228 Alberta Dr · Franklinton, NC 27525

$252,990

3 bd · 2.5 ba · 1,612 sqft · Townhouse · 104 Days on market

Built 2026 Good condition 1,742 sqft lot Garage $101/mo HOA · 6% of rent ↓ 4% since listing

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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).

• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Cash flow +5.8/30.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.2/10.0

Listing remarks

Discover the sought-after Litchfield floorplan featuring 3 bedrooms, 2.5 baths, and 1 car garage in prime Franklinton location. The spacious family room w/ 9ft ceilings opens to the kitchen large island & w/ quartz countertops upgraded cabinets, SSappliances, electric range, tile backsplash, upgraded plumbing, eat in dining, & access to outdoor patio, yard & storage. Large primary suite w/ walk in closet, sitting area, bathroom w upgraded cabinets/dual vanity, quartz countertops & walk in tile shower. LVP flooring throughout the main living area, all baths & laundry. Bath 2 w/ dual vanity with quartz countertops and upgraded cabients.

Key facts

• Litchfield floorplan
• Quartz countertops
• Large island

Tags

• LITCHFIELD FLOORPLAN
• SPACIOUS FAMILY ROOM
• LARGE ISLAND
• QUARTZ COUNTERTOPS
• UPGRADED CABINETS
• SS APPLIANCES

🏗️ New construction. The $252,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $267,756.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $253k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-531 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (24.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (28.9% below list).
• Recommended offer: $180k (28.9% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 3.2% in Franklinton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 61/100 on livability (#491 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Franklin County Schools (rural): math 34% / reading 37% proficiency, ranked #128 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklinton Elementary (math 29% / reading 25%, grade F, #1,033 of 1,410 statewide, top 76%, 522 students, 81% FRL); Franklinton Middle (math 26% / reading 27%, grade F, #381 of 475 statewide, top 81%, 247 students, 78% FRL); Franklinton High (math 57% / reading 60%, grade C, #235 of 535 statewide, top 45%, 1,182 students, 48% FRL).
• Market conditions: 386 active listings in the ZIP; 948 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (8.4% local appreciation)).
• Franklin County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($230k) is reasonable based on typical stale-listing flexibility.

Recommended offer $179,859 (28.9% 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 104 days. Have you received any prior offers? Is the seller open to a 29% 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 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. 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?
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: 0.67% ✗
• Cap rate: 3.92%
• Cash-on-cash: -8.49%
• DSCR: 0.62
• GRM: 12.4

CMA / ARV

• ARV (median comp): $267,756
• List price: $252,990
• Delta: -5.51%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 Alberta Dr	0.00mi	3/2.5	1,603 (-1%)	1mo	$261,550	$163	98
216 Alberta Dr	0.01mi	3/2.5	1,603 (-1%)	2mo	$270,940	$169	97
223 Alberta Dr #201	0.00mi	3/2.5	1,586 (-2%)	0mo	$240,000	$151	97
225 Alberta Dr #200	0.00mi	3/2.5	1,578 (-2%)	1mo	$245,990	$156	95
230 Alberta Dr	0.00mi	3/2.5	1,573 (-2%)	2mo	$268,000	$170	94
205 Carnaby Ln	0.04mi	3/2.5	1,573 (-2%)	1mo	$259,270	$165	93
201 Carnaby Ln #130	0.05mi	3/2.5	1,573 (-2%)	1mo	$272,250	$173	93
247 Blandford St	0.09mi	3/2.5	1,682 (+4%)	1mo	$265,000	$158	88
207 Carnaby Ln	0.23mi	3/2.5	1,573 (-2%)	2mo	$268,000	$170	84
113 Blandford St	0.04mi	3/2.5	1,561 (-3%)	11mo	$269,900	$173	83
251 Blandford St	0.10mi	3/2.5	1,696 (+5%)	10mo	$255,000	$150	78

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

Projected returns pro-forma

8.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 2.12×
• Total profit: $83,859
• Equity at exit: $211,143

10-year hold

• IRR: 14.5%
• Equity multiple: 4.59×
• Total profit: $269,068
• Equity at exit: $426,705

Cash invested: $74,972 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 13 under contract
• Months of supply: 7.3 mo (14%/mo absorbed)
• Median asking: $245,830 ($155/sqft)
• Median days on market: 100 d
• This list price: 91% of active listings are priced below it
• ARV vs active asking: +6.9% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 27525

• Home prices YoY: 3.0%
• Active inventory: 386
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,799 medium
• Mortgage (P&I): −$1,404
• Tax est. 1.5%: −$335 /mo · $4,016/yr
• Insurance: −$112
• HOA: −$101
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-531

