206 D Carlton St · Carthage, NC 28327

$225,000

3 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 59 Days on market

Built 1950 9,583 sqft lot Est $276k · 19% 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 +13.1/30.0
• Schools +4.4/10.0
• DSCR +3.9/10.0
• Rent growth +3.5/5.0
• Livability +3.1/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated 3 bedroom, 1 bathroom home in Carthage! This home is the perfect mix of original character and fresh updates. There are beautifully refinished hardwood floors throughout main living area and bedrooms with tile and LVP in the kitchen and bathroom as well as fresh paint. All new cabinets, flooring, appliances and countertops in the kitchen! It even comes with a washer and dryer! Conveniently located near the heart of Carthage with restaurants and stores.

Key facts

• Updated appliances
• Privacy screen
• Fenced in backyard

Tags

• HARDWOOD FLOORS
• FENCED IN BACKYARD
• WALK IN CLOSETS
• UPDATED APPLIANCES
• PRIVACY SCREEN

Property features AI

Finance

• Other: Zoned R-10
• HOA & community: No association amenities

Exterior

• Parking: Gravel off-street parking
• Utilities: Public water; Sewer available; Water available
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Vinyl siding with frame construction; Metal roof; Crawl space foundation; Built with one level
• Exterior features: Partial fencing; Has a view; No patio or porch

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Microwave; Pantry
• Bedrooms: Master downstairs
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Master bedroom on the main floor; Walk-in closet(s); Ceiling fan(s); Pantry; Window coverings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-9 ($-113/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (22.5% below list).
• Recommended offer: $174k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.3% in Carthage — 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 62/100 on livability (#450 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: employment C-, health & safety C-, amenities F.
• Moore County Schools (rural): math 48% / reading 54% proficiency, ranked #58 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carthage Elementary (math 42% / reading 57%, grade D, #417 of 1,410 statewide, top 32%, 332 students, 57% FRL); Crain'S Creek Middle (math 37% / reading 47%, grade D-, #199 of 475 statewide, top 43%, 592 students, 51% FRL); Union Pines High (math 63% / reading 70%, grade B, #150 of 535 statewide, top 28%, 1,438 students, 34% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 231 active listings in the ZIP; solid renter incomes; 941 units permitted in Moore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Moore County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 6y 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.
• Current owner paid $190k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 49% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,454 (22.5% 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 59 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.78% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $276,420
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 W Barrett St	0.26mi	2/1.0 (-1)	960 (-6%)	21mo	$260,000	$271	56
604 Walnut St	0.68mi	3/1.0	1,169 (+15%)	14mo	$225,000	$192	33

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 · 4.04% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.44×
• Total profit: $-35,292
• Equity at exit: $33,548

10-year hold

• IRR: -5.7%
• Equity multiple: 0.62×
• Total profit: $-24,084
• Equity at exit: $19,454

Cash invested: $63,000 (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 28327

• Home prices YoY: -33.0%
• Rents YoY: 4.0%
• Active inventory: 231
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,745 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$114 /mo · $1,367/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-9

Break-even live

Break-even rent $1,756

Max offer price $223,336

Occupancy floor 96%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-19
   days on market $225,000 Active 59 DOM
2. 2026-06-18
   days on market $225,000 Active 58 DOM
3. 2026-06-17
   days on market $225,000 Active 57 DOM
4. 2026-06-16
   days on market $225,000 Active 56 DOM
5. 2026-06-15
   days on market $225,000 Active 55 DOM
6. 2026-06-14
   days on market $225,000 Active 53 DOM
7. 2026-06-13
   days on market $225,000 Active 52 DOM
8. 2026-06-10
   days on market $225,000 Active 50 DOM
9. 2026-06-09
   days on market $225,000 Active 49 DOM
10. 2026-06-08
    days on market $225,000 Active 48 DOM
11. 2026-06-07
    days on market $225,000 Active 47 DOM
12. 2026-06-05
    days on market $225,000 Active 44 DOM
13. 2026-06-02
    days on market $225,000 Active 42 DOM
14. 2026-06-01
    days on market $225,000 Active 41 DOM
15. 2026-05-31
    days on market $225,000 Active 40 DOM
16. 2026-05-30
    days on market $225,000 Active 39 DOM
17. 2026-05-02
    status Active
18. 2026-04-25
    historical $1,700
19. 2026-04-23
    historical Active Under Contract
20. 2026-04-21
    listed $225,000 Active
21. 2026-04-08
    listed $1,700
22. 2026-03-02
    historical $1,700
23. 2026-01-31
    listed $1,700
24. 2023-04-25
    soldstatus $190,000 Closed 464-char remark

    Show marketing remark (464 chars)

    Updated 3 bedroom, 1 bathroom home in Carthage! This home is the perfect mix of original character and fresh updates. There are beautifully refinished hardwood floors throughout main living area and bedrooms with tile and LVP in the kitchen and bathroom as well as fresh paint. All new cabinets, flooring, appliances and countertops in the kitchen! It even comes with a washer and dryer! Conveniently located near the heart of Carthage with restaurants and stores.

25. 2023-04-25
    soldstatus $190,000

    Show marketing remark (464 chars)

    Updated 3 bedroom, 1 bathroom home in Carthage! This home is the perfect mix of original character and fresh updates. There are beautifully refinished hardwood floors throughout main living area and bedrooms with tile and LVP in the kitchen and bathroom as well as fresh paint. All new cabinets, flooring, appliances and countertops in the kitchen! It even comes with a washer and dryer! Conveniently located near the heart of Carthage with restaurants and stores.

