408 Greenwood St · Eden, NC 27288

$85,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 37 Days on market

Built 1913 0.28 ac lot Est $135k · 37% under

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.9/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on the market! No fault of seller. Investor special with strong upside in Eden. This property offers a great opportunity for buyers looking to customize or add value. Several updates and improvements have been started, providing a solid foundation to finish to your liking. Seller is offering a $3,000 credit to be applied toward repairs. Conveniently located with easy access to local amenities, this home has the potential to be a great primary residence, rental, or investment project. Property is being sold as-is.

Key facts

• Several updates
• Easy access
• Solid foundation

Tags

• SEVERAL UPDATES
• SOLID FOUNDATION
• EASY ACCESS

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residential house; Stick/site-built construction; Built in 1913; One story
• Construction: Vinyl siding
• Exterior features: Public road access (publicly maintained road); Public water supply; Public sewer

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating fueled by natural gas
• Interior features: Crawl space foundation; One level layout

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($923 rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 4.3% in Eden — 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 67/100 on livability (#224 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime D-, 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: 208 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $588 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. Crime grade is D 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?
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: 1.09% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.43%
• DSCR: 1.42
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $135,296
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
721 Taylor St	0.21mi	2/1.0	864 (-4%)	1mo	$136,000	$157	83
401 Greenwood St	0.05mi	3/1.0 (+1)	948 (+6%)	2mo	$148,500	$157	82
306 Glovenia St	0.17mi	1/1.0 (-1)	980 (+9%)	15mo	$88,500	$90	59
107 N Primitive St	0.58mi	2/2.0	880 (-2%)	13mo	$139,000	$158	55
1021 Louise Ave	0.66mi	2/1.0	825 (-8%)	2mo	$124,900	$151	54
904 Church St	0.55mi	2/1.0	952 (+6%)	13mo	$171,900	$181	53
304 Morehead St	0.25mi	2/1.0	770 (-14%)	14mo	$8,000	$10	53
120 Short Morgan St	0.69mi	3/1.0 (+1)	974 (+9%)	7mo	$95,000	$98	42
508 Prospect St	0.71mi	2/1.0	1,002 (+12%)	9mo	$139,900	$140	40
1110 Irving Ave	0.59mi	3/1.0 (+1)	992 (+11%)	11mo	$143,000	$144	40
731 Jefferson St	0.70mi	2/1.0	798 (-11%)	14mo	$27,500	$34	37
1004 Galloway St	0.73mi	3/1.0 (+1)	984 (+10%)	13mo	$177,000	$180	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-1,882
• Equity at exit: $12,674

10-year hold

• IRR: 7.6%
• Equity multiple: 1.57×
• Total profit: $13,636
• Equity at exit: $7,349

Cash invested: $23,800 (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 27288

• Home prices YoY: -26.5%
• Active inventory: 208
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $923 high
• Mortgage (P&I): −$446
• Tax from tax record: −$61 /mo · $733/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $187

Break-even live

Break-even rent $686

Max offer price $85,000

Occupancy floor 75%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 Irving Ave Unit A Eden, NC	2.0	1.0	900	$900	$1.00	23d	1	0.20mi
524 Boone Rd Apt C Eden, NC	1.0	1.0	600	$950	$1.58	23d	1	0.41mi
615 Dumaine St Unit F Eden, NC	2.0	1.0	615	$995	$1.62	23d	1	0.46mi
615 Dumaine St Unit H Eden, NC	1.0	1.0	550	$850	$1.55	23d	1	0.46mi
326 Cedar St Unit H Eden, NC	2.0	1.0	780	$975	$1.25	23d	1	0.57mi
625 Washington St Eden, NC	2.0	1.0	547	$899	$1.64	14d	4	0.57mi

Listing history 12 events

1. 2026-06-18
   days on market $85,000 Active 37 DOM
2. 2026-06-17
   days on market $85,000 Active 36 DOM
3. 2026-06-16
   days on market $85,000 Active 35 DOM
4. 2026-06-15
   days on market $85,000 Active 34 DOM
5. 2026-06-14
   days on market $85,000 Active 32 DOM
6. 2026-06-13
   days on market $85,000 Active 31 DOM
7. 2026-06-10
   days on market $85,000 Active 29 DOM
8. 2026-06-09
   days on market $85,000 Active 28 DOM
9. 2026-06-09
   remarks 523-char remark
10. 2026-06-09
    status $85,000 Active 27 DOM
11. 2026-05-31
    statusdays on market $85,000 Pending 27 DOM
12. 2026-05-04
    listed $85,000 Active

ⓘ 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: $733 · $61/mo
• Projected year-2 tax: $733 · $61/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,076
• − Mortgage interest: −$4,761
• − Property taxes: −$733
• − Insurance: −$425
• − Repairs & maintenance: −$886
• − Management: −$886
• − Depreciation: −$2,473
• Taxable income: $912
• Est. tax owed @ 24.0%: −$219
• After-tax cash flow: $2,024/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 — Eden

• Score: 67/100
• State rank: #224
• US rank: #10535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eden, NC
• County: Rockingham County · 22,926 people
• City population: 22,926
• Metro: Greensboro-High Point, NC
• Population (ZIP): 22,926
• Household income: $52,594
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 860.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 23% Hispanic / Latino 6% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% German/W. Germanic 1%

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: ▼ -66.28%
• Current HPI: 183.5709
• Rent YoY: —
• Metro: Greensboro-High Point, 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

1 event — show timeline

• 2026-05-04 Listed $85,000 Triad MLS

Property tax history

+5.9%/yr

Latest (2025): $733 · +0.0% YoY. Source: county tax records.