182 Beech Springs Rd · Hertford, NC 27944

$120,000

2 bd · 1.5 ba · 1,568 sqft · Manufactured public records · 44 Days on market

Built 1969 2.60 ac 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Bring your style and creativity! Just over 2.5 acres in a rural setting with no HOA, this home has plenty of potential. 2 bdrm. / 1.5 bath includes additional space inside that was added during remodeling. Outside, you'll find a closed-in front porch, carport, back deck, and sheds. Home sold as-is, cash only. Sale subject to court approval and 10-day upset bid process.

Key facts

• Carport
• Back deck
• Sheds

Tags

• CLOSED-IN FRONT PORCH
• CARPORT
• BACK DECK
• SHEDS
• ADDITIONAL SPACE

Property features AI

Exterior

• Parking: Has carport (1 space); Covered, unpaved parking
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank sewer; Other utilities
• Home design: Manufactured home; One-level / single-story; Entry level: 1
• Construction: Aluminum and vinyl siding with frame construction; Block foundation; Composition roof
• Exterior features: Covered patio/porch; Deck; Front porch; Glass-enclosed porch; Shed(s); Has view; Road frontage on city street and state road; Lot irregularly shaped; Lot approximately 2.6 acres; Zoned RS

Interior

• Kitchen: Electric oven; Electric water heater
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Cooling (other)
• Interior features: Ceiling fan(s); Window coverings; Smoke detector(s)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 2.2% in Hertford — 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 58/100 on livability (#570 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, 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; 46 units permitted in Perquimans County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.32% ✓
• Cap rate: 11.65%
• Cash-on-cash: 19.12%
• DSCR: 1.85
• GRM: 6.3

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: 38.5%
• Equity multiple: 3.96×
• Total profit: $99,397
• Equity at exit: $108,106

10-year hold

• IRR: 33.1%
• Equity multiple: 8.91×
• Total profit: $265,805
• Equity at exit: $233,134

Cash invested: $33,600 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$34 /mo · $405/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $535

Break-even live

Break-even rent $903

Max offer price $120,000

Occupancy floor 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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $120,000 Active 44 DOM
2. 2026-06-18
   days on market $120,000 Active 43 DOM
3. 2026-06-17
   days on market $120,000 Active 42 DOM
4. 2026-06-16
   days on market $120,000 Active 41 DOM
5. 2026-06-15
   days on market $120,000 Active 40 DOM
6. 2026-06-14
   days on market $120,000 Active 38 DOM
7. 2026-06-12
   days on market $120,000 Active 37 DOM
8. 2026-06-09
   days on market $120,000 Active 34 DOM
9. 2026-06-08
   days on market $120,000 Active 33 DOM
10. 2026-06-07
    days on market $120,000 Active 32 DOM
11. 2026-06-03
    days on market $120,000 Active 28 DOM
12. 2026-06-02
    days on market $120,000 Active 27 DOM
13. 2026-06-01
    days on market $120,000 Active 26 DOM
14. 2026-05-31
    days on market $120,000 Active 25 DOM
15. 2026-05-30
    days on market $120,000 Active 24 DOM
16. 2026-05-06
    price $120,000
17. 2026-05-06
    listed $115,000 Active

ⓘ 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: $405 · $34/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$579/yr (+$48/mo · 142.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 39% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,961
• − Mortgage interest: −$6,722
• − Property taxes: −$405
• − Insurance: −$600
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$3,491
• Taxable income: $4,710
• Est. tax owed @ 24.0%: −$1,130
• After-tax cash flow: $5,292/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: 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 — Hertford

• Score: 58/100
• State rank: #570
• US rank: #21148

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• 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

+4.3% since first listed

2 events — show timeline

• 2026-05-06 Price Changed $120,000 Hive MLS
• 2026-05-06 Listed $115,000 Hive MLS

Property tax history

+2.2%/yr

Latest (2025): $405 · +0.0% YoY. Source: county tax records.