Break-even live

Break-even rent $2,470

Max offer price $190,990

Occupancy floor —

Sensitivity live

Price	-10% $-345	-5% $-438	+0% $-531	+5% $-623	+10% $-716
Rent	-10% $-673	-5% $-602	+0% $-531	+5% $-459	+10% $-388
Rate	-1.0pp $-396	-0.5pp $-462	base $-531	+0.5pp $-600	+1.0pp $-670

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: $66,939
• Closing costs: $8,033
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Property type listed as site-built house in townhouse ownership
• HOA & community: Community association (Pindell-Wilson)Monthly association fee of $101 covering maintenance of groundsCommunity sidewalks

Exterior

• Parking: Attached garage (1 car) with garage door opener and storageDriveway parking2 open parking spaces (total parking listed as 2)
• Utilities: Public waterPublic sewer
• Home design: Townhouse with two levelsNew construction / Under construction2+ common walls
• Construction: Shake siding and vinyl sidingShingle roofSlab foundationBuilt by DRB Homes (Litchfield model)
• Exterior features: Private yardPatioRain gutters

Interior

• Kitchen: DishwasherDisposalGas rangeMicrowavePlumbed for ice makerStainless steel appliances
• Bedrooms: 3 bedrooms
• Flooring: CarpetLuxury vinyl
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Forced air heating (natural gas) with zoned controlsCentral air conditioning (electric) with zoned controls
• Interior features: Open floorplanEntrance foyerEat-in kitchenKitchen islandPantryQuartz countersSmooth ceilingsDouble vanityBathtub/shower combinationSeparate walk-in showerWalk-in closet(s)
• Laundry & utility: Laundry room on upper levelElectric water heaterExhaust fan

HOA detail $101/mo · $1,212/yr

• Likely covers: electric

Listing history 50 events

1. 2026-08-16
   days on market $252,990 Active 104 DOM
2. 2026-08-15
   days on market $252,990 Active 103 DOM
3. 2026-08-13
   days on market $252,990 Active 101 DOM
4. 2026-08-12
   days on market $252,990 Active 100 DOM
5. 2026-08-11
   days on market $252,990 Active 99 DOM
6. 2026-08-10
   days on market $252,990 Active 98 DOM
7. 2026-08-09
   days on market $252,990 Active 97 DOM
8. 2026-08-08
   days on market $252,990 Active 96 DOM
9. 2026-08-07
   days on market $252,990 Active 95 DOM
10. 2026-08-06
    days on market $252,990 Active 94 DOM
11. 2026-08-05
    days on market $252,990 Active 93 DOM
12. 2026-08-04
    days on market $252,990 Active 92 DOM
13. 2026-08-03
    days on market $252,990 Active 91 DOM
14. 2026-07-31
    days on market $252,990 Active 88 DOM
15. 2026-07-30
    days on market $252,990 Active 87 DOM
16. 2026-07-29
    days on market $252,990 Active 86 DOM
17. 2026-07-27
    days on market $252,990 Active 84 DOM
18. 2026-07-25
    days on market $252,990 Active 82 DOM
19. 2026-07-24
    days on market $252,990 Active 81 DOM
20. 2026-07-23
    days on market $252,990 Active 80 DOM
21. 2026-07-22
    days on market $252,990 Active 79 DOM
22. 2026-07-21
    days on market $252,990 Active 78 DOM
23. 2026-07-20
    days on market $252,990 Active 77 DOM
24. 2026-07-18
    days on market $252,990 Active 75 DOM
25. 2026-07-17
    days on market $252,990 Active 73 DOM
26. 2026-07-15
    days on market $252,990 Active 72 DOM
27. 2026-07-14
    days on market $252,990 Active 71 DOM
28. 2026-07-13
    days on market $252,990 Active 70 DOM
29. 2026-07-12
    days on market $252,990 Active 69 DOM
30. 2026-07-12
    days on market $252,990 Active 68 DOM
31. 2026-07-10
    days on market $252,990 Active 67 DOM
32. 2026-07-09
    days on market $252,990 Active 66 DOM
33. 2026-07-08
    days on market $252,990 Active 64 DOM
34. 2026-07-06
    days on market $252,990 Active 63 DOM
35. 2026-07-05
    days on market $252,990 Active 62 DOM
36. 2026-07-05
    days on market $252,990 Active 61 DOM
37. 2026-07-03
    days on market $252,990 Active 60 DOM
38. 2026-07-02
    days on market $252,990 Active 59 DOM
39. 2026-07-01
    days on market $252,990 Active 58 DOM
40. 2026-06-30
    days on market $252,990 Active 57 DOM
41. 2026-06-29
    days on market $252,990 Active 56 DOM
42. 2026-06-28
    days on market $252,990 Active 55 DOM
43. 2026-06-27
    days on market $252,990 Active 54 DOM
44. 2026-06-26
    days on market $252,990 Active 53 DOM
45. 2026-06-22
    days on market $252,990 Active 49 DOM
46. 2026-06-21
    days on market $252,990 Active 48 DOM
47. 2026-06-21
    days on market $252,990 Active 47 DOM
48. 2026-06-18
    days on market $252,990 Active 45 DOM
49. 2026-06-17
    days on market $252,990 Active 44 DOM
50. 2026-06-17
    price $252,990 Active 43 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,583
• − Mortgage interest: −$14,998
• − Property taxes: −$4,016
• − Insurance: −$1,339
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − HOA: −$1,212
• − Depreciation: −$7,789
• Taxable loss: −$11,225
• Est. tax savings @ 24.0%: +$2,694
• After-tax cash flow: $-3,672/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This townhouse is in excellent condition with modern finishes and a prime location. Minor updates to the exterior and curb appeal could further enhance its value.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal ↑
• Resale Replace outdoor lighting — Improves curb appeal ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

