325 Ranch Farm Rd Unit A - B · Garner, NC 27603

$245,000

3 bd · 2.0 ba · 1,312 sqft · Condo · 189 Days on market

Built 1957 ↓ 2% 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).

• Cash flow +11.9/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BACK ON MARKET DUE TO DELAY IN BUYER FINANCING . .. RALEIGH DUPLEX OPPORTUNITY_ LISTED BELOW TAX VALUE!! NO HOA - NO DUES - NO COVENANTS - NO DEED RESTRICTIONS! A NEW Survey Has Been Completed By The Sellers PLUS a Brand NEW Permitted Drilled Well, NEW Pump, NEW Service Lines. All Thats Left Is For You To Claim This Duplex As Its New Owner! Live in One Unit and Lease Out The Other For Passive Extra Income, Add It To Your Investment Portfolio and Lease Out Both Units, Or Get Creative and Combine To Create A Single Family Home. You Cannot Go Wrong With This Location Whatever You Decide To Do! ONLY 5 To 6 Minutes To Downtown Raleigh, 20 Minutes To RDU, Less Than 1 Mile From US-70 and

Key facts

• New pump
• Large covered porch
• New service lines

Tags

• NEW PERMITTED DRILLED WELL
• NEW PUMP
• NEW SERVICE LINES
• LARGE OPEN DECK
• LARGE COVERED PORCH
• BEAUTIFUL HARDWOOD FLOORING

Property features AI

Finance

• Other: Unit numbers A and B; Living area approximately 1,312 above grade; Lot about 0.34 acres (see survey for dimensions); Accessible features throughout including accessible bedroom, central living area, common areas, full bath, kitchen, kitchen appliances, and washer/dryer
• Financial info: No homeowner association fees
• HOA & community: No association; No community amenities

Exterior

• Parking: Open parking with 4 spaces; Driveway and shared driveway access; Off-street, on-site, outside, unassigned parking (varies by unit); Private parking available
• Security: No specific security features listed
• Utilities: Private well water (well); Septic tank; Water connected; Septic connected; Electricity available and connected; Cable available and connected; Phone available
• Home design: Duplex (site-built); One level; Entry level: 1; Property faces north; Updated/remodeled condition; Common wall: one shared wall (no one above or below)
• Construction: Foundation: block, brick/mortar, permanent; Roof: architectural shingle / asphalt shingle; Construction materials: unknown; Structure type: duplex
• Exterior features: Covered porch and front porch; Deck; Private yard; Chain link and split rail fencing around front and back yard (partial); Cleared and grassed lot with partial woods

Interior

• Kitchen: Electric oven; Electric range; Range; Self-cleaning oven; Warming drawer; Refrigerator
• Bedrooms: Three bedrooms (all on main level)
• Flooring: Combination of hardwood, linoleum, luxury vinyl, tile, and painted/stained surfaces; Flooring varies by unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Multiple heating types including baseboard, central, electric, forced air, gas pack and radiant (varies by unit); Central air plus ceiling fans; Dual systems and wall/window units available (varies by unit); Separate meters (varies by unit)
• Interior features: Apartment/suite layout with open floorplan; Eat-in kitchen; Bathtub/shower combination; Ceiling fan(s); High-speed internet available; Natural woodwork; Storage
• Laundry & utility: Washer; Dryer; Washer/dryer stacked; In-unit laundry plus common-area laundry options; Laundry closet and laundry room (main level and multiple locations)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $-62 ($-748/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (15.7% below list).
• Recommended offer: $206k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.3% in Garner — 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 76/100 on livability (#35 in NC, #3,421 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, cost of living A-; Watch: amenities D, crime F.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Garner Middle (math 29% / reading 38%, grade F, #299 of 475 statewide, top 64%, 975 students, 57% FRL); Garner High (math 32% / reading 56%, grade F, #367 of 535 statewide, top 69%, 1,683 students, 50% FRL) — zoned schools average 53% FRL vs 30% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 56% district-wide (-17 pts) — the specific schools serving this property underperform the Wake County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.6%/yr); 490 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 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 $7k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $206,431 (15.7% 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 189 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.84% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.59% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.32×
• Total profit: $-46,528
• Equity at exit: $36,530

10-year hold

• IRR: -15.7%
• Equity multiple: 0.17×
• Total profit: $-57,021
• Equity at exit: $21,183

Cash invested: $68,600 (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 27603

• Rents YoY: 1.6%
• Active inventory: 490
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,064 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $-62

