1605 Oak St · Greensboro, NC 27403

$119,000

2 bd · 1.0 ba · 754 sqft · SingleFamily public records · 3 Days on market

Built 1945 5,227 sqft lot Est $141k · 16% 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 +24.0/30.0
• ARV discount +14.5/15.0
• DSCR +7.7/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity Knocks! Whether you're an investor, flipper, or buyer looking to build equity, this charming bungalow deserves a look. Featuring original hardwood floors, a fully fenced backyard, and a large entertaining deck, this home already has key improvements in place, including a 2025 Trane heat pump and a 2-year-old roof. Bring your vision to the kitchen and bathroom, and unlock the property's full potential. Ideally situated near the University of North Carolina at Greensboro, the First Horizon Coliseum, shopping, dining, and a variety of attractions. Refrigerator stays. See agent notes.

Key facts

• 2 year old roof
• 2025 trane heat pump
• 5,227 sq ft lot

Tags

• ORIGINAL HARDWOOD FLOORS
• FULLY FENCED BACKYARD
• LARGE ENTERTAINING DECK
• 2025 TRANE HEAT PUMP
• 2 YEAR OLD ROOF

Property features AI

Finance

• Other: Publicly maintained road access; Directions: S. Josephine Boyd to Oak, towards Coliseum, house is on the left
• HOA & community: No homeowners association; Subdivision: Piedmont Heights

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Residential stick/site-built house; One story; Built in 1945; Existing structure
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Fenced yard; City lot

Interior

• Kitchen: Free-standing range; Exhaust fan
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating with electric heat pump
• Interior features: Primary bedroom located on the main level; Pulldown attic stairs; Storm doors; Insulated windows; Ceiling fans; Deadbolt locks
• Laundry & utility: Washer hookup; Dryer connection; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Cap rate 8.6% 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 (+2.8%/yr); 67 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $823 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $66k; list at $119k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,000

Questions for the listing agent

1. Built in 1945 — 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. 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?
4. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.37%
• DSCR: 1.37
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $140,998
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1114 Mccormick St	0.30mi	2/1.0	757 (+0%)	9mo	$155,000	$205	78
1516 Marion St	0.06mi	2/1.0	706 (-6%)	14mo	$160,000	$227	75
1012 Neal St	0.27mi	2/1.0	790 (+5%)	8mo	$169,900	$215	72
1014 Mccormick St	0.33mi	2/1.0	809 (+7%)	12mo	$150,000	$185	62
1508 Lovett St	0.26mi	3/1.0 (+1)	816 (+8%)	9mo	$120,000	$147	61
1109 Neal St	0.27mi	2/1.0	718 (-5%)	23mo	$128,000	$178	60
911 Barringer St	0.60mi	2/1.0	720 (-4%)	8mo	$140,000	$194	58
2101 Maywood St	0.51mi	2/1.0	798 (+6%)	11mo	$149,000	$187	57
1813 Ontario St	0.65mi	2/1.0	710 (-6%)	5mo	$81,200	$114	56
1014 Lexington Ave	0.46mi	2/1.0	857 (+14%)	10mo	$135,000	$158	47

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 · 2.75% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.86×
• Total profit: $-4,822
• Equity at exit: $17,743

10-year hold

• IRR: 5.5%
• Equity multiple: 1.40×
• Total profit: $13,467
• Equity at exit: $10,289

Cash invested: $33,320 (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 27403

• Rents YoY: 2.8%
• Active inventory: 67
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,226 high
• Mortgage (P&I): −$624
• Tax from tax record: −$62 /mo · $747/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $232

Break-even live

Break-even rent $932

Max offer price $119,000

Occupancy floor 76%

Sensitivity live

Price	-10% $300	-5% $266	+0% $232	+5% $199	+10% $165
Rent	-10% $136	-5% $184	+0% $232	+5% $281	+10% $329
Rate	-1.0pp $292	-0.5pp $263	base $232	+0.5pp $202	+1.0pp $170

