511 Cameron St · Burlington, NC 27215

$199,000

2 bd · 1.0 ba · 2,255 sqft · SingleFamily public records · 352 Days on market

Built 1930 8,276 sqft lot Est $235k · 15% 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 +14.3/15.0
• Cash flow +8.8/30.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors and visionaries! This 5 Bedroom, 2-Bathroom gem in Burlington is currently operating as a boarding house, but with a little vision, could be a charming single-family residence. With spacious common areas and a flexible layout, this property offers plenty of options for investors or homeowners alike. Permanent stairs to additional upstairs space for storage or possibly additional living area. Home is occupied- please do NOT disturb the tenants. Contact the listing agent to schedule your showing or to get additional information.

Key facts

• 8,276 sq ft lot
• Built 1930
• Listed 351 days

Property features AI

Finance

• Other: Lot dimensions approximately 60 x 133 (0.19 acre); Zoning: OI; Publicly maintained asphalt road; Property located in Alamance County
• Financial info: Multi-family property with 4 total units; Owner/tenant utility responsibilities: see remarks
• HOA & community: No association; No association amenities

Exterior

• Parking: Driveway with gravel surface; No open parking
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Sewer connected; Water connected
• Home design: Single-story house; Multi-family site-built property; Facing direction not specified
• Construction: Vinyl siding; Asphalt roof; Concrete perimeter foundation; Built with site-built construction
• Exterior features: Covered front porch; No pool; No fencing; City street frontage; Sidewalks

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 5 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Eat-in kitchen; Cable TV
• Laundry & utility: Common area laundry; Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-166 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (34.0% below list).
• Recommended offer: $131k (34.0% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.6% in Burlington — 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 70/100 on livability (#123 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, schools F, crime 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.
• Market conditions: Rents rising (+2.6%/yr); 312 active listings in the ZIP; 2,466 units permitted in Alamance County in 2024 (403 in 5+ unit buildings).

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

• It's been on market 352 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y ago; this cycle's ask has dropped $36k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $142k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,339 (34.0% 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 352 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.66% ✗
• Cap rate: 5.29%
• Cash-on-cash: -3.57%
• DSCR: 0.84
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $234,520
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 N Anthony St	0.61mi	3/3.0 (+1)	2,240 (-1%)	6mo	$305,000	$136	52
716 Everett St	0.35mi	3/2.0 (+1)	2,030 (-10%)	9mo	$165,000	$81	50
1023 S Main St	0.62mi	3/1.5 (+1)	2,297 (+2%)	23mo	$195,000	$85	42
112 Stagg St	0.72mi	3/2.0 (+1)	2,304 (+2%)	20mo	$240,000	$104	37
1019 S Main St	0.61mi	3/3.0 (+1)	2,469 (+10%)	14mo	$120,000	$49	31
402 Hillcrest Ave	0.74mi	3/2.5 (+1)	2,024 (-10%)	22mo	$240,000	$119	19

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 · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.22×
• Total profit: $-43,389
• Equity at exit: $29,672

10-year hold

• IRR: -18.1%
• Equity multiple: 0.03×
• Total profit: $-53,799
• Equity at exit: $17,206

Cash invested: $55,720 (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 27215

• Rents YoY: 2.6%
• Active inventory: 312
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,313 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$77 /mo · $920/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $-166

Break-even live

Break-even rent $1,523

Max offer price $169,756

Occupancy floor —

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $199,000 Active 352 DOM
2. 2026-06-18
   days on market $199,000 Active 351 DOM
3. 2026-06-17
   days on market $199,000 Active 350 DOM
4. 2026-06-16
   days on market $199,000 Active 349 DOM
5. 2026-06-15
   days on market $199,000 Active 348 DOM
6. 2026-06-14
   days on market $199,000 Active 346 DOM
7. 2026-06-13
   days on market $199,000 Active 345 DOM
8. 2026-06-10
   days on market $199,000 Active 343 DOM
9. 2026-06-09
   days on market $199,000 Active 342 DOM
10. 2026-06-08
    days on market $199,000 Active 341 DOM
11. 2026-06-07
    days on market $199,000 Active 340 DOM
12. 2026-06-05
    pricedays on market $199,000 Active 337 DOM
13. 2026-06-02
    days on market $215,000 Active 335 DOM
14. 2026-06-01
    days on market $215,000 Active 334 DOM
15. 2026-05-31
    days on market $215,000 Active 333 DOM
16. 2026-05-30
    days on market $215,000 Active 332 DOM
17. 2026-01-07
    price $215,000 556-char remark

