301 W Lee St · Mebane, NC 27302

$210,000

4 bd · 2.0 ba · 1,982 sqft · SingleFamily public records · 13 Days on market

Built 1919 0.42 ac lot Est $400k · 48% under ↓ 7% since listing

---

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 +20.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.9/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

Key facts

• Large corner lot
• Living room
• Den

Tags

• HARDWOOD FLOORS
• NEW ROOF
• LARGE CORNER LOT
• L-SHAPED COVERED PORCH
• DEN
• LIVING ROOM

Property features AI

Finance

• Other: Accessible approach with ramp; City street frontage on a public maintained asphalt road
• HOA & community: No association; Community amenities include racquetball, tennis courts, sidewalks and street lights

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electricity connected; Natural gas available; Cable available; Sewer connected; Water connected
• Home design: House; One and one-half stories; Entry through the living room; Property listed as fixer condition
• Construction: Wood siding; Composition roof; Brick/mortar foundation; Built as a house (living area reported as 1,926)
• Exterior features: Covered wrap-around porch; Garden; Rain gutters; Partially wooded lot

Interior

• Kitchen: Electric range
• Bedrooms: 4 bedrooms total; 1 bedroom on the main level
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ductless heating; Space heater; Wall-mounted cooling units
• Interior features: Eat-in kitchen; Storage; Three fireplaces located in the den, dining room and living room
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/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 $208k (1.1% below list).
• Recommended offer: $208k (1.1% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.0% in Mebane — 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 73/100 on livability (#71 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute 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: Eastern Alamance High (math 61% / reading 61%, grade C+, #202 of 535 statewide, top 39%, 1,256 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Zoned-school proficiency averages 61% at this address vs 35% district-wide (+26 pts) — the actual schools serving this property are materially stronger than the Alamance-Burlington Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.7%/yr); 443 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,466 units permitted in Alamance County in 2024 (403 in 5+ unit buildings).
• This rent runs 31% of the median local income ($80k/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.
• 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.
• 4 sale attempts; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% 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 $207,603 (1.1% below list)

Questions for the listing agent

1. Built in 1919 — 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 D 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: 0.99% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.46%
• DSCR: 1.24
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $400,364
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 W Lee St	0.00mi	4/2.0	1,926 (-3%)	1mo	$175,000	$91	95
605 W Holt St	0.38mi	4/2.5	1,959 (-1%)	8mo	$430,000	$219	72
505 Hawfields Rd	0.42mi	4/2.5	2,056 (+4%)	1mo	$309,750	$151	71
415 Stonewall Dr	0.51mi	4/2.5	2,033 (+3%)	9mo	$410,000	$202	63
220 Beauregard Ln	0.47mi	3/2.0 (-1)	1,878 (-5%)	3mo	$426,300	$227	62
1005 Stuart Dr	0.69mi	4/2.5	1,965 (-1%)	6mo	$390,000	$198	59
211 N Ninth St	0.75mi	4/2.0	2,084 (+5%)	1mo	$479,750	$230	56
402 W Clay St	0.35mi	5/4.5 (+1)	2,195 (+11%)	5mo	$420,000	$191	47
513 N Carr St	0.70mi	3/2.0 (-1)	1,847 (-7%)	8mo	$392,950	$213	45
101 E Crawford St	0.58mi	4/1.5	1,730 (-13%)	9mo	$240,000	$139	42
111 N Sixth St	0.62mi	3/2.5 (-1)	1,691 (-15%)	0mo	$385,000	$228	39
403 E Mcpherson Dr	0.66mi	4/2.0	2,273 (+15%)	8mo	$250,000	$110	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 · 1.67% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-19,739
• Equity at exit: $31,312

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-6,260
• Equity at exit: $18,157

Cash invested: $58,800 (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 27302

• Home prices YoY: -32.8%
• Rents YoY: 1.7%
• Active inventory: 443
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,076 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$184 /mo · $2,203/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $268

