318 W Franklin St · Warrenton, NC 27589

$179,000

3 bd · 2.0 ba · 1,596 sqft · SingleFamily public records · 79 Days on market

Built 1937 Est $211k · 15% under

---

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).

• ARV discount +14.3/15.0
• Appreciation +9.8/10.0
• Cash flow +6.7/30.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• 1% rule +0.9/10.0
• DSCR +0.9/10.0

Listing remarks MLS

Charrming well maintained older home with updates. Offering two adjoining dining rooms and other unique features. All appliances and furnshings remain. Some age related repairs likely needed. Price reduced for quick sale.

Key facts

• Metal roof
• Spacious backyard
• 2 parking spots

Tags

• ORIGINAL HARDWOOD FLOORS
• UNIQUE ARCHITECTURAL DETAILS
• WELCOMING FRONT PORCH
• SPACIOUS BACKYARD
• FULL DIRT FLOOR BASEMENT
• METAL ROOF

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Driveway with gravel surface; 2 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Site-built house; One and one-half levels
• Construction: Stone and vinyl siding exterior; Stone foundation; Metal roof; Built in (year not provided)
• Exterior features: Front porch; Private yard; Storage

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 4 bedrooms total; 1 bedroom on the main level
• Flooring: Carpet; Hardwood; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric heating; Wall furnace; Fireplace heating; Central air conditioning
• Interior features: Bathtub/shower combination; Built-in features; Ceiling fans; Dressing room; High ceilings; Laminate counters
• Laundry & utility: Main-level laundry room; Basement with interior entry and walk-out access (dirt floor, full)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (28.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (41.2% below list).
• Recommended offer: $105k (41.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#250 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A; Watch: housing D+, employment D, amenities F.
• Warren County Schools (rural): math 11% / reading 25% proficiency, ranked #174 of 178 in NC (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mariam Boyd Elementary (math 2% / reading 8%, grade F, #1,405 of 1,410 statewide, top 100%, 341 students, 99% FRL); Warren County High (math 15% / reading 27%, grade F, #488 of 535 statewide, top 91%, 384 students, 99% FRL) — zoned schools average 99% FRL vs 79% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 255 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (9.6% local appreciation)).
• Warren County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $90k; list at $179k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 43% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,233 (41.2% 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 79 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.59% ✗
• Cap rate: 4.36%
• Cash-on-cash: -6.89%
• DSCR: 0.69
• GRM: 14.2

CMA / ARV

• ARV (on-the-fly): $210,672
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
225 Brehon St	0.35mi	3/2.0	1,591 (-0%)	15mo	$195,000	$123	71
122 Ridgecrest Dr	0.67mi	4/2.5 (+1)	1,610 (+1%)	2mo	$249,690	$155	59
216 Bragg St	0.46mi	2/2.5 (-1)	1,664 (+4%)	16mo	$219,900	$132	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 2.49×
• Total profit: $74,745
• Equity at exit: $156,617

10-year hold

• IRR: 17.3%
• Equity multiple: 5.66×
• Total profit: $233,317
• Equity at exit: $332,932

Cash invested: $50,120 (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 27589

• Home prices YoY: 3.3%
• Active inventory: 54
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$106 /mo · $1,269/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $-288

Break-even live

Break-even rent $1,417

Max offer price $128,172

Occupancy floor —

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
136 Dowtin St Warrenton, NC	2.0	1.0	1440	$855	$0.59	19d	1	0.60mi
136 Dowtin St Unit 1 Warrenton, NC	2.0	1.0	1440	$1,250	$0.87	23d	1	0.60mi

Listing history 10 events

1. 2026-06-01
   status $179,000 Pending 79 DOM
2. 2026-05-31
   days on market $179,000 Active 79 DOM
3. 2026-04-24
   price $179,000
4. 2026-03-13
   listed $187,000 Active
5. 2021-11-16
   soldstatus $90,000 221-char remark

   Show marketing remark (221 chars)

   Charrming well maintained older home with updates. Offering two adjoining dining rooms and other unique features. All appliances and furnshings remain. Some age related repairs likely needed. Price reduced for quick sale.

6. 2021-11-16
   soldstatus $90,000 221-char remark

   Show marketing remark (221 chars)

   Charrming well maintained older home with updates. Offering two adjoining dining rooms and other unique features. All appliances and furnshings remain. Some age related repairs likely needed. Price reduced for quick sale.

7. 2021-11-16
   soldstatus $90,000

   Show marketing remark (221 chars)

   Charrming well maintained older home with updates. Offering two adjoining dining rooms and other unique features. All appliances and furnshings remain. Some age related repairs likely needed. Price reduced for quick sale.

8. 2021-06-18
   listed $105,000 221-char remark

   Show marketing remark (221 chars)

   Charrming well maintained older home with updates. Offering two adjoining dining rooms and other unique features. All appliances and furnshings remain. Some age related repairs likely needed. Price reduced for quick sale.

9. 2021-06-18
   listed $105,000 221-char remark

   Show marketing remark (221 chars)

   Charrming well maintained older home with updates. Offering two adjoining dining rooms and other unique features. All appliances and furnshings remain. Some age related repairs likely needed. Price reduced for quick sale.

10. 1990-04-16
    soldstatus $41,500

ⓘ 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: $1,269 · $106/mo
• Projected year-2 tax: $1,468 · $122/mo
• Expected delta: +$198/yr (+$17/mo · 15.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 43% 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: $12,628
• − Mortgage interest: −$10,027
• − Property taxes: −$1,269
• − Insurance: −$895
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$5,207
• Taxable loss: −$6,791
• Est. tax savings @ 24.0%: +$1,630
• After-tax cash flow: $-1,823/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: Warren County Schools
• NCES district ID: 3704740
• Math proficiency: 11% ▼ -12.00%
• Reading proficiency: 25% ▼ -3.00%
• Median HH income: $33,433
• Composite: 14.62/100
• National rank: #9409
• State rank: #174 of 178 in NC

Livability — Warrenton

• Score: 67/100
• State rank: #250
• US rank: #11101

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warrenton, NC
• Population (ZIP): 6,763

Population outlook (Warren County) Hauer SSP2

• Today (2025): 18,664 people
• By 2030: 17,641 · -5.5%
• By 2040: 15,442 · -17.3%
• By 2050: 13,634 · -27.0%
• By 2075: 10,523 · -43.6%
• By 2100: 7,777 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 51% White 27% Two or more races 8% Hispanic / Latino 8% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Warren

• 2024 margin: D (+19.0) · D 58.8% · R 39.8% · Other 1.4%
• 2008→2024 swing: -20.5pp toward R · 2008: 39.5pp · 2024: 19.0pp
• All cycles: 2024: D+19.0 2020: D+25.7 2016: D+33.2 2012: D+36.0 2008: D+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.64%
• Current HPI: 303.9918
• 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

+331.3% since first listed

8 events — show timeline

• 2026-04-24 Price Changed $179,000 TMLS
• 2026-03-13 Listed $187,000 TMLS
• 2021-11-16 Sold (Public Records) $90,000 Public Records
• 2021-11-16 Sold (MLS) $90,000 AMLSNC
• 2021-11-16 Sold (MLS) $90,000 TMLS
• 2021-06-18 Listed $105,000 AMLSNC
• 2021-06-18 Listed $105,000 TMLS
• 1990-04-16 Sold (Public Records) $41,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,269 · +35.2% YoY. Source: county tax records.