CashFlowRE
Sign in Sign up
1321-302 Park Glen Dr Bldg 8j
D+ Composite 45.35
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).

  • ARV discount +10.4/15.0
  • Cash flow +9.6/30.0
  • Schools +6.5/10.0
  • 1% rule +5.4/10.0
  • Livability +4.2/5.0
  • Condition / age +4.0/5.0
  • DSCR +2.7/10.0
  • Rent growth +2.6/5.0
  • Appreciation +0.0/10.0

$145,000

1321-302 Park Glen Dr Bldg 8j · Raleigh, NC 27610
2 bd · 2.0 ba · 985 sqft · Townhouse · 224 Days on market
Built 1986 Good condition $147/sqft · 7% below area Est $155k · 7% under $286/mo HOA · 19% of rent ↓ 9% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Discover the perfect blend of modern style and unbeatable convenience in this beautifully updated 2-bedroom, 2-bathroom Raleigh condo! An exceptional opportunity for a first-time homebuyer, savvy investor, small family, or retiree, this home is perfectly positioned for an effortless lifestyle. Step inside to an inviting open floorplan highlighted by stylish and durable laminate flooring throughout. The updated kitchen features trendy butcher block countertops and a breakfast bar, creating an ideal space for entertaining that flows seamlessly into the living area.

Key facts

  • Private balcony
  • Walk-in closet
  • Open floorplan

Tags

OPEN FLOORPLANBUTCHER BLOCK COUNTERTOPSBREAKFAST BARPRIVATE BALCONYWALK-IN CLOSETACCESS TO I-440

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath townhouse listed at $145k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
  • To cash-flow at today's rent, offer at most $131k (9.8% below list).
  • Meets the 1% rule at list price ($2k rent vs $145k).
  • Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
  • Cap rate 5.5% vs local median 2.8% 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: Underwood Elementary (math 67% / reading 67%, grade B+, #120 of 1,410 statewide, top 9%, 381 students, 28% FRL); Martin Middle (math 53% / reading 66%, grade B, #48 of 475 statewide, top 11%, 958 students, 28% FRL); Enloe High (math 64% / reading 75%, grade B, #121 of 535 statewide, top 24%, 2,502 students, 27% FRL) — zoned schools at 27% FRL track the district average.
  • Market conditions: Rents flat; 922 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 74d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $4k 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 224 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $127,600 (12.0% 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 224 days. Have you received any prior offers? Is the seller open to a 12% 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
1.04% ✓
Cap rate
5.48%
Cash-on-cash
-2.91%
DSCR
0.87
GRM
8.0

CMA / ARV

ARV (median comp)
$155,124
List price
$145,000
Delta
-6.53%
Verdict
FAIR
Comps
20 within 1.0 mi
Show comp detail 5 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
1341 Park Glen Dr #204 0.05mi 2/2.0 1,012 (+3%) 12mo $130,000 $128 83
1320 Park Glen Drive Dr #204 0.06mi 2/2.0 1,012 (+3%) 14mo $140,000 $138 81
859 Dalewood Dr 0.14mi 2/1.5 1,024 (+4%) 18mo $193,000 $188 70
861 Dalewood Dr 0.13mi 2/1.5 1,047 (+6%) 16mo $188,000 $180 68
1320 Park Glen Dr #103 0.06mi 2/2.0 900 (-9%) 19mo $109,900 $122 67

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 · 0.2% rent growth · sell at horizon

5-year hold
IRR
-25.2%
Equity multiple
0.17×
Total profit
$-33,690
Equity at exit
$21,620
10-year hold
IRR
-38.6%
Equity multiple
-0.30×
Total profit
$-52,611
Equity at exit
$12,537

Cash invested: $40,600 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
4 active · 4 under contract
Months of supply
12.0 mo (8%/mo absorbed)
Median asking
$119,000 ($127/sqft)
Median days on market
161 d
This list price
75% of active listings are priced below it
ARV vs active asking
+24.0% above current asking $/sqft

