521 Martin St · Greensboro, NC 27406

$89,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 12 Days on market

Built 1935 5,227 sqft lot Est $128k · 30% under

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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

Investor Alert! Two parcels offered below tax value in a convenient Greensboro location bordering the campus of Bennett College. Situated 5 minutes or less from each: Downtown Greensboro, North Carolina A & T State University, and UNCG! This property sits in a storied and evolving corridor near The Historic Magnolia House and offers a view of the Bennett College water tower, a recognizable local landmark! With two parcels included and zoning RS-5, this property presents an intriguing opportunity for redevelopment, investment, or future residential use in a location surrounded by universities, heritage, and ongoing revitalization. Important: Do NOT enter the structure. The home is con

Key facts

• 5,227 sq ft lot
• Built 1935
• Listed 12 days

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Driveway; On-street parking
• Utilities: Public sewer; Electric water heater
• Home design: Residential stick/site-built house; One level; Built in 1935; Existing structure
• Construction: Brick and vinyl siding exterior; Crawl space foundation
• Exterior features: Public water; No pool; Publicly maintained road

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Heating fuel: Oil; Heating: Oil (see remarks); Cooling: Other
• Interior features: Primary bedroom on the main level
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Cap rate 12.6% 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; 26 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 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 + 2.2% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1935 — 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: 1.44% ✓
• Cap rate: 12.58%
• Cash-on-cash: 22.45%
• DSCR: 2.00
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $127,680
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
521 Martin St	0.00mi	2/1.0	840 (0%)	1mo	$65,000	$77	99
703 Law St	0.51mi	3/1.0 (+1)	824 (-2%)	5mo	$137,000	$166	64
1011 S Pearson St	0.39mi	2/1.0	768 (-9%)	17mo	$110,000	$143	53
620 Julian St	0.50mi	3/1.0 (+1)	784 (-7%)	9mo	$138,500	$177	53
907 Logan St	0.61mi	3/1.0 (+1)	880 (+5%)	9mo	$130,000	$148	51
817 Tuscaloosa St	0.65mi	2/1.0	720 (-14%)	4mo	$160,000	$222	42
800 Bluford St	0.60mi	3/1.0 (+1)	960 (+14%)	3mo	$223,500	$233	41
1207 Gorrell St	0.60mi	2/1.5	926 (+10%)	23mo	$141,000	$152	34
306 Regan St	0.54mi	3/1.0 (+1)	953 (+14%)	21mo	$140,000	$147	30

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: 14.4%
• Equity multiple: 1.57×
• Total profit: $14,201
• Equity at exit: $13,270

10-year hold

• IRR: 22.5%
• Equity multiple: 2.86×
• Total profit: $46,276
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,283 high
• Mortgage (P&I): −$467
• Tax from tax record: −$44 /mo · $522/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $466

Break-even live

Break-even rent $693

Max offer price $89,000

Occupancy floor 59%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
710 Reid St Greensboro, NC	3.0	1.0	925	$1,395	$1.51	14d	1	0.28mi
1001 E Bragg St Apt B Greensboro, NC	2.0	1.0	700	$925	$1.32	14d	1	0.34mi
321 S Elm St Greensboro, NC	1.0–2.0	1.0–2.0	950	$1,787	$1.88	14d	8	0.48mi
405 E Whittington St Greensboro, NC	2.0	1.0	700	$995	$1.42	23d	1	0.62mi
800 Arlington St Unit A Greensboro, NC	2.0	1.0	650	$1,250	$1.92	14d	1	0.62mi
1003 Martin Luther King Junior Dr Unit B Greensboro, NC	1.0	1.0	580	$595	$1.03	23d	1	0.66mi
201 N Elm St Greensboro, NC	2.0	2.0	1046	$2,298	$2.20	14d	2	0.66mi
909 Tuscaloosa St Greensboro, NC	2.0	1.0	840	$1,195	$1.42	23d	1	0.68mi
220 W Market St Greensboro, NC	1.0	1.0	858	$1,200	$1.40	23d	2	0.70mi
702 Ross Ave Greensboro, NC	2.0	1.0	672	$1,200	$1.79	23d	1	0.71mi
904 Stephens St Greensboro, NC	3.0	1.0	1052	$1,490	$1.42	14d	1	0.86mi
503 S O Henry Blvd Greensboro, NC	2.0	1.0	860	$850	$0.99	23d	1	0.94mi
403 S O Henry Blvd Unit Alexander Homes Greensboro, NC	2.0	1.0	860	$875	$1.02	23d	1	0.95mi
801 W McGee St #25 Greensboro, NC	2.0	2.0	960	$1,550	$1.61	21d	1	0.96mi
451 N Eugene St Greensboro, NC	1.0–2.0	1.0–2.0	1021	$2,309	$2.26	14d	6	1.01mi
711 Summit Ave Greensboro, NC	1.0	1.0	700	$1,025	$1.46	23d	1	1.01mi
1112 Stephens St Greensboro, NC	2.0	1.0	744	$1,250	$1.68	19d	1	1.03mi
404 W Smith St Greensboro, NC	1.0–2.0	1.0–2.0	803	$1,719	$2.14	14d	8	1.09mi
2007 S Benbow Rd Greensboro, NC	3.0	1.0	960	$1,100	$1.15	23d	1	1.18mi
516 S Mendenhall St Unit 512-G Greensboro, NC	2.0	1.0	812	$1,299	$1.60	14d	1	1.22mi
2011 Lutheran St Greensboro, NC	2.0	1.0	800	$985	$1.23	23d	1	1.24mi
2001 Spencer St Greensboro, NC	2.0	1.0	720	$1,295	$1.80	23d	1	1.25mi
402 Winston St Greensboro, NC	2.0	1.0	640	$1,150	$1.80	23d	1	1.38mi
2117 Tuscaloosa St Greensboro, NC	3.0	1.0	1000	$1,600	$1.60	23d	1	1.38mi
112 S Raleigh St Greensboro, NC	3.0	1.0	1000	$1,200	$1.20	23d	1	1.40mi
110 S Raleigh St Greensboro, NC	3.0	1.0	1000	$1,200	$1.20	23d	1	1.40mi

Listing history 3 events

1. 2026-04-23
   status Pending
2. 2026-04-14
   historical Due Diligence Period
3. 2026-04-10
   listed $89,000 Active

ⓘ 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: $522 · $44/mo
• Projected year-2 tax: $730 · $61/mo
• Expected delta: +$208/yr (+$17/mo · 39.7%)

ⓘ 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 6/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $15,396
• − Mortgage interest: −$4,985
• − Property taxes: −$522
• − Insurance: −$445
• − Repairs & maintenance: −$1,232
• − Management: −$1,232
• − Depreciation: −$2,589
• Taxable income: $4,391
• Est. tax owed @ 24.0%: −$1,054
• After-tax cash flow: $4,541/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

3 events — show timeline

• 2026-04-23 Pending — Triad MLS
• 2026-04-14 Contingent — Triad MLS
• 2026-04-10 Listed $89,000 Triad MLS

Property tax history

+3.8%/yr

Latest (2025): $522 · -1.0% YoY. Source: county tax records.