415 Southern St · Fuquay-Varina, NC 27526

$125,000

3 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 14 Days on market

Built 1955 8,712 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Equity Builder in High-Growth Fuquay-Varina! Calling all investors and savvy contractors! Bring your toolbelt and your vision to 415 Southern Street. Located in the heart of Fuquay-Varina, this 1955 conventional classic offers a solid 1,360 square feet of blank-canvas potential, featuring a 3-bedroom, 1-bathroom layout situated on a spacious 0.2-acre lot. Whether you are looking for your next fix-and-flip project or a high-yield buy-and-hold rental in a strong market, this property provides the ideal footprint to maximize your ROI. Nestled in a convenient location just minutes from downtown Fuquay-Varina, schools, and local amenities, the growth potential here is undeniable. Add this one to

Key facts

• Spacious lot
• Convenient location
• 8,712 sq ft lot

Tags

• SPACIOUS LOT
• CONVENIENT LOCATION

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Two open parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story house
• Construction: Concrete construction materials; Concrete perimeter foundation; Architectural shingle roof; Built as a house (single structure)
• Exterior features: Front porch; Side porch; 0.2-acre lot

Interior

• Kitchen: Refrigerator
• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Concrete; Other
• Bathrooms: One full bathroom
• Heating & cooling: No central heating; Window unit cooling
• Interior features: Refrigerator included; Concrete and other flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 12.7% vs local median 3.0% in Fuquay-Varina — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fuquay-Varina Middle (math 42% / reading 55%, grade C-, #127 of 475 statewide, top 28%, 1,164 students, 29% FRL); Fuquay-Varina High (math 65% / reading 67%, grade B, #154 of 535 statewide, top 29%, 1,940 students, 26% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents rising (+3.1%/yr); 1166 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 57% 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 $125,000

Questions for the listing agent

1. Built in 1955 — 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. 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.
4. 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.
5. 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: 1.52% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.94%
• DSCR: 2.02
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $333,200
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
433 Kellywood Ct	0.19mi	3/2.0	1,246 (-8%)	1mo	$305,000	$245	72
104 Lawrence St	0.26mi	3/2.0	1,221 (-10%)	7mo	$293,000	$240	61
1060 Kafka Dr	0.57mi	3/2.0	1,452 (+7%)	3mo	$357,000	$246	56
617 Moon Shadow Ct	0.56mi	3/2.0	1,435 (+6%)	10mo	$379,000	$264	52
500 Hunters Ridge Dr	0.61mi	3/2.0	1,478 (+9%)	11mo	$344,900	$233	44

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 · 3.12% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 1.65×
• Total profit: $22,598
• Equity at exit: $18,638

10-year hold

• IRR: 24.7%
• Equity multiple: 3.16×
• Total profit: $75,529
• Equity at exit: $10,808

Cash invested: $35,000 (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 27526

• Home prices YoY: -33.0%
• Rents YoY: 3.1%
• Active inventory: 1166
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,898 high
• Mortgage (P&I): −$656
• Tax from tax record: −$123 /mo · $1,471/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $669

Break-even live

Break-even rent $1,051

Max offer price $125,000

Occupancy floor 60%

Sensitivity live

Price	-10% $740	-5% $704	+0% $669	+5% $634	+10% $598
Rent	-10% $519	-5% $594	+0% $669	+5% $744	+10% $819
Rate	-1.0pp $732	-0.5pp $701	base $669	+0.5pp $637	+1.0pp $604