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

ZIP-level market 27610

Rents YoY
0.2%
Active inventory
922
Price-to-rent
8.0×

Monthly cashflow live

Estimated rent
$1,506 high interval (Pro) →
Mortgage (P&I)
−$760
Tax est. 1.5%
−$181 /mo · $2,175/yr
Insurance
−$60
HOA
−$286
Vacancy / Maint / Mgmt
−$316
Net cashflow
$-98

Break-even live

Break-even rent $1,630
Max offer price $130,766
Occupancy floor —

Sensitivity live

Price -10% $2 -5% $-48 +0% $-98 +5% $-148 +10% $-199
Rent -10% $-217 -5% $-158 +0% $-98 +5% $-39 +10% $21
Rate -1.0pp $-25 -0.5pp $-61 base $-98 +0.5pp $-136 +1.0pp $-174

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
$36,250
Closing costs
$4,350
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
1321 Park Glen Dr Unit 1 Raleigh, NC 2.0 2.0 1000 $1,095 $1.09 10d 1 0.01mi
1341 Park Glen Dr #101 Raleigh, NC 2.0 2.0 912 $1,250 $1.37 119d 1 0.06mi
1320 Park Glen Dr Raleigh, NC 2.0 2.0 1012 $1,235 $1.22 7d 2 0.07mi
1330 Park Glen Dr #104 Raleigh, NC 2.0 2.0 1012 $1,145 $1.13 10d 1 0.07mi
1206 Downing Rd Raleigh, NC 1.0 1.0 1000 $705 $0.70 85d 1 0.10mi
817 Dalewood Dr Raleigh, NC 3.0 2.0 1110 $1,495 $1.35 10d 1 0.19mi
817 Dalewood Dr Raleigh, NC 3.0 2.0 1110 $1,595 $1.44 110d 1 0.19mi
1950 N Raleigh Blvd Unit C Raleigh, NC 2.0 2.0 1050 $1,249 $1.19 116d 1 0.21mi
1950 N Raleigh Blvd Apt E Raleigh, NC 2.0 2.0 1000 $1,245 $1.25 75d 1 0.21mi
2110 Birkhall St Raleigh, NC 2.0 1.0–2.0 929 $1,950 $2.10 10d 82 0.29mi
2110 Birkhall St Raleigh, NC 2.0 1.0–2.0 929 $2,200 $2.37 64d 88 0.29mi
1129 Marlborough Rd Raleigh, NC 3.0 2.0 1101 $2,050 $1.86 119d 1 0.39mi
2200 Glascock St Apt G Raleigh, NC 2.0 1.5 1100 $1,095 $1.00 88d 1 0.46mi
2317 Glascock St Raleigh, NC 2.0 1.0 820 $1,395 $1.70 86d 1 0.47mi
