5643 Hornaday Rd Unit C · Greensboro, NC 27409

$120,000

2 bd · 1.0 ba · 836 sqft · Condo public records · 42 Days on market

Built 1986

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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).

• Cash flow +17.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• DSCR +5.5/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Newer HVAC and hot water heater. This unit also as a walk in tub/shower unit. These are very expensive and priceless to someone that needs help bathing. Nice location on the first floor in the back of the building. This building is next to the community pool so you never have far to walk. This location is convenient to all kinds of shopping off W Wendover and Bridiford Parkway.

Key facts

• Community pool
• Built 1986
• Listed 42 days

Property features AI

Finance

• Other: Unit located in Charlestowne Square subdivision; Directions: From I-40 exit at 213 for Guilford College Road; left onto Hornaday Rd, then left into the development — follow signs to building 5643. Unit C is on the first floor in the back.
• HOA & community: Community association (Greensboro)

Exterior

• Parking: Assigned parking (no garage)
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Residential stick/site-built condominium; One story; Built in 1986; Existing construction
• Construction: Vinyl siding; Slab foundation
• Exterior features: Community pool; Cable available; Public maintained road

Interior

• Kitchen: Dishwasher; Electric water heater
• Bedrooms: Bedrooms located on the main level
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Heat pump for heating and cooling; Electric heating
• Interior features: Primary bedroom on the main level; Attic with no access
• Laundry & utility: Washer/dryer location not specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.8% in Greensboro — 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 81/100 on livability (#12 in NC, #1,335 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.2%/yr); 77 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $51k; list at $120k implies a 135% gain — meaningful room to come down on a strong offer.

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 $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.19% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.53×
• Total profit: $-15,821
• Equity at exit: $17,892

10-year hold

• IRR: -7.9%
• Equity multiple: 0.55×
• Total profit: $-15,146
• Equity at exit: $10,375

Cash invested: $33,600 (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 27409

• Home prices YoY: -15.3%
• Rents YoY: 1.2%
• Active inventory: 77
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,319 high
• Mortgage (P&I): −$629
• Tax from tax record: −$105 /mo · $1,258/yr
• Insurance: −$50
• HOA est. from 1 same-building comp: −$165
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $92

Break-even live

Break-even rent $1,201

Max offer price $120,000

Occupancy floor 88%

Sensitivity live

Price	-10% $160	-5% $126	+0% $92	+5% $59	+10% $25
Rent	-10% $-12	-5% $40	+0% $92	+5% $145	+10% $197
Rate	-1.0pp $153	-0.5pp $123	base $92	+0.5pp $61	+1.0pp $30

