1321-302 Park Glen Dr Bldg 8j · Raleigh, NC 27610

$145,000

2 bd · 2.0 ba · 985 sqft · Condo · 184 Days on market

Built 1986 $286/mo HOA · 19% of rent ↓ 9% since listing

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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 +10.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• DSCR +3.0/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

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. Both spacious bedrooms are flooded with natural light from large bay windows, and the master suite includes a generous walk-i

Key facts

• Private balcony
• Walk-in closet
• Open floorplan

Tags

• OPEN FLOORPLAN
• BUTCHER BLOCK COUNTERTOPS
• BREAKFAST BAR
• PRIVATE BALCONY
• WALK-IN CLOSET
• ACCESS TO I-440

Property features AI

Finance

• Other: Unit identified as Building 8j; Community features include street lights
• HOA & community: Association (monthly fee); Association amenities include grounds and structure maintenance; Association fee paid monthly (fee covers grounds, structure and road maintenance)

Exterior

• Parking: 2 open parking spaces; Driveway with concrete surface
• Utilities: Public water; Public sewer
• Home design: Site-built property; One story
• Construction: Masonite exterior; Shingle roof; Slab foundation; Built as site-built construction
• Exterior features: Balcony

Interior

• Kitchen: Electric range; Dishwasher
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating (forced air and hot water); Central air conditioning (electric)
• Interior features: Bathtub/shower combination; Living/dining room combination; Vaulted ceilings; Wood-burning fireplace in the living room (1)
• Laundry & utility: Washer and dryer included; Laundry room on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $-76 ($-917/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (7.6% 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 5.7% 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.
• Market conditions: Rents flat; 594 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 184 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 184 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 5.66%
• Cash-on-cash: -2.26%
• DSCR: 0.90
• GRM: 7.9

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: -24.1%
• Equity multiple: 0.20×
• Total profit: $-32,369
• Equity at exit: $21,620

10-year hold

• IRR: -34.8%
• Equity multiple: -0.23×
• Total profit: $-49,955
• 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.

Methodology + full state rankings →

ZIP-level market 27610

• Rents YoY: 0.2%
• Active inventory: 594
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,534 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$286
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $-76

Break-even live

Break-even rent $1,630

Max offer price $133,940

Occupancy floor 100%

Sensitivity live

Price	-10% $24	-5% $-26	+0% $-76	+5% $-127	+10% $-177
Rent	-10% $-198	-5% $-137	+0% $-76	+5% $-16	+10% $45
Rate	-1.0pp $-3	-0.5pp $-40	base $-76	+0.5pp $-114	+1.0pp $-152

