609 Martha Pl · High Point, NC 27263

$139,000

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 34 Days on market

Built 1948 7,405 sqft lot Est $135k · at est.

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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 +14.1/30.0
• ARV discount +6.3/15.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity for Investors! Buy ONE or buy BOTH! Two homes are for sale, individually, side by side - 607 & 609 Martha Place. Each property is listed for $125,000 each. This home at 609 Martha Place (MLS# 1179016) is currently leased for $900 per month and the home at 607 Martha Place (MLS #1179014) is currently leased for $800 per month! Both homes feature natural gas heat and central air as well public water and sewer. Stove & refrigerator belong to the house. Fireplace not used and condition is unknown.

Key facts

• Large yard
• Separate dining area
• 7,405 sq ft lot

Tags

• SEPARATE DINING AREA
• LARGE YARD
• OVERSIZED STORAGE SPACE

Property features AI

Finance

• Other: Approximately 0.17-acre lot
• HOA & community: No homeowner association

Exterior

• Parking: Driveway
• Utilities: Public sewer; Electric water heater; Natural gas available
• Home design: Residential stick/site-built house; One story; Built in 1948; Existing structure; Living room has a fireplace
• Construction: Vinyl siding; Shingle roof
• Exterior features: Public-maintained road; Public water source; No pool

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: All bedrooms located on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating with natural gas
• Interior features: Primary bedroom on the main level; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $21 ($250/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (20.0% below list).
• Recommended offer: $111k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.0% in High Point — 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 77/100 on livability (#31 in NC, #3,084 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities D, employment D.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 132 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $102k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,152 (20.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.80% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $135,300
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 Model Farm Rd	0.24mi	2/1.0	912 (+10%)	1mo	$149,350	$164	71
1810 Walton St	0.28mi	2/1.0	900 (+9%)	18mo	$153,000	$170	56
335 Nathan Hunt Dr	0.66mi	2/1.0	890 (+8%)	2mo	$150,000	$169	54
2412 Dane St	0.60mi	2/1.0	882 (+7%)	14mo	$177,500	$201	48
411 Player Dr	0.72mi	2/1.0	851 (+3%)	20mo	$137,000	$161	45
417 Player Dr	0.72mi	2/1.0	768 (-7%)	16mo	$110,000	$143	41
307 Player Dr	0.75mi	2/1.0	893 (+8%)	17mo	$84,500	$95	37

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-21,244
• Equity at exit: $20,725

10-year hold

• IRR: -6.8%
• Equity multiple: 0.56×
• Total profit: $-16,981
• Equity at exit: $12,018

Cash invested: $38,920 (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 27263

• Home prices YoY: -26.9%
• Active inventory: 132
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,112 high
• Mortgage (P&I): −$729
• Tax from tax record: −$70 /mo · $845/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $21

Break-even live

Break-even rent $1,085

Max offer price $139,000

Occupancy floor 93%

Sensitivity live

Price	-10% $100	-5% $60	+0% $21	+5% $-19	+10% $-58
Rent	-10% $-67	-5% $-23	+0% $21	+5% $65	+10% $109
Rate	-1.0pp $91	-0.5pp $56	base $21	+0.5pp $-15	+1.0pp $-52

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2452 Bellemeade St High Point, NC	2.0–3.0	2.0	1050	$1,125	$1.07	15d	9	0.46mi
314 Ardale Dr High Point, NC	2.0	2.0–3.0	1000	$1,050	$1.05	24d	3	0.51mi
310 Ardale Dr Unit 1B High Point, NC	2.0	2.0	1000	$1,050	$1.05	24d	1	0.52mi
312 Ardale Dr High Point, NC	2.0	2.5–3.0	1024	$1,050	$1.03	24d	2	0.53mi
304 Ardale Dr Unit 1B High Point, NC	2.0	2.5	1000	$1,050	$1.05	24d	1	0.54mi
525 Weaver Ave Archdale, NC	2.0	1.0	800	$850	$1.06	15d	1	0.77mi
819 Belmont Dr High Point, NC	2.0	2.0	900	$1,350	$1.50	15d	1	0.81mi
1109 Garrison St High Point, NC	2.0	1.0	768	$1,100	$1.43	24d	1	0.83mi
116 E Swathmore Ave High Point, NC	1.0	1.0	845	$1,155	$1.37	15d	3	0.85mi
1506 Hidden Creek Ter High Point, NC	3.0	2.0	1065	$1,395	$1.31	22d	1	0.93mi
900 Brookwood Cir Archdale, NC	3.0	1.0–2.0	688	$1,219	$1.77	15d	14	1.47mi

Listing history 27 events

1. 2026-06-18
   days on market $139,000 Active 34 DOM
2. 2026-06-17
   days on market $139,000 Active 33 DOM
3. 2026-06-16
   days on market $139,000 Active 32 DOM
4. 2026-06-15
   days on market $139,000 Active 31 DOM
5. 2026-06-14
   days on market $139,000 Active 29 DOM
6. 2026-06-10
   days on market $139,000 Active 26 DOM
7. 2026-06-09
   days on market $139,000 Active 25 DOM
8. 2026-06-08
   days on market $139,000 Active 24 DOM
9. 2026-06-07
   days on market $139,000 Active 23 DOM
10. 2026-06-03
    days on market $139,000 Active 19 DOM
11. 2026-06-02
    days on market $139,000 Active 18 DOM
12. 2026-06-01
    days on market $139,000 Active 17 DOM
13. 2026-05-31
    days on market $139,000 Active 16 DOM
14. 2026-05-31
    days on market $139,000 Active 15 DOM
15. 2026-05-20
    status Active
16. 2026-05-13
    status Pending
17. 2026-05-08
    listed $139,000 Active
18. 2026-03-26
    price $143,000
19. 2026-02-22
    price $151,000
20. 2026-01-09
    price $159,000
21. 2025-06-23
    soldstatus $102,500 Closed 525-char remark

    Show marketing remark (525 chars)

    Great Opportunity for Investors! Buy ONE or buy BOTH! Two homes are for sale, individually, side by side - 607 & 609 Martha Place. Each property is listed for $125,000 each. This home at 609 Martha Place (MLS# 1179016) is currently leased for $900 per month and the home at 607 Martha Place (MLS #1179014) is currently leased for $800 per month! Both homes feature natural gas heat and central air as well public water and sewer. Stove & refrigerator belong to the house. Fireplace not used and condition is unknown.

