308 Bristol St · Lexington, NC 27292

$75,000

3 bd · 1.0 ba · 1,278 sqft · SingleFamily public records · 29 Days on market

Built 1900 0.27 ac lot

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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
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and updated home in Lexington offering 1 bedroom, 1 bathroom, plus 2 versatile bonus rooms upstairs—perfect for a home office, guest space, or hobby area! The kitchen, laundry room, and bathroom have all been thoughtfully updated, with new LVP flooring in the kitchen and laundry adding both style and durability. Enjoy a spacious backyard with a partial fence—ideal for outdoor entertaining, pets, or simply relaxing. We are currently in a multiple offer situation and seller is requesting all buyers submit their highest and best offers no later than Friday 5/22 @ 2pm. Please note the required closing date is 6/18/26.

Key facts

• Spacious backyard
• Updated home
• New lvp flooring

Tags

• UPDATED HOME
• VERSATILE BONUS ROOMS
• NEW LVP FLOORING
• SPACIOUS BACKYARD
• PARTIAL FENCE

Property features AI

Finance

• Other: No pool; No guest house
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Two-story house; Stick/site built residential structure; Built in 1900
• Construction: Vinyl siding construction
• Exterior features: Public-maintained road access; Lot approximately 0.27 acre

Interior

• Kitchen: Kitchen (15ft 7in x 12ft 2in); Electric water heater
• Bedrooms: Bedroom on second level (15ft 4in x 16ft 4in)
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating (natural gas); Window cooling units
• Interior features: Primary bedroom on main level; Crawl space foundation
• Laundry & utility: Main level laundry (15ft 8in x 5ft 5in)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.5% vs local median 3.5% in Lexington — 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 (#89 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D, crime F, amenities D-.
• Lexington City Schools (suburban): math 32% / reading 38% proficiency, ranked #136 of 178 in NC (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.4%/yr); 400 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 990 units permitted in Davidson County in 2024 (54 in 5+ unit buildings).
• This rent runs 31% of the median local income ($57k/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 $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Davidson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $75k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 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?
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: 1.97% ✓
• Cap rate: 17.54%
• Cash-on-cash: 40.18%
• DSCR: 2.79
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $222,372
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
715 Martin Luther King Jr Blvd	0.15mi	3/2.0	1,263 (-1%)	14mo	$228,999	$181	76
717 Martin Luther King Jr Blvd	0.15mi	3/2.0	1,200 (-6%)	10mo	$210,999	$176	71
713 Martin Luther King Jr Blvd	0.16mi	4/2.0 (+1)	1,376 (+8%)	15mo	$239,999	$174	59
304 Salem St	0.75mi	3/1.0	1,240 (-3%)	6mo	$90,000	$73	55
102 Theodore Ave	0.65mi	3/2.0	1,190 (-7%)	3mo	$212,000	$178	51
1207 Martin Luther King Jr Blvd	0.45mi	4/2.0 (+1)	1,422 (+11%)	2mo	$201,500	$142	49
319 E 3rd Ave Ext	0.65mi	3/2.0	1,400 (+10%)	3mo	$225,000	$161	48
193 Young Dr	0.64mi	3/2.5	1,430 (+12%)	5mo	$220,000	$154	40

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 · 1.37% rent growth · sell at horizon

5-year hold

• IRR: 34.8%
• Equity multiple: 2.44×
• Total profit: $30,239
• Equity at exit: $11,183

10-year hold

• IRR: 40.8%
• Equity multiple: 4.55×
• Total profit: $74,499
• Equity at exit: $6,485

Cash invested: $21,000 (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 27292

• Home prices YoY: -22.1%
• Rents YoY: 1.4%
• Active inventory: 400
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,474 high
• Mortgage (P&I): −$393
• Tax from tax record: −$37 /mo · $440/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $703

