134 Towne View Trl · Garner, NC 27529

$239,500

3 bd · 2.0 ba · 1,424 sqft · Townhouse public records · 51 Days on market

Built 1984 2,178 sqft lot Est $305k · 21% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.7/30.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• 1% rule +3.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely 3BD 2BA townhome in Garner! Entry foyer leads to LR w/ corner wood burning fireplace. First floor bedroom can be used as master. Walk-in closet & access to in-suite bath from bedroom, as well as entry hall. French doors from LR leads to spacious screen porch out back. Spacious galley kitchen with lots of cabinets & breakfast room with bay window. Large 2nd & 3rd bedrooms up.

Key facts

• Quartz countertops
• Desirable location
• Updated kitchen

Tags

• PRIMARY BEDROOM MAIN LEVEL
• UPDATED KITCHEN
• QUARTZ COUNTERTOPS
• TILE BACKSPLASH
• DESIRABLE LOCATION

Property features AI

Finance

• Other: Lot size approximately 0.05 acres; Zoning: MF-A
• HOA & community: No association

Exterior

• Parking: Open parking (2 spaces) in a parking lot
• Utilities: Public water; Public sewer
• Home design: Townhouse; Two levels; Ownership type: Townhouse
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built as a townhouse
• Exterior features: Porch (screened)

Interior

• Bedrooms: 3 bedrooms total; 1 bedroom on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Fireplace in the family room; Washer hookup; Electric dryer hookup
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $240k.

Deal economics

• At list price, monthly cash flow is $-70 ($-840/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (19.7% below list).
• Recommended offer: $192k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.3% in Garner — 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 76/100 on livability (#35 in NC, #3,421 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, cost of living A-; Watch: amenities D, crime F.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: East Garner Middle (math 23% / reading 33%, grade F, #360 of 475 statewide, top 77%, 1,186 students, 73% FRL); Garner High (math 32% / reading 56%, grade F, #367 of 535 statewide, top 69%, 1,683 students, 50% FRL) — zoned schools average 61% FRL vs 30% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 56% district-wide (-20 pts) — the specific schools serving this property underperform the Wake County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.1%/yr); 645 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).

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.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; list at $240k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,280 (19.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.80% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $304,736
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
151 Roebuck Ln	0.74mi	3/2.5	1,633 (+15%)	14mo	$350,000	$214	27

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 · 1.15% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.30×
• Total profit: $-46,792
• Equity at exit: $35,710

10-year hold

• IRR: -18.0%
• Equity multiple: 0.10×
• Total profit: $-60,427
• Equity at exit: $20,708

Cash invested: $67,060 (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 27529

• Rents YoY: 1.1%
• Active inventory: 645
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,923 high
• Mortgage (P&I): −$1,256
• Tax from tax record: −$233 /mo · $2,799/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $-70

Break-even live

Break-even rent $2,011

Max offer price $227,138

Occupancy floor 99%

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: $59,875
• Closing costs: $7,185
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1425 Aversboro Rd Garner, NC	2.0–3.0	2.0	1262	$1,900	$1.51	14d	2	0.11mi
725 Heather Park Dr Garner, NC	1.0–3.0	1.0–2.0	1012	$1,560	$1.54	1d	14	0.33mi
102 Stowe Pl Unit B Garner, NC	2.0	1.5	1008	$1,375	$1.36	3d	1	0.65mi
1105 Timber Dr Unit A Garner, NC	3.0	1.5	1200	$1,550	$1.29	3d	1	0.66mi
104 Stowe Pl Unit A Garner, NC	2.0	1.5	1100	$1,395	$1.27	23d	1	0.66mi
415 Aversboro Rd Garner, NC	4.0	2.5	1728	$1,950	$1.13	23d	1	0.79mi
205 November St Garner, NC	3.0	2.0	1695	$1,995	$1.18	23d	1	1.05mi
617 Springview Trl Garner, NC	3.0	2.5	1489	$2,180	$1.46	23d	1	1.06mi
1517 Wiljohn Rd Garner, NC	3.0	2.0	1688	$3,000	$1.78	23d	1	1.08mi
400 Evolve Dr Garner, NC	1.0–3.0	1.0–2.0	990	$1,964	$1.98	1d	19	1.26mi

Listing history 17 events

1. 2026-04-16
   price $239,500
2. 2026-04-03
   listed $254,500 Active
3. 2011-09-14
   soldstatus $94,000 402-char remark

   Show marketing remark (402 chars)

   Lovely 3BD 2BA townhome in Garner! Entry foyer leads to LR w/ corner wood burning fireplace. First floor bedroom can be used as master. Walk-in closet & access to in-suite bath from bedroom, as well as entry hall. French doors from LR leads to spacious screen porch out back. Spacious galley kitchen with lots of cabinets & breakfast room with bay window. Large 2nd & 3rd bedrooms up.

