901 College St · Kinston, NC 28501

$139,000

4 bd · 2.0 ba · 2,018 sqft · SingleFamily public records · 16 Days on market

Built 1947 0.32 ac lot Est $178k · 22% under

---

Why this score? — see what drove the B- 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom 2 Bath Home in Kinston. This 2,000 SF +/- home could be a great investment property or home for a buyer. Spacious rooms and new AC installed within the last 24 months. Good size yard at roughly 1/3 of an acre with a screened in porch.

Key facts

• Hvac replaced
• Corner lot
• Roof replaced

Tags

• CORNER LOT
• ROOF REPLACED
• HVAC REPLACED
• LAUNDRY ROOM ENCLOSED

Property features AI

Exterior

• Parking: Concrete on-site parking
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single-family residence; One level / 1 story; Entry on level 1; Residential property
• Construction: Vinyl siding and frame construction; Brick/mortar foundation; Shingle roof
• Exterior features: Enclosed porch; Porch; Corner lot; Has a view

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: Master downstairs
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Master suite on the main level; Crawl space basement
• Laundry & utility: Laundry room; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.8% in Kinston — 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 55/100 on livability (#640 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Northwest Elementary (math 23% / reading 25%, grade F, #1,153 of 1,410 statewide, top 82%, 478 students, 99% FRL); Rochelle Middle (math 9% / reading 20%, grade F, #462 of 475 statewide, top 98%, 466 students, 98% FRL); Kinston High (math 22% / reading 37%, grade F, #459 of 535 statewide, top 87%, 713 students, 100% FRL) — zoned schools average 99% FRL vs 65% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 95 active listings in the ZIP; 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lenoir County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $53k; list at $139k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,915 (1.5% below list)

Questions for the listing agent

1. Built in 1947 — 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 F-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: 1.20% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.46%
• DSCR: 1.55
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $177,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
607 Harding Ave	0.21mi	3/2.0 (-1)	2,030 (+1%)	2mo	$185,000	$91	83
605 W Lenoir Ave	0.24mi	3/2.0 (-1)	1,884 (-7%)	2mo	$165,000	$88	71
605 W Lenoir Ave #605	0.24mi	3/2.0 (-1)	1,884 (-7%)	2mo	$165,000	$88	71
806 West Rd	0.46mi	3/2.0 (-1)	1,977 (-2%)	3mo	$218,900	$111	67
900 Nelson St	0.38mi	4/2.5	2,161 (+7%)	2mo	$130,000	$60	66
312 Frances Pl	0.67mi	4/2.0	1,990 (-1%)	2mo	$41,000	$21	65
201 Park Ave	0.37mi	3/2.0 (-1)	1,768 (-12%)	3mo	$85,000	$48	55
1404 Carey Rd	0.67mi	4/2.0	2,210 (+10%)	2mo	$220,000	$100	52
113 E Capitola Ave	0.35mi	3/1.5 (-1)	1,757 (-13%)	6mo	$129,900	$74	50
1500 Pollock St	0.50mi	3/2.0 (-1)	2,287 (+13%)	2mo	$190,000	$83	48
1006 Clifton Ter	0.64mi	4/2.5	1,742 (-14%)	2mo	$224,000	$129	44
1303 W Washington Ave	0.74mi	3/2.0 (-1)	1,768 (-12%)	7mo	$70,000	$40	34

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: 2.2%
• Equity multiple: 1.08×
• Total profit: $3,211
• Equity at exit: $20,725

10-year hold

• IRR: 11.7%
• Equity multiple: 1.92×
• Total profit: $35,925
• Equity at exit: $12,018

Cash invested: $38,920 (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 28501

• Home prices YoY: -18.9%
• Active inventory: 95
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,669 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $404

Break-even live

Break-even rent $1,158

Max offer price $139,000

Occupancy floor 71%

Sensitivity live

Price	-10% $483	-5% $443	+0% $404	+5% $365	+10% $325
Rent	-10% $272	-5% $338	+0% $404	+5% $470	+10% $536
Rate	-1.0pp $474	-0.5pp $439	base $404	+0.5pp $368	+1.0pp $331

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-19
   days on market $139,000 Active 16 DOM
2. 2026-06-18
   price $139,000 Active 15 DOM
3. 2026-06-18
   days on market $146,000 Active 15 DOM
4. 2026-06-17
   days on market $146,000 Active 14 DOM
5. 2026-06-16
   days on market $146,000 Active 13 DOM
6. 2026-06-15
   days on market $146,000 Active 12 DOM
7. 2026-06-14
   days on market $146,000 Active 10 DOM
8. 2026-06-12
   days on market $146,000 Active 9 DOM
9. 2026-06-09
   days on market $146,000 Active 6 DOM
10. 2026-06-08
    days on market $146,000 Active 5 DOM
11. 2026-06-07
    days on market $146,000 Active 4 DOM
12. 2026-06-07
    days on market $146,000 Active 3 DOM
13. 2026-06-04
    remarks 347-char remark
14. 2026-06-04
    listed $146,000 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: $1,532 · $128/mo
• Projected year-2 tax: $1,532 · $128/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $20,029
• − Mortgage interest: −$7,786
• − Property taxes: −$1,532
• − Insurance: −$695
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − Depreciation: −$4,044
• Taxable income: $2,768
• Est. tax owed @ 24.0%: −$664
• After-tax cash flow: $4,185/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — Kinston

• Score: 55/100
• State rank: #640
• US rank: #23267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kinston, NC
• City population: 20,407
• Population (ZIP): 18,112

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.17%
• Current HPI: 193.3213
• Rent YoY: —
• Metro: —
• 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

+317.1% since first listed

10 events — show timeline

• 2026-06-03 Listed $146,000 Hive MLS
• 2022-12-02 Sold (Public Records) $53,000 Public Records
• 2022-12-02 Sold (MLS) $53,000 Hive MLS
• 2022-11-23 Pending — Hive MLS
• 2022-11-11 Price Changed $68,000 Hive MLS
• 2022-10-20 Relisted — Hive MLS
• 2022-09-21 Pending — Hive MLS
• 2022-09-14 Listed $78,500 Hive MLS
• 2021-01-18 Sold (MLS) $30,000 Hive MLS
• 2020-06-22 Listed $35,000 Hive MLS

Property tax history

+8.1%/yr

Latest (2025): $1,532 · +154.0% YoY. Source: county tax records.