466 W Forest Oaks Dr · Sanford, NC 27330

$150,000

2 bd · 1.0 ba · 1,324 sqft · SingleFamily public records · 251 Days on market

Built 1972 0.84 ac lot Est $199k · 24% under

---

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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.6/10.0
• 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 MLS

Add this to your rental portfolio or keep it as your own. Great potential and large backyard.

Key facts

• Privacy
• Fenced side yard
• Mature trees

Tags

• OVER THREE-QUARTERS OF AN ACRE
• FENCED SIDE YARD
• MATURE TREES
• PRIVACY

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Holding tank or septic for sewer
• Home design: Single-family residence; One story
• Construction: Brick construction
• Exterior features: Covered porch; Partial privacy fencing; Cleared lot

Interior

• Kitchen: Dishwasher; Free-standing refrigerator; Microwave; Refrigerator
• Bedrooms: Total rooms: 6; Basement: Crawl space
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced-air heating
• Interior features: Dishwasher; Free-standing refrigerator; Microwave; Refrigerator; No fireplace
• Laundry & utility: Has heating

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $316 ($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 8.8% 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); East Lee Middle (math 21% / reading 37%, grade F, #350 of 475 statewide, top 74%, 531 students, 71% FRL); Lee County High (math 39% / reading 44%, grade F, #381 of 535 statewide, top 72%, 1,508 students, 60% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 528 active listings in the ZIP; 602 units permitted in Lee County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% 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 $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $75k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 46% 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 $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 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 1972 — 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 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?
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 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: 1.06% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $198,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6704 Deep River Rd	0.39mi	3/2.0 (+1)	1,224 (-8%)	12mo	$183,300	$150	50

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: -0.9%
• Equity multiple: 0.96×
• Total profit: $-1,472
• Equity at exit: $22,365

10-year hold

• IRR: 10.3%
• Equity multiple: 1.86×
• Total profit: $36,050
• 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 27330

• Home prices YoY: -19.4%
• Rents YoY: 4.7%
• Active inventory: 528
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$96 /mo · $1,153/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $316

Break-even live

Break-even rent $1,196

Max offer price $150,000

Occupancy floor 75%

Sensitivity live

Price	-10% $401	-5% $359	+0% $316	+5% $274	+10% $232
Rent	-10% $190	-5% $253	+0% $316	+5% $380	+10% $443
Rate	-1.0pp $392	-0.5pp $355	base $316	+0.5pp $278	+1.0pp $238

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: —

Listing history 21 events

1. 2026-06-05
   days on market $150,000 Active 251 DOM
2. 2026-06-03
   days on market $150,000 Active 250 DOM
3. 2026-06-02
   days on market $150,000 Active 249 DOM
4. 2026-06-01
   days on market $150,000 Active 248 DOM
5. 2026-05-31
   days on market $150,000 Active 247 DOM
6. 2026-05-30
   days on market $150,000 Active 246 DOM
7. 2026-03-03
   price $150,000
8. 2026-01-27
   price $175,000
9. 2025-12-04
   price $199,999
10. 2025-10-27
    price $210,000
11. 2025-09-26
    listed $225,000 Active
12. 2022-12-16
    soldstatus $117,000
13. 2021-11-16
    soldstatus $109,900 Closed 93-char remark

    Show marketing remark (93 chars)

    Add this to your rental portfolio or keep it as your own. Great potential and large backyard.

14. 2021-11-16
    soldstatus $109,900 93-char remark

    Show marketing remark (93 chars)

    Add this to your rental portfolio or keep it as your own. Great potential and large backyard.

15. 2021-11-16
    soldstatus $109,900 93-char remark

    Show marketing remark (93 chars)

    Add this to your rental portfolio or keep it as your own. Great potential and large backyard.

16. 2021-11-16
    soldstatus $80,000

    Show marketing remark (93 chars)

    Add this to your rental portfolio or keep it as your own. Great potential and large backyard.

17. 2021-11-05
    status Pending 93-char remark

    Show marketing remark (93 chars)

    Add this to your rental portfolio or keep it as your own. Great potential and large backyard.

18. 2021-10-23
    listed $119,000 Active 93-char remark

    Show marketing remark (93 chars)

    Add this to your rental portfolio or keep it as your own. Great potential and large backyard.

19. 2021-10-23
    listed $119,000 93-char remark

    Show marketing remark (93 chars)

    Add this to your rental portfolio or keep it as your own. Great potential and large backyard.

20. 2021-10-12
    listed $119,000 93-char remark

    Show marketing remark (93 chars)

    Add this to your rental portfolio or keep it as your own. Great potential and large backyard.

21. 2013-09-12
    soldstatus $49,000

ⓘ 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: $1,153 · $96/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$77/yr (+$6/mo · 6.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 46% 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: $19,164
• − Mortgage interest: −$8,402
• − Property taxes: −$1,153
• − Insurance: −$750
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$4,364
• Taxable income: $1,429
• Est. tax owed @ 24.0%: −$343
• After-tax cash flow: $3,454/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

• 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

+206.1% since first listed

15 events — show timeline

• 2026-03-03 Price Changed $150,000 LPRMLS
• 2026-01-27 Price Changed $175,000 LPRMLS
• 2025-12-04 Price Changed $199,999 LPRMLS
• 2025-10-27 Price Changed $210,000 LPRMLS
• 2025-09-26 Listed $225,000 LPRMLS
• 2022-12-16 Sold (Public Records) $117,000 Public Records
• 2021-11-16 Sold (Public Records) $80,000 Public Records
• 2021-11-16 Sold (MLS) $109,900 LPRMLS
• 2021-11-16 Sold (MLS) $109,900 AMLSNC
• 2021-11-16 Sold (MLS) $109,900 TMLS
• 2021-11-05 Pending — TMLS
• 2021-10-23 Listed $119,000 AMLSNC
• 2021-10-23 Listed $119,000 TMLS
• 2021-10-12 Listed $119,000 LPRMLS
• 2013-09-12 Sold (Public Records) $49,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,153 · +0.4% YoY. Source: county tax records.