105 Concord Dr Unit B · Greenville, NC 27834

$130,000

2 bd · 1.5 ba · 1,066 sqft · Condo public records · 40 Days on market

Built 1983 $56/mo HOA · 5% of rent

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Why this score? — see what drove the D 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 +13.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to convenience, comfort, and versatility! This charming townhome is perfectly situated within walking distance to shopping and dining, making everyday living effortless. Step inside to a spacious great room that flows seamlessly into the dining area--ideal for entertaining or relaxing at home. New LVP floors installed throughout and updated lighting. The open-concept kitchen offers abundant countertop space and features brand new stainless steel appliances, perfect for both everyday meals and hosting guests. Natural light pours into the dining room through beautiful new French doors, leading out to a private patio complete with a storage room--your own peaceful outdoor retreat.

Key facts

• Spacious great room
• Open-concept kitchen
• Private patio

Tags

• WALKING DISTANCE TO SHOPPING
• WALKING DISTANCE TO DINING
• SPACIOUS GREAT ROOM
• OPEN-CONCEPT KITCHEN
• NEW STAINLESS STEEL APPLIANCES
• PRIVATE PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $7 ($80/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 $112k (13.5% below list).
• Recommended offer: $112k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.8% in Greenville — 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 77/100 on livability (#30 in NC, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, employment F.
• Pitt County Schools (rural): math 41% / reading 44% proficiency, ranked #100 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wintergreen Primary (722 students, 45% FRL); E B Aycock Middle (math 27% / reading 30%, grade F, #355 of 475 statewide, top 76%, 661 students, 99% FRL); Junius H Rose High (math 52% / reading 61%, grade C, #261 of 535 statewide, top 49%, 1,525 students, 50% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 356 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $130k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $112,445 (13.5% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.51×
• Total profit: $-17,805
• Equity at exit: $19,383

10-year hold

• IRR: -1.0%
• Equity multiple: 0.92×
• Total profit: $-2,731
• Equity at exit: $11,240

Cash invested: $36,400 (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 27834

• Rents YoY: 5.4%
• Active inventory: 356
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,124 high
• Mortgage (P&I): −$682
• Tax from tax record: −$90 /mo · $1,077/yr
• Insurance: −$54
• HOA: −$56
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $7

Break-even live

Break-even rent $1,116

Max offer price $130,000

Occupancy floor 94%

Sensitivity live

Price	-10% $80	-5% $43	+0% $7	+5% $-30	+10% $-67
Rent	-10% $-82	-5% $-38	+0% $7	+5% $51	+10% $96
Rate	-1.0pp $72	-0.5pp $40	base $7	+0.5pp $-27	+1.0pp $-61

