229 Brushy Dr · Lexington, NC 27295

$210,000

3 bd · 2.0 ba · 1,404 sqft · Land public records · 31 Days on market

Built 1996 0.48 ac lot

---

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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Livability +3.6/5.0
• 1% rule +3.3/10.0
• Rent growth +3.3/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

**Due to an overwhelming response- PLEASE SUBMIT HIGHEST & BEST OFFERS OFFERS BY 6 PM MONDAY 3/7. Welcome Home!!! Lots of space in this completely renovated home. Large fenced back yard with storage buildings. Two car metal carport. The rustic laminate flooring, granite countertops, and adorable built ins give this home the perfect touch. Large living room with beautiful rock fireplace. Almost everything is brand new including gutters, flooring, showers, sinks, toilets, countertops, fixtures and more. All appliances (including washer and dryer) will convey. The only thing this home is missing is YOU! Schedule your showing today!

Key facts

• Ample counter space
• Detached carport
• Fenced yard

Tags

• OVERSIZED PRIMARY SUITE
• LARGE WALK-THRU CLOSET
• AMPLE COUNTER SPACE
• FENCED YARD
• DETACHED CARPORT
• STORAGE BUILDINGS

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Detached carport; Driveway; Carport with 2 vehicle spaces
• Utilities: Public water; Public sewer; Electric power
• Home design: Manufactured double-wide home; One story; Built in 1996; Existing structure; Great Room fireplace
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Fenced yard; Public maintained road access

Interior

• Kitchen: Microwave
• Bedrooms: Bedrooms located on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Electric heating; Central air conditioning; Electric water heater
• Interior features: Ceiling fan(s); Primary bedroom on main level
• Laundry & utility: Dryer connection; Laundry located in basement/crawl space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $210k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/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 $174k (17.2% below list).
• Recommended offer: $174k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.5% in Lexington — 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 72/100 on livability (#89 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D, crime F, amenities D-.
• Lexington City Schools (suburban): math 32% / reading 38% proficiency, ranked #136 of 178 in NC (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.4%/yr); 351 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 990 units permitted in Davidson County in 2024 (54 in 5+ unit buildings).
• This rent runs 33% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Davidson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $166k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,967 (17.2% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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. 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 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: 6.96%
• Cash-on-cash: 2.38%
• DSCR: 1.11
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-26,046
• Equity at exit: $31,312

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-10,808
• Equity at exit: $18,157

Cash invested: $58,800 (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 27295

• Home prices YoY: -15.2%
• Rents YoY: 3.4%
• Active inventory: 351
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,740 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$69 /mo · $828/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $117

Break-even live

Break-even rent $1,592

Max offer price $210,000

Occupancy floor 88%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Regents Center Ct Lexington, NC	1.0–3.0	1.0–2.0	1077	$1,845	$1.71	1d	21	0.86mi
301 Williamson St Unit B Lexington, NC	2.0	1.0	896	$1,000	$1.12	23d	1	1.12mi
500 Rylee Ln Lexington, NC	3.0	2.0	1200	$1,550	$1.29	14d	1	1.26mi

Listing history 9 events

1. 2026-05-02
   historical Due Diligence Period
2. 2026-04-24
   listed $210,000 Active
3. 2022-04-29
   soldstatus $166,000 Closed 643-char remark

   Show marketing remark (643 chars)

   **Due to an overwhelming response- PLEASE SUBMIT HIGHEST & BEST OFFERS OFFERS BY 6 PM MONDAY 3/7. Welcome Home!!! Lots of space in this completely renovated home. Large fenced back yard with storage buildings. Two car metal carport. The rustic laminate flooring, granite countertops, and adorable built ins give this home the perfect touch. Large living room with beautiful rock fireplace. Almost everything is brand new including gutters, flooring, showers, sinks, toilets, countertops, fixtures and more. All appliances (including washer and dryer) will convey. The only thing this home is missing is YOU! Schedule your showing today!

4. 2022-04-29
   soldstatus $167,000

   Show marketing remark (643 chars)

   **Due to an overwhelming response- PLEASE SUBMIT HIGHEST & BEST OFFERS OFFERS BY 6 PM MONDAY 3/7. Welcome Home!!! Lots of space in this completely renovated home. Large fenced back yard with storage buildings. Two car metal carport. The rustic laminate flooring, granite countertops, and adorable built ins give this home the perfect touch. Large living room with beautiful rock fireplace. Almost everything is brand new including gutters, flooring, showers, sinks, toilets, countertops, fixtures and more. All appliances (including washer and dryer) will convey. The only thing this home is missing is YOU! Schedule your showing today!

