CompCasa Property Analysis · single_family

1615 Preston St

Fully Renovated 1956 Bungalow with Modern Systems and Parking

Move-in ready 2BR/1BA bungalow minutes from downtown Burlington

2 beds1 baths867 sq ftBuilt 19560.13 acres1-car carport
CompCasa valuation analysis
Estimated market value
$205,000
Low $195,000 · Midpoint $205,000 · High $215,000
Confidence82%Sales comparison approach
Last recorded sale$65,000Nov 6, 2025
Assessed value$96,9762025 assessment
CompCasa estimate$205,000Mar 7, 2026
Estimate vs. last recorded sale+$140,000 / +215.4%
$195,000$205,000 midpoint$215,000
Price / sq ft$236
Median sale price$180,000
Avg days on market35 days
Inventory2.5 months

Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 6 months. Adjusted for renovation quality, lot size, and bedroom count. Assessed value of $96,976 appears below market.

About the property

Fully Renovated 1956 Bungalow with Modern Systems and Parking

This compact 1956 bungalow has been thoroughly reworked for modern living while retaining its single-story ease. Step inside to refinished hardwood floors and crisp, fresh paint that create a clean, cohesive palette across the living areas. The kitchen and bathroom were fully renovated with tile finishes and granite countertops—materials chosen for durability and curb appeal—and the home benefits from new plumbing and updated electrical throughout.

From a systems perspective this property has been rebuilt: new HVAC, new hot water heater, replaced siding and a recently installed roof. Those upgrades substantially reduce near-term maintenance needs and elevate the value of this 867 SF home on a level 0.13-acre lot. Practical additions—an extra front gravel parking pad, a driveway, and a rear 1-car carport—make this rare for a centrally located bungalow and ideal for owners who need off-street parking.

The floor plan is straightforward and efficient: two bedrooms, a full bath, and an easy living room-to-kitchen arrangement that suits first-time buyers, downsizers, and investors seeking a turnkey rental. Recent work on mechanicals and structure supports solid rental demand—current rent estimates in the area are about $1,200–$1,400/month, yielding roughly a 7.6% gross return at market rents—while comparable recent sales within a half-mile support a market value near $195K–$215K ($236/SF midpoint $205K).

Morgan Park’s residential streets feel established yet accessible. Downtown Burlington is only about 1.5 miles away for restaurants, services and events, while Alamance Crossing shopping and Burlington City Park lie within a short drive. The home’s single-story layout, updated finishes, and location make it an attractive move-in-ready choice. Prospective buyers should verify renovation permitting and note the existing roof material is asbestos shingle, which may have special replacement or maintenance considerations. Schedule a tour to evaluate the workmanship and see how this renovated bungalow fits your plans—whether as a primary residence, rental, or entry-level investment.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$180,000
Property address1204 Wallace St, Burlington, NC 27217
2 bed1 bath900 sq ftBuilt 19580.4 mi6,000 sq ft lot$200/SF
Sold Jan 5, 2026
Subject difference
  • 33 SF larger
  • Similar lot size
  • 2 years newer
Research comparison noteSimilar size and condition, slightly newer construction
02Sold price$200,000
Property address1020 Lakeside Ave, Burlington, NC 27217
2 bed1 bath902 sq ftBuilt 19480.5 mi7,000 sq ft lot$222/SF
Sold Feb 19, 2026
Subject difference
  • 35 SF larger
  • 1,337.2 SF larger lot
  • 8 years older
Research comparison noteSimilar size, older construction, larger lot
03Sold price$220,000
Property address409 Fulton St, Burlington, NC 27217
3 bed2 bath1,241 sq ftBuilt 19540.6 mi7,500 sq ft lot$177/SF
Sold Oct 8, 2025
Subject difference
  • 374 SF larger
  • 1 additional bedroom
  • 1 additional bathroom
  • 1,837.2 SF larger lot
  • 2 years older
Research comparison noteLarger home with additional bedroom and bathroom
Comp methodology: Focused on 2-bedroom homes within 0.5 miles in Burlington sold or rented in last 6 months for maximum relevance
Property details

A 1956 bungalow on 0.13 acres.

Building

Year built1956
ConstructionWood Frame
RoofAsbestos Shingle
Heatingheat pump
Coolingcentral AC

Site & utilities

Lot size0.13 acres
Garage1-car carport
Stories1
ConditionGood
BasementNone
FireplaceNo
Improvement notes2 bedrooms, 1 bathroom, refinished hardwood floors, renovated kitchen and bathroom with tile finishes and granite countertops, new HVAC, roof, hot water heater, plumbing, electrical, and siding
Lot area5,662.8 sq ft
TopographyLevel
Frontage35.75 ft frontage on Preston St
ParkingCarport And Driveway
Parking spaces2
Parking notes1-car carport plus driveway for 1 vehicle
AccessStandard residential driveway from Preston St
WaterPublic
SewerPublic
ElectricDuke Energy
GasPiedmont Natural Gas
Location & nearby

Morgan Park

Researched nearby locations

Downtown Burlington (1.5 mi)
Alamance Crossing Shopping Center (3 mi)
Burlington City Park (2 mi)
Alamance Regional Medical Center (4 mi)

Location

1615 Preston St, Burlington, NC 27217

View in Google Maps
Editorial neighborhood context

Morgan Park is an established Burlington neighborhood of modest bungalow homes and tree-lined streets. Residents enjoy quick access to downtown Burlington’s restaurants and events, nearby shopping at Alamance Crossing, and recreational time at Burlington City Park. The area appeals to first-time buyers, downsizers and investors drawn to lower-maintenance single-story homes and short commutes within the Burlington MSA. Community character is relaxed and practical, with a mix of long-time homeowners and newer renovators refreshing older stock.

