347 Foster St · Burlington, NC 27217

$129,900

2 bd · 2.0 ba · 878 sqft · SingleFamily public records · 16 Days on market

Built 1940 10,410 sqft lot Est $175k · 26% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.8/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GOOD RENTAL OR INVESTMENT PROPERTY. SOLD AS IS. NO SELLER PROPERTY DISCLOSURE OR SURVEY. MOTIVATED SELLER. SELLER WILL CONSIDER ALL REASONABLE CASH OFFERS PRESENTED. PLEASE VERIFY SCHOOL ASSIGNMENTS.

Key facts

• 0.24 acre lot
• Built 1940
• Listed 15 days

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Water heater: Unknown
• Home design: Residential stick/site-built house; One story; Built in 1940; Existing structure
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: City lot; Lot is approximately 0.239 acres with dimensions 61 x 174 x 59 x 172; Public-maintained road

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Cooling: Other; Heating: See remarks; Heating fuel: See remarks
• Interior features: Primary bedroom on the main level; 6 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/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 $128k (1.6% below list).
• Recommended offer: $128k (1.6% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.6% in Burlington — 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 70/100 on livability (#123 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, crime F, amenities F.
• Alamance-Burlington Schools (rural): math 30% / reading 40% proficiency, ranked #133 of 178 in NC (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hillcrest Elementary (math 11% / reading 21%, grade F, #1,313 of 1,410 statewide, top 93%, 582 students, 100% FRL); Western Alamance Middle (math 37% / reading 45%, grade F, #209 of 475 statewide, top 45%, 822 students, 49% FRL); Western Alamance High (math 44% / reading 51%, grade D, #331 of 535 statewide, top 62%, 1,036 students, 39% FRL).
• Market conditions: Rents rising (+1.1%/yr); 273 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,466 units permitted in Alamance County in 2024 (403 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Alamance County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $10k; list at $130k implies a 1199% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $127,815 (1.6% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 8.06%
• Cash-on-cash: 6.30%
• DSCR: 1.28
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $174,722
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 Wallace St	0.43mi	2/1.0	900 (+2%)	6mo	$180,000	$200	67
1020 Lakeside Ave	0.48mi	2/1.0	902 (+3%)	4mo	$200,000	$222	66
1118 Jackson St	0.58mi	2/1.0	830 (-6%)	13mo	$165,000	$199	49
159 Hazel Dr	0.35mi	3/1.0 (+1)	1,005 (+14%)	2mo	$235,000	$234	49
905 N Park Rd	0.73mi	2/1.0	824 (-6%)	6mo	$142,000	$172	47
903 N Park Rd	0.72mi	2/1.0	910 (+4%)	15mo	$116,000	$127	44
1116 Rauhut St	0.51mi	3/1.0 (+1)	948 (+8%)	19mo	$214,000	$226	38
1214 Macon St	0.37mi	3/1.0 (+1)	1,004 (+14%)	18mo	$190,000	$189	34
1204 Jackson St	0.50mi	1/1.0 (-1)	765 (-13%)	17mo	$130,000	$170	32

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 · 1.06% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.69×
• Total profit: $-11,355
• Equity at exit: $19,369

10-year hold

• IRR: -1.8%
• Equity multiple: 0.89×
• Total profit: $-3,995
• Equity at exit: $11,231

Cash invested: $36,372 (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 27217

• Home prices YoY: -22.3%
• Rents YoY: 1.1%
• Active inventory: 273
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,278 high
• Mortgage (P&I): −$681
• Tax from tax record: −$83 /mo · $1,000/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $191

