629 North Ave · Burlington, NC 27217

$205,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 53 Days on market

Built 1910 6,970 sqft lot Est $167k · 23% over

---

Why this score? — see what drove the F 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 +7.0/30.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• 1% rule +0.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Neat Bungalow style home has living room, large den or dining room, 2 bedrooms and rear heated enclosed porch with closet. Large laundry room off rear porch with shelving; washer & dryer remain. Electric range & refrigerator in kitchen remain; kitchen ceiling less than 8 ft in height. Bath has tub/shower combo. single carport; vinyl siding & some replacements.

Key facts

• New plumbing
• Completely remodeled
• New hvac

Tags

• COMPLETELY REMODELED
• NEW HVAC
• NEW PLUMBING
• NEW APPLIANCES
• NEW CABINETS
• NEW FLOORING

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Detached carport; Carport with 2 spaces
• Utilities: Public water; Public sewer; Public power
• Home design: Single-story house; Main-level entry; Updated/remodeled condition
• Construction: Vinyl siding; Brick/mortar foundation; Metal roof; Built as a house
• Exterior features: Front porch; Lot approximately 0.16 acre; City street frontage; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Free-standing electric range; Refrigerator; Granite counters; Eat-in kitchen
• Bedrooms: 4 bedrooms (all on the main level)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (forced air, heat pump); Central air; Heat pump; Ceiling fan(s)
• Interior features: Bathtub/shower combination; Eat-in kitchen; Granite counters; High-speed internet; Kitchen/dining room combination; Open floorplan; Double-pane windows; Storm windows
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup; Washer/Dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-300 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (25.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (41.8% below list).
• Recommended offer: $119k (41.8% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.6% in Burlington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Hugh M Cummings High (math 17% / reading 32%, grade F, #474 of 535 statewide, top 90%, 981 students, 80% FRL) — zoned schools average 80% FRL vs 51% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 273 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1k of loan paydown is wiped out by about $6k 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 53 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $28k; list at $205k implies a 632% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,272 (41.8% 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 53 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.58% ✗
• Cap rate: 4.54%
• Cash-on-cash: -6.27%
• DSCR: 0.72
• GRM: 14.3

CMA / ARV

• ARV (on-the-fly): $167,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1028 Queen Ann St	0.41mi	2/1.0	952 (-1%)	1mo	$105,000	$110	79
506 Piedmont Way	0.20mi	3/1.0 (+1)	1,033 (+8%)	1mo	$159,999	$155	72
213 Columbia Ave	0.39mi	2/2.0	963 (+0%)	6mo	$200,000	$208	72
1605 Hanover Rd	0.47mi	2/1.0	990 (+3%)	6mo	$138,000	$139	67
1719 Piedmont Way	0.42mi	2/1.0	1,005 (+5%)	8mo	$175,000	$174	66
625 Columbia Ave Ave	0.21mi	2/1.0	1,092 (+14%)	2mo	$177,000	$162	65
520 Delaware Ave	0.18mi	2/2.0	860 (-10%)	6mo	$200,000	$233	65
525 Texas Ave	0.27mi	2/1.0	840 (-12%)	3mo	$156,000	$186	64
505 Brookline Dr	0.36mi	2/1.0	864 (-10%)	5mo	$135,000	$156	62
609 Phillips St	0.60mi	2/1.0	844 (-12%)	8mo	$95,000	$113	46
804 Harris St	0.71mi	3/1.0 (+1)	1,087 (+13%)	4mo	$235,000	$216	37
1215 Cleveland Ave	0.72mi	3/1.5 (+1)	1,090 (+14%)	3mo	$195,000	$179	34

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: -29.0%
• Equity multiple: 0.05×
• Total profit: $-54,681
• Equity at exit: $30,566

10-year hold

• IRR: -37.5%
• Equity multiple: -0.42×
• Total profit: $-81,572
• Equity at exit: $17,725

Cash invested: $57,400 (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: 14.3×

Monthly cashflow live

• Estimated rent: $1,193 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$81 /mo · $978/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $-300

Break-even live

Break-even rent $1,572

Max offer price $152,056

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
709 Maryland Ave Burlington, NC	2.0	1.0	786	$1,225	$1.56	21d	1	0.31mi
1016 Grace Ave Burlington, NC	3.0	1.0	994	$1,245	$1.25	21d	1	0.53mi
411 S Saint John St Burlington, NC	1.0	1.0	700	$1,100	$1.57	21d	1	0.55mi
916 Harris St Burlington, NC	1.0	1.0	601	$895	$1.49	21d	1	0.57mi
1016 Washington St Unit A Burlington, NC	1.0	1.0	650	$775	$1.19	21d	1	0.63mi
910 N Main St Unit A Burlington, NC	2.0	2.0	1100	$1,395	$1.27	13d	1	0.78mi
607 N Main St Unit 609 Burlington, NC	1.0	1.0	568	$850	$1.50	21d	1	0.92mi
1055 Baldwin Ridge Rd Burlington, NC	1.0–3.0	1.0–2.0	1025	$1,512	$1.48	13d	19	0.95mi
516 Maple Ave Unit B Burlington, NC	1.0	1.0	869	$850	$0.98	21d	1	1.06mi
632 New St Graham, NC	2.0	1.0	900	$1,200	$1.33	21d	1	1.07mi
212 College St Apt G Graham, NC	2.0	1.5	1050	$1,125	$1.07	21d	1	1.14mi
1900 Morningside Dr Burlington, NC	1.0–3.0	1.0–2.0	1076	$1,262	$1.17	13d	1	1.15mi
511 Poplar St Unit C Graham, NC	2.0	1.0	900	$1,195	$1.33	21d	1	1.17mi
306 N Ireland St Unit 306 Burlington, NC	2.0	1.0	807	$1,250	$1.55	21d	1	1.18mi
805 S Broad St Burlington, NC	2.0	1.0	779	$1,100	$1.41	21d	1	1.41mi
321 E 5th St Burlington, NC	1.0	1.0	700	$850	$1.21	21d	1	1.41mi

