2121 Ruffin St · Durham, NC 27704

$199,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 11 Days on market

Built 1951 6,098 sqft lot Est $331k · 40% 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 +15.1/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +3.1/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on Market/Buyer lost job! Classic Brick Ranch w/ complete new Kitchen, Bath, Carpet, Paint, Light Fixtures, Range/Oven, Landscaping & Driveway all in '09. New HVAC/Ducts in '05. Hwds under Carpet. Duke, Durham Regional, Elementary and Middle Schools, Mall, Northgate Park & Dog Park are within walking distance or just minutes away. $8,000 Tax Credit ends 11/30/2009-HURRY!!

Key facts

• Newer roof
• Driveway at rear
• Solid pine doors

Tags

• CORNER LOT
• DRIVEWAY AT REAR
• NEWER ROOF
• OAK FLOORS
• SOLID PINE DOORS
• UPDATED ELECTRICAL SYSTEM

Property features AI

Finance

• Other: Zoned R-5; Lot approximately 0.14 acres; Publicly maintained road
• HOA & community: No association

Exterior

• Parking: 3 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story house; Faces south
• Construction: Brick construction; Brick/mortar foundation; Architectural shingle roof; Built as a house (structure type)
• Exterior features: Fenced backyard; Private entrance

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Gas pack heating; Central air conditioning; Ceiling fans; Electric cooling; Gas pack cooling
• Interior features: Living/dining room combination; Has crawl space basement
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $66 ($796/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 $177k (11.2% below list).
• Recommended offer: $177k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.0% in Durham — 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 (#15 in NC, #1,411 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Durham Public Schools (urban): math 29% / reading 39% proficiency, ranked #132 of 178 in NC (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Holt Elementary (math 10% / reading 26%, grade F, #1,280 of 1,410 statewide, top 91%, 636 students, 83% FRL); Brogden Middle (math 17% / reading 23%, grade F, #429 of 475 statewide, top 91%, 742 students, 100% FRL); Riverside High (math 49% / reading 42%, grade D-, #347 of 535 statewide, top 65%, 1,812 students, 51% FRL) — zoned schools average 78% FRL vs 58% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 400 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,905 units permitted in Durham County in 2024 (955 in 5+ unit buildings).
• This rent runs 30% of the median local income ($70k/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.
• Durham County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 22y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $133k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,766 (11.2% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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.
6. 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.
7. 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: 0.89% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.43%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $331,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2121 Ruffin St	0.00mi	3/1.0	980 (0%)	1mo	$184,000	$188	99
416 Gresham Ave	0.23mi	3/1.0	1,080 (+10%)	6mo	$365,000	$338	67
2706 Farthing St	0.57mi	2/1.5 (-1)	980 (0%)	2mo	$340,000	$347	65
312 Greenwood Dr	0.31mi	2/1.0 (-1)	892 (-9%)	3mo	$350,000	$392	63
109 Davidson Ave	0.71mi	2/1.0 (-1)	957 (-2%)	1mo	$290,000	$303	58
2512 Highland Ave	0.66mi	3/1.0	930 (-5%)	4mo	$247,000	$266	57
308 Greenwood Dr	0.33mi	3/1.0	1,119 (+14%)	8mo	$395,000	$353	54
2712 Elgin St	0.42mi	3/2.0	1,104 (+13%)	6mo	$420,000	$380	51
1214 W Murray Ave	0.59mi	2/1.0 (-1)	893 (-9%)	3mo	$247,000	$277	50
1209 W Murray Ave	0.54mi	3/1.5	1,088 (+11%)	7mo	$250,000	$230	48
106 W Edgewood Dr	0.55mi	2/1.0 (-1)	862 (-12%)	6mo	$340,000	$394	44
1423 Hudson Ave	0.74mi	2/1.0 (-1)	1,115 (+14%)	3mo	$285,000	$256	35

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 · 2.58% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-28,764
• Equity at exit: $29,672

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-22,636
• Equity at exit: $17,206

Cash invested: $55,720 (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 27704

• Rents YoY: 2.6%
• Active inventory: 400
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,768 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$204 /mo · $2,443/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $66

Break-even live

Break-even rent $1,684

Max offer price $199,000

Occupancy floor 91%

Sensitivity live

Price	-10% $179	-5% $123	+0% $66	+5% $10	+10% $-46
Rent	-10% $-73	-5% $-3	+0% $66	+5% $136	+10% $206
Rate	-1.0pp $167	-0.5pp $117	base $66	+0.5pp $15	+1.0pp $-38

