The McGinnis Plan · Sanford, NC 27332

$301,990

4 bd · 2.5 ba · 2,372 sqft · SingleFamily · 88 Days on market

Excellent condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Condition / age +5.0/5.0
• Cash flow +4.6/30.0
• Schools +3.9/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The McGinnis is a two-story plan with a welcoming wide entry leading to a traditional dining room perfect for entertaining. The kitchen and family room live to the rear of the home, with convenient access to the yard. Upstairs, you'll find the spacious owner's suite and three secondary bedrooms, each with walk-in closets. A large secondary bathroom and ample laundry room are located off the open loft. For flexible living, a study or fifth bedroom and full bath are optional on the first floor.

Key facts

• Access to the yard
• Walk-in closets
• Wide entry

Tags

• WIDE ENTRY
• TRADITIONAL DINING ROOM
• KITCHEN AND FAMILY ROOM
• ACCESS TO THE YARD
• OWNER'S SUITE
• WALK-IN CLOSETS

🏗️ New construction. The $301,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $374,366.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $302k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-947 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (21.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (31.2% below list).
• Recommended offer: $208k (31.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#92 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime D-, commute F.
• Lee County Schools (rural): math 31% / reading 39% proficiency, ranked #131 of 178 in NC (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tramway Elementary (math 45% / reading 47%, grade D-, #551 of 1,410 statewide, top 40%, 545 students, 47% FRL); Sanlee Middle School (math 32% / reading 43%, grade F, #256 of 475 statewide, top 55%, 809 students, 70% FRL); Southern Lee High School (math 43% / reading 46%, grade F, #352 of 535 statewide, top 68%, 1,234 students, 61% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 634 active listings in the ZIP; solid renter incomes; 602 units permitted in Lee County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($78k/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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Lee County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($284k) is reasonable based on typical stale-listing flexibility.

Recommended offer $207,671 (31.2% 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 88 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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 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: 0.55% ✗
• Cap rate: 3.26%
• Cash-on-cash: -10.84%
• DSCR: 0.52
• GRM: 15.0

CMA / ARV

• ARV (median comp): $374,366
• List price: $301,990
• Delta: -19.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Furley (homesite 38) St	0.45mi	3/2.5 (-1)	2,291 (-3%)	6mo	$324,990	$142	64
252 Glendale Cir	0.23mi	4/2.5	2,690 (+13%)	4mo	$365,000	$136	64
2908 Currituck Dr	0.35mi	4/2.0	2,120 (-11%)	2mo	$310,000	$146	62
277 Glendale Cir	0.19mi	4/3.5	2,691 (+13%)	4mo	$375,000	$139	61
118 Favored Ave	0.73mi	4/3.0	2,319 (-2%)	2mo	$325,990	$141	59
239 Faith Ave	0.72mi	4/2.5	2,442 (+3%)	9mo	$320,000	$131	54
243 Faith Ave	0.72mi	3/2.5 (-1)	2,289 (-4%)	3mo	$338,490	$148	53
126 Favored Ave	0.75mi	4/2.5	2,178 (-8%)	2mo	$330,000	$152	50
227 Faith Ave	0.72mi	4/3.0	2,491 (+5%)	10mo	$320,000	$128	48
351 Tormore Dr	0.58mi	5/3.0 (+1)	2,541 (+7%)	10mo	$349,990	$138	46
122 Favored Ave	0.74mi	4/3.0	2,696 (+14%)	5mo	$349,990	$130	37
234 Faith Ave	0.72mi	5/4.5 (+1)	2,533 (+7%)	7mo	$350,000	$138	36

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: -34.0%
• Equity multiple: -0.12×
• Total profit: $-116,939
• Equity at exit: $55,819

10-year hold

• IRR: -33.1%
• Equity multiple: -0.55×
• Total profit: $-162,361
• Equity at exit: $32,368