5. 2022-03-31
   status Pending 643-char remark

   Show marketing remark (643 chars)

   **Due to an overwhelming response- PLEASE SUBMIT HIGHEST & BEST OFFERS OFFERS BY 6 PM MONDAY 3/7. Welcome Home!!! Lots of space in this completely renovated home. Large fenced back yard with storage buildings. Two car metal carport. The rustic laminate flooring, granite countertops, and adorable built ins give this home the perfect touch. Large living room with beautiful rock fireplace. Almost everything is brand new including gutters, flooring, showers, sinks, toilets, countertops, fixtures and more. All appliances (including washer and dryer) will convey. The only thing this home is missing is YOU! Schedule your showing today!

6. 2022-03-09
   historical Due Diligence Period 643-char remark

   Show marketing remark (643 chars)

   **Due to an overwhelming response- PLEASE SUBMIT HIGHEST & BEST OFFERS OFFERS BY 6 PM MONDAY 3/7. Welcome Home!!! Lots of space in this completely renovated home. Large fenced back yard with storage buildings. Two car metal carport. The rustic laminate flooring, granite countertops, and adorable built ins give this home the perfect touch. Large living room with beautiful rock fireplace. Almost everything is brand new including gutters, flooring, showers, sinks, toilets, countertops, fixtures and more. All appliances (including washer and dryer) will convey. The only thing this home is missing is YOU! Schedule your showing today!

7. 2022-03-04
   listed $165,000 Active 643-char remark

   Show marketing remark (643 chars)

   **Due to an overwhelming response- PLEASE SUBMIT HIGHEST & BEST OFFERS OFFERS BY 6 PM MONDAY 3/7. Welcome Home!!! Lots of space in this completely renovated home. Large fenced back yard with storage buildings. Two car metal carport. The rustic laminate flooring, granite countertops, and adorable built ins give this home the perfect touch. Large living room with beautiful rock fireplace. Almost everything is brand new including gutters, flooring, showers, sinks, toilets, countertops, fixtures and more. All appliances (including washer and dryer) will convey. The only thing this home is missing is YOU! Schedule your showing today!

8. 2021-12-03
   soldstatus $46,000
9. 1996-06-01
   soldstatus $9,000

ⓘ 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: $828 · $69/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$894/yr (+$75/mo · 108.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,876
• − Mortgage interest: −$11,763
• − Property taxes: −$828
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − Depreciation: −$6,109
• Taxable loss: −$2,214
• Est. tax savings @ 24.0%: +$531
• After-tax cash flow: $1,930/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: Lexington City Schools
• NCES district ID: 3702640
• Math proficiency: 32% ▲ 3.00%
• Reading proficiency: 38% ▲ 6.00%
• Median HH income: $27,758
• Composite: 28.2/100
• National rank: #6807
• State rank: #136 of 178 in NC

Livability — Lexington

• Score: 72/100
• State rank: #89
• US rank: #6051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Davidson County · 129,088 people
• City population: 79,578
• Metro: Winston-Salem, NC
• Population (ZIP): 39,267
• Household income: $63,961
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 733.0

Population outlook (Davidson County) Hauer SSP2

• Today (2025): 167,156 people
• By 2030: 167,216 · +0.0%
• By 2040: 164,524 · -1.6%
• By 2050: 157,229 · -5.9%
• By 2075: 138,084 · -17.4%
• By 2100: 112,729 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 6% Black 6% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Slovak 2% Italian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Davidson

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.1%
• 2008→2024 swing: -13.5pp toward R · 2008: -33.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+47.5 2016: R+49.4 2012: R+40.9 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.39%
• Current HPI: 258.6557
• Rent YoY: ▲ 3.37%
• Metro: Winston-Salem, 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

+2233.3% since first listed

9 events — show timeline

• 2026-05-02 Contingent — Triad MLS
• 2026-04-24 Listed $210,000 Triad MLS
• 2022-04-29 Sold (Public Records) $167,000 Public Records
• 2022-04-29 Sold (MLS) $166,000 Triad MLS
• 2022-03-31 Pending — Triad MLS
• 2022-03-09 Contingent — Triad MLS
• 2022-03-04 Listed $165,000 Triad MLS
• 2021-12-03 Sold (Public Records) $46,000 Public Records
• 1996-06-01 Sold (Public Records) $9,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $828 · +0.0% YoY. Source: county tax records.