265 Broad St · Lexington, NC 27295

$170,000

3 bd · 1.0 ba · 1,406 sqft · SingleFamily public records · 13 Days on market

Built 1917 9,583 sqft lot Est $232k · 27% under

---

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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• 1% rule +3.2/10.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Perfect starter home for anyone looking to find a cute house to put some sweat equity into. Good bones just need a little TLC.

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 1917

Property features AI

Finance

• Other: Property type: Residential; Structure type: House; Built/existing structure
• HOA & community: No homeowners association; Subdivision: Erlanger Mills

Exterior

• Parking: Detached carport; Driveway with gravel; Two garage/carport spaces
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Residential stick/site-built house; One story; Built in 1917; Living room fireplace
• Construction: Vinyl siding construction; Crawl space foundation
• Exterior features: Fenced yard; Level, city lot; Storage building on the property; Publicly maintained road access

Interior

• Flooring: Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Heat pump for cooling; Forced air heating; Natural gas heating fuel
• Interior features: Primary bedroom located on the main level; Attic access only; Laminate flooring; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $79 ($945/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (18.4% below list).
• Recommended offer: $139k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: crime F, amenities D-, employment F.
• 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.
• Zoned schools: Pickett Elementary School (math 32% / reading 32%, grade F, #908 of 1,410 statewide, top 67%, 394 students, 99% FRL); Lexington Middle School (math 31% / reading 41%, grade F, #273 of 475 statewide, top 58%, 647 students, 100% FRL); Lexington Senior High School (math 27% / reading 52%, grade F, #393 of 535 statewide, top 75%, 928 students, 99% FRL) — zoned schools average 99% FRL vs 78% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 362 active listings in the ZIP; 4 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $170k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — 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 $138,745 (18.4% below list)

Questions for the listing agent

1. Built in 1917 — 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: 0.82% ✗
• Cap rate: 6.85%
• Cash-on-cash: 1.98%
• DSCR: 1.09
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $231,990
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
293 Winston Rd	0.05mi	3/1.0	1,350 (-4%)	1mo	$45,000	$33	90
238 Broad St	0.05mi	3/2.0	1,361 (-3%)	4mo	$134,700	$99	85
300 E 8th Street 8th St	0.31mi	3/2.0	1,320 (-6%)	7mo	$226,000	$171	65
105 Kenwood Ln	0.50mi	3/2.0	1,354 (-4%)	8mo	$270,000	$199	60
100 Kenwood Ln	0.56mi	2/2.0 (-1)	1,464 (+4%)	1mo	$218,000	$149	58
226 Westover Dr	0.54mi	2/2.0 (-1)	1,410 (+0%)	9mo	$192,000	$136	57
10 Woodhaven Dr	0.58mi	3/2.0	1,392 (-1%)	14mo	$248,000	$178	56
37 Mill St	0.13mi	2/2.0 (-1)	1,199 (-15%)	11mo	$65,000	$54	51
1514 Hampton St	0.67mi	3/2.0	1,468 (+4%)	8mo	$300,000	$204	50
409 Hillside Dr	0.70mi	3/2.0	1,511 (+8%)	18mo	$250,000	$165	36
300 Hillside Dr	0.69mi	2/2.0 (-1)	1,588 (+13%)	4mo	$215,000	$135	34
1 Hillside Dr	0.72mi	3/2.0	1,215 (-14%)	17mo	$227,000	$187	25

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.54×
• Total profit: $-22,090
• Equity at exit: $25,348

10-year hold

• IRR: -3.4%
• Equity multiple: 0.77×
• Total profit: $-10,943
• Equity at exit: $14,698

Cash invested: $47,600 (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 27295

• Home prices YoY: -15.2%
• Rents YoY: 3.4%
• Active inventory: 362
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,387 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$55 /mo · $660/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $79

Break-even live

Break-even rent $1,288

Max offer price $170,000

Occupancy floor 89%

Sensitivity live

Price	-10% $175	-5% $127	+0% $79	+5% $31	+10% $-17
Rent	-10% $-31	-5% $24	+0% $79	+5% $134	+10% $188
Rate	-1.0pp $164	-0.5pp $122	base $79	+0.5pp $35	+1.0pp $-10

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 White St Unit 1315-A Lexington, NC	2.0	1.5	900	$875	$0.97	16d	1	0.35mi
420 Salem St Unit H Lexington, NC	2.0	1.5	1100	$875	$0.80	21d	1	0.61mi
206 Crane Creek Way Lexington, NC	3.0	2.5	1588	$1,650	$1.04	25d	1	1.28mi
154 Hill Everhart Rd Lexington, NC	1.0–2.0	1.0–2.0	820	$1,100	$1.34	16d	4	1.49mi

Listing history 9 events

1. 2026-06-21
   days on market $170,000 Active 13 DOM
2. 2026-06-18
   days on market $170,000 Active 10 DOM
3. 2026-06-17
   days on market $170,000 Active 9 DOM
4. 2026-06-16
   days on market $170,000 Active 8 DOM
5. 2026-06-15
   days on market $170,000 Active 7 DOM
6. 2026-06-14
   days on market $170,000 Active 5 DOM
7. 2026-06-10
   days on market $170,000 Active 2 DOM
8. 2026-06-09
   remarks 126-char remark
9. 2026-06-09
   listed $170,000 Active 1 DOM

ⓘ 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: $660 · $55/mo
• Projected year-2 tax: $1,394 · $116/mo
• Expected delta: +$734/yr (+$61/mo · 111.1%)

ⓘ 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 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,649
• − Mortgage interest: −$9,523
• − Property taxes: −$660
• − Insurance: −$850
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$4,945
• Taxable loss: −$1,993
• Est. tax savings @ 24.0%: +$478
• After-tax cash flow: $1,423/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): 39,267
• Household income: $63,961
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 733.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 6% Black 6% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Slovak 2% Italian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 5% Other Asian/Pacific 1%

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: ▼ -46.39%
• Current HPI: 258.6557
• Rent YoY: ▲ 3.37%
• 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

+123.7% since first listed

5 events — show timeline

• 2026-06-08 Listed $170,000 Triad MLS
• 2025-02-25 Sold (Public Records) $50,000 Public Records
• 1997-08-01 Sold (Public Records) $38,000 Public Records
• 1997-08-01 Sold (Public Records) $38,000 Public Records
• 1997-08-01 Sold (Public Records) $76,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $660 · +0.0% YoY. Source: county tax records.