1120 Lincoln St · Kinston, NC 28501

$53,000

3 bd · 1.0 ba · 1,218 sqft · SingleFamily public records · 388 Days on market

Built 1954 9,148 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This home is a great INVESTMENT OPPORTUNITY! Rehab has started but renovations not finished. Has a total roof replacement with 30 year architectural shingles. Had new sheet rock, updated wiring, and new electrical box put in BEFORE IT FLOODED. This home is in a flood zone and has been flooded previously. Flood Insurance is strongly recommended. With some attention this will be a beautiful home!

Key facts

• 9,148 sq ft lot
• Built 1954
• Listed 387 days

Property features AI

Finance

• Other: Zoning: R
• HOA & community: No association amenities

Exterior

• Parking: On-street parking
• Utilities: Public water; Sewer available; Water available
• Home design: Single-family residence; One story
• Construction: Wood siding; Shingle roof; Built on crawl space
• Exterior features: No exterior features listed; No patio or porch; No fencing; Property has a view

Interior

• Bedrooms: 4 total rooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Unfurnished; No fireplace; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $59 ($708/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Recommended offer: $47k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.3% 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: 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: 96 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $366 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 388 days — a 12% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $7k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $53k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $427/mo; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $46,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 388 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.18% ✓
• Cap rate: 17.29%
• Cash-on-cash: 39.26%
• DSCR: 2.75
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $28,014
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1107 E Bright St	0.19mi	3/—	1,395 (+14%)	14mo	$25,000	$18	55
104 N Trianon St	0.60mi	2/1.0 (-1)	1,279 (+5%)	8mo	$29,000	$23	52

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: -8.2%
• Equity multiple: 0.70×
• Total profit: $-4,513
• Equity at exit: $7,902

10-year hold

• IRR: 2.0%
• Equity multiple: 1.15×
• Total profit: $2,199
• Equity at exit: $4,582

Cash invested: $14,840 (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: 96
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,157 high
• Mortgage (P&I): −$278
• Tax from tax record: −$128 /mo · $1,538/yr
• Insurance: −$22
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $59

Break-even live

Break-even rent $1,082

Max offer price $53,000

Occupancy floor 90%

Sensitivity live

Price	-10% $89	-5% $74	+0% $59	+5% $44	+10% $29
Rent	-10% $-32	-5% $13	+0% $59	+5% $105	+10% $150
Rate	-1.0pp $86	-0.5pp $72	base $59	+0.5pp $45	+1.0pp $31

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1204 Desmond St Kinston, NC	3.0	1.0	1100	$1,340	$1.22	22d	1	0.18mi
100 Wingate Dr Kinston, NC	2.0–3.0	1.0–1.5	930	$975	$1.05	22d	1	0.55mi
705 Harvey St Kinston, NC	2.0	1.0	896	$700	$0.78	22d	1	0.91mi
619 S Heritage St Kinston, NC	1.0–2.0	2.0	1025	$1,042	$1.02	14d	4	1.03mi
503 N Queen St Kinston, NC	1.0–2.0	2.0	759	$723	$0.95	14d	8	1.19mi

Listing history 26 events

1. 2026-06-21
   days on market $53,000 Active 388 DOM
2. 2026-06-19
   days on market $53,000 Active 386 DOM
3. 2026-06-18
   days on market $53,000 Active 385 DOM
4. 2026-06-17
   days on market $53,000 Active 384 DOM
5. 2026-06-16
   days on market $53,000 Active 383 DOM
6. 2026-06-15
   days on market $53,000 Active 382 DOM
7. 2026-06-14
   days on market $53,000 Active 380 DOM
8. 2026-06-12
   days on market $53,000 Active 379 DOM
9. 2026-06-09
   days on market $53,000 Active 376 DOM
10. 2026-06-08
    days on market $53,000 Active 375 DOM
11. 2026-06-07
    days on market $53,000 Active 374 DOM
12. 2026-06-07
    days on market $53,000 Active 373 DOM
13. 2026-06-04
    days on market $53,000 Active 370 DOM
14. 2026-06-02
    days on market $53,000 Active 369 DOM
15. 2026-06-01
    days on market $53,000 Active 368 DOM
16. 2026-05-31
    days on market $53,000 Active 367 DOM
17. 2026-05-31
    days on market $53,000 Active 366 DOM
18. 2026-05-08
    price $53,000
19. 2025-05-29
    listed $60,000 Active
20. 2022-08-10
    status Pending 398-char remark

