355 Foster St · Burlington, NC 27217

$124,900

2 bd · 1.0 ba · 648 sqft · SingleFamily public records · 16 Days on market

Built 1940 8,886 sqft lot Est $174k · 28% 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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +4.6/10.0
• 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

Home is currently rented for $950/month (Lease expires 3/31/2027) so Buyers will need a LOI/POF to schedule a showing and plenty of advance notice.

Key facts

• 8,886 sq ft lot
• Built 1940
• Listed 15 days

Property features AI

Finance

• Financial info: Annual tax amount listed
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Water heater: Unknown; Roads maintained by public authority
• Home design: Residential stick/site built house; One story; Built in 1940; Existing structure
• Construction: Vinyl siding; No fireplaces
• Exterior features: City lot; Lot dimensions approximately 52 x 72 x 51 x 171

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Primary on main
• Bathrooms: 1 full bathroom
• Heating & cooling: Cooling: Other; Heating: See remarks
• Interior features: Primary bedroom located on the main level; Crawl space basement
• Laundry & utility: Laundry room on main level

🏷️ Possibly a rental listed for sale. The $124,900 price doesn't fit this home's estimated sale value (~$173,664) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $199 ($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 $120k (3.6% below list).
• Recommended offer: $120k (3.6% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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+, schools F, crime 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.
• Market conditions: Rents rising (+1.1%/yr); 273 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 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 $864 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 ($123k) is reasonable based on typical stale-listing flexibility.
• 2 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.

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 $120,455 (3.6% 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: 0.96% ✗
• Cap rate: 8.20%
• Cash-on-cash: 6.82%
• DSCR: 1.30
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $173,664
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 Avondale Dr	0.48mi	1/1.0 (-1)	580 (-10%)	8mo	$80,000	$138	49
1210 Shaw St	0.63mi	2/1.0	727 (+12%)	13mo	$195,000	$268	39

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: -7.8%
• Equity multiple: 0.72×
• Total profit: $-9,932
• Equity at exit: $18,623

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-1,649
• Equity at exit: $10,799

Cash invested: $34,972 (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 →

ZIP-level market 27217

• Home prices YoY: -22.3%
• Rents YoY: 1.1%
• Active inventory: 273
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$46 /mo · $549/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $199

Break-even live

Break-even rent $953

Max offer price $124,900

Occupancy floor 78%

Sensitivity live

Price	-10% $270	-5% $234	+0% $199	+5% $163	+10% $128
Rent	-10% $104	-5% $151	+0% $199	+5% $246	+10% $294
Rate	-1.0pp $262	-0.5pp $231	base $199	+0.5pp $166	+1.0pp $134

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Camden St Burlington, NC	2.0	1.0	600	$1,095	$1.82	14d	1	0.59mi
824 Chandler Ave Burlington, NC	2.0	1.0	750	$1,275	$1.70	14d	1	0.81mi
317 Caswell St Unit 2 Burlington, NC	1.0	1.0	650	$750	$1.15	21d	1	1.24mi
1055 Baldwin Ridge Rd Burlington, NC	1.0–3.0	1.0–2.0	1025	$1,512	$1.48	14d	19	1.47mi

Listing history 13 events

1. 2026-06-19
   days on market $124,900 Active 16 DOM
2. 2026-06-18
   days on market $124,900 Active 15 DOM
3. 2026-06-17
   days on market $124,900 Active 14 DOM
4. 2026-06-16
   days on market $124,900 Active 13 DOM
5. 2026-06-15
   days on market $124,900 Active 12 DOM
6. 2026-06-14
   days on market $124,900 Active 10 DOM
7. 2026-06-13
   days on market $124,900 Active 9 DOM
8. 2026-06-10
   days on market $124,900 Active 7 DOM
9. 2026-06-09
   days on market $124,900 Active 6 DOM
10. 2026-06-08
    days on market $124,900 Active 5 DOM
11. 2026-06-07
    days on market $124,900 Active 4 DOM
12. 2026-06-05
    remarks 147-char remark
13. 2026-06-05
    listed $124,900 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: $549 · $46/mo
• Projected year-2 tax: $1,024 · $85/mo
• Expected delta: +$475/yr (+$40/mo · 86.6%)

ⓘ 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: $14,455
• − Mortgage interest: −$6,996
• − Property taxes: −$549
• − Insurance: −$624
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$3,633
• Taxable income: $339
• Est. tax owed @ 24.0%: −$81
• After-tax cash flow: $2,305/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

+152.3% since first listed

4 events — show timeline

• 2026-06-03 Listed $124,900 Triad MLS
• 2007-10-11 Sold (Public Records) $125,500 Public Records
• 2006-03-23 Listing Removed — TMLS
• 2005-09-23 Listed $49,500 TMLS

Property tax history

+12.5%/yr

Latest (2025): $549 · +2.6% YoY. Source: county tax records.