3615 Delancy St · Greensboro, NC 27405

$85,000

2 bd · 1.0 ba · 1,108 sqft · SingleFamily public records · 11 Days on market

Built 1927 10,454 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom, 1 bathroom house on corner lot. Needs TLC

Key facts

• 0.24 acre lot
• Built 1927
• Listed 11 days

Property features AI

Finance

• Other: Publicly maintained road access
• HOA & community: No homeowners association

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Residential stick/site-built house; One-story; Built in 1927; Existing structure
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: City lot

Interior

• Kitchen: Kitchen on the main level; Electric water heater
• Bedrooms: Bedrooms located on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating using natural gas
• Interior features: Primary bedroom located on the main level
• Laundry & utility: Washer/dryer location not specified

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 $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 11.3% 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 (+3.8%/yr); 381 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $588 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $85,000

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.36% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.01%
• DSCR: 1.80
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $179,496
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 Willard St	0.15mi	3/1.0 (+1)	1,084 (-2%)	2mo	$122,500	$113	83
3615 Delancy St	0.00mi	2/1.0	1,228 (+11%)	1mo	$85,000	$69	81
3311 Beck St	0.15mi	2/1.0	1,014 (-8%)	7mo	$128,700	$127	73
809 Sykes Ave	0.32mi	3/1.0 (+1)	1,126 (+2%)	7mo	$182,000	$162	71
2805 Kentwood St	0.45mi	3/1.5 (+1)	1,102 (-0%)	1mo	$195,000	$177	70
701 Lowdermilk St	0.56mi	3/1.0 (+1)	1,124 (+1%)	8mo	$172,500	$153	60
702 Sykes Ave	0.23mi	3/2.5 (+1)	1,206 (+9%)	11mo	$190,000	$158	54
303 W Camel St	0.74mi	2/2.0	1,058 (-4%)	5mo	$195,000	$184	50
4004 Wooddale Ln	0.67mi	3/1.0 (+1)	983 (-11%)	1mo	$138,000	$140	44
1209 Willard St	0.68mi	3/2.5 (+1)	1,150 (+4%)	9mo	$229,900	$200	43
213 Guerrant St	0.39mi	3/2.0 (+1)	1,260 (+14%)	10mo	$235,000	$187	42
2128 Textile Dr	0.70mi	3/2.0 (+1)	1,040 (-6%)	12mo	$188,800	$182	38

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 · 3.83% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.42×
• Total profit: $9,947
• Equity at exit: $12,674

10-year hold

• IRR: 20.2%
• Equity multiple: 2.76×
• Total profit: $41,996
• 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 27405

• Home prices YoY: -20.6%
• Rents YoY: 3.8%
• Active inventory: 381
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,152 high
• Mortgage (P&I): −$446
• Tax from tax record: −$72 /mo · $863/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $357

