224 Alberta Dr · Franklinton, NC 27525

$248,990

3 bd · 2.5 ba · 1,603 sqft · Townhouse · 8 Days on market

Built 2026 1,742 sqft lot

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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).

• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Cash flow +5.9/30.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.3/10.0

Listing remarks

Discover the sought-after Litchfield floorplan featuring 3 bedrooms, 2.5 baths, and 1 car garage in Prime Franklinton location. The spacious Family room w/ (9th ceilings opens to the Kitchen w/ Central Island, Upgrade cabinets, SS appliances, eat in Dining & access to Outdoor Patio, Yard & Storage. Large Primary suite w/ walk in closet, sitting area, bathroom w/ dual vanity, Quartz Countertops, & Walk In Tile Shower. LVP Entire 1st Floor, all Baths & Laundry. Located right off Capitol Blvd. and just minutes to downtown Franklinton, this home offers excellent access to shopping, dining, and major commuter routes. A fantastic opportunity in a fast-growing area! * *

Key facts

• Garage
• Built 2026
• Listed 8 days

Property features AI

Finance

• HOA & community: Pindell-Wilson association; One-time association fee of 250.00 (includes grounds maintenance and storm water maintenance)

Exterior

• Parking: Attached garage (1-car); Additional parking and overflow parking areas; Concrete driveway; Garage; Total parking for 20 vehicles
• Utilities: Public water; Public sewer; Natural gas connected; Cable available and connected; Water connected
• Home design: Townhouse; Two levels; New construction; 2+ common walls; Unit 143
• Construction: Vinyl siding; Composition shingle roof; Slab foundation; Building model: Litchfield
• Exterior features: Private yard; Patio; Rain gutters; Wrought iron fencing (back yard)

Interior

• Kitchen: Dishwasher; Electric range; Exhaust fan; Microwave
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Double vanity; Eat-in kitchen; Entrance foyer; Granite counters; Kitchen island; Open floorplan; Pantry; Quartz counters; Smooth ceilings; Storage; Double pane windows; Insulated windows; Window screens
• Laundry & utility: Laundry on upper level

🏗️ New construction. The $248,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $277,319.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $249k.

Deal economics

• At list price, monthly cash flow is $-543 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (20.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (30.2% below list).
• Recommended offer: $174k (30.2% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 3.1% in Franklinton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 61/100 on livability (#491 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Franklin County Schools (rural): math 34% / reading 37% proficiency, ranked #128 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklinton Elementary (math 29% / reading 25%, grade F, #1,033 of 1,410 statewide, top 76%, 522 students, 81% FRL); Franklinton Middle (math 26% / reading 27%, grade F, #381 of 475 statewide, top 81%, 247 students, 78% FRL); Franklinton High (math 57% / reading 60%, grade C, #235 of 535 statewide, top 45%, 1,182 students, 48% FRL).
• Market conditions: 251 active listings in the ZIP; 948 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (8.4% local appreciation)).
• Franklin County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $173,874 (30.2% 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 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 D 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. 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?
6. 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.
7. 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.
8. 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: 0.63% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.39%
• DSCR: 0.63
• GRM: 13.3

CMA / ARV

• ARV (on-the-fly): $277,319
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Blandford St	0.04mi	3/2.5	1,561 (-3%)	8mo	$269,900	$173	87
251 Blandford St	0.09mi	3/2.5	1,696 (+6%)	7mo	$255,000	$150	80

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

Projected returns pro-forma

8.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 2.12×
• Total profit: $87,207
• Equity at exit: $218,685

10-year hold

• IRR: 14.5%
• Equity multiple: 4.60×
• Total profit: $279,256
• Equity at exit: $441,945

Cash invested: $77,649 (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 27525

• Home prices YoY: 3.0%
• Active inventory: 251
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,739 medium
• Mortgage (P&I): −$1,454
• Tax est. 1.5%: −$347 /mo · $4,160/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-543

Break-even live

Break-even rent $2,426

Max offer price $198,763

Occupancy floor —

Sensitivity live

Price	-10% $-351	-5% $-447	+0% $-543	+5% $-639	+10% $-735
Rent	-10% $-680	-5% $-612	+0% $-543	+5% $-474	+10% $-406
Rate	-1.0pp $-403	-0.5pp $-472	base $-543	+0.5pp $-615	+1.0pp $-688

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: $69,330
• Closing costs: $8,320
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $248,990 Active 8 DOM
2. 2026-06-21
   days on market $248,990 Active 7 DOM
3. 2026-06-18
   days on market $248,990 Active 5 DOM
4. 2026-06-17
   days on market $248,990 Active 4 DOM
5. 2026-06-17
   price $248,990 Active 3 DOM
6. 2026-06-16
   days on market $258,725 Active 3 DOM
7. 2026-06-15
   days on market $258,725 Active 2 DOM
8. 2026-06-14
   remarks 683-char remark
9. 2026-06-14
   listed $258,725 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,865
• − Mortgage interest: −$15,534
• − Property taxes: −$4,160
• − Insurance: −$1,387
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − Depreciation: −$8,067
• Taxable loss: −$11,622
• Est. tax savings @ 24.0%: +$2,789
• After-tax cash flow: $-3,725/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: Franklin County Schools
• NCES district ID: 3701530
• Math proficiency: 34% ▬ 0.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $44,630
• Composite: 30.25/100
• National rank: #6286
• State rank: #128 of 178 in NC

Livability — Franklinton

• Score: 61/100
• State rank: #491
• US rank: #18002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklinton, NC
• County: Franklin County · 64,885 people
• City population: 17,110
• Metro: Raleigh-Cary, NC
• Population (ZIP): 17,110
• Household income: $73,036
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 446.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 69,848 people
• By 2030: 72,480 · +3.8%
• By 2040: 76,682 · +9.8%
• By 2050: 78,993 · +13.1%
• By 2075: 82,888 · +18.7%
• By 2100: 80,784 · +15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 24% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Cuban 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Franklin

• 2024 margin: R (+13.6) · D 42.7% · R 56.3%
• 2008→2024 swing: -12.9pp toward R · 2008: -0.7pp · 2024: -13.6pp
• All cycles: 2024: R+13.6 2020: R+13.4 2016: R+11.7 2012: R+4.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.42%
• Current HPI: 294.1531
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-13 Listed $258,725 TMLS