908 Brighton Rd Raleigh, NC 3.0 2.0 1025 $2,450 $2.39 6d 1 0.48mi
1806 Midwood Dr Raleigh, NC 2.0 1.0 950 $1,397 $1.47 10d 1 0.60mi
1806 Midwood Dr Raleigh, NC 2.0 1.0 950 $1,397 $1.47 4d 1 0.60mi
1806 Midwood Dr Apt C Raleigh, NC 2.0 1.0 950 $1,550 $1.63 117d 1 0.60mi
1806 Midwood Dr Apt D Raleigh, NC 2.0 1.0 950 $1,475 $1.55 117d 1 0.60mi
712 Hartford Rd Raleigh, NC 2.0 1.0 900 $1,450 $1.61 100d 1 0.60mi
808 Edmund St Unit B Raleigh, NC 1.0 1.0 720 $1,595 $2.22 119d 1 0.74mi
709 Highgate Pl Raleigh, NC 2.0 1.0 845 $1,287 $1.52 6d 1 0.77mi
714 Highgate Pl Raleigh, NC 1.0 1.0 553 $1,127 $2.04 10d 1 0.80mi
708 Highgate Pl Raleigh, NC 1.0 1.0 553 $1,097 $1.98 119d 1 0.80mi
712 Highgate Pl Raleigh, NC 1.0 1.0 553 $1,147 $2.07 119d 1 0.80mi
709 Hampstead Pl Raleigh, NC 2.0 1.0 845 $1,288 $1.52 6d 1 0.82mi
707 Hampstead Pl Raleigh, NC 2.0 1.0 845 $1,295 $1.53 10d 1 0.82mi
721 Hampstead Pl Raleigh, NC 1.0 1.0 553 $1,097 $1.98 74d 1 0.83mi
2420 Milburnie Rd Raleigh, NC 3.0 1.0 1042 $1,750 $1.68 82d 1 0.83mi
908 Chatham Ln Raleigh, NC 3.0 2.0 1107 $1,749 $1.58 10d 1 0.84mi
700 Hampstead Pl Raleigh, NC 1.0–2.0 1.0 699 $1,287 $1.84 5d 2 0.87mi
2434 Stevens Rd Raleigh, NC 3.0 1.0 1040 $1,895 $1.82 5d 1 0.92mi
2221 Iron Works Dr Raleigh, NC 2.0 1.0–2.0 803 $2,967 $3.69 100d 30 0.92mi
2221 Iron Works Dr Raleigh, NC 2.0 1.0–2.0 834 $2,505 $3.00 10d 7 0.92mi
2080 Brentmoor Dr Raleigh, NC 2.0 2.0 1028 $1,550 $1.51 4d 1 0.95mi
2080 Brentmoor Dr Raleigh, NC 1.0 1.0 790 $1,300 $1.65 10d 1 0.95mi
2080 Brentmoor Dr Raleigh, NC 1.0 1.0 735 $1,280 $1.74 80d 1 0.95mi
2080 Brentmoor Dr Raleigh, NC 1.0 1.0 735 $1,285 $1.75 6d 1 0.95mi
2080 Brentmoor Dr Raleigh, NC 2.0 2.0 1055 $1,625 $1.54 117d 1 0.95mi
2080 Brentmoor Dr Raleigh, NC 1.0 1.0 735 $1,325 $1.80 108d 1 0.95mi

