106 -108 S 2nd St · Mebane, NC 27302

$217,000

6 bd · 4.4 ba · 2,136 sqft · MultiFamily · 42 Days on market

Built 1950 Good condition 5,227 sqft lot ↓ 19% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

DUPLEX, Investment Opportunity in Downtown Mebane! Bring your vision to this diamond in the rough! Located in a premier Mebane location--steps from the public library and the vibrant downtown social scene--this duplex is ready for a talented builder to take over. Unit 106 features impressive high ceilings and an open-concept living/dining area, with plans for 3 bedrooms and 2 bathrooms. Major progress has been made with the roof, some new windows, siding started, and ductwork for the furnace installed. Unit 108 is a blank canvas, already featuring new floor tile and a bathtub in the bathroom. The buyer will need to secure full permits from the city to complete the electrical, plumbing, and

Key facts

• Premier location
• Bathtub in bathroom
• New floor tile

Tags

• INVESTMENT OPPORTUNITY
• PREMIER LOCATION
• OPEN-CONCEPT LIVING
• HIGH CEILINGS
• NEW FLOOR TILE
• BATHTUB IN BATHROOM

Property features AI

Finance

• Other: Zoned residential; Lot approximately 0.12 acres; Living area listed as 2,136
• HOA & community: No homeowners association

Exterior

• Utilities: Public water; Public sewer; Electricity available; Water connected
• Home design: Duplex/Triplex building; One level
• Construction: Vinyl siding; Wood siding; Built as a multi-family structure
• Exterior features: Back yard fencing; Storage; Shingle roof

Interior

• Bedrooms: 6 bedrooms (all on the main level)
• Flooring: No finished flooring specified
• Bathrooms: 3 full bathrooms; 3 half bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Laundry closet; Storage
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.2-bath units multifamily listed at $217k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive. Per door: $408/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $217k).
• Recommended offer: $210k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.0% in Mebane — 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 73/100 on livability (#71 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute 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.
• Zoned schools: Eastern Alamance High (math 61% / reading 61%, grade C+, #202 of 535 statewide, top 39%, 1,256 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Zoned-school proficiency averages 61% at this address vs 35% district-wide (+26 pts) — the actual schools serving this property are materially stronger than the Alamance-Burlington Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.7%/yr); 443 active listings in the ZIP; solid renter incomes; 2,466 units permitted in Alamance County in 2024 (403 in 5+ unit buildings).
• This rent runs 44% of the median local income ($80k/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.
• 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 + 1.7% rent growth), your $61k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($210k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% 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 $210,490 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D 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: 1.35% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.10%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.67% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.21×
• Total profit: $12,923
• Equity at exit: $32,355

10-year hold

• IRR: 13.7%
• Equity multiple: 2.03×
• Total profit: $62,817
• Equity at exit: $18,762

Cash invested: $60,760 (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 27302

• Home prices YoY: -32.8%
• Rents YoY: 1.7%
• Active inventory: 443
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,930 high
• Mortgage (P&I): −$1,138
• Tax est. 1.5%: −$271 /mo · $3,255/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $815

Break-even live

Break-even rent $1,898

Max offer price $217,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.2	$2,930
Total (2 units)			$2,930

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: $54,250
• Closing costs: $6,510
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $217,000 Active 42 DOM
2. 2026-06-18
   days on market $217,000 Active 41 DOM
3. 2026-06-17
   days on market $217,000 Active 40 DOM
4. 2026-06-16
   days on market $217,000 Active 39 DOM
5. 2026-06-15
   days on market $217,000 Active 38 DOM
6. 2026-06-14
   days on market $217,000 Active 36 DOM
7. 2026-06-13
   days on market $217,000 Active 35 DOM
8. 2026-06-10
   days on market $217,000 Active 33 DOM
9. 2026-06-09
   days on market $217,000 Active 32 DOM
10. 2026-06-08
    days on market $217,000 Active 31 DOM
11. 2026-06-07
    days on market $217,000 Active 30 DOM
12. 2026-06-05
    days on market $217,000 Active 27 DOM
13. 2026-06-02
    days on market $217,000 Active 25 DOM
14. 2026-06-01
    days on market $217,000 Active 24 DOM
15. 2026-05-31
    days on market $217,000 Active 23 DOM
16. 2026-05-30
    days on market $217,000 Active 22 DOM
17. 2026-05-18
    price $217,000
18. 2026-04-30
    listed $267,000 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,160
• − Mortgage interest: −$12,155
• − Property taxes: −$3,255
• − Insurance: −$1,085
• − Repairs & maintenance: −$2,813
• − Management: −$2,813
• − Depreciation: −$6,313
• Taxable income: $6,726
• Est. tax owed @ 24.0%: −$1,614
• After-tax cash flow: $8,166/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

Good 75/100 Extensive rehab

This two-unit property is in good condition with extensive renovation needed. The roof, siding, and windows are new, and Unit 108 has new flooring and a bathtub. The electrical and plumbing work is required for habitability and safety.

Repairs flagged

• Major electrical — No electrical work visible
• Major plumbing — No plumbing work visible
• Major drywall — Exposed framing and drywall

Value-add opportunities

• Both Complete electrical and plumbing work — Essential for habitability and safety
• Both Paint interior walls and trim — Enhances curb appeal and interior aesthetics
• Both Install flooring in remaining units — Improves living space and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
electrical · No electrical work visible	Major	$15,000–50,000
plumbing · No plumbing work visible	Major	$15,000–50,000
drywall · Exposed framing and drywall	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Complete electrical and plumbing work — Essential for habitability and safety ↑
• Both Paint interior walls and trim — Enhances curb appeal and interior aesthetics ↑
• Both Install flooring in remaining units — Improves living space and rental value ↑

ⓘ 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: 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 — Mebane

• Score: 73/100
• State rank: #71
• US rank: #5365

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mebane, NC
• County: Alamance County · 173,369 people
• City population: 35,418
• Metro: Burlington, NC
• Population (ZIP): 35,418
• Household income: $79,819
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 1122.0

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 0.56)
• Race & ethnicity: White 63% Black 18% Hispanic / Latino 10% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 2% Romanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 86% English-only · Spanish 9% Other Asian/Pacific 1% Tagalog/Filipino 1%

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: ▼ -102.06%
• Current HPI: 208.8854
• Rent YoY: ▲ 1.67%
• 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

-18.7% since first listed

2 events — show timeline

• 2026-05-18 Price Changed $217,000 TMLS
• 2026-04-30 Listed $267,000 TMLS