608 Oak St · Burlington, NC 27215

$135,000

2 bd · 1.0 ba · 1,204 sqft · SingleFamily public records · 25 Days on market

Built 1930 6,534 sqft lot Est $234k · 42% under

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Why this score? — see what drove the C 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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.3/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! This 3-bed, 1-bath home is being sold AS IS and features key upgrades including new windows, updated bath, new HVAC, and new water heater. Well-situated close to downtown Burlington and Burlington City Park, it’s ideal for rental, flip, or long-term hold. Schedule a showing today!

Key facts

• Burlington city park
• Updated bath
• New hvac

Tags

• NEW WINDOWS
• UPDATED BATH
• NEW HVAC
• NEW WATER HEATER
• CLOSE TO DOWNTOWN BURLINGTON
• BURLINGTON CITY PARK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/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 $125k (7.1% below list).
• Recommended offer: $125k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.6% in Burlington — 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 70/100 on livability (#123 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, crime F, 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.
• Zoned schools: Harvey R Newlin Elementary (math 9% / reading 17%, grade F, #1,356 of 1,410 statewide, top 96%, 516 students, 99% FRL) — zoned schools average 99% FRL vs 51% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 13% at this address vs 35% district-wide (-22 pts) — the specific schools serving this property underperform the Alamance-Burlington Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.6%/yr); 312 active listings in the ZIP; 24 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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

• It's been on market 25 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $77k; list at $135k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 20% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,379 (7.1% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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. 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: 0.93% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.06%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $233,576
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 E Kime St	0.43mi	2/1.0	1,312 (+9%)	3mo	$209,000	$159	63
719 Center Ave	0.38mi	3/1.5 (+1)	1,329 (+10%)	1mo	$285,000	$214	57
406 S Flanner St	0.44mi	2/1.0	1,098 (-9%)	12mo	$100,000	$91	55
1234 Kenwood Dr	0.60mi	3/2.0 (+1)	1,167 (-3%)	4mo	$230,000	$197	55
112 Kime St	0.45mi	2/1.0	1,068 (-11%)	11mo	$185,000	$173	51
416 Everett St	0.35mi	3/2.0 (+1)	1,078 (-10%)	10mo	$220,000	$204	48
619 N Mebane St	0.70mi	3/1.0 (+1)	1,166 (-3%)	12mo	$180,000	$154	47
907 Kilby St	0.32mi	3/1.5 (+1)	1,375 (+14%)	9mo	$245,100	$178	47
1542 Farningham Ln	0.60mi	3/2.0 (+1)	1,150 (-4%)	12mo	$230,000	$200	46
1315 Elder Way	0.68mi	3/1.0 (+1)	1,132 (-6%)	10mo	$185,000	$163	44
815 Graham St	0.66mi	3/2.0 (+1)	1,275 (+6%)	13mo	$247,000	$194	40
815 Graham St	0.66mi	3/2.0 (+1)	1,275 (+6%)	13mo	$247,000	$194	40

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 · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.68×
• Total profit: $-12,258
• Equity at exit: $20,129

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $224
• Equity at exit: $11,672

Cash invested: $37,800 (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 27215

• Rents YoY: 2.6%
• Active inventory: 312
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,254 high
• Mortgage (P&I): −$708
• Tax from tax record: −$67 /mo · $803/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $159

Break-even live

Break-even rent $1,052

Max offer price $135,000

Occupancy floor 82%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 S Broad St Burlington, NC	2.0	1.0	779	$1,100	$1.41	21d	1	0.28mi
516 Maple Ave Unit B Burlington, NC	1.0	1.0	869	$850	$0.98	21d	1	0.28mi
321 E 5th St Burlington, NC	1.0	1.0	700	$850	$1.21	21d	1	0.29mi
830 Oxford Ln Burlington, NC	3.0	1.5	1137	$1,495	$1.31	13d	1	0.34mi
2076 Legacy Park Trl Burlington, NC	1.0–3.0	1.0–2.0	1025	$1,575	$1.54	21d	22	0.50mi
102-A/B W Summit Ave Unit B Burlington, NC	1.0	1.0	750	$895	$1.19	13d	1	0.60mi
131 Carolina Ave Burlington, NC	2.0	1.0	900	$1,295	$1.44	21d	1	0.64mi
1352 Snow Ct Burlington, NC	3.0	2.0	1250	$1,625	$1.30	13d	1	0.72mi
109 Craig St Unit 109-F Burlington, NC	2.0	1.0	750	$1,095	$1.46	13d	1	0.73mi
1528 S Mebane St Burlington, NC	2.0	1.0–1.5	528	$1,199	$2.27	21d	10	0.79mi
1515 S Mebane St Burlington, NC	1.0–2.0	1.0	727	$1,124	$1.55	13d	6	0.79mi
511 W Davis St Burlington, NC	2.0	2.0	840	$2,395	$2.85	21d	1	0.83mi
411 S Saint John St Burlington, NC	1.0	1.0	700	$1,100	$1.57	21d	1	0.97mi
709 Maryland Ave Burlington, NC	2.0	1.0	786	$1,225	$1.56	21d	1	0.97mi
1016 Grace Ave Burlington, NC	3.0	1.0	994	$1,245	$1.25	21d	1	1.05mi
1907 Trail Five Burlington, NC	3.0	2.0	1100	$1,695	$1.54	21d	1	1.08mi
910 N Main St Unit A Burlington, NC	2.0	2.0	1100	$1,395	$1.27	13d	1	1.12mi
306 N Ireland St Unit 306 Burlington, NC	2.0	1.0	807	$1,250	$1.55	21d	1	1.20mi
1515 Woodland Ave Burlington, NC	3.0	2.0	1101	$1,500	$1.36	13d	1	1.43mi
2008 S Mebane St Burlington, NC	2.0–3.0	1.5–2.0	1121	$1,200	$1.07	21d	1	1.47mi
1128 Ava St Burlington, NC	2.0	1.0	900	$1,200	$1.33	13d	1	1.48mi
2408 Ashton Park Ln Unit 1 Burlington, NC	2.0	2.0	939	$1,250	$1.33	21d	1	1.48mi
2408 Ashton Park Ln Burlington, NC	2.0	2.0	939	$1,195	$1.27	13d	1	1.48mi
2408 Ashton Park Ln Burlington, NC	2.0	2.0	939	$1,195	$1.27	21d	1	1.48mi