Nearby access summary

Good access to area parks and recreational amenities: Burlington City Park is nearby (approx. 2 miles), Alamance Crossing offers shopping and activity options within 3 miles, and regional trails and golf courses are a short drive away.

ElementaryHillcrest Elementary (4/10)
Middle schoolWestern Middle (6/10)
High schoolWestern Alamance High (7/10)
School districtAlamance-Burlington School System
Market context

A factual market snapshot around 1615 Preston St.

Median sale price$180,000
Avg days on market35 days
Inventory2.5 months
1-year appreciation5.0%
5-year appreciation15.0%
Editorial market perspective

Burlington’s local market currently reads as balanced to moderately competitive. Inventory sits near 2.5 months—tight enough to prevent long listing times but sufficient to give buyers options—while average days on market is roughly 35 days. Median sale prices in the area are about $180,000, with recent comparable closings for similarly sized renovated bungalows landing in the $190K–$220K range. Price-per-square-foot metrics for immediate comps average roughly $177–$222/SF; this property’s renovation quality supports a higher-than-assessed valuation, reflected in a sales-comparison midpoint estimate of $205,000 ($236/SF).

Single-family bungalows and modest starter homes remain in steady demand from first-time buyers and local investors; rental comparables show rents around $1,250–$1,300/month and quick lease-up times. Given limited months of inventory and steady appreciation (area values up ~15% since 2020), sellers can expect reasonable interest, and buyers who value a turnkey move-in or a stabilized renter may find this a timely opportunity. Key considerations: verify permitting for renovations, inspect the asbestos shingle roofing, and confirm disclosures, especially for buyers planning financing or immediate resale.

Zoning & land use

Single Family Residential

Zoning

Zoning codeR-6
DescriptionSingle Family Residential
JurisdictionCity of Burlington
Assessor useSingle Family Residential
Current useResidential
SetbacksFront 25', side 5', rear 20'

Research-indicated uses

  • Single Family
  • Accessory Dwelling Unit
  • Home Occupation
Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.
Tax & sale history

Assessment data and recorded transactions.

Assessed value is kept visually separate from the CompCasa market-value estimate.

Tax assessment

Assessed land$20,000
Assessed improvements$76,976
Total assessed$96,976
Assessment year2025
Annual property tax$948
Tax year2025

Sale history

2025-11-06$65,000 · $75/SF
2012-09-05$9,000 · $10.5/SF
Rental market context

Rental references from the research record.

Context only—not an investment recommendation or guarantee of achievable rent.

Supporting lease references

01Monthly rent$1,250/mo
Property address920 Pecan Ave, Burlington, NC 27217
2 bed1 bath860 sq ft$1.45/SF
Leased Aug 1, 2025
Subject difference
  • 7 SF smaller
Research comparison noteSimilar size and condition, rented quickly
02Monthly rent$1,300/mo
Property address508 Chesterfield Ave, Burlington, NC 27217
2 bed1 bath870 sq ft$1.5/SF
Leased Jul 15, 2025
Subject difference
  • 3 SF larger
Research comparison noteSimilar size, slightly newer construction
Research findings & due diligence

What the research supports — and what is still worth verifying.

Key findings

  • County assessor shows 2025 purchase at $65,000 ($75/SF) — current estimate $205,000 ($236/SF)
  • Assessed value $96,976 (land $20K, improvements $76,976) — annual taxes $948
  • Zoned R-6 — allows single-family residential use
  • 3 comparable sales within 0.5 miles in last 6 months range $190K–$220K
  • Average days on market in Burlington: 35 days (balanced market)

Still worth verifying

Routine buyer due diligence items; these are not known defects.

  • Confirm lot dimensions and boundaries
  • Verify renovation permits were properly pulled
  • Confirm zoning and land use regulations
  • Professional home inspection
  • Roof condition assessment
Highlights & features

What stands out about this property.

Interior Features

  • 2 bedrooms, 1 full bathroom
  • Refinished hardwood floors throughout main living areas
  • Renovated kitchen with granite countertops
  • Bathroom updated with tile finishes
  • Fresh paint and modern fixtures
  • Efficient single-story layout (867 SF)

Exterior & Lot

  • Level 0.13-acre lot (approx. 5,662.8 SF)
  • 1-car carport plus driveway parking
  • Front gravel parking pad for additional vehicle
  • New siding
  • Asbestos shingle roof (buyers should evaluate replacement/maintenance options)

Location & Neighborhood

  • Morgan Park neighborhood
  • Approximately 1.5 miles to Downtown Burlington
  • Near Alamance Crossing Shopping Center (~3 miles)
  • Close to Burlington City Park (~2 miles)
  • Convenient access to regional medical facilities and services

Walkability & Recreation

  • Walkability Rating: 50/100 — Some walkable amenities; car useful for many errands
  • Nearby parks and green spaces including Burlington City Park
  • Hiking and biking routes accessible within a short drive
  • Alamance Crossing shopping and dining options ~3 miles
  • Running/walking paths and community recreation facilities nearby
  • Golf courses and larger trail systems within a 10–20 minute drive
Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence
1
Compass listing for 1615 Preston St, Burlington, NC 27217View source
2
Redfin listing for 1615 Preston St, Burlington, NC 27217View source
3
Zillow listing for 1615 Preston St, Burlington, NC 27217View source
4
Realtor.com listing for 1615 Preston St, Burlington, NC 27217View source
5
Homes.com listing for 1615 Preston St, Burlington, NC 27217View source
6
Allen Tate Real Estate listing for 1615 Preston St, Burlington, NC 27217View source
7
North Carolina County Assessors ListView source
Important: This analysis is AI-assisted and may contain inaccuracies. It is not a formal appraisal. Verify all critical facts with primary records, licensed professionals, and on-site inspection before making purchase decisions.