417 Merriman St · Eden, NC 27288

$75,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 69 Days on market

Built 1945 7,405 sqft lot Est $117k · 36% under

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 7,405 sq ft lot
• Built 1945
• Listed 68 days

Property features AI

Finance

• Other: Building area reported as 850 (area value provided)
• HOA & community: No homeowners association; Located in the Village Of Draper

Exterior

• Parking: Gravel parking
• Utilities: Public sewer; Electric water heater
• Home design: Residential stick/site-built house; One story; Built in 1945; Existing structure
• Construction: Block construction
• Exterior features: Public water; Public maintained road; Lot approximately 0.17 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; No fuel heating listed; No cooling
• Interior features: Primary bedroom on the main level
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 4.3% in Eden — 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 67/100 on livability (#224 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime D-, amenities F.
• Rockingham County Schools (rural): math 38% / reading 40% proficiency, ranked #120 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 208 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); 344 units permitted in Rockingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rockingham County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $75k implies a 650% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
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: 1.37% ✓
• Cap rate: 11.78%
• Cash-on-cash: 19.61%
• DSCR: 1.87
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $116,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 S Byrd St	0.10mi	2/1.0	861 (+2%)	6mo	$120,000	$139	86
124 S Byrd St	0.31mi	2/1.0	816 (-3%)	1mo	$92,000	$113	80
1424 South Ave	0.28mi	2/1.5	801 (-5%)	12mo	$155,000	$194	67
1108 Maryland Ave	0.46mi	2/1.0	825 (-2%)	14mo	$23,000	$28	64
501 Overby St	0.37mi	3/1.0 (+1)	890 (+6%)	6mo	$145,000	$163	62
107 S High St	0.55mi	2/1.0	803 (-4%)	6mo	$23,000	$29	62
1202 Ridge Ave	0.52mi	2/1.0	937 (+12%)	1mo	$47,500	$51	56
311 S Fieldcrest Rd	0.36mi	2/1.0	932 (+11%)	12mo	$148,000	$159	55
1233 Front St	0.72mi	2/1.0	777 (-8%)	6mo	$120,000	$154	49
545 S Fieldcrest Rd	0.65mi	2/1.0	922 (+10%)	10mo	$150,000	$163	45
1411 Ridge Ave	0.53mi	2/1.0	964 (+15%)	8mo	$89,500	$93	44
1140 Fieldcrest Rd	0.68mi	1/1.0 (-1)	752 (-10%)	14mo	$32,000	$43	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.46×
• Total profit: $9,689
• Equity at exit: $11,183

10-year hold

• IRR: 20.6%
• Equity multiple: 2.74×
• Total profit: $36,520
• Equity at exit: $6,485

Cash invested: $21,000 (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 27288

• Home prices YoY: -26.5%
• Active inventory: 208
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,028 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$44 /mo · $529/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $343

Break-even live

Break-even rent $593

Max offer price $75,000

Occupancy floor 62%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1318 Ridge Ave Eden, NC	2.0	2.0	783	$1,100	$1.40	21d	1	0.49mi
1314 Front St Eden, NC	2.0	1.0	1040	$1,100	$1.06	23d	1	0.70mi
1318 Front St Eden, NC	3.0	1.0	1007	$1,000	$0.99	23d	1	0.70mi

Listing history 20 events

1. 2026-06-18
   days on market $75,000 Active 69 DOM
2. 2026-06-17
   days on market $75,000 Active 68 DOM
3. 2026-06-16
   days on market $75,000 Active 67 DOM
4. 2026-06-15
   price $75,000 Active 66 DOM
5. 2026-06-15
   days on market $85,000 Active 66 DOM
6. 2026-06-14
   days on market $85,000 Active 64 DOM
7. 2026-06-13
   days on market $85,000 Active 63 DOM
8. 2026-06-10
   days on market $85,000 Active 61 DOM
9. 2026-06-09
   days on market $85,000 Active 60 DOM
10. 2026-06-08
    days on market $85,000 Active 59 DOM
11. 2026-06-07
    days on market $85,000 Active 58 DOM
12. 2026-06-03
    days on market $85,000 Active 54 DOM
13. 2026-06-02
    days on market $85,000 Active 53 DOM
14. 2026-06-01
    days on market $85,000 Active 52 DOM
15. 2026-05-31
    days on market $85,000 Active 51 DOM
16. 2026-05-31
    days on market $85,000 Active 50 DOM
17. 2026-05-22
    price $85,000
18. 2026-04-28
    price $95,000
19. 2026-04-10
    listed $110,000 Active
20. 1997-05-19
    soldstatus $10,000

ⓘ 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: $529 · $44/mo
• Projected year-2 tax: $615 · $51/mo
• Expected delta: +$86/yr (+$7/mo · 16.3%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $12,331
• − Mortgage interest: −$4,201
• − Property taxes: −$529
• − Insurance: −$375
• − Repairs & maintenance: −$987
• − Management: −$987
• − Depreciation: −$2,182
• Taxable income: $3,071
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $3,381/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: Rockingham County Schools
• NCES district ID: 3703990
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $38,914
• Composite: 32.6/100
• National rank: #5673
• State rank: #120 of 178 in NC

Livability — Eden

• Score: 67/100
• State rank: #224
• US rank: #10535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eden, NC
• County: Rockingham County · 22,926 people
• City population: 22,926
• Metro: Greensboro-High Point, NC
• Population (ZIP): 22,926
• Household income: $52,594
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 860.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 87,103 people
• By 2030: 83,763 · -3.8%
• By 2040: 76,082 · -12.7%
• By 2050: 68,106 · -21.8%
• By 2075: 52,531 · -39.7%
• By 2100: 39,871 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 23% Hispanic / Latino 6% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Rockingham

• 2024 margin: Solid R (+35.9) · D 31.7% · R 67.6%
• 2008→2024 swing: -19.9pp toward R · 2008: -16.0pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+32.0 2016: R+30.0 2012: R+21.3 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.28%
• Current HPI: 183.5709
• Rent YoY: —
• Metro: Greensboro-High Point, 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

+750.0% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $85,000 Triad MLS
• 2026-04-28 Price Changed $95,000 Triad MLS
• 2026-04-10 Listed $110,000 Triad MLS
• 1997-05-19 Sold (Public Records) $10,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $529 · +0.0% YoY. Source: county tax records.