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: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1341 Park Glen Dr #101 Raleigh, NC	2.0	2.0	912	$1,250	$1.37	24d	1	0.06mi
1330 Park Glen Dr #104 Raleigh, NC	2.0	2.0	1012	$1,295	$1.28	18d	1	0.07mi
817 Dalewood Dr Raleigh, NC	3.0	2.0	1110	$1,595	$1.44	15d	1	0.19mi
1950 N Raleigh Blvd Unit C Raleigh, NC	2.0	2.0	1050	$1,249	$1.19	21d	1	0.21mi
2110 Birkhall St Raleigh, NC	2.0	1.0–2.0	929	$2,200	$2.37	3d	93	0.29mi
1129 Marlborough Rd Raleigh, NC	3.0	2.0	1101	$2,050	$1.86	24d	1	0.39mi
2200 Glascock St Apt G Raleigh, NC	2.0	1.5	1100	$1,200	$1.09	24d	1	0.46mi
2317 Glascock St Raleigh, NC	2.0	1.0	820	$1,395	$1.70	24d	1	0.47mi
1806 Midwood Dr Apt C Raleigh, NC	2.0	1.0	950	$1,550	$1.63	22d	1	0.60mi
1806 Midwood Dr Apt D Raleigh, NC	2.0	1.0	950	$1,475	$1.55	22d	1	0.60mi
1806 Midwood Dr Raleigh, NC	2.0	1.0	950	$1,550	$1.63	5d	1	0.60mi
712 Hartford Rd Raleigh, NC	2.0	1.0	900	$1,450	$1.61	5d	1	0.60mi
808 Edmund St Unit B Raleigh, NC	1.0	1.0	720	$1,595	$2.22	24d	1	0.74mi
714 Highgate Pl Raleigh, NC	1.0	1.0	553	$1,147	$2.07	24d	1	0.80mi
708 Highgate Pl Raleigh, NC	1.0	1.0	553	$1,097	$1.98	24d	1	0.80mi
712 Highgate Pl Raleigh, NC	1.0	1.0	553	$1,147	$2.07	24d	1	0.80mi
700 Hampstead Pl Raleigh, NC	1.0	1.0	553	$1,122	$2.03	24d	3	0.87mi
2221 Iron Works Dr Raleigh, NC	2.0	1.0–2.0	803	$2,967	$3.69	5d	30	0.92mi
2221 Iron Works Dr Raleigh, NC	2.0	1.0–2.0	800	$2,572	$3.21	3d	10	0.92mi
2080 Brentmoor Dr Raleigh, NC	1.0	1.0	735	$1,325	$1.80	13d	1	0.95mi
2080 Brentmoor Dr Raleigh, NC	1.0	1.0	735	$1,325	$1.80	24d	1	0.95mi
2080 Brentmoor Dr Raleigh, NC	2.0	2.0	1055	$1,625	$1.54	22d	1	0.95mi
900 Canenaugh Dr #108 Raleigh, NC	2.0	2.0	1000	$1,550	$1.55	18d	1	1.18mi
900 E Six Forks Rd Raleigh, NC	1.0	1.0	895	$1,695	$1.89	24d	1	1.21mi
800 Moratuck Dr Raleigh, NC	1.0	2.0	750	$1,100	$1.47	24d	1	1.25mi
305 N State St Raleigh, NC	2.0	1.0	816	$1,350	$1.65	13d	1	1.33mi
105 Tall Rock Ct Raleigh, NC	1.0	1.0	1000	$965	$0.96	13d	1	1.33mi
105 Tall Rock Ct Raleigh, NC	1.0	1.0	1000	$950	$0.95	24d	1	1.33mi
2305 Hill St Raleigh, NC	2.0	2.0	1035	$1,550	$1.50	24d	1	1.47mi
2222 Bernard St Raleigh, NC	2.0	1.0	690	$1,375	$1.99	24d	1	1.47mi
102 N State St Unit 205 Raleigh, NC	2.0	1.5	800	$1,320	$1.65	24d	1	1.49mi
2922 Glenridge Dr Raleigh, NC	2.0	1.5	1104	$1,450	$1.31	24d	1	1.50mi
2922 Glenridge Dr Unit A Raleigh, NC	2.0	1.5	1104	$1,450	$1.31	21d	1	1.50mi

HOA detail condo

• Monthly dues: $286 · $3,432/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $145,000 Active 184 DOM
2. 2026-06-18
   days on market $145,000 Active 181 DOM
3. 2026-06-17
   days on market $145,000 Active 180 DOM
4. 2026-06-16
   days on market $145,000 Active 179 DOM
5. 2026-06-15
   days on market $145,000 Active 178 DOM
6. 2026-06-13
   days on market $145,000 Active 176 DOM
7. 2026-06-13
   days on market $145,000 Active 175 DOM
8. 2026-06-09
   days on market $145,000 Active 172 DOM
9. 2026-06-08
   days on market $145,000 Active 171 DOM
10. 2026-06-07
    days on market $145,000 Active 170 DOM
11. 2026-06-05
    days on market $145,000 Active 167 DOM
12. 2026-06-03
    days on market $145,000 Active 166 DOM
13. 2026-06-02
    days on market $145,000 Active 165 DOM
14. 2026-06-01
    days on market $145,000 Active 164 DOM
15. 2026-05-31
    days on market $145,000 Active 163 DOM
16. 2026-03-04
    price $145,000
17. 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

Taxation est. · year 1

• Rental income: $18,405
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − HOA: −$3,432
• − Depreciation: −$4,218
• Taxable loss: −$3,213
• Est. tax savings @ 24.0%: +$771
• After-tax cash flow: $-146/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

-9.4% since first listed

2 events — show timeline

• 2026-03-04 Price Changed $145,000 TMLS
• 2025-12-19 Listed $160,000 TMLS