
719 S Benbow Rd	0.47mi	3/2.0	1,188 (+3%)	6mo	$235,000	$198	64
2102 Linda Jones Ave	0.42mi	3/2.5	1,262 (+10%)	3mo	$249,900	$198	56
218 Huffman St	0.42mi	3/1.5	1,025 (-11%)	9mo	$140,000	$137	53
303 W Camel St	0.61mi	2/2.0 (-1)	1,058 (-8%)	5mo	$195,000	$184	45

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 · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.92×
• Total profit: $-2,709
• Equity at exit: $17,147

10-year hold

• IRR: 6.1%
• Equity multiple: 1.43×
• Total profit: $13,946
• Equity at exit: $9,943

Cash invested: $32,200 (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 27401

• Home prices YoY: -28.9%
• Rents YoY: 1.8%
• Active inventory: 125
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,248 high
• Mortgage (P&I): −$603
• Tax from tax record: −$61 /mo · $731/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $274

Break-even live

Break-even rent $901

Max offer price $114,999

Occupancy floor 73%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
403 S O Henry Blvd Unit Alexander Homes Greensboro, NC	2.0	1.0	860	$875	$1.02	23d	1	0.08mi
503 S O Henry Blvd Greensboro, NC	2.0	1.0	860	$850	$0.99	23d	1	0.11mi
2001 Spencer St Greensboro, NC	2.0	1.0	720	$1,295	$1.80	23d	1	0.27mi
201 Huffman St Greensboro, NC	3.0	2.0	1350	$1,000	$0.74	14d	1	0.37mi
112 S Raleigh St Greensboro, NC	3.0	1.0	1000	$1,200	$1.20	23d	1	0.45mi
110 S Raleigh St Greensboro, NC	3.0	1.0	1000	$1,200	$1.20	23d	1	0.45mi
2011 Lutheran St Greensboro, NC	2.0	1.0	800	$985	$1.23	23d	1	0.60mi
522 Banner Ave Greensboro, NC	3.0	2.0	822	$1,600	$1.95	23d	1	0.70mi
600 Banner Ave Unit 614-B Greensboro, NC	2.0	1.5	850	$850	$1.00	23d	1	0.72mi
1001 E Bragg St Apt B Greensboro, NC	2.0	1.0	700	$925	$1.32	14d	1	0.87mi
2117 Tuscaloosa St Greensboro, NC	3.0	1.0	1000	$1,600	$1.60	23d	1	0.89mi
710 Reid St Greensboro, NC	3.0	1.0	925	$1,395	$1.51	14d	1	0.91mi
405 N Dudley St Greensboro, NC	3.0	2.0	1264	$2,200	$1.74	14d	1	0.93mi
909 Beaumont Ave Greensboro, NC	4.0	2.0	1192	$1,625	$1.36	23d	1	0.96mi
1404 Ardmore Dr Greensboro, NC	3.0	2.0	1094	$1,625	$1.49	14d	1	0.98mi
506 Martin St Greensboro, NC	3.0	2.0	1296	$1,500	$1.16	23d	1	1.06mi
1112 Stephens St Greensboro, NC	2.0	1.0	744	$1,250	$1.68	19d	1	1.09mi
909 Tuscaloosa St Greensboro, NC	2.0	1.0	840	$1,195	$1.42	23d	1	1.11mi
309 Holt Ave Greensboro, NC	2.0	1.0	1000	$1,175	$1.18	23d	1	1.13mi
904 Stephens St Greensboro, NC	3.0	1.0	1052	$1,490	$1.42	14d	1	1.22mi
2509 Pinnix St Unit B Greensboro, NC	3.0	2.0	860	$995	$1.16	23d	1	1.30mi
1610 Eastwood Ave Greensboro, NC	3.0	2.0	950	$1,750	$1.84	23d	1	1.30mi
311 Guerrant St Greensboro, NC	3.0	1.0	1025	$1,295	$1.26	23d	1	1.34mi
3817 Central Ave Greensboro, NC	4.0	2.0	1200	$1,740	$1.45	14d	1	1.34mi
610 Holt Ave Greensboro, NC	2.0	1.0	1092	$1,300	$1.19	14d	1	1.35mi
1923 Belcrest Dr Greensboro, NC	4.0	1.5	1205	$1,895	$1.57	19d	1	1.38mi
3900 Hahns Ln Greensboro, NC	2.0	1.0	880	$955	$1.09	14d	8	1.41mi
238 E Lewis St #302 Greensboro, NC	2.0	2.0	1270	$1,795	$1.41	23d	1	1.42mi
2007 S Benbow Rd Greensboro, NC	3.0	1.0	960	$1,100	$1.15	23d	1	1.45mi
321 S Elm St Greensboro, NC	1.0–2.0	1.0–2.0	950	$1,787	$1.88	14d	8	1.46mi
405 E Whittington St Greensboro, NC	2.0	1.0	700	$995	$1.42	23d	1	1.50mi

Listing history 3 events

1. 2026-03-15
   status Pending
2. 2026-03-09
   listed $114,999 Active
3. 1981-08-01
   soldstatus $39,000

ⓘ 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: $731 · $61/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$212/yr (+$18/mo · 28.9%)

ⓘ 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 · 18 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: $14,981
• − Mortgage interest: −$6,442
• − Property taxes: −$731
• − Insurance: −$575
• − Repairs & maintenance: −$1,198
• − Management: −$1,198
• − Depreciation: −$3,345
• Taxable income: $1,491
• Est. tax owed @ 24.0%: −$358
• After-tax cash flow: $2,934/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): 21,920
• Household income: $47,972
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 1138.0

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: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 6% Arabic 2% French/Haitian/Cajun 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: ▼ -97.87%
• Current HPI: 240.5377
• Rent YoY: ▲ 1.78%
• 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

+194.9% since first listed

3 events — show timeline

• 2026-03-15 Pending — Triad MLS
• 2026-03-09 Listed $114,999 Triad MLS
• 1981-08-01 Sold (Public Records) $39,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $731 · -1.0% YoY. Source: county tax records.