Property features AI

Finance

Other
Unit identified as Building 8jCommunity features include street lights
HOA & community
Association (monthly fee)Association amenities include grounds and structure maintenanceAssociation fee paid monthly (fee covers grounds, structure and road maintenance)

Exterior

Parking
2 open parking spacesDriveway with concrete surface
Utilities
Public waterPublic sewer
Home design
Site-built propertyOne story
Construction
Masonite exteriorShingle roofSlab foundationBuilt as site-built construction
Exterior features
Balcony

Interior

Kitchen
Electric rangeDishwasher
Bedrooms
2 bedrooms (both on the main level)
Flooring
HardwoodLaminateVinyl
Bathrooms
2 full bathrooms
Heating & cooling
Electric heating (forced air and hot water)Central air conditioning (electric)
Interior features
Bathtub/shower combinationLiving/dining room combinationVaulted ceilingsWood-burning fireplace in the living room (1)
Laundry & utility
Washer and dryer includedLaundry room on the main levelElectric water heater

Listing history 48 events

  1. 2026-07-31
    days on market $145,000 Active 224 DOM
  2. 2026-07-30
    days on market $145,000 Active 222 DOM
  3. 2026-07-28
    days on market $145,000 Active 221 DOM
  4. 2026-07-26
    days on market $145,000 Active 219 DOM
  5. 2026-07-24
    days on market $145,000 Active 217 DOM
  6. 2026-07-23
    days on market $145,000 Active 216 DOM
  7. 2026-07-22
    days on market $145,000 Active 215 DOM
  8. 2026-07-21
    days on market $145,000 Active 214 DOM
  9. 2026-07-20
    days on market $145,000 Active 213 DOM
  10. 2026-07-18
    days on market $145,000 Active 211 DOM
  11. 2026-07-18
    days on market $145,000 Active 210 DOM
  12. 2026-07-16
    days on market $145,000 Active 209 DOM
  13. 2026-07-15
    days on market $145,000 Active 208 DOM
  14. 2026-07-14
    days on market $145,000 Active 207 DOM
  15. 2026-07-13
    days on market $145,000 Active 206 DOM
  16. 2026-07-13
    days on market $145,000 Active 205 DOM
  17. 2026-07-11
    days on market $145,000 Active 204 DOM
  18. 2026-07-10
    days on market $145,000 Active 203 DOM
  19. 2026-07-09
    days on market $145,000 Active 202 DOM
  20. 2026-07-07
    days on market $145,000 Active 200 DOM
  21. 2026-07-06
    days on market $145,000 Active 199 DOM
  22. 2026-07-03
    days on market $145,000 Active 196 DOM
  23. 2026-07-02
    days on market $145,000 Active 195 DOM
  24. 2026-07-01
    days on market $145,000 Active 194 DOM
  25. 2026-06-30
    days on market $145,000 Active 193 DOM
  26. 2026-06-30
    days on market $145,000 Active 192 DOM
  27. 2026-06-28
    days on market $145,000 Active 191 DOM
  28. 2026-06-27
    days on market $145,000 Active 190 DOM
  29. 2026-06-27
    days on market $145,000 Active 189 DOM
  30. 2026-06-25
    days on market $145,000 Active 187 DOM
  31. 2026-06-22
    days on market $145,000 Active 185 DOM
  32. 2026-06-21
    days on market $145,000 Active 184 DOM
  33. 2026-06-18
    days on market $145,000 Active 181 DOM
  34. 2026-06-17
    days on market $145,000 Active 180 DOM
  35. 2026-06-16
    days on market $145,000 Active 179 DOM
  36. 2026-06-15
    days on market $145,000 Active 178 DOM
  37. 2026-06-13
    days on market $145,000 Active 176 DOM
  38. 2026-06-13
    days on market $145,000 Active 175 DOM
  39. 2026-06-09
    days on market $145,000 Active 172 DOM
  40. 2026-06-08
    days on market $145,000 Active 171 DOM
  41. 2026-06-07
    days on market $145,000 Active 170 DOM
  42. 2026-06-05
    days on market $145,000 Active 167 DOM
  43. 2026-06-03
    days on market $145,000 Active 166 DOM
  44. 2026-06-02
    days on market $145,000 Active 165 DOM
  45. 2026-06-01
    days on market $145,000 Active 164 DOM
  46. 2026-05-31
    days on market $145,000 Active 163 DOM
  47. 2026-03-04
    price $145,000
  48. 2025-12-19
    listed $160,000 Active

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

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 ≥106°F today · 16 d/yr by 30 yrs out
  • 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
  • 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$18,071
− Mortgage interest
−$8,122
− Property taxes
−$2,175
− Insurance
−$725
− Repairs & maintenance
−$1,446
− Management
−$1,446
− HOA
−$3,432
− Depreciation
−$4,218
Taxable loss
−$3,493
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$838
After-tax cash flow
$-342/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 · 10 photos

Good 80/100 Cosmetic rehab Est. rehab $4,925–$14,775 screening

This updated 2-bedroom, 2-bathroom townhouse in Raleigh is in good condition with a fresh paint job and updated kitchen. It offers a good investment opportunity with potential for increased value through exterior painting and landscaping.

Value-add opportunities

  • Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value. ↑
  • Both Landscaping — A well-maintained and landscaped exterior can enhance both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 65/100

Zoned Schools

Elementary Underwood Elementary B+ NC #120/1,410 Nat'l #4,366/41,679 Middle Martin Middle B NC #48/475 Nat'l #1,836/14,009 High Enloe High B NC #121/535 Nat'l #2,167/17,239

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
A Composite livability gradescore 83/100

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 · 1,293,152 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
16% of renters

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
—

Price history

-9.4% since first listed
2 events — show timeline
  • 2026-03-04 Price Changed $145,000 TMLS
  • 2025-12-19 Listed $160,000 TMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…