4109 Laurel Ridge Dr · Greenville, NC 27834

$220,000

3 bd · 2.5 ba · 1,502 sqft · Townhouse · 22 Days on market

Built 2023 Good condition 1,307 sqft lot Est $245k · 10% under $125/mo HOA · 6% of rent

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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).

• Cash flow +12.2/30.0
• ARV discount +12.1/15.0
• 1% rule +4.2/10.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover the perfect blend of comfort and convenience at this Laurel Ridge Townhome in Greenville, NC. This well-appointed two-story home offers 3 bedrooms, 2.5 bathrooms, and a spacious open-concept floor plan designed for both entertaining and everyday living. The home features a stylish kitchen with granite countertops, stainless steel appliances, and ample cabinet space, complemented by energy-efficient lighting and smart home technology. Upstairs, you'll find comfortable bedrooms with generous closet space and thoughtfully designed layouts that provide both privacy and functionality. Enjoy added perks like a walk-in closet in the primary suite and a private patio that enhances outdoor

Key facts

• Stylish kitchen
• Granite countertops
• $125 HOA

Tags

• OPEN-CONCEPT FLOOR PLAN
• STYLISH KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• ENERGY-EFFICIENT LIGHTING
• SMART HOME TECHNOLOGY

Property features AI

Finance

• Other: Zoning: R6; Subdivision: Laurel Ridge; Directions: Greenville Blvd to Allen Road. Turn left onto Laurel Ridge Drive
• HOA & community: Homeowners association with management and grounds maintenance; Association fee $1,500 annually (about $125/month)

Exterior

• Parking: Parking lot
• Utilities: Public water; Sewer connected; Water connected
• Home design: Townhouse; Two levels; Entry level: 1; Facing information not provided
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built year not provided
• Exterior features: Patio; Street lights in the community; Has view; Paved road access

Interior

• Kitchen: Refrigerator; Dishwasher; Electric range; Microwave
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air; Heat pump; Electric heating; Forced air
• Interior features: Walk-in closets; Window coverings; Accessible full bathroom
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $220k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-46 ($-555/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (8.0% below list).
• Recommended offer: $202k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.8% in Greenville — 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 77/100 on livability (#30 in NC, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, employment F.
• Pitt County Schools (rural): math 41% / reading 44% proficiency, ranked #100 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lakeforest Elementary (math 22% / reading 30%, grade F, #1,085 of 1,410 statewide, top 77%, 804 students, 98% FRL); Farmville Middle (math 31% / reading 35%, grade F, #305 of 475 statewide, top 65%, 611 students, 100% FRL); Farmville Central High (math 42% / reading 47%, grade F, #352 of 535 statewide, top 68%, 789 students, 99% FRL) — zoned schools average 99% FRL vs 56% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 356 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).
• At $2,024/mo this rent would consume 50% of the median local household income ($49k/yr) (locally 3319% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Pitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Recommended offer $202,421 (8.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
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: 0.92% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.90%
• DSCR: 0.96
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $244,826
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4109 Laurel Ridge Dr	0.00mi	3/2.5	1,502 (0%)	0mo	$220,000	$146	100
2224 S Kali Ln Unit B	0.42mi	3/2.5	1,537 (+2%)	2mo	$242,000	$157	75
2245 Sweet Bay Dr Unit A	0.31mi	3/2.0	1,408 (-6%)	1mo	$248,500	$176	72
2144 Flagstone Ct Unit K-1	0.56mi	3/2.5	1,452 (-3%)	1mo	$174,000	$120	68
2128 Flagstone Ct Unit G1	0.53mi	3/2.5	1,426 (-5%)	0mo	$155,000	$109	66
2601 Nexus Dr Unit A	0.31mi	3/2.5	1,684 (+12%)	1mo	$277,400	$165	64
2601 Nexus Dr Unit B	0.31mi	3/2.5	1,684 (+12%)	1mo	$277,400	$165	64
4301 Laurel Ridge Dr Unit B	0.34mi	3/2.5	1,684 (+12%)	1mo	$277,400	$165	63
2604 Nexus Dr Unit A	0.34mi	3/2.5	1,714 (+14%)	1mo	$279,900	$163	60
2445 A Brookville Dr	0.56mi	3/2.5	1,648 (+10%)	1mo	$214,991	$130	57
2353 Dovedale Dr Unit B	0.65mi	3/3.0	1,612 (+7%)	2mo	$254,500	$158	54
109 Lady O Dr Unit B	0.64mi	3/2.5	1,684 (+12%)	0mo	$283,200	$168	50

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 · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.46×
• Total profit: $-33,397
• Equity at exit: $32,803

10-year hold

• IRR: -2.3%
• Equity multiple: 0.83×
• Total profit: $-10,478
• Equity at exit: $19,022

Cash invested: $61,600 (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 27834

• Rents YoY: 5.4%
• Active inventory: 356
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,024 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$125
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-46

Break-even live

Break-even rent $2,083

Max offer price $213,308

Occupancy floor 97%

Sensitivity live

Price	-10% $106	-5% $30	+0% $-46	+5% $-122	+10% $-198
Rent	-10% $-206	-5% $-126	+0% $-46	+5% $34	+10% $114
Rate	-1.0pp $65	-0.5pp $10	base $-46	+0.5pp $-103	+1.0pp $-161