Listing history 23 events

1. 2026-06-19
   days on market $205,000 Active 53 DOM
2. 2026-06-18
   days on market $205,000 Active 52 DOM
3. 2026-06-17
   days on market $205,000 Active 51 DOM
4. 2026-06-16
   days on market $205,000 Active 50 DOM
5. 2026-06-15
   days on market $205,000 Active 49 DOM
6. 2026-06-14
   days on market $205,000 Active 47 DOM
7. 2026-06-13
   days on market $205,000 Active 46 DOM
8. 2026-06-10
   days on market $205,000 Active 44 DOM
9. 2026-06-09
   days on market $205,000 Active 43 DOM
10. 2026-06-08
    days on market $205,000 Active 42 DOM
11. 2026-06-07
    days on market $205,000 Active 41 DOM
12. 2026-06-05
    days on market $205,000 Active 38 DOM
13. 2026-06-02
    days on market $205,000 Active 36 DOM
14. 2026-06-01
    days on market $205,000 Active 35 DOM
15. 2026-05-31
    days on market $205,000 Active 34 DOM
16. 2026-05-30
    days on market $205,000 Active 33 DOM
17. 2026-04-27
    listed $205,000 Active
18. 2015-02-11
    soldstatus $28,000 376-char remark

    Show marketing remark (327 chars)

    Neat Bungalow Style Home Has Living Rm, Large Den Or Dining Rm, 2 Bedrooms And Heated Enclosed Porch With Closet. Large Laundry Room; Washer & Dryer Remain. Electric Range & Refrigerator Remain; Kitchen Ceiling Less Than 8Ft. Bath Has Tub/Shower Combo. Single Carport; Vinyl Siding & Some Replacement Windows.

19. 2015-02-11
    soldstatus $28,000 327-char remark

    Show marketing remark (327 chars)

    Neat Bungalow Style Home Has Living Rm, Large Den Or Dining Rm, 2 Bedrooms And Heated Enclosed Porch With Closet. Large Laundry Room; Washer & Dryer Remain. Electric Range & Refrigerator Remain; Kitchen Ceiling Less Than 8Ft. Bath Has Tub/Shower Combo. Single Carport; Vinyl Siding & Some Replacement Windows.

20. 2015-02-11
    soldstatus $28,000 327-char remark

    Show marketing remark (327 chars)

    Neat Bungalow Style Home Has Living Rm, Large Den Or Dining Rm, 2 Bedrooms And Heated Enclosed Porch With Closet. Large Laundry Room; Washer & Dryer Remain. Electric Range & Refrigerator Remain; Kitchen Ceiling Less Than 8Ft. Bath Has Tub/Shower Combo. Single Carport; Vinyl Siding & Some Replacement Windows.

21. 2014-11-01
    listed $35,000 376-char remark

    Show marketing remark (376 chars)

    Neat Bungalow style home has living room, large den or dining room, 2 bedrooms and rear heated enclosed porch with closet. Large laundry room off rear porch with shelving; washer & dryer remain. Electric range & refrigerator in kitchen remain; kitchen ceiling less than 8 ft in height. Bath has tub/shower combo. single carport; vinyl siding & some replacements.

22. 2014-10-27
    listed $35,000 327-char remark

    Show marketing remark (327 chars)

    Neat Bungalow Style Home Has Living Rm, Large Den Or Dining Rm, 2 Bedrooms And Heated Enclosed Porch With Closet. Large Laundry Room; Washer & Dryer Remain. Electric Range & Refrigerator Remain; Kitchen Ceiling Less Than 8Ft. Bath Has Tub/Shower Combo. Single Carport; Vinyl Siding & Some Replacement Windows.

23. 2014-10-27
    listed $35,000 327-char remark

    Show marketing remark (327 chars)

    Neat Bungalow Style Home Has Living Rm, Large Den Or Dining Rm, 2 Bedrooms And Heated Enclosed Porch With Closet. Large Laundry Room; Washer & Dryer Remain. Electric Range & Refrigerator Remain; Kitchen Ceiling Less Than 8Ft. Bath Has Tub/Shower Combo. Single Carport; Vinyl Siding & Some Replacement Windows.

ⓘ 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: $978 · $81/mo
• Projected year-2 tax: $1,681 · $140/mo
• Expected delta: +$703/yr (+$59/mo · 71.9%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% 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: $14,313
• − Mortgage interest: −$11,483
• − Property taxes: −$978
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,145
• − Management: −$1,145
• − Depreciation: −$5,964
• Taxable loss: −$7,427
• Est. tax savings @ 24.0%: +$1,783
• After-tax cash flow: $-1,814/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

+485.7% since first listed

7 events — show timeline

• 2026-04-27 Listed $205,000 TMLS
• 2015-02-11 Sold (MLS) $28,000 TMLS
• 2015-02-11 Sold (MLS) $28,000 AMLSNC
• 2015-02-11 Sold (MLS) $28,000 Triad MLS
• 2014-11-01 Listed $35,000 Triad MLS
• 2014-10-27 Listed $35,000 TMLS
• 2014-10-27 Listed $35,000 AMLSNC

Property tax history

+14.3%/yr

Latest (2025): $978 · +2.6% YoY. Source: county tax records.