    Show marketing remark (398 chars)

    This home is a great INVESTMENT OPPORTUNITY! Rehab has started but renovations not finished. Has a total roof replacement with 30 year architectural shingles. Had new sheet rock, updated wiring, and new electrical box put in BEFORE IT FLOODED. This home is in a flood zone and has been flooded previously. Flood Insurance is strongly recommended. With some attention this will be a beautiful home!

21. 2022-08-08
    soldstatus $35,000 Closed 398-char remark

    Show marketing remark (398 chars)

    This home is a great INVESTMENT OPPORTUNITY! Rehab has started but renovations not finished. Has a total roof replacement with 30 year architectural shingles. Had new sheet rock, updated wiring, and new electrical box put in BEFORE IT FLOODED. This home is in a flood zone and has been flooded previously. Flood Insurance is strongly recommended. With some attention this will be a beautiful home!

22. 2022-07-28
    status Pending 398-char remark

    Show marketing remark (398 chars)

    This home is a great INVESTMENT OPPORTUNITY! Rehab has started but renovations not finished. Has a total roof replacement with 30 year architectural shingles. Had new sheet rock, updated wiring, and new electrical box put in BEFORE IT FLOODED. This home is in a flood zone and has been flooded previously. Flood Insurance is strongly recommended. With some attention this will be a beautiful home!

23. 2022-07-17
    price $37,922 398-char remark

    Show marketing remark (398 chars)

    This home is a great INVESTMENT OPPORTUNITY! Rehab has started but renovations not finished. Has a total roof replacement with 30 year architectural shingles. Had new sheet rock, updated wiring, and new electrical box put in BEFORE IT FLOODED. This home is in a flood zone and has been flooded previously. Flood Insurance is strongly recommended. With some attention this will be a beautiful home!

24. 2022-05-19
    listed $40,000 Active 398-char remark

    Show marketing remark (398 chars)

    This home is a great INVESTMENT OPPORTUNITY! Rehab has started but renovations not finished. Has a total roof replacement with 30 year architectural shingles. Had new sheet rock, updated wiring, and new electrical box put in BEFORE IT FLOODED. This home is in a flood zone and has been flooded previously. Flood Insurance is strongly recommended. With some attention this will be a beautiful home!

25. 2010-12-02
    soldstatus $6,327 98-char remark

    Show marketing remark (98 chars)

    House at 1124 Lincoln & lot behind on Reed St, lot at 1125 Lincoln are also included in price.

26. 2010-06-18
    listed $9,900 98-char remark

    Show marketing remark (98 chars)

    House at 1124 Lincoln & lot behind on Reed St, lot at 1125 Lincoln are also included in price.

ⓘ 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: $1,538 · $128/mo
• Projected year-2 tax: $1,538 · $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 AE · 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: $13,880
• − Mortgage interest: −$2,969
• − Property taxes: −$1,538
• − Insurance: −$5,384
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$1,542
• Taxable income: $227
• Est. tax owed @ 24.0%: −$54
• After-tax cash flow: $654/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

+435.4% since first listed

9 events — show timeline

• 2026-05-08 Price Changed $53,000 Hive MLS
• 2025-05-29 Listed $60,000 Hive MLS
• 2022-08-10 Pending — Hive MLS
• 2022-08-08 Sold (MLS) $35,000 Hive MLS
• 2022-07-28 Pending — Hive MLS
• 2022-07-17 Price Changed $37,922 Hive MLS
• 2022-05-19 Listed $40,000 Hive MLS
• 2010-12-02 Sold (MLS) $6,327 Hive MLS
• 2010-06-18 Listed $9,900 Hive MLS

Property tax history

+16.3%/yr

Latest (2025): $1,538 · +1458.5% YoY. Source: county tax records.