2804 Dancer Ct · Raleigh, NC 27610

$190,000

3 bd · 2.0 ba · 1,170 sqft · SingleFamily public records · 5 Days on market

Built 1995 5,227 sqft lot Est $266k · 28% 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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• Schools +4.9/10.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this chance to get into Southeast Raleigh at an accessible price point! This charming 1.5-story, 3-bedroom, 2-bath home offers a smart and functional layout. Two bedrooms and a full bath on the main level, plus a private owner's suite upstairs. Whether you're an investor looking for your next value-add project or a homebuyer ready to roll up your sleeves and make a place truly your own, this property delivers the opportunity. A little TLC goes a long way here and the equity potential is real. You'll love the location: easy access to both I-40 and I-440 puts downtown Raleigh, RDU, and the entire Triangle within easy reach. The Southeast Raleigh YMCA, one of the most highly-rated Y

Key facts

• Outdoor pool
• Easy access to i-40
• Sauna

Tags

• EASY ACCESS TO I-40
• EASY ACCESS TO I-440
• OUTDOOR POOL
• INDOOR TRACK
• BASKETBALL COURTS
• SAUNA

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Utilities: Public water; Public sewer
• Home design: Site-built property; One and one-half levels
• Construction: Vinyl siding construction
• Exterior features: Asphalt shingle roof

Interior

• Bedrooms: 3 bedrooms total; 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; Central electric air conditioning
• Interior features: Carpet and laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/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 $182k (4.0% below list).
• Recommended offer: $182k (4.0% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 2.7% in Raleigh — 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 83/100 on livability (#10 in NC, #1,028 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: 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: Walnut Creek Elementary (math 23% / reading 32%, grade F, #1,028 of 1,410 statewide, top 73%, 497 students, 99% FRL); Carnage Middle (math 63% / reading 69%, grade A-, #26 of 475 statewide, top 5%, 844 students, 32% FRL) — zoned schools average 66% FRL vs 30% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 594 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).
• This rent runs 32% of the median local income ($68k/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.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $84k; list at $190k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% 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 $182,347 (4.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.96% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.62%
• DSCR: 1.16
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $265,590
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1404 Savannah Dr	0.10mi	3/1.5	1,111 (-5%)	6mo	$252,000	$227	80
2604 Sourwood St	0.28mi	4/2.5 (+1)	1,152 (-2%)	21mo	$225,000	$195	60
1405 Cross Link Rd	0.73mi	3/2.0	1,092 (-7%)	1mo	$270,000	$247	54
1412 Ricochet Dr	0.45mi	3/2.0	1,344 (+15%)	3mo	$300,000	$223	52
3028 Slippery Elm Dr	0.59mi	3/2.0	1,157 (-1%)	24mo	$293,500	$254	51
3105 Berry Ct	0.33mi	3/1.5	1,311 (+12%)	20mo	$240,000	$183	46

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 · 0.2% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.52×
• Total profit: $-25,551
• Equity at exit: $28,330

10-year hold

• IRR: -10.0%
• Equity multiple: 0.47×
• Total profit: $-28,441
• Equity at exit: $16,428

Cash invested: $53,200 (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 27610

• Rents YoY: 0.2%
• Active inventory: 594
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,823 high
• Mortgage (P&I): −$996
• Tax from tax record: −$204 /mo · $2,453/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $161

Break-even live

Break-even rent $1,620

Max offer price $190,000

Occupancy floor 86%

Sensitivity live

Price	-10% $268	-5% $214	+0% $161	+5% $107	+10% $53
Rent	-10% $17	-5% $89	+0% $161	+5% $233	+10% $305
Rate	-1.0pp $256	-0.5pp $209	base $161	+0.5pp $111	+1.0pp $61

