2301 Ruddy Rd · Raleigh, NC 27616

$294,000

3 bd · 2.0 ba · 1,040 sqft · SingleFamily public records · 90 Days on market

Built 1989 6,534 sqft lot $49/mo HOA · 2% of rent

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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).

• Cash flow +13.8/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• 1% rule +3.1/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SUPER RANCH IN GREAT NEIGHBORHOOD * * EXT PAINTED 98 * * INTERIOR PAINTED 99 * * NEW WATER HEATER 97 * * CROWN MOLDING THRU-OUT * * NEW VINYL KIT/BATH 99 * * MASTER BATH HAS CERAMIC TILE FLR * * BALDWIN LOCKS FRT AND REAR DOORS * * LARSON STORM DOOR FRT ENTRANCE * * KIT W/ STAINED OAK CABINETS * * HUNTER DOUGLAS WOOD BLINDS * * NEW PERGO TYPE FLOORING IN LIVING, HALL & MASTER BEDROOM * * NICE LANDSCAPED YD

Key facts

• 6,534 sq ft lot
• Community pool
• Built 1989

Property features AI

Finance

• Other: Lot size approximately 0.15 acres; Road surface: asphalt and concrete
• HOA & community: Mallard Crossing community with a pool; Monthly association fee (road maintenance included)

Exterior

• Parking: Driveway and on-site parking
• Utilities: Public water; Public sewer; Cable available; Sewer connected; Water connected
• Home design: Single-story house; Facing city street (private maintained road); R-30 zoning
• Construction: Aluminum siding; Vinyl siding; Shingle roof; Built as a house; One level
• Exterior features: Deck; Front porch; Wood fencing in back yard; Wooded vegetation

Interior

• Kitchen: Water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Bamboo; Carpet; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Kitchen/dining room combination; Window coverings; Storage structure on property
• Laundry & utility: Laundry in hall; Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $294k.

Deal economics

• At list price, monthly cash flow is $26 ($316/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 $237k (19.4% below list).
• Recommended offer: $237k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Forestville Road Elementary (math 16% / reading 31%, grade F, #1,160 of 1,410 statewide, top 83%, 494 students, 79% FRL); Neuse River Middle (math 20% / reading 30%, grade F, #396 of 475 statewide, top 84%, 908 students, 77% FRL); Knightdale High (math 15% / reading 50%, grade F, #441 of 535 statewide, top 83%, 1,702 students, 63% FRL) — zoned schools average 73% FRL vs 30% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 56% district-wide (-29 pts) — the specific schools serving this property underperform the Wake County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 435 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).
• This rent runs 34% of the median local income ($84k/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 $2k of loan paydown is wiped out by about $9k 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

• It's been on market 90 days — a 6% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 28y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $145k; list at $294k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 55% 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 $236,955 (19.4% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.79% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.41×
• Total profit: $-48,891
• Equity at exit: $43,836

10-year hold

• IRR: -11.1%
• Equity multiple: 0.37×
• Total profit: $-52,146
• Equity at exit: $25,420

Cash invested: $82,320 (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 27616

• Home prices YoY: -26.6%
• Rents YoY: 1.8%
• Active inventory: 435
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,370 medium
• Mortgage (P&I): −$1,542
• Tax from tax record: −$132 /mo · $1,588/yr
• Insurance: −$122
• HOA: −$49
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $26

Break-even live

Break-even rent $2,336

Max offer price $294,000

Occupancy floor 94%

Sensitivity live

Price	-10% $193	-5% $110	+0% $26	+5% $-57	+10% $-140
Rent	-10% $-161	-5% $-67	+0% $26	+5% $120	+10% $214
Rate	-1.0pp $174	-0.5pp $101	base $26	+0.5pp $-50	+1.0pp $-127

