604 S Main St · Louisburg, NC 27549

$79,900

3 bd · 1.0 ba · 1,474 sqft · SingleFamily · 8 Days on market

Built 1920 Poor condition 7,405 sqft lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in the heart of Louisburg! This 3 bed, 1 bath home presents an excellent opportunity for investors, flippers, or buyers looking to renovate and add value. Situated on a convenient in-town lot, the property features a 2 year old roof along with vinyl siding replaced 2 years ago. The home is in need of repairs and updates and is being sold strictly AS-IS, with seller making no repairs. Strong potential for renovation and resale or long-term rental investment. Conveniently located near downtown Louisburg, shopping, dining, and local amenities. The buyer is responsible for verifying all information. Handymen, you don't want to miss out on this opportunity!

Key facts

• 2 year old roof
• 7,405 sq ft lot
• Built 1920

Tags

• 2 YEAR OLD ROOF
• VINYL SIDING REPLACED

Property features AI

Finance

• Other: Lot approximately 0.17 acres (about 7,405 sq ft); Located on a paved, publicly maintained road; Directions: Drive southwest on South Main St.; property is on the left
• HOA & community: No association

Exterior

• Parking: No open parking
• Utilities: Public water; Public sewer
• Home design: Single-story house
• Construction: Frame construction; Vinyl siding; Wood siding; Architectural shingle roof; Built as a house (one level)
• Exterior features: No notable exterior features listed; Pillar/post/pier foundation

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Carpet; Tile; Wood; Other
• Bathrooms: One full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $681 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 16.5% vs local median 3.2% in Louisburg — 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 66/100 on livability (#289 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D-, amenities F, commute F.
• Franklin County Schools (rural): math 34% / reading 37% proficiency, ranked #128 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 441 active listings in the ZIP; 948 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Franklin County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% 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 $79,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.95% ✓
• Cap rate: 16.53%
• Cash-on-cash: 36.55%
• DSCR: 2.63
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $284,482
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 N Elm St	0.61mi	3/1.5	1,546 (+5%)	4mo	$231,000	$149	58
102 Big Dream Ct	0.65mi	3/2.0	1,536 (+4%)	2mo	$285,000	$186	58
105 Big Dream Ct	0.65mi	3/2.0	1,536 (+4%)	2mo	$299,990	$195	58
117 E Franklin St	0.43mi	3/1.0	1,335 (-9%)	8mo	$160,000	$120	57
106 Oak Dr	0.70mi	2/1.5 (-1)	1,509 (+2%)	1mo	$238,400	$158	55
201 Cedar St	0.43mi	3/2.0	1,335 (-9%)	8mo	$280,000	$210	54
202 Blue Sky Ln	0.74mi	3/2.0	1,536 (+4%)	1mo	$295,990	$193	54
812 Kenmore Ave	0.32mi	3/2.5	1,619 (+10%)	11mo	$285,900	$177	53
414 W Noble St	0.70mi	3/1.5	1,401 (-5%)	6mo	$235,900	$168	53
403 Ridley St	0.46mi	3/2.0	1,301 (-12%)	5mo	$297,000	$228	51
321 W Noble St	0.72mi	3/2.0	1,556 (+6%)	5mo	$380,000	$244	49
42 Rolling Banks Dr	0.60mi	3/2.0	1,552 (+5%)	14mo	$304,990	$197	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.4%
• Equity multiple: 2.36×
• Total profit: $30,474
• Equity at exit: $11,913

10-year hold

• IRR: 39.4%
• Equity multiple: 4.69×
• Total profit: $82,513
• Equity at exit: $6,908

Cash invested: $22,372 (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 27549

• Home prices YoY: -18.7%
• Active inventory: 441
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,561 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $681

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 51%

Sensitivity live

Price	-10% $737	-5% $709	+0% $681	+5% $654	+10% $626
Rent	-10% $558	-5% $620	+0% $681	+5% $743	+10% $805
Rate	-1.0pp $722	-0.5pp $702	base $681	+0.5pp $661	+1.0pp $640

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $79,900 Active 8 DOM
2. 2026-06-18
   days on market $79,900 Active 6 DOM
3. 2026-06-17
   days on market $79,900 Active 5 DOM
4. 2026-06-16
   days on market $79,900 Active 4 DOM
5. 2026-06-15
   days on market $79,900 Active 3 DOM
6. 2026-06-12
   remarks 677-char remark
7. 2026-06-12
   listed $79,900 Active 1 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,738
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,499
• − Management: −$1,499
• − Depreciation: −$2,324
• Taxable income: $7,342
• Est. tax owed @ 24.0%: −$1,762
• After-tax cash flow: $6,415/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 · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations and repairs to bring it up to a livable condition. The potential for resale and rental value is significant with the right updates.

Repairs flagged

• Major kitchen plumbing — Exposed plumbing
• Major bath plumbing — Exposed plumbing
• Major exterior vegetation — Overgrown vegetation
• Major flooring — Exposed subflooring
• Major interior walls/paint — Exposed subflooring
• Major systems — Exposed plumbing

Value-add opportunities

• Both Kitchen renovation — Modern kitchen design and appliances
• Both Bathroom renovation — Modern bathroom design and fixtures
• Both Exterior landscaping — Improved curb appeal and property value
• Both Flooring replacement — Improved comfort and aesthetics
• Both Interior wall and paint repair — Improved aesthetics and comfort
• Both System upgrades — Improved functionality and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen plumbing · Exposed plumbing	Major	$15,000–50,000
bath plumbing · Exposed plumbing	Major	$15,000–50,000
exterior vegetation · Overgrown vegetation	Major	$15,000–50,000
flooring · Exposed subflooring	Major	$15,000–50,000
interior walls/paint · Exposed subflooring	Major	$15,000–50,000
systems · Exposed plumbing	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Kitchen renovation — Modern kitchen design and appliances ↑
• Both Bathroom renovation — Modern bathroom design and fixtures ↑
• Both Exterior landscaping — Improved curb appeal and property value ↑
• Both Flooring replacement — Improved comfort and aesthetics ↑
• Both Interior wall and paint repair — Improved aesthetics and comfort ↑
• Both System upgrades — Improved functionality and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Franklin County Schools
• NCES district ID: 3701530
• Math proficiency: 34% ▬ 0.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $44,630
• Composite: 30.25/100
• National rank: #6286
• State rank: #128 of 178 in NC

Livability — Louisburg

• Score: 66/100
• State rank: #289
• US rank: #12287

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Louisburg, NC
• County: Franklin County · 64,885 people
• City population: 25,543
• Metro: Raleigh-Cary, NC
• Population (ZIP): 25,543
• Household income: $67,879
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 677.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 69,848 people
• By 2030: 72,480 · +3.8%
• By 2040: 76,682 · +9.8%
• By 2050: 78,993 · +13.1%
• By 2075: 82,888 · +18.7%
• By 2100: 80,784 · +15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 58% Black 25% Hispanic / Latino 13% Two or more races 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Serbian 1% Italian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 1%

Political lean MEDSL · Franklin

• 2024 margin: R (+13.6) · D 42.7% · R 56.3%
• 2008→2024 swing: -12.9pp toward R · 2008: -0.7pp · 2024: -13.6pp
• All cycles: 2024: R+13.6 2020: R+13.4 2016: R+11.7 2012: R+4.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.02%
• Current HPI: 225.8639
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-12 Listed $79,900 TMLS