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5661 Hornaday Rd Unit G Greensboro, NC	2.0	1.0	836	$1,195	$1.43	24d	1	0.05mi
5637 Hornaday Rd Unit A Greensboro, NC	2.0	1.0	836	$1,295	$1.55	14d	1	0.06mi
5729 Bramblegate Rd Unit F Greensboro, NC	2.0	2.5	1100	$1,300	$1.18	24d	1	0.17mi
5729 Bramblegate Rd Unit F Greensboro, NC	2.0	2.5	1100	$1,300	$1.18	19d	1	0.17mi
5715 Bramblegate Rd Greensboro, NC	2.0	2.5	1054	$1,245	$1.18	24d	1	0.23mi
6227 Nile Pl Greensboro, NC	1.0–2.0	1.0–2.0	831	$1,365	$1.64	21d	38	1.03mi
407 Guilford College Rd Greensboro, NC	1.0–2.0	1.0–2.0	865	$1,284	$1.48	14d	6	1.04mi
1402 Bridford Pkwy Greensboro, NC	1.0–3.0	1.0–2.0	1047	$1,562	$1.49	19d	13	1.06mi
4750 Piedmont Pkwy Unit 214 Jamestown, NC	1.0	1.0	974	$1,445	$1.48	24d	1	1.10mi
405 Tullow Trl Greensboro, NC	1.0–3.0	1.0–2.0	1174	$1,628	$1.39	14d	10	1.15mi
4480 Platinum Dr Unit 4428-2B Greensboro, NC	1.0	1.5	883	$1,250	$1.42	24d	1	1.40mi
4480 Platinum Dr Unit 4450-1C Greensboro, NC	2.0	2.0	1123	$1,420	$1.26	24d	1	1.40mi
4480 Platinum Dr Unit 4415-2A Greensboro, NC	1.0	1.5	834	$1,225	$1.47	24d	1	1.40mi
4227 Edith Ln Unit A Greensboro, NC	2.0	1.0	938	$1,500	$1.60	14d	1	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-19
   price $120,000 Active 42 DOM
2. 2026-06-18
   days on market $130,000 Active 42 DOM
3. 2026-06-17
   days on market $130,000 Active 41 DOM
4. 2026-06-16
   days on market $130,000 Active 40 DOM
5. 2026-06-15
   days on market $130,000 Active 39 DOM
6. 2026-06-14
   days on market $130,000 Active 37 DOM
7. 2026-06-10
   days on market $130,000 Active 34 DOM
8. 2026-06-09
   days on market $130,000 Active 33 DOM
9. 2026-06-08
   days on market $130,000 Active 32 DOM
10. 2026-06-07
    days on market $130,000 Active 31 DOM
11. 2026-06-03
    days on market $130,000 Active 27 DOM
12. 2026-06-02
    days on market $130,000 Active 26 DOM
13. 2026-06-01
    days on market $130,000 Active 25 DOM
14. 2026-05-31
    days on market $130,000 Active 24 DOM
15. 2026-05-31
    days on market $130,000 Active 23 DOM
16. 2026-05-05
    listed $130,000 Active
17. 2001-02-08
    soldstatus $51,000
18. 1989-09-01
    soldstatus $43,900
19. 1986-02-01
    soldstatus $42,000

ⓘ 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: $1,258 · $105/mo
• Projected year-2 tax: $1,258 · $105/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 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $15,822
• − Mortgage interest: −$6,722
• − Property taxes: −$1,258
• − Insurance: −$600
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − HOA: −$1,980
• − Depreciation: −$3,491
• Taxable loss: −$761
• Est. tax savings @ 24.0%: +$183
• After-tax cash flow: $1,292/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: Guilford County Schools
• NCES district ID: 3701920
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $46,315
• Composite: 35.78/100
• National rank: #4842
• State rank: #99 of 178 in NC

Livability — Greensboro

• Score: 81/100
• State rank: #12
• US rank: #1335

Category grades

Amenities A+ Commute A+ 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: Greensboro, NC
• County: Guilford County · 487,190 people
• City population: 329,421
• Metro: Greensboro-High Point, NC
• Population (ZIP): 17,551
• Household income: $60,281
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 1396.0

Population outlook (Guilford County) Hauer SSP2

• Today (2025): 584,596 people
• By 2030: 616,851 · +5.5%
• By 2040: 678,451 · +16.1%
• By 2050: 734,788 · +25.7%
• By 2075: 862,985 · +47.6%
• By 2100: 948,704 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 41% White 40% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 2% Romanian 1% Slovak 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 85% English-only · Spanish 3% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Guilford

• 2024 margin: Strong D (+21.8) · D 60.2% · R 38.4% · Other 1.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 18.4pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+23.1 2016: D+20.0 2012: D+16.5 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.18%
• Current HPI: 232.6805
• Rent YoY: ▲ 1.19%
• Metro: Greensboro-High Point, 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

+209.5% since first listed

4 events — show timeline

• 2026-05-05 Listed $130,000 Triad MLS
• 2001-02-08 Sold (Public Records) $51,000 Public Records
• 1989-09-01 Sold (Public Records) $43,900 Public Records
• 1986-02-01 Sold (Public Records) $42,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,258 · -1.0% YoY. Source: county tax records.