810 Vaughan St · Henderson, NC 27536

$90,000

2 bd · 1.0 ba · 959 sqft · SingleFamily public records · 222 Days on market

Built 1950 10,018 sqft lot Est $79k · 14% over ↓ 33% since listing

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Why this score? — see what drove the F 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 +15.3/30.0
• DSCR +4.7/10.0
• 1% rule +4.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Wow! Come check out this cute 2 bedroom, 1 bathroom home in Henderson! The open floor plan is great for entertaining or relaxing with loved ones. Come make this your home or rental.

Key facts

• 0.23 acre lot
• 2 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $33 ($398/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 $81k (9.7% below list).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.1% in Henderson — 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 (#583 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.
• Vance County Schools (rural): math 20% / reading 27% proficiency, ranked #166 of 178 in NC (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: E O Young Jr Elementary (math 8% / reading 22%, grade F, #1,325 of 1,410 statewide, top 94%, 179 students, 98% FRL); Vance County Middle School (math 13% / reading 17%, grade F, #459 of 475 statewide, top 97%, 797 students, 100% FRL); Vance County High School (math 12% / reading 27%, grade F, #499 of 535 statewide, top 94%, 958 students, 100% FRL) — zoned schools average 99% FRL vs 81% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 113 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 73 units permitted in Vance County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Vance County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 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 1950 — 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. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $78,638
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
326 Hamilton St	0.24mi	2/1.0	960 (+0%)	20mo	$78,334	$82	72
128 W Parker St	0.48mi	2/1.0	973 (+2%)	11mo	$160,000	$164	66
1109 N Pinkston St. St	0.62mi	2/1.0	956 (-0%)	10mo	$75,000	$78	62
504 Powell St	0.49mi	3/1.0 (+1)	960 (+0%)	23mo	$78,500	$82	52
116 N College St	0.66mi	2/1.0	1,052 (+10%)	11mo	$47,000	$45	44
102 Briarcliff St	0.68mi	3/1.0 (+1)	1,101 (+15%)	22mo	$165,000	$150	20

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: -13.8%
• Equity multiple: 0.51×
• Total profit: $-12,467
• Equity at exit: $13,419

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-8,118
• Equity at exit: $7,782

Cash invested: $25,200 (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 27536

• Active inventory: 113
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $813 high
• Mortgage (P&I): −$472
• Tax from tax record: −$99 /mo · $1,194/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $33

Break-even live

Break-even rent $771

Max offer price $90,000

Occupancy floor 91%

Sensitivity live

Price	-10% $84	-5% $59	+0% $33	+5% $8	+10% $-18
Rent	-10% $-31	-5% $1	+0% $33	+5% $65	+10% $97
Rate	-1.0pp $78	-0.5pp $56	base $33	+0.5pp $10	+1.0pp $-14