Break-even live

Break-even rent $584

Max offer price $75,000

Occupancy floor 47%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 London Ct Lexington, NC	1.0–4.0	1.0–1.5	875	$1,457	$1.66	14d	1	0.41mi
115 Converse Dr Lexington, NC	4.0	2.0	1684	$1,595	$0.95	14d	1	0.75mi
215 Agner Ln Lexington, NC	3.0	2.0	1150	$1,595	$1.39	21d	1	0.91mi
420 Salem St Unit H Lexington, NC	2.0	1.5	1100	$875	$0.80	19d	1	0.91mi
812 Fairview Dr Apt 450A Lexington, NC	2.0	1.5	976	$1,450	$1.49	23d	1	1.39mi
812 Fairview Dr Apt 200D Lexington, NC	2.0	1.5	976	$1,249	$1.28	21d	1	1.39mi
206 Abbotts Ave Lexington, NC	3.0	2.0	1660	$2,000	$1.20	21d	1	1.44mi

Listing history 14 events

1. 2026-06-14
   statusdays on market $75,000 Pending 29 DOM
2. 2026-06-10
   days on market $75,000 Due Diligence Period 27 DOM
3. 2026-06-09
   days on market $75,000 Due Diligence Period 26 DOM
4. 2026-06-08
   days on market $75,000 Due Diligence Period 25 DOM
5. 2026-06-07
   days on market $75,000 Due Diligence Period 24 DOM
6. 2026-06-05
   days on market $75,000 Due Diligence Period 21 DOM
7. 2026-06-03
   days on market $75,000 Due Diligence Period 20 DOM
8. 2026-06-02
   days on market $75,000 Due Diligence Period 19 DOM
9. 2026-06-01
   days on market $75,000 Due Diligence Period 18 DOM
10. 2026-05-31
    days on market $75,000 Due Diligence Period 17 DOM
11. 2026-05-31
    days on market $75,000 Due Diligence Period 16 DOM
12. 2026-05-23
    historical Due Diligence Period
13. 2026-05-14
    listed $75,000 Active
14. 2011-11-10
    soldstatus $25,000

ⓘ 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: $440 · $37/mo
• Projected year-2 tax: $615 · $51/mo
• Expected delta: +$175/yr (+$15/mo · 39.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $17,687
• − Mortgage interest: −$4,201
• − Property taxes: −$440
• − Insurance: −$375
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − Depreciation: −$2,182
• Taxable income: $7,659
• Est. tax owed @ 24.0%: −$1,838
• After-tax cash flow: $6,600/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: Lexington City Schools
• NCES district ID: 3702640
• Math proficiency: 32% ▲ 3.00%
• Reading proficiency: 38% ▲ 6.00%
• Median HH income: $27,758
• Composite: 28.2/100
• National rank: #6807
• State rank: #136 of 178 in NC

Livability — Lexington

• Score: 72/100
• State rank: #89
• US rank: #6051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lexington, NC
• County: Davidson County · 129,088 people
• City population: 79,578
• Metro: Winston-Salem, NC
• Population (ZIP): 40,311
• Household income: $57,264
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 1001.0

Population outlook (Davidson County) Hauer SSP2

• Today (2025): 167,156 people
• By 2030: 167,216 · +0.0%
• By 2040: 164,524 · -1.6%
• By 2050: 157,229 · -5.9%
• By 2075: 138,084 · -17.4%
• By 2100: 112,729 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 13% Two or more races 9% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 1% Slovak 1% Serbian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Davidson

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.1%
• 2008→2024 swing: -13.5pp toward R · 2008: -33.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+47.5 2016: R+49.4 2012: R+40.9 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.79%
• Current HPI: 267.074
• Rent YoY: ▲ 1.37%
• Metro: Winston-Salem, 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

+200.0% since first listed

3 events — show timeline

• 2026-05-23 Contingent — Triad MLS
• 2026-05-14 Listed $75,000 Triad MLS
• 2011-11-10 Sold (Public Records) $25,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $440 · +0.0% YoY. Source: county tax records.