831 Dalewood Dr · Raleigh, NC 27610

$192,999

3 bd · 1.5 ba · 1,110 sqft · Townhouse public records · 28 Days on market

Built 1993 1,307 sqft lot Est $200k · at est. $170/mo HOA · 10% of rent

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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 +13.0/30.0
• ARV discount +9.0/15.0
• Schools +4.9/10.0
• 1% rule +4.2/10.0
• Livability +4.2/5.0
• DSCR +3.9/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 831 Dalewood Dr -- a beautifully maintained 3-bedroom, 2-bath townhome offering the ideal combination of comfort, convenience, and value in one of Raleigh's most accessible locations. Fresh interior paint throughout enhances the home's bright, airy feel, creating a truly move-in ready opportunity. Inside, you'll find a light-filled living space with large windows that bring in abundant natural light and create a warm, inviting atmosphere perfect for both everyday living and entertaining. The open-concept layout flows seamlessly into the dining area and spacious kitchen, where granite countertops, ample cabinetry, and functional workspace make cooking and gathering effortless. Cei

Key facts

• Large windows
• Ample cabinetry
• Fresh interior paint

Tags

• FRESH INTERIOR PAINT
• LIGHT FILLED LIVING SPACE
• LARGE WINDOWS
• OPEN CONCEPT LAYOUT
• GRANITE COUNTERTOPS
• AMPLE CABINETRY

Property features AI

Finance

• Other: Zoning: R-6
• HOA & community: HOA (Park Glen HOA) with monthly fee; HOA fee covers grounds maintenance

Exterior

• Parking: 2 open assigned parking spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Townhouse; Two levels; Entry facing unspecified direction
• Construction: HardiPlank and Masonite siding; Shingle roof; Slab foundation; Built as a townhouse
• Exterior features: Public maintained road

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Ceiling fans; Granite counters

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $193k.

Deal economics

• At list price, monthly cash flow is $-10 ($-120/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (7.9% below list).
• Recommended offer: $178k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.7% in Raleigh — 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 83/100 on livability (#10 in NC, #1,028 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime 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.
• Zoned schools: Leesville Road Elementary (math 68% / reading 66%, grade B+, #120 of 1,410 statewide, top 9%, 603 students, 30% FRL); Leesville Road Middle (math 59% / reading 57%, grade B, #59 of 475 statewide, top 13%, 791 students, 37% FRL); Leesville Road High (math 72% / reading 67%, grade B, #121 of 535 statewide, top 24%, 2,613 students, 22% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: Rents flat; 594 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).
• This rent runs 31% of the median local income ($68k/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.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 2 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 $50k; list at $193k implies a 286% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,661 (7.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 0.92% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $199,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
861 Dalewood Dr	0.07mi	2/1.5 (-1)	1,047 (-6%)	13mo	$188,000	$180	71
859 Dalewood Dr	0.06mi	2/1.5 (-1)	1,024 (-8%)	15mo	$193,000	$188	66
1341 Park Glen Dr #204	0.17mi	2/2.0 (-1)	1,012 (-9%)	9mo	$130,000	$128	63

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 · 0.2% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.32×
• Total profit: $-36,702
• Equity at exit: $28,777

10-year hold

• IRR: -21.1%
• Equity multiple: 0.05×
• Total profit: $-51,360
• Equity at exit: $16,687

Cash invested: $54,040 (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 27610

• Rents YoY: 0.2%
• Active inventory: 594
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,777 high
• Mortgage (P&I): −$1,012
• Tax from tax record: −$151 /mo · $1,812/yr
• Insurance: −$80
• HOA: −$170
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-10

Break-even live

Break-even rent $1,789

Max offer price $191,239

Occupancy floor 96%

Sensitivity live

Price	-10% $99	-5% $45	+0% $-10	+5% $-65	+10% $-119
Rent	-10% $-150	-5% $-80	+0% $-10	+5% $60	+10% $130
Rate	-1.0pp $87	-0.5pp $39	base $-10	+0.5pp $-60	+1.0pp $-111