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 Ruby St Durham, NC	2.0	1.0–2.0	600	$1,300	$2.17	15d	3	0.35mi
1306 Leon St Durham, NC	1.0–3.0	1.0–2.0	850	$1,675	$1.97	25d	1	0.55mi
2335 Broad St Durham, NC	1.0–3.0	1.0–2.0	1060	$1,972	$1.86	15d	22	0.78mi
1906 Guess Rd Durham, NC	1.0–3.0	1.0–1.5	825	$1,645	$1.99	25d	22	0.79mi
800 Demerius St Durham, NC	2.0	1.0	715	$1,445	$2.02	25d	1	0.81mi
1803 Hillcrest Dr Durham, NC	3.0	1.0	1044	$1,975	$1.89	15d	1	0.85mi
334 Clark St Unit A Durham, NC	2.0	1.0	796	$1,150	$1.44	25d	1	0.85mi
409 E Maynard Ave Durham, NC	2.0	1.0	775	$1,197	$1.54	25d	1	0.89mi
3523 N Roxboro St Durham, NC	1.0–2.0	1.0–2.0	891	$1,299	$1.46	25d	1	0.89mi
E Maynard Ave Durham, NC	2.0	1.0	775	$1,197	$1.54	15d	2	0.90mi
406 Green St Durham, NC	2.0	1.0	912	$1,990	$2.18	25d	1	0.94mi
1000 N Duke St Durham, NC	2.0	1.5	1080	$1,595	$1.48	25d	1	1.04mi
410 Newsom St Durham, NC	2.0	1.0	840	$1,575	$1.88	23d	1	1.23mi
810 9th St Durham, NC	3.0	1.0–3.0	988	$3,865	$3.91	15d	47	1.36mi
3800 Meriwether Dr Durham, NC	1.0–2.0	1.0–2.0	904	$1,750	$1.94	15d	23	1.37mi
705 Piper St Durham, NC	3.0	1.0	1001	$1,500	$1.50	25d	1	1.39mi
701 Washington St Durham, NC	1.0–3.0	1.0–2.0	996	$5,241	$5.26	15d	214	1.41mi
4001 Meriwether Dr Durham, NC	1.0–3.0	1.0–2.0	909	$1,800	$1.98	25d	1	1.41mi
200 W Geer St Unit 200-C Durham, NC	2.0	1.0	850	$1,400	$1.65	15d	1	1.43mi
620 Foster St Durham, NC	2.0	1.0–2.0	888	$3,303	$3.72	15d	43	1.43mi
815 Madison St Durham, NC	2.0	1.0–2.0	859	$2,854	$3.32	23d	5	1.48mi

Listing history 16 events

1. 2026-05-12
   status Pending
2. 2026-05-07
   status Active
3. 2026-05-07
   price $199,000
4. 2026-03-31
   status Pending
5. 2026-03-26
   listed $219,000 Active
6. 2009-10-01
   soldstatus $133,000 391-char remark

   Show marketing remark (391 chars)

   Back on Market/Buyer lost job! Classic Brick Ranch w/ complete new Kitchen, Bath, Carpet, Paint, Light Fixtures, Range/Oven, Landscaping & Driveway all in '09. New HVAC/Ducts in '05. Hwds under Carpet. Duke, Durham Regional, Elementary and Middle Schools, Mall, Northgate Park & Dog Park are within walking distance or just minutes away. $8,000 Tax Credit ends 11/30/2009-HURRY!!

7. 2009-10-01
   soldstatus $133,000

   Show marketing remark (391 chars)

   Back on Market/Buyer lost job! Classic Brick Ranch w/ complete new Kitchen, Bath, Carpet, Paint, Light Fixtures, Range/Oven, Landscaping & Driveway all in '09. New HVAC/Ducts in '05. Hwds under Carpet. Duke, Durham Regional, Elementary and Middle Schools, Mall, Northgate Park & Dog Park are within walking distance or just minutes away. $8,000 Tax Credit ends 11/30/2009-HURRY!!

8. 2009-09-04
   historical 391-char remark

   Show marketing remark (391 chars)

   Back on Market/Buyer lost job! Classic Brick Ranch w/ complete new Kitchen, Bath, Carpet, Paint, Light Fixtures, Range/Oven, Landscaping & Driveway all in '09. New HVAC/Ducts in '05. Hwds under Carpet. Duke, Durham Regional, Elementary and Middle Schools, Mall, Northgate Park & Dog Park are within walking distance or just minutes away. $8,000 Tax Credit ends 11/30/2009-HURRY!!