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 Crozier St Unit 242 Henderson, NC	2.0	1.0	672	$695	$1.03	15d	1	0.23mi
904 Burr St Henderson, NC	2.0	1.0	720	$725	$1.01	15d	1	0.24mi
976 Burr St Henderson, NC	2.0	1.0	750	$745	$0.99	15d	1	0.25mi
980 Burr St Henderson, NC	2.0	1.0	750	$745	$0.99	15d	1	0.25mi
865 Lamb St Henderson, NC	2.0	1.0	926	$695	$0.75	24d	1	0.27mi
909 Lamb St Henderson, NC	2.0	1.0	1083	$995	$0.92	24d	1	0.30mi
758 David St Henderson, NC	2.0	1.0	1020	$775	$0.76	20d	1	0.32mi
908 David St Henderson, NC	2.0	1.0	880	$775	$0.88	13d	1	0.33mi
527 Water St Henderson, NC	2.0	1.0	600	$695	$1.16	24d	1	0.41mi
992 Hughes St Henderson, NC	2.0	1.0	672	$705	$1.05	15d	1	0.43mi
1023 Hughes St Henderson, NC	2.0	1.0	845	$765	$0.91	4d	1	0.51mi
623 Farrar Ave Henderson, NC	2.0	1.0	728	$695	$0.95	24d	1	0.62mi
726 E Andrews Ave Henderson, NC	3.0	2.0	1068	$795	$0.74	24d	1	0.63mi
125 Wyche St Henderson, NC	1.0	1.0	548	$776	$1.42	2d	4	0.65mi
105 Holly Ct Henderson, NC	2.0	1.0	800	$795	$0.99	20d	1	0.72mi
1749 Old Norlina Rd Henderson, NC	3.0	1.0	928	$895	$0.96	4d	1	0.74mi
543 Horner St Henderson, NC	2.0	1.0	700	$695	$0.99	20d	1	0.94mi
102 Carter St Unit 104 Henderson, NC	2.0	1.0	672	$695	$1.03	15d	1	1.03mi
926 Gay St Henderson, NC	2.0	1.0	847	$825	$0.97	24d	1	1.13mi
923 Arch St Unit 925 Henderson, NC	2.0	1.0	684	$705	$1.03	15d	1	1.16mi
913 Lehman St Henderson, NC	3.0	1.0	966	$795	$0.82	24d	1	1.18mi
1027 Maple St Unit 1029 Henderson, NC	2.0	1.0	800	$775	$0.97	21d	1	1.22mi
1216 2nd St Henderson, NC	2.0	1.0	796	$995	$1.25	24d	1	1.36mi

Listing history 4 events

1. 2026-03-03
   status Pending
2. 2025-12-02
   price $90,000
3. 2025-11-06
   price $120,000
4. 2025-07-24
   listed $135,000 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: $1,194 · $99/mo
• Projected year-2 tax: $1,194 · $99/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $9,753
• − Mortgage interest: −$5,041
• − Property taxes: −$1,194
• − Insurance: −$450
• − Repairs & maintenance: −$780
• − Management: −$780
• − Depreciation: −$2,618
• Taxable loss: −$1,110
• Est. tax savings @ 24.0%: +$266
• After-tax cash flow: $664/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: Vance County Schools
• NCES district ID: 3704650
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 27% ▼ -5.00%
• Median HH income: $34,323
• Composite: 19.29/100
• National rank: #8801
• State rank: #166 of 178 in NC

Livability — Henderson

• Score: 58/100
• State rank: #583
• US rank: #21468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Henderson, NC
• County: Vance County · 15,298 people
• City population: 15,298
• Metro: Henderson, NC
• Population (ZIP): 15,298
• Household income: $39,985
• Rent vs Own: 62.3% rent · 37.7% own
• Severe rent burden: 1110.0

Population outlook (Vance County) Hauer SSP2

• Today (2025): 41,985 people
• By 2030: 40,286 · -4.0%
• By 2040: 36,372 · -13.4%
• By 2050: 32,466 · -22.7%
• By 2075: 24,229 · -42.3%
• By 2100: 17,784 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 60% White 26% Hispanic / Latino 12% Two or more races 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Serbian 1% Italian 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Arabic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Vance

• 2024 margin: D (+13.3) · D 56.3% · R 42.9%
• 2008→2024 swing: -13.3pp toward R · 2008: 26.6pp · 2024: 13.3pp
• All cycles: 2024: D+13.3 2020: D+19.2 2016: D+24.6 2012: D+28.3 2008: D+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.23%
• Current HPI: 198.8762
• Rent YoY: —
• Metro: Henderson, 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

-33.3% since first listed

4 events — show timeline

• 2026-03-03 Pending — TMLS
• 2025-12-02 Price Changed $90,000 TMLS
• 2025-11-06 Price Changed $120,000 TMLS
• 2025-07-24 Listed $135,000 TMLS

Property tax history

+13.9%/yr

Latest (2025): $1,194 · +13.9% YoY. Source: county tax records.