2004 Saddlegate Ct · Greensboro, NC 27407

$189,000

3 bd · 2.0 ba · 1,328 sqft · Townhouse public records · 82 Days on market

Built 1987 2,614 sqft lot Est $246k · 23% under $294/mo HOA · 16% 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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

With a recent price reduction, this one-level well maintained home is now an even more attractive option for buyers looking to maximize their investment in today's market. This home offers the perfect blend of privacy and everyday functionality. Step inside to discover an open floorplan where the kitchen flows seamlessly into the main living areas, creating the perfect setting for family gatherings, holiday celebrations, or casual evenings at home. Three generous bedrooms provide comfortable retreats, while the outdoor space offers endless possibilities for enjoying North Carolina's beautiful seasons. Conveniently located near shopping, dining, parks, major highways, and everything Greensbo

Key facts

• Private deck
• Walk-in closet
• Gas fireplace

Tags

• ONE LEVEL LIVING
• GAS FIREPLACE
• PRIVATE DECK
• ENSUITE BATH
• WALK-IN CLOSET
• ASSIGNED PARKING

Property features AI

Finance

• Other: Not a senior community
• HOA & community: HOA membership required; Quarterly HOA fee of $79.86; Monthly HOA fee of $267.75; HOA covers grounds maintenance, pest control, and road maintenance

Exterior

• Parking: Two parking spaces (two assigned spaces in front of each unit; spaces are labeled with unit number)
• Utilities: Public water; Public sewer
• Home design: Townhouse; One-story
• Construction: Brick veneer exterior; Shingle roof; Site-built construction; Built with a crawl space foundation
• Exterior features: Private maintained road; Lot zoned Cu-Pdr-Planned Development

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas log fireplace in the living room; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $189k.

Deal economics

• At list price, monthly cash flow is $-41 ($-491/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (2.1% below list).
• Recommended offer: $178k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 3.7% 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.
• Zoned schools: Pilot Elementary (math 45% / reading 49%, grade D-, #497 of 1,410 statewide, top 38%, 593 students, 70% FRL); Jamestown Middle (math 26% / reading 42%, grade F, #294 of 475 statewide, top 63%, 940 students, 69% FRL); Lucy Ragsdale High (math 45% / reading 58%, grade D+, #299 of 535 statewide, top 56%, 1,346 students, 61% FRL).
• Market conditions: Rents rising (+3.5%/yr); 223 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).
• This rent runs 37% of the median local income ($59k/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.
• 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 82 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; list at $189k implies a 57% 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 $177,660 (6.0% 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. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.98% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $245,680
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5116 Autumncrest Dr	0.03mi	2/2.5 (-1)	1,364 (+3%)	2mo	$219,000	$161	85
28 Cedar Knoll Dr	0.20mi	2/2.5 (-1)	1,247 (-6%)	6mo	$232,000	$186	68
10 Cedar Knoll Ct	0.19mi	2/2.0 (-1)	1,219 (-8%)	11mo	$225,000	$185	63
2054 Hearthwood Ct	0.07mi	2/2.0 (-1)	1,128 (-15%)	5mo	$212,000	$188	62
11 Cedar Knoll Dr	0.16mi	2/2.0 (-1)	1,216 (-8%)	14mo	$225,000	$185	62

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 · 3.5% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.39×
• Total profit: $-32,148
• Equity at exit: $28,181

10-year hold

• IRR: -7.8%
• Equity multiple: 0.49×
• Total profit: $-26,868
• Equity at exit: $16,341

Cash invested: $52,920 (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 27407

• Rents YoY: 3.5%
• Active inventory: 223
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$991
• Tax from tax record: −$139 /mo · $1,663/yr
• Insurance: −$79
• HOA: −$294
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-41

Break-even live

Break-even rent $1,902

Max offer price $181,773

Occupancy floor 97%

Sensitivity live

Price	-10% $66	-5% $13	+0% $-41	+5% $-94	+10% $-148
Rent	-10% $-187	-5% $-114	+0% $-41	+5% $32	+10% $105
Rate	-1.0pp $54	-0.5pp $7	base $-41	+0.5pp $-90	+1.0pp $-140