F Composite school gradezoned avg 37/100

Zoned Schools

Elementary Franklinton Elementary F NC #1,033/1,410 Nat'l #28,475/41,679 Middle Franklinton Middle F NC #381/475 Nat'l #9,979/14,009 High Franklinton High C NC #235/535 Nat'l #3,934/17,239

Schools (NCES district)

• District: Franklin County Schools
• NCES district ID: 3701530
• Math proficiency: 34% ▬ 0.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $44,630
• Composite: 30.25/100
• National rank: #6286
• State rank: #128 of 178 in NC

C Composite livability gradescore 61/100

Livability — Franklinton

• Score: 61/100
• State rank: #491
• US rank: #18002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklinton, NC
• County: Franklin County · 69,848 people
• City population: 17,110
• Metro: Raleigh-Cary, NC
• Population (ZIP): 17,110
• Household income: $73,036
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 13% of renters

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Population outlook (Franklin County) Hauer SSP2

• Today (2025): 69,848 people
• By 2030: 72,480 · +3.8%
• By 2040: 76,682 · +9.8%
• By 2050: 78,993 · +13.1%
• By 2075: 82,888 · +18.7%
• By 2100: 80,784 · +15.7%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 24% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Cuban 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1%

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Political lean MEDSL · Franklin

• 2024 margin: R (+13.6) · D 42.7% · R 56.3%
• 2008→2024 swing: -12.9pp toward R · 2008: -0.7pp · 2024: -13.6pp
• All cycles: 2024: R+13.6 2020: R+13.4 2016: R+11.7 2012: R+4.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.42%
• Current HPI: 294.1531
• Rent YoY: —
• Metro: Raleigh-Cary, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

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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

Property features AI

Finance

• Other: Property type listed as site-built house in townhouse ownership
• HOA & community: Community association (Pindell-Wilson)Monthly association fee of $101 covering maintenance of groundsCommunity sidewalks

Exterior

• Parking: Attached garage (1 car) with garage door opener and storageDriveway parking2 open parking spaces (total parking listed as 2)
• Utilities: Public waterPublic sewer
• Home design: Townhouse with two levelsNew construction / Under construction2+ common walls
• Construction: Shake siding and vinyl sidingShingle roofSlab foundationBuilt by DRB Homes (Litchfield model)
• Exterior features: Private yardPatioRain gutters

Interior

• Kitchen: DishwasherDisposalGas rangeMicrowavePlumbed for ice makerStainless steel appliances
• Bedrooms: 3 bedrooms
• Flooring: CarpetLuxury vinyl
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Forced air heating (natural gas) with zoned controlsCentral air conditioning (electric) with zoned controls
• Interior features: Open floorplanEntrance foyerEat-in kitchenKitchen islandPantryQuartz countersSmooth ceilingsDouble vanityBathtub/shower combinationSeparate walk-in showerWalk-in closet(s)
• Laundry & utility: Laundry room on upper levelElectric water heaterExhaust fan

Price history

-3.6% since first listed

2 events — show timeline

• 2026-06-16 Price Changed $252,990 TMLS
• 2026-05-04 Listed $262,455 TMLS