606 Walker Ave · Graham, NC 27253

$120,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 3 Days on market

Built 1952 0.27 ac lot Est $167k · 28% under

---

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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.3/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity or ideal starter home! This long-term rental property offers loads of potential for investors or first-time buyers looking to make it their own. Featuring 2 bedrooms and 1 bath with ceramic tile, this home also includes Pergo laminate flooring throughout the living space. The roof was installed in 2024, adding peace of mind for future owners. Enjoy a spacious lot with a privacy-fenced backyard, perfect for outdoor living, pets, or gardening. Window air conditioning units, electric range and dishwasher have not been tested and are sold as-is. Fencing needs some repair. House being sold as-is. Affordable and full of possibilities—don’t miss this opportunity! Seller is a licensed NC Real Estate agent.

Key facts

• Spacious lot
• Ceramic tile
• Outdoor living

Tags

• CERAMIC TILE
• PERGO LAMINATE FLOORING
• PRIVACY-FENCED BACKYARD
• SPACIOUS LOT
• OUTDOOR LIVING

Property features AI

Finance

• Other: Property listed in Alamance County; Road frontage on a city street with public maintenance and asphalt surface
• HOA & community: No association

Exterior

• Parking: Driveway; 2 open parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: One‑story house; Entry level: 1; Site built
• Construction: Aluminum siding; Shingle roof; Built as a single‑family house
• Exterior features: Front porch; Fenced yard with privacy fencing; Private yard

Interior

• Kitchen: Dishwasher; Electric range; Free‑standing range; Electric water heater
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Ceiling fan(s); Window unit(s)
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer hookup; Washer/dryer hookups located in a laundry closet in the kitchen; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.9% vs local median 3.3% in Graham — 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 69/100 on livability (#144 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D-, amenities F.
• Alamance-Burlington Schools (rural): math 30% / reading 40% proficiency, ranked #133 of 178 in NC (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 400 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,466 units permitted in Alamance County in 2024 (403 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Alamance County population projected at +19% 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.
• 3 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $49k; list at $120k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1952 — 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. 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: 8.88%
• Cash-on-cash: 9.23%
• DSCR: 1.41
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $166,656
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 Moser St	0.17mi	2/1.0	770 (+0%)	9mo	$197,500	$256	84
409 Moser St	0.17mi	2/1.0	844 (+10%)	5mo	$200,000	$237	71
409 Walker Ave	0.18mi	2/1.0	830 (+8%)	14mo	$180,000	$217	67
507 Town Branch Rd	0.44mi	2/1.0	800 (+4%)	17mo	$110,000	$138	59
513 Kernodle Dr	0.18mi	2/1.0	855 (+11%)	21mo	$125,000	$146	55
202 Whitsett St	0.58mi	2/1.0	747 (-3%)	18mo	$90,000	$120	53
102 Allen St	0.34mi	2/1.0	877 (+14%)	12mo	$200,000	$228	50
514 Townbranch Rd	0.41mi	2/1.5	864 (+12%)	14mo	$162,500	$188	47
307 Oneida St	0.69mi	2/1.0	873 (+14%)	3mo	$140,000	$160	42
216 Walker Ave	0.39mi	2/1.0	656 (-15%)	19mo	$170,000	$259	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-3,026
• Equity at exit: $17,892

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $18,370
• Equity at exit: $10,375

Cash invested: $33,600 (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 27253

• Home prices YoY: -34.2%
• Active inventory: 400
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,237 high
• Mortgage (P&I): −$629
• Tax from tax record: −$39 /mo · $469/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $259

Break-even live

Break-even rent $909

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $327	-5% $293	+0% $259	+5% $225	+10% $191
Rent	-10% $161	-5% $210	+0% $259	+5% $307	+10% $356
Rate	-1.0pp $319	-0.5pp $289	base $259	+0.5pp $227	+1.0pp $196

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Walker Ave Graham, NC	2.0	1.0	552	$1,100	$1.99	22d	1	0.21mi
614 E Parker St Unit J Graham, NC	2.0	1.0	850	$1,125	$1.32	15d	1	0.40mi
632 New St Graham, NC	2.0	1.0	900	$1,200	$1.33	22d	1	0.50mi
212 College St Apt G Graham, NC	2.0	1.5	1050	$1,125	$1.07	22d	1	0.61mi
1013 Townbranch Rd Graham, NC	1.0–3.0	1.0–1.5	840	$1,175	$1.40	22d	1	0.92mi
511 Poplar St Unit C Graham, NC	2.0	1.0	900	$1,195	$1.33	22d	1	0.93mi
317 E Gilbreath St Unit 319 Graham, NC	2.0	1.0	800	$1,295	$1.62	22d	1	1.03mi
2120 Waterside Cir Graham, NC	2.0	2.0	1040	$1,475	$1.42	22d	1	1.29mi
2310 Vantage Pt Graham, NC	1.0	1.0	846	$1,323	$1.56	22d	1	1.36mi

Listing history 7 events

1. 2026-05-18
   status Pending

   Show marketing remark (743 chars)

   Investment opportunity or ideal starter home! This long-term rental property offers loads of potential for investors or first-time buyers looking to make it their own. Featuring 2 bedrooms and 1 bath with ceramic tile, this home also includes Pergo laminate flooring throughout the living space. The roof was installed in 2024, adding peace of mind for future owners. Enjoy a spacious lot with a privacy-fenced backyard, perfect for outdoor living, pets, or gardening. Window air conditioning units, electric range and dishwasher have not been tested and are sold as-is. Fencing needs some repair. House being sold as-is. Affordable and full of possibilities—don’t miss this opportunity! Seller is a licensed NC Real Estate agent.