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2720 Midway Park Ct Raleigh, NC	3.0	2.0	1100	$1,700	$1.55	21d	1	0.20mi
2706 Big Oak St Raleigh, NC	2.0	1.5	1200	$1,450	$1.21	25d	1	0.28mi
2806 Dillmark Ct Raleigh, NC	2.0	1.5	1080	$1,295	$1.20	21d	1	0.36mi
2409 Foxtrot Rd Raleigh, NC	2.0	1.0	1200	$2,300	$1.92	25d	1	0.39mi
3408 Monsieur Ct Raleigh, NC	3.0	2.5	1404	$1,850	$1.32	5d	1	0.45mi
3109 Ebony Ct Raleigh, NC	3.0	1.5	1248	$1,799	$1.44	25d	1	0.49mi
1423 Tamarino Dr Raleigh, NC	3.0	2.5	1400	$1,895	$1.35	18d	1	0.57mi
2292 Fox Ridge Manor Rd Raleigh, NC	2.0–3.0	1.5–2.5	1124	$1,750	$1.56	13d	1	0.60mi
821 Skinner Dr Raleigh, NC	3.0	2.0	1126	$1,790	$1.59	3d	1	0.72mi
737 Southgate Dr Raleigh, NC	3.0	2.5	1332	$1,845	$1.39	5d	1	0.74mi
635 Hilltop Dr Raleigh, NC	2.0	1.0	960	$1,295	$1.35	5d	1	0.88mi
624 Hilltop Dr Raleigh, NC	2.0	1.0	720	$1,250	$1.74	25d	1	0.89mi
1506 Creech Rd Garner, NC	1.0–3.0	1.0–2.0	948	$1,636	$1.73	25d	1	0.90mi
1622 Proctor Rd Raleigh, NC	2.0–3.0	1.0	829	$1,505	$1.81	4d	6	0.91mi
623 Hilltop Dr Raleigh, NC	2.0	1.0	960	$1,295	$1.35	25d	1	0.92mi
619 Hilltop Dr Raleigh, NC	2.0	1.0	960	$1,295	$1.35	25d	1	0.93mi
3118 Garner Rd Unit 1 Raleigh, NC	3.0	2.5	1330	$1,845	$1.39	25d	1	0.96mi
531 Bradkin Ct Raleigh, NC	3.0	2.5	1352	$1,500	$1.11	25d	1	0.99mi
2012 Winston Diamond Ct Raleigh, NC	3.0	2.5	1369	$1,830	$1.34	25d	1	1.07mi
426 Hacksaw Trl Raleigh, NC	3.0	2.5	1330	$1,900	$1.43	25d	1	1.20mi
2920 Boone Trl Raleigh, NC	2.0	1.5	960	$1,425	$1.48	25d	1	1.20mi
1400 Creech Rd #4 Garner, NC	2.0	1.0	850	$1,095	$1.29	5d	1	1.20mi
860 Darby St Raleigh, NC	3.0	2.0	1045	$1,650	$1.58	5d	1	1.22mi
3052 Spline Cir Raleigh, NC	3.0	2.5	1350	$1,875	$1.39	25d	1	1.29mi
2411 Aurora Cove Ct Raleigh, NC	1.0–3.0	1.0–2.0	1001	$1,952	$1.95	3d	12	1.45mi
141 Creek Commons Ave Garner, NC	3.0	2.0	1326	$1,750	$1.32	18d	1	1.48mi
2321 Stoney Spring Dr Raleigh, NC	1.0–2.0	1.0–2.0	879	$1,541	$1.75	3d	103	1.49mi

Listing history 3 events

1. 2026-05-20
   status Pending
2. 2026-05-15
   listed $190,000 Active
3. 1995-10-05
   soldstatus $84,000

ⓘ 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: $2,453 · $204/mo
• Projected year-2 tax: $2,453 · $204/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $21,882
• − Mortgage interest: −$10,643
• − Property taxes: −$2,453
• − Insurance: −$950
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$5,527
• Taxable loss: −$1,193
• Est. tax savings @ 24.0%: +$286
• After-tax cash flow: $2,213/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 — Raleigh

• Score: 83/100
• State rank: #10
• US rank: #1028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raleigh, NC
• County: Wake County · 1,216,256 people
• City population: 569,344
• Metro: Raleigh-Cary, NC
• Population (ZIP): 81,419
• Household income: $67,932
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 3499.0

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 0.59)
• Race & ethnicity: Black 59% Hispanic / Latino 20% White 15% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1% Dominican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 14% · Canada
• Languages at home: 77% English-only · Spanish 18% Arabic 1% French/Haitian/Cajun 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: ▼ -131.88%
• Current HPI: 237.704
• Rent YoY: ▲ 0.20%
• 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

+126.2% since first listed

3 events — show timeline

• 2026-05-20 Pending — TMLS
• 2026-05-15 Listed $190,000 TMLS
• 1995-10-05 Sold (Public Records) $84,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,453 · +0.4% YoY. Source: county tax records.