Lt 3b Albemarle Villas · Winfall, NC 27944

$264,990

3 bd · 2.5 ba · 1,775 sqft · Townhouse · 1 Days on market

Built 2026 Good condition 4,356 sqft lot $280/mo HOA · 11% 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 +10.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +4.4/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks

Grand Opening of Albemarle Villas - Limited-Time grand-opening incentives through 6/21! Discover effortless, low-maintenance living at Albemarle Villas, where thoughtfully designed homes feature main-level living and beautifully crafted spaces. Enjoy maintenance-free yards, 2-car garages, and access to exceptional multi-million-dollar amenities. Come experience the ease and elegance of villa living at Albemarle--schedule your tour today!

Key facts

• Main-level living
• $280 HOA
• 2 garage spots

Tags

• MAIN-LEVEL LIVING
• MAINTENANCE-FREE YARDS
• MULTI-MILLION-DOLLAR AMENITIES

Property features AI

Finance

• HOA & community: Homeowners association with annual fee (approximately $3,360 annually / $280 monthly); Community amenities include boat dock, marina, clubhouse, pool, fitness center, golf course, jogging path, playground, tennis courts, sport court, trails, dog park, storage, maintenance of grounds, and water access

Exterior

• Parking: Attached 2-car garage; Garage faces front; Covered parking on concrete
• Security: Community security
• Utilities: Cable available; Sewer available; Water available; Other utilities available
• Home design: Townhouse; Two levels (2 stories); Entry level: 1; New construction; Has view
• Construction: Fiber cement and frame construction; Shingle roof; Slab foundation
• Exterior features: Boat slip; Porch

Interior

• Kitchen: Refrigerator; Disposal; Dishwasher; ENERGY STAR qualified appliances; Electric range; Microwave; Electric water heater
• Bedrooms: Total rooms: 6
• Flooring: Carpet
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Electric heating; Other heating
• Interior features: Walk-in closets; Entrance foyer; Kitchen island; Pantry
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-136 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (5.7% below list).
• Recommended offer: $245k (7.4% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.6% in Winfall — 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 50/100 on livability (#705 in NC) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: amenities F, commute F, employment F.
• Perquimans County Schools (rural): math 44% / reading 48% proficiency, ranked #83 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perquimans Central (391 students, 65% FRL); Perquimans County Middle (math 39% / reading 48%, grade D, #182 of 475 statewide, top 40%, 366 students, 59% FRL); Perquimans County High (math 47% / reading 42%, grade F, #352 of 535 statewide, top 68%, 518 students, 59% FRL).
• Market conditions: 339 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 46 units permitted in Perquimans County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Perquimans County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $245,269 (7.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.20%
• DSCR: 0.90
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 2.83×
• Total profit: $135,850
• Equity at exit: $238,724

10-year hold

• IRR: 20.4%
• Equity multiple: 6.49×
• Total profit: $407,300
• Equity at exit: $514,817

Cash invested: $74,197 (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 27944

• Home prices YoY: 9.5%
• Active inventory: 339
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$280
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-136

Break-even live

Break-even rent $2,673

Max offer price $245,269

Occupancy floor —

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: $66,248
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
134 Cottonwood Dr Hertford, NC	3.0	3.0	2068	$2,500	$1.21	23d	1	1.34mi

HOA detail

• Monthly dues: $280 · $3,360/yr

Listing history 2 events

1. 2026-06-18
   remarks 441-char remark
2. 2026-06-18
   listed $264,990 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − HOA: −$3,360
• − Depreciation: −$7,709
• Taxable loss: −$6,012
• Est. tax savings @ 24.0%: +$1,443
• After-tax cash flow: $-193/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This townhouse is in excellent condition with modern amenities and a well-maintained exterior. It's move-in ready and would benefit from landscaping and smart home integration to further enhance its value.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Smart home integration — Improves convenience and adds modern appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Smart home integration — Improves convenience and adds modern appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Perquimans County Schools
• NCES district ID: 3703600
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 48% ▲ 7.00%
• Median HH income: $42,593
• Composite: 38.75/100
• National rank: #4124
• State rank: #83 of 178 in NC

Livability — Winfall

• Score: 50/100
• State rank: #705
• US rank: #25598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winfall, NC
• Population (ZIP): 11,255

Population outlook (Perquimans County) Hauer SSP2

• Today (2025): 13,018 people
• By 2030: 12,716 · -2.3%
• By 2040: 11,895 · -8.6%
• By 2050: 10,981 · -15.6%
• By 2075: 8,931 · -31.4%
• By 2100: 7,101 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 20% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada, China, Dominican Republic
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Perquimans

• 2024 margin: Solid R (+39.4) · D 29.7% · R 69.1% · Other 1.2%
• 2008→2024 swing: -25.4pp toward R · 2008: -13.9pp · 2024: -39.4pp
• All cycles: 2024: R+39.4 2020: R+32.2 2016: R+28.1 2012: R+16.1 2008: R+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.77%
• Current HPI: 261.91
• 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

1 event — show timeline

• 2026-06-18 Listed $264,990 Hive MLS