409 Burtner St · Greensboro, NC 27406

$140,000

2 bd · 1.0 ba · 1,174 sqft · SingleFamily public records · 250 Days on market

Built 1928 0.29 ac lot Est $190k · 26% under

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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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all Investors. 409 Burtner St would be a wonderful addition to your portfolio. The home sits on a large open lot close to shopping and public transportation. It has 2 bedrooms a formal dining room/eat in kitchen with a nice size living room. There is a screen porch off of the kitchen and a detached office/inlaw-suite with a bathroom home is in need of TLC. Hurry this one won't last long. SOLD AS IS NO REPAIRS/BUYER TO VERIFY ALL OTHER INFO ALL OFFERS DUE IN BY 10/12/2022 @NOON

Key facts

• Large open lot
• 0.29 acre lot
• Built 1928

Tags

• LARGE OPEN LOT
• SCREENED IN BACK PORCH
• DETACHED SECOND LIVING AREA

Property features AI

Finance

• HOA & community: No homeowners association; Subdivision: East Side

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Residential stick/site-built house; One story
• Construction: Built in 1928; Wood siding construction
• Exterior features: City lot; No fencing; Second living quarters (detached) with 2 rooms and 1 full bath; No pool

Interior

• Kitchen: Free-standing range
• Bedrooms: Primary bedroom located on the main level
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Electric heating; No central cooling
• Interior features: Primary bedroom on main level; Laminate and wood flooring
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/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 $137k (1.8% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.8% in Greensboro — 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 81/100 on livability (#12 in NC, #1,335 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 261 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 250 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $140k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 250 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 1928 — 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. 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?
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: 0.98% ✗
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $190,188
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1213 Bellevue St	0.04mi	3/2.0 (+1)	1,232 (+5%)	1mo	$246,500	$200	80
601 Julian St	0.46mi	2/1.0	1,187 (+1%)	3mo	$128,000	$108	74
807 Tuscaloosa St	0.45mi	3/1.0 (+1)	1,157 (-1%)	5mo	$110,000	$95	67
700-702 Tuscaloosa St	0.35mi	3/2.0 (+1)	1,152 (-2%)	10mo	$208,000	$181	63
504 Lama St	0.57mi	3/1.5 (+1)	1,148 (-2%)	9mo	$186,000	$162	56
1109 Benjamin Benson St	0.67mi	3/2.0 (+1)	1,134 (-3%)	2mo	$212,500	$187	53
602 Julian St	0.44mi	3/2.0 (+1)	1,305 (+11%)	2mo	$150,000	$115	50
904 Ashe St	0.66mi	3/2.0 (+1)	1,157 (-1%)	11mo	$170,000	$147	49
701 E Bragg St	0.67mi	3/1.0 (+1)	1,080 (-8%)	8mo	$169,000	$156	43
706 Julian St	0.52mi	3/1.5 (+1)	1,316 (+12%)	11mo	$127,000	$97	39
714 Martin St	0.66mi	3/2.0 (+1)	1,031 (-12%)	2mo	$209,500	$203	38
820 Broad Ave	0.53mi	3/2.0 (+1)	1,012 (-14%)	10mo	$199,000	$197	35

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 · 2.18% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-10,213
• Equity at exit: $20,874

10-year hold

• IRR: 1.5%
• Equity multiple: 1.10×
• Total profit: $3,969
• Equity at exit: $12,105

Cash invested: $39,200 (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 27406

• Rents YoY: 2.2%
• Active inventory: 261
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$734
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $214

Break-even live

Break-even rent $1,104

Max offer price $140,000

Occupancy floor 79%

Sensitivity live

Price	-10% $293	-5% $254	+0% $214	+5% $174	+10% $135
Rent	-10% $106	-5% $160	+0% $214	+5% $268	+10% $323
Rate	-1.0pp $285	-0.5pp $250	base $214	+0.5pp $178	+1.0pp $141

