838 Hanford Landing Dr · Graham, NC 27253

$307,990

3 bd · 2.0 ba · 1,455 sqft · MultiFamily · 7 Days on market

Built 2026 Good condition 4,965 sqft lot $120/mo HOA · 9% of rent

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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 +11.7/30.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 839 Hanford Landing, where affordable homeownership and easy living come together. This thoughtfully designed one-story paired villa offers 3 bedrooms, 2 baths, and an open-concept layout that makes everyday living comfortable and convenient. Enjoy granite countertops throughout, beautiful white cabinetry with crown molding, luxury vinyl plank flooring in the main living areas, and 9-foot ceilings that create a bright and welcoming feel. The covered patio provides the perfect spot to relax, unwind, or enjoy your morning coffee. Beyond your front door, Hanford Landing is planned with sidewalks, streetlights, and a community picnic area, creating a neighborhood designed for connect

Key facts

• Covered patio
• Granite countertops
• Crown molding

Tags

• GRANITE COUNTERTOPS
• WHITE CABINETRY
• CROWN MOLDING
• LUXURY VINYL PLANK FLOORING
• COVERED PATIO
• COMMUNITY PICNIC AREA

Property features AI

Finance

• Financial info: List price $307,990

Exterior

• Parking: 2 parking spaces
• Utilities: Electric heating (heat pump); Central air conditioning
• Home design: Spec new construction, Plan name: Clay
• Exterior features: Living area approximately 1,455

Interior

• Kitchen: Dishwasher; Disposal; Microwave
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating with heat pump; Central air conditioning
• Interior features: Dishwasher; Disposal; Microwave

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $308k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (11.4% below list).
• Recommended offer: $273k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.3% in Graham — 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 69/100 on livability (#144 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D-, 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.
• Market conditions: 395 active listings in the ZIP; 15 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).
• At $2,729/mo this rent would consume 52% of the median local household income ($63k/yr) (locally 879% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,900 (11.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.29%
• DSCR: 0.94
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-55,687
• Equity at exit: $45,922

10-year hold

• IRR: -10.6%
• Equity multiple: 0.36×
• Total profit: $-55,613
• Equity at exit: $26,629

Cash invested: $86,237 (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 27253

• Home prices YoY: -34.2%
• Active inventory: 395
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $2,729 medium
• Mortgage (P&I): −$1,615
• Tax est. 1.5%: −$385 /mo · $4,620/yr
• Insurance: −$128
• HOA: −$120
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $-93

Break-even live

Break-even rent $2,846

Max offer price $294,599

Occupancy floor 98%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,728
Total (2 units)			$2,729

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: $76,998
• Closing costs: $9,240
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 Lorraine Dr Graham, NC	3.0	2.0	1382	$1,650	$1.19	20d	1	0.43mi
219 Moyer Dr Graham, NC	3.0	2.5	1500	$1,825	$1.22	13d	1	0.54mi
751 Kernodle Ln Graham, NC	3.0	2.0	902	$1,350	$1.50	20d	1	0.55mi
201 Moyer Dr Graham, NC	3.0	2.5	1612	$1,950	$1.21	13d	1	0.56mi
130 W Crescent Square Dr Graham, NC	2.0	2.0	1159	$1,364	$1.18	20d	6	0.66mi
100 Ivey Rd Unit 104 Graham, NC	2.0	1.5	1100	$1,195	$1.09	20d	1	0.68mi
115 Ivey Rd Unit 115-E Graham, NC	2.0	1.5	965	$1,296	$1.34	20d	1	0.69mi
115 Ivey Rd Unit 115-H Graham, NC	2.0	1.5	965	$1,295	$1.34	20d	1	0.69mi
433 Holt Ave Graham, NC	2.0	2.0	1205	$1,727	$1.43	13d	1	1.04mi
507 Cornelia Dr Graham, NC	3.0	2.0	1600	$1,600	$1.00	13d	1	1.12mi
318 Wilson St Graham, NC	3.0	2.0	1279	$1,795	$1.40	13d	1	1.14mi
250 Nicks St Graham, NC	3.0	2.0	1392	$1,800	$1.29	20d	1	1.16mi
284 Still Pasture Ln Unit 284 Graham, NC	3.0	2.5	1400	$1,975	$1.41	20d	1	1.25mi
284 Still Pasture Ln Unit 284 Graham, NC	3.0	2.5	1400	$1,975	$1.41	13d	1	1.25mi
317a Atwood Dr Burlington, NC	2.0	1.5	980	$1,282	$1.31	20d	8	1.37mi

HOA detail

• Monthly dues: $120 · $1,440/yr

Listing history 13 events

1. 2026-06-19
   days on market $307,990 Active 7 DOM
2. 2026-06-18
   days on market $307,990 Active 6 DOM
3. 2026-06-17
   days on market $307,990 Active 5 DOM
4. 2026-06-16
   days on market $307,990 Active 4 DOM
5. 2026-06-15
   days on market $307,990 Active 3 DOM
6. 2026-06-13
   days on marketlisting id $307,990 Active 1 DOM
7. 2026-06-10
   days on market $307,990 Active 8 DOM
8. 2026-06-09
   days on market $307,990 Active 7 DOM
9. 2026-06-08
   days on market $307,990 Active 6 DOM
10. 2026-06-07
    days on market $307,990 Active 5 DOM
11. 2026-06-05
    days on market $307,990 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $307,990 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,748
• − Mortgage interest: −$17,252
• − Property taxes: −$4,620
• − Insurance: −$1,540
• − Repairs & maintenance: −$2,620
• − Management: −$2,620
• − HOA: −$1,440
• − Depreciation: −$8,960
• Taxable loss: −$6,303
• Est. tax savings @ 24.0%: +$1,513
• After-tax cash flow: $402/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.

Condition & rehab AI · 4 photos

Good 80/100 Cosmetic rehab

The home appears to be in good condition with no major repairs needed. It has a good exterior, landscaping, and interior. Painting the exterior and making minor interior updates would increase its resale and rental value.

Value-add opportunities

• Both Painting the exterior siding and trim — Fresh paint can enhance the curb appeal and increase the home's value.
• Both Landscaping improvements — Well-maintained landscaping can increase the home's curb appeal and attract more potential buyers or renters.
• Resale Interior updates (paint, minor repairs) — Fresh paint and minor repairs can make the interior more appealing to potential buyers.
• Rental HVAC maintenance — A well-maintained HVAC system can attract more renters and reduce maintenance costs.
• Both Landscaping improvements — Well-maintained landscaping can increase the home's curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding and trim — Fresh paint can enhance the curb appeal and increase the home's value. ↑
• Both Landscaping improvements — Well-maintained landscaping can increase the home's curb appeal and attract more potential buyers or renters. ↑
• Resale Interior updates (paint, minor repairs) — Fresh paint and minor repairs can make the interior more appealing to potential buyers. ↑
• Rental HVAC maintenance — A well-maintained HVAC system can attract more renters and reduce maintenance costs. ↑
• Both Landscaping improvements — Well-maintained landscaping can increase the home's curb appeal and attract more potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Graham

• Score: 69/100
• State rank: #144
• US rank: #8181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Graham, NC
• County: Alamance County · 173,369 people
• City population: 33,114
• Metro: Burlington, NC
• Population (ZIP): 33,114
• Household income: $62,774
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 879.0

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 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 17% Black 16% Two or more races 9%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 3% Romanian 2% Italian 1%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 84% English-only · Spanish 13%

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: ▼ -103.91%
• Current HPI: 200.155
• Rent YoY: —
• 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