1954 Lakeview Rd · Asheboro, NC 27203

$800,000

None bd · None ba · — sqft · MultiFamily · 73 Days on market

Built 1979 Fair condition 0.48 ac lot ↓ 3% 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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Schools +2.6/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 10 units. estimate disagrees with records

Listing remarks

Expand your portfolio w/ this stabilized, income-producing asset at 1954 Lakeview Rd. This impressive 10-unit complex is fully occupied & consists of uniform 1-bedroom, 1-bathroom units, providing a streamlined management experience & consistent demand. Property currently generates monthly rental income of $7,739, resulting in substantial gross annual income of $92,868. W/ 100% occupancy & a mix of established & new leases, property offers immediate, reliable cash flow from day one. The standardized layouts allow efficient turnovers and simplified maintenance, ideal for investor seeking a turnkey multi-family addition. Financial details, including a full Profit &

Key facts

• 0.48 acre lot
• Built 1979
• Listed 73 days

Property features AI

Finance

• Other: Located on Lakeview Rd near N. Fayetteville St (directions: N. Fayetteville St, right onto Central Falls, left onto Lakeview Rd. Apartment building on the right.)
• HOA & community: No association

Exterior

• Parking: Paved parking
• Utilities: Public sewer; Electric water heater
• Home design: Residential income property; Apartment building; Built in 1979
• Construction: Built in 1979
• Exterior features: Paved parking area; Public water

Interior

• Heating & cooling: Baseboard heating (electric); Window AC units; Electric water heater
• Interior features: No basement

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $800k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $211/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $800k).
• Recommended offer: $752k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.9% in Asheboro — 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 72/100 on livability (#85 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime F, amenities F.
• Asheboro City Schools (town): math 29% / reading 33% proficiency, ranked #145 of 178 in NC (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.8%/yr); 91 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 789 units permitted in Randolph County in 2024 (168 in 5+ unit buildings).
• At $9,664/mo this rent would consume 250% of the median local household income ($46k/yr) (locally 1201% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Randolph County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $224k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($752k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% 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 $752,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.28%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1958 Lakeview Rd	0.02mi	—/—	—	1mo	$350,000	—	86

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 · 3.8% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.06×
• Total profit: $12,480
• Equity at exit: $119,283

10-year hold

• IRR: 11.9%
• Equity multiple: 1.97×
• Total profit: $216,873
• Equity at exit: $69,169

Cash invested: $224,000 (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 27203

• Rents YoY: 3.8%
• Active inventory: 91
• Price-to-rent: 69.0×

Monthly cashflow live

• Estimated rent: $9,664 high
• Mortgage (P&I): −$4,195
• Tax est. 1.5%: −$1,000 /mo · $12,000/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,029
• Net cashflow: $2,106

Break-even live

Break-even rent $6,998

Max offer price $800,000

Occupancy floor 73%

Sensitivity live

Price	-10% $2,659	-5% $2,382	+0% $2,106	+5% $1,830	+10% $1,553
Rent	-10% $1,342	-5% $1,724	+0% $2,106	+5% $2,488	+10% $2,869
Rate	-1.0pp $2,509	-0.5pp $2,309	base $2,106	+0.5pp $1,899	+1.0pp $1,688

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$9,660
Total (10 units)			$9,664

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 E Central Ave Asheboro, NC	2.0	1.5	940	$999	$1.06	15d	2	0.07mi
723 Old Liberty Rd Asheboro, NC	2.0	1.5	1160	$999	$0.86	22d	1	0.07mi
611 E Central Ave Asheboro, NC	2.0	1.5	720	$999	$1.39	15d	1	0.10mi
1827 Levance St Asheboro, NC	3.0	1.5	—	$1,400	—	15d	1	0.23mi
404 Poplar St Unit A Asheboro, NC	2.0	1.0	800	$1,095	$1.37	24d	1	0.67mi
1901 N Fayetteville St Asheboro, NC	1.0–2.0	1.0–2.0	742	$1,425	$1.92	15d	13	0.71mi
238 Underwood St Asheboro, NC	2.0	1.0	968	$1,400	$1.45	24d	1	0.82mi
1602 Humble St Unit 201 Asheboro, NC	2.0	1.5	—	$1,025	—	24d	1	0.86mi
1240 Old Liberty Rd Apt 5 Asheboro, NC	2.0	1.0	—	$1,050	—	15d	1	0.88mi
1492 Oriole Dr Asheboro, NC	3.0	2.5	—	$1,695	—	22d	1	0.90mi
1240 Old Liberty Rd Unit 12 Asheboro, NC	1.0	1.0	—	$800	—	15d	1	0.92mi
1818 Saddlewood Ct Unit A Asheboro, NC	2.0	1.5	—	$1,095	—	24d	1	1.01mi
2220 N Fayetteville St Asheboro, NC	2.0	1.0	700	$850	$1.21	22d	1	1.03mi
2201 N Fayetteville St Asheboro, NC	2.0	1.5–2.0	1030	$1,350	$1.31	15d	6	1.06mi
2280 N Fayetteville St Asheboro, NC	1.0–3.0	1.0–2.0	1085	$1,349	$1.24	15d	5	1.18mi
2276 N Fayetteville St Asheboro, NC	3.0	2.0	1370	$1,599	$1.17	15d	1	1.19mi
2275 N Fayetteville St Asheboro, NC	2.0	2.0	1040	$1,299	$1.25	15d	1	1.23mi
2040 Carl Dr Asheboro, NC	2.0	1.0	—	$875	—	15d	1	1.25mi
100 Ashewood Cir Asheboro, NC	2.0	1.0	538	$1,183	$2.20	15d	6	1.27mi

