3013 Wedgedale Ave · Durham, NC 27703

$210,000

2 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 30 Days on market

Built 1971 0.26 ac lot Est $256k · 18% 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 +15.0/15.0
• Cash flow +11.2/30.0
• Livability +4.0/5.0
• DSCR +3.3/10.0
• Schools +3.0/10.0
• 1% rule +2.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming neighborhood! You don't want to miss this home with a quaint front porch now on the market. This kitchen is ready for cooking with ample counter space and cabinets for storage. Well placed windows create a bright and welcoming interior. Easily flow from room to room with this great floor plan. The main bedroom and bathroom give you the perfect space for everyday living. Lush green landscape surrounds this beautiful house. Don't miss this incredible opportunity! This home has been virtually staged to illustrate its potential.

Key facts

• 0.26 acre lot
• Built 1971
• Listed 30 days

Property features AI

Finance

• Other: Living area approximately 996 square feet
• Financial info: Annual tax amount available but omitted per instructions
• HOA & community: No homeowner association; Not a senior community

Exterior

• Utilities: Public water; Public sewer
• Home design: One-story site-built home; Facing direction not specified; Entry level not specified
• Construction: Brick and vinyl siding exterior; Shingle roof; Slab foundation; Built as a site-built structure
• Exterior features: Public-maintained road access; Lot of approximately 0.26 acres; Zoned R-8

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-79 ($-951/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (20.8% below list).
• Recommended offer: $166k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.0% in Durham — 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 (#15 in NC, #1,411 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Durham Public Schools (urban): math 29% / reading 39% proficiency, ranked #132 of 178 in NC (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Holt Elementary (math 10% / reading 26%, grade F, #1,280 of 1,410 statewide, top 91%, 636 students, 83% FRL); Neal Middle (math 6% / reading 19%, grade F, #468 of 475 statewide, top 99%, 789 students, 100% FRL); Southern School of Energy And Sustainabi (math 28% / reading 30%, grade F, #465 of 535 statewide, top 87%, 1,283 students, 100% FRL) — zoned schools average 94% FRL vs 58% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 34% district-wide (-14 pts) — the specific schools serving this property underperform the Durham Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 1122 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,905 units permitted in Durham County in 2024 (955 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.
• Durham County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• 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 $166,416 (20.8% 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. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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?
7. 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.
8. 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.
9. 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: 0.79% ✗
• Cap rate: 5.84%
• Cash-on-cash: -1.62%
• DSCR: 0.93
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $256,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 Hickory Glen Ln	0.30mi	3/2.0 (+1)	1,036 (+4%)	9mo	$264,900	$256	63
2915 Ross Rd	0.51mi	3/1.5 (+1)	1,000 (0%)	11mo	$270,000	$270	60
2936 Carolyn Dr	0.58mi	3/1.5 (+1)	1,008 (+1%)	6mo	$172,000	$171	60
220 Hickory Glen Ln	0.33mi	3/2.0 (+1)	1,036 (+4%)	22mo	$265,000	$256	52
211 Breedlove Ave	0.65mi	2/1.0	1,066 (+7%)	17mo	$274,000	$257	44
402 S Adams St	0.51mi	3/2.0 (+1)	1,134 (+13%)	2mo	$279,900	$247	44
622 Lynn Rd	0.52mi	3/1.5 (+1)	1,148 (+15%)	2mo	$257,732	$225	42
8 Elaine Cir	0.70mi	2/2.0	1,094 (+9%)	6mo	$275,000	$251	42
407 Chandler Rd	0.62mi	2/1.0	1,140 (+14%)	10mo	$262,000	$230	40
10 Elaine Cir	0.70mi	2/2.0	1,094 (+9%)	14mo	$307,000	$281	36
2804 Ross Rd Rd	0.48mi	3/2.0 (+1)	1,128 (+13%)	19mo	$340,000	$301	32
15 Howlett Pl	0.73mi	3/2.0 (+1)	1,130 (+13%)	18mo	$279,000	$247	20

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 · 0.84% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.28×
• Total profit: $-42,629
• Equity at exit: $31,312

10-year hold

• IRR: -20.6%
• Equity multiple: 0.02×
• Total profit: $-57,576
• Equity at exit: $18,157

Cash invested: $58,800 (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 27703

• Rents YoY: 0.8%
• Active inventory: 1122
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,664 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$205 /mo · $2,462/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-79

