636 Community Center Dr · Kinston, NC 28504

$125,000

4 bd · 0.5 ba · 1,976 sqft · Manufactured public records · 318 Days on market

Built 2004 1.13 ac lot

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Why this score? — see what drove the C+ 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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD AS IS. SELLER MAKES NO REPAIRS. HUD CASE3 381-754830. FHA INSURED WITH ESCROW. HUD, IT'S AGENTS AND OR ASSIGNS MAKES NO REPRESENTATIONS AS TO THE EXISTENCE OF MOLD, RADON OR LEAD BASED PAINT AND IS NOT LIABLE FOR THE POTENTIALLY HARMFUL EFFECTS THEREOF.

Key facts

• Formal dining room
• Split floor plan
• Gas fireplace

Tags

• UNRESTRICTED AGRICULTURAL LAND
• SPLIT FLOOR PLAN
• GAS FIREPLACE
• BUILT-IN SHELVING
• NATURAL LIGHT
• FORMAL DINING ROOM

Property features AI

Finance

• Other: Lot approx. 1.13 acres; Zoned agricultural; Road frontage: easement/none/unimproved (see remarks for frontage details)
• Financial info: No financial or investor-specific information listed
• HOA & community: Not in a subdivision

Exterior

• Parking: Unpaved parking
• Security: No security features listed
• Utilities: Well water; Water is connected; Septic tank
• Home design: Manufactured home (residential); One-level / single-story; Entry on level 1
• Construction: Brick veneer, vinyl siding, and frame construction; Shingle roof; Permanent foundation; Built as manufactured construction
• Exterior features: No specified exterior features; No patio or porch; No fencing; Has view; Lot characterized as farm

Interior

• Kitchen: Kitchen island; No built-in appliances listed
• Bedrooms: Bedrooms not individually listed
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Walk-in closet(s); Kitchen island; Accessible full bath; Has basement with dirt floor
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/0.5-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.8% in Kinston — 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 55/100 on livability (#640 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.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southwood Elementary (math 27% / reading 22%, grade F, #1,112 of 1,410 statewide, top 82%, 241 students, 99% FRL); Woodington Middle (math 31% / reading 43%, grade F, #262 of 475 statewide, top 57%, 577 students, 100% FRL); South Lenoir High (math 52% / reading 42%, grade D-, #334 of 535 statewide, top 64%, 771 students, 99% FRL) — zoned schools average 99% FRL vs 65% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 127 active listings in the ZIP; 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lenoir County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 318 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $35k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $125k implies a 525% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 318 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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. 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: 1.17% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.76%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,587
• Equity at exit: $18,638

10-year hold

• IRR: 10.8%
• Equity multiple: 1.84×
• Total profit: $29,487
• Equity at exit: $10,808

Cash invested: $35,000 (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 28504

• Home prices YoY: -12.7%
• Active inventory: 127
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,467 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$108 /mo · $1,302/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $343

Break-even live

Break-even rent $1,033

Max offer price $125,000

Occupancy floor 72%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $125,000 Active 318 DOM
2. 2026-06-18
   days on market $125,000 Active 317 DOM
3. 2026-06-17
   days on market $125,000 Active 316 DOM
4. 2026-06-16
   days on market $125,000 Active 315 DOM
5. 2026-06-15
   days on market $125,000 Active 314 DOM
6. 2026-06-14
   days on market $125,000 Active 312 DOM
7. 2026-06-12
   days on market $125,000 Active 311 DOM
8. 2026-06-09
   days on market $125,000 Active 308 DOM
9. 2026-06-08
   days on market $125,000 Active 307 DOM
10. 2026-06-07
    days on market $125,000 Active 306 DOM
11. 2026-06-07
    pricedays on market $125,000 Active 305 DOM
12. 2026-06-04
    statusdays on market $135,000 Active 302 DOM
13. 2026-06-02
    days on market $135,000 Active Under Contract 301 DOM
14. 2026-06-01
    days on market $135,000 Active Under Contract 300 DOM
15. 2026-05-31
    days on market $135,000 Active Under Contract 299 DOM
16. 2026-05-31
    days on market $135,000 Active Under Contract 298 DOM
17. 2026-05-23
    historical Active Under Contract
18. 2026-04-15
    price $135,000
19. 2026-03-07
    status Active
20. 2025-12-29
    historical Active Under Contract
21. 2025-08-26
    price $150,000
22. 2025-08-04
    listed $160,000 Active
23. 2012-05-08
    soldstatus $20,000 258-char remark

