2137 Roger St · Burlington, NC 27217

$120,000

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 5 Days on market

Built 1954 0.26 ac lot Est $187k · 36% under ↓ 31% since listing

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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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Multiple Offer Deadline 5/22 at 3:00 pm. Fixer Upper with loads of potential! One level, low maintenance vinyl siding exterior home. Located in the city limits of Burlington. Features include living room, kitchen, 3 bedrooms. Partial fencing of backyard area. Convenient location to local shopping, restaurants and more. Sold as-is.

Key facts

• 0.26 acre lot
• 2 parking spots
• Built 1954

Property features AI

Finance

• Other: Lot roughly 0.26 acre
• HOA & community: No association

Exterior

• Parking: Open parking (2 spaces); Driveway
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single-story house; Residential zoning; Fixer condition
• Construction: Vinyl siding; Composition/shingle roof; Built as a house
• Exterior features: Front porch; Partial fencing; Storage; Gravel driveway

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Storm door(s); Storage
• Laundry & utility: Laundry located outside / other

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 10.1% vs local median 3.6% in Burlington — 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 70/100 on livability (#123 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, crime F, amenities F.
• Alamance-Burlington Schools (rural): math 30% / reading 40% proficiency, ranked #133 of 178 in NC (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hugh M Cummings High (math 17% / reading 32%, grade F, #474 of 535 statewide, top 90%, 981 students, 80% FRL) — zoned schools average 80% FRL vs 51% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 273 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,466 units permitted in Alamance County in 2024 (403 in 5+ unit buildings).
• This rent runs 34% of the median local income ($52k/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 $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Alamance County population projected at +19% 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.
• 3 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

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 1.22% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.61%
• DSCR: 1.61
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $187,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2137 Roger St	0.00mi	3/1.0	919 (+4%)	0mo	$120,000	$131	92
2107 Martin St	0.13mi	3/1.0	923 (+5%)	2mo	$190,000	$206	84
2326 Mckinney St	0.43mi	3/1.0	912 (+4%)	3mo	$197,500	$217	71
422 Hyde St	0.28mi	3/1.0	951 (+8%)	10mo	$203,000	$213	65
2322 Mckinney St	0.42mi	3/1.0	955 (+8%)	8mo	$210,000	$220	60
2302 Mckinney St	0.40mi	2/1.0 (-1)	949 (+8%)	5mo	$170,000	$179	59
324 Dare St	0.22mi	3/1.0	984 (+12%)	13mo	$210,000	$213	59
505 Brookline Dr	0.64mi	2/1.0 (-1)	864 (-2%)	5mo	$135,000	$156	58
2253 Pine Knoll Ter	0.59mi	2/1.0 (-1)	840 (-4%)	8mo	$180,000	$214	53
1706 Oklahoma Ave	0.63mi	2/1.0 (-1)	964 (+10%)	8mo	$156,000	$162	43
1719 Piedmont Way	0.63mi	2/1.0 (-1)	1,005 (+14%)	8mo	$175,000	$174	35
1723 Oklahoma Ave	0.58mi	2/1.5 (-1)	779 (-12%)	15mo	$203,000	$261	34

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 · 1.06% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,011
• Equity at exit: $17,892

10-year hold

• IRR: 9.3%
• Equity multiple: 1.65×
• Total profit: $21,873
• Equity at exit: $10,375

Cash invested: $33,600 (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 27217

• Home prices YoY: -22.3%
• Rents YoY: 1.1%
• Active inventory: 273
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,470 high
• Mortgage (P&I): −$629
• Tax from tax record: −$101 /mo · $1,209/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $381

Break-even live

Break-even rent $987

Max offer price $120,000

Occupancy floor 69%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1900 Morningside Dr Burlington, NC	1.0–3.0	1.0–2.0	1076	$1,500	$1.39	13d	1	0.64mi
1055 Baldwin Ridge Rd Burlington, NC	1.0–3.0	1.0–2.0	1025	$1,799	$1.76	13d	19	1.17mi
632 New St Graham, NC	2.0	1.0	900	$1,200	$1.33	21d	1	1.26mi
709 Maryland Ave Burlington, NC	2.0	1.0	786	$1,225	$1.56	21d	1	1.29mi
1016 Grace Ave Burlington, NC	3.0	1.0	994	$1,245	$1.25	21d	1	1.32mi
614 E Parker St Unit J Graham, NC	2.0	1.0	850	$1,125	$1.32	13d	1	1.34mi
212 College St Apt G Graham, NC	2.0	1.5	1050	$1,125	$1.07	21d	1	1.43mi
910 N Main St Unit A Burlington, NC	2.0	2.0	1100	$1,395	$1.27	13d	1	1.45mi
400 Walker Ave Graham, NC	2.0	1.0	552	$1,100	$1.99	21d	1	1.48mi

