4803 Tanglewood Oaks St · Raleigh, NC 27610

$220,000

3 bd · 2.5 ba · 1,352 sqft · Townhouse public records · 66 Days on market

Built 2000 1,307 sqft lot $90/mo HOA · 5% of rent

---

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 +12.6/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.5/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Offer deadline Monday by 5pm. Wonderful move in ready townhome! This 3 bedroom 2.5 bathroom townhome has new roof within 5 years, water heater in 2018, new dishwasher in 2022, new paint throughout 2023, new carpets on 2nd floor and stairs 2023! Spacious living room with gas fireplace, separate dining room and huge owners suite! Great location close to downtown Raleigh, HWY 440 and 540! Covered front porch, private back yard with patio and storage shed! This is a townhome you don't want to miss! For ?s contact list agent.

Key facts

• Wooded privacy
• Private driveway
• Gas fireplace

Tags

• PRIVATE DRIVEWAY
• WOODED PRIVACY
• LARGE LIVING ROOM
• GAS FIREPLACE

Property features AI

Finance

• HOA & community: HOA: Pindell Wilson; HOA fee $90 monthly; HOA includes grounds maintenance; HOA provides parking

Exterior

• Parking: 2 total parking spaces; 1 open parking space; Driveway; Additional parking
• Utilities: Public water; Public sewer
• Home design: Townhouse; Two levels; 2+ common walls
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built as a townhouse
• Exterior features: Street lights in community; Public maintained road

Interior

• Kitchen: Dishwasher; Free-standing electric range; Refrigerator; Exhaust fan
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: 2 full baths; 1 half bath
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Dining L; Entrance foyer; Storm door(s)
• Laundry & utility: In-unit washer and dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $220k.

Deal economics

• At list price, monthly cash flow is $-27 ($-327/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (14.9% below list).
• Recommended offer: $187k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.7% in Raleigh — 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 83/100 on livability (#10 in NC, #1,028 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• 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: Hodge Road Elementary (math 17% / reading 31%, grade F, #1,153 of 1,410 statewide, top 82%, 520 students, 70% FRL); Neuse River Middle (math 20% / reading 30%, grade F, #396 of 475 statewide, top 84%, 908 students, 77% FRL); Knightdale High (math 15% / reading 50%, grade F, #441 of 535 statewide, top 83%, 1,702 students, 63% FRL) — zoned schools average 70% FRL vs 30% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 56% district-wide (-29 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 flat; 594 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).
• This rent runs 33% of the median local income ($68k/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 $2k of loan paydown is wiped out by about $7k 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 66 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 26y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% 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 $187,169 (14.9% 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 66 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.85% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.53%
• DSCR: 0.98
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.2% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.31×
• Total profit: $-42,493
• Equity at exit: $32,803

10-year hold

• IRR: -21.1%
• Equity multiple: 0.04×
• Total profit: $-59,058
• Equity at exit: $19,022

Cash invested: $61,600 (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 27610

• Rents YoY: 0.2%
• Active inventory: 594
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,872 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$170 /mo · $2,046/yr
• Insurance: −$92
• HOA: −$90
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-27