9. 2009-04-30
   listed $135,000 391-char remark

   Show marketing remark (391 chars)

   Back on Market/Buyer lost job! Classic Brick Ranch w/ complete new Kitchen, Bath, Carpet, Paint, Light Fixtures, Range/Oven, Landscaping & Driveway all in '09. New HVAC/Ducts in '05. Hwds under Carpet. Duke, Durham Regional, Elementary and Middle Schools, Mall, Northgate Park & Dog Park are within walking distance or just minutes away. $8,000 Tax Credit ends 11/30/2009-HURRY!!

10. 2005-03-30
    soldstatus $97,000 226-char remark

    Show marketing remark (226 chars)

    Great first home with all new carpet, large living room and master bedroom. Great schools (in the Riverside School District) conviently located with easy access to I-85. Desirable corner lot. Red storage shed doesn not convey.

11. 2005-03-30
    soldstatus $97,000 226-char remark

    Show marketing remark (226 chars)

    Great first home with all new carpet, large living room and master bedroom. Great schools (in the Riverside School District) conviently located with easy access to I-85. Desirable corner lot. Red storage shed doesn not convey.

12. 2004-09-07
    soldstatus $97,000
13. 2004-08-11
    historical 226-char remark

    Show marketing remark (226 chars)

    Great first home with all new carpet, large living room and master bedroom. Great schools (in the Riverside School District) conviently located with easy access to I-85. Desirable corner lot. Red storage shed doesn not convey.

14. 2004-07-19
    listed $99,900 226-char remark

    Show marketing remark (226 chars)

    Great first home with all new carpet, large living room and master bedroom. Great schools (in the Riverside School District) conviently located with easy access to I-85. Desirable corner lot. Red storage shed doesn not convey.

15. 2004-07-19
    listed $99,900 226-char remark

    Show marketing remark (226 chars)

    Great first home with all new carpet, large living room and master bedroom. Great schools (in the Riverside School District) conviently located with easy access to I-85. Desirable corner lot. Red storage shed doesn not convey.

16. 1992-11-18
    soldstatus $64,500

ⓘ 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: $2,443 · $204/mo
• Projected year-2 tax: $2,443 · $204/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 ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $21,212
• − Mortgage interest: −$11,147
• − Property taxes: −$2,443
• − Insurance: −$995
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$5,789
• Taxable loss: −$2,556
• Est. tax savings @ 24.0%: +$613
• After-tax cash flow: $1,410/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: Durham Public Schools
• NCES district ID: 3701260
• Math proficiency: 29% ▼ -3.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $52,143
• Composite: 29.69/100
• National rank: #6457
• State rank: #132 of 178 in NC

Livability — Durham

• Score: 81/100
• State rank: #15
• US rank: #1411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Durham, NC
• County: Durham County · 288,747 people
• City population: 288,747
• Metro: Durham-Chapel Hill, NC
• Population (ZIP): 40,102
• Household income: $69,668
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 1280.0

Population outlook (Durham County) Hauer SSP2

• Today (2025): 368,962 people
• By 2030: 402,686 · +9.1%
• By 2040: 468,677 · +27.0%
• By 2050: 531,727 · +44.1%
• By 2075: 660,446 · +79.0%
• By 2100: 739,971 · +100.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 48% White 23% Hispanic / Latino 22% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Jamaica
• Languages at home: 76% English-only · Spanish 19% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Durham

• 2024 margin: Solid D (+61.9) · D 80.2% · R 18.2% · Other 1.6%
• 2008→2024 swing: +10.0pp toward D · 2008: 51.9pp · 2024: 61.9pp
• All cycles: 2024: D+61.9 2020: D+62.4 2016: D+60.4 2012: D+52.7 2008: D+51.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -383.91%
• Current HPI: 265.4178
• Rent YoY: ▲ 2.58%
• Metro: Durham-Chapel Hill, 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

+208.5% since first listed

16 events — show timeline

• 2026-05-12 Pending — TMLS
• 2026-05-07 Relisted — TMLS
• 2026-05-07 Price Changed $199,000 TMLS
• 2026-03-31 Pending — TMLS
• 2026-03-26 Listed $219,000 TMLS
• 2009-10-01 Sold (Public Records) $133,000 Public Records
• 2009-10-01 Sold (MLS) $133,000 TMLS
• 2009-09-04 Listing Removed — TMLS
• 2009-04-30 Listed $135,000 TMLS
• 2005-03-30 Sold (MLS) $97,000 AMLSNC
• 2005-03-30 Sold (MLS) $97,000 TMLS
• 2004-09-07 Sold (Public Records) $97,000 Public Records
• 2004-08-11 Listing Removed — TMLS
• 2004-07-19 Listed $99,900 AMLSNC
• 2004-07-19 Listed $99,900 TMLS
• 1992-11-18 Sold (Public Records) $64,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,443 · +12.1% YoY. Source: county tax records.