Listing history 7 events

1. 2026-05-23
   status Pending Accepting Backup Offers 332-char remark

   Show marketing remark (332 chars)

   Multiple Offer Deadline 5/22 at 3:00 pm. Fixer Upper with loads of potential! One level, low maintenance vinyl siding exterior home. Located in the city limits of Burlington. Features include living room, kitchen, 3 bedrooms. Partial fencing of backyard area. Convenient location to local shopping, restaurants and more. Sold as-is.

2. 2026-05-23
   status Pending

   Show marketing remark (332 chars)

   Multiple Offer Deadline 5/22 at 3:00 pm. Fixer Upper with loads of potential! One level, low maintenance vinyl siding exterior home. Located in the city limits of Burlington. Features include living room, kitchen, 3 bedrooms. Partial fencing of backyard area. Convenient location to local shopping, restaurants and more. Sold as-is.

3. 2026-05-18
   listed $120,000 Active 332-char remark

   Show marketing remark (332 chars)

   Multiple Offer Deadline 5/22 at 3:00 pm. Fixer Upper with loads of potential! One level, low maintenance vinyl siding exterior home. Located in the city limits of Burlington. Features include living room, kitchen, 3 bedrooms. Partial fencing of backyard area. Convenient location to local shopping, restaurants and more. Sold as-is.

4. 2026-05-18
   listed $120,000 Active

   Show marketing remark (332 chars)

   Multiple Offer Deadline 5/22 at 3:00 pm. Fixer Upper with loads of potential! One level, low maintenance vinyl siding exterior home. Located in the city limits of Burlington. Features include living room, kitchen, 3 bedrooms. Partial fencing of backyard area. Convenient location to local shopping, restaurants and more. Sold as-is.

5. 2025-09-12
   historical
6. 2025-09-04
   price $150,000
7. 2025-08-11
   listed $175,000 Active

ⓘ 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: $1,209 · $101/mo
• Projected year-2 tax: $1,209 · $101/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,639
• − Mortgage interest: −$6,722
• − Property taxes: −$1,209
• − Insurance: −$600
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − Depreciation: −$3,491
• Taxable income: $2,795
• Est. tax owed @ 24.0%: −$671
• After-tax cash flow: $3,904/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: Alamance-Burlington Schools
• NCES district ID: 3700030
• Math proficiency: 30% ▼ -6.00%
• Reading proficiency: 40% ▲ 2.00%
• Median HH income: $43,359
• Composite: 29.68/100
• National rank: #6460
• State rank: #133 of 178 in NC

Livability — Burlington

• Score: 70/100
• State rank: #123
• US rank: #7396

Category grades

Amenities F Commute D+ 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: Burlington, NC
• County: Alamance County · 173,369 people
• City population: 88,508
• Metro: Burlington, NC
• Population (ZIP): 41,406
• Household income: $51,950
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1040.0

Population outlook (Alamance County) Hauer SSP2

• Today (2025): 173,381 people
• By 2030: 180,609 · +4.2%
• By 2040: 194,327 · +12.1%
• By 2050: 206,158 · +18.9%
• By 2075: 235,665 · +35.9%
• By 2100: 258,626 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 38% Black 29% Hispanic / Latino 29% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 1%
• Common ancestry: Serbian 2% Italian 1% Slovak 1%
• Foreign-born: 13% · Canada
• Languages at home: 75% English-only · Spanish 24%

Political lean MEDSL · Alamance

• 2024 margin: Lean R (+8.2) · D 45.4% · R 53.5% · Other 1.1%
• 2008→2024 swing: +1.1pp toward D · 2008: -9.2pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+8.4 2016: R+12.9 2012: R+14.1 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.45%
• Current HPI: 259.8107
• Rent YoY: ▲ 1.06%
• Metro: Burlington, 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

-31.4% since first listed

7 events — show timeline

• 2026-05-23 Pending — Triad MLS
• 2026-05-23 Pending — TMLS
• 2026-05-18 Listed $120,000 TMLS
• 2026-05-18 Listed $120,000 Triad MLS
• 2025-09-12 Listing Removed — TMLS
• 2025-09-04 Price Changed $150,000 TMLS
• 2025-08-11 Listed $175,000 TMLS

Property tax history

+11.7%/yr

Latest (2025): $1,209 · +2.6% YoY. Source: county tax records.