202 W Holt St · Burlington, NC 27217

$299,000

None bd · None ba · 1,240 sqft · MultiFamily public records · 14 Days on market

Built 1910 5,270 sqft lot Est $224k · 33% over

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Why this score? — see what drove the C 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great Investment Opportunity. Quad on corner lot. All units are currently occupied. Long term renters 4+ years. All units are 1 bedroom/1 bath, kitchen and laundry. Tenants responsible for all utilities. 1 unit rent $320 other 3 units is $350

Key facts

• Three vacant units
• 4 unit quadplex
• 5,270 sq ft lot

Tags

• 4 UNIT QUADPLEX
• THREE VACANT UNITS
• IMMEDIATE RENTAL INCOME
• VALUE ADD OPPORTUNITY
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Finance

• Other: Lot approximately 0.121 acre
• HOA & community: Located in the High Point association area (no association fees)

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer; Electric power and heating; Electric water heater
• Home design: Residential income property; Quadruplex; Built in 1910; Existing structure
• Construction: Built in 1910
• Exterior features: Public water; Public sewer; Gravel parking

Interior

• Kitchen: Electric water heater
• Heating & cooling: Electric heating; Window air conditioning units; Electric water heater
• Interior features: No basement
• Laundry & utility: Washer/dryer connection

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $331/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Cap rate 11.6% 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+, schools F, crime 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.
• Market conditions: Rents rising (+1.1%/yr); 273 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,466 units permitted in Alamance County in 2024 (403 in 5+ unit buildings).
• At $3,950/mo this rent would consume 91% of the median local household income ($52k/yr) (locally 1040% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $84k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y 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.
• Current owner paid $155k; list at $299k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.99%
• DSCR: 1.85
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $224,440
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
916 - 918 Harris St	0.56mi	2/2.0	1,191 (-4%)	4mo	$215,000	$181	64
805 N Mebane St	0.52mi	2/2.0	1,289 (+4%)	15mo	$187,000	$145	56

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: 8.8%
• Equity multiple: 1.34×
• Total profit: $28,274
• Equity at exit: $44,582

10-year hold

• IRR: 16.4%
• Equity multiple: 2.23×
• Total profit: $103,006
• Equity at exit: $25,852

Cash invested: $83,720 (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: 25.2×

Monthly cashflow live

• Estimated rent: $3,950 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$103 /mo · $1,234/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$830
• Net cashflow: $1,325

Break-even live

Break-even rent $2,273

Max offer price $299,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,494	-5% $1,410	+0% $1,325	+5% $1,240	+10% $1,156
Rent	-10% $1,013	-5% $1,169	+0% $1,325	+5% $1,481	+10% $1,637
Rate	-1.0pp $1,476	-0.5pp $1,401	base $1,325	+0.5pp $1,248	+1.0pp $1,169

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,952
Total (4 units)			$3,950

