524 Avon Ave · Burlington, NC 27215

$134,900

2 bd · 1.0 ba · 784 sqft · SingleFamily public records · 78 Days on market

Built 1947 4,792 sqft lot Est $140k · at est. ↓ 12% since listing

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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 +17.2/30.0
• ARV discount +9.2/15.0
• DSCR +5.4/10.0
• 1% rule +3.8/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a 'must see' home! Renovation just completed so everything which was replaced is brand new. The home has been updated and now features a Brand New mini split Heat Pump HVAC system to boot! Imagine preparing all of your favorite meals in this airy kitchen featuring not only new kitchen cabinets and gorgeous granite countertops but new fixtures as well. Drive down Avon Ave and you will see just about every home on this charming street has been beautifully restored and/or renovated. This is a rare opportunity to live on such a delightful and well maintained street as these homes rarely come to market. Even has a large and inviting backyard! Call to schedule your private showing at once as it is highly unlikely this home will remain on the market for very long!

Key facts

• New kitchen cabinets
• Granite countertops
• 4,792 sq ft lot

Tags

• NEW KITCHEN CABINETS
• GRANITE COUNTERTOPS
• LARGE AND INVITING BACKYARD

Property features AI

Finance

• Other: Lot about 0.11 acre (rough dimensions: 66 x 94 x 47 x 86)
• HOA & community: No association

Exterior

• Parking: 2 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story house; One level
• Construction: Vinyl siding; See remarks for foundation details; House structure
• Exterior features: Shingle roof; No waterfront

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump for heating; Heat pump for cooling
• Interior features: Varied flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $29 ($350/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 $119k (11.7% below list).
• Recommended offer: $119k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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); 317 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $933 of loan paydown is wiped out by about $4k 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 78 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wind risk, 20% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,143 (11.7% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.88% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.04%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $140,336
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
518 Avon Ave	0.02mi	2/1.0	784 (0%)	12mo	$140,000	$179	89
520 Avon Ave	0.01mi	2/1.0	806 (+3%)	15mo	$135,000	$167	82
601 Acorn St	0.16mi	2/1.0	825 (+5%)	9mo	$211,500	$256	76
818 Tucker St	0.19mi	3/1.0 (+1)	848 (+8%)	2mo	$127,500	$150	71
818 Avon Ave	0.32mi	2/1.0	812 (+4%)	10mo	$150,000	$185	71
608 Fix St	0.09mi	2/1.0	855 (+9%)	16mo	$100,000	$117	67
620 S Mebane St	0.18mi	1/1.0 (-1)	744 (-5%)	14mo	$143,000	$192	66
1024 S Main St	0.40mi	2/1.0	846 (+8%)	14mo	$85,000	$100	56
506 E 6th St	0.09mi	3/1.0 (+1)	900 (+15%)	23mo	$90,000	$100	47
1229 Kenwood Dr	0.58mi	3/1.0 (+1)	886 (+13%)	22mo	$189,900	$214	28

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-20,461
• Equity at exit: $20,114

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-17,297
• Equity at exit: $11,664

Cash invested: $37,772 (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: 317
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,191 high
• Mortgage (P&I): −$707
• Tax from tax record: −$82 /mo · $983/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $29

Break-even live

Break-even rent $1,154

Max offer price $134,900

Occupancy floor 93%

Sensitivity live

Price	-10% $106	-5% $67	+0% $29	+5% $-9	+10% $-47
Rent	-10% $-65	-5% $-18	+0% $29	+5% $76	+10% $123
Rate	-1.0pp $97	-0.5pp $63	base $29	+0.5pp $-6	+1.0pp $-41

