311 S Washington Ave · Reidsville, NC 27320

$52,900

3 bd · 1.0 ba · 1,536 sqft · MultiFamily public records · 293 Days on market

Built 1927 8,712 sqft lot ↓ 22% since listing

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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
• Schools +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investor Opportunity in Reidsville! This 3-bedroom, 2-bath home offers over 1,500 sq ft of living space and is ready for your vision. Located just minutes from downtown, shopping, dining, and entertainment, it’s perfectly positioned for a renovation project or rental investment. With its spacious layout and desirable location, this as-is property provides a prime opportunity for investors or handy buyers to bring it back to life.

Key facts

• 8,712 sq ft lot
• Built 1927
• Listed 293 days

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Sewer: see remarks
• Home design: Two-story house; Built in 1927; Stick/site-built residential property
• Construction: Brick, vinyl siding, and wood siding exterior
• Exterior features: Public water

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Cooling: Other (see remarks); Heating: see remarks; Water heater: unknown
• Interior features: Primary bedroom on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $53k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $53k).
• Recommended offer: $47k (12.0% below list) — sets the bar for market timing.
• Cap rate 29.5% vs local median 3.8% in Reidsville — 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 59/100 on livability (#553 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D-, crime F, amenities F.
• Rockingham County Schools (rural): math 38% / reading 40% proficiency, ranked #120 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 251 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 344 units permitted in Rockingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rockingham County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 293 days — a 12% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $27k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,552 (12.0% below list)

Questions for the listing agent

1. It's been on market 293 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 1927 — 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 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?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.33% ✓
• Cap rate: 29.48%
• Cash-on-cash: 82.79%
• DSCR: 4.68
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 83.1%
• Equity multiple: 4.82×
• Total profit: $56,545
• Equity at exit: $7,888

10-year hold

• IRR: 86.4%
• Equity multiple: 9.99×
• Total profit: $133,165
• Equity at exit: $4,574

Cash invested: $14,812 (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 27320

• Home prices YoY: -30.8%
• Active inventory: 251
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,760 high
• Mortgage (P&I): −$277
• Tax from tax record: −$69 /mo · $828/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $1,022

Break-even live

Break-even rent $466

Max offer price $52,900

Occupancy floor 37%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$1,760
Total (2 units)			$1,760

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: $13,225
• Closing costs: $1,587
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
528 N Scales St Unit C Reidsville, NC	2.0	1.0	1080	$825	$0.76	23d	1	0.78mi

Listing history 25 events

1. 2026-06-13
   statusdays on market $52,900 Pending 293 DOM
2. 2026-06-10
   days on market $52,900 Due Diligence Period 291 DOM
3. 2026-06-09
   days on market $52,900 Due Diligence Period 290 DOM
4. 2026-06-08
   days on market $52,900 Due Diligence Period 289 DOM
5. 2026-06-07
   days on market $52,900 Due Diligence Period 288 DOM
6. 2026-06-03
   days on market $52,900 Due Diligence Period 284 DOM
7. 2026-06-02
   days on market $52,900 Due Diligence Period 283 DOM
8. 2026-06-01
   days on market $52,900 Due Diligence Period 282 DOM
9. 2026-06-01
   status $52,900 Due Diligence Period 281 DOM
10. 2026-05-31
    days on market $52,900 Active 281 DOM
11. 2026-05-31
    days on market $52,900 Active 280 DOM
12. 2026-04-24
    status Active
13. 2026-04-16
    historical
14. 2026-03-20
    price $52,900
15. 2026-02-22
    price $54,900
16. 2026-02-17
    status Active
17. 2026-02-16
    historical
18. 2026-01-14
    price $59,900
19. 2025-12-01
    price $68,900
20. 2025-11-19
    price $69,900
21. 2025-08-15
    listed $79,900 Active
22. 2025-08-11
    soldstatus $53,000
23. 2022-08-08
    price $59,000
24. 2022-07-19
    price $64,000
25. 2022-07-03
    price $68,000

ⓘ 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: $828 · $69/mo
• Projected year-2 tax: $828 · $69/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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,120
• − Mortgage interest: −$2,963
• − Property taxes: −$828
• − Insurance: −$264
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$1,539
• Taxable income: $12,146
• Est. tax owed @ 24.0%: −$2,915
• After-tax cash flow: $9,348/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: Rockingham County Schools
• NCES district ID: 3703990
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $38,914
• Composite: 32.6/100
• National rank: #5673
• State rank: #120 of 178 in NC

Livability — Reidsville

• Score: 59/100
• State rank: #553
• US rank: #20359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reidsville, NC
• City population: 38,610
• Population (ZIP): 38,610

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 87,103 people
• By 2030: 83,763 · -3.8%
• By 2040: 76,082 · -12.7%
• By 2050: 68,106 · -21.8%
• By 2075: 52,531 · -39.7%
• By 2100: 39,871 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 23% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Rockingham

• 2024 margin: Solid R (+35.9) · D 31.7% · R 67.6%
• 2008→2024 swing: -19.9pp toward R · 2008: -16.0pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+32.0 2016: R+30.0 2012: R+21.3 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.42%
• Current HPI: 205.028
• Rent YoY: —
• Metro: —
• 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

-22.2% since first listed

14 events — show timeline

• 2026-04-24 Relisted — Triad MLS
• 2026-04-16 Delisted — Triad MLS
• 2026-03-20 Price Changed $52,900 Triad MLS
• 2026-02-22 Price Changed $54,900 Triad MLS
• 2026-02-17 Relisted — Triad MLS
• 2026-02-16 Delisted — Triad MLS
• 2026-01-14 Price Changed $59,900 Triad MLS
• 2025-12-01 Price Changed $68,900 Triad MLS
• 2025-11-19 Price Changed $69,900 Triad MLS
• 2025-08-15 Listed $79,900 Triad MLS
• 2025-08-11 Sold (Public Records) $53,000 Public Records
• 2022-08-08 Price Changed $59,000 Triad MLS
• 2022-07-19 Price Changed $64,000 Triad MLS
• 2022-07-03 Price Changed $68,000 Triad MLS

Property tax history

+3.0%/yr

Latest (2025): $828 · +0.0% YoY. Source: county tax records.