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 E Whittington St Greensboro, NC	2.0	1.0	700	$995	$1.42	24d	1	0.27mi
909 Tuscaloosa St Greensboro, NC	2.0	1.0	840	$1,195	$1.42	24d	1	0.59mi
904 Stephens St Greensboro, NC	3.0	1.0	1052	$1,490	$1.42	15d	1	0.60mi
238 E Lewis St #302 Greensboro, NC	2.0	2.0	1270	$1,795	$1.41	24d	1	0.70mi
2007 S Benbow Rd Greensboro, NC	3.0	1.0	960	$1,100	$1.15	24d	1	0.75mi
317 Craig St Greensboro, NC	2.0	1.0	1027	$1,275	$1.24	15d	1	0.76mi
211 Erwin St Greensboro, NC	3.0	1.5	1130	$1,570	$1.39	24d	1	0.78mi
710 Reid St Greensboro, NC	3.0	1.0	925	$1,395	$1.51	15d	1	0.78mi
1001 E Bragg St Apt B Greensboro, NC	2.0	1.0	700	$925	$1.32	15d	1	0.81mi
1112 Stephens St Greensboro, NC	2.0	1.0	744	$1,250	$1.68	20d	1	0.90mi
506 Martin St Greensboro, NC	3.0	2.0	1296	$1,500	$1.16	24d	1	0.92mi
321 S Elm St Greensboro, NC	1.0–2.0	1.0–2.0	950	$1,787	$1.88	15d	8	1.01mi
500 Savannah St Greensboro, NC	2.0	1.0–1.5	769	$1,295	$1.68	20d	8	1.11mi
801 W McGee St #25 Greensboro, NC	2.0	2.0	960	$1,550	$1.61	22d	1	1.18mi
826 W Terrell St Greensboro, NC	3.0	1.0	1084	$1,750	$1.61	24d	1	1.18mi
1004 Highland Ave Unit A Greensboro, NC	3.0	1.0	1300	$1,250	$0.96	24d	1	1.21mi
920 Highland Ave Greensboro, NC	2.0	2.0	890	$1,235	$1.39	15d	1	1.24mi
220 W Market St Greensboro, NC	1.0	1.0	858	$1,200	$1.40	24d	2	1.26mi
516 S Mendenhall St Unit 512-G Greensboro, NC	2.0	1.0	812	$1,299	$1.60	15d	1	1.27mi
201 N Elm St Greensboro, NC	2.0	2.0	1046	$2,298	$2.20	15d	2	1.30mi
201 N Elm St Greensboro, NC	2.0	2.0	1154	$2,195	$1.90	24d	1	1.31mi
811 Dana Pl Greensboro, NC	3.0	1.0	950	$1,250	$1.32	24d	1	1.42mi
815 Dana Pl Unit C Greensboro, NC	2.0	1.0	780	$1,100	$1.41	24d	1	1.44mi
2117 Tuscaloosa St Greensboro, NC	3.0	1.0	1000	$1,600	$1.60	24d	1	1.50mi

Listing history 11 events

1. 2026-05-31
   days on market $140,000 Active 250 DOM
2. 2026-05-31
   days on market $140,000 Active 249 DOM
3. 2026-02-27
   price $140,000
4. 2026-01-06
   price $150,000
5. 2025-10-22
   price $159,900
6. 2025-09-23
   listed $170,000 Active
7. 2022-12-14
   soldstatus $64,000 Closed 490-char remark

   Show marketing remark (490 chars)

   Calling all Investors. 409 Burtner St would be a wonderful addition to your portfolio. The home sits on a large open lot close to shopping and public transportation. It has 2 bedrooms a formal dining room/eat in kitchen with a nice size living room. There is a screen porch off of the kitchen and a detached office/inlaw-suite with a bathroom home is in need of TLC. Hurry this one won't last long. SOLD AS IS NO REPAIRS/BUYER TO VERIFY ALL OTHER INFO ALL OFFERS DUE IN BY 10/12/2022 @NOON

8. 2022-12-14
   soldstatus $64,000

   Show marketing remark (490 chars)

   Calling all Investors. 409 Burtner St would be a wonderful addition to your portfolio. The home sits on a large open lot close to shopping and public transportation. It has 2 bedrooms a formal dining room/eat in kitchen with a nice size living room. There is a screen porch off of the kitchen and a detached office/inlaw-suite with a bathroom home is in need of TLC. Hurry this one won't last long. SOLD AS IS NO REPAIRS/BUYER TO VERIFY ALL OTHER INFO ALL OFFERS DUE IN BY 10/12/2022 @NOON

9. 2022-10-30
   status Pending 490-char remark

   Show marketing remark (490 chars)