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 S Broad St Burlington, NC	2.0	1.0	779	$1,100	$1.41	22d	1	0.23mi
321 E 5th St Burlington, NC	1.0	1.0	700	$850	$1.21	22d	1	0.24mi
516 Maple Ave Unit B Burlington, NC	1.0	1.0	869	$850	$0.98	22d	1	0.36mi
2076 Legacy Park Trl Burlington, NC	1.0–3.0	1.0–2.0	1025	$1,575	$1.54	22d	22	0.47mi
102-A/B W Summit Ave Unit B Burlington, NC	1.0	1.0	750	$895	$1.19	15d	1	0.49mi
131 Carolina Ave Burlington, NC	2.0	1.0	900	$1,295	$1.44	22d	1	0.54mi
939-941 S Church St Unit 939 Burlington, NC	1.0	1.0	583	$995	$1.71	22d	1	0.56mi
109 Craig St Unit 109-F Burlington, NC	2.0	1.0	750	$1,095	$1.46	15d	1	0.62mi
1515 S Mebane St Burlington, NC	1.0–2.0	1.0	727	$1,124	$1.55	15d	6	0.69mi
1528 S Mebane St Burlington, NC	2.0	1.0–1.5	528	$1,199	$2.27	22d	10	0.70mi
511 W Davis St Burlington, NC	2.0	2.0	840	$2,395	$2.85	22d	1	0.79mi
1907 Trail Five Burlington, NC	3.0	2.0	1100	$1,695	$1.54	22d	1	0.97mi
916 Harris St Burlington, NC	1.0	1.0	601	$895	$1.49	22d	1	1.02mi
607 N Main St Unit 609 Burlington, NC	1.0	1.0	568	$850	$1.50	22d	1	1.04mi
411 S Saint John St Burlington, NC	1.0	1.0	700	$1,100	$1.57	22d	1	1.06mi
709 Maryland Ave Burlington, NC	2.0	1.0	786	$1,225	$1.56	22d	1	1.07mi
1016 Grace Ave Burlington, NC	3.0	1.0	994	$1,245	$1.25	22d	1	1.14mi
910 N Main St Unit A Burlington, NC	2.0	2.0	1100	$1,395	$1.27	15d	1	1.19mi
306 N Ireland St Unit 306 Burlington, NC	2.0	1.0	807	$1,250	$1.55	22d	1	1.24mi
1016 Washington St Unit A Burlington, NC	1.0	1.0	650	$775	$1.19	22d	1	1.25mi
1515 Woodland Ave Burlington, NC	3.0	2.0	1101	$1,500	$1.36	15d	1	1.33mi
2008 S Mebane St Burlington, NC	2.0–3.0	1.5–2.0	1121	$1,200	$1.07	22d	1	1.39mi
1128 Ava St Burlington, NC	2.0	1.0	900	$1,200	$1.33	15d	1	1.42mi
2408 Ashton Park Ln Unit 1 Burlington, NC	2.0	2.0	939	$1,250	$1.33	22d	1	1.42mi
2408 Ashton Park Ln Burlington, NC	2.0	2.0	939	$1,195	$1.27	15d	1	1.42mi
2408 Ashton Park Ln Burlington, NC	2.0	2.0	939	$1,195	$1.27	22d	1	1.42mi

Listing history 9 events

1. 2026-06-01
   status $134,900 Pending 78 DOM
2. 2026-05-31
   days on market $134,900 Active 78 DOM
3. 2026-05-30
   days on market $134,900 Active 77 DOM
4. 2026-05-18
   price $134,900

   Show marketing remark (775 chars)

   This is a 'must see' home! Renovation just completed so everything which was replaced is brand new. The home has been updated and now features a Brand New mini split Heat Pump HVAC system to boot! Imagine preparing all of your favorite meals in this airy kitchen featuring not only new kitchen cabinets and gorgeous granite countertops but new fixtures as well. Drive down Avon Ave and you will see just about every home on this charming street has been beautifully restored and/or renovated. This is a rare opportunity to live on such a delightful and well maintained street as these homes rarely come to market. Even has a large and inviting backyard! Call to schedule your private showing at once as it is highly unlikely this home will remain on the market for very long!

5. 2026-05-18
   listed $134,900 Active 775-char remark

   Show marketing remark (775 chars)

   This is a 'must see' home! Renovation just completed so everything which was replaced is brand new. The home has been updated and now features a Brand New mini split Heat Pump HVAC system to boot! Imagine preparing all of your favorite meals in this airy kitchen featuring not only new kitchen cabinets and gorgeous granite countertops but new fixtures as well. Drive down Avon Ave and you will see just about every home on this charming street has been beautifully restored and/or renovated. This is a rare opportunity to live on such a delightful and well maintained street as these homes rarely come to market. Even has a large and inviting backyard! Call to schedule your private showing at once as it is highly unlikely this home will remain on the market for very long!

6. 2026-05-01
   status Active
7. 2026-04-09
   status Pending
8. 2026-02-20
   listed $144,900 Active
9. 2022-03-25
   soldstatus $154,000

ⓘ 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: $983 · $82/mo
• Projected year-2 tax: $1,106 · $92/mo
• Expected delta: +$123/yr (+$10/mo · 12.5%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 78% 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 5/10 Major 20% 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: $14,297
• − Mortgage interest: −$7,556
• − Property taxes: −$983
• − Insurance: −$1,472
• − Repairs & maintenance: −$1,144
• − Management: −$1,144
• − Depreciation: −$3,924
• Taxable loss: −$1,927
• Est. tax savings @ 24.0%: +$462
• After-tax cash flow: $813/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

-12.4% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $134,900 TMLS
• 2026-05-18 Listed $134,900 Triad MLS
• 2026-05-01 Relisted — TMLS
• 2026-04-09 Pending — TMLS
• 2026-02-20 Listed $144,900 TMLS
• 2022-03-25 Sold (Public Records) $154,000 Public Records

Property tax history

+13.6%/yr

Latest (2025): $983 · +2.6% YoY. Source: county tax records.