24 Pine St · Franklinton, NC 27525

$282,000

3 bd · 2.0 ba · 2,140 sqft · SingleFamily public records · 132 Days on market

Built 1965 0.26 ac lot Est $342k · 18% under

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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).

• ARV discount +15.0/15.0
• Appreciation +9.2/10.0
• Cash flow +6.9/30.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +1.1/10.0

Listing remarks MLS

Brick ranch close to downtown Franklinton, restaurants, breweries, shops. Easy access to US1. Main level offers 2 bedrooms, 1 full bath, kitchen, dining area and living room. Full basement offers excellent opportunity to expand with four additional rooms and a half bath. Home needs repairs and updates, offers a sizeable yard and unbeatable location in gentrifying area. Home best suited for cash, hard money or rehab loan. and will be sold strictly as-is. NC Disclosure not required, survey not available, seller addendum comes after offer is negotiated. Home must be on market 5 days before seller can respond to offers. AGENTS: PLEASE READ ALL REMARKS INCLUDING PRIVATE REMARKS BEFORE CALLING LA.

Key facts

• Elevated deck
• Finished basement
• Private entrance

Tags

• UPDATED HOME
• FINISHED BASEMENT
• PRIVATE ENTRANCE
• LARGE FENCED BACKYARD
• ELEVATED DECK

Property features AI

Finance

• Other: Zoning: RSH
• HOA & community: No homeowners association

Exterior

• Utilities: Public water; Public sewer
• Home design: House; One level; Living area about 2,116.6 total (above and below grade finished areas noted)
• Construction: Brick construction; Block and brick/mortar foundation; Shingle roof; Built with both above-grade and below-grade finished space
• Exterior features: Chain link fencing; Lot is approximately 0.26 acres; Public maintained road access

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator
• Bedrooms: 4 bedrooms total; 2 bedrooms on the main level
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump and natural gas heating; Central air, heat pump, and ceiling fans for cooling
• Interior features: Finished, heated basement with interior entry and walk-out access; Dishwasher, Electric Range, Microwave, Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $282k.

Deal economics

• At list price, monthly cash flow is $-426 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (26.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (38.8% below list).
• Recommended offer: $172k (38.8% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.1% in Franklinton — 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 61/100 on livability (#491 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Franklin County Schools (rural): math 34% / reading 37% proficiency, ranked #128 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklinton Elementary (math 29% / reading 25%, grade F, #1,033 of 1,410 statewide, top 76%, 522 students, 81% FRL); Franklinton Middle (math 26% / reading 27%, grade F, #381 of 475 statewide, top 81%, 247 students, 78% FRL); Franklinton High (math 57% / reading 60%, grade C, #235 of 535 statewide, top 45%, 1,182 students, 48% FRL).
• Market conditions: 251 active listings in the ZIP; 948 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (8.4% local appreciation)).
• Franklin County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($248k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago; this cycle's ask has dropped $48k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $160k; list at $282k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,469 (38.8% 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 132 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.61% ✗
• Cap rate: 4.48%
• Cash-on-cash: -6.47%
• DSCR: 0.71
• GRM: 13.6

CMA / ARV

• ARV (on-the-fly): $342,400
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 N Cheatham St	0.06mi	3/2.0	2,240 (+5%)	12mo	$310,000	$138	80
22 Gerrad St #7	0.25mi	4/2.5 (+1)	2,204 (+3%)	3mo	$350,000	$159	73
28 Gerrad St #10	0.32mi	3/2.5	2,343 (+10%)	3mo	$375,295	$160	65
26 Gerrad St #9	0.33mi	3/2.5	1,929 (-10%)	4mo	$320,000	$166	63
45 Basil Ct	0.66mi	3/2.0	2,176 (+2%)	19mo	$540,000	$248	51
24 Gerrad St #8	0.38mi	4/3.0 (+1)	2,454 (+15%)	3mo	$369,605	$151	46
307 E Mason St	0.55mi	4/2.5 (+1)	2,039 (-5%)	17mo	$360,000	$177	46
411 E Green St	0.71mi	4/4.5 (+1)	2,125 (-1%)	9mo	$270,000	$127	43
411 E Mason St	0.58mi	4/2.0 (+1)	1,870 (-13%)	23mo	$345,000	$184	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 2.22×
• Total profit: $96,634
• Equity at exit: $222,376

10-year hold

• IRR: 15.5%
• Equity multiple: 4.81×
• Total profit: $300,863
• Equity at exit: $449,405

Cash invested: $78,960 (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 27525

• Home prices YoY: 3.0%
• Active inventory: 251
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $1,725 medium
• Mortgage (P&I): −$1,479
• Tax from tax record: −$192 /mo · $2,301/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $-426

