909 Monroe St · Roanoke Rapids, NC 27870

$149,000

3 bd · 1.0 ba · 2,224 sqft · SingleFamily public records · 171 Days on market

Built 1887 0.32 ac lot Est $256k · 42% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.6/30.0
• DSCR +3.8/10.0
• 1% rule +3.7/10.0
• Schools +2.9/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step back in time with this 1887 historic beauty! Located at 909 Monroe St, this charming home offers original hardwood floors, 4 bedrooms, 2.5 baths, including one bedroom on the main level and three upstairs. The classic layout, high ceilings, and character throughout make this a rare find. Situated in RRGSD, this home is perfect for someone ready to restore and bring new life into a piece of local history. Home needs some TLC and is being sold as-is, offering a great opportunity for investors or buyers with vision. Christmas Special — bring us an offer! Seller is motivated and ready to make a deal this holiday season. Bring your ideas and make this timeless property shine again!

Key facts

• Classic layout
• High ceilings
• 0.32 acre lot

Tags

• ORIGINAL HARDWOOD FLOORS
• CLASSIC LAYOUT
• HIGH CEILINGS

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Residential property; Residential/Vacation subtype; Two levels
• Construction: No basement
• Exterior features: Garden; Front porch; Has a view

Interior

• Flooring: Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump and oil heating; Central air conditioning
• Interior features: Entrance foyer; Wood flooring; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $-19 ($-227/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (13.4% below list).
• Recommended offer: $129k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.1% in Roanoke Rapids — 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 56/100 on livability (#631 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.
• Roanoke Rapids City Schools (town): math 31% / reading 37% proficiency, ranked #135 of 178 in NC (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Belmont Elementary School (math 22% / reading 26%, grade F, #1,153 of 1,410 statewide, top 82%, 595 students, 100% FRL); Chaloner Middle School (math 31% / reading 40%, grade F, #279 of 475 statewide, top 60%, 616 students, 100% FRL); Roanoke Rapids High School (math 52% / reading 37%, grade F, #352 of 535 statewide, top 68%, 783 students, 100% FRL) — zoned schools average 100% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 147 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 55 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($50k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Halifax County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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 $129,056 (13.4% 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. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.87% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.54%
• DSCR: 0.98
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $255,760
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 Monroe St	0.00mi	4/2.5 (+1)	2,109 (-5%)	1mo	$127,000	$60	80
508 Roanoke Ave	0.61mi	3/2.0	2,041 (-8%)	17mo	$235,000	$115	40

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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-25,322
• Equity at exit: $22,216

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-23,498
• Equity at exit: $12,883

Cash invested: $41,720 (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 27870

• Home prices YoY: -21.1%
• Active inventory: 147
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,291 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$195 /mo · $2,340/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-19

Break-even live

Break-even rent $1,314

Max offer price $145,665

Occupancy floor 96%

Sensitivity live

Price	-10% $65	-5% $23	+0% $-19	+5% $-61	+10% $-103
Rent	-10% $-121	-5% $-70	+0% $-19	+5% $32	+10% $83
Rate	-1.0pp $56	-0.5pp $19	base $-19	+0.5pp $-57	+1.0pp $-97

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
427 Cedar St Roanoke Rapids, NC	3.0	2.0	1942	$1,450	$0.75	45d	1	0.68mi
1215 Carolina Ave Roanoke Rapids, NC	2.0	2.0	1465	$1,200	$0.82	45d	1	1.12mi

Listing history 4 events

1. 2025-12-05
   listed $149,000 Active
2. 2024-08-29
   historical $995
3. 2024-08-06
   listed $995
4. 2022-06-04
   price $975

ⓘ 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: $2,340 · $195/mo
• Projected year-2 tax: $2,340 · $195/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% 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: $15,487
• − Mortgage interest: −$8,346
• − Property taxes: −$2,340
• − Insurance: −$745
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$4,335
• Taxable loss: −$2,757
• Est. tax savings @ 24.0%: +$662
• After-tax cash flow: $435/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: Roanoke Rapids City Schools
• NCES district ID: 3703900
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $41,604
• Composite: 28.7/100
• National rank: #6689
• State rank: #135 of 178 in NC

Livability — Roanoke Rapids

• Score: 56/100
• State rank: #631
• US rank: #22900

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

• Census place: Roanoke Rapids, NC
• County: Halifax County · 24,958 people
• City population: 24,958
• Metro: Roanoke Rapids, NC
• Population (ZIP): 24,958
• Household income: $49,502
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 822.0

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 47,976 people
• By 2030: 45,450 · -5.3%
• By 2040: 39,980 · -16.7%
• By 2050: 34,863 · -27.3%
• By 2075: 25,577 · -46.7%
• By 2100: 18,365 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 47% Black 40% Two or more races 7% Hispanic / Latino 5% Asian 1%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Halifax

• 2024 margin: D (+17.7) · D 58.5% · R 40.9%
• 2008→2024 swing: -10.6pp toward R · 2008: 28.2pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+21.2 2016: D+26.9 2012: D+32.0 2008: D+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.78%
• Current HPI: 179.1705
• Rent YoY: —
• Metro: Roanoke Rapids, 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

4 events — show timeline

• 2025-12-05 Listed $149,000 RVLG
• 2024-08-29 Rental Removed $995 RENTLY
• 2024-08-06 Listed for Rent $995 RENTLY
• 2022-06-04 Price Changed $975 RENTLY

Property tax history

+3.5%/yr

Latest (2025): $2,340 · +1.1% YoY. Source: county tax records.