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 Kellywood Ct Fuquay Varina, NC	3.0	2.0	1246	$1,950	$1.57	24d	1	0.17mi
317 Cherry Laurel Dr Sanford, NC	3.0	2.5	1428	$1,750	$1.23	12d	1	0.18mi
500 N Main St Jamestown, NC	1.0–2.0	1.0–2.0	797	$1,250	$1.57	15d	4	0.49mi
145 S Main St #405 Fuquay Varina, NC	2.0	2.0	898	$1,695	$1.89	24d	1	0.56mi
712 Kimpton Ct Fuquay Varina, NC	3.0	3.0	1308	$1,700	$1.30	22d	1	0.56mi
535 Smithridge Way Fuquay Varina, NC	3.0	2.5	1600	$1,950	$1.22	18d	1	0.66mi
401 Three Meadows Rd Fuquay Varina, NC	3.0	2.0	1444	$1,935	$1.34	5d	1	0.85mi
203 E Ransom St Fuquay Varina, NC	2.0	1.0	927	$1,050	$1.13	24d	1	0.90mi
203 E Ransom St Unit 3d Fuquay-Varina, NC	2.0	1.0	931	$1,050	$1.13	5d	1	0.90mi
205 E Ransom St Unit 3D Fuquay-Varina, NC	2.0	1.0	922	$1,250	$1.36	24d	1	0.91mi
303 Parker Station Ave Fuquay Varina, NC	3.0	2.5	1755	$1,795	$1.02	24d	1	1.07mi
1401 Ravensthorpe Dr Fuquay Varina, NC	3.0	2.0	1356	$1,795	$1.32	11d	1	1.08mi
1932 Stroll Cir Fuquay Varina, NC	3.0	3.0	1280	$1,770	$1.38	13d	1	1.09mi
1932 Stroll Cir Fuquay Varina, NC	3.0	2.5	1280	$1,770	$1.38	24d	1	1.09mi
1920 Stroll Cir Fuquay Varina, NC	3.0	2.5	1286	$1,699	$1.32	24d	1	1.11mi
1512 Kempsey Cir Fuquay Varina, NC	3.0	2.0	1410	$1,725	$1.22	13d	1	1.11mi
1615 Stroll Cir Fuquay Varina, NC	2.0	2.5	1260	$1,450	$1.15	15d	1	1.15mi
204 Parker Station Ave Fuquay Varina, NC	3.0	2.5	1735	$1,795	$1.03	22d	1	1.16mi
602 Oakbrook Pass Way Fuquay Varina, NC	3.0	2.5	1700	$2,122	$1.25	3d	6	1.23mi
433 Creekway Dr Fuquay Varina, NC	3.0	2.5	1163	$1,595	$1.37	5d	1	1.24mi
433 Creekway Dr Unit 437 Fuquay-Varina, NC	3.0	2.5	1223	$1,625	$1.33	24d	1	1.24mi
7000 Meridian Market Dr Fuquay-Varina, NC	1.0–3.0	1.0–2.0	1049	$2,150	$2.05	3d	31	1.25mi
504 Quest Ridge Dr Fuquay Varina, NC	3.0	2.0	1280	$1,895	$1.48	24d	1	1.27mi
612 Creekway Dr Fuquay Varina, NC	3.0	2.5	1803	$1,995	$1.11	24d	1	1.33mi
533 Citrus Petal Rd Fuquay Varina, NC	3.0	2.5	1738	$1,850	$1.06	24d	1	1.34mi
620 Prickly Pear Dr Fuquay Varina, NC	3.0	2.5	1802	$1,725	$0.96	13d	1	1.37mi
903 Clearhaven Ln Fuquay Varina, NC	3.0	2.5	1625	$1,795	$1.10	17d	1	1.43mi
928 Clearhaven Ln Fuquay Varina, NC	3.0	3.0	1600	$1,800	$1.12	24d	1	1.44mi
1012 S Willhaven Dr Fuquay Varina, NC	3.0	2.0	1260	$1,795	$1.42	3d	1	1.45mi
932 Clearhaven Ln Fuquay Varina, NC	3.0	2.5	1850	$1,945	$1.05	24d	1	1.45mi
217 Brook Farm Ln Fuquay Varina, NC	3.0	2.5	1597	$1,980	$1.24	3d	1	1.49mi

Listing history 11 events

1. 2026-06-21
   days on market $125,000 Active 14 DOM
2. 2026-06-18
   days on market $125,000 Active 11 DOM
3. 2026-06-17
   days on market $125,000 Active 10 DOM
4. 2026-06-16
   days on market $125,000 Active 9 DOM
5. 2026-06-15
   days on market $125,000 Active 8 DOM
6. 2026-06-13
   days on market $125,000 Active 6 DOM
7. 2026-06-13
   status $125,000 Active 5 DOM
8. 2026-06-08
   statusdays on market $125,000 Pending 5 DOM
9. 2026-06-07
   days on market $125,000 Active 4 DOM
10. 2026-06-05
    remarks 699-char remark
11. 2026-06-05
    listed $125,000 Active 1 DOM

ⓘ 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: $1,471 · $123/mo
• Projected year-2 tax: $1,471 · $123/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 1/10 Low FEMA zone X (unshaded) · 0% 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 57% 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: $22,773
• − Mortgage interest: −$7,002
• − Property taxes: −$1,471
• − Insurance: −$625
• − Repairs & maintenance: −$1,822
• − Management: −$1,822
• − Depreciation: −$3,636
• Taxable income: $6,396
• Est. tax owed @ 24.0%: −$1,535
• After-tax cash flow: $6,494/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: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Fuquay-Varina

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Fuquay-Varina, NC
• County: Wake County · 1,216,256 people
• Metro: Raleigh-Cary, NC
• Population (ZIP): 61,588
• Household income: $110,017
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 844.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 14% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Slovak 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.48%
• Current HPI: 246.1976
• Rent YoY: ▲ 3.12%
• Metro: Raleigh-Cary, 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

1 event — show timeline

• 2026-06-03 Listed $125,000 TMLS

Property tax history

+15.0%/yr

Latest (2025): $1,471 · +0.4% YoY. Source: county tax records.