2. 2026-05-18
   status Pending 743-char remark

   Show marketing remark (743 chars)

   Investment opportunity or ideal starter home! This long-term rental property offers loads of potential for investors or first-time buyers looking to make it their own. Featuring 2 bedrooms and 1 bath with ceramic tile, this home also includes Pergo laminate flooring throughout the living space. The roof was installed in 2024, adding peace of mind for future owners. Enjoy a spacious lot with a privacy-fenced backyard, perfect for outdoor living, pets, or gardening. Window air conditioning units, electric range and dishwasher have not been tested and are sold as-is. Fencing needs some repair. House being sold as-is. Affordable and full of possibilities—don’t miss this opportunity! Seller is a licensed NC Real Estate agent.

3. 2026-05-15
   listed $120,000 Active

   Show marketing remark (743 chars)

   Investment opportunity or ideal starter home! This long-term rental property offers loads of potential for investors or first-time buyers looking to make it their own. Featuring 2 bedrooms and 1 bath with ceramic tile, this home also includes Pergo laminate flooring throughout the living space. The roof was installed in 2024, adding peace of mind for future owners. Enjoy a spacious lot with a privacy-fenced backyard, perfect for outdoor living, pets, or gardening. Window air conditioning units, electric range and dishwasher have not been tested and are sold as-is. Fencing needs some repair. House being sold as-is. Affordable and full of possibilities—don’t miss this opportunity! Seller is a licensed NC Real Estate agent.

4. 2026-05-15
   listed $120,000 Active 743-char remark

   Show marketing remark (743 chars)

   Investment opportunity or ideal starter home! This long-term rental property offers loads of potential for investors or first-time buyers looking to make it their own. Featuring 2 bedrooms and 1 bath with ceramic tile, this home also includes Pergo laminate flooring throughout the living space. The roof was installed in 2024, adding peace of mind for future owners. Enjoy a spacious lot with a privacy-fenced backyard, perfect for outdoor living, pets, or gardening. Window air conditioning units, electric range and dishwasher have not been tested and are sold as-is. Fencing needs some repair. House being sold as-is. Affordable and full of possibilities—don’t miss this opportunity! Seller is a licensed NC Real Estate agent.

5. 2004-05-14
   soldstatus $49,000
6. 2004-04-22
   historical
7. 2003-10-08
   listed $54,000

ⓘ 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: $469 · $39/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$515/yr (+$43/mo · 109.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,840
• − Mortgage interest: −$6,722
• − Property taxes: −$469
• − Insurance: −$600
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$3,491
• Taxable income: $1,184
• Est. tax owed @ 24.0%: −$284
• After-tax cash flow: $2,819/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: Alamance-Burlington Schools
• NCES district ID: 3700030
• Math proficiency: 30% ▼ -6.00%
• Reading proficiency: 40% ▲ 2.00%
• Median HH income: $43,359
• Composite: 29.68/100
• National rank: #6460
• State rank: #133 of 178 in NC

Livability — Graham

• Score: 69/100
• State rank: #144
• US rank: #8181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Graham, NC
• County: Alamance County · 173,369 people
• City population: 33,114
• Metro: Burlington, NC
• Population (ZIP): 33,114
• Household income: $62,774
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 879.0

Population outlook (Alamance County) Hauer SSP2

• Today (2025): 173,381 people
• By 2030: 180,609 · +4.2%
• By 2040: 194,327 · +12.1%
• By 2050: 206,158 · +18.9%
• By 2075: 235,665 · +35.9%
• By 2100: 258,626 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 17% Black 16% Two or more races 9%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 3% Romanian 2% Italian 1%
• Foreign-born: 10% · Canada, Jamaica, Dominican Republic
• Languages at home: 84% English-only · Spanish 13%

Political lean MEDSL · Alamance

• 2024 margin: Lean R (+8.2) · D 45.4% · R 53.5% · Other 1.1%
• 2008→2024 swing: +1.1pp toward D · 2008: -9.2pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+8.4 2016: R+12.9 2012: R+14.1 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.91%
• Current HPI: 200.155
• Rent YoY: —
• Metro: Burlington, 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

+122.2% since first listed

7 events — show timeline

• 2026-05-18 Pending — TMLS
• 2026-05-18 Pending — Triad MLS
• 2026-05-15 Listed $120,000 Triad MLS
• 2026-05-15 Listed $120,000 TMLS
• 2004-05-14 Sold (Public Records) $49,000 Public Records
• 2004-04-22 Listing Removed — TMLS
• 2003-10-08 Listed $54,000 TMLS

Property tax history

+5.3%/yr

Latest (2025): $469 · +5.3% YoY. Source: county tax records.