4. 2011-09-14
   soldstatus $94,000 402-char remark

   Show marketing remark (402 chars)

   Lovely 3BD 2BA townhome in Garner! Entry foyer leads to LR w/ corner wood burning fireplace. First floor bedroom can be used as master. Walk-in closet & access to in-suite bath from bedroom, as well as entry hall. French doors from LR leads to spacious screen porch out back. Spacious galley kitchen with lots of cabinets & breakfast room with bay window. Large 2nd & 3rd bedrooms up.

5. 2011-09-14
   soldstatus $94,000

   Show marketing remark (402 chars)

   Lovely 3BD 2BA townhome in Garner! Entry foyer leads to LR w/ corner wood burning fireplace. First floor bedroom can be used as master. Walk-in closet & access to in-suite bath from bedroom, as well as entry hall. French doors from LR leads to spacious screen porch out back. Spacious galley kitchen with lots of cabinets & breakfast room with bay window. Large 2nd & 3rd bedrooms up.

6. 2011-08-26
   historical 402-char remark

   Show marketing remark (402 chars)

   Lovely 3BD 2BA townhome in Garner! Entry foyer leads to LR w/ corner wood burning fireplace. First floor bedroom can be used as master. Walk-in closet & access to in-suite bath from bedroom, as well as entry hall. French doors from LR leads to spacious screen porch out back. Spacious galley kitchen with lots of cabinets & breakfast room with bay window. Large 2nd & 3rd bedrooms up.

7. 2010-10-04
   listed $104,900 402-char remark

   Show marketing remark (402 chars)

   Lovely 3BD 2BA townhome in Garner! Entry foyer leads to LR w/ corner wood burning fireplace. First floor bedroom can be used as master. Walk-in closet & access to in-suite bath from bedroom, as well as entry hall. French doors from LR leads to spacious screen porch out back. Spacious galley kitchen with lots of cabinets & breakfast room with bay window. Large 2nd & 3rd bedrooms up.

8. 2010-10-04
   listed $104,900 402-char remark

   Show marketing remark (402 chars)

   Lovely 3BD 2BA townhome in Garner! Entry foyer leads to LR w/ corner wood burning fireplace. First floor bedroom can be used as master. Walk-in closet & access to in-suite bath from bedroom, as well as entry hall. French doors from LR leads to spacious screen porch out back. Spacious galley kitchen with lots of cabinets & breakfast room with bay window. Large 2nd & 3rd bedrooms up.

9. 2005-08-22
   historical
10. 2005-05-12
    listed $104,900
11. 2000-10-05
    soldstatus $93,500
12. 2000-10-05
    soldstatus $94,000
13. 2000-08-12
    listed $95,500
14. 1999-06-21
    soldstatus $100,000
15. 1997-09-08
    soldstatus $92,500
16. 1994-07-19
    soldstatus $75,000
17. 1984-12-14
    soldstatus $57,000

ⓘ 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: $2,799 · $233/mo
• Projected year-2 tax: $2,799 · $233/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,074
• − Mortgage interest: −$13,416
• − Property taxes: −$2,799
• − Insurance: −$1,198
• − Repairs & maintenance: −$1,846
• − Management: −$1,846
• − Depreciation: −$6,967
• Taxable loss: −$4,997
• Est. tax savings @ 24.0%: +$1,199
• After-tax cash flow: $360/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: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Garner

• Score: 76/100
• State rank: #35
• US rank: #3421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garner, NC
• County: Wake County · 1,216,256 people
• City population: 55,242
• Metro: Raleigh-Cary, NC
• Population (ZIP): 55,242
• Household income: $85,716
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 1455.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Black 25% Hispanic / Latino 13% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 87% English-only · Spanish 11% Other Indo-European 1%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -241.30%
• Current HPI: 238.8492
• Rent YoY: ▲ 1.15%
• Metro: Raleigh-Cary, 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

+320.2% since first listed

17 events — show timeline

• 2026-04-16 Price Changed $239,500 TMLS
• 2026-04-03 Listed $254,500 TMLS
• 2011-09-14 Sold (Public Records) $94,000 Public Records
• 2011-09-14 Sold (MLS) $94,000 AMLSNC
• 2011-09-14 Sold (MLS) $94,000 TMLS
• 2011-08-26 Listing Removed — TMLS
• 2010-10-04 Listed $104,900 AMLSNC
• 2010-10-04 Listed $104,900 TMLS
• 2005-08-22 Listing Removed — TMLS
• 2005-05-12 Listed $104,900 TMLS
• 2000-10-05 Sold (Public Records) $94,000 Public Records
• 2000-10-05 Sold (MLS) $93,500 TMLS
• 2000-08-12 Listed $95,500 TMLS
• 1999-06-21 Sold (Public Records) $100,000 Public Records
• 1997-09-08 Sold (Public Records) $92,500 Public Records
• 1994-07-19 Sold (Public Records) $75,000 Public Records
• 1984-12-14 Sold (Public Records) $57,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,799 · +0.3% YoY. Source: county tax records.