113 Oak Wind Dr #202 · Bermuda Run, NC 27006

$175,000

2 bd · 1.0 ba · 965 sqft · Condo public records · 45 Days on market

Built 2005 $256/mo HOA · 15% of rent

---

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 +12.4/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• Schools +4.4/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 2BR, 2BA second-floor condo with private balcony located in charming Kinderton Village. Enjoy a vibrant lifestyle with access to scenic walking trails, resident fishing areas, multiple playgrounds, basketball and volleyball courts, and a refreshing community pool. Conveniently located just minutes from shopping, medical facilities, and interstate 40 offering both comfort and accessibility. Perfect for those seeking low-maintenance living with great amenities in a great location.

Key facts

• $256 HOA
• Community pool
• Built 2005

Property features AI

Finance

• Other: Condo in Kinderton Condos
• HOA & community: Association: Winston-Salem; Monthly association fee of $256.30

Exterior

• Parking: Deck parking; On-street parking
• Security: Smoke detector(s); Dead bolt(s)
• Utilities: Public sewer; Public water; Electric water heater; Electric power
• Home design: Condominium; Stick/Site built; One story; Built in 2005
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Community pool; Private maintained road; Public water

Interior

• Kitchen: Microwave; Dishwasher; Disposal; Free-standing range
• Bedrooms: Primary bedroom on main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (heating and cooling); Electric heating
• Interior features: Primary bedroom on main level; Dead bolt(s); Smoke detector(s)
• Laundry & utility: Washer hookup on main level; Dryer connection; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-29 ($-342/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (4.3% below list).
• Recommended offer: $168k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.7% in Bermuda Run — 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 76/100 on livability (#42 in NC, #3,740 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A; Watch: amenities F, commute F.
• Davie County Schools (rural): math 51% / reading 52% proficiency, ranked #57 of 178 in NC (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pinebrook Elementary (math 56% / reading 53%, grade C, #302 of 1,410 statewide, top 23%, 475 students, 47% FRL); North Davie Middle (math 54% / reading 56%, grade B-, #80 of 475 statewide, top 17%, 439 students, 47% FRL); Davie County High (math 62% / reading 62%, grade B-, #184 of 535 statewide, top 37%, 1,770 students, 42% FRL).
• Market conditions: 142 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 250 units permitted in Davie County in 2024 (65 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 $5k of value loss. Plan a longer hold.
• Davie County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,556 (4.3% 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. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.96% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-30,061
• Equity at exit: $26,093

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-28,056
• Equity at exit: $15,131

Cash invested: $49,000 (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 27006

• Home prices YoY: -32.4%
• Active inventory: 142
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$106 /mo · $1,267/yr
• Insurance: −$73
• HOA: −$256
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-29

Break-even live

Break-even rent $1,712

Max offer price $169,962

Occupancy floor 97%

Sensitivity live

Price	-10% $71	-5% $21	+0% $-29	+5% $-78	+10% $-128
Rent	-10% $-161	-5% $-95	+0% $-29	+5% $38	+10% $104
Rate	-1.0pp $60	-0.5pp $16	base $-29	+0.5pp $-74	+1.0pp $-120

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Ariston Way Bermuda Run, NC	1.0	1.0	800	$1,390	$1.74	25d	1	0.73mi
3800 Old Rosebud Ct Unit D Clemmons, NC	2.0	2.0	1057	$1,800	$1.70	16d	1	1.18mi
3810 Old Rosebud Ct Clemmons, NC	2.0	2.0	1057	$1,400	$1.32	23d	1	1.20mi

HOA detail condo

• Monthly dues: $256 · $3,072/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-04-28
   historical Due Diligence Period
2. 2026-04-10
   listed $175,000 Active

ⓘ 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: $1,267 · $106/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$168/yr (+$14/mo · 13.3%)

ⓘ 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 ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,107
• − Mortgage interest: −$9,803
• − Property taxes: −$1,267
• − Insurance: −$875
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − HOA: −$3,072
• − Depreciation: −$5,091
• Taxable loss: −$3,218
• Est. tax savings @ 24.0%: +$772
• After-tax cash flow: $430/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: Davie County Schools
• NCES district ID: 3701170
• Math proficiency: 51% ▲ 2.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $51,331
• Composite: 44.16/100
• National rank: #2860
• State rank: #57 of 178 in NC

Livability — Bermuda Run

• Score: 76/100
• State rank: #42
• US rank: #3740

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bermuda Run, NC
• County: Davie County · 42,813 people
• Metro: Winston-Salem, NC
• Population (ZIP): 16,247
• Household income: $96,580
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 68.0

Population outlook (Davie County) Hauer SSP2

• Today (2025): 42,613 people
• By 2030: 42,691 · +0.2%
• By 2040: 42,137 · -1.1%
• By 2050: 40,445 · -5.1%
• By 2075: 35,939 · -15.7%
• By 2100: 29,103 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 3% Hispanic / Latino 3% Two or more races 3% Asian 1%
• Common ancestry: Slovak 4% Serbian 3% Romanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Davie

• 2024 margin: Solid R (+46.5) · D 26.2% · R 72.6% · Other 1.2%
• 2008→2024 swing: -8.2pp toward R · 2008: -38.3pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+45.5 2016: R+48.1 2012: R+43.7 2008: R+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.92%
• Current HPI: 179.445
• Rent YoY: —
• Metro: Winston-Salem, 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

2 events — show timeline

• 2026-04-28 Contingent — Triad MLS
• 2026-04-10 Listed $175,000 Triad MLS

Property tax history

+5.2%/yr

Latest (2025): $1,267 · +29.6% YoY. Source: county tax records.