412 Meredith St · High Point, NC 27260

$150,000

4 bd · 2.0 ba · 1,648 sqft · MultiFamily public records · 181 Days on market

Built 1959

---

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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• Built 1959
• Listed 181 days

Property features AI

Finance

• Other: Road dedication pending acceptance to public use
• HOA & community: No homeowner association; Located in the College Park subdivision

Exterior

• Parking: Assigned parking; On-street parking
• Utilities: Public sewer; Electric water heater
• Home design: Residential stick/site-built house; One story; Built in 1959; Existing structure
• Construction: Frame construction; Slab foundation
• Exterior features: Public water; No pool; Lot approximately .17 acres

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Primary bedroom on main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 4.0% in High Point — 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 77/100 on livability (#31 in NC, #3,084 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities D, employment D.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.6%/yr); 128 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).
• This rent runs 44% of the median local income ($42k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.04% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.67%
• DSCR: 1.43
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,816
• Equity at exit: $22,365

10-year hold

• IRR: 9.1%
• Equity multiple: 1.72×
• Total profit: $30,083
• Equity at exit: $12,969

Cash invested: $42,000 (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 27260

• Rents YoY: 3.6%
• Active inventory: 128
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,554 high
• Mortgage (P&I): −$787
• Tax from tax record: −$41 /mo · $487/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $338

Break-even live

Break-even rent $1,126

Max offer price $150,000

Occupancy floor 73%

Sensitivity live

Price	-10% $423	-5% $381	+0% $338	+5% $296	+10% $253
Rent	-10% $216	-5% $277	+0% $338	+5% $400	+10% $461
Rate	-1.0pp $414	-0.5pp $376	base $338	+0.5pp $299	+1.0pp $260

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1408 E Martin Luther King Jr Dr High Point, NC	3.0	2.0	1456	$1,450	$1.00	24d	1	0.10mi
1611 Brockett Ave High Point, NC	3.0	2.0	1280	$1,350	$1.05	24d	1	0.48mi
409 Woodrow Ave High Point, NC	4.0	2.0	1863	$2,650	$1.42	20d	1	1.14mi
1506 Hidden Creek Ter High Point, NC	3.0	2.0	1065	$1,395	$1.31	22d	1	1.22mi
1404 Waterloo Dr High Point, NC	3.0	2.0	1056	$1,620	$1.53	24d	1	1.44mi

Listing history 22 events

1. 2026-06-18
   days on market $150,000 Active 181 DOM
2. 2026-06-17
   days on market $150,000 Active 180 DOM
3. 2026-06-16
   days on market $150,000 Active 179 DOM
4. 2026-06-15
   days on market $150,000 Active 178 DOM
5. 2026-06-14
   days on market $150,000 Active 176 DOM
6. 2026-06-10
   days on market $150,000 Active 173 DOM
7. 2026-06-09
   days on market $150,000 Active 172 DOM
8. 2026-06-08
   days on market $150,000 Active 171 DOM
9. 2026-06-07
   days on market $150,000 Active 170 DOM
10. 2026-06-03
    days on market $150,000 Active 166 DOM
11. 2026-06-02
    days on market $150,000 Active 165 DOM
12. 2026-06-01
    days on market $150,000 Active 164 DOM
13. 2026-05-31
    days on market $150,000 Active 163 DOM
14. 2026-05-31
    days on market $150,000 Active 162 DOM
15. 2025-12-19
    listed $150,000 Active
16. 2020-05-06
    soldstatus $231,000
17. 2019-08-07
    price $74,000
18. 2018-11-09
    soldstatus $29,750 Sold
19. 2018-11-02
    soldstatus $47,000
20. 2018-11-02
    soldstatus $30,000
21. 2018-10-24
    status Pending
22. 2018-10-19
    listed $35,000 Active

ⓘ 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: $487 · $41/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$743/yr (+$62/mo · 152.7%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $18,654
• − Mortgage interest: −$8,402
• − Property taxes: −$487
• − Insurance: −$750
• − Repairs & maintenance: −$1,492
• − Management: −$1,492
• − Depreciation: −$4,364
• Taxable income: $1,666
• Est. tax owed @ 24.0%: −$400
• After-tax cash flow: $3,660/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: Guilford County Schools
• NCES district ID: 3701920
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $46,315
• Composite: 35.78/100
• National rank: #4842
• State rank: #99 of 178 in NC

Livability — High Point

• Score: 77/100
• State rank: #31
• US rank: #3084

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: High Point, NC
• County: Guilford County · 487,190 people
• City population: 102,450
• Metro: Greensboro-High Point, NC
• Population (ZIP): 25,299
• Household income: $42,308
• Rent vs Own: 57.5% rent · 42.5% own
• Severe rent burden: 1005.0

Population outlook (Guilford County) Hauer SSP2

• Today (2025): 584,596 people
• By 2030: 616,851 · +5.5%
• By 2040: 678,451 · +16.1%
• By 2050: 734,788 · +25.7%
• By 2075: 862,985 · +47.6%
• By 2100: 948,704 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 51% Hispanic / Latino 20% White 15% Asian 10% Two or more races 10%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Hispanic 1% Serbian 1% Italian 1%
• Foreign-born: 17% · Canada, Philippines, Dominican Republic
• Languages at home: 71% English-only · Spanish 17% Other Indo-European 4% Other Asian/Pacific 4%

Political lean MEDSL · Guilford

• 2024 margin: Strong D (+21.8) · D 60.2% · R 38.4% · Other 1.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 18.4pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+23.1 2016: D+20.0 2012: D+16.5 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.22%
• Current HPI: 159.2101
• Rent YoY: ▲ 3.64%
• Metro: Greensboro-High Point, 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

+328.6% since first listed

8 events — show timeline

• 2025-12-19 Listed $150,000 Triad MLS
• 2020-05-06 Sold (Public Records) $231,000 Public Records
• 2019-08-07 Price Changed $74,000 Triad MLS
• 2018-11-09 Sold (MLS) $29,750 Triad MLS
• 2018-11-02 Sold (Public Records) $30,000 Public Records
• 2018-11-02 Sold (Public Records) $47,000 Public Records
• 2018-10-24 Pending — Triad MLS
• 2018-10-19 Listed $35,000 Triad MLS

Property tax history

+6.2%/yr

Latest (2025): $487 · -0.8% YoY. Source: county tax records.