500 N Gulf St · Sanford, NC 27330

$70,000

4 bd · 3.0 ba · 3,306 sqft · SingleFamily public records · 15 Days on market

Built 1948 10,454 sqft lot ↓ 33% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR SPECIAL in Sanford's Historic District! Spacious 4BR/4 1/2BA home (3,306 sq ft) built in 1948 with historic charm, now needs full renovation. Fire damage on upper level & black mold present; property sold strictly AS-IS. Excellent flip, rebuild, or restoration opportunity in sought-after neighborhood near downtown Sanford. Cash or renovation loan accepted; seller to make no repairs. Priced well below market to reflect condition. Bring your contractor & vision to unlock its full potential!

Key facts

• Full renovation
• Historic district
• Downtown sanford

Tags

• HISTORIC DISTRICT
• FULL RENOVATION
• RESTORATION OPPORTUNITY
• SOUGHT-AFTER NEIGHBORHOOD
• DOWNTOWN SANFORD

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.8% vs local median 3.6% in Sanford — 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 72/100 on livability (#92 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime D-, commute F.
• Lee County Schools (rural): math 31% / reading 39% proficiency, ranked #131 of 178 in NC (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tramway Elementary (math 45% / reading 47%, grade D-, #551 of 1,410 statewide, top 40%, 545 students, 47% FRL); West Lee Middle (math 25% / reading 39%, grade F, #317 of 475 statewide, top 68%, 607 students, 70% FRL); Southern Lee High School (math 43% / reading 46%, grade F, #352 of 535 statewide, top 68%, 1,234 students, 61% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 529 active listings in the ZIP; 602 units permitted in Lee County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($61k/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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lee County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask has dropped $50k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% 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 $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 3.17% ✓
• Cap rate: 25.78%
• Cash-on-cash: 69.59%
• DSCR: 4.10
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $469,452
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
619 Spring Ln	0.15mi	3/3.0 (-1)	3,294 (-0%)	17mo	$410,000	$124	73
505 Cross St	0.19mi	5/3.5 (+1)	3,072 (-7%)	0mo	$375,000	$122	72
615 Spring Ln	0.12mi	3/2.5 (-1)	3,285 (-1%)	19mo	$569,900	$173	70
133 Pisgah St	0.28mi	4/2.5	2,824 (-15%)	11mo	$400,000	$142	51
210 Pisgah St	0.74mi	4/2.5	2,824 (-15%)	1mo	$399,990	$142	38

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 · 4.66% rent growth · sell at horizon

5-year hold

• IRR: 71.2%
• Equity multiple: 4.31×
• Total profit: $64,938
• Equity at exit: $10,437

10-year hold

• IRR: 75.7%
• Equity multiple: 9.48×
• Total profit: $166,243
• Equity at exit: $6,052

Cash invested: $19,600 (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 27330

• Home prices YoY: -19.4%
• Rents YoY: 4.7%
• Active inventory: 529
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,221 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$221 /mo · $2,657/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $1,137

Break-even live

Break-even rent $782

Max offer price $70,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,176	-5% $1,156	+0% $1,137	+5% $1,117	+10% $1,097
Rent	-10% $961	-5% $1,049	+0% $1,137	+5% $1,224	+10% $1,312
Rate	-1.0pp $1,172	-0.5pp $1,154	base $1,137	+0.5pp $1,119	+1.0pp $1,100

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-02-01
   status Pending
2. 2026-01-27
   price $70,000
3. 2026-01-27
   status Active
4. 2026-01-01
   status Pending
5. 2025-12-22
   listed $120,000 Active
6. 2025-12-22
   historical
7. 2025-12-20
   listed $70,000 Active
8. 2025-11-22
   status Active
9. 2025-10-29
   status Pending
10. 2025-10-29
    historical
11. 2025-10-12
    status Active
12. 2025-09-13
    status Pending
13. 2025-08-31
    price $150,000
14. 2025-08-29
    status Active
15. 2025-08-25
    status Pending
16. 2025-07-14
    listed $185,000 Active
17. 2025-07-14
    historical
18. 1999-06-10
    soldstatus $105,000

ⓘ 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: $2,657 · $221/mo
• Projected year-2 tax: $2,657 · $221/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $26,648
• − Mortgage interest: −$3,921
• − Property taxes: −$2,657
• − Insurance: −$350
• − Repairs & maintenance: −$2,132
• − Management: −$2,132
• − Depreciation: −$2,036
• Taxable income: $13,420
• Est. tax owed @ 24.0%: −$3,221
• After-tax cash flow: $10,419/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: Lee County Schools
• NCES district ID: 3702560
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $45,300
• Composite: 29.87/100
• National rank: #6403
• State rank: #131 of 178 in NC

Livability — Sanford

• Score: 72/100
• State rank: #92
• US rank: #6134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanford, NC
• County: Lee County · 76,725 people
• City population: 76,725
• Metro: Sanford, NC
• Population (ZIP): 39,778
• Household income: $61,300
• Rent vs Own: 37.4% rent · 62.6% own
• Severe rent burden: 928.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 63,008 people
• By 2030: 64,443 · +2.3%
• By 2040: 66,898 · +6.2%
• By 2050: 68,310 · +8.4%
• By 2075: 70,920 · +12.6%
• By 2100: 70,402 · +11.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 54% Hispanic / Latino 21% Black 19% Two or more races 10% Asian 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Slovak 4% Serbian 2% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 81% English-only · Spanish 17%

Political lean MEDSL · Lee

• 2024 margin: R (+17.5) · D 40.8% · R 58.3%
• 2008→2024 swing: -9.1pp toward R · 2008: -8.4pp · 2024: -17.5pp
• All cycles: 2024: R+17.5 2020: R+14.9 2016: R+13.2 2012: R+10.2 2008: R+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.62%
• Current HPI: 302.3589
• Rent YoY: ▲ 4.66%
• Metro: Sanford, 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

-33.3% since first listed

18 events — show timeline

• 2026-02-01 Pending — TMLS
• 2026-01-27 Price Changed $70,000 TMLS
• 2026-01-27 Relisted — TMLS
• 2026-01-01 Pending — TMLS
• 2025-12-22 Listing Removed — TMLS
• 2025-12-22 Listed $120,000 TMLS
• 2025-12-20 Listed $70,000 TMLS
• 2025-11-22 Relisted — TMLS
• 2025-10-29 Pending — TMLS
• 2025-10-29 Listing Removed — TMLS
• 2025-10-12 Relisted — TMLS
• 2025-09-13 Pending — TMLS
• 2025-08-31 Price Changed $150,000 TMLS
• 2025-08-29 Relisted — TMLS
• 2025-08-25 Pending — TMLS
• 2025-07-14 Listed $185,000 TMLS
• 2025-07-14 Coming Soon — TMLS
• 1999-06-10 Sold (Public Records) $105,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,657 · +0.8% YoY. Source: county tax records.