1005 W Florida St · Greensboro, NC 27403

$184,999

3 bd · 1.5 ba · 1,351 sqft · SingleFamily public records · 25 Days on market

Built 1952 0.29 ac lot Est $219k · 15% 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 +15.5/30.0
• ARV discount +14.5/15.0
• DSCR +4.8/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• 1% rule +3.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Updated brick home on a spacious 0.29-acre lot in Greensboro! 2 bedrooms and 1.5 baths with an incredibly flexible layout. A large den, and a separate flex room offer endless possibilities as additional sleeping areas, a home office, playroom, or guest space. Plenty of room to spread out! Refinished hardwood floors throughout, new LVP in the kitchen, fresh paint, and new light fixtures. Charming built-in shelving adds character you won't find in new construction. Fenced backyard with a large storage shed with electricity, great for a workshop or extra storage. Conveniently located near UNCG, shopping, dining, and easy access to I-40 and I-73. Schedule your tour today!

Key facts

• Large den
• Flexible layout
• Spacious lot

Tags

• SPACIOUS LOT
• FLEXIBLE LAYOUT
• LARGE DEN
• SEPARATE FLEX ROOM
• REFINISHED HARDWOOD FLOORS
• NEW LVP

Property features AI

Finance

• Other: Publicly maintained road
• HOA & community: No homeowners association; Subdivision: Causey

Exterior

• Parking: Field parking
• Security: Deadbolt locks
• Utilities: Public water; Public sewer; Water heater unknown
• Home design: Residential stick/site-built house; One story
• Construction: Built in 1952; Aluminum siding; Brick exterior; Crawl space foundation; Storage structure on property
• Exterior features: Fenced yard; City lot

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Primary on main level
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Primary bedroom on main level; Pulldown attic stairs; Built-in features; Deadbolt locks
• Laundry & utility: Dryer connection

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $76 ($908/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 $151k (18.1% below list).
• Recommended offer: $151k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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 (+2.8%/yr); 67 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).
• This rent runs 31% of the median local income ($58k/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 $1k of loan paydown is wiped out by about $6k 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 25 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $185k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $151,478 (18.1% below list)

Questions for the listing agent

1. Built in 1952 — 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: 0.82% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $218,862
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2002 Kersey St	0.26mi	3/2.0	1,407 (+4%)	2mo	$270,000	$192	77
1318 Oak St	0.39mi	3/1.0	1,345 (-0%)	7mo	$155,000	$115	73
901 Terrell St	0.20mi	3/1.0	1,248 (-8%)	7mo	$189,000	$151	70
312 Craig St	0.69mi	3/2.0	1,361 (+1%)	2mo	$220,000	$162	63
2209 Atlanta St	0.58mi	3/2.0	1,303 (-4%)	3mo	$213,000	$163	63
708 Garrett St	0.38mi	3/2.0	1,192 (-12%)	2mo	$215,000	$180	59
911 Gregory St	0.57mi	4/2.0 (+1)	1,370 (+1%)	8mo	$151,000	$110	58
907 Gregory St	0.59mi	3/2.0	1,247 (-8%)	6mo	$215,000	$172	53
1708 Marion St	0.63mi	3/1.5	1,174 (-13%)	2mo	$125,000	$106	48
1718 Oak St	0.69mi	3/1.5	1,164 (-14%)	1mo	$178,000	$153	44
1701 W Florida St	0.57mi	2/2.0 (-1)	1,183 (-12%)	3mo	$152,000	$128	43
1724 Hertford St	0.71mi	3/2.0	1,157 (-14%)	6mo	$204,900	$177	36

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 · 2.75% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.51×
• Total profit: $-25,610
• Equity at exit: $27,584

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-17,944
• Equity at exit: $15,995

Cash invested: $51,800 (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 27403

• Rents YoY: 2.8%
• Active inventory: 67
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$970
• Tax from tax record: −$74 /mo · $885/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $76

