1401 Hargrove St · Rocky Mount, NC 27801

$115,000

2 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 3 Days on market

Built 1955 8,712 sqft lot Est $104k · 10% over

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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 +26.7/30.0
• DSCR +9.1/10.0
• 1% rule +5.9/10.0
• Livability +3.5/5.0
• ARV discount +2.9/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

If you're looking to add to your portfolio, this is a great opportunity. The property already has a reliable tenant in place who currently pays $675 per month, providing immediate rental income from day one. Whether you're a seasoned investor or just starting to build your rental portfolio, this property offers steady cash flow. Don't miss the chance to own an income-producing property with an established tenant already in place.

Key facts

• 8,712 sq ft lot
• Built 1955
• Listed 2 days

Property features AI

Exterior

• Parking: Unpaved parking
• Utilities: Other utilities
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Brick and frame construction; Block foundation; Built on one level
• Exterior features: Corner lot; City street and state road frontage; No patio or porch; No fencing; Composition roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Central air conditioning; Natural gas heating; 5 total rooms; Has a view

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 9.5% 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: schools F, crime F, amenities F.
• Edgecombe County Public Schools (rural): math 21% / reading 27% proficiency, ranked #163 of 178 in NC (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 133 active listings in the ZIP; lower-income renter base — watch delinquency; 50 units permitted in Edgecombe County in 2024 (5 in 5+ unit buildings).
• This rent runs 33% of the median local income ($45k/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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Edgecombe County population projected at -34% 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 $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $34k; list at $115k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% 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 $115,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.57%
• DSCR: 1.51
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $104,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1214 Cypress St	0.13mi	3/1.5 (+1)	1,064 (0%)	13mo	$133,000	$125	76
1410 Branch St	0.11mi	2/1.0	990 (-7%)	13mo	$28,000	$28	73
1525 Hargrove St	0.13mi	3/1.0 (+1)	1,020 (-4%)	11mo	$100,000	$98	73
805 Tyan St	0.23mi	3/1.0 (+1)	1,163 (+9%)	13mo	$65,000	$56	58
540 Lincoln Dr	0.56mi	3/2.0 (+1)	1,067 (+0%)	9mo	$128,000	$120	57
727 Long Ave	0.45mi	2/1.0	1,177 (+11%)	10mo	$40,000	$34	53
1317 Proctor St	0.51mi	3/1.5 (+1)	1,107 (+4%)	11mo	$140,000	$126	53
1121 Hill St	0.61mi	3/1.0 (+1)	1,104 (+4%)	10mo	$110,000	$100	52
225 Hendricks St	0.54mi	2/1.0	1,203 (+13%)	2mo	$20,000	$17	51
929 Tyan St	0.26mi	3/2.0 (+1)	1,187 (+12%)	10mo	$90,000	$76	51
517 Lincoln Dr	0.53mi	3/1.5 (+1)	1,008 (-5%)	16mo	$112,000	$111	47
1104 Long Ave	0.57mi	3/1.0 (+1)	983 (-8%)	13mo	$55,000	$56	45

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,080
• Equity at exit: $17,147

10-year hold

• IRR: 10.5%
• Equity multiple: 1.81×
• Total profit: $26,177
• Equity at exit: $9,943

Cash invested: $32,200 (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 27801

• Home prices YoY: -5.6%
• Active inventory: 133
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$26 /mo · $311/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $310

Break-even live

Break-even rent $857

Max offer price $115,000

Occupancy floor 70%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $115,000 Active 3 DOM
2. 2026-06-18
   days on market $115,000 Active 2 DOM
3. 2026-06-17
   remarks 433-char remark
4. 2026-06-17
   listed $115,000 Active 1 DOM

ⓘ 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: $311 · $26/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$632/yr (+$53/mo · 203.1%)

ⓘ 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 ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $14,997
• − Mortgage interest: −$6,442
• − Property taxes: −$311
• − Insurance: −$575
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,345
• Taxable income: $1,924
• Est. tax owed @ 24.0%: −$462
• After-tax cash flow: $3,263/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: Edgecombe County Public Schools
• NCES district ID: 3701320
• Math proficiency: 21% ▼ -2.00%
• Reading proficiency: 27% ▲ 2.00%
• Median HH income: $35,711
• Composite: 19.85/100
• National rank: #8696
• State rank: #163 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: Edgecombe County · 37,913 people
• City population: 70,300
• Metro: Rocky Mount, NC
• Population (ZIP): 19,532
• Household income: $44,884
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 900.0

Population outlook (Edgecombe County) Hauer SSP2

• Today (2025): 47,800 people
• By 2030: 44,396 · -7.1%
• By 2040: 37,562 · -21.4%
• By 2050: 31,495 · -34.1%
• By 2075: 20,943 · -56.2%
• By 2100: 13,674 · -71.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 24% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Edgecombe

• 2024 margin: Strong D (+22.7) · D 61.0% · R 38.3%
• 2008→2024 swing: -11.8pp toward R · 2008: 34.5pp · 2024: 22.7pp
• All cycles: 2024: D+22.7 2020: D+27.0 2016: D+32.2 2012: D+36.4 2008: D+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.65%
• Current HPI: 296.3428
• Rent YoY: —
• 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

+666.7% since first listed

3 events — show timeline

• 2026-06-16 Listed $115,000 Hive MLS
• 2005-04-01 Sold (Public Records) $34,000 Public Records
• 1999-04-30 Sold (Public Records) $15,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $311 · +0.0% YoY. Source: county tax records.