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2010 Hearthwood Ct Greensboro, NC	2.0	2.5	1332	$2,000	$1.50	16d	1	0.15mi
5202 Fox Hunt Dr Greensboro, NC	1.0–3.0	1.0–2.0	1101	$1,946	$1.77	16d	49	0.29mi
5626 Atwater Rd Greensboro, NC	3.0	2.0	1100	$1,170	$1.06	20d	1	0.39mi
5609 Wellsley Dr W Greensboro, NC	3.0	2.0	1448	$1,825	$1.26	25d	1	0.71mi
3900 Hunt Chase Ct Greensboro, NC	3.0	2.5	1584	$2,400	$1.52	20d	1	0.86mi
2988 Butterwood Dr Jamestown, NC	3.0	2.0	1300	$1,795	$1.38	16d	1	0.86mi
4008 Beckton Trl Jamestown, NC	3.0	2.5	1604	$2,050	$1.28	16d	1	0.86mi
4026 Beckton Trl Jamestown, NC	3.0	2.5	1742	$1,799	$1.03	25d	1	0.91mi
4058 Beckton Trl Jamestown, NC	3.0	3.0	1558	$2,150	$1.38	25d	1	0.95mi
32 Pitlockry Pl Greensboro, NC	2.0	2.0	1578	$2,500	$1.58	25d	1	1.02mi
5 Sedgelane Ct Greensboro, NC	3.0	2.0	1565	$1,920	$1.23	16d	1	1.20mi
6004 Grandover Village Rd Greensboro, NC	1.0–2.0	1.0–2.0	1049	$2,384	$2.27	16d	20	1.21mi
1338 Adams Farm Pkwy Greensboro, NC	1.0–3.0	1.0–2.0	1124	$1,755	$1.56	16d	23	1.27mi
5269 Hilltop Rd Greensboro, NC	1.0–3.0	1.0–2.0	1014	$1,648	$1.62	16d	28	1.33mi
2606 Pennoak Way Greensboro, NC	2.0	2.0	1190	$1,322	$1.11	25d	2	1.40mi
4702 Pennoak Ln Greensboro, NC	2.0	2.0	1188	$1,100	$0.93	20d	1	1.46mi

HOA detail

• Monthly dues: $294 · $3,528/yr

Listing history 18 events

1. 2026-06-22
   days on market $189,000 Active 82 DOM
2. 2026-06-18
   days on market $189,000 Active 79 DOM
3. 2026-06-17
   price $189,000 Active 78 DOM
4. 2026-06-17
   days on market $199,000 Active 78 DOM
5. 2026-06-16
   days on market $199,000 Active 77 DOM
6. 2026-06-15
   days on market $199,000 Active 76 DOM
7. 2026-06-14
   days on market $199,000 Active 74 DOM
8. 2026-06-10
   days on market $199,000 Active 71 DOM
9. 2026-06-09
   days on market $199,000 Active 70 DOM
10. 2026-06-08
    days on market $199,000 Active 69 DOM
11. 2026-06-07
    statusdays on market $199,000 Active 68 DOM
12. 2026-05-08
    status Pending
13. 2026-04-11
    price $199,000
14. 2026-04-11
    price $199,000
15. 2026-02-27
    listed $200,000 Active
16. 2018-09-28
    soldstatus $120,000
17. 1987-12-01
    soldstatus $78,000
18. 1987-07-01
    soldstatus $71,500

ⓘ 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: $1,663 · $139/mo
• Projected year-2 tax: $1,663 · $139/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 14% 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: $22,200
• − Mortgage interest: −$10,587
• − Property taxes: −$1,663
• − Insurance: −$945
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − HOA: −$3,528
• − Depreciation: −$5,498
• Taxable loss: −$3,572
• Est. tax savings @ 24.0%: +$857
• After-tax cash flow: $366/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): 51,697
• Household income: $59,427
• Rent vs Own: 51.4% rent · 48.6% own
• Severe rent burden: 2360.0

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 0.70)
• Race & ethnicity: Black 42% White 32% Asian 11% Hispanic / Latino 11% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Ukrainian 2% Slovak 1% Serbian 1%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 73% English-only · Spanish 9% Arabic 4% Vietnamese 4%

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: ▼ -138.48%
• Current HPI: 223.3145
• Rent YoY: ▲ 3.50%
• 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

+178.3% since first listed

7 events — show timeline

• 2026-05-08 Pending — TMLS
• 2026-04-11 Price Changed $199,000 Triad MLS
• 2026-04-11 Price Changed $199,000 TMLS
• 2026-02-27 Listed $200,000 TMLS
• 2018-09-28 Sold (Public Records) $120,000 Public Records
• 1987-12-01 Sold (Public Records) $78,000 Public Records
• 1987-07-01 Sold (Public Records) $71,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,663 · -1.0% YoY. Source: county tax records.