    Show marketing remark (252 chars)

    SOLD AS IS. SELLER MAKES NO REPAIRS. HUD CASE #381-754830. FHA INUSRED WITH ESCROW. HUD, IT'S AGENTS AND OR ASSIGNS MAKES NO REPRESENTATIONS AS TO THE EXISTENCE OF MOLD, RADON OR LEAD BASED PAINT AND IS NOT LIABLE FOR THE POTENTIALLY HARMFUL EFFECTS TH

24. 2012-05-08
    soldstatus $20,000 252-char remark

    Show marketing remark (252 chars)

    SOLD AS IS. SELLER MAKES NO REPAIRS. HUD CASE #381-754830. FHA INUSRED WITH ESCROW. HUD, IT'S AGENTS AND OR ASSIGNS MAKES NO REPRESENTATIONS AS TO THE EXISTENCE OF MOLD, RADON OR LEAD BASED PAINT AND IS NOT LIABLE FOR THE POTENTIALLY HARMFUL EFFECTS TH

25. 2012-03-08
    listed $22,000 258-char remark

    Show marketing remark (252 chars)

    SOLD AS IS. SELLER MAKES NO REPAIRS. HUD CASE #381-754830. FHA INUSRED WITH ESCROW. HUD, IT'S AGENTS AND OR ASSIGNS MAKES NO REPRESENTATIONS AS TO THE EXISTENCE OF MOLD, RADON OR LEAD BASED PAINT AND IS NOT LIABLE FOR THE POTENTIALLY HARMFUL EFFECTS TH

26. 2012-03-08
    listed $22,000 252-char remark

    Show marketing remark (252 chars)

    SOLD AS IS. SELLER MAKES NO REPAIRS. HUD CASE #381-754830. FHA INUSRED WITH ESCROW. HUD, IT'S AGENTS AND OR ASSIGNS MAKES NO REPRESENTATIONS AS TO THE EXISTENCE OF MOLD, RADON OR LEAD BASED PAINT AND IS NOT LIABLE FOR THE POTENTIALLY HARMFUL EFFECTS TH

ⓘ 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: $1,302 · $108/mo
• Projected year-2 tax: $1,302 · $108/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 5/10 Major FEMA zone X (shaded) · 36% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,607
• − Mortgage interest: −$7,002
• − Property taxes: −$1,302
• − Insurance: −$625
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$3,636
• Taxable income: $2,225
• Est. tax owed @ 24.0%: −$534
• After-tax cash flow: $3,583/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — Kinston

• Score: 55/100
• State rank: #640
• US rank: #23267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lenoir County · 20,407 people
• City population: 20,407
• Metro: Kinston, NC
• Population (ZIP): 20,407
• Household income: $53,583
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 575.0

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Black 33% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Serbian 1% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.45%
• Current HPI: 201.8226
• Rent YoY: —
• Metro: Kinston, 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

+513.6% since first listed

10 events — show timeline

• 2026-05-23 Contingent — Hive MLS
• 2026-04-15 Price Changed $135,000 Hive MLS
• 2026-03-07 Relisted — Hive MLS
• 2025-12-29 Contingent — Hive MLS
• 2025-08-26 Price Changed $150,000 Hive MLS
• 2025-08-04 Listed $160,000 Hive MLS
• 2012-05-08 Sold (MLS) $20,000 Hive MLS
• 2012-05-08 Sold (MLS) $20,000 Hive MLS
• 2012-03-08 Listed $22,000 Hive MLS
• 2012-03-08 Listed $22,000 Hive MLS

Property tax history

+7.2%/yr

Latest (2025): $1,302 · +112.0% YoY. Source: county tax records.