    Show marketing remark (556 chars)

    Calling all investors and visionaries! This 5 Bedroom, 2-Bathroom gem in Burlington is currently operating as a boarding house, but with a little vision, could be a charming single-family residence. With spacious common areas and a flexible layout, this property offers plenty of options for investors or homeowners alike. Permanent stairs to additional upstairs space for storage or possibly additional living area. Home is occupied- please do NOT disturb the tenants. Contact the listing agent to schedule your showing or to get additional information.

18. 2026-01-07
    price $215,000

    Show marketing remark (556 chars)

    Calling all investors and visionaries! This 5 Bedroom, 2-Bathroom gem in Burlington is currently operating as a boarding house, but with a little vision, could be a charming single-family residence. With spacious common areas and a flexible layout, this property offers plenty of options for investors or homeowners alike. Permanent stairs to additional upstairs space for storage or possibly additional living area. Home is occupied- please do NOT disturb the tenants. Contact the listing agent to schedule your showing or to get additional information.

19. 2025-09-12
    price $225,000 556-char remark

    Show marketing remark (556 chars)

    Calling all investors and visionaries! This 5 Bedroom, 2-Bathroom gem in Burlington is currently operating as a boarding house, but with a little vision, could be a charming single-family residence. With spacious common areas and a flexible layout, this property offers plenty of options for investors or homeowners alike. Permanent stairs to additional upstairs space for storage or possibly additional living area. Home is occupied- please do NOT disturb the tenants. Contact the listing agent to schedule your showing or to get additional information.

20. 2025-09-12
    price $225,000

    Show marketing remark (556 chars)

    Calling all investors and visionaries! This 5 Bedroom, 2-Bathroom gem in Burlington is currently operating as a boarding house, but with a little vision, could be a charming single-family residence. With spacious common areas and a flexible layout, this property offers plenty of options for investors or homeowners alike. Permanent stairs to additional upstairs space for storage or possibly additional living area. Home is occupied- please do NOT disturb the tenants. Contact the listing agent to schedule your showing or to get additional information.

21. 2025-07-02
    listed $235,000 Active 556-char remark

    Show marketing remark (556 chars)

    Calling all investors and visionaries! This 5 Bedroom, 2-Bathroom gem in Burlington is currently operating as a boarding house, but with a little vision, could be a charming single-family residence. With spacious common areas and a flexible layout, this property offers plenty of options for investors or homeowners alike. Permanent stairs to additional upstairs space for storage or possibly additional living area. Home is occupied- please do NOT disturb the tenants. Contact the listing agent to schedule your showing or to get additional information.

22. 2025-07-02
    listed $235,000 Active

    Show marketing remark (556 chars)

    Calling all investors and visionaries! This 5 Bedroom, 2-Bathroom gem in Burlington is currently operating as a boarding house, but with a little vision, could be a charming single-family residence. With spacious common areas and a flexible layout, this property offers plenty of options for investors or homeowners alike. Permanent stairs to additional upstairs space for storage or possibly additional living area. Home is occupied- please do NOT disturb the tenants. Contact the listing agent to schedule your showing or to get additional information.

