2403 Savior St · Raleigh, NC 27610

$224,999

2 bd · 2.5 ba · 1,314 sqft · Townhouse public records · 83 Days on market

Built 2009 871 sqft lot $149/mo HOA · 8% 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 +11.0/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• 1% rule +3.5/10.0
• DSCR +3.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Price Improvement! 2025 HVAC! Seller willing to give $3-5k in closing cost!! Welcome home to 2403 Savior St, a 2-bedroom, 2.5 bath townhome located in the Providence Townes community. The main level offers an open, functional layout with dedicated dining space, and a kitchen designed for everyday ease. Upstairs, both bedrooms feature private bath access--ideal for flexibility, or guests. Whether you're a first-time buyer or investor, this property checks the boxes! Property is currently tenant occupied on 60 day by 60 day rental agreement. Showings require 24- hour notice and are by appointment only. Buyer to assume lease if tenant remains, or property will be delivered vacant if ten

Key facts

• $149 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Lot approximately 0.02 acres (about 871 sq ft); Zoning: R-6
• HOA & community: Community association (HRW Providence Townes / HRW); Monthly association fee; Association also charges a quarterly fee; Association covers grounds maintenance; Community pool

Exterior

• Parking: Assigned parking spaces in a parking lot; 2 open parking spaces (total 2)
• Utilities: Public water; Public sewer
• Home design: Townhouse; Two levels; 2+ common walls
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built as townhouse
• Exterior features: Community outdoor pool; Community sidewalks; No waterfront

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans for cooling
• Interior features: Bathtub/shower combination; Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet; Laundry located on upper level; Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (15.1% below list).
• Recommended offer: $191k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.7% in Raleigh — 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 83/100 on livability (#10 in NC, #1,028 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• 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: Walnut Creek Elementary (math 23% / reading 32%, grade F, #1,028 of 1,410 statewide, top 73%, 497 students, 99% FRL); Carnage Middle (math 63% / reading 69%, grade A-, #26 of 475 statewide, top 5%, 844 students, 32% FRL) — zoned schools average 66% FRL vs 30% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 594 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).
• This rent runs 34% of the median local income ($68k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $84k; list at $225k implies a 168% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% 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 $191,009 (15.1% 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 83 days. Have you received any prior offers? Is the seller open to a 15% 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. 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.85% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.2% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.24×
• Total profit: $-47,571
• Equity at exit: $33,548

10-year hold

• IRR: -26.3%
• Equity multiple: -0.10×
• Total profit: $-69,141
• Equity at exit: $19,454

Cash invested: $63,000 (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 27610

• Rents YoY: 0.2%
• Active inventory: 594
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,910 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$179 /mo · $2,154/yr
• Insurance: −$94
• HOA: −$149
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-93

Break-even live

Break-even rent $2,028

Max offer price $208,539

Occupancy floor 100%

Sensitivity live

Price	-10% $34	-5% $-29	+0% $-93	+5% $-157	+10% $-221
Rent	-10% $-244	-5% $-169	+0% $-93	+5% $-18	+10% $58
Rate	-1.0pp $20	-0.5pp $-36	base $-93	+0.5pp $-151	+1.0pp $-211

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2411 Aurora Cove Ct Raleigh, NC	1.0–3.0	1.0–2.0	1001	$1,594	$1.59	3d	12	0.39mi
2423 Small Branch Trl Raleigh, NC	3.0	3.0	1592	$2,450	$1.54	5d	1	0.41mi
2419 Small Branch Trl Raleigh, NC	3.0	3.0	1592	$2,525	$1.59	5d	1	0.41mi
2417 Small Branch Trl Raleigh, NC	3.0	3.0	1592	$2,450	$1.54	5d	1	0.41mi
2413 Small Branch Trl Raleigh, NC	3.0	2.5	1592	$2,488	$1.56	16d	30	0.41mi
2147 Sunny Cove Dr Raleigh, NC	3.0	2.5	1710	$1,895	$1.11	25d	1	0.46mi
3243 Warm Springs Ln Raleigh, NC	1.0	1.0	1600	$650	$0.41	22d	1	0.48mi
3243 Warm Springs Ln Raleigh, NC	1.0	1.0	1575	$550	$0.35	25d	1	0.48mi
2321 Stoney Spring Dr Raleigh, NC	1.0–2.0	1.0–2.0	879	$1,541	$1.75	3d	103	0.48mi
3509 Slippery Elm Dr Raleigh, NC	3.0	2.0	1853	$1,895	$1.02	25d	1	0.51mi
3512 Slippery Elm Dr Raleigh, NC	3.0	2.5	1710	$1,995	$1.17	25d	1	0.53mi
1423 Tamarino Dr Raleigh, NC	3.0	2.5	1400	$1,895	$1.35	18d	1	0.60mi
737 Southgate Dr Raleigh, NC	3.0	2.5	1332	$1,845	$1.39	5d	1	0.61mi
3208 Mango Dr Raleigh, NC	3.0	2.5	1629	$1,750	$1.07	25d	1	0.67mi
3109 Ebony Ct Raleigh, NC	3.0	1.5	1248	$1,799	$1.44	25d	1	0.71mi
1611 Royal Foxhound Ln Raleigh, NC	2.0–4.0	2.0	1214	$1,299	$1.07	3d	31	0.80mi
2806 Dillmark Ct Raleigh, NC	2.0	1.5	1080	$1,295	$1.20	21d	1	0.81mi
2012 Winston Diamond Ct Raleigh, NC	3.0	2.5	1369	$1,830	$1.34	25d	1	0.83mi
2706 Big Oak St Raleigh, NC	2.0	1.5	1200	$1,450	$1.21	25d	1	0.88mi
1506 Creech Rd Garner, NC	1.0–3.0	1.0–2.0	948	$1,366	$1.44	25d	1	0.92mi
2720 Midway Park Ct Raleigh, NC	3.0	2.0	1100	$1,700	$1.55	21d	1	0.95mi
2409 Foxtrot Rd Raleigh, NC	2.0	1.0	1200	$2,300	$1.92	25d	1	0.98mi
2292 Fox Ridge Manor Rd Raleigh, NC	2.0–3.0	1.5–2.5	1124	$1,350	$1.20	13d	1	1.02mi
1622 Proctor Rd Raleigh, NC	2.0–3.0	1.0	829	$1,255	$1.51	4d	6	1.25mi
3408 Monsieur Ct Raleigh, NC	3.0	2.5	1404	$1,850	$1.32	5d	1	1.47mi

