117 Faulk St · Williamston, NC 27892

$85,000

3 bd · 1.0 ba · 896 sqft · SingleFamily public records · 15 Days on market

Built 1947 7,841 sqft lot Est $70k · 22% 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 +26.1/30.0
• DSCR +8.8/10.0
• Appreciation +7.6/10.0
• 1% rule +6.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0

Listing remarks

Welcome to 117 Faulk Street in Williamston -- a well-maintained 2-bedroom, 1-bath home offering a great opportunity for investors or savvy first-time homebuyers looking for affordability and potential. Tucked away on a quiet street with no through traffic, this property provides added privacy and a peaceful setting while still being conveniently located near downtown Williamston, local shopping, restaurants, schools, and everyday amenities. Inside, the home has been cared for over the years and offers a functional layout with comfortable living spaces and plenty of natural light. The seller is also offering a 1 YEAR HOME WARRANTY! Whether you're looking to expand your rental portfolio, purc

Key facts

• Added privacy
• Natural light
• Conveniently located

Tags

• ADDED PRIVACY
• NATURAL LIGHT
• CONVENIENTLY LOCATED

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Gravel parking
• Utilities: Connected to public water; Connected to sewer
• Home design: Single-family residential home; One story, entry level on first floor
• Construction: Frame construction; Shingle roof; Built with details listed in remarks
• Exterior features: Screened front porch; Paved road access; No fencing

Interior

• Bedrooms: 3 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central Air conditioning; Electric heating with heat pump
• Interior features: Crawl space basement; Has a view

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($964 rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.6% in Williamston — 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 58/100 on livability (#584 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Martin County Schools (rural): math 24% / reading 34% proficiency, ranked #150 of 178 in NC (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: E J Hayes Elementary (math 28% / reading 35%, grade F, #945 of 1,410 statewide, top 68%, 273 students, 99% FRL); Riverside High (math 22% / reading 37%, grade F, #459 of 535 statewide, top 87%, 447 students, 99% FRL) — zoned schools average 99% FRL vs 62% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 72 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($588 loan paydown + $4k appreciation (5.1% local appreciation)).
• Martin County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1947 — 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: 1.13% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.74%
• DSCR: 1.48
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $69,888
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 N Martin Luther King Jr Dr	0.46mi	2/1.0 (-1)	900 (+0%)	3mo	$55,000	$61	70
403 Jamesville Rd	0.35mi	3/1.0	925 (+3%)	10mo	$59,000	$64	70
109 Wilson St	0.44mi	3/1.0	936 (+4%)	4mo	$42,000	$45	69
116 Perry St	0.16mi	3/1.0	958 (+7%)	19mo	$75,000	$78	65
710 W Church St	0.43mi	3/1.0	920 (+3%)	22mo	$50,000	$54	57
408 Roberson St	0.53mi	2/1.0 (-1)	942 (+5%)	20mo	$102,850	$109	44
1208 W Main St	0.63mi	2/1.0 (-1)	985 (+10%)	6mo	$126,000	$128	44
202 Victoria Ave	0.64mi	2/1.0 (-1)	818 (-9%)	9mo	$108,500	$133	43
313 N Haines St	0.62mi	3/1.0	1,002 (+12%)	18mo	$125,000	$125	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 2.42×
• Total profit: $33,762
• Equity at exit: $48,815

10-year hold

• IRR: 21.8%
• Equity multiple: 4.78×
• Total profit: $90,048
• Equity at exit: $84,788

Cash invested: $23,800 (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 27892

• Home prices YoY: 3.0%
• Active inventory: 72
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $964 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$67 /mo · $809/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $213

Break-even live

Break-even rent $694

Max offer price $85,000

Occupancy floor 73%

Sensitivity live

Price	-10% $261	-5% $237	+0% $213	+5% $189	+10% $165
Rent	-10% $137	-5% $175	+0% $213	+5% $251	+10% $289
Rate	-1.0pp $256	-0.5pp $235	base $213	+0.5pp $191	+1.0pp $169

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-30
   statusdays on market $85,000 Pending 15 DOM
2. 2026-05-15
   listed $85,000 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: $809 · $67/mo
• Projected year-2 tax: $809 · $67/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 9/10 Extreme 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $11,569
• − Mortgage interest: −$4,761
• − Property taxes: −$809
• − Insurance: −$425
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$2,473
• Taxable income: $1,251
• Est. tax owed @ 24.0%: −$300
• After-tax cash flow: $2,257/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: Martin County Schools
• NCES district ID: 3702880
• Math proficiency: 24% ▼ -2.00%
• Reading proficiency: 34% ▲ 1.00%
• Median HH income: $35,403
• Composite: 23.94/100
• National rank: #7781
• State rank: #150 of 178 in NC

Livability — Williamston

• Score: 58/100
• State rank: #584
• US rank: #21504

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Williamston, NC
• Population (ZIP): 13,387

Population outlook (Martin County) Hauer SSP2

• Today (2025): 21,018 people
• By 2030: 19,693 · -6.3%
• By 2040: 16,793 · -20.1%
• By 2050: 14,171 · -32.6%
• By 2075: 9,804 · -53.4%
• By 2100: 6,894 · -67.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 53% Black 38% Two or more races 5% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 94% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Martin

• 2024 margin: R (+10.3) · D 44.6% · R 54.9%
• 2008→2024 swing: -15.0pp toward R · 2008: 4.6pp · 2024: -10.3pp
• All cycles: 2024: R+10.3 2020: R+5.0 2016: R+0.5 2012: D+4.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.13%
• Current HPI: 178.4817
• 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

1 event — show timeline

• 2026-05-15 Listed $85,000 Hive MLS

Property tax history

+3.8%/yr

Latest (2025): $809 · +38.9% YoY. Source: county tax records.