22. 2025-06-23
    soldstatus $102,500

    Show marketing remark (525 chars)

    Great Opportunity for Investors! Buy ONE or buy BOTH! Two homes are for sale, individually, side by side - 607 & 609 Martha Place. Each property is listed for $125,000 each. This home at 609 Martha Place (MLS# 1179016) is currently leased for $900 per month and the home at 607 Martha Place (MLS #1179014) is currently leased for $800 per month! Both homes feature natural gas heat and central air as well public water and sewer. Stove & refrigerator belong to the house. Fireplace not used and condition is unknown.

23. 2025-06-12
    status Pending 525-char remark

    Show marketing remark (525 chars)

    Great Opportunity for Investors! Buy ONE or buy BOTH! Two homes are for sale, individually, side by side - 607 & 609 Martha Place. Each property is listed for $125,000 each. This home at 609 Martha Place (MLS# 1179016) is currently leased for $900 per month and the home at 607 Martha Place (MLS #1179014) is currently leased for $800 per month! Both homes feature natural gas heat and central air as well public water and sewer. Stove & refrigerator belong to the house. Fireplace not used and condition is unknown.

24. 2025-06-11
    historical Due Diligence Period 525-char remark

    Show marketing remark (525 chars)

    Great Opportunity for Investors! Buy ONE or buy BOTH! Two homes are for sale, individually, side by side - 607 & 609 Martha Place. Each property is listed for $125,000 each. This home at 609 Martha Place (MLS# 1179016) is currently leased for $900 per month and the home at 607 Martha Place (MLS #1179014) is currently leased for $800 per month! Both homes feature natural gas heat and central air as well public water and sewer. Stove & refrigerator belong to the house. Fireplace not used and condition is unknown.

25. 2025-05-01
    listed $125,000 Active 525-char remark

    Show marketing remark (525 chars)

    Great Opportunity for Investors! Buy ONE or buy BOTH! Two homes are for sale, individually, side by side - 607 & 609 Martha Place. Each property is listed for $125,000 each. This home at 609 Martha Place (MLS# 1179016) is currently leased for $900 per month and the home at 607 Martha Place (MLS #1179014) is currently leased for $800 per month! Both homes feature natural gas heat and central air as well public water and sewer. Stove & refrigerator belong to the house. Fireplace not used and condition is unknown.

26. 2012-06-14
    soldstatus $26,100
27. 2009-07-16
    listed $43,000

ⓘ 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: $845 · $70/mo
• Projected year-2 tax: $1,140 · $95/mo
• Expected delta: +$295/yr (+$25/mo · 34.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 4/10 Moderate 14% 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: $13,338
• − Mortgage interest: −$7,786
• − Property taxes: −$845
• − Insurance: −$695
• − Repairs & maintenance: −$1,067
• − Management: −$1,067
• − Depreciation: −$4,044
• Taxable loss: −$2,166
• Est. tax savings @ 24.0%: +$520
• After-tax cash flow: $770/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: Guilford County Schools
• NCES district ID: 3701920
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $46,315
• Composite: 35.78/100
• National rank: #4842
• State rank: #99 of 178 in NC

Livability — High Point

• Score: 77/100
• State rank: #31
• US rank: #3084

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: High Point, NC
• County: Randolph County · 81,617 people
• City population: 102,450
• Metro: Greensboro-High Point, NC
• Population (ZIP): 21,446
• Household income: $55,801
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 381.0

Population outlook (Guilford County) Hauer SSP2

• Today (2025): 584,596 people
• By 2030: 616,851 · +5.5%
• By 2040: 678,451 · +16.1%
• By 2050: 734,788 · +25.7%
• By 2075: 862,985 · +47.6%
• By 2100: 948,704 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 14% Hispanic / Latino 10% Asian 8% Two or more races 5%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Italian 4% Serbian 3% Slovak 3%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 8% Other Indo-European 5% Vietnamese 3%

Political lean MEDSL · Guilford

• 2024 margin: Strong D (+21.8) · D 60.2% · R 38.4% · Other 1.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 18.4pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+23.1 2016: D+20.0 2012: D+16.5 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.54%
• Current HPI: 229.4967
• 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

+223.3% since first listed

13 events — show timeline

• 2026-05-20 Relisted — Triad MLS
• 2026-05-13 Pending — Triad MLS
• 2026-05-08 Listed $139,000 Triad MLS
• 2026-03-26 Price Changed $143,000 Triad MLS
• 2026-02-22 Price Changed $151,000 Triad MLS
• 2026-01-09 Price Changed $159,000 Triad MLS
• 2025-06-23 Sold (Public Records) $102,500 Public Records
• 2025-06-23 Sold (MLS) $102,500 Triad MLS
• 2025-06-12 Pending — Triad MLS
• 2025-06-11 Contingent — Triad MLS
• 2025-05-01 Listed $125,000 Triad MLS
• 2012-06-14 Sold (MLS) $26,100 Triad MLS
• 2009-07-16 Listed $43,000 Triad MLS

Property tax history

+1.5%/yr

Latest (2025): $845 · -0.8% YoY. Source: county tax records.