HOA detail

• Monthly dues: $149 · $1,788/yr

Listing history 27 events

1. 2026-06-21
   days on market $224,999 Active 83 DOM
2. 2026-06-18
   days on market $224,999 Active 80 DOM
3. 2026-06-17
   days on market $224,999 Active 79 DOM
4. 2026-06-16
   days on market $224,999 Active 78 DOM
5. 2026-06-15
   days on market $224,999 Active 77 DOM
6. 2026-06-13
   days on market $224,999 Active 75 DOM
7. 2026-06-13
   days on market $224,999 Active 74 DOM
8. 2026-06-09
   days on market $224,999 Active 71 DOM
9. 2026-06-08
   days on market $224,999 Active 70 DOM
10. 2026-06-07
    days on market $224,999 Active 69 DOM
11. 2026-06-05
    days on market $224,999 Active 66 DOM
12. 2026-06-03
    days on market $224,999 Active 65 DOM
13. 2026-06-02
    days on market $224,999 Active 64 DOM
14. 2026-06-01
    days on market $224,999 Active 63 DOM
15. 2026-05-31
    days on market $224,999 Active 62 DOM
16. 2026-05-22
    price $229,999
17. 2026-04-12
    price $234,999
18. 2026-03-30
    listed $244,999 Active
19. 2026-02-27
    historical
20. 2025-11-12
    listed $249,000 Active
21. 2025-10-31
    historical
22. 2025-10-15
    price $249,500
23. 2025-08-29
    price $249,999
24. 2025-07-22
    listed $260,000 Active
25. 2011-08-19
    historical
26. 2009-12-08
    listed $99,340
27. 2009-07-17
    soldstatus $84,000

ⓘ 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: $2,154 · $179/mo
• Projected year-2 tax: $2,154 · $179/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $22,921
• − Mortgage interest: −$12,603
• − Property taxes: −$2,154
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,834
• − Management: −$1,834
• − HOA: −$1,788
• − Depreciation: −$6,545
• Taxable loss: −$4,962
• Est. tax savings @ 24.0%: +$1,191
• After-tax cash flow: $73/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 — Raleigh

• Score: 83/100
• State rank: #10
• US rank: #1028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raleigh, NC
• County: Wake County · 1,216,256 people
• City population: 569,344
• Metro: Raleigh-Cary, NC
• Population (ZIP): 81,419
• Household income: $67,932
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 3499.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 59% Hispanic / Latino 20% White 15% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1% Dominican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 14% · Canada
• Languages at home: 77% English-only · Spanish 18% Arabic 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: ▼ -131.88%
• Current HPI: 237.704
• Rent YoY: ▲ 0.20%
• 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

+173.8% since first listed

12 events — show timeline

• 2026-05-22 Price Changed $229,999 TMLS
• 2026-04-12 Price Changed $234,999 TMLS
• 2026-03-30 Listed $244,999 TMLS
• 2026-02-27 Listing Removed — TMLS
• 2025-11-12 Listed $249,000 TMLS
• 2025-10-31 Listing Removed — TMLS
• 2025-10-15 Price Changed $249,500 TMLS
• 2025-08-29 Price Changed $249,999 TMLS
• 2025-07-22 Listed $260,000 TMLS
• 2011-08-19 Listing Removed — TMLS
• 2009-12-08 Listed $99,340 TMLS
• 2009-07-17 Sold (Public Records) $84,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,154 · +0.4% YoY. Source: county tax records.