106 Carrington Dr · Knightdale, NC 27545

$170,000

3 bd · 2.0 ba · 1,180 sqft · SingleFamily public records · 1 Days on market

Built 1986 0.35 ac lot Est $281k · 39% under

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Why this score? — see what drove the B 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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.7/10.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 1/2 STORY CAPE COD WITH HUGE FAMILY ROOM, MASONRY FIREPLACE, FORMAL DININ ROOM WITH BEAUTIFUL HARDWOODS, BAY WINDOW AND CHAIR RAIL, BACK YARD IS FENCED AND HAS A LARGE DECK FOR COOKING OUT. THEY DON'T BUILD THEM LIKE THIS ANYMORE, A REAL MUST SEE!!!! LARGE STORAGE BUILDING BEHIND FENCE IS INCLUDED! SHOWINGS SATURDAYS AND SUNDAYS ONLY!!!

Key facts

• 0.35 acre lot
• 4 parking spots
• Built 1986

Property features AI

Finance

• Other: Located in Wake County; Directions available to property
• HOA & community: No homeowners association

Exterior

• Parking: 4 open parking spaces (4 total parking spots)
• Utilities: Community water; Community sewer; Electric service (standard)
• Home design: One-story house
• Construction: Brick veneer and vinyl siding exterior; Shingle roof; Combination foundation; House structure; Built living area approximately 1,180 above grade
• Exterior features: 0.35-acre lot; Publicly maintained road access

Interior

• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate; Combination flooring
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Heating & cooling: Heat pump (heating); Central air conditioning
• Interior features: Combination of carpet, laminate and other flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 9.3% vs local median 2.9% in Knightdale — 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 82/100 on livability (#11 in NC, #1,212 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A; Watch: amenities C-, schools F.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-1.4%/yr); 406 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); solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 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 $5k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 28y 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 $128k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% 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 $170,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.17% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.87%
• DSCR: 1.48
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $280,840
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
704 Southampton Dr	0.46mi	3/2.0	1,200 (+2%)	2mo	$310,000	$258	74
104 Saint Johns St	0.56mi	3/2.0	1,194 (+1%)	4mo	$325,000	$272	68
310 Second Ave	0.41mi	3/2.0	1,060 (-10%)	0mo	$250,000	$236	63
301 Faison Dr	0.63mi	3/1.5	1,226 (+4%)	3mo	$289,000	$236	60
121 Jutson St	0.62mi	3/1.5	1,031 (-13%)	17mo	$244,900	$238	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.88×
• Total profit: $-5,920
• Equity at exit: $25,348

10-year hold

• IRR: 2.6%
• Equity multiple: 1.16×
• Total profit: $7,685
• Equity at exit: $14,698

Cash invested: $47,600 (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 27545

• Home prices YoY: -33.1%
• Rents YoY: -1.4%
• Active inventory: 406
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,991 high
• Mortgage (P&I): −$891
• Tax from tax record: −$179 /mo · $2,152/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $431

Break-even live

Break-even rent $1,445

Max offer price $170,000

Occupancy floor 73%

Sensitivity live

Price	-10% $527	-5% $479	+0% $431	+5% $383	+10% $335
Rent	-10% $274	-5% $352	+0% $431	+5% $510	+10% $588
Rate	-1.0pp $517	-0.5pp $474	base $431	+0.5pp $387	+1.0pp $342

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1025 Luxury Ln Durham, NC	1.0–3.0	1.0–2.0	1093	$2,909	$2.66	2d	58	0.12mi
100 E Cameo Ln Knightdale, NC	1.0–3.0	1.0–2.0	875	$1,605	$1.83	24d	12	0.25mi
102 Fawn Ridge Ct Knightdale, NC	3.0	2.5	1454	$1,850	$1.27	5d	1	0.44mi
335 Railroad St Knightdale, NC	2.0	1.0	810	$1,245	$1.54	3d	3	0.44mi
357 Railroad St Knightdale, NC	2.0	1.0	816	$1,245	$1.53	21d	1	0.45mi
323 Railroad St Knightdale, NC	2.0	1.0	805	$1,195	$1.48	21d	1	0.45mi
375 Railroad St Knightdale, NC	2.0	1.0	816	$1,295	$1.59	24d	1	0.45mi
685 Popedale Rd Knightdale, NC	2.0–5.0	2.5–3.5	1618	$2,367	$1.46	24d	50	0.53mi
332 Bethlehem Rd Unit 338 Knightdale, NC	2.0	1.0	800	$1,325	$1.66	24d	1	0.58mi
332 Bethlehem Rd Unit 340 Knightdale, NC	2.0	1.0	800	$1,275	$1.59	24d	1	0.58mi
1201 Aragon Dr Knightdale, NC	1.0–3.0	1.0–2.0	1028	$1,596	$1.55	2d	22	0.60mi
341 Sugar Magnolia Ln Knightdale, NC	1.0–2.0	1.0–2.0	950	$2,075	$2.18	24d	85	0.97mi
1001 Greystone Common Dr Knightdale, NC	1.0–3.0	1.0–2.0	948	$1,812	$1.91	2d	32	1.01mi
6833 Forestville Rd Raleigh, NC	3.0	1.5	1092	$1,600	$1.47	24d	1	1.28mi
621 Glen Manor Trl Knightdale, NC	1.0–3.0	1.0–2.0	1062	$2,100	$1.98	2d	16	1.48mi
1100 Cannonball Run Knightdale, NC	1.0–2.0	1.0–2.0	1022	$1,875	$1.83	3d	11	1.49mi

Listing history 3 events

1. 2026-06-13
   status $170,000 Pending 1 DOM
2. 2026-06-13
   remarks 486-char remark
3. 2026-06-13
   listed $170,000 Active 1 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: $2,152 · $179/mo
• Projected year-2 tax: $2,152 · $179/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,889
• − Mortgage interest: −$9,523
• − Property taxes: −$2,152
• − Insurance: −$850
• − Repairs & maintenance: −$1,911
• − Management: −$1,911
• − Depreciation: −$4,945
• Taxable income: $2,596
• Est. tax owed @ 24.0%: −$623
• After-tax cash flow: $4,549/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: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Knightdale

• Score: 82/100
• State rank: #11
• US rank: #1212

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Knightdale, NC
• County: Wake County · 1,216,256 people
• City population: 34,163
• Metro: Raleigh-Cary, NC
• Population (ZIP): 34,163
• Household income: $91,527
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 637.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 37% White 34% Hispanic / Latino 20% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 12% Dominican 2%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 17% · Canada, Vietnam, Philippines
• Languages at home: 77% English-only · Spanish 18% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.68%
• Current HPI: 228.2131
• Rent YoY: ▼ -1.44%
• 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

+112.5% since first listed

14 events — show timeline

• 2026-06-12 Listed $170,000 TMLS
• 2023-11-29 Price Changed $89,900 TMLS
• 2006-07-07 Sold (Public Records) $128,500 Public Records
• 2006-07-01 Sold (MLS) $128,244 TMLS
• 2006-05-21 Listing Removed — TMLS
• 2005-06-28 Listed $129,900 TMLS
• 2005-06-11 Listing Removed — TMLS
• 2005-03-13 Listed $125,000 TMLS
• 1999-03-31 Sold (Public Records) $103,000 Public Records
• 1999-03-31 Sold (MLS) $102,900 TMLS
• 1999-02-06 Price Changed $104,900 TMLS
• 1998-07-27 Listed $104,900 TMLS
• 1995-05-26 Sold (Public Records) $97,000 Public Records
• 1986-11-24 Sold (Public Records) $80,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $2,152 · +0.4% YoY. Source: county tax records.