Break-even live

Break-even rent $700

Max offer price $85,000

Occupancy floor 64%

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 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 Holt Ave Greensboro, NC	2.0	1.0	1000	$1,175	$1.18	23d	1	0.15mi
3320 Beck St Greensboro, NC	1.0	1.0	1100	$800	$0.73	23d	1	0.16mi
610 Holt Ave Greensboro, NC	2.0	1.0	1092	$1,300	$1.19	14d	1	0.16mi
3301 Beck St Greensboro, NC	1.0	1.0	1000	$800	$0.80	23d	1	0.18mi
3314 Beck St Greensboro, NC	1.0	1.0	1100	$950	$0.86	23d	1	0.19mi
703 Sykes Ave Greensboro, NC	2.0	1.0	923	$1,295	$1.40	23d	1	0.24mi
2509 Pinnix St Unit B Greensboro, NC	3.0	2.0	860	$995	$1.16	23d	1	0.32mi
810 Elwell Ave Greensboro, NC	3.0	2.0	1280	$1,500	$1.17	14d	1	0.42mi
311 Guerrant St Greensboro, NC	3.0	1.0	1025	$1,295	$1.26	23d	1	0.48mi
3900 Hahns Ln Greensboro, NC	2.0	1.0	880	$955	$1.09	14d	8	0.68mi
1608 McPherson St Greensboro, NC	3.0	2.0	1100	$1,450	$1.32	23d	1	0.82mi
110 S Raleigh St Greensboro, NC	3.0	1.0	1000	$1,200	$1.20	23d	1	0.83mi
112 S Raleigh St Greensboro, NC	3.0	1.0	1000	$1,200	$1.20	23d	1	0.83mi
4214 Kildare Dr Greensboro, NC	3.0	1.5	1329	$1,450	$1.09	23d	1	0.87mi
4216 Parker St Unit C Greensboro, NC	2.0	1.0	800	$825	$1.03	21d	1	0.88mi
209 Woodnell St Unit H Greensboro, NC	2.0	1.0	750	$975	$1.30	18d	1	0.91mi
1622 Mcpherson St Unit 1912 Greensboro, NC	2.0	1.0	860	$850	$0.99	23d	1	0.94mi
210 Woodnell St Unit G Greensboro, NC	2.0	1.0	750	$975	$1.30	23d	1	0.96mi
2011 Lutheran St Greensboro, NC	2.0	1.0	800	$985	$1.23	23d	1	0.97mi
1504 Autumn Dr Unit A Greensboro, NC	2.0	1.0	820	$895	$1.09	23d	1	1.00mi
1604 Textile Dr Greensboro, NC	2.0	1.0	930	$1,245	$1.34	23d	1	1.01mi
129 Aunt Mary Ave Unit A Greensboro, NC	2.0	1.0	800	$950	$1.19	23d	1	1.01mi
306 Murraylane Rd Greensboro, NC	3.0	2.0	1330	$1,815	$1.36	14d	1	1.03mi
1508 Tucker St Greensboro, NC	2.0	2.0	875	$1,195	$1.37	23d	1	1.03mi
1603 Autumn Dr Apt A Greensboro, NC	2.0	1.0	820	$925	$1.13	14d	1	1.05mi
201 Huffman St Greensboro, NC	3.0	2.0	1350	$1,000	$0.74	14d	1	1.08mi
4302 Belfield Dr Greensboro, NC	3.0	2.0	1300	$1,755	$1.35	23d	1	1.14mi
522 Banner Ave Greensboro, NC	3.0	2.0	822	$1,600	$1.95	23d	1	1.18mi
600 Banner Ave Unit 614-B Greensboro, NC	2.0	1.5	850	$850	$1.00	23d	1	1.22mi
8 Kings Forest Ct Greensboro, NC	3.0	2.0	1120	$1,650	$1.47	23d	1	1.22mi
2001 Spencer St Greensboro, NC	2.0	1.0	720	$1,295	$1.80	23d	1	1.24mi
403 S O Henry Blvd Unit Alexander Homes Greensboro, NC	2.0	1.0	860	$875	$1.02	23d	1	1.35mi
1703 10th St Unit A Greensboro, NC	3.0	1.0	864	$1,075	$1.24	23d	1	1.38mi
503 S O Henry Blvd Greensboro, NC	2.0	1.0	860	$850	$0.99	23d	1	1.39mi

Listing history 3 events

1. 2026-05-24
   status Pending
2. 2026-05-12
   listed Due Diligence Period
3. 2026-05-12
   listed $85,000

ⓘ 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: $863 · $72/mo
• Projected year-2 tax: $863 · $72/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 1/10 Low FEMA zone X (unshaded) · 0% 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 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: $13,827
• − Mortgage interest: −$4,761
• − Property taxes: −$863
• − Insurance: −$425
• − Repairs & maintenance: −$1,106
• − Management: −$1,106
• − Depreciation: −$2,473
• Taxable income: $3,093
• Est. tax owed @ 24.0%: −$742
• After-tax cash flow: $3,545/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): 54,303
• Household income: $47,431
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2517.0

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 0.62)
• Race & ethnicity: Black 57% White 20% Hispanic / Latino 14% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Romanian 1% Ukrainian 1% Italian 1%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 79% English-only · Spanish 11% Other Asian/Pacific 2% Other Indo-European 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: ▼ -63.02%
• Current HPI: 243.1261
• Rent YoY: ▲ 3.83%
• 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

3 events — show timeline

• 2026-05-24 Pending — Triad MLS
• 2026-05-12 Listed — Triad MLS
• 2026-05-12 Listed $85,000 Triad MLS

Property tax history

+1.5%/yr

Latest (2025): $863 · +0.0% YoY. Source: county tax records.