Cash invested: $104,823 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 50 active · 10 under contract
• Months of supply: 18.8 mo (5%/mo absorbed)
• Median asking: $328,995 ($155/sqft)
• Median days on market: 164 d
• This list price: 14% of active listings are priced below it
• ARV vs active asking: +2.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 27332

• Home prices YoY: -17.8%
• Rents YoY: 4.9%
• Active inventory: 634
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,077 medium
• Mortgage (P&I): −$1,963
• Tax est. 1.5%: −$468 /mo · $5,615/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $-947

Break-even live

Break-even rent $3,275

Max offer price $237,398

Occupancy floor —

Sensitivity live

Price	-10% $-688	-5% $-817	+0% $-947	+5% $-1,076	+10% $-1,205
Rent	-10% $-1,111	-5% $-1,029	+0% $-947	+5% $-865	+10% $-782
Rate	-1.0pp $-758	-0.5pp $-851	base $-947	+0.5pp $-1,044	+1.0pp $-1,142

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: $93,592
• Closing costs: $11,231
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: New construction plan
• Financial info: List price: $304,900

Exterior

• Parking: 2 parking spaces
• Utilities: Natural gas and electric service available
• Home design: Single-family plan (The McGinnis)Listed as 'Plan' inventory typeAddress: Sanford, NC (2919 Lemon Springs Dr)

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Heating & cooling: Natural gas, electric, and heat pump heatingCentral air conditioning
• Interior features: Open living area of approximately 2,372Plan: The McGinnis (new construction)

Listing history 50 events

1. 2026-08-08
   days on market $301,990 Active 88 DOM
2. 2026-08-07
   days on market $301,990 Active 87 DOM
3. 2026-08-06
   days on market $301,990 Active 86 DOM
4. 2026-08-05
   days on market $301,990 Active 85 DOM
5. 2026-08-04
   days on market $301,990 Active 84 DOM
6. 2026-08-03
   days on market $301,990 Active 83 DOM
7. 2026-07-31
   days on market $301,990 Active 80 DOM
8. 2026-07-30
   pricedays on market $301,990 Active 79 DOM
9. 2026-07-29
   days on market $294,900 Active 78 DOM
10. 2026-07-27
    days on market $294,900 Active 76 DOM
11. 2026-07-25
    days on market $294,900 Active 74 DOM
12. 2026-07-23
    days on market $294,900 Active 72 DOM
13. 2026-07-22
    days on market $294,900 Active 71 DOM
14. 2026-07-21
    days on market $294,900 Active 70 DOM
15. 2026-07-18
    days on market $294,900 Active 67 DOM
16. 2026-07-16
    days on market $294,900 Active 65 DOM
17. 2026-07-16
    days on market $294,900 Active 64 DOM
18. 2026-07-14
    days on market $294,900 Active 63 DOM
19. 2026-07-13
    days on market $294,900 Active 62 DOM
20. 2026-07-12
    days on market $294,900 Active 61 DOM
21. 2026-07-11
    days on market $294,900 Active 60 DOM
22. 2026-07-10
    days on market $294,900 Active 59 DOM
23. 2026-07-09
    days on market $294,900 Active 58 DOM
24. 2026-07-08
    days on market $294,900 Active 57 DOM
25. 2026-07-07
    days on market $294,900 Active 56 DOM
26. 2026-07-06
    days on market $294,900 Active 55 DOM
27. 2026-07-05
    days on market $294,900 Active 54 DOM
28. 2026-07-04
    days on market $294,900 Active 53 DOM
29. 2026-07-03
    days on market $294,900 Active 52 DOM
30. 2026-07-02
    days on market $294,900 Active 51 DOM
31. 2026-07-01
    days on market $294,900 Active 50 DOM
32. 2026-06-30
    days on market $294,900 Active 49 DOM
33. 2026-06-29
    days on market $294,900 Active 48 DOM
34. 2026-06-28
    days on market $294,900 Active 47 DOM
35. 2026-06-28
    days on market $294,900 Active 46 DOM
36. 2026-06-27
    days on market $294,900 Active 45 DOM
37. 2026-06-26
    pricedays on market $294,900 Active 44 DOM
38. 2026-06-23
    days on market $304,900 Active 41 DOM
39. 2026-06-21
    days on market $304,900 Active 40 DOM
40. 2026-06-19
    days on market $304,900 Active 38 DOM
41. 2026-06-18
    days on market $304,900 Active 37 DOM
42. 2026-06-17
    days on market $304,900 Active 36 DOM
43. 2026-06-16
    days on market $304,900 Active 35 DOM
44. 2026-06-15
    days on market $304,900 Active 34 DOM
45. 2026-06-14
    days on market $304,900 Active 32 DOM
46. 2026-06-13
    days on market $304,900 Active 31 DOM
47. 2026-06-10
    days on market $304,900 Active 29 DOM
48. 2026-06-09
    days on market $304,900 Active 28 DOM
49. 2026-06-08
    days on market $304,900 Active 27 DOM
50. 2026-06-07
    days on market $304,900 Active 26 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,921
• − Mortgage interest: −$20,970
• − Property taxes: −$5,615
• − Insurance: −$1,872
• − Repairs & maintenance: −$1,994
• − Management: −$1,994
• − Depreciation: −$10,891
• Taxable loss: −$18,415
• Est. tax savings @ 24.0%: +$4,420
• After-tax cash flow: $-6,939/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.