Break-even live

Break-even rent $2,263

Max offer price $206,817

Occupancy floor —

Sensitivity live

Price	-10% $-266	-5% $-346	+0% $-426	+5% $-505	+10% $-585
Rent	-10% $-562	-5% $-494	+0% $-426	+5% $-357	+10% $-289
Rate	-1.0pp $-284	-0.5pp $-354	base $-426	+0.5pp $-499	+1.0pp $-573

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: $70,500
• Closing costs: $8,460
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $282,000 Active 132 DOM
2. 2026-06-21
   days on market $282,000 Active 131 DOM
3. 2026-06-18
   days on market $282,000 Active 129 DOM
4. 2026-06-17
   days on market $282,000 Active 128 DOM
5. 2026-06-16
   days on market $282,000 Active 127 DOM
6. 2026-06-15
   days on market $282,000 Active 126 DOM
7. 2026-06-13
   pricedays on market $282,000 Active 124 DOM
8. 2026-06-12
   days on market $287,900 Active 123 DOM
9. 2026-06-09
   days on market $287,900 Active 120 DOM
10. 2026-06-08
    days on market $287,900 Active 119 DOM
11. 2026-06-07
    days on market $287,900 Active 118 DOM
12. 2026-06-07
    pricedays on market $287,900 Active 117 DOM
13. 2026-06-04
    days on market $295,900 Active 114 DOM
14. 2026-06-02
    days on market $295,900 Active 113 DOM
15. 2026-06-01
    days on market $295,900 Active 112 DOM
16. 2026-05-31
    remarks 585-char remark
17. 2026-05-31
    listed $295,900 Active 111 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: $2,301 · $192/mo
• Projected year-2 tax: $2,312 · $193/mo
• Expected delta: +$11/yr (+$1/mo · 0.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% 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: $20,696
• − Mortgage interest: −$15,796
• − Property taxes: −$2,301
• − Insurance: −$1,410
• − Repairs & maintenance: −$1,656
• − Management: −$1,656
• − Depreciation: −$8,204
• Taxable loss: −$10,326
• Est. tax savings @ 24.0%: +$2,478
• After-tax cash flow: $-2,629/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: Franklin County Schools
• NCES district ID: 3701530
• Math proficiency: 34% ▬ 0.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $44,630
• Composite: 30.25/100
• National rank: #6286
• State rank: #128 of 178 in NC

Livability — Franklinton

• Score: 61/100
• State rank: #491
• US rank: #18002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklinton, NC
• County: Franklin County · 64,885 people
• City population: 17,110
• Metro: Raleigh-Cary, NC
• Population (ZIP): 17,110
• Household income: $73,036
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 446.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 69,848 people
• By 2030: 72,480 · +3.8%
• By 2040: 76,682 · +9.8%
• By 2050: 78,993 · +13.1%
• By 2075: 82,888 · +18.7%
• By 2100: 80,784 · +15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 24% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Cuban 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Franklin

• 2024 margin: R (+13.6) · D 42.7% · R 56.3%
• 2008→2024 swing: -12.9pp toward R · 2008: -0.7pp · 2024: -13.6pp
• All cycles: 2024: R+13.6 2020: R+13.4 2016: R+11.7 2012: R+4.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.42%
• Current HPI: 294.1531
• Rent YoY: —
• 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

+65.3% since first listed

26 events — show timeline

• 2026-05-25 Price Changed $295,900 TMLS
• 2026-05-06 Price Changed $299,900 TMLS
• 2026-05-05 Price Changed $309,000 TMLS
• 2026-04-17 Price Changed $314,000 TMLS
• 2026-03-27 Price Changed $319,900 TMLS
• 2026-03-24 Price Changed $324,500 TMLS
• 2026-03-07 Price Changed $324,900 TMLS
• 2026-02-09 Listed $329,900 TMLS
• 2026-01-06 Listing Removed — TMLS
• 2025-11-24 Price Changed $329,900 TMLS
• 2025-11-05 Listed $339,900 TMLS
• 2025-05-12 Sold (MLS) $160,500 TMLS
• 2025-04-23 Pending — TMLS
• 2025-04-11 Listed $149,900 TMLS
• 2022-08-01 Sold (Public Records) $217,000 Public Records
• 2022-07-29 Sold (MLS) $217,000 AMLSNC
• 2022-07-29 Sold (MLS) $217,000 TMLS
• 2022-06-23 Pending — TMLS
• 2022-06-10 Price Changed $207,000 TMLS
• 2022-06-07 Relisted — TMLS
• 2022-04-07 Listing Removed — TMLS
• 2022-04-01 Price Changed $216,000 TMLS
• 2022-02-28 Listed $207,000 LPRMLS
• 2022-02-28 Listed $207,000 AMLSNC
• 2022-02-28 Listed $220,000 TMLS
• 2021-12-21 Sold (Public Records) $179,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $2,301 · -1.1% YoY. Source: county tax records.