Break-even live

Break-even rent $1,419

Max offer price $184,999

Occupancy floor 90%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
826 W Terrell St Greensboro, NC	3.0	1.0	1084	$1,750	$1.61	23d	1	0.21mi
1406 W Florida St Greensboro, NC	3.0	1.0	1441	$1,750	$1.21	23d	1	0.34mi
1004 Highland Ave Unit A Greensboro, NC	3.0	1.0	1300	$1,250	$0.96	23d	1	0.41mi
811 Dana Pl Greensboro, NC	3.0	1.0	950	$1,250	$1.32	23d	1	0.42mi
1636 Willomore St Greensboro, NC	2.0	1.0	1070	$1,330	$1.24	14d	1	0.46mi
920 Highland Ave Greensboro, NC	2.0	2.0	890	$1,235	$1.39	14d	1	0.50mi
500 Savannah St Greensboro, NC	2.0	1.0–1.5	769	$1,295	$1.68	19d	8	0.58mi
2405 Freeman Mill Rd Greensboro, NC	4.0	2.0	1176	$1,600	$1.36	23d	1	0.60mi
317 Craig St Greensboro, NC	2.0	1.0	1027	$1,275	$1.24	14d	1	0.68mi
2015 Rath St Greensboro, NC	4.0	2.0	1300	$1,600	$1.23	23d	1	0.76mi
2212 Coliseum Blvd Greensboro, NC	3.0	2.0	1044	$1,750	$1.68	14d	1	0.83mi
211 Erwin St Greensboro, NC	3.0	1.5	1130	$1,570	$1.39	23d	1	0.86mi
1620 Spring Garden St Greensboro, NC	2.0	1.0	1080	$1,300	$1.20	23d	1	1.01mi
1630 Spring Garden St Unit 1630-C Greensboro, NC	2.0	1.5	1080	$1,300	$1.20	23d	1	1.02mi
2202 Maywood St Greensboro, NC	3.0	1.0	960	$1,250	$1.30	14d	1	1.05mi
2003 Urban Dr Greensboro, NC	3.0	1.5	1107	$1,495	$1.35	21d	1	1.12mi
1915 Spring Garden St Greensboro, NC	2.0–3.0	2.0–3.0	786	$1,920	$2.44	14d	32	1.18mi
803 Holliday Dr Greensboro, NC	2.0	2.0	1300	$1,680	$1.29	14d	18	1.24mi
1710 Walker Ave Unit A Greensboro, NC	2.0	1.0	900	$1,150	$1.28	23d	1	1.27mi
801 W McGee St #25 Greensboro, NC	2.0	2.0	960	$1,550	$1.61	21d	1	1.30mi
1915 Walker Ave Greensboro, NC	2.0	1.0	1095	$1,049	$0.96	23d	1	1.37mi
238 E Lewis St #302 Greensboro, NC	2.0	2.0	1270	$1,795	$1.41	23d	1	1.45mi

Listing history 6 events

1. 2026-05-19
   status Pending
2. 2026-04-29
   historical Due Diligence Period
3. 2026-04-23
   listed $184,999 Active
4. 2026-01-20
   soldstatus $90,000
5. 1998-02-13
   soldstatus $75,000
6. 1981-10-01
   soldstatus $39,000

ⓘ 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: $885 · $74/mo
• Projected year-2 tax: $1,517 · $126/mo
• Expected delta: +$632/yr (+$53/mo · 71.5%)

ⓘ 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: $18,177
• − Mortgage interest: −$10,363
• − Property taxes: −$885
• − Insurance: −$925
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$5,382
• Taxable loss: −$2,285
• Est. tax savings @ 24.0%: +$548
• After-tax cash flow: $1,457/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): 22,557
• Household income: $57,917
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 1047.0

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 0.65)
• Race & ethnicity: White 52% Black 25% Hispanic / Latino 14% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 86% English-only · Spanish 8% Other Indo-European 2% 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: ▼ -215.63%
• Current HPI: 222.3145
• Rent YoY: ▲ 2.75%
• 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

+374.4% since first listed

6 events — show timeline

• 2026-05-19 Pending — Triad MLS
• 2026-04-29 Contingent — Triad MLS
• 2026-04-23 Listed $184,999 Triad MLS
• 2026-01-20 Sold (Public Records) $90,000 Public Records
• 1998-02-13 Sold (Public Records) $75,000 Public Records
• 1981-10-01 Sold (Public Records) $39,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $885 · -1.0% YoY. Source: county tax records.