   Calling all Investors. 409 Burtner St would be a wonderful addition to your portfolio. The home sits on a large open lot close to shopping and public transportation. It has 2 bedrooms a formal dining room/eat in kitchen with a nice size living room. There is a screen porch off of the kitchen and a detached office/inlaw-suite with a bathroom home is in need of TLC. Hurry this one won't last long. SOLD AS IS NO REPAIRS/BUYER TO VERIFY ALL OTHER INFO ALL OFFERS DUE IN BY 10/12/2022 @NOON

10. 2022-10-13
    historical Due Diligence Period 490-char remark

    Show marketing remark (490 chars)

    Calling all Investors. 409 Burtner St would be a wonderful addition to your portfolio. The home sits on a large open lot close to shopping and public transportation. It has 2 bedrooms a formal dining room/eat in kitchen with a nice size living room. There is a screen porch off of the kitchen and a detached office/inlaw-suite with a bathroom home is in need of TLC. Hurry this one won't last long. SOLD AS IS NO REPAIRS/BUYER TO VERIFY ALL OTHER INFO ALL OFFERS DUE IN BY 10/12/2022 @NOON

11. 2022-10-07
    listed $89,000 Active 490-char remark

    Show marketing remark (490 chars)

    Calling all Investors. 409 Burtner St would be a wonderful addition to your portfolio. The home sits on a large open lot close to shopping and public transportation. It has 2 bedrooms a formal dining room/eat in kitchen with a nice size living room. There is a screen porch off of the kitchen and a detached office/inlaw-suite with a bathroom home is in need of TLC. Hurry this one won't last long. SOLD AS IS NO REPAIRS/BUYER TO VERIFY ALL OTHER INFO ALL OFFERS DUE IN BY 10/12/2022 @NOON

ⓘ 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: $951 · $79/mo
• Projected year-2 tax: $1,148 · $96/mo
• Expected delta: +$197/yr (+$16/mo · 20.7%)

ⓘ 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 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $16,494
• − Mortgage interest: −$7,842
• − Property taxes: −$951
• − Insurance: −$700
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$4,073
• Taxable income: $289
• Est. tax owed @ 24.0%: −$69
• After-tax cash flow: $2,500/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: Guilford County Schools
• NCES district ID: 3701920
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $46,315
• Composite: 35.78/100
• National rank: #4842
• State rank: #99 of 178 in NC

Livability — Greensboro

• Score: 81/100
• State rank: #12
• US rank: #1335

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greensboro, NC
• County: Guilford County · 487,190 people
• City population: 329,421
• Metro: Greensboro-High Point, NC
• Population (ZIP): 60,651
• Household income: $59,563
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 2462.0

Population outlook (Guilford County) Hauer SSP2

• Today (2025): 584,596 people
• By 2030: 616,851 · +5.5%
• By 2040: 678,451 · +16.1%
• By 2050: 734,788 · +25.7%
• By 2075: 862,985 · +47.6%
• By 2100: 948,704 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 52% White 26% Hispanic / Latino 13% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Italian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 10% · Canada, Vietnam, United Kingdom
• Languages at home: 83% English-only · Spanish 11% Vietnamese 1% Other Asian/Pacific 1%

Political lean MEDSL · Guilford

• 2024 margin: Strong D (+21.8) · D 60.2% · R 38.4% · Other 1.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 18.4pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+23.1 2016: D+20.0 2012: D+16.5 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.70%
• Current HPI: 243.2612
• Rent YoY: ▲ 2.18%
• 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

+57.3% since first listed

9 events — show timeline

• 2026-02-27 Price Changed $140,000 Triad MLS
• 2026-01-06 Price Changed $150,000 Triad MLS
• 2025-10-22 Price Changed $159,900 Triad MLS
• 2025-09-23 Listed $170,000 Triad MLS
• 2022-12-14 Sold (Public Records) $64,000 Public Records
• 2022-12-14 Sold (MLS) $64,000 Triad MLS
• 2022-10-30 Pending — Triad MLS
• 2022-10-13 Contingent — Triad MLS
• 2022-10-07 Listed $89,000 Triad MLS

Property tax history

+8.3%/yr

Latest (2025): $951 · -1.0% YoY. Source: county tax records.