161 Green St · Franklin, NC 28734

$263,800

3 bd · 2.0 ba · 1,680 sqft · SingleFamily · 22 Days on market

Built 2012 0.37 ac lot Est $348k · 24% 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 +8.0/10.0
• Cash flow +7.2/30.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0

Listing remarks

Don't miss your chance to own a Like New fully renovated gem right in the heart of Franklin. This striking 3-bedroom, 2-bath residence offers 1,680 square feet of thoughtfully updated living space, wrapped in a bold dark board-and-batten exterior with warm wood accents and a durable standing seam metal roof that is as low-maintenance as it is eye-catching. Inside, every detail has been addressed — brand-new appliances, stylish new hard wood flooring throughout, and beautifully remodeled kitchen and bathrooms that are truly move-in ready from day one. Pull right up under the attached covered carport connected directly to the front entry, offering convenient covered parking with a clean

Key facts

• Fully renovated
• Hard wood flooring
• Remodeled kitchen

Tags

• FULLY RENOVATED
• STANDING SEAM METAL ROOF
• BRAND-NEW APPLIANCES
• HARD WOOD FLOORING
• REMODELED KITCHEN
• REMODELED BATHROOMS

Property features AI

Exterior

• Parking: 2 covered parking spaces; Attached 2-space carport; Open paved parking
• Utilities: Public water; Public sewer; Propane
• Home design: Double wide mobile home; Single-family residence
• Construction: HardiPlank-type siding; Metal roof
• Exterior features: Deck; Rolling to level, open city lot; Paved public road access on a city street

Interior

• Kitchen: Electric range; Electric oven; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Electric heating; Central cooling (heat pump)
• Interior features: Kitchen island; Insulated windows; Wood-burning fireplace; Finished basement with crawl space
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $264k.

Deal economics

• At list price, monthly cash flow is $-358 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (29.7% below list).
• Recommended offer: $185k (29.7% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 2.4% in Franklin — 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 74/100 on livability (#55 in NC, #4,469 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime C-, employment D+, schools D.
• Macon County Schools (rural): math 47% / reading 50% proficiency, ranked #71 of 178 in NC (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 606 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 218 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $18k of equity ($2k loan paydown + $16k appreciation (6.0% local appreciation)).
• Macon County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($260k) is reasonable based on typical stale-listing flexibility.

Recommended offer $185,400 (29.7% 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. 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. 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?
5. 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.
6. 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.
7. 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: 0.70% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.82%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $347,760
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
55 Horizon Dr	0.41mi	2/2.0 (-1)	1,740 (+4%)	3mo	$295,000	$170	67
45 Cove Xing	0.58mi	3/2.0	1,670 (-1%)	19mo	$339,000	$203	56
50 Trimont Trl	0.32mi	2/2.0 (-1)	1,528 (-9%)	12mo	$365,000	$239	55
50 Mccollum Dr	0.62mi	2/2.0 (-1)	1,603 (-5%)	14mo	$315,000	$197	47
29 Cove Xing	0.59mi	3/2.0	1,586 (-6%)	20mo	$329,000	$207	46
35 Market St	0.53mi	3/3.5	1,881 (+12%)	23mo	$505,000	$268	30

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

Projected returns pro-forma

5.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.71×
• Total profit: $52,779
• Equity at exit: $165,211

10-year hold

• IRR: 11.7%
• Equity multiple: 3.35×
• Total profit: $173,325
• Equity at exit: $299,064

Cash invested: $73,864 (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 28734

• Home prices YoY: 1.8%
• Active inventory: 606
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,854 medium
• Mortgage (P&I): −$1,383
• Tax est. 1.5%: −$330 /mo · $3,957/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-358

Break-even live

Break-even rent $2,308

Max offer price $211,939

Occupancy floor —

Sensitivity live

Price	-10% $-176	-5% $-267	+0% $-358	+5% $-450	+10% $-541
Rent	-10% $-505	-5% $-432	+0% $-358	+5% $-285	+10% $-212
Rate	-1.0pp $-226	-0.5pp $-291	base $-358	+0.5pp $-427	+1.0pp $-496

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: $65,950
• Closing costs: $7,914
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Woodland Hills Dr Franklin, NC	3.0	2.0	1232	$2,300	$1.87	15d	1	0.83mi
3 Woodland Hills Dr Franklin, NC	3.0	2.0	1232	$2,300	$1.87	15d	1	0.83mi

Listing history 16 events

1. 2026-06-18
   days on market $263,800 Active 22 DOM
2. 2026-06-17
   days on market $263,800 Active 21 DOM
3. 2026-06-16
   days on market $263,800 Active 20 DOM
4. 2026-06-15
   days on market $263,800 Active 19 DOM
5. 2026-06-14
   days on market $263,800 Active 17 DOM
6. 2026-06-10
   days on market $263,800 Active 14 DOM
7. 2026-06-09
   days on market $263,800 Active 13 DOM
8. 2026-06-08
   days on market $263,800 Active 12 DOM
9. 2026-06-07
   days on market $263,800 Active 11 DOM
10. 2026-06-05
    days on market $263,800 Active 8 DOM
11. 2026-06-03
    days on market $263,800 Active 7 DOM
12. 2026-06-02
    days on market $263,800 Active 6 DOM
13. 2026-06-01
    days on market $263,800 Active 5 DOM
14. 2026-05-31
    days on market $263,800 Active 4 DOM
15. 2026-05-31
    days on market $263,800 Active 3 DOM
16. 2026-05-27
    listed $263,800 Active

ⓘ 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 4/10 Moderate 7 d/yr ≥95°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,248
• − Mortgage interest: −$14,777
• − Property taxes: −$3,957
• − Insurance: −$1,319
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$7,674
• Taxable loss: −$9,039
• Est. tax savings @ 24.0%: +$2,169
• After-tax cash flow: $-2,132/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: Macon County Schools
• NCES district ID: 3702760
• Math proficiency: 47% ▲ 7.00%
• Reading proficiency: 50% ▲ 3.00%
• Median HH income: $39,072
• Composite: 40.49/100
• National rank: #3713
• State rank: #71 of 178 in NC

Livability — Franklin

• Score: 74/100
• State rank: #55
• US rank: #4469

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, NC
• County: Macon County · 29,659 people
• City population: 29,659
• Metro: nan
• Population (ZIP): 29,659
• Household income: $54,021
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 602.0

Population outlook (Macon County) Hauer SSP2

• Today (2025): 34,346 people
• By 2030: 34,353 · +0.0%
• By 2040: 33,956 · -1.1%
• By 2050: 33,249 · -3.2%
• By 2075: 31,526 · -8.2%
• By 2100: 28,113 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 5% Serbian 5% Lithuanian 3%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Macon

• 2024 margin: Solid R (+38.0) · D 30.6% · R 68.6%
• 2008→2024 swing: -16.6pp toward R · 2008: -21.4pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+38.5 2016: R+41.5 2012: R+30.6 2008: R+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.96%
• Current HPI: 341.1756
• Rent YoY: —
• Metro: nan
• 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

1 event — show timeline

• 2026-05-27 Listed $263,800 CSAOR