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: $73,500
• Closing costs: $8,820
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4421 Canadian Ct Raleigh, NC	3.0	2.0	1340	$2,195	$1.64	14d	1	0.18mi
4104 Labrador Dr Raleigh, NC	3.0	2.0	1450	$3,200	$2.21	25d	1	0.37mi
2500 Bartlett Dr Raleigh, NC	1.0–3.0	1.0–2.0	1002	$2,333	$2.33	3d	15	0.98mi

HOA detail

• Monthly dues: $49 · $588/yr
• Likely covers: water

Listing history 50 events

1. 2026-06-21
   days on market $294,000 Active 90 DOM
2. 2026-06-18
   days on market $294,000 Active 87 DOM
3. 2026-06-17
   days on market $294,000 Active 86 DOM
4. 2026-06-16
   days on market $294,000 Active 85 DOM
5. 2026-06-15
   days on market $294,000 Active 84 DOM
6. 2026-06-13
   days on market $294,000 Active 82 DOM
7. 2026-06-13
   days on market $294,000 Active 81 DOM
8. 2026-06-09
   days on market $294,000 Active 78 DOM
9. 2026-06-08
   days on market $294,000 Active 77 DOM
10. 2026-06-07
    days on market $294,000 Active 76 DOM
11. 2026-06-05
    days on market $294,000 Active 73 DOM
12. 2026-06-03
    days on market $294,000 Active 72 DOM
13. 2026-06-02
    days on market $294,000 Active 71 DOM
14. 2026-06-01
    days on market $294,000 Active 70 DOM
15. 2026-05-31
    days on market $294,000 Active 69 DOM
16. 2026-05-01
    price $294,000
17. 2026-03-25
    price $297,000
18. 2026-03-23
    listed $299,000 Active
19. 2026-03-22
    historical $299,000
20. 2024-11-04
    price $99,000 432-char remark

    Show marketing remark (432 chars)

    SUPER RANCH IN GREAT NEIGHBORHOOD * * EXT PAINTED 98 * * INTERIOR PAINTED 99 * * NEW WATER HEATER 97 * * CROWN MOLDING THRU-OUT * * NEW VINYL KIT/BATH 99 * * MASTER BATH HAS CERAMIC TILE FLR * * BALDWIN LOCKS FRT AND REAR DOORS * * LARSON STORM DOOR FRT ENTRANCE * * KIT W/ STAINED OAK CABINETS * * HUNTER DOUGLAS WOOD BLINDS * * NEW PERGO TYPE FLOORING IN LIVING, HALL & MASTER BEDROOM * * NICE LANDSCAPED YD

21. 2023-11-29
    price $39,000 368-char remark

    Show marketing remark (368 chars)

    APPROXIMATLEY $22,900 TO ASSUME AT 9.5%, FHA NON-QUALIFY ASSUMPTION. CHARMI NG THREE BEDRM WITH FRONT PORCH ON WOODED LOT. CROWN MOLDING THROUGH OUT. CERAMIC TILE FLOOR IN MASTER BATH. SELLER SAYS REPLACED H20 1997. GREAT LOCATION, EASY ACCESS TO 64, US1, DOWNTOWN RALEIGH & N RALEIGH. PERFECT STARTER HOME OR HOME FOR EMPTY NESTERS. SELLER IS DAUGHTER OF AGENT.

22. 2017-12-05
    soldstatus $145,000 Closed
23. 2017-12-05
    soldstatus $145,000
24. 2017-12-05
    soldstatus $145,000
25. 2017-11-02
    historical Contingent
26. 2017-11-01
    listed $139,900 Active
27. 2017-10-26
    listed $139,900
28. 2015-10-30
    soldstatus $119,900 Closed
29. 2015-10-30
    soldstatus $119,900
30. 2015-10-30
    soldstatus $120,000
31. 2015-09-26
    historical Contingent
32. 2015-09-25
    listed $119,900
33. 2015-09-25
    listed $119,900 Active
34. 2014-04-24
    soldstatus $113,000 Closed
35. 2014-04-24
    soldstatus $113,000
36. 2014-04-24
    soldstatus $113,000
37. 2014-03-11
    status Pending
38. 2014-03-03
    listed $110,000 Active
39. 2014-03-03
    listed $110,000
40. 2006-06-14
    soldstatus $109,500
41. 2006-05-31
    soldstatus $109,500
42. 2006-05-31
    soldstatus $109,500
43. 2006-03-13
    listed $109,500
44. 2004-12-27
    historical
45. 2004-08-30
    listed $106,900
46. 2002-05-17
    soldstatus $100,500
47. 2002-05-16
    soldstatus $100,000 432-char remark