Condition & rehab AI · 6 photos

Excellent 100/100 None rehab

This two-story home is in excellent condition with no visible repairs or maintenance needed. It offers a great opportunity for an investor to add minor updates for a significant return on investment.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in high-traffic areas — Improves appearance and reduces maintenance ↑
• Both New kitchen appliances — Enhances functionality and appeal ↑
• Both New bathroom fixtures — Enhances functionality and appeal ↑

F Composite school gradezoned avg 39/100

Zoned Schools

Elementary J Glenn Edwards Elementary F NC #825/1,410 Nat'l #22,904/41,679 Middle Sanlee Middle School F NC #256/475 Nat'l #6,708/14,009 High Southern Lee High School F NC #352/535 Nat'l #6,890/17,239

Schools (NCES district)

• District: Lee County Schools
• NCES district ID: 3702560
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $45,300
• Composite: 29.87/100
• National rank: #6403
• State rank: #131 of 178 in NC

B Composite livability gradescore 72/100

Livability — Sanford

• Score: 72/100
• State rank: #92
• US rank: #6134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanford, NC
• County: Lee County · 63,008 people
• City population: 76,725
• Metro: Sanford, NC
• Population (ZIP): 36,947
• Household income: $78,447
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 8% of renters

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Population outlook (Lee County) Hauer SSP2

• Today (2025): 63,008 people
• By 2030: 64,443 · +2.3%
• By 2040: 66,898 · +6.2%
• By 2050: 68,310 · +8.4%
• By 2075: 70,920 · +12.6%
• By 2100: 70,402 · +11.7%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Hispanic / Latino 19% Black 16% Two or more races 11% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 4% Cuban 2%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 15%

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Political lean MEDSL · Lee

• 2024 margin: R (+17.5) · D 40.8% · R 58.3%
• 2008→2024 swing: -9.1pp toward R · 2008: -8.4pp · 2024: -17.5pp
• All cycles: 2024: R+17.5 2020: R+14.9 2016: R+13.2 2012: R+10.2 2008: R+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.61%
• Current HPI: 252.2719
• Rent YoY: ▲ 4.87%
• Metro: Sanford, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

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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

Property features AI

Finance

• Other: New construction plan
• Financial info: List price: $304,900

Exterior

• Parking: 2 parking spaces
• Utilities: Natural gas and electric service available
• Home design: Single-family plan (The McGinnis)Listed as 'Plan' inventory typeAddress: Sanford, NC (2919 Lemon Springs Dr)

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Heating & cooling: Natural gas, electric, and heat pump heatingCentral air conditioning
• Interior features: Open living area of approximately 2,372Plan: The McGinnis (new construction)