514-516 S Mebane St · Burlington, NC 27215

$219,900

None bd · None ba · 2,093 sqft · MultiFamily · 13 Days on market

Built 1920 Good condition 9,365 sqft lot Est $167k · 31% over

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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 +24.0/30.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Duplex for sale to the savvy investor! 514 S Mebane St is currently rented for $1000/month (Lease expires 10/5/2026 and renter is month-to-month presently) and 516 S Mebane St is currently rented for $950/month (Lease expires 1/13/2027 and renter is also month-to-month presently). Buyers will need a LOI/POF to schedule a showing and plenty of advance notice.

Key facts

• 9,365 sq ft lot
• Built 1920
• Listed 12 days

Property features AI

Finance

• Other: Lot number 20; Lot size approximately 0.215 acres; Property directions available
• Financial info: Annual tax amount listed
• HOA & community: No homeowners association (listing notes association: Greensboro)

Exterior

• Parking: Driveway
• Utilities: Public sewer; Water heater: Unknown
• Home design: Duplex (residential income); Built in 1920; Existing structure
• Construction: 2,093 total building area
• Exterior features: Public water

Interior

• Heating & cooling: Cooling: Other; Heating: See remarks; Heating fuel: See remarks
• Interior features: No basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $220k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive. Per door: $215/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Cap rate 8.6% vs local median 3.6% in Burlington — 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 70/100 on livability (#123 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, crime F, amenities F.
• Alamance-Burlington Schools (rural): math 30% / reading 40% proficiency, ranked #133 of 178 in NC (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harvey R Newlin Elementary (math 9% / reading 17%, grade F, #1,356 of 1,410 statewide, top 96%, 516 students, 99% FRL); Graham Middle (math 12% / reading 24%, grade F, #441 of 475 statewide, top 93%, 587 students, 100% FRL); Graham High (math 47% / reading 47%, grade D-, #334 of 535 statewide, top 64%, 913 students, 72% FRL) — zoned schools average 90% FRL vs 51% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 312 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,466 units permitted in Alamance County in 2024 (403 in 5+ unit buildings).
• This rent runs 43% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Alamance County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $219,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.12% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.37%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $167,440
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
805 S Broad St	0.26mi	3/2.0	2,137 (+2%)	7mo	$170,000	$80	79

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 · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-9,221
• Equity at exit: $32,788

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $23,399
• Equity at exit: $19,013

Cash invested: $61,572 (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 27215

• Rents YoY: 2.6%
• Active inventory: 312
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,467 high
• Mortgage (P&I): −$1,153
• Tax est. 1.5%: −$275 /mo · $3,298/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $429

Break-even live

Break-even rent $1,924

Max offer price $219,900

Occupancy floor 78%

Sensitivity live

Price	-10% $581	-5% $505	+0% $429	+5% $353	+10% $277
Rent	-10% $234	-5% $332	+0% $429	+5% $527	+10% $624
Rate	-1.0pp $540	-0.5pp $485	base $429	+0.5pp $372	+1.0pp $314

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,468
Total (2 units)			$2,467

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Stagg St Burlington, NC	3.0	2.0	1550	$2,050	$1.32	22d	1	0.69mi
1106 Attica St Burlington, NC	3.0	2.0	1500	$1,750	$1.17	14d	1	1.47mi

Listing history 12 events

1. 2026-06-19
   days on market $219,900 Active 13 DOM
2. 2026-06-18
   days on market $219,900 Active 12 DOM
3. 2026-06-17
   days on market $219,900 Active 11 DOM
4. 2026-06-16
   days on market $219,900 Active 10 DOM
5. 2026-06-15
   days on market $219,900 Active 9 DOM
6. 2026-06-14
   days on market $219,900 Active 7 DOM
7. 2026-06-13
   days on market $219,900 Active 6 DOM
8. 2026-06-10
   days on market $219,900 Active 4 DOM
9. 2026-06-09
   days on market $219,900 Active 3 DOM
10. 2026-06-08
    days on market $219,900 Active 2 DOM
11. 2026-06-07
    remarks 360-char remark
12. 2026-06-07
    listed $219,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $29,604
• − Mortgage interest: −$12,318
• − Property taxes: −$3,298
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,368
• − Management: −$2,368
• − Depreciation: −$6,397
• Taxable income: $1,754
• Est. tax owed @ 24.0%: −$421
• After-tax cash flow: $4,730/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.

Condition & rehab AI · 10 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with no visible damage or wear. The exterior and interior appear to be well-maintained, and the property has good curb appeal. Painting the exterior and landscaping improvements would increase its value for both resale and rental.

Value-add opportunities

• Both Painting the exterior siding and roof — Painting the exterior siding and roof can improve the curb appeal and increase the property's value for both resale and rental.
• Both Landscaping improvements — Landscaping improvements can enhance the curb appeal and increase the property's value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding and roof — Painting the exterior siding and roof can improve the curb appeal and increase the property's value for both resale and rental. ↑
• Both Landscaping improvements — Landscaping improvements can enhance the curb appeal and increase the property's value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Alamance-Burlington Schools
• NCES district ID: 3700030
• Math proficiency: 30% ▼ -6.00%
• Reading proficiency: 40% ▲ 2.00%
• Median HH income: $43,359
• Composite: 29.68/100
• National rank: #6460
• State rank: #133 of 178 in NC

Livability — Burlington

• Score: 70/100
• State rank: #123
• US rank: #7396

Category grades

Amenities F Commute D+ 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: Burlington, NC
• County: Alamance County · 173,369 people
• City population: 88,508
• Metro: Burlington, NC
• Population (ZIP): 47,102
• Household income: $68,825
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1497.0

Population outlook (Alamance County) Hauer SSP2

• Today (2025): 173,381 people
• By 2030: 180,609 · +4.2%
• By 2040: 194,327 · +12.1%
• By 2050: 206,158 · +18.9%
• By 2075: 235,665 · +35.9%
• By 2100: 258,626 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 20% Hispanic / Latino 10% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 3% Italian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Alamance

• 2024 margin: Lean R (+8.2) · D 45.4% · R 53.5% · Other 1.1%
• 2008→2024 swing: +1.1pp toward D · 2008: -9.2pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+8.4 2016: R+12.9 2012: R+14.1 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -263.87%
• Current HPI: 224.3392
• Rent YoY: ▲ 2.61%
• Metro: Burlington, 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

• 2026-06-06 Listed $219,900 Triad MLS