3002 Williams Rd · Greenville, NC 27834

$154,900

3 bd · 1.0 ba · 932 sqft · SingleFamily public records · 284 Days on market

Built 1961 0.26 ac lot

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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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.2/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This cozy 2 Bedroom 1 bath property is ideal for entertaining guests and has a homey and intimate feel. It's also the Perfect unit for investors who are looking to add another spectacular unit to their portfolio or a wonderful family home. Schedule your showing today! No HOA. New Dishwasher 2021 New Fridge 10/23 New Roof 2021 LVP flooring New paint interior and around portal 10/2023 10/2023 new bathroom vanity, mirror and lights Brushed nickel Bathroom accessories and doorknobs/handles Replaced motor in HVAC Nov 24

Key facts

• New paint interior
• New bathroom vanity
• New dishwasher