Break-even live

Break-even rent $2,143

Max offer price $235,980

Occupancy floor 98%

Sensitivity live

Price	-10% $107	-5% $22	+0% $-62	+5% $-147	+10% $-232
Rent	-10% $-225	-5% $-144	+0% $-62	+5% $19	+10% $101
Rate	-1.0pp $61	-0.5pp $0	base $-62	+0.5pp $-126	+1.0pp $-190

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Spring Dr Garner, NC	1.0–2.0	1.0–1.5	850	$1,475	$1.74	24d	1	0.66mi
1301 Pinewinds Dr Raleigh, NC	1.0–3.0	1.0–2.0	1077	$1,662	$1.54	2d	16	0.71mi
1517 Wiljohn Rd Garner, NC	3.0	2.0	1688	$3,000	$1.78	24d	1	0.73mi
617 Springview Trl Garner, NC	3.0	2.5	1489	$2,180	$1.46	24d	1	1.00mi
1700 Connery Ct Garner, NC	1.0–3.0	1.0–2.0	1072	$2,120	$1.98	2d	32	1.01mi
1100 Lenoxplace Cir Raleigh, NC	1.0–3.0	1.0–2.0	1005	$1,467	$1.46	3d	18	1.29mi
415 Aversboro Rd Garner, NC	4.0	2.5	1728	$1,950	$1.13	24d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $245,000 Active 189 DOM
2. 2026-06-17
   days on market $245,000 Active 188 DOM
3. 2026-06-16
   days on market $245,000 Active 187 DOM
4. 2026-06-15
   days on market $245,000 Active 186 DOM
5. 2026-06-13
   days on market $245,000 Active 184 DOM
6. 2026-06-13
   days on market $245,000 Active 183 DOM
7. 2026-06-09
   days on market $245,000 Active 180 DOM
8. 2026-06-08
   days on market $245,000 Active 179 DOM
9. 2026-06-07
   days on market $245,000 Active 178 DOM
10. 2026-06-05
    days on market $245,000 Active 175 DOM
11. 2026-06-03
    days on market $245,000 Active 174 DOM
12. 2026-06-02
    days on market $245,000 Active 173 DOM
13. 2026-06-01
    days on market $245,000 Active 172 DOM
14. 2026-05-31
    days on market $245,000 Active 171 DOM
15. 2026-04-21
    status Active
16. 2026-04-19
    status Pending
17. 2026-04-18
    status Active
18. 2026-03-04
    status Pending
19. 2025-10-24
    listed $245,000 Active
20. 2025-09-29
    price $245,000
21. 2025-09-05
    status Active
22. 2025-07-11
    status Pending
23. 2025-07-11
    historical
24. 2025-05-07
    price $255,000
25. 2025-02-11
    price $265,000
26. 2024-11-25
    price $269,900
27. 2024-11-09
    listed $274,000 Active
28. 2024-07-01
    historical Active Under Contract
29. 2024-07-01
    status Active
30. 2024-04-03
    historical Active Under Contract
31. 2024-04-02
    historical
32. 2023-12-27
    listed $249,950 Active

ⓘ 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: $24,772
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,982
• − Management: −$1,982
• − Depreciation: −$7,127
• Taxable loss: −$4,943
• Est. tax savings @ 24.0%: +$1,186
• After-tax cash flow: $438/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: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Garner

• Score: 76/100
• State rank: #35
• US rank: #3421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wake County · 1,216,256 people
• City population: 55,242
• Metro: Raleigh-Cary, NC
• Population (ZIP): 53,972
• Household income: $90,484
• Rent vs Own: 38.6% rent · 61.4% own
• Severe rent burden: 1914.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Black 17% Hispanic / Latino 14% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Spanish 10% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -132.00%
• Current HPI: 243.2963
• Rent YoY: ▲ 1.59%
• Metro: Raleigh-Cary, 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

-2.0% since first listed

18 events — show timeline

• 2026-04-21 Relisted — TMLS
• 2026-04-19 Pending — TMLS
• 2026-04-18 Relisted — TMLS
• 2026-03-04 Pending — TMLS
• 2025-10-24 Listed $245,000 TMLS
• 2025-09-29 Price Changed $245,000 TMLS
• 2025-09-05 Relisted — TMLS
• 2025-07-11 Pending — TMLS
• 2025-07-11 Listing Removed — TMLS
• 2025-05-07 Price Changed $255,000 TMLS
• 2025-02-11 Price Changed $265,000 TMLS
• 2024-11-25 Price Changed $269,900 TMLS
• 2024-11-09 Listed $274,000 TMLS
• 2024-07-01 Contingent — TMLS
• 2024-07-01 Relisted — TMLS
• 2024-04-03 Contingent — TMLS
• 2024-04-02 Listing Removed — TMLS
• 2023-12-27 Listed $249,950 TMLS