Listing history 18 events

1. 2026-06-21
   days on market $800,000 Active 73 DOM
2. 2026-06-18
   days on market $800,000 Active 70 DOM
3. 2026-06-17
   days on market $800,000 Active 69 DOM
4. 2026-06-16
   days on market $800,000 Active 68 DOM
5. 2026-06-15
   days on market $800,000 Active 67 DOM
6. 2026-06-14
   days on market $800,000 Active 65 DOM
7. 2026-06-10
   days on market $800,000 Active 62 DOM
8. 2026-06-09
   days on market $800,000 Active 61 DOM
9. 2026-06-08
   days on market $800,000 Active 60 DOM
10. 2026-06-07
    days on market $800,000 Active 59 DOM
11. 2026-06-05
    days on market $800,000 Active 56 DOM
12. 2026-06-03
    days on market $800,000 Active 55 DOM
13. 2026-06-02
    days on market $800,000 Active 54 DOM
14. 2026-06-01
    days on market $800,000 Active 53 DOM
15. 2026-05-31
    days on market $800,000 Active 52 DOM
16. 2026-05-31
    days on market $800,000 Active 51 DOM
17. 2026-05-06
    price $800,000
18. 2026-04-09
    listed $825,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $115,968
• − Mortgage interest: −$44,812
• − Property taxes: −$12,000
• − Insurance: −$4,000
• − Repairs & maintenance: −$9,277
• − Management: −$9,277
• − Depreciation: −$23,273
• Taxable income: $13,328
• Est. tax owed @ 24.0%: −$3,199
• After-tax cash flow: $22,073/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This 10-unit multi-family property requires significant repairs and maintenance, including a new roof, exterior siding and paint, and landscaping. These updates will improve the property's condition and increase its value for both resale and rental.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding and paint appear to be in poor condition, with visible wear and tear.
• Major landscaping — The landscaping and curb appeal appear to be in poor condition, with overgrown grass and unkempt areas.

Value-add opportunities

• Both repair and replace roof — A new roof will improve the overall condition of the property and increase its value for both resale and rental.
• Both repair and replace exterior siding and paint — A new exterior siding and paint job will improve the curb appeal and overall condition of the property, increasing its value for both resale and rental.
• Both landscaping and curb appeal — A well-maintained and landscaped property will improve its curb appeal and overall condition, increasing its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding and paint appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
landscaping · The landscaping and curb appeal appear to be in poor condition, with overgrown grass and unkempt areas.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both repair and replace roof — A new roof will improve the overall condition of the property and increase its value for both resale and rental. ↑
• Both repair and replace exterior siding and paint — A new exterior siding and paint job will improve the curb appeal and overall condition of the property, increasing its value for both resale and rental. ↑
• Both landscaping and curb appeal — A well-maintained and landscaped property will improve its curb appeal and overall condition, increasing its value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Asheboro City Schools
• NCES district ID: 3700240
• Math proficiency: 29% ▼ -7.00%
• Reading proficiency: 33% ▼ -4.00%
• Median HH income: $35,167
• Composite: 25.6/100
• National rank: #7419
• State rank: #145 of 178 in NC

Livability — Asheboro

• Score: 72/100
• State rank: #85
• US rank: #5921

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Asheboro, NC
• County: Randolph County · 81,617 people
• City population: 60,171
• Metro: Greensboro-High Point, NC
• Population (ZIP): 23,224
• Household income: $46,336
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 1201.0

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 142,640 people
• By 2030: 140,911 · -1.2%
• By 2040: 135,692 · -4.9%
• By 2050: 128,575 · -9.9%
• By 2075: 111,507 · -21.8%
• By 2100: 93,376 · -34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 51% Hispanic / Latino 28% Black 14% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 71% English-only · Spanish 26% French/Haitian/Cajun 2%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+57.2) · D 21.0% · R 78.3%
• 2008→2024 swing: -15.0pp toward R · 2008: -42.3pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+56.3 2016: R+56.7 2012: R+50.2 2008: R+42.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -167.61%
• Current HPI: 233.8036
• Rent YoY: ▲ 3.80%
• 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

-3.0% since first listed

2 events — show timeline

• 2026-05-06 Price Changed $800,000 Triad MLS
• 2026-04-09 Listed $825,000 Triad MLS