1521 Lewis St · Rocky Mount, NC 27804

$35,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 356 Days on market

Built 1910 4,900 sqft lot ↓ 50% since listing

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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 +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This property is being sold ''AS IS'' The house has been nearly entirely gutted and is ready for a full renovation or tear down. Please enter with extreme caution. It was purchased by the current owner as an investment but his primary residence is over an hour away and it resulted too far of a project to complete. Conveniently located less than 5 minutes from shopping and restaurants.

Key facts

• Full renovation
• Conveniently located
• 4,900 sq ft lot

Tags

• FULL RENOVATION
• CONVENIENTLY LOCATED

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: 2 open parking spaces
• Utilities: Public water; Sewer: unknown; No utilities listed
• Home design: One-story site-built home; Fixer condition
• Construction: Frame and stone veneer construction; Block foundation (see remarks); Shingle roof; Built on site
• Exterior features: Lot approximately 0.11 acres; Public maintained asphalt road

Interior

• Bedrooms: 2 bedrooms
• Flooring: See remarks
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating present (type: other — see remarks); No cooling
• Interior features: Flooring: see remarks

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $796 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.6% vs local median 4.5% in Rocky Mount — 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 70/100 on livability (#134 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, employment F.
• Nash-Rocky Mount Schools (rural): math 20% / reading 32% proficiency, ranked #155 of 178 in NC (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Baskerville Elementary (math 2% / reading 12%, grade F, #1,400 of 1,410 statewide, top 100%, 312 students, 98% FRL); J W Parker Middle (math 6% / reading 16%, grade F, #471 of 475 statewide, top 99%, 255 students, 92% FRL); Rocky Mount High (math 27% / reading 36%, grade F, #449 of 535 statewide, top 85%, 1,072 students, 76% FRL) — zoned schools average 88% FRL vs 59% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.2%/yr); 392 active listings in the ZIP; 500 units permitted in Nash County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Nash County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 356 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 356 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 3.66% ✓
• Cap rate: 33.58%
• Cash-on-cash: 97.45%
• DSCR: 5.34
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $100,224
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1420 Raymond St	0.15mi	2/1.0	840 (-3%)	3mo	$55,900	$67	86
1409 Mcdearman Ave	0.23mi	2/1.0	952 (+10%)	11mo	$110,000	$116	63

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 95.1%
• Equity multiple: 5.21×
• Total profit: $41,269
• Equity at exit: $5,219

10-year hold

• IRR: 97.3%
• Equity multiple: 9.85×
• Total profit: $86,723
• Equity at exit: $3,026

Cash invested: $9,800 (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 27804

• Rents YoY: -0.2%
• Active inventory: 392
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,280 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$17 /mo · $204/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $796

Break-even live

Break-even rent $272

Max offer price $35,000

Occupancy floor 33%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $35,000 Active 356 DOM
2. 2026-06-18
   days on market $35,000 Active 355 DOM
3. 2026-06-17
   days on market $35,000 Active 354 DOM
4. 2026-06-16
   days on market $35,000 Active 353 DOM
5. 2026-06-15
   days on market $35,000 Active 352 DOM
6. 2026-06-14
   days on market $35,000 Active 350 DOM
7. 2026-06-13
   days on market $35,000 Active 349 DOM
8. 2026-06-10
   days on market $35,000 Active 347 DOM
9. 2026-06-09
   days on market $35,000 Active 346 DOM
10. 2026-06-08
    days on market $35,000 Active 345 DOM
11. 2026-06-07
    days on market $35,000 Active 344 DOM
12. 2026-06-03
    days on market $35,000 Active 340 DOM
13. 2026-06-02
    days on market $35,000 Active 339 DOM
14. 2026-06-01
    days on market $35,000 Active 338 DOM
15. 2026-05-31
    days on market $35,000 Active 337 DOM
16. 2026-05-30
    days on market $35,000 Active 336 DOM
17. 2026-05-22
    price $35,000
18. 2026-03-08
    status Active
19. 2026-02-17
    status Pending
20. 2025-06-09
    listed $43,000 Active
21. 2023-09-19
    soldstatus $70,000

ⓘ 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: $204 · $17/mo
• Projected year-2 tax: $287 · $24/mo
• Expected delta: +$83/yr (+$7/mo · 40.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,356
• − Mortgage interest: −$1,961
• − Property taxes: −$204
• − Insurance: −$175
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$1,018
• Taxable income: $9,542
• Est. tax owed @ 24.0%: −$2,290
• After-tax cash flow: $7,260/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: Nash-Rocky Mount Schools
• NCES district ID: 3703270
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $41,553
• Composite: 22.04/100
• National rank: #8198
• State rank: #155 of 178 in NC

Livability — Rocky Mount

• Score: 70/100
• State rank: #134
• US rank: #7692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky Mount, NC
• County: Nash County · 50,768 people
• City population: 70,300
• Metro: Rocky Mount, NC
• Population (ZIP): 30,713
• Household income: $61,359
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 710.0

Population outlook (Nash County) Hauer SSP2

• Today (2025): 91,107 people
• By 2030: 89,193 · -2.1%
• By 2040: 84,959 · -6.7%
• By 2050: 80,517 · -11.6%
• By 2075: 72,941 · -19.9%
• By 2100: 63,602 · -30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 52% White 38% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Nash

• 2024 margin: Toss-up / Even · D 48.7% · R 50.5%
• 2008→2024 swing: -0.4pp no change · 2008: -1.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.2 2016: R+0.2 2012: D+0.9 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.83%
• Current HPI: 183.0082
• Rent YoY: ▼ -0.17%
• Metro: Rocky Mount, 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

-50.0% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $35,000 TMLS
• 2026-03-08 Relisted — TMLS
• 2026-02-17 Pending — TMLS
• 2025-06-09 Listed $43,000 TMLS
• 2023-09-19 Sold (Public Records) $70,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $204 · +0.0% YoY. Source: county tax records.