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: $48,250
• Closing costs: $5,790
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
817 Dalewood Dr Raleigh, NC	3.0	2.0	1110	$1,595	$1.44	16d	1	0.03mi
1330 Park Glen Dr #104 Raleigh, NC	2.0	2.0	1012	$1,295	$1.28	19d	1	0.12mi
1950 N Raleigh Blvd Unit C Raleigh, NC	2.0	2.0	1050	$1,249	$1.19	22d	1	0.17mi
1341 Park Glen Dr #101 Raleigh, NC	2.0	2.0	912	$1,250	$1.37	25d	1	0.17mi
530 Banks St Raleigh, NC	3.0	1.5	1241	$2,399	$1.93	25d	1	0.26mi
1129 Marlborough Rd Raleigh, NC	3.0	2.0	1101	$2,050	$1.86	25d	1	0.37mi
2110 Birkhall St Raleigh, NC	2.0	1.0–2.0	929	$2,200	$2.37	3d	93	0.39mi
2317 Glascock St Raleigh, NC	2.0	1.0	820	$1,395	$1.70	25d	1	0.50mi
2200 Glascock St Apt G Raleigh, NC	2.0	1.5	1100	$1,200	$1.09	25d	1	0.55mi
2325 K Wesley Way Raleigh, NC	3.0	2.0	1136	$2,099	$1.85	4d	1	0.66mi
1805 Bennett St Raleigh, NC	2.0	1.0	1200	$2,300	$1.92	25d	1	0.69mi
712 Hartford Rd Raleigh, NC	2.0	1.0	900	$1,450	$1.61	5d	1	0.72mi
2080 Brentmoor Dr Raleigh, NC	2.0	2.0	1055	$1,625	$1.54	23d	1	0.77mi
1806 Midwood Dr Apt C Raleigh, NC	2.0	1.0	950	$1,550	$1.63	23d	1	0.78mi
1806 Midwood Dr Apt D Raleigh, NC	2.0	1.0	950	$1,475	$1.55	23d	1	0.78mi
1806 Midwood Dr Raleigh, NC	2.0	1.0	950	$1,550	$1.63	5d	1	0.78mi
2221 Iron Works Dr Raleigh, NC	2.0	1.0–2.0	800	$2,572	$3.21	4d	10	0.99mi
2221 Iron Works Dr Raleigh, NC	2.0	1.0–2.0	803	$2,967	$3.69	5d	30	0.99mi
900 Canenaugh Dr #108 Raleigh, NC	2.0	2.0	1000	$1,550	$1.55	19d	1	1.16mi
460 Dickens Dr Raleigh, NC	3.0	2.0	1422	$1,950	$1.37	12d	1	1.21mi
212 N Peartree Ln Raleigh, NC	3.0	1.5	1379	$1,545	$1.12	22d	1	1.27mi
2621 Oldgate Dr Raleigh, NC	2.0	2.0	1177	$1,595	$1.36	25d	1	1.28mi
2305 Hill St Raleigh, NC	2.0	2.0	1035	$1,550	$1.50	25d	1	1.30mi
2421 Hill St Raleigh, NC	3.0	2.0	1033	$1,700	$1.65	12d	1	1.35mi
2404 Hill St Raleigh, NC	3.0	2.0	1033	$1,700	$1.65	12d	1	1.36mi
2922 Glenridge Dr Raleigh, NC	2.0	1.5	1104	$1,450	$1.31	25d	1	1.38mi
2922 Glenridge Dr Unit A Raleigh, NC	2.0	1.5	1104	$1,450	$1.31	21d	1	1.38mi
2911 Mid-Century Dr Raleigh, NC	3.0	1.0–2.0	1038	$2,319	$2.23	3d	37	1.39mi
3211 Pridwen Cir Raleigh, NC	1.0–3.0	1.0–2.0	1103	$1,594	$1.45	3d	17	1.41mi
2934 Glenridge Dr Raleigh, NC	3.0	1.5	1023	$2,000	$1.96	14d	1	1.43mi
305 N State St Raleigh, NC	2.0	1.0	816	$1,350	$1.65	14d	1	1.49mi
1309 E Jones St Unit 1309 Raleigh, NC	2.0	1.0	1200	$1,395	$1.16	25d	1	1.50mi

HOA detail

• Monthly dues: $170 · $2,040/yr

Listing history 21 events

1. 2026-06-19
   status $192,999 Pending 28 DOM
2. 2026-06-18
   days on market $192,999 Active 28 DOM
3. 2026-06-17
   days on market $192,999 Active 27 DOM
4. 2026-06-16
   days on market $192,999 Active 26 DOM
5. 2026-06-15
   days on market $192,999 Active 25 DOM
6. 2026-06-13
   days on market $192,999 Active 23 DOM
7. 2026-06-13
   days on market $192,999 Active 22 DOM
8. 2026-06-09
   days on market $192,999 Active 19 DOM
9. 2026-06-08
   days on market $192,999 Active 18 DOM
10. 2026-06-07
    days on market $192,999 Active 17 DOM
11. 2026-06-05
    days on market $192,999 Active 14 DOM
12. 2026-06-03
    days on market $192,999 Active 13 DOM
13. 2026-06-02
    days on market $192,999 Active 12 DOM
14. 2026-06-01
    days on market $192,999 Active 11 DOM
15. 2026-05-31
    days on market $192,999 Active 10 DOM
16. 2026-05-21
    listed $192,999 Active
17. 2026-05-20
    historical
18. 2026-03-27
    price $192,999
19. 2026-03-13
    listed $214,900 Active
20. 2013-11-06
    soldstatus $50,000
21. 1993-04-27
    soldstatus $56,500

ⓘ 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: $1,812 · $151/mo
• Projected year-2 tax: $1,812 · $151/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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,319
• − Mortgage interest: −$10,811
• − Property taxes: −$1,812
• − Insurance: −$965
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − HOA: −$2,040
• − Depreciation: −$5,615
• Taxable loss: −$3,334
• Est. tax savings @ 24.0%: +$800
• After-tax cash flow: $681/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 — Raleigh

• Score: 83/100
• State rank: #10
• US rank: #1028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raleigh, NC
• County: Wake County · 1,216,256 people
• City population: 569,344
• Metro: Raleigh-Cary, NC
• Population (ZIP): 81,419
• Household income: $67,932
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 3499.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 59% Hispanic / Latino 20% White 15% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1% Dominican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 14% · Canada
• Languages at home: 77% English-only · Spanish 18% Arabic 1% French/Haitian/Cajun 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: ▼ -131.88%
• Current HPI: 237.704
• Rent YoY: ▲ 0.20%
• 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

+241.6% since first listed

6 events — show timeline

• 2026-05-21 Listed $192,999 TMLS
• 2026-05-20 Listing Removed — TMLS
• 2026-03-27 Price Changed $192,999 TMLS
• 2026-03-13 Listed $214,900 TMLS
• 2013-11-06 Sold (Public Records) $50,000 Public Records
• 1993-04-27 Sold (Public Records) $56,500 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,812 · +0.4% YoY. Source: county tax records.