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
306 N Ireland St Unit 306 Burlington, NC	2.0	1.0	807	$1,250	$1.55	22d	1	0.26mi
910 N Main St Unit A Burlington, NC	2.0	2.0	1100	$1,395	$1.27	14d	1	0.40mi
411 S Saint John St Burlington, NC	1.0	1.0	700	$1,100	$1.57	22d	1	0.55mi
1016 Grace Ave Burlington, NC	3.0	1.0	994	$1,245	$1.25	22d	1	0.58mi
511 W Davis St Burlington, NC	2.0	2.0	840	$2,395	$2.85	22d	1	0.60mi
516 Maple Ave Unit B Burlington, NC	1.0	1.0	869	$850	$0.98	22d	1	0.68mi
525 Lakeside Ave Burlington, NC	3.0	1.0	975	$1,300	$1.33	22d	1	0.80mi
321 E 5th St Burlington, NC	1.0	1.0	700	$850	$1.21	22d	1	0.81mi
805 S Broad St Burlington, NC	2.0	1.0	779	$1,100	$1.41	22d	1	0.81mi
830 Oxford Ln Burlington, NC	3.0	1.5	1137	$1,495	$1.31	14d	1	0.85mi
1055 Baldwin Ridge Rd Burlington, NC	1.0–3.0	1.0–2.0	1025	$1,512	$1.48	14d	19	0.89mi
709 Maryland Ave Burlington, NC	2.0	1.0	786	$1,225	$1.56	22d	1	0.89mi
824 Chandler Ave Burlington, NC	2.0	1.0	750	$1,275	$1.70	14d	1	0.92mi
654 Lakeside Ave Unit 654 Burlington, NC	2.0	1.0	830	$1,125	$1.36	14d	1	0.95mi
131 Carolina Ave Burlington, NC	2.0	1.0	900	$1,295	$1.44	22d	1	1.04mi
1013 Attica St Burlington, NC	2.0	1.0	855	$1,245	$1.46	14d	1	1.07mi
1106 Attica St Burlington, NC	3.0	2.0	1500	$1,750	$1.17	14d	1	1.11mi
102-A/B W Summit Ave Unit B Burlington, NC	1.0	1.0	750	$895	$1.19	14d	1	1.11mi
1128 Ava St Burlington, NC	2.0	1.0	900	$1,200	$1.33	14d	1	1.19mi
109 Craig St Unit 109-F Burlington, NC	2.0	1.0	750	$1,095	$1.46	14d	1	1.28mi
1322 Elm St Burlington, NC	3.0	1.5	848	$1,550	$1.83	14d	1	1.34mi
1331 Elm St Burlington, NC	3.0	1.0	950	$1,475	$1.55	22d	1	1.40mi
2076 Legacy Park Trl Burlington, NC	1.0–3.0	1.0–2.0	1025	$1,575	$1.54	22d	22	1.44mi

Listing history 12 events

1. 2026-06-19
   days on market $299,000 Active 14 DOM
2. 2026-06-18
   days on market $299,000 Active 13 DOM
3. 2026-06-17
   days on market $299,000 Active 12 DOM
4. 2026-06-16
   days on market $299,000 Active 11 DOM
5. 2026-06-15
   days on market $299,000 Active 10 DOM
6. 2026-06-14
   days on market $299,000 Active 8 DOM
7. 2026-06-13
   days on market $299,000 Active 7 DOM
8. 2026-06-10
   days on market $299,000 Active 5 DOM
9. 2026-06-09
   days on market $299,000 Active 4 DOM
10. 2026-06-08
    days on market $299,000 Active 3 DOM
11. 2026-06-07
    remarks 672-char remark
12. 2026-06-07
    listed $299,000 Active 2 DOM

ⓘ 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: $1,234 · $103/mo
• Projected year-2 tax: $2,452 · $204/mo
• Expected delta: +$1,218/yr (+$101/mo · 98.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $47,400
• − Mortgage interest: −$16,749
• − Property taxes: −$1,234
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,792
• − Management: −$3,792
• − Depreciation: −$8,698
• Taxable income: $11,640
• Est. tax owed @ 24.0%: −$2,794
• After-tax cash flow: $13,108/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

+182.3% since first listed

14 events — show timeline

• 2026-06-05 Listed $299,000 Triad MLS
• 2025-11-16 Price Changed $330,000 Triad MLS
• 2025-09-28 Price Changed $345,000 Triad MLS
• 2021-10-20 Sold (Public Records) $155,000 Public Records
• 2021-10-20 Sold (MLS) $155,000 Triad MLS
• 2021-10-20 Sold (MLS) $155,000 AMLSNC
• 2021-10-20 Sold (MLS) $155,000 TMLS
• 2021-09-24 Pending — Triad MLS
• 2021-09-24 Pending — AMLSNC
• 2021-09-22 Listed $150,000 Triad MLS
• 2021-09-22 Listed $150,000 AMLSNC
• 2021-09-22 Listed $150,000 TMLS
• 2004-02-27 Listing Removed — TMLS
• 2003-08-27 Listed $105,900 TMLS

Property tax history

+10.8%/yr

Latest (2025): $1,234 · +2.6% YoY. Source: county tax records.