227 Perseus St · Lillington, NC 27501

$264,902

4 bd · 2.5 ba · 1,658 sqft · Land · 240 Days on market

Built 2025 3,049 sqft lot $123/mo HOA · 6% of rent

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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 +8.7/30.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• 1% rule +3.3/10.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 227 Perseus Street in Powell — where comfort, style, and convenience meet in the heart of Angier, NC! The Pattison townhome offers 4 bedrooms, 2.5 baths, and 1,658 sq. ft. of beautifully designed living space. The open-concept first floor features a modern kitchen with stainless steel appliances and quartz countertops, flowing into spacious dining and living areas perfect for entertaining or relaxing. Step outside to a private patio for fresh air and quiet moments. Upstairs, the primary suite offers a walk-in closet, double vanity with quartz countertops, and a 5' walk-in shower with glass door. Three additional bedrooms and a convenient laundry area complete this though

Key facts

• Quartz countertops
• Community pool
• Cabana

Tags

• COMMUNITY POOL
• CABANA
• PLAYGROUND
• OPEN-CONCEPT LAYOUT
• STAINLESS-STEEL APPLIANCES
• QUARTZ COUNTERTOPS

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $265k.

Deal economics

• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (17.3% below list).
• Recommended offer: $219k (17.3% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 4.0% in Lillington — 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 71/100 on livability (#101 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Harnett County Schools (rural): math 31% / reading 39% proficiency, ranked #130 of 178 in NC (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harnett Central Middle (math 25% / reading 38%, grade F, #323 of 475 statewide, top 68%, 1,024 students, 63% FRL); Harnett Central High (math 43% / reading 51%, grade D-, #334 of 535 statewide, top 64%, 1,474 students, 56% FRL).
• Market conditions: Rents rising (+1.5%/yr); 657 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).
• This rent runs 36% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.

Recommended offer $219,071 (17.3% 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 240 days. Have you received any prior offers? Is the seller open to a 17% 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. 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: 0.83% ✗
• Cap rate: 5.28%
• Cash-on-cash: -3.61%
• DSCR: 0.84
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -24.2%
• Equity multiple: 0.19×
• Total profit: $-60,342
• Equity at exit: $39,498

10-year hold

• IRR: -24.6%
• Equity multiple: -0.13×
• Total profit: $-83,612
• Equity at exit: $22,904

Cash invested: $74,173 (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 27501

• Home prices YoY: -11.4%
• Rents YoY: 1.5%
• Active inventory: 657
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,191 high
• Mortgage (P&I): −$1,389
• Tax est. 1.5%: −$331 /mo · $3,974/yr
• Insurance: −$110
• HOA: −$123
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $-223

Break-even live

Break-even rent $2,473

Max offer price $232,632

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: $66,226
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Virgo Dr Angier, NC	3.0	2.5	1418	$1,850	$1.30	23d	1	0.03mi
265 Royal Meadow Dr Angier, NC	4.0	2.5	1800	$1,830	$1.02	23d	1	0.29mi
50 Chedworth Dr Angier, NC	3.0	2.0	1384	$2,095	$1.51	23d	1	0.58mi
59 Ivy Bank Dr Angier, NC	3.0	2.0	1316	$1,729	$1.31	23d	1	0.68mi
59 Ivy Bank Dr Angier, NC	3.0	2.0	1316	$1,729	$1.31	21d	1	0.68mi
18 March Creek Dr Fuquay Varina, NC	3.0	2.5	1418	$1,800	$1.27	23d	1	1.20mi
198 Moore Creek Dr Fuquay Varina, NC	4.0	2.0	1764	$2,195	$1.24	13d	1	1.31mi

HOA detail

• Monthly dues: $123 · $1,476/yr

Listing history 11 events

1. 2026-04-10
   status Pending
2. 2026-02-03
   price $264,902
3. 2025-12-31
   price $269,402
4. 2025-11-07
   price $274,900
5. 2025-10-31
   price $279,900
6. 2025-10-24
   price $289,900
7. 2025-10-10
   price $295,500
8. 2025-09-17
   price $307,500
9. 2025-08-22
   price $305,000
10. 2025-08-13
    listed $295,000 Active
11. 2024-04-11
    soldstatus $1,453,500

ⓘ 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: $26,289
• − Mortgage interest: −$14,839
• − Property taxes: −$3,974
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,103
• − Management: −$2,103
• − HOA: −$1,476
• − Depreciation: −$7,706
• Taxable loss: −$7,236
• Est. tax savings @ 24.0%: +$1,737
• After-tax cash flow: $-939/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: Harnett County Schools
• NCES district ID: 3702010
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 39% ▼ -1.00%
• Median HH income: $45,400
• Composite: 29.88/100
• National rank: #6397
• State rank: #130 of 178 in NC

Livability — Lillington

• Score: 71/100
• State rank: #101
• US rank: #6653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lillington, NC
• County: Harnett County · 125,715 people
• City population: 21,419
• Metro: Fayetteville, NC
• Population (ZIP): 24,806
• Household income: $73,336
• Rent vs Own: 22.1% rent · 77.9% own
• Severe rent burden: 339.0

Population outlook (Harnett County) Hauer SSP2

• Today (2025): 153,758 people
• By 2030: 166,581 · +8.3%
• By 2040: 192,741 · +25.4%
• By 2050: 218,332 · +42.0%
• By 2075: 275,422 · +79.1%
• By 2100: 313,511 · +103.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 20% Black 10% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada, China
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1%

Political lean MEDSL · Harnett

• 2024 margin: Strong R (+25.1) · D 36.9% · R 62.0% · Other 1.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -16.7pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+22.4 2016: R+24.1 2012: R+19.4 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.84%
• Current HPI: 248.5302
• Rent YoY: ▲ 1.47%
• Metro: Fayetteville, 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

-81.8% since first listed

11 events — show timeline

• 2026-04-10 Pending — TMLS
• 2026-02-03 Price Changed $264,902 TMLS
• 2025-12-31 Price Changed $269,402 TMLS
• 2025-11-07 Price Changed $274,900 TMLS
• 2025-10-31 Price Changed $279,900 TMLS
• 2025-10-24 Price Changed $289,900 TMLS
• 2025-10-10 Price Changed $295,500 TMLS
• 2025-09-17 Price Changed $307,500 TMLS
• 2025-08-22 Price Changed $305,000 TMLS
• 2025-08-13 Listed $295,000 TMLS
• 2024-04-11 Sold (Public Records) $1,453,500 Public Records

Property tax history

+0.8%/yr

Latest (2025): $139 · +0.8% YoY. Source: county tax records.