Break-even live

Break-even rent $1,906

Max offer price $215,192

Occupancy floor 96%

Sensitivity live

Price	-10% $97	-5% $35	+0% $-27	+5% $-89	+10% $-152
Rent	-10% $-175	-5% $-101	+0% $-27	+5% $47	+10% $121
Rate	-1.0pp $84	-0.5pp $29	base $-27	+0.5pp $-84	+1.0pp $-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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5105 Jimmy Ridge Pl Raleigh, NC	2.0	2.5	1140	$1,550	$1.36	16d	1	0.06mi
1233 Garden Stone Dr Raleigh, NC	3.0	2.5	1650	$1,695	$1.03	25d	1	0.12mi
1253 Garden Stone Dr Raleigh, NC	3.0	3.0	1600	$1,795	$1.12	25d	1	0.15mi
1306 Garden Stone Dr Unit DR-1 Raleigh, NC	3.0	2.5	1433	$1,645	$1.15	23d	1	0.18mi
1732 Netherfield Ln Raleigh, NC	2.0	2.0	1036	$1,750	$1.69	19d	1	0.42mi
1208 Haybrook Ln Raleigh, NC	3.0	3.0	1300	$1,695	$1.30	25d	1	0.47mi
1208 Haybrook Ln Unit 102 Raleigh, NC	3.0	2.5	1300	$1,695	$1.30	25d	1	0.48mi
1822 Eva Mae Dr Raleigh, NC	4.0	2.5	1600	$1,950	$1.22	6d	1	0.57mi
5513 Bringle Ct Raleigh, NC	3.0	1.5	1155	$1,500	$1.30	25d	1	0.57mi
4319 Bethel Park Dr Raleigh, NC	3.0	2.5	1600	$1,895	$1.18	25d	1	0.65mi
5616 Bringle Ct Raleigh, NC	2.0	1.5	1300	$1,800	$1.38	25d	1	0.65mi
4317 Bethel Park Dr Raleigh, NC	3.0	2.5	1608	$1,800	$1.12	25d	1	0.65mi
5410 Talserwood Dr Raleigh, NC	3.0	1.5	1111	$1,650	$1.49	22d	1	0.67mi
2112 Walnut Bluffs Ln Raleigh, NC	3.0	2.5	1189	$1,495	$1.26	14d	1	0.79mi
330 Gilman Ln #101 Raleigh, NC	3.0	2.5	1680	$1,895	$1.13	25d	1	1.01mi
1615 Moineau Ln Raleigh, NC	4.0	2.5	1739	$2,085	$1.20	6d	1	1.01mi
311 Gilman Ln #106 Raleigh, NC	3.0	2.5	1680	$1,975	$1.18	4d	1	1.03mi
351 Gilman Ln #103 Raleigh, NC	3.0	3.0	1740	$1,695	$0.97	14d	1	1.07mi
351 Gilman Ln #103 Raleigh, NC	3.0	3.0	1740	$1,695	$0.97	25d	1	1.07mi
201 Coalinga Ln #106 Raleigh, NC	3.0	2.5	1752	$1,950	$1.11	25d	1	1.08mi
2540 Bluffs View Dr Raleigh, NC	1.0–3.0	1.0–2.0	993	$1,752	$1.76	25d	1	1.09mi
401 Coalinga Ln #108 Raleigh, NC	3.0	2.5	1740	$1,725	$0.99	25d	1	1.12mi
2816 Erinridge Rd Raleigh, NC	4.0	3.0	1522	$2,195	$1.44	25d	1	1.19mi
5021 Pufa St Raleigh, NC	3.0	2.5	1789	$1,995	$1.12	6d	1	1.20mi
5038 Kota St Raleigh, NC	3.0	2.5	1805	$1,995	$1.11	14d	1	1.29mi
2143 Caen St Raleigh, NC	3.0	2.5	1785	$1,995	$1.12	19d	1	1.29mi
4917 Oolite St Raleigh, NC	3.0	2.5	1687	$1,945	$1.15	19d	1	1.30mi
4906 Oolite St Raleigh, NC	3.0	3.0	1687	$1,945	$1.15	23d	1	1.34mi
2210 Caen St Raleigh, NC	3.0	2.5	1811	$2,000	$1.10	25d	1	1.40mi

HOA detail

• Monthly dues: $90 · $1,080/yr
• Likely covers: watergas

Listing history 38 events

1. 2026-06-21
   days on market $220,000 Active 66 DOM
2. 2026-06-18
   days on market $220,000 Active 63 DOM
3. 2026-06-17
   days on market $220,000 Active 62 DOM
4. 2026-06-16
   days on market $220,000 Active 61 DOM
5. 2026-06-15
   days on market $220,000 Active 60 DOM
6. 2026-06-13
   days on market $220,000 Active 58 DOM
7. 2026-06-13
   days on market $220,000 Active 57 DOM
8. 2026-06-09
   days on market $220,000 Active 54 DOM
9. 2026-06-08
   days on market $220,000 Active 53 DOM
10. 2026-06-07
    days on market $220,000 Active 52 DOM
11. 2026-06-05
    days on market $220,000 Active 49 DOM
12. 2026-06-03
    days on market $220,000 Active 48 DOM
13. 2026-06-02
    days on market $220,000 Active 47 DOM
14. 2026-06-01
    days on market $220,000 Active 46 DOM
15. 2026-05-31
    days on market $220,000 Active 45 DOM
16. 2026-04-16
    listed $220,000 Active
17. 2024-05-01
    historical $1,550
18. 2024-04-25
    listed $1,550
19. 2024-04-25
    historical $1,550
20. 2024-04-10
    listed $1,550
21. 2024-04-10
    historical $1,550
22. 2024-03-13
    listed $1,550
23. 2023-08-31
    soldstatus $255,000
24. 2023-08-30
    soldstatus $255,000 Closed 526-char remark

    Show marketing remark (526 chars)

    Offer deadline Monday by 5pm. Wonderful move in ready townhome! This 3 bedroom 2.5 bathroom townhome has new roof within 5 years, water heater in 2018, new dishwasher in 2022, new paint throughout 2023, new carpets on 2nd floor and stairs 2023! Spacious living room with gas fireplace, separate dining room and huge owners suite! Great location close to downtown Raleigh, HWY 440 and 540! Covered front porch, private back yard with patio and storage shed! This is a townhome you don't want to miss! For ?s contact list agent.