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1401 Oak St Greensboro, NC	2.0	1.0	690	$1,300	$1.88	24d	1	0.20mi
2023 Maywood St Unit A Greensboro, NC	2.0	1.0	800	$1,250	$1.56	24d	1	0.42mi
2202 Maywood St Greensboro, NC	3.0	1.0	960	$1,250	$1.30	15d	1	0.55mi
2212 Coliseum Blvd Greensboro, NC	3.0	2.0	1044	$1,750	$1.68	15d	1	0.59mi
1636 Willomore St Greensboro, NC	2.0	1.0	1070	$1,330	$1.24	15d	1	0.61mi
920 Highland Ave Greensboro, NC	2.0	2.0	890	$1,235	$1.39	15d	1	0.61mi
1630 Spring Garden St Unit 1630-C Greensboro, NC	2.0	1.5	1080	$1,300	$1.20	24d	1	0.65mi
1620 Spring Garden St Greensboro, NC	2.0	1.0	1080	$1,300	$1.20	24d	1	0.66mi
1915 Spring Garden St Greensboro, NC	2.0–3.0	2.0–3.0	786	$695	$0.88	15d	32	0.69mi
826 W Terrell St Greensboro, NC	3.0	1.0	1084	$1,750	$1.61	24d	1	0.73mi
2003 Spring Garden St Greensboro, NC	1.0	1.0	600	$995	$1.66	24d	1	0.75mi
815 Dana Pl Unit C Greensboro, NC	2.0	1.0	780	$1,100	$1.41	24d	1	0.77mi
803 Holliday Dr Greensboro, NC	2.0	2.0	1300	$1,680	$1.29	15d	18	0.77mi
811 Dana Pl Greensboro, NC	3.0	1.0	950	$1,250	$1.32	24d	1	0.78mi
1808 Willomore St Greensboro, NC	2.0	1.0	850	$950	$1.12	24d	2	0.86mi
1827 Willomore St Greensboro, NC	2.0	1.0	850	$925	$1.09	24d	1	0.87mi
1820 McCormick St Unit H Greensboro, NC	2.0	1.0	850	$925	$1.09	15d	1	0.89mi
1813 Walker Ave Apt D Greensboro, NC	2.0	1.0	775	$950	$1.23	24d	1	0.93mi
1911 Walker Ave Unit D Greensboro, NC	2.0	2.0	865	$1,249	$1.44	24d	1	0.94mi
1710 Walker Ave Unit A Greensboro, NC	2.0	1.0	900	$1,150	$1.28	24d	1	0.96mi
1915 Walker Ave Greensboro, NC	2.0	1.0	1095	$1,049	$0.96	24d	1	0.96mi
720 S Elam Ave Greensboro, NC	2.0	1.0	642	$1,100	$1.71	15d	1	0.97mi
720 S Elam Ave Greensboro, NC	2.0	1.0	642	$1,100	$1.71	20d	1	0.97mi
906 Howard St Apt E Greensboro, NC	3.0	2.0	1080	$1,299	$1.20	22d	1	1.07mi
500 Savannah St Greensboro, NC	2.0	1.0–1.5	769	$1,295	$1.68	20d	8	1.09mi
2003 Urban Dr Greensboro, NC	3.0	1.5	1107	$1,495	$1.35	22d	1	1.12mi
516 S Mendenhall St Unit 512-G Greensboro, NC	2.0	1.0	812	$1,299	$1.60	15d	1	1.17mi
2529 Spring Garden St Unit A1 Greensboro, NC	1.0	1.0	600	$950	$1.58	24d	1	1.17mi
317 Craig St Greensboro, NC	2.0	1.0	1027	$1,275	$1.24	15d	1	1.22mi
2904 W Florida St Greensboro, NC	1.0–2.0	1.0–1.5	746	$1,095	$1.47	22d	3	1.22mi
801 W McGee St #25 Greensboro, NC	2.0	2.0	960	$1,550	$1.61	22d	1	1.44mi
2305 Vanstory St Unit 2305-A Greensboro, NC	2.0	1.5	1050	$1,150	$1.10	20d	1	1.49mi

Listing history 5 events

1. 2026-06-17
   status $119,000 Pending 3 DOM
2. 2026-06-17
   days on market $119,000 Active 3 DOM
3. 2026-06-16
   days on market $119,000 Active 2 DOM
4. 2026-06-15
   remarks 599-char remark
5. 2026-06-15
   listed $119,000 Active 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: $747 · $62/mo
• Projected year-2 tax: $976 · $81/mo
• Expected delta: +$229/yr (+$19/mo · 30.6%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,709
• − Mortgage interest: −$6,666
• − Property taxes: −$747
• − Insurance: −$595
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$3,462
• Taxable income: $886
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $2,577/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): 22,557
• Household income: $57,917
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 1047.0

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 0.65)
• Race & ethnicity: White 52% Black 25% Hispanic / Latino 14% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Vietnam, Jamaica
• Languages at home: 86% English-only · Spanish 8% Other Indo-European 2% Other Asian/Pacific 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: ▼ -215.63%
• Current HPI: 222.3145
• Rent YoY: ▲ 2.75%
• 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

+357.7% since first listed

5 events — show timeline

• 2026-06-14 Listed $119,000 Triad MLS
• 2004-08-19 Sold (Public Records) $66,000 Public Records
• 2002-05-08 Sold (Public Records) $38,500 Public Records
• 1987-06-01 Sold (Public Records) $36,500 Public Records
• 1983-03-01 Sold (Public Records) $26,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $747 · -1.0% YoY. Source: county tax records.