1901 New Bern Ave · Raleigh, NC 27610

$350,000

5 bd · 1.5 ba · 1,838 sqft · SingleFamily public records · 133 Days on market

Built 1950 0.42 ac lot

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Why this score? — see what drove the D 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 +15.1/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• DSCR +4.6/10.0
• Livability +4.2/5.0
• 1% rule +3.5/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OWNERS HAVE INFORMED LA THAT THIS PROPERTY NEEDS TO BE SOLD AND WILL CONSID ER ANY REASONABLE OFFER THIS INFO MAY BE PASSED ALONG TO YOUR CUSTOMERS CREDIT UNION APPRAISAL AT 142500 A BARGAIN!!!!!!!!!!!!!!!!!!! DIMENSIONS DO NOT INCLUDE EXPANDABLE ATTIC-SPACE FOR TWO MORE ROOMS. BASEMENT GARAGE---MAINTAINED AND INOUTSTANDING CONDITION

Key facts

• Wake medical center
• Corner lot
• Brick ranch

Tags

• BRICK RANCH
• CORNER LOT
• MINUTES FROM DOWNTOWN
• WAKE MEDICAL CENTER

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: 1-car garage; Driveway; 2 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Site-built home; Two levels
• Construction: Brick veneer and wood siding exterior; Shingle roof; Brick/mortar foundation; Built as site-built construction
• Exterior features: Corner lot location; Garage(s) on property

Interior

• Bedrooms: 5 bedrooms total, 3 on the main level
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Window unit(s) for cooling
• Interior features: Fireplace (1)
• Laundry & utility: Basement with interior entry (unfinished)

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $297k (15.2% below list).
• Recommended offer: $297k (15.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.7% in Raleigh — 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 83/100 on livability (#10 in NC, #1,028 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hunter Elementary (math 65% / reading 74%, grade A-, #95 of 1,410 statewide, top 7%, 607 students, 27% FRL); Ligon Middle (math 58% / reading 71%, grade A-, #30 of 475 statewide, top 7%, 893 students, 31% FRL); Enloe High (math 64% / reading 75%, grade B, #121 of 535 statewide, top 24%, 2,502 students, 27% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents flat; 594 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).
• At $2,969/mo this rent would consume 52% of the median local household income ($68k/yr) (locally 3499% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y ago; this cycle's ask has dropped $200k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $192k; list at $350k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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 $296,853 (15.2% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $720,496
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Sherrybrook Dr	0.41mi	4/3.0 (-1)	2,003 (+9%)	6mo	$785,000	$392	50
612 Delany Dr	0.60mi	4/2.5 (-1)	1,980 (+8%)	23mo	$690,000	$348	31

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 · 0.2% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.41×
• Total profit: $-57,763
• Equity at exit: $52,186

10-year hold

• IRR: -14.8%
• Equity multiple: 0.26×
• Total profit: $-72,930
• Equity at exit: $30,262

Cash invested: $98,000 (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 27610

• Rents YoY: 0.2%
• Active inventory: 594
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,969 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$251 /mo · $3,018/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$623
• Net cashflow: $112

Break-even live

Break-even rent $2,826

Max offer price $350,000

Occupancy floor 91%

Sensitivity live

Price	-10% $311	-5% $211	+0% $112	+5% $13	+10% $-86
Rent	-10% $-122	-5% $-5	+0% $112	+5% $230	+10% $347
Rate	-1.0pp $289	-0.5pp $201	base $112	+0.5pp $22	+1.0pp $-71

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1704 Sundial Pl Raleigh, NC	4.0	2.0	1554	$1,800	$1.16	5d	1	0.71mi
1105 Glascock St Unit 101 Raleigh, NC	4.0	4.0	1870	$2,997	$1.60	23d	1	0.92mi
1105 Glascock St Unit 102 Raleigh, NC	4.0	4.0	1870	$2,997	$1.60	4d	1	0.92mi
1000 Addison Pl Unit 101 Raleigh, NC	4.0	4.0	1870	$2,897	$1.55	25d	1	0.92mi
714 S State St Raleigh, NC	4.0	3.0	1980	$3,750	$1.89	25d	1	0.92mi

Listing history 24 events

1. 2026-05-31
   status $350,000 Pending 133 DOM
2. 2026-05-18
   price $350,000
3. 2026-05-01
   price $370,000
4. 2026-04-07
   price $399,000
5. 2026-03-20
   price $425,000
6. 2026-02-27
   price $450,000
7. 2026-02-05
   price $495,000
8. 2026-01-17
   listed $550,000 Active
9. 2025-08-11
   historical $975
10. 2025-05-14
    listed $975
11. 2025-04-17
    historical $975
12. 2025-04-14
    listed $975
13. 2024-11-05
    price $119,900 335-char remark

    Show marketing remark (335 chars)