Break-even live

Break-even rent $1,765

Max offer price $195,995

Occupancy floor 100%

Sensitivity live

Price	-10% $40	-5% $-20	+0% $-79	+5% $-139	+10% $-198
Rent	-10% $-211	-5% $-145	+0% $-79	+5% $-14	+10% $52
Rate	-1.0pp $26	-0.5pp $-26	base $-79	+0.5pp $-134	+1.0pp $-189

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 Cushman St Durham, NC	3.0	1.0	1000	$1,650	$1.65	25d	1	0.11mi
419 Walton St Durham, NC	3.0	1.5	1212	$1,595	$1.32	15d	1	0.25mi
70 Lynn Rd Durham, NC	1.0–3.0	1.0–2.0	1019	$1,441	$1.41	25d	1	0.28mi
3216 Hursey St Durham, NC	2.0	2.0	1064	$1,700	$1.60	15d	1	0.47mi
818 Riverbark Ln Durham, NC	3.0	2.0	1252	$1,875	$1.50	25d	1	0.86mi
3004 Forrestal Dr Durham, NC	3.0	3.0	1500	$1,875	$1.25	25d	1	0.87mi
3107 Ivey Wood Ln Durham, NC	2.0	1.5	1008	$1,625	$1.61	25d	1	0.94mi
3004 Ivey Wood Ln Durham, NC	2.0–3.0	1.0–2.0	988	$1,399	$1.42	15d	12	1.03mi
3262 Ivey Wood Ln Unit 1 Durham, NC	3.0	2.5	1380	$1,675	$1.21	15d	1	1.07mi
3290 Ivey Wood Ln Unit 1 Durham, NC	2.0	2.5	1150	$1,495	$1.30	25d	1	1.08mi
3290 Ivey Wood Ln Durham, NC	2.0	3.0	1150	$1,495	$1.30	25d	1	1.08mi
612 Kendall Dr Durham, NC	2.0	2.0	970	$1,325	$1.37	25d	1	1.09mi
1218 Kendall Dr Durham, NC	3.0	2.5	1408	$1,820	$1.29	25d	1	1.09mi
13 Wetherburn Pl Durham, NC	3.0	2.0	1130	$1,795	$1.59	25d	1	1.26mi
2810 Ashe St Durham, NC	3.0	2.0	1300	$2,370	$1.82	25d	1	1.27mi
401 Sparella St Durham, NC	3.0	2.0	1046	$1,620	$1.55	15d	1	1.33mi
205 Spring St Durham, NC	1.0	1.0	785	$1,400	$1.78	25d	1	1.33mi
1911 Fidelity Dr Durham, NC	3.0	2.0	1209	$1,815	$1.50	25d	1	1.41mi
518 N Hardee St Durham, NC	1.0–2.0	1.0–1.5	665	$1,299	$1.95	25d	1	1.47mi

Listing history 16 events

1. 2026-06-03
   status $210,000 Pending 30 DOM
2. 2026-06-02
   days on market $210,000 Active 30 DOM
3. 2026-06-01
   days on market $210,000 Active 29 DOM
4. 2026-05-31
   days on market $210,000 Active 28 DOM
5. 2026-05-30
   days on market $210,000 Active 27 DOM
6. 2026-05-11
   historical Active Under Contract
7. 2026-05-02
   listed $210,000 Active
8. 2025-04-05
   historical $1,399
9. 2025-03-11
   listed $1,399
10. 2022-10-17
    soldstatus $210,000 Closed 555-char remark

    Show marketing remark (555 chars)

    Welcome to this charming neighborhood! You don't want to miss this home with a quaint front porch now on the market. This kitchen is ready for cooking with ample counter space and cabinets for storage. Well placed windows create a bright and welcoming interior. Easily flow from room to room with this great floor plan. The main bedroom and bathroom give you the perfect space for everyday living. Lush green landscape surrounds this beautiful house. Don't miss this incredible opportunity! This home has been virtually staged to illustrate its potential.

11. 2022-10-17
    soldstatus $210,000 555-char remark

    Show marketing remark (555 chars)

    Welcome to this charming neighborhood! You don't want to miss this home with a quaint front porch now on the market. This kitchen is ready for cooking with ample counter space and cabinets for storage. Well placed windows create a bright and welcoming interior. Easily flow from room to room with this great floor plan. The main bedroom and bathroom give you the perfect space for everyday living. Lush green landscape surrounds this beautiful house. Don't miss this incredible opportunity! This home has been virtually staged to illustrate its potential.

12. 2022-10-17
    soldstatus $210,000

    Show marketing remark (555 chars)

    Welcome to this charming neighborhood! You don't want to miss this home with a quaint front porch now on the market. This kitchen is ready for cooking with ample counter space and cabinets for storage. Well placed windows create a bright and welcoming interior. Easily flow from room to room with this great floor plan. The main bedroom and bathroom give you the perfect space for everyday living. Lush green landscape surrounds this beautiful house. Don't miss this incredible opportunity! This home has been virtually staged to illustrate its potential.