Break-even live

Break-even rent $1,036

Max offer price $129,900

Occupancy floor 80%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Camden St Burlington, NC	2.0	1.0	600	$1,095	$1.82	13d	1	0.59mi
654 Lakeside Ave Unit 654 Burlington, NC	2.0	1.0	830	$1,125	$1.36	13d	1	0.75mi
824 Chandler Ave Burlington, NC	2.0	1.0	750	$1,275	$1.70	13d	1	0.81mi
525 Lakeside Ave Burlington, NC	3.0	1.0	975	$1,300	$1.33	21d	1	0.82mi
1013 Attica St Burlington, NC	2.0	1.0	855	$1,245	$1.46	13d	1	1.12mi
1322 Elm St Burlington, NC	3.0	1.5	848	$1,550	$1.83	13d	1	1.13mi
1331 Elm St Burlington, NC	3.0	1.0	950	$1,475	$1.55	21d	1	1.15mi
306 N Ireland St Unit 306 Burlington, NC	2.0	1.0	807	$1,250	$1.55	21d	1	1.24mi
317 Caswell St Unit 2 Burlington, NC	1.0	1.0	650	$750	$1.15	21d	1	1.24mi
1615 Cadiz St Burlington, NC	2.0	1.0	1100	$1,200	$1.09	21d	1	1.27mi
1055 Baldwin Ridge Rd Burlington, NC	1.0–3.0	1.0–2.0	1025	$1,512	$1.48	13d	19	1.47mi
1128 Ava St Burlington, NC	2.0	1.0	900	$1,200	$1.33	13d	1	1.48mi

Listing history 13 events

1. 2026-06-19
   days on market $129,900 Active 16 DOM
2. 2026-06-18
   days on market $129,900 Active 15 DOM
3. 2026-06-17
   days on market $129,900 Active 14 DOM
4. 2026-06-16
   days on market $129,900 Active 13 DOM
5. 2026-06-15
   days on market $129,900 Active 12 DOM
6. 2026-06-14
   days on market $129,900 Active 10 DOM
7. 2026-06-13
   days on market $129,900 Active 9 DOM
8. 2026-06-10
   days on market $129,900 Active 7 DOM
9. 2026-06-09
   days on market $129,900 Active 6 DOM
10. 2026-06-08
    days on market $129,900 Active 5 DOM
11. 2026-06-07
    days on market $129,900 Active 4 DOM
12. 2026-06-05
    remarks 149-char remark
13. 2026-06-05
    listed $129,900 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: $1,000 · $83/mo
• Projected year-2 tax: $1,065 · $89/mo
• Expected delta: +$65/yr (+$5/mo · 6.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,338
• − Mortgage interest: −$7,276
• − Property taxes: −$1,000
• − Insurance: −$650
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − Depreciation: −$3,779
• Taxable income: $179
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $2,250/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: Alamance-Burlington Schools
• NCES district ID: 3700030
• Math proficiency: 30% ▼ -6.00%
• Reading proficiency: 40% ▲ 2.00%
• Median HH income: $43,359
• Composite: 29.68/100
• National rank: #6460
• State rank: #133 of 178 in NC

Livability — Burlington

• Score: 70/100
• State rank: #123
• US rank: #7396

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burlington, NC
• County: Alamance County · 173,369 people
• City population: 88,508
• Metro: Burlington, NC
• Population (ZIP): 41,406
• Household income: $51,950
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1040.0

Population outlook (Alamance County) Hauer SSP2

• Today (2025): 173,381 people
• By 2030: 180,609 · +4.2%
• By 2040: 194,327 · +12.1%
• By 2050: 206,158 · +18.9%
• By 2075: 235,665 · +35.9%
• By 2100: 258,626 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 38% Black 29% Hispanic / Latino 29% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 1%
• Common ancestry: Serbian 2% Italian 1% Slovak 1%
• Foreign-born: 13% · Canada
• Languages at home: 75% English-only · Spanish 24%

Political lean MEDSL · Alamance

• 2024 margin: Lean R (+8.2) · D 45.4% · R 53.5% · Other 1.1%
• 2008→2024 swing: +1.1pp toward D · 2008: -9.2pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+8.4 2016: R+12.9 2012: R+14.1 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.45%
• Current HPI: 259.8107
• Rent YoY: ▲ 1.06%
• Metro: Burlington, 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

+293.6% since first listed

10 events — show timeline

• 2026-06-03 Listed $129,900 Triad MLS
• 2006-11-10 Sold (MLS) $10,000 AMLSNC
• 2006-11-10 Sold (MLS) $10,000 TMLS
• 2006-08-21 Listed $13,900 AMLSNC
• 2006-08-21 Listed $13,900 TMLS
• 2006-03-28 Listing Removed — TMLS
• 2006-03-28 Listing Removed — TMLS
• 2005-12-07 Listed $29,900 TMLS
• 2005-10-17 Listed $27,900 TMLS
• 2005-08-19 Sold (Public Records) $33,000 Public Records

Property tax history

+19.5%/yr

Latest (2025): $1,000 · +2.6% YoY. Source: county tax records.