    OWNERS HAVE INFORMED LA THAT THIS PROPERTY NEEDS TO BE SOLD AND WILL CONSID ER ANY REASONABLE OFFER THIS INFO MAY BE PASSED ALONG TO YOUR CUSTOMERS CREDIT UNION APPRAISAL AT 142500 A BARGAIN!!!!!!!!!!!!!!!!!!! DIMENSIONS DO NOT INCLUDE EXPANDABLE ATTIC-SPACE FOR TWO MORE ROOMS. BASEMENT GARAGE---MAINTAINED AND INOUTSTANDING CONDITION

14. 2019-05-02
    soldstatus $192,000
15. 2005-04-18
    soldstatus $122,000
16. 2001-01-02
    soldstatus $105,000 335-char remark

    Show marketing remark (335 chars)

    OWNERS HAVE INFORMED LA THAT THIS PROPERTY NEEDS TO BE SOLD AND WILL CONSID ER ANY REASONABLE OFFER THIS INFO MAY BE PASSED ALONG TO YOUR CUSTOMERS CREDIT UNION APPRAISAL AT 142500 A BARGAIN!!!!!!!!!!!!!!!!!!! DIMENSIONS DO NOT INCLUDE EXPANDABLE ATTIC-SPACE FOR TWO MORE ROOMS. BASEMENT GARAGE---MAINTAINED AND INOUTSTANDING CONDITION

17. 2001-01-02
    price $204,650 335-char remark

    Show marketing remark (335 chars)

    OWNERS HAVE INFORMED LA THAT THIS PROPERTY NEEDS TO BE SOLD AND WILL CONSID ER ANY REASONABLE OFFER THIS INFO MAY BE PASSED ALONG TO YOUR CUSTOMERS CREDIT UNION APPRAISAL AT 142500 A BARGAIN!!!!!!!!!!!!!!!!!!! DIMENSIONS DO NOT INCLUDE EXPANDABLE ATTIC-SPACE FOR TWO MORE ROOMS. BASEMENT GARAGE---MAINTAINED AND INOUTSTANDING CONDITION

18. 2001-01-02
    soldstatus $105,000 355-char remark

    Show marketing remark (335 chars)

    OWNERS HAVE INFORMED LA THAT THIS PROPERTY NEEDS TO BE SOLD AND WILL CONSID ER ANY REASONABLE OFFER THIS INFO MAY BE PASSED ALONG TO YOUR CUSTOMERS CREDIT UNION APPRAISAL AT 142500 A BARGAIN!!!!!!!!!!!!!!!!!!! DIMENSIONS DO NOT INCLUDE EXPANDABLE ATTIC-SPACE FOR TWO MORE ROOMS. BASEMENT GARAGE---MAINTAINED AND INOUTSTANDING CONDITION

19. 2001-01-02
    soldstatus $105,000 355-char remark

    Show marketing remark (335 chars)

    OWNERS HAVE INFORMED LA THAT THIS PROPERTY NEEDS TO BE SOLD AND WILL CONSID ER ANY REASONABLE OFFER THIS INFO MAY BE PASSED ALONG TO YOUR CUSTOMERS CREDIT UNION APPRAISAL AT 142500 A BARGAIN!!!!!!!!!!!!!!!!!!! DIMENSIONS DO NOT INCLUDE EXPANDABLE ATTIC-SPACE FOR TWO MORE ROOMS. BASEMENT GARAGE---MAINTAINED AND INOUTSTANDING CONDITION

20. 2001-01-02
    soldstatus $105,000 335-char remark

    Show marketing remark (335 chars)

    OWNERS HAVE INFORMED LA THAT THIS PROPERTY NEEDS TO BE SOLD AND WILL CONSID ER ANY REASONABLE OFFER THIS INFO MAY BE PASSED ALONG TO YOUR CUSTOMERS CREDIT UNION APPRAISAL AT 142500 A BARGAIN!!!!!!!!!!!!!!!!!!! DIMENSIONS DO NOT INCLUDE EXPANDABLE ATTIC-SPACE FOR TWO MORE ROOMS. BASEMENT GARAGE---MAINTAINED AND INOUTSTANDING CONDITION

21. 2000-05-27
    listed $119,900 335-char remark

    Show marketing remark (335 chars)

    OWNERS HAVE INFORMED LA THAT THIS PROPERTY NEEDS TO BE SOLD AND WILL CONSID ER ANY REASONABLE OFFER THIS INFO MAY BE PASSED ALONG TO YOUR CUSTOMERS CREDIT UNION APPRAISAL AT 142500 A BARGAIN!!!!!!!!!!!!!!!!!!! DIMENSIONS DO NOT INCLUDE EXPANDABLE ATTIC-SPACE FOR TWO MORE ROOMS. BASEMENT GARAGE---MAINTAINED AND INOUTSTANDING CONDITION