13. 2022-10-04
    status Pending 555-char remark

    Show marketing remark (555 chars)

    Welcome to this charming neighborhood! You don't want to miss this home with a quaint front porch now on the market. This kitchen is ready for cooking with ample counter space and cabinets for storage. Well placed windows create a bright and welcoming interior. Easily flow from room to room with this great floor plan. The main bedroom and bathroom give you the perfect space for everyday living. Lush green landscape surrounds this beautiful house. Don't miss this incredible opportunity! This home has been virtually staged to illustrate its potential.

14. 2022-09-28
    listed $215,000 Active 555-char remark

    Show marketing remark (555 chars)

    Welcome to this charming neighborhood! You don't want to miss this home with a quaint front porch now on the market. This kitchen is ready for cooking with ample counter space and cabinets for storage. Well placed windows create a bright and welcoming interior. Easily flow from room to room with this great floor plan. The main bedroom and bathroom give you the perfect space for everyday living. Lush green landscape surrounds this beautiful house. Don't miss this incredible opportunity! This home has been virtually staged to illustrate its potential.

15. 2022-09-28
    listed $215,000 555-char remark

    Show marketing remark (555 chars)

    Welcome to this charming neighborhood! You don't want to miss this home with a quaint front porch now on the market. This kitchen is ready for cooking with ample counter space and cabinets for storage. Well placed windows create a bright and welcoming interior. Easily flow from room to room with this great floor plan. The main bedroom and bathroom give you the perfect space for everyday living. Lush green landscape surrounds this beautiful house. Don't miss this incredible opportunity! This home has been virtually staged to illustrate its potential.

16. 2022-08-29
    soldstatus $212,000

ⓘ 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: $2,462 · $205/mo
• Projected year-2 tax: $2,462 · $205/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 3/10 Moderate FEMA zone X (unshaded) · 12% 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 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: $19,970
• − Mortgage interest: −$11,763
• − Property taxes: −$2,462
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$6,109
• Taxable loss: −$4,610
• Est. tax savings @ 24.0%: +$1,106
• After-tax cash flow: $155/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: Durham Public Schools
• NCES district ID: 3701260
• Math proficiency: 29% ▼ -3.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $52,143
• Composite: 29.69/100
• National rank: #6457
• State rank: #132 of 178 in NC

Livability — Durham

• Score: 81/100
• State rank: #15
• US rank: #1411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Durham, NC
• County: Durham County · 288,747 people
• City population: 288,747
• Metro: Durham-Chapel Hill, NC
• Population (ZIP): 63,458
• Household income: $89,317
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1685.0

Population outlook (Durham County) Hauer SSP2

• Today (2025): 368,962 people
• By 2030: 402,686 · +9.1%
• By 2040: 468,677 · +27.0%
• By 2050: 531,727 · +44.1%
• By 2075: 660,446 · +79.0%
• By 2100: 739,971 · +100.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 40% White 32% Hispanic / Latino 20% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Swiss 2% Romanian 2% Italian 1%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 77% English-only · Spanish 17% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Durham

• 2024 margin: Solid D (+61.9) · D 80.2% · R 18.2% · Other 1.6%
• 2008→2024 swing: +10.0pp toward D · 2008: 51.9pp · 2024: 61.9pp
• All cycles: 2024: D+61.9 2020: D+62.4 2016: D+60.4 2012: D+52.7 2008: D+51.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.81%
• Current HPI: 206.7413
• Rent YoY: ▲ 0.84%
• Metro: Durham-Chapel Hill, 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

-0.9% since first listed

11 events — show timeline

• 2026-05-11 Contingent — TMLS
• 2026-05-02 Listed $210,000 TMLS
• 2025-04-05 Rental Removed $1,399 RENT.
• 2025-03-11 Listed for Rent $1,399 RENT.
• 2022-10-17 Sold (Public Records) $210,000 Public Records
• 2022-10-17 Sold (MLS) $210,000 AMLSNC
• 2022-10-17 Sold (MLS) $210,000 TMLS
• 2022-10-04 Pending — TMLS
• 2022-09-28 Listed $215,000 AMLSNC
• 2022-09-28 Listed $215,000 TMLS
• 2022-08-29 Sold (Public Records) $212,000 Public Records

Property tax history

+13.1%/yr

Latest (2025): $2,462 · +89.5% YoY. Source: county tax records.