    Show marketing remark (432 chars)

    SUPER RANCH IN GREAT NEIGHBORHOOD * * EXT PAINTED 98 * * INTERIOR PAINTED 99 * * NEW WATER HEATER 97 * * CROWN MOLDING THRU-OUT * * NEW VINYL KIT/BATH 99 * * MASTER BATH HAS CERAMIC TILE FLR * * BALDWIN LOCKS FRT AND REAR DOORS * * LARSON STORM DOOR FRT ENTRANCE * * KIT W/ STAINED OAK CABINETS * * HUNTER DOUGLAS WOOD BLINDS * * NEW PERGO TYPE FLOORING IN LIVING, HALL & MASTER BEDROOM * * NICE LANDSCAPED YD

48. 2002-05-16
    soldstatus $100,000 432-char remark

    Show marketing remark (432 chars)

    SUPER RANCH IN GREAT NEIGHBORHOOD * * EXT PAINTED 98 * * INTERIOR PAINTED 99 * * NEW WATER HEATER 97 * * CROWN MOLDING THRU-OUT * * NEW VINYL KIT/BATH 99 * * MASTER BATH HAS CERAMIC TILE FLR * * BALDWIN LOCKS FRT AND REAR DOORS * * LARSON STORM DOOR FRT ENTRANCE * * KIT W/ STAINED OAK CABINETS * * HUNTER DOUGLAS WOOD BLINDS * * NEW PERGO TYPE FLOORING IN LIVING, HALL & MASTER BEDROOM * * NICE LANDSCAPED YD

49. 2002-04-07
    price $136,900 432-char remark

    Show marketing remark (432 chars)

    SUPER RANCH IN GREAT NEIGHBORHOOD * * EXT PAINTED 98 * * INTERIOR PAINTED 99 * * NEW WATER HEATER 97 * * CROWN MOLDING THRU-OUT * * NEW VINYL KIT/BATH 99 * * MASTER BATH HAS CERAMIC TILE FLR * * BALDWIN LOCKS FRT AND REAR DOORS * * LARSON STORM DOOR FRT ENTRANCE * * KIT W/ STAINED OAK CABINETS * * HUNTER DOUGLAS WOOD BLINDS * * NEW PERGO TYPE FLOORING IN LIVING, HALL & MASTER BEDROOM * * NICE LANDSCAPED YD

50. 2002-04-07
    historical 432-char remark

    Show marketing remark (432 chars)

    SUPER RANCH IN GREAT NEIGHBORHOOD * * EXT PAINTED 98 * * INTERIOR PAINTED 99 * * NEW WATER HEATER 97 * * CROWN MOLDING THRU-OUT * * NEW VINYL KIT/BATH 99 * * MASTER BATH HAS CERAMIC TILE FLR * * BALDWIN LOCKS FRT AND REAR DOORS * * LARSON STORM DOOR FRT ENTRANCE * * KIT W/ STAINED OAK CABINETS * * HUNTER DOUGLAS WOOD BLINDS * * NEW PERGO TYPE FLOORING IN LIVING, HALL & MASTER BEDROOM * * NICE LANDSCAPED YD