22. 2000-05-27
    listed $119,900 335-char remark

    Show marketing remark (335 chars)

    OWNERS HAVE INFORMED LA THAT THIS PROPERTY NEEDS TO BE SOLD AND WILL CONSID ER ANY REASONABLE OFFER THIS INFO MAY BE PASSED ALONG TO YOUR CUSTOMERS CREDIT UNION APPRAISAL AT 142500 A BARGAIN!!!!!!!!!!!!!!!!!!! DIMENSIONS DO NOT INCLUDE EXPANDABLE ATTIC-SPACE FOR TWO MORE ROOMS. BASEMENT GARAGE---MAINTAINED AND INOUTSTANDING CONDITION

23. 2000-02-27
    listed $129,900 355-char remark

    Show marketing remark (355 chars)

    LOT WILL BE RESURVEYED----APPLIANCES MAY REMAIN IN AS IS CONDITION WELL MAINTAINED BRICK HOME OWNED BY SAME FAMILY SINCE 1948(TWO OTHER FAMIL Y HOMES NEXT DOOR ARE ALSO FOR SALE. )FRESH PAINT, NICE LAYOUT VACANT AND RE ADY FOR NEW OWNERS. SMALL SUNROOM OR OFFICE WITH OUTSIDE ENTRY OFF LR FLOORED ATTIC APPROX 275 SQ FT WITH HALF BATH--WINDOW UNIT NO HEAT

24. 2000-02-27
    listed $129,900 355-char remark

    Show marketing remark (355 chars)

    LOT WILL BE RESURVEYED----APPLIANCES MAY REMAIN IN AS IS CONDITION WELL MAINTAINED BRICK HOME OWNED BY SAME FAMILY SINCE 1948(TWO OTHER FAMIL Y HOMES NEXT DOOR ARE ALSO FOR SALE. )FRESH PAINT, NICE LAYOUT VACANT AND RE ADY FOR NEW OWNERS. SMALL SUNROOM OR OFFICE WITH OUTSIDE ENTRY OFF LR FLOORED ATTIC APPROX 275 SQ FT WITH HALF BATH--WINDOW UNIT NO HEAT

ⓘ 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: $3,018 · $251/mo
• Projected year-2 tax: $3,018 · $251/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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,622
• − Mortgage interest: −$19,605
• − Property taxes: −$3,018
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,850
• − Management: −$2,850
• − Depreciation: −$10,182
• Taxable loss: −$4,632
• Est. tax savings @ 24.0%: +$1,112
• After-tax cash flow: $2,460/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: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Raleigh

• Score: 83/100
• State rank: #10
• US rank: #1028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raleigh, NC
• County: Wake County · 1,216,256 people
• City population: 569,344
• Metro: Raleigh-Cary, NC
• Population (ZIP): 81,419
• Household income: $67,932
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 3499.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 59% Hispanic / Latino 20% White 15% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1% Dominican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 14% · Canada
• Languages at home: 77% English-only · Spanish 18% Arabic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.88%
• Current HPI: 237.704
• Rent YoY: ▲ 0.20%
• Metro: Raleigh-Cary, 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

+169.4% since first listed

23 events — show timeline

• 2026-05-18 Price Changed $350,000 TMLS
• 2026-05-01 Price Changed $370,000 TMLS
• 2026-04-07 Price Changed $399,000 TMLS
• 2026-03-20 Price Changed $425,000 TMLS
• 2026-02-27 Price Changed $450,000 TMLS
• 2026-02-05 Price Changed $495,000 TMLS
• 2026-01-17 Listed $550,000 TMLS
• 2025-08-11 Rental Removed $975 APPFOLIO
• 2025-05-14 Listed for Rent $975 APPFOLIO
• 2025-04-17 Rental Removed $975 APPFOLIO
• 2025-04-14 Listed for Rent $975 APPFOLIO
• 2024-11-05 Price Changed $119,900 TMLS
• 2019-05-02 Sold (Public Records) $192,000 Public Records
• 2005-04-18 Sold (Public Records) $122,000 Public Records
• 2001-01-02 Sold (MLS) $105,000 AMLSNC
• 2001-01-02 Sold (MLS) $105,000 AMLSNC
• 2001-01-02 Sold (MLS) $105,000 TMLS
• 2001-01-02 Price Changed $204,650 TMLS
• 2001-01-02 Sold (MLS) $105,000 TMLS
• 2000-05-27 Listed $119,900 AMLSNC
• 2000-05-27 Listed $119,900 TMLS
• 2000-02-27 Listed $129,900 AMLSNC
• 2000-02-27 Listed $129,900 TMLS

Property tax history

+7.8%/yr

Latest (2025): $3,018 · +0.4% YoY. Source: county tax records.