507 E Presnell St · Asheboro, NC 27203

$119,900

2 bd · 1.0 ba · 1,332 sqft · SingleFamily public records · 14 Days on market

Built 1945 0.38 ac lot

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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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Opportunity – Convenient Location! This 2-bedroom, 1-bath home offers plenty of potential and features a spacious primary bedroom with two closets, living room, den, kitchen with dining area, and a functional layout ready for your vision. Outside space offers a deck, 2 storage buildings that convey & detached double carport. Property is being sold as-is with all remaining contents/items inside to convey with sale.

Key facts

• Two closets
• Storage buildings
• Deck

Tags

• CONVENIENT LOCATION
• SPACIOUS PRIMARY BEDROOM
• TWO CLOSETS
• DETACHED DOUBLE CARPORT
• DECK
• STORAGE BUILDINGS

Property features AI

Finance

• Other: Located on a public maintained road
• HOA & community: No homeowners association

Exterior

• Parking: Detached carport; Carport with paved access; 2 garage/carport spaces
• Utilities: Public water; Public sewer; Gas water heater; Natural gas available for heating
• Home design: One-story house; Stick/site-built residential property; Built in 1945; Existing structure
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: City lot; Storage structure on site; No fencing

Interior

• Kitchen: Range
• Bedrooms: Primary bedroom located on the main level
• Flooring: Carpet; Laminate; Tile; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air
• Interior features: Primary bedroom on main level; Built-in features; Ceiling fan(s); Pull-down attic stairs
• Laundry & utility: Washer hookup on main level; Dryer connection

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $198 ($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 $118k (1.5% below list).
• Recommended offer: $118k (1.5% below list) — sets the bar for 1% rule.
• Cap rate 8.3% 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); 90 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 789 units permitted in Randolph County in 2024 (168 in 5+ unit buildings).
• This rent runs 31% of the median local income ($46k/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 $829 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $43k; list at $120k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $118,143 (1.5% below list)

Questions for the listing agent

1. Built in 1945 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 8.27%
• Cash-on-cash: 7.08%
• DSCR: 1.31
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $246,420
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
531 N Elm St	0.16mi	3/2.0 (+1)	1,409 (+6%)	1mo	$234,000	$166	73
443 E Pritchard St	0.18mi	3/1.0 (+1)	1,154 (-13%)	6mo	$224,500	$195	59
605 Brentwood Ct	0.46mi	3/2.0 (+1)	1,218 (-9%)	1mo	$248,700	$204	54
206 Sterling St	0.36mi	3/1.0 (+1)	1,239 (-7%)	16mo	$190,000	$153	53
535 & 541 Greensboro St	0.30mi	3/2.0 (+1)	1,232 (-8%)	14mo	$140,000	$114	52
828 Martin Luther King Jr Dr	0.54mi	3/1.0 (+1)	1,482 (+11%)	1mo	$187,500	$127	51
110 S High St	0.72mi	2/1.0	1,399 (+5%)	11mo	$269,000	$192	49
681 Woodland Cir	0.49mi	3/2.0 (+1)	1,248 (-6%)	11mo	$230,500	$185	48
646 Woodland Cir	0.54mi	3/2.0 (+1)	1,238 (-7%)	12mo	$257,000	$208	44
519 Fayetteville St	0.48mi	3/1.0 (+1)	1,180 (-11%)	14mo	$180,000	$153	42
710 Booker T Washington Ave	0.59mi	3/2.0 (+1)	1,456 (+9%)	11mo	$265,000	$182	38
669 Woodland Cir	0.46mi	3/2.0 (+1)	1,153 (-13%)	11mo	$240,000	$208	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 · 3.8% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-5,903
• Equity at exit: $17,877

10-year hold

• IRR: 5.8%
• Equity multiple: 1.44×
• Total profit: $14,930
• Equity at exit: $10,367

Cash invested: $33,572 (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: 90
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,181 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$57 /mo · $680/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $198

Break-even live

Break-even rent $931

Max offer price $119,900

Occupancy floor 78%

Sensitivity live

Price	-10% $266	-5% $232	+0% $198	+5% $164	+10% $130
Rent	-10% $105	-5% $151	+0% $198	+5% $245	+10% $291
Rate	-1.0pp $258	-0.5pp $228	base $198	+0.5pp $167	+1.0pp $135

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 W Presnell St #5 Asheboro, NC	2.0	2.0	1144	$1,395	$1.22	24d	1	0.71mi

Listing history 14 events

1. 2026-06-14
   statusdays on market $119,900 Pending 14 DOM
2. 2026-06-10
   days on market $119,900 Due Diligence Period 13 DOM
3. 2026-06-09
   days on market $119,900 Due Diligence Period 12 DOM
4. 2026-06-08
   days on market $119,900 Due Diligence Period 11 DOM
5. 2026-06-07
   days on market $119,900 Due Diligence Period 10 DOM
6. 2026-06-05
   days on market $119,900 Due Diligence Period 7 DOM
7. 2026-06-03
   days on market $119,900 Due Diligence Period 6 DOM
8. 2026-06-02
   days on market $119,900 Due Diligence Period 5 DOM
9. 2026-06-01
   days on market $119,900 Due Diligence Period 4 DOM
10. 2026-05-31
    days on market $119,900 Due Diligence Period 3 DOM
11. 2026-05-31
    statusdays on market $119,900 Due Diligence Period 2 DOM
12. 2026-05-28
    listed $119,900 Active
13. 2026-05-28
    listed $119,900 Active
14. 1993-10-01
    soldstatus $43,000

ⓘ 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: $680 · $57/mo
• Projected year-2 tax: $983 · $82/mo
• Expected delta: +$303/yr (+$25/mo · 44.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $14,177
• − Mortgage interest: −$6,716
• − Property taxes: −$680
• − Insurance: −$600
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$3,488
• Taxable income: $425
• Est. tax owed @ 24.0%: −$102
• After-tax cash flow: $2,273/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: 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

+178.8% since first listed

3 events — show timeline

• 2026-05-28 Listed $119,900 Triad MLS
• 2026-05-28 Listed $119,900 CANOPYMLS as Distributed by MLS Grid
• 1993-10-01 Sold (Public Records) $43,000 Public Records

Property tax history

-2.2%/yr

Latest (2025): $680 · -0.7% YoY. Source: county tax records.