714 Leak St · Rockingham, NC 28379

$52,000

2 bd · 1.0 ba · 1,406 sqft · SingleFamily public records · 14 Days on market

Built 1950 7,405 sqft lot Est $90k · 42% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Are you searching for an investment property in the heart of Rockingham? This 2-bed, 1-bath home could be the perfect opportunity. With a little TLC, this property has the potential to become a solid income-producing rental. A great choice for investors looking to add to their portfolio or anyone ready to take on a light renovation project.

Key facts

• 7,405 sq ft lot
• Built 1950
• Listed 13 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Sewer available; Water available
• Home design: Single-family residence; One level
• Construction: Vinyl siding with frame construction
• Exterior features: Covered patio/porch; No fencing; Shingle roof; City street and state road frontage; Lot dimensions approximately 53 x 179 x 32 x 180

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Crawl space basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Cap rate 25.2% vs local median 6.0% in Rockingham — 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 63/100 on livability (#403 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: crime F, amenities F, commute F.
• Richmond County Schools (town): math 30% / reading 36% proficiency, ranked #139 of 178 in NC (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: L J Bell Elementary (math 31% / reading 39%, grade F, #825 of 1,410 statewide, top 59%, 476 students, 99% FRL); Rockingham Middle (math 24% / reading 35%, grade F, #343 of 475 statewide, top 73%, 616 students, 100% FRL); Richmond Senior High (math 58% / reading 38%, grade D, #329 of 535 statewide, top 62%, 1,286 students, 99% FRL) — zoned schools average 99% FRL vs 70% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 155 active listings in the ZIP; 54 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $360 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Richmond County population projected at -22% 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts; this cycle's ask has dropped $18k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $52k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% 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 $52,000

Questions for the listing agent

1. Built in 1950 — 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 D-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: 2.77% ✓
• Cap rate: 25.16%
• Cash-on-cash: 67.38%
• DSCR: 4.00
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $89,984
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 Leak St	0.21mi	2/1.0	1,371 (-2%)	22mo	$138,500	$101	67
611 Leak St	0.10mi	3/1.0 (+1)	1,200 (-15%)	1mo	$65,000	$54	65
201 S Brookwood Ave	0.58mi	2/1.5	1,344 (-4%)	4mo	$65,000	$48	60
313 Mcarthur Dr	0.50mi	3/2.0 (+1)	1,337 (-5%)	4mo	$195,000	$146	56
149 Hannah Pickett First Ave	0.73mi	3/2.0 (+1)	1,447 (+3%)	5mo	$92,500	$64	48
120 Seaboard St	0.68mi	3/2.0 (+1)	1,493 (+6%)	4mo	$47,000	$31	45
116 Brook Leigh Dr	0.70mi	2/2.0	1,591 (+13%)	16mo	$325,000	$204	28
424 Bryan St	0.73mi	3/2.0 (+1)	1,600 (+14%)	11mo	$40,000	$25	25

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: 66.7%
• Equity multiple: 4.00×
• Total profit: $43,640
• Equity at exit: $7,753

10-year hold

• IRR: 70.9%
• Equity multiple: 8.21×
• Total profit: $105,042
• Equity at exit: $4,496

Cash invested: $14,560 (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 28379

• Home prices YoY: -32.4%
• Active inventory: 155
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,442 medium
• Mortgage (P&I): −$273
• Tax from tax record: −$28 /mo · $331/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $818

Break-even live

Break-even rent $407

Max offer price $52,000

Occupancy floor 38%

Sensitivity live

Price	-10% $847	-5% $832	+0% $818	+5% $803	+10% $788
Rent	-10% $704	-5% $761	+0% $818	+5% $874	+10% $931
Rate	-1.0pp $844	-0.5pp $831	base $818	+0.5pp $804	+1.0pp $790

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $52,000 Active 14 DOM
2. 2026-06-18
   days on market $52,000 Active 13 DOM
3. 2026-06-17
   days on market $52,000 Active 12 DOM
4. 2026-06-16
   days on market $52,000 Active 11 DOM
5. 2026-06-15
   days on market $52,000 Active 10 DOM
6. 2026-06-14
   days on market $52,000 Active 8 DOM
7. 2026-06-13
   days on market $52,000 Active 7 DOM
8. 2026-06-10
   days on market $52,000 Active 5 DOM
9. 2026-06-09
   days on market $52,000 Active 4 DOM
10. 2026-06-08
    days on market $52,000 Active 3 DOM
11. 2026-06-07
    remarks 342-char remark
12. 2026-06-07
    pricedays on marketlisting id $52,000 Active 2 DOM
13. 2026-04-17
    status Active
14. 2026-04-12
    historical Active Under Contract
15. 2026-03-26
    status Active
16. 2026-03-26
    historical
17. 2026-03-12
    status Active
18. 2026-03-09
    historical Active Under Contract
19. 2026-02-21
    status Active
20. 2026-02-20
    historical
21. 2025-12-03
    status Active
22. 2025-12-03
    price $60,000
23. 2025-11-28
    historical
24. 2025-07-26
    price $65,000
25. 2025-05-23
    listed $70,000 Active
26. 2004-10-08
    soldstatus $18,000

ⓘ 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: $331 · $28/mo
• Projected year-2 tax: $426 · $36/mo
• Expected delta: +$96/yr (+$8/mo · 29.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $17,308
• − Mortgage interest: −$2,913
• − Property taxes: −$331
• − Insurance: −$260
• − Repairs & maintenance: −$1,385
• − Management: −$1,385
• − Depreciation: −$1,513
• Taxable income: $9,522
• Est. tax owed @ 24.0%: −$2,285
• After-tax cash flow: $7,525/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: Richmond County Schools
• NCES district ID: 3703870
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $32,224
• Composite: 26.97/100
• National rank: #7076
• State rank: #139 of 178 in NC

Livability — Rockingham

• Score: 63/100
• State rank: #403
• US rank: #15356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockingham, NC
• City population: 24,068
• Population (ZIP): 24,068

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 42,892 people
• By 2030: 41,257 · -3.8%
• By 2040: 37,629 · -12.3%
• By 2050: 33,655 · -21.5%
• By 2075: 23,992 · -44.1%
• By 2100: 14,782 · -65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 56% Black 32% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+20.9) · D 39.2% · R 60.1%
• 2008→2024 swing: -22.4pp toward R · 2008: 1.5pp · 2024: -20.9pp
• All cycles: 2024: R+20.9 2020: R+14.8 2016: R+10.1 2012: D+2.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.10%
• Current HPI: 203.0628
• Rent YoY: —
• Metro: —
• 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

+233.3% since first listed

14 events — show timeline

• 2026-04-17 Relisted — Hive MLS
• 2026-04-12 Contingent — Hive MLS
• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-03-12 Relisted — Hive MLS
• 2026-03-09 Contingent — Hive MLS
• 2026-02-21 Relisted — Hive MLS
• 2026-02-20 Listing Removed — Hive MLS
• 2025-12-03 Relisted — Hive MLS
• 2025-12-03 Price Changed $60,000 Hive MLS
• 2025-11-28 Listing Removed — Hive MLS
• 2025-07-26 Price Changed $65,000 Hive MLS
• 2025-05-23 Listed $70,000 Hive MLS
• 2004-10-08 Sold (Public Records) $18,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $331 · -1.6% YoY. Source: county tax records.