25. 2023-07-31
    historical Contingent 526-char remark

    Show marketing remark (526 chars)

    Offer deadline Monday by 5pm. Wonderful move in ready townhome! This 3 bedroom 2.5 bathroom townhome has new roof within 5 years, water heater in 2018, new dishwasher in 2022, new paint throughout 2023, new carpets on 2nd floor and stairs 2023! Spacious living room with gas fireplace, separate dining room and huge owners suite! Great location close to downtown Raleigh, HWY 440 and 540! Covered front porch, private back yard with patio and storage shed! This is a townhome you don't want to miss! For ?s contact list agent.

26. 2023-07-28
    listed $245,000 Active 526-char remark

    Show marketing remark (526 chars)

    Offer deadline Monday by 5pm. Wonderful move in ready townhome! This 3 bedroom 2.5 bathroom townhome has new roof within 5 years, water heater in 2018, new dishwasher in 2022, new paint throughout 2023, new carpets on 2nd floor and stairs 2023! Spacious living room with gas fireplace, separate dining room and huge owners suite! Great location close to downtown Raleigh, HWY 440 and 540! Covered front porch, private back yard with patio and storage shed! This is a townhome you don't want to miss! For ?s contact list agent.

27. 2009-10-01
    historical
28. 2009-04-20
    listed $108,000
29. 2009-04-01
    historical
30. 2009-03-31
    historical
31. 2009-03-31
    listed $110,000
32. 2008-08-16
    listed $110,000
33. 2004-01-24
    soldstatus $87,500
34. 2003-11-25
    historical
35. 2003-11-14
    listed $83,000
36. 2000-09-18
    soldstatus $94,900
37. 2000-07-02
    historical
38. 2000-05-17
    listed $94,900

ⓘ 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: $2,046 · $170/mo
• Projected year-2 tax: $2,046 · $170/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 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,460
• − Mortgage interest: −$12,323
• − Property taxes: −$2,046
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,797
• − Management: −$1,797
• − HOA: −$1,080
• − Depreciation: −$6,400
• Taxable loss: −$4,083
• Est. tax savings @ 24.0%: +$980
• After-tax cash flow: $653/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 — Raleigh

• Score: 83/100
• State rank: #10
• US rank: #1028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raleigh, NC
• County: Wake County · 1,216,256 people
• City population: 569,344
• Metro: Raleigh-Cary, NC
• Population (ZIP): 81,419
• Household income: $67,932
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 3499.0

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 0.59)
• Race & ethnicity: Black 59% Hispanic / Latino 20% White 15% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1% Dominican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 14% · Canada
• Languages at home: 77% English-only · Spanish 18% Arabic 1% French/Haitian/Cajun 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: ▼ -131.88%
• Current HPI: 237.704
• Rent YoY: ▲ 0.20%
• 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

+131.8% since first listed

23 events — show timeline

• 2026-04-16 Listed $220,000 TMLS
• 2024-05-01 Rental Removed $1,550 TMLS
• 2024-04-25 Listed for Rent $1,550 TMLS
• 2024-04-25 Rental Removed $1,550 APPFOLIO
• 2024-04-10 Listed for Rent $1,550 APPFOLIO
• 2024-04-10 Rental Removed $1,550 APPFOLIO
• 2024-03-13 Listed for Rent $1,550 APPFOLIO
• 2023-08-31 Sold (Public Records) $255,000 Public Records
• 2023-08-30 Sold (MLS) $255,000 TMLS
• 2023-07-31 Contingent — TMLS
• 2023-07-28 Listed $245,000 TMLS
• 2009-10-01 Listing Removed — TMLS
• 2009-04-20 Listed $108,000 TMLS
• 2009-04-01 Listing Removed — TMLS
• 2009-03-31 Listing Removed — TMLS
• 2009-03-31 Listed $110,000 TMLS
• 2008-08-16 Listed $110,000 TMLS
• 2004-01-24 Sold (MLS) $87,500 TMLS
• 2003-11-25 Listing Removed — TMLS
• 2003-11-14 Listed $83,000 TMLS
• 2000-09-18 Sold (MLS) $94,900 TMLS
• 2000-07-02 Listing Removed — TMLS
• 2000-05-17 Listed $94,900 TMLS

Property tax history

+5.1%/yr

Latest (2025): $2,046 · +4.4% YoY. Source: county tax records.