523 Terrell St · Greensboro, NC 27406

$128,000

4 bd · 1.0 ba · 1,632 sqft · MultiFamily public records · 91 Days on market

Built 1927 9,583 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Great investment opportunity for investors looking for a cash flow property! This 4bed/1bath home is conveniently located close to downtown Greensboro and UNCG. Schedule an appointment today! Sold AS-IS

Key facts

• Close to uncg
• Cash flow property
• Conveniently located

Tags

• INVESTMENT OPPORTUNITY
• CASH FLOW PROPERTY
• CONVENIENTLY LOCATED
• CLOSE TO DOWNTOWN
• CLOSE TO UNCG

Property features AI

Finance

• Other: Building area total: 1,987 (reported)
• HOA & community: No homeowners association; Subdivision: J.F And J.A. Hodgin

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Residential stick/site-built house; Two levels; Built in 1927; Existing structure
• Construction: Vinyl siding; Slab foundation
• Exterior features: Lot approximately 0.22 acres; Public maintained road

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Multiple bedrooms located on the second floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Cooling: Other; Heating: See remarks; Water heater: Unknown
• Interior features: 6 total rooms; Crawl space (no basement)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $128k.

Deal economics

• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $116k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 3.8% in Greensboro — 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 81/100 on livability (#12 in NC, #1,335 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 261 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).
• This rent runs 35% of the median local income ($60k/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 $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $23k; list at $128k implies a 457% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,480 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.60%
• DSCR: 1.83
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: 9.4%
• Equity multiple: 1.37×
• Total profit: $13,199
• Equity at exit: $19,085

10-year hold

• IRR: 17.9%
• Equity multiple: 2.43×
• Total profit: $51,260
• Equity at exit: $11,067

Cash invested: $35,840 (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 27406

• Rents YoY: 2.2%
• Active inventory: 261
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,722 high
• Mortgage (P&I): −$671
• Tax from tax record: −$81 /mo · $968/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $555

Break-even live

Break-even rent $1,019

Max offer price $128,000

Occupancy floor 63%

Sensitivity live

Price	-10% $628	-5% $592	+0% $555	+5% $519	+10% $483
Rent	-10% $419	-5% $487	+0% $555	+5% $623	+10% $691
Rate	-1.0pp $620	-0.5pp $588	base $555	+0.5pp $522	+1.0pp $488

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Erwin St Greensboro, NC	3.0	1.5	1130	$1,570	$1.39	24d	1	0.33mi
826 W Terrell St Greensboro, NC	3.0	1.0	1084	$1,750	$1.61	24d	1	0.35mi
2015 Rath St Greensboro, NC	4.0	2.0	1300	$1,600	$1.23	24d	1	0.73mi
2405 Freeman Mill Rd Greensboro, NC	4.0	2.0	1176	$1,600	$1.36	24d	1	0.75mi
1004 Highland Ave Unit A Greensboro, NC	3.0	1.0	1300	$1,250	$0.96	24d	1	0.80mi
1100 Glenwood Ave Greensboro, NC	4.0	2.5	2030	$2,295	$1.13	24d	1	0.84mi
1406 W Florida St Greensboro, NC	3.0	1.0	1441	$1,750	$1.21	24d	1	0.85mi
2003 Urban Dr Greensboro, NC	3.0	1.5	1107	$1,495	$1.35	21d	1	1.27mi
903 Martin St Unit B Greensboro, NC	3.0	1.5	2008	$1,295	$0.64	24d	1	1.44mi
904 Stephens St Greensboro, NC	3.0	1.0	1052	$1,490	$1.42	15d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $128,000 Active 91 DOM
2. 2026-06-17
   days on market $128,000 Active 90 DOM
3. 2026-06-16
   days on market $128,000 Active 89 DOM
4. 2026-06-15
   days on market $128,000 Active 88 DOM
5. 2026-06-14
   days on market $128,000 Active 86 DOM
6. 2026-06-10
   days on market $128,000 Active 83 DOM
7. 2026-06-09
   days on market $128,000 Active 82 DOM
8. 2026-06-08
   days on market $128,000 Active 81 DOM
9. 2026-06-07
   days on market $128,000 Active 80 DOM
10. 2026-06-03
    days on market $128,000 Active 76 DOM
11. 2026-06-02
    days on market $128,000 Active 75 DOM
12. 2026-06-01
    days on market $128,000 Active 74 DOM
13. 2026-05-31
    days on market $128,000 Active 73 DOM
14. 2026-05-31
    days on market $128,000 Active 72 DOM
15. 2026-03-27
    price $128,000
16. 2026-03-26
    price $120,000
17. 2026-03-19
    listed $128,000 Active
18. 2015-12-28
    soldstatus $23,000

ⓘ 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: $968 · $81/mo
• Projected year-2 tax: $1,050 · $87/mo
• Expected delta: +$81/yr (+$7/mo · 8.4%)

ⓘ 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 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $20,668
• − Mortgage interest: −$7,170
• − Property taxes: −$968
• − Insurance: −$640
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$3,724
• Taxable income: $4,859
• Est. tax owed @ 24.0%: −$1,166
• After-tax cash flow: $5,498/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: Guilford County Schools
• NCES district ID: 3701920
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $46,315
• Composite: 35.78/100
• National rank: #4842
• State rank: #99 of 178 in NC

Livability — Greensboro

• Score: 81/100
• State rank: #12
• US rank: #1335

Category grades

Amenities A+ Commute A+ 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: Greensboro, NC
• County: Guilford County · 487,190 people
• City population: 329,421
• Metro: Greensboro-High Point, NC
• Population (ZIP): 60,651
• Household income: $59,563
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 2462.0

Population outlook (Guilford County) Hauer SSP2

• Today (2025): 584,596 people
• By 2030: 616,851 · +5.5%
• By 2040: 678,451 · +16.1%
• By 2050: 734,788 · +25.7%
• By 2075: 862,985 · +47.6%
• By 2100: 948,704 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 52% White 26% Hispanic / Latino 13% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Italian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 10% · Canada, Vietnam, United Kingdom
• Languages at home: 83% English-only · Spanish 11% Vietnamese 1% Other Asian/Pacific 1%

Political lean MEDSL · Guilford

• 2024 margin: Strong D (+21.8) · D 60.2% · R 38.4% · Other 1.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 18.4pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+23.1 2016: D+20.0 2012: D+16.5 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.70%
• Current HPI: 243.2612
• Rent YoY: ▲ 2.18%
• 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

+456.5% since first listed

4 events — show timeline

• 2026-03-27 Price Changed $128,000 Triad MLS
• 2026-03-26 Price Changed $120,000 Triad MLS
• 2026-03-19 Listed $128,000 Triad MLS
• 2015-12-28 Sold (Public Records) $23,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $968 · -1.0% YoY. Source: county tax records.