962 Greensboro Street Ext · Lexington, NC 27295

$215,000

3 bd · 2.0 ba · 3,322 sqft · SingleFamily public records · 4 Days on market

Built 1915 0.91 ac 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).

• Cash flow +15.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• 1% rule +3.0/10.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Future redevelopment
• Rental income
• Ra3 land

Tags

• NEARLY 1 ACRE
• 3 SEPARATE LIVING SPACES
• MULTI-GENERATIONAL LIVING
• RENTAL INCOME
• FUTURE REDEVELOPMENT
• RA3 LAND

Property features AI

Finance

• Other: Zoning: RA3
• HOA & community: No HOA

Exterior

• Parking: Detached garage; Driveway; 4 garage spaces; Main level garage
• Utilities: Water: other (see remarks); Sewer: N/A
• Home design: Single-family residence (residential); Site-built construction; Two levels; Main level garage
• Construction: Vinyl exterior; Basement foundation; Basement present
• Exterior features: Lot includes both dirt and paved road frontage; Publicly maintained road

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Interior entry basement; Fireplace
• Laundry & utility: Laundry details — see remarks

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $81 ($977/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 $171k (20.3% below list).
• Recommended offer: $171k (20.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.5% in Lexington — 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 72/100 on livability (#89 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, amenities D-, employment F.
• Lexington City Schools (suburban): math 32% / reading 38% proficiency, ranked #136 of 178 in NC (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pickett Elementary School (math 32% / reading 32%, grade F, #908 of 1,410 statewide, top 67%, 394 students, 99% FRL); Lexington Middle School (math 31% / reading 41%, grade F, #273 of 475 statewide, top 58%, 647 students, 100% FRL); Lexington Senior High School (math 27% / reading 52%, grade F, #393 of 535 statewide, top 75%, 928 students, 99% FRL) — zoned schools average 99% FRL vs 78% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 362 active listings in the ZIP; 990 units permitted in Davidson County in 2024 (54 in 5+ unit buildings).
• This rent runs 32% of the median local income ($64k/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.
• Davidson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $59k; list at $215k implies a 264% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• 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 $171,366 (20.3% below list)

Questions for the listing agent

1. Built in 1915 — 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 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. 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. 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: 0.80% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-29,117
• Equity at exit: $32,057

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-16,457
• Equity at exit: $18,589

Cash invested: $60,200 (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 27295

• Home prices YoY: -15.2%
• Rents YoY: 3.4%
• Active inventory: 362
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,714 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$55 /mo · $663/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $81

Break-even live

Break-even rent $1,611

Max offer price $215,000

Occupancy floor 90%

Sensitivity live

Price	-10% $203	-5% $142	+0% $81	+5% $21	+10% $-40
Rent	-10% $-54	-5% $14	+0% $81	+5% $149	+10% $217
Rate	-1.0pp $190	-0.5pp $136	base $81	+0.5pp $26	+1.0pp $-31

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $215,000 Active 4 DOM
2. 2026-06-18
   status $215,000 Active 1 DOM
3. 2026-06-17
   listed $215,000 Coming Soon 1 DOM

ⓘ 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: $663 · $55/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$1,100/yr (+$92/mo · 165.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $20,564
• − Mortgage interest: −$12,043
• − Property taxes: −$663
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,645
• − Management: −$1,645
• − Depreciation: −$6,255
• Taxable loss: −$2,763
• Est. tax savings @ 24.0%: +$663
• After-tax cash flow: $1,640/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: Lexington City Schools
• NCES district ID: 3702640
• Math proficiency: 32% ▲ 3.00%
• Reading proficiency: 38% ▲ 6.00%
• Median HH income: $27,758
• Composite: 28.2/100
• National rank: #6807
• State rank: #136 of 178 in NC

Livability — Lexington

• Score: 72/100
• State rank: #89
• US rank: #6051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Davidson County · 129,088 people
• City population: 79,578
• Metro: Winston-Salem, NC
• Population (ZIP): 39,267
• Household income: $63,961
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 733.0

Population outlook (Davidson County) Hauer SSP2

• Today (2025): 167,156 people
• By 2030: 167,216 · +0.0%
• By 2040: 164,524 · -1.6%
• By 2050: 157,229 · -5.9%
• By 2075: 138,084 · -17.4%
• By 2100: 112,729 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 6% Black 6% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Slovak 2% Italian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Davidson

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.1%
• 2008→2024 swing: -13.5pp toward R · 2008: -33.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+47.5 2016: R+49.4 2012: R+40.9 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.39%
• Current HPI: 258.6557
• Rent YoY: ▲ 3.37%
• Metro: Winston-Salem, 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

+264.4% since first listed

2 events — show timeline

• 2026-06-17 Coming Soon $215,000 CANOPYMLS as Distributed by MLS Grid
• 1990-03-01 Sold (Public Records) $59,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $663 · +0.0% YoY. Source: county tax records.