209 Lee St · Oxford, NC 27565

$120,000

3 bd · 1.0 ba · 1,086 sqft · SingleFamily public records · 6 Days on market

Built 1950 0.27 ac lot Est $213k · 44% under

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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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.7/10.0
• Livability +2.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming brick home conveniently located in Oxford featuring 3 bedrooms and 1 bathroom. This property offers a functional layout, spacious yard, and great potential for a first-time homebuyer, investor, or someone looking to add their personal touch. Conveniently located near downtown Oxford, shopping, dining, and major roadways. Sold as-is.

Key facts

• 0.27 acre lot
• Built 1950
• Listed 6 days

Property features AI

Finance

• Other: Lot approximately 0.27 acres
• HOA & community: No association

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Sewer connected; Cable available
• Home design: One-story house; Fixer condition
• Construction: Brick construction; Shingle roof; Combination foundation; Built as a house
• Exterior features: City street frontage; Public maintained road

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Window unit(s) for cooling
• Interior features: Bathtub/shower combination; Eat-in kitchen; Has basement (crawl space)
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.8% vs local median 2.7% in Oxford — 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 57/100 on livability (#610 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Granville County Schools (rural): math 28% / reading 36% proficiency, ranked #137 of 178 in NC (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northern Granville Middle (math 17% / reading 28%, grade F, #410 of 475 statewide, top 87%, 525 students, 82% FRL) — zoned schools average 82% FRL vs 50% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 257 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 428 units permitted in Granville County in 2024 (120 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $120,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.07% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $212,856
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 Lanier St	0.11mi	3/1.0	1,105 (+2%)	1mo	$210,000	$190	91
511 Broad St	0.38mi	3/2.0	1,224 (+13%)	5mo	$267,500	$219	53
120 Clement Ave	0.40mi	3/2.0	1,210 (+11%)	7mo	$249,900	$207	52
124 W College St	0.64mi	3/1.0	1,002 (-8%)	15mo	$221,450	$221	45
217 Clement Ave	0.48mi	3/2.0	1,000 (-8%)	20mo	$184,000	$184	43
415 Cherry St	0.67mi	3/1.0	978 (-10%)	15mo	$50,000	$51	40
202 Delacroix St	0.73mi	2/1.0 (-1)	1,016 (-6%)	14mo	$230,000	$226	38
306 Coleman St	0.56mi	3/2.0	1,245 (+15%)	10mo	$220,000	$177	38
815 Goshen St	0.71mi	3/2.0	1,198 (+10%)	10mo	$235,000	$196	37
215 E Quailridge Rd	0.72mi	3/2.0	1,240 (+14%)	21mo	$240,000	$194	21

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: -2.8%
• Equity multiple: 0.90×
• Total profit: $-3,488
• Equity at exit: $17,892

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $17,454
• Equity at exit: $10,375

Cash invested: $33,600 (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 27565

• Active inventory: 257
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,286 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $251

Break-even live

Break-even rent $968

Max offer price $120,000

Occupancy floor 75%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 College St Unit A Oxford, NC	2.0	1.0	900	$1,350	$1.50	23d	1	0.26mi
228 Wilmington Ave Unit 230 Oxford, NC	2.0	1.5	992	$995	$1.00	23d	1	1.29mi

Listing history 7 events

1. 2026-06-08
   statusdays on market $120,000 Pending 6 DOM
2. 2026-06-07
   days on market $120,000 Active 5 DOM
3. 2026-06-05
   days on market $120,000 Active 2 DOM
4. 2026-06-02
   statusdays on market $120,000 Active 1 DOM
5. 2026-06-01
   days on market $120,000 Coming Soon 6 DOM
6. 2026-05-31
   days on market $120,000 Coming Soon 5 DOM
7. 2026-05-26
   historical $120,000

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,028 · $86/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,429
• − Mortgage interest: −$6,722
• − Property taxes: −$1,028
• − Insurance: −$600
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$3,491
• Taxable income: $1,120
• Est. tax owed @ 24.0%: −$269
• After-tax cash flow: $2,741/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: Granville County Schools
• NCES district ID: 3701800
• Math proficiency: 28% ▼ -1.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $49,713
• Composite: 27.81/100
• National rank: #6887
• State rank: #137 of 178 in NC

Livability — Oxford

• Score: 57/100
• State rank: #610
• US rank: #22195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oxford, NC
• Population (ZIP): 23,658

Population outlook (Granville County) Hauer SSP2

• Today (2025): 60,753 people
• By 2030: 61,381 · +1.0%
• By 2040: 61,861 · +1.8%
• By 2050: 61,261 · +0.8%
• By 2075: 59,948 · -1.3%
• By 2100: 55,273 · -9.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 50% Black 39% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Granville

• 2024 margin: Lean R (+9.4) · D 44.8% · R 54.2%
• 2008→2024 swing: -16.0pp toward R · 2008: 6.6pp · 2024: -9.4pp
• All cycles: 2024: R+9.4 2020: R+6.6 2016: R+2.5 2012: D+4.6 2008: D+6.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.56%
• Current HPI: 209.2788
• Rent YoY: —
• Metro: —
• 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

• 2026-05-26 Coming Soon $120,000 TMLS

Property tax history

+2.4%/yr

Latest (2025): $1,028 · +1.7% YoY. Source: county tax records.