Listing history 10 events

1. 2026-03-11
   status Pending Accepting Backup Offers 317-char remark

   Show marketing remark (317 chars)

   Great investment opportunity! This 3-bed, 1-bath home is being sold AS IS and features key upgrades including new windows, updated bath, new HVAC, and new water heater. Well-situated close to downtown Burlington and Burlington City Park, it’s ideal for rental, flip, or long-term hold. Schedule a showing today!

2. 2026-03-11
   status Pending

   Show marketing remark (317 chars)

   Great investment opportunity! This 3-bed, 1-bath home is being sold AS IS and features key upgrades including new windows, updated bath, new HVAC, and new water heater. Well-situated close to downtown Burlington and Burlington City Park, it’s ideal for rental, flip, or long-term hold. Schedule a showing today!

3. 2026-03-05
   status Active 317-char remark

   Show marketing remark (317 chars)

   Great investment opportunity! This 3-bed, 1-bath home is being sold AS IS and features key upgrades including new windows, updated bath, new HVAC, and new water heater. Well-situated close to downtown Burlington and Burlington City Park, it’s ideal for rental, flip, or long-term hold. Schedule a showing today!

4. 2026-03-05
   status Active

   Show marketing remark (317 chars)

   Great investment opportunity! This 3-bed, 1-bath home is being sold AS IS and features key upgrades including new windows, updated bath, new HVAC, and new water heater. Well-situated close to downtown Burlington and Burlington City Park, it’s ideal for rental, flip, or long-term hold. Schedule a showing today!

5. 2026-02-26
   status Pending 317-char remark

   Show marketing remark (317 chars)

   Great investment opportunity! This 3-bed, 1-bath home is being sold AS IS and features key upgrades including new windows, updated bath, new HVAC, and new water heater. Well-situated close to downtown Burlington and Burlington City Park, it’s ideal for rental, flip, or long-term hold. Schedule a showing today!

6. 2026-02-26
   status Pending

   Show marketing remark (317 chars)

   Great investment opportunity! This 3-bed, 1-bath home is being sold AS IS and features key upgrades including new windows, updated bath, new HVAC, and new water heater. Well-situated close to downtown Burlington and Burlington City Park, it’s ideal for rental, flip, or long-term hold. Schedule a showing today!

7. 2026-02-06
   listed $135,000 Active 317-char remark

   Show marketing remark (317 chars)

   Great investment opportunity! This 3-bed, 1-bath home is being sold AS IS and features key upgrades including new windows, updated bath, new HVAC, and new water heater. Well-situated close to downtown Burlington and Burlington City Park, it’s ideal for rental, flip, or long-term hold. Schedule a showing today!

8. 2026-02-06
   listed $135,000 Active

   Show marketing remark (317 chars)

   Great investment opportunity! This 3-bed, 1-bath home is being sold AS IS and features key upgrades including new windows, updated bath, new HVAC, and new water heater. Well-situated close to downtown Burlington and Burlington City Park, it’s ideal for rental, flip, or long-term hold. Schedule a showing today!

9. 2022-05-13
   soldstatus $77,000
10. 1987-04-29
    soldstatus $24,000

ⓘ 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: $803 · $67/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$304/yr (+$25/mo · 37.9%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,045
• − Mortgage interest: −$7,562
• − Property taxes: −$803
• − Insurance: −$675
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$3,927
• Taxable loss: −$329
• Est. tax savings @ 24.0%: +$79
• After-tax cash flow: $1,992/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: 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 — Burlington

• Score: 70/100
• State rank: #123
• US rank: #7396

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burlington, NC
• County: Alamance County · 173,369 people
• City population: 88,508
• Metro: Burlington, NC
• Population (ZIP): 47,102
• Household income: $68,825
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1497.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 20% Hispanic / Latino 10% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 3% Italian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -263.87%
• Current HPI: 224.3392
• Rent YoY: ▲ 2.61%
• 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

Price history

+462.5% since first listed

10 events — show timeline

• 2026-03-11 Pending — Triad MLS
• 2026-03-11 Pending — TMLS
• 2026-03-05 Relisted — Triad MLS
• 2026-03-05 Relisted — TMLS
• 2026-02-26 Pending — Triad MLS
• 2026-02-26 Pending — TMLS
• 2026-02-06 Listed $135,000 TMLS
• 2026-02-06 Listed $135,000 Triad MLS
• 2022-05-13 Sold (Public Records) $77,000 Public Records
• 1987-04-29 Sold (Public Records) $24,000 Public Records

Property tax history

+15.2%/yr

Latest (2025): $803 · +2.6% YoY. Source: county tax records.