611 E Raleigh St · Siler City, NC 27344

$259,000

4 bd · 3.0 ba · 2,350 sqft · MultiFamily public records · 7 Days on market

Built 1959 0.45 ac lot

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Why this score? — see what drove the C- 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Paved drive, New Roof, one utility buidling. One side has an attached carport and the other has a detached carport. Renter has a month to month lease and loves where she lives. Her lease has run out. One side is vacant. Total sq. footage of this Duplex is 2350

Key facts

• 0.45 acre lot
• Built 1959
• Listed 7 days

Property features AI

Finance

• Other: Located in Chatham County
• HOA & community: No homeowners association

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex; Multi/split levels
• Construction: Brick construction; Brick/mortar foundation; Metal roof; Built area approximately 2,407
• Exterior features: Public maintained road access; Zoning: R-10; Approximately 0.45-acre lot

Interior

• Bedrooms: 4 bedrooms (all on the main level)
• Flooring: Plank; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (forced air); Central air conditioning
• Interior features: Plank and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $259k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive. Per door: $202/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Cap rate 8.2% vs local median 2.7% in Siler City — 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 68/100 on livability (#203 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Chatham County Schools (rural): math 45% / reading 51% proficiency, ranked #68 of 178 in NC (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Virginia Cross Elementary (math 22% / reading 25%, grade F, #1,160 of 1,410 statewide, top 83%, 455 students, 93% FRL); Chatham Middle (math 29% / reading 36%, grade F, #312 of 475 statewide, top 66%, 556 students, 89% FRL); Jordan Matthews High (math 42% / reading 51%, grade D-, #344 of 535 statewide, top 64%, 913 students, 76% FRL) — zoned schools average 86% FRL vs 45% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-14 pts) — the specific schools serving this property underperform the Chatham County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 114 active listings in the ZIP; 458 units permitted in Chatham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Chatham County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y ago 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.
• Current owner paid $105k; list at $259k implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $259,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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 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?
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: 1.00% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.69%
• DSCR: 1.30
• GRM: 8.3

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-16,266
• Equity at exit: $38,618

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $18,790
• Equity at exit: $22,394

Cash invested: $72,520 (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 27344

• Home prices YoY: -4.2%
• Active inventory: 114
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $2,591 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$176 /mo · $2,117/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $404

Break-even live

Break-even rent $2,079

Max offer price $259,000

Occupancy floor 79%

Sensitivity live

Price	-10% $551	-5% $478	+0% $404	+5% $331	+10% $258
Rent	-10% $200	-5% $302	+0% $404	+5% $507	+10% $609
Rate	-1.0pp $535	-0.5pp $470	base $404	+0.5pp $337	+1.0pp $269

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,592
Total (2 units)			$2,591

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   statusdays on market $259,000 Pending 7 DOM
2. 2026-06-18
   days on market $259,000 Active 6 DOM
3. 2026-06-17
   days on market $259,000 Active 5 DOM
4. 2026-06-16
   days on market $259,000 Active 4 DOM
5. 2026-06-16
   days on market $259,000 Active 3 DOM
6. 2026-06-13
   remarks 695-char remark
7. 2026-06-13
   listed $259,000 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: $2,117 · $176/mo
• Projected year-2 tax: $2,124 · $177/mo
• Expected delta: +$7/yr (+$1/mo · 0.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,092
• − Mortgage interest: −$14,508
• − Property taxes: −$2,117
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,487
• − Management: −$2,487
• − Depreciation: −$7,535
• Taxable income: $663
• Est. tax owed @ 24.0%: −$159
• After-tax cash flow: $4,693/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: Chatham County Schools
• NCES district ID: 3700750
• Math proficiency: 45% ▼ -1.00%
• Reading proficiency: 51% ▲ 1.00%
• Median HH income: $57,371
• Composite: 41.82/100
• National rank: #3390
• State rank: #68 of 178 in NC

Livability — Siler City

• Score: 68/100
• State rank: #203
• US rank: #9963

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Siler City, NC
• Population (ZIP): 18,804

Population outlook (Chatham County) Hauer SSP2

• Today (2025): 84,640 people
• By 2030: 90,521 · +6.9%
• By 2040: 99,791 · +17.9%
• By 2050: 106,565 · +25.9%
• By 2075: 119,165 · +40.8%
• By 2100: 122,958 · +45.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 45% Hispanic / Latino 33% Black 16% Two or more races 12%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 68% English-only · Spanish 31% German/W. Germanic 1%

Political lean MEDSL · Chatham

• 2024 margin: D (+12.5) · D 55.7% · R 43.2% · Other 1.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 9.7pp · 2024: 12.5pp
• All cycles: 2024: D+12.5 2020: D+11.5 2016: D+10.1 2012: D+4.8 2008: D+9.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.47%
• Current HPI: 285.6479
• Rent YoY: —
• Metro: —
• 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

+89.7% since first listed

7 events — show timeline

• 2026-06-12 Listed $259,000 TMLS
• 2007-02-21 Sold (Public Records) $105,000 Public Records
• 2007-02-20 Sold (MLS) $105,000 AMLSNC
• 2007-02-20 Sold (MLS) $105,000 TMLS
• 2007-01-22 Listing Removed — TMLS
• 2006-04-26 Listed $136,500 AMLSNC
• 2006-04-26 Listed $136,500 TMLS

Property tax history

+9.0%/yr

Latest (2021): $2,117 · +17.7% YoY. Source: county tax records.