202 Lee St NE · Wilson, NC 27893

$144,900

4 bd · 2.0 ba · 1,456 sqft · Other public records · 83 Days on market

Built 1930 6,534 sqft lot ↓ 3% since listing

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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 +23.7/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Rent growth +4.3/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Duplex. Unit A has recently been renovated(vacant), Unit B has long term tenant.

Key facts

• 6,534 sq ft lot
• Built 1930
• Listed 83 days

Tags

• RECENTLY BEEN RENOVATED

Property features AI

Finance

• Financial info: Income-producing duplex with multiple 2-bedroom units reporting actual rents of $325 for listed units

Exterior

• Parking: Off-street parking
• Utilities: Public water; Natural gas available; Electricity connected; Sewer connected; Water connected
• Home design: Residential income property (duplex); Single-story
• Construction: Concrete and block construction; Composition roof
• Exterior features: Front porch; Property has a view; City street and state road frontage

Interior

• Bedrooms: Multiple 2-bedroom units (each unit listed as 2 bedrooms)
• Flooring: Vinyl; Wood
• Heating & cooling: Baseboard heating; Electric heating; Forced air heating; No central cooling
• Interior features: Electric and gas water heaters available; Crawl space basement; Vinyl and wood flooring
• Laundry & utility: No dedicated laundry features listed

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.4% in Wilson — 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 64/100 on livability (#374 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime F, amenities F, commute F.
• Wilson County Schools (rural): math 38% / reading 40% proficiency, ranked #119 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Margaret Hearne Elementary (math 12% / reading 17%, grade F, #1,331 of 1,410 statewide, top 96%, 432 students, 99% FRL); Forest Hills Middle (math 32% / reading 38%, grade F, #286 of 475 statewide, top 61%, 670 students, 99% FRL); Fike High (math 37% / reading 51%, grade F, #367 of 535 statewide, top 69%, 1,046 students, 100% FRL) — zoned schools average 99% FRL vs 58% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.0%/yr); 260 active listings in the ZIP; lower-income renter base — watch delinquency; 580 units permitted in Wilson County in 2024 (168 in 5+ unit buildings).
• This rent runs 41% of the median local income ($43k/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.
• Wilson County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 72% 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 $136,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
9. 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.
10. 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: 1.01% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.17%
• DSCR: 1.36
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.01% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-3,964
• Equity at exit: $21,605

10-year hold

• IRR: 11.0%
• Equity multiple: 2.02×
• Total profit: $41,222
• Equity at exit: $12,528

Cash invested: $40,572 (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 27893

• Rents YoY: 7.0%
• Active inventory: 260
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,471 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$65 /mo · $785/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $210

Break-even live

Break-even rent $1,205

Max offer price $144,900

Occupancy floor 81%

Sensitivity live

Price	-10% $292	-5% $251	+0% $210	+5% $169	+10% $128
Rent	-10% $93	-5% $152	+0% $210	+5% $268	+10% $326
Rate	-1.0pp $283	-0.5pp $246	base $210	+0.5pp $172	+1.0pp $134

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-22
   days on market $144,900 Active 83 DOM
2. 2026-06-19
   days on market $144,900 Active 80 DOM
3. 2026-06-18
   days on market $144,900 Active 79 DOM
4. 2026-06-17
   days on market $144,900 Active 78 DOM
5. 2026-06-16
   days on market $144,900 Active 77 DOM
6. 2026-06-15
   days on market $144,900 Active 76 DOM
7. 2026-06-14
   days on market $144,900 Active 74 DOM
8. 2026-06-13
   days on market $144,900 Active 73 DOM
9. 2026-06-10
   days on market $144,900 Active 71 DOM
10. 2026-06-09
    days on market $144,900 Active 70 DOM
11. 2026-06-08
    days on market $144,900 Active 69 DOM
12. 2026-06-07
    days on market $144,900 Active 68 DOM
13. 2026-06-05
    days on market $144,900 Active 65 DOM
14. 2026-06-03
    days on market $144,900 Active 64 DOM
15. 2026-06-02
    days on market $144,900 Active 63 DOM
16. 2026-06-01
    days on market $144,900 Active 62 DOM
17. 2026-05-31
    days on market $144,900 Active 61 DOM
18. 2026-05-30
    days on market $144,900 Active 60 DOM
19. 2026-04-28
    price $144,900
20. 2026-03-31
    listed $149,900 Active

ⓘ 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: $785 · $65/mo
• Projected year-2 tax: $1,188 · $99/mo
• Expected delta: +$403/yr (+$34/mo · 51.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,647
• − Mortgage interest: −$8,117
• − Property taxes: −$785
• − Insurance: −$1,522
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$4,215
• Taxable income: $184
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $2,471/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: Wilson County Schools
• NCES district ID: 3705020
• Math proficiency: 38% ▲ 2.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $39,342
• Composite: 32.64/100
• National rank: #5665
• State rank: #119 of 178 in NC

Livability — Wilson

• Score: 64/100
• State rank: #374
• US rank: #14674

Category grades

Amenities F Commute F 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: Wilson, NC
• County: Wilson County · 57,967 people
• City population: 57,967
• Metro: Wilson, NC
• Population (ZIP): 38,512
• Household income: $42,810
• Rent vs Own: 55.8% rent · 44.2% own
• Severe rent burden: 2175.0

Population outlook (Wilson County) Hauer SSP2

• Today (2025): 82,765 people
• By 2030: 82,492 · -0.3%
• By 2040: 81,054 · -2.1%
• By 2050: 78,610 · -5.0%
• By 2075: 71,865 · -13.2%
• By 2100: 62,792 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 55% White 27% Hispanic / Latino 16% Two or more races 5%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Serbian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Wilson

• 2024 margin: Toss-up / Even · D 49.8% · R 49.4%
• 2008→2024 swing: -5.7pp toward R · 2008: 6.1pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+2.9 2016: D+5.6 2012: D+7.3 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -149.54%
• Current HPI: 211.4136
• Rent YoY: ▲ 7.01%
• Metro: Wilson, 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

-3.3% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $144,900 Hive MLS
• 2026-03-31 Listed $149,900 Hive MLS

Property tax history

+4.2%/yr

Latest (2025): $785 · +0.0% YoY. Source: county tax records.