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4511 Laurel Ridge Dr Unit B Greenville, NC	3.0	2.5	1619	$1,950	$1.20	23d	1	0.05mi
4129 Laurel Ridge Dr Unit F Greenville, NC	2.0	3.5	1050	$2,500	$2.38	23d	1	0.06mi
4129 Laurel Ridge Dr Greenville, NC	2.0	4.0	1050	$2,500	$2.38	23d	1	0.06mi
2221 Brookville Dr Unit B Greenville, NC	3.0	2.0	1508	$1,700	$1.13	23d	1	0.37mi
1005 Allen Ridge Dr Greenville, NC	2.0–3.0	2.0	1134	$1,999	$1.76	15d	13	0.37mi
974 Ellery Dr Greenville, NC	3.0	2.0	1901	$1,995	$1.05	23d	1	0.39mi
2308 Sweet Bay Dr Unit B Greenville, NC	3.0	2.0	1446	$1,925	$1.33	23d	1	0.43mi
1632 Cambria Dr Unit B Greenville, NC	3.0	3.0	1919	$2,000	$1.04	23d	1	0.54mi
2500 Brookville Dr Greenville, NC	3.0	2.0	1423	$1,800	$1.26	15d	1	0.64mi
1951 Cambria Dr Unit B Greenville, NC	3.0	3.0	1552	$1,800	$1.16	23d	1	0.77mi
1548 Manning Forest Dr Unit M7 Greenville, NC	2.0	1.5	1094	$1,300	$1.19	15d	1	0.78mi
828 Sarah Rebecca Dr Greenville, NC	3.0	2.5	1636	$2,000	$1.22	23d	1	1.06mi

HOA detail

• Monthly dues: $125 · $1,500/yr

Listing history 9 events

1. 2026-05-04
   listed $220,000 Active
2. 2026-05-03
   historical $1,650
3. 2026-04-23
   listed $1,650
4. 2026-04-04
   historical $1,650
5. 2026-02-15
   listed $1,650
6. 2026-01-21
   historical $1,600
7. 2026-01-10
   listed $1,600
8. 2025-08-01
   historical $1,600
9. 2025-07-08
   listed $1,600

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,291
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,943
• − Management: −$1,943
• − HOA: −$1,500
• − Depreciation: −$6,400
• Taxable loss: −$4,219
• Est. tax savings @ 24.0%: +$1,013
• After-tax cash flow: $458/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This Laurel Ridge Townhome in Greenville, NC, is in excellent condition with a good condition score of 80. It offers a spacious open-concept floor plan, modern kitchen and bathrooms, and well-maintained exterior. The home is move-in ready and would benefit from minor updates to enhance its curb appeal and functionality.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Reorganizing kitchen cabinets for better functionality — Maximizes storage and improves usability.
• Both Upgrading light fixtures for energy efficiency — Saves on energy costs and enhances ambiance.
• Both Adding smart home technology — Improves convenience and adds value for potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Reorganizing kitchen cabinets for better functionality — Maximizes storage and improves usability. ↑
• Both Upgrading light fixtures for energy efficiency — Saves on energy costs and enhances ambiance. ↑
• Both Adding smart home technology — Improves convenience and adds value for potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Pitt County Schools
• NCES district ID: 3700012
• Math proficiency: 41% ▬ 0.00%
• Reading proficiency: 44% ▲ 2.00%
• Median HH income: $40,631
• Composite: 35.67/100
• National rank: #4877
• State rank: #100 of 178 in NC

Livability — Greenville

• Score: 77/100
• State rank: #30
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NC
• County: Pitt County · 142,592 people
• City population: 115,121
• Metro: Greenville, NC
• Population (ZIP): 56,347
• Household income: $48,935
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 3319.0

Population outlook (Pitt County) Hauer SSP2

• Today (2025): 194,585 people
• By 2030: 203,756 · +4.7%
• By 2040: 220,807 · +13.5%
• By 2050: 236,614 · +21.6%
• By 2075: 275,940 · +41.8%
• By 2100: 300,058 · +54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 54% White 33% Hispanic / Latino 8% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · Pitt

• 2024 margin: Lean D (+6.0) · D 52.5% · R 46.5% · Other 1.1%
• 2008→2024 swing: -2.8pp toward R · 2008: 8.8pp · 2024: 6.0pp
• All cycles: 2024: D+6.0 2020: D+9.4 2016: D+7.4 2012: D+6.7 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.99%
• Current HPI: 190.6869
• Rent YoY: ▲ 5.44%
• Metro: Greenville, 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

+13650.0% since first listed

9 events — show timeline

• 2026-05-04 Listed $220,000 Hive MLS
• 2026-05-03 Rental Removed $1,650 SHOWMOJO
• 2026-04-23 Listed for Rent $1,650 SHOWMOJO
• 2026-04-04 Rental Removed $1,650 RENTALBEAST
• 2026-02-15 Listed for Rent $1,650 RENTALBEAST
• 2026-01-21 Rental Removed $1,600 RENTALBEAST
• 2026-01-10 Listed for Rent $1,600 RENTALBEAST
• 2025-08-01 Rental Removed $1,600 RENTALBEAST
• 2025-07-08 Listed for Rent $1,600 RENTALBEAST