240 Clarence Alston Rd · Louisburg, NC 27525

$324,000

4 bd · 2.0 ba · 2,052 sqft · Manufactured public records · 47 Days on market

Built 2002 5.00 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).

• Appreciation +9.2/10.0
• Cash flow +8.1/30.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +1.3/10.0

Listing remarks

Multiple parcel opportunity (2 parcels available - see link to the adjoining second parcel (187 Clarence Alston Rd. listing here: https://tijyjohn. exprealty.com/property/31-10164622-187-clarence-alston-road-NC-27525). This property (240 Clarence Alston Rd. , Franklinton) is 5-acre rural homesite featuring an existing 3 bd, manufactured residence with immediate occupancy, rental potential, or future replacement build opportunity in desirable Franklin County countryside. The property is being sold ''AS-IS''. This property offers flexibility for primary residence use, investment positioning, or phased estate development. The existing home provides functional living space while allowing buyers

Key facts

• Generous acreage
• Storage structures
• Recreational uses

Tags

• 5 ACRE RURAL HOMESITE
• GENEROUS ACREAGE
• OUTDOOR LIVING
• HOBBY FARMING
• STORAGE STRUCTURES
• RECREATIONAL USES

Property features AI

Finance

• Other: Approximately 5 acres of wooded land; Road access via private, unimproved/dirt road (private maintained easement); Zoning: FCO AR; Pool listed as 'Other' (see property details)
• HOA & community: No association

Exterior

• Parking: Open parking with approximately 10 spaces
• Utilities: Well water; Septic tank; Electricity available and connected; Septic connected; Water connected
• Home design: Manufactured house; One level (entry level 1); Faces unspecified
• Construction: Vinyl siding; Shingle roof; Brick/mortar foundation; Built and configured as a manufactured home
• Exterior features: Deck; Porch; Private yard; Storage; Back yard fencing (wire); Other on-site structures

Interior

• Kitchen: Refrigerator
• Bedrooms: 4 bedrooms (all on the main level)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning; Ceiling fan(s)
• Interior features: Eat-in kitchen; Bathtub/shower combination; Walk-in closet(s); Blinds on windows; Wood burning stove fireplace (1)
• Laundry & utility: Washer; Dryer; Electric dryer hookup; Washer hookup; Laundry room with sink

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $324k.

Deal economics

• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (36.5% below list).
• Recommended offer: $206k (36.5% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.2% in Louisburg — 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 66/100 on livability (#289 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Franklin County Schools (rural): math 34% / reading 37% proficiency, ranked #128 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklinton Middle (math 26% / reading 27%, grade F, #381 of 475 statewide, top 81%, 247 students, 78% FRL); Franklinton High (math 57% / reading 60%, grade C, #235 of 535 statewide, top 45%, 1,182 students, 48% FRL).
• Market conditions: 250 active listings in the ZIP; 948 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $27k appreciation (8.4% local appreciation)).
• Franklin County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($314k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $324k implies a 980% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 46% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,603 (36.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.63% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.23%
• DSCR: 0.81
• GRM: 13.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 2.34×
• Total profit: $121,741
• Equity at exit: $255,496

10-year hold

• IRR: 16.8%
• Equity multiple: 5.06×
• Total profit: $368,615
• Equity at exit: $516,337

Cash invested: $90,720 (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 27525

• Home prices YoY: 3.0%
• Active inventory: 250
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $2,056 medium
• Mortgage (P&I): −$1,699
• Tax from tax record: −$110 /mo · $1,318/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $-320

Break-even live

Break-even rent $2,461

Max offer price $267,523

Occupancy floor —

Sensitivity live

Price	-10% $-136	-5% $-228	+0% $-320	+5% $-411	+10% $-503
Rent	-10% $-482	-5% $-401	+0% $-320	+5% $-238	+10% $-157
Rate	-1.0pp $-157	-0.5pp $-237	base $-320	+0.5pp $-404	+1.0pp $-489

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: $81,000
• Closing costs: $9,720
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $324,000 Active 47 DOM
2. 2026-06-18
   days on market $324,000 Active 45 DOM
3. 2026-06-17
   days on market $324,000 Active 44 DOM
4. 2026-06-16
   days on market $324,000 Active 43 DOM
5. 2026-06-15
   days on market $324,000 Active 42 DOM
6. 2026-06-13
   days on market $324,000 Active 40 DOM
7. 2026-06-12
   days on market $324,000 Active 39 DOM
8. 2026-06-09
   days on market $324,000 Active 36 DOM
9. 2026-06-08
   days on market $324,000 Active 35 DOM
10. 2026-06-07
    days on market $324,000 Active 34 DOM
11. 2026-06-07
    days on market $324,000 Active 33 DOM
12. 2026-06-04
    days on market $324,000 Active 30 DOM
13. 2026-06-02
    days on market $324,000 Active 29 DOM
14. 2026-06-01
    days on market $324,000 Active 28 DOM
15. 2026-05-31
    remarks 699-char remark
16. 2026-05-31
    listed $324,000 Active 27 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: $1,318 · $110/mo
• Projected year-2 tax: $2,657 · $221/mo
• Expected delta: +$1,338/yr (+$112/mo · 101.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 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: $24,672
• − Mortgage interest: −$18,149
• − Property taxes: −$1,318
• − Insurance: −$1,620
• − Repairs & maintenance: −$1,974
• − Management: −$1,974
• − Depreciation: −$9,425
• Taxable loss: −$9,788
• Est. tax savings @ 24.0%: +$2,349
• After-tax cash flow: $-1,487/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: Franklin County Schools
• NCES district ID: 3701530
• Math proficiency: 34% ▬ 0.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $44,630
• Composite: 30.25/100
• National rank: #6286
• State rank: #128 of 178 in NC

Livability — Louisburg

• Score: 66/100
• State rank: #289
• US rank: #12287

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Franklin County · 64,885 people
• City population: 25,543
• Metro: Raleigh-Cary, NC
• Population (ZIP): 17,110
• Household income: $73,036
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 446.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 69,848 people
• By 2030: 72,480 · +3.8%
• By 2040: 76,682 · +9.8%
• By 2050: 78,993 · +13.1%
• By 2075: 82,888 · +18.7%
• By 2100: 80,784 · +15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 24% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Cuban 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Franklin

• 2024 margin: R (+13.6) · D 42.7% · R 56.3%
• 2008→2024 swing: -12.9pp toward R · 2008: -0.7pp · 2024: -13.6pp
• All cycles: 2024: R+13.6 2020: R+13.4 2016: R+11.7 2012: R+4.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.42%
• Current HPI: 294.1531
• Rent YoY: —
• 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

+980.0% since first listed

2 events — show timeline

• 2026-05-04 Listed $324,000 TMLS
• 2001-12-14 Sold (Public Records) $30,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,318 · +0.4% YoY. Source: county tax records.