Break-even live

Break-even rent $1,737

Max offer price $210,000

Occupancy floor 82%

Sensitivity live

Price	-10% $387	-5% $327	+0% $268	+5% $208	+10% $149
Rent	-10% $104	-5% $186	+0% $268	+5% $350	+10% $432
Rate	-1.0pp $373	-0.5pp $321	base $268	+0.5pp $213	+1.0pp $158

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
180 N 5th St Mebane, NC	3.0	1.0–2.0	961	$1,935	$2.01	14d	17	0.46mi
200 Parker Ln Mebane, NC	3.0	2.5	1593	$1,895	$1.19	22d	1	1.12mi
189 Parker Ln Mebane, NC	3.0	2.5	1500	$1,995	$1.33	14d	1	1.12mi
101 Carden Pl Mebane, NC	1.0–3.0	1.0–2.0	1029	$1,645	$1.60	14d	27	1.13mi
836 Pryor St Mebane, NC	3.0	2.5	1760	$1,995	$1.13	24d	1	1.14mi
1026 Abbott St Mebane, NC	3.0	2.5	2222	$2,325	$1.05	24d	1	1.25mi

Listing history 10 events

1. 2026-05-10
   status Pending

   Show marketing remark (352 chars)

   Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

2. 2026-05-10
   status Pending Accepting Backup Offers 352-char remark

   Show marketing remark (352 chars)

   Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

3. 2026-05-04
   price $210,000 352-char remark

   Show marketing remark (352 chars)

   Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

4. 2026-05-04
   price $210,000

   Show marketing remark (352 chars)

   Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

5. 2026-05-01
   status Active 352-char remark

   Show marketing remark (352 chars)

   Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

6. 2026-05-01
   status Active

   Show marketing remark (352 chars)

   Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

7. 2026-04-25
   status Pending

   Show marketing remark (352 chars)

   Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

8. 2026-04-25
   status Pending Accepting Backup Offers 352-char remark

   Show marketing remark (352 chars)

   Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

9. 2026-04-21
   listed $225,000 Active

   Show marketing remark (352 chars)

   Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

10. 2026-04-21
    listed $225,000 Active 352-char remark

    Show marketing remark (352 chars)

    Great Character! Just needs someone with Good Vision! Features Hardwood Floors, New Roof, Large Corner Lot & a L-Shaped Covered Porch! Den & Living Room. Great Staircase & Front / Side Porch. Just 3 Blocks from Downtown MEBANE! Shopping, Restaurants, Night-Life... Space Heaters & Window AC. Investor Backet Out Without a Inspection!!!

ⓘ 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: $2,203 · $184/mo
• Projected year-2 tax: $2,203 · $184/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,912
• − Mortgage interest: −$11,763
• − Property taxes: −$2,203
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,993
• − Management: −$1,993
• − Depreciation: −$6,109
• Taxable loss: −$199
• Est. tax savings @ 24.0%: +$48
• After-tax cash flow: $3,260/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: 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 — Mebane

• Score: 73/100
• State rank: #71
• US rank: #5365

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mebane, NC
• County: Alamance County · 173,369 people
• City population: 35,418
• Metro: Burlington, NC
• Population (ZIP): 35,418
• Household income: $79,819
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 1122.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Black 18% Hispanic / Latino 10% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 2% Romanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 86% English-only · Spanish 9% Other Asian/Pacific 1% Tagalog/Filipino 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: ▼ -102.06%
• Current HPI: 208.8854
• Rent YoY: ▲ 1.67%
• 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

-6.7% since first listed

10 events — show timeline

• 2026-05-10 Pending — TMLS
• 2026-05-10 Pending — Triad MLS
• 2026-05-04 Price Changed $210,000 Triad MLS
• 2026-05-04 Price Changed $210,000 TMLS
• 2026-05-01 Relisted — Triad MLS
• 2026-05-01 Relisted — TMLS
• 2026-04-25 Pending — TMLS
• 2026-04-25 Pending — Triad MLS
• 2026-04-21 Listed $225,000 Triad MLS
• 2026-04-21 Listed $225,000 TMLS

Property tax history

+11.6%/yr

Latest (2025): $2,203 · +3.0% YoY. Source: county tax records.