23. 2024-07-18
    historical
24. 2024-04-01
    listed $179,900 Active
25. 2024-01-30
    soldstatus $142,000 Closed
26. 2024-01-30
    soldstatus $142,000
27. 2024-01-17
    status Pending Accepting Backup Offers
28. 2023-12-08
    status Active
29. 2023-12-08
    price $149,900
30. 2023-12-01
    status Pending Accepting Backup Offers
31. 2023-11-18
    listed $134,900 Active
32. 2023-05-31
    historical
33. 2023-01-27
    status Pending
34. 2023-01-27
    status Pending
35. 2023-01-27
    historical
36. 2023-01-27
    historical
37. 2022-11-22
    listed $135,000 Active
38. 2022-11-22
    listed
39. 2022-11-21
    historical
40. 2022-10-26
    price $135,000
41. 2022-10-26
    price $135,000
42. 2022-10-26
    price
43. 2022-09-08
    price $150,000
44. 2022-09-07
    price $150,000
45. 2022-09-07
    price
46. 2022-08-18
    listed $180,000 Active
47. 2022-08-18
    listed Active
48. 2022-08-18
    listed $135,000
49. 2020-12-16
    soldstatus $119,000
50. 1998-05-06
    soldstatus $65,000

ⓘ 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: $920 · $77/mo
• Projected year-2 tax: $1,632 · $136/mo
• Expected delta: +$712/yr (+$59/mo · 77.5%)

ⓘ 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 ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,761
• − Mortgage interest: −$11,147
• − Property taxes: −$920
• − Insurance: −$995
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − Depreciation: −$5,789
• Taxable loss: −$5,612
• Est. tax savings @ 24.0%: +$1,347
• After-tax cash flow: $-640/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 — Burlington

• Score: 70/100
• State rank: #123
• US rank: #7396

Category grades

Amenities F Commute D+ 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: Burlington, NC
• County: Alamance County · 173,369 people
• City population: 88,508
• Metro: Burlington, NC
• Population (ZIP): 47,102
• Household income: $68,825
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1497.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 20% Hispanic / Latino 10% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 3% Italian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Other Asian/Pacific 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: ▼ -263.87%
• Current HPI: 224.3392
• Rent YoY: ▲ 2.61%
• 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

+230.8% since first listed

34 events — show timeline

• 2026-01-07 Price Changed $215,000 Triad MLS
• 2026-01-07 Price Changed $215,000 TMLS
• 2025-09-12 Price Changed $225,000 Triad MLS
• 2025-09-12 Price Changed $225,000 TMLS
• 2025-07-02 Listed $235,000 TMLS
• 2025-07-02 Listed $235,000 Triad MLS
• 2024-07-18 Listing Removed — TMLS
• 2024-04-01 Listed $179,900 TMLS
• 2024-01-30 Sold (Public Records) $142,000 Public Records
• 2024-01-30 Sold (MLS) $142,000 Triad MLS
• 2024-01-17 Pending — Triad MLS
• 2023-12-08 Relisted — Triad MLS
• 2023-12-08 Price Changed $149,900 Triad MLS
• 2023-12-01 Pending — Triad MLS
• 2023-11-18 Listed $134,900 Triad MLS
• 2023-05-31 Delisted — AMLSNC
• 2023-01-27 Pending — TMLS
• 2023-01-27 Pending — AMLSNC
• 2023-01-27 Listing Removed — TMLS
• 2023-01-27 Listing Removed — TMLS
• 2022-11-22 Listed — AMLSNC
• 2022-11-22 Listed $135,000 TMLS
• 2022-11-21 Listing Removed — TMLS
• 2022-10-26 Price Changed $135,000 TMLS
• 2022-10-26 Price Changed $135,000 Triad MLS
• 2022-10-26 Price Changed — AMLSNC
• 2022-09-08 Price Changed $150,000 TMLS
• 2022-09-07 Price Changed $150,000 Triad MLS
• 2022-09-07 Price Changed — AMLSNC
• 2022-08-18 Listed $135,000 TMLS
• 2022-08-18 Listed — AMLSNC
• 2022-08-18 Listed $180,000 TMLS
• 2020-12-16 Sold (Public Records) $119,000 Public Records
• 1998-05-06 Sold (Public Records) $65,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $920 · +2.6% YoY. Source: county tax records.