26. 2023-03-22
    status Pending 464-char remark

    Show marketing remark (464 chars)

    Updated 3 bedroom, 1 bathroom home in Carthage! This home is the perfect mix of original character and fresh updates. There are beautifully refinished hardwood floors throughout main living area and bedrooms with tile and LVP in the kitchen and bathroom as well as fresh paint. All new cabinets, flooring, appliances and countertops in the kitchen! It even comes with a washer and dryer! Conveniently located near the heart of Carthage with restaurants and stores.

27. 2023-03-11
    status Active 464-char remark

    Show marketing remark (464 chars)

    Updated 3 bedroom, 1 bathroom home in Carthage! This home is the perfect mix of original character and fresh updates. There are beautifully refinished hardwood floors throughout main living area and bedrooms with tile and LVP in the kitchen and bathroom as well as fresh paint. All new cabinets, flooring, appliances and countertops in the kitchen! It even comes with a washer and dryer! Conveniently located near the heart of Carthage with restaurants and stores.

28. 2023-02-24
    status Pending 464-char remark

    Show marketing remark (464 chars)

    Updated 3 bedroom, 1 bathroom home in Carthage! This home is the perfect mix of original character and fresh updates. There are beautifully refinished hardwood floors throughout main living area and bedrooms with tile and LVP in the kitchen and bathroom as well as fresh paint. All new cabinets, flooring, appliances and countertops in the kitchen! It even comes with a washer and dryer! Conveniently located near the heart of Carthage with restaurants and stores.

29. 2023-02-22
    listed $195,000 Active 464-char remark

    Show marketing remark (464 chars)

    Updated 3 bedroom, 1 bathroom home in Carthage! This home is the perfect mix of original character and fresh updates. There are beautifully refinished hardwood floors throughout main living area and bedrooms with tile and LVP in the kitchen and bathroom as well as fresh paint. All new cabinets, flooring, appliances and countertops in the kitchen! It even comes with a washer and dryer! Conveniently located near the heart of Carthage with restaurants and stores.

30. 2022-12-19
    soldstatus $105,000 Closed 240-char remark

    Show marketing remark (240 chars)

    Adorable 3 bedroom bungalow looking for love. This home just needs to be brought to the finish line with paint, minor repairs and a good old fashioned scrubbing! In this hard to find price point this home is definitely worth taking a look.

31. 2022-11-30
    status Pending 240-char remark

    Show marketing remark (240 chars)

    Adorable 3 bedroom bungalow looking for love. This home just needs to be brought to the finish line with paint, minor repairs and a good old fashioned scrubbing! In this hard to find price point this home is definitely worth taking a look.

32. 2022-11-16
    listed $130,000 Active 240-char remark

    Show marketing remark (240 chars)

    Adorable 3 bedroom bungalow looking for love. This home just needs to be brought to the finish line with paint, minor repairs and a good old fashioned scrubbing! In this hard to find price point this home is definitely worth taking a look.

33. 2020-06-15
    listed $91,000

ⓘ 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: $1,367 · $114/mo
• Projected year-2 tax: $1,845 · $154/mo
• Expected delta: +$478/yr (+$40/mo · 35.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 49% 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: $20,934
• − Mortgage interest: −$12,603
• − Property taxes: −$1,367
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$6,545
• Taxable loss: −$4,056
• Est. tax savings @ 24.0%: +$973
• After-tax cash flow: $860/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: Moore County Schools
• NCES district ID: 3703090
• Math proficiency: 48% ▲ 5.00%
• Reading proficiency: 54% ▲ 5.00%
• Median HH income: $50,333
• Composite: 43.63/100
• National rank: #2967
• State rank: #58 of 178 in NC

Livability — Carthage

• Score: 62/100
• State rank: #450
• US rank: #16574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carthage, NC
• County: Moore County · 75,247 people
• City population: 19,386
• Metro: Pinehurst-Southern Pines, NC
• Population (ZIP): 19,386
• Household income: $87,434
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 156.0

Population outlook (Moore County) Hauer SSP2

• Today (2025): 106,902 people
• By 2030: 113,134 · +5.8%
• By 2040: 125,682 · +17.6%
• By 2050: 137,811 · +28.9%
• By 2075: 164,387 · +53.8%
• By 2100: 175,595 · +64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Black 6% Two or more races 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 5% Italian 3% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Moore

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -8.1pp toward R · 2008: -21.4pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+27.4 2016: R+29.6 2012: R+28.1 2008: R+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.86%
• Current HPI: 190.6404
• Rent YoY: ▲ 4.04%
• Metro: Pinehurst-Southern Pines, 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

-98.1% since first listed

17 events — show timeline

• 2026-05-02 Relisted — Hive MLS
• 2026-04-25 Rental Removed $1,700 TENANTCLOUD
• 2026-04-23 Contingent — Hive MLS
• 2026-04-21 Listed $225,000 Hive MLS
• 2026-04-08 Listed for Rent $1,700 TENANTCLOUD
• 2026-03-02 Rental Removed $1,700 TENANTCLOUD
• 2026-01-31 Listed for Rent $1,700 TENANTCLOUD
• 2023-04-25 Sold (Public Records) $190,000 Public Records
• 2023-04-25 Sold (MLS) $190,000 Hive MLS
• 2023-03-22 Pending — Hive MLS
• 2023-03-11 Relisted — Hive MLS
• 2023-02-24 Pending — Hive MLS
• 2023-02-22 Listed $195,000 Hive MLS
• 2022-12-19 Sold (MLS) $105,000 Hive MLS
• 2022-11-30 Pending — Hive MLS
• 2022-11-16 Listed $130,000 Hive MLS
• 2020-06-15 Listed $91,000 LPRMLS

Property tax history

+9.2%/yr

Latest (2024): $1,367 · -3.1% YoY. Source: county tax records.