ⓘ 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: $1,588 · $132/mo
• Projected year-2 tax: $2,411 · $201/mo
• Expected delta: +$823/yr (+$69/mo · 51.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $28,435
• − Mortgage interest: −$16,469
• − Property taxes: −$1,588
• − Insurance: −$1,470
• − Repairs & maintenance: −$2,275
• − Management: −$2,275
• − HOA: −$588
• − Depreciation: −$8,553
• Taxable loss: −$4,782
• Est. tax savings @ 24.0%: +$1,148
• After-tax cash flow: $1,464/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

• County: Wake County · 1,216,256 people
• City population: 569,344
• Metro: Raleigh-Cary, NC
• Population (ZIP): 63,520
• Household income: $83,565
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 2647.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 38% White 31% Hispanic / Latino 20% Two or more races 12% Asian 7%
• Hispanic origin (detail): Mexican 8% Puerto Rican 3% Dominican 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 20% · Canada, Vietnam, Jamaica
• Languages at home: 71% English-only · Spanish 16% Other Indo-European 3% Vietnamese 2%

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: ▼ -81.35%
• Current HPI: 224.0782
• Rent YoY: ▲ 1.79%
• 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

+292.0% since first listed

45 events — show timeline

• 2026-05-01 Price Changed $294,000 TMLS
• 2026-03-25 Price Changed $297,000 TMLS
• 2026-03-23 Listed $299,000 TMLS
• 2026-03-22 Coming Soon $299,000 TMLS
• 2024-11-04 Price Changed $99,000 TMLS
• 2023-11-29 Price Changed $39,000 TMLS
• 2017-12-05 Sold (Public Records) $145,000 Public Records
• 2017-12-05 Sold (MLS) $145,000 AMLSNC
• 2017-12-05 Sold (MLS) $145,000 TMLS
• 2017-11-02 Contingent — TMLS
• 2017-11-01 Listed $139,900 TMLS
• 2017-10-26 Listed $139,900 AMLSNC
• 2015-10-30 Sold (Public Records) $120,000 Public Records
• 2015-10-30 Sold (MLS) $119,900 AMLSNC
• 2015-10-30 Sold (MLS) $119,900 TMLS
• 2015-09-26 Contingent — TMLS
• 2015-09-25 Listed $119,900 AMLSNC
• 2015-09-25 Listed $119,900 TMLS
• 2014-04-24 Sold (Public Records) $113,000 Public Records
• 2014-04-24 Sold (MLS) $113,000 AMLSNC
• 2014-04-24 Sold (MLS) $113,000 TMLS
• 2014-03-11 Pending — TMLS
• 2014-03-03 Listed $110,000 TMLS
• 2014-03-03 Listed $110,000 AMLSNC
• 2006-06-14 Sold (MLS) $109,500 TMLS
• 2006-05-31 Sold (Public Records) $109,500 Public Records
• 2006-05-31 Sold (Public Records) $109,500 Public Records
• 2006-03-13 Listed $109,500 TMLS
• 2004-12-27 Listing Removed — TMLS
• 2004-08-30 Listed $106,900 TMLS
• 2002-05-17 Sold (Public Records) $100,500 Public Records
• 2002-05-16 Sold (MLS) $100,000 AMLSNC
• 2002-05-16 Sold (MLS) $100,000 TMLS
• 2002-04-07 Listing Removed — TMLS
• 2002-04-07 Price Changed $136,900 TMLS
• 2001-10-28 Listed $99,000 AMLSNC
• 2001-10-28 Listed $99,000 TMLS
• 1999-04-30 Sold (Public Records) $91,000 Public Records
• 1999-04-29 Sold (MLS) $91,000 TMLS
• 1999-01-26 Listed $89,900 TMLS
• 1998-03-31 Sold (Public Records) $94,000 Public Records
• 1998-03-31 Sold (MLS) $93,900 TMLS
• 1998-02-07 Price Changed $95,900 TMLS
• 1998-01-03 Listed $95,900 TMLS
• 1989-11-09 Sold (Public Records) $75,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,588 · +3.0% YoY. Source: county tax records.