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1510 Bridle Ct Greenville, NC	1.0–3.0	1.0–2.0	798	$1,062	$1.33	23d	1	0.21mi
3260 Landmark St Greenville, NC	2.0	1.5	1042	$1,000	$0.96	23d	1	0.55mi
3278 Colony Ct Greenville, NC	1.0–3.0	1.0–2.0	1170	$1,188	$1.01	23d	1	0.57mi
352 Haven Dr Greenville, NC	2.0	1.5	1042	$995	$0.95	23d	1	0.68mi
3300 Evans St Greenville, NC	1.0–2.0	1.0	700	$1,050	$1.50	23d	1	0.70mi
3212 Summer Pl #6 Greenville, NC	1.0	1.0	900	$799	$0.89	23d	1	0.87mi
111 Lakeview Ter Greenville, NC	2.0–3.0	1.0–2.0	750	$1,010	$1.35	15d	7	0.87mi
3214 Summer Pl #10 Greenville, NC	1.0	1.0	900	$799	$0.89	23d	1	0.89mi
220 Orlando Way Unit C Greenville, NC	1.0	1.0	880	$1,100	$1.25	23d	1	0.90mi
212 Orlando Way Unit C Greenville, NC	1.0	1.0	880	$1,100	$1.25	23d	1	0.95mi
2207 Wandsworth Dr Greenville, NC	1.0–2.0	1.0	650	$900	$1.38	15d	5	1.06mi
2613 Whitaker Dr Greenville, NC	2.0	1.0	853	$1,004	$1.18	23d	1	1.10mi
3003 Caldwell Ct Unit 1 Greenville, NC	1.0	1.0	900	$799	$0.89	23d	1	1.13mi
1604 W Arlington Blvd Greenville, NC	1.0–2.0	1.0	624	$1,125	$1.80	15d	11	1.20mi
1151 Cross Creek Cir Greenville, NC	3.0	2.5	1338	$1,600	$1.20	23d	1	1.20mi
1151 Cross Creek Cir Unit D Greenville, NC	3.0	2.5	1338	$1,550	$1.16	15d	1	1.21mi
14a Merry Ln Greenville, NC	1.0–3.0	1.0–2.5	1150	$1,222	$1.06	15d	14	1.22mi
1150 Cross Creek Cir Greenville, NC	2.0	2.0	1100	$1,200	$1.09	23d	1	1.22mi
301 Shiloh Dr Unit A Greenville, NC	2.0	1.0	864	$950	$1.10	23d	1	1.26mi
203 Shiloh Dr Unit E Greenville, NC	2.0	1.5	1000	$1,130	$1.13	23d	1	1.29mi
3324 Frontgate Dr Greenville, NC	1.0–2.0	1.0	765	$999	$1.31	15d	9	1.36mi
3338 Frontgate Dr Unit 32-18 Greenville, NC	1.0	1.0	721	$849	$1.18	23d	1	1.39mi
3338 Frontgate Dr Unit 22 Greenville, NC	2.0	1.0	865	$1,049	$1.21	23d	1	1.39mi
1710 Garland St Greenville, NC	2.0	1.0	884	$1,195	$1.35	23d	1	1.39mi
1035 Spring Forest Rd Greenville, NC	3.0	2.0–2.5	1453	$1,450	$1.00	23d	2	1.42mi
1015 Spring Forest Rd Unit F5 Greenville, NC	3.0	2.5	1453	$1,200	$0.83	23d	1	1.43mi
2928 Mulberry Ln Unit 2928E Greenville, NC	2.0	2.0	1233	$1,300	$1.05	15d	1	1.45mi
600 Howell St Apt E Greenville, NC	2.0	1.0	1050	$815	$0.78	23d	1	1.47mi
1111 Turtle Creek Rd Unit E Greenville, NC	2.0	2.0	1400	$1,400	$1.00	23d	1	1.50mi

HOA detail condo

• Monthly dues: $56 · $672/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-28
   status Pending
2. 2026-03-18
   listed $130,000 Active
3. 2021-12-16
   soldstatus $45,000

ⓘ 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: $1,077 · $90/mo
• Projected year-2 tax: $1,077 · $90/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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,493
• − Mortgage interest: −$7,282
• − Property taxes: −$1,077
• − Insurance: −$650
• − Repairs & maintenance: −$1,079
• − Management: −$1,079
• − HOA: −$672
• − Depreciation: −$3,782
• Taxable loss: −$2,128
• Est. tax savings @ 24.0%: +$511
• After-tax cash flow: $591/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: Pitt County Schools
• NCES district ID: 3700012
• Math proficiency: 41% ▬ 0.00%
• Reading proficiency: 44% ▲ 2.00%
• Median HH income: $40,631
• Composite: 35.67/100
• National rank: #4877
• State rank: #100 of 178 in NC

Livability — Greenville

• Score: 77/100
• State rank: #30
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NC
• County: Pitt County · 142,592 people
• City population: 115,121
• Metro: Greenville, NC
• Population (ZIP): 56,347
• Household income: $48,935
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 3319.0

Population outlook (Pitt County) Hauer SSP2

• Today (2025): 194,585 people
• By 2030: 203,756 · +4.7%
• By 2040: 220,807 · +13.5%
• By 2050: 236,614 · +21.6%
• By 2075: 275,940 · +41.8%
• By 2100: 300,058 · +54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 54% White 33% Hispanic / Latino 8% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · Pitt

• 2024 margin: Lean D (+6.0) · D 52.5% · R 46.5% · Other 1.1%
• 2008→2024 swing: -2.8pp toward R · 2008: 8.8pp · 2024: 6.0pp
• All cycles: 2024: D+6.0 2020: D+9.4 2016: D+7.4 2012: D+6.7 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.99%
• Current HPI: 190.6869
• Rent YoY: ▲ 5.44%
• Metro: Greenville, 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

+188.9% since first listed

3 events — show timeline

• 2026-04-28 Pending — Hive MLS
• 2026-03-18 Listed $130,000 Hive MLS
• 2021-12-16 Sold (Public Records) $45,000 Public Records

Property tax history

+13.1%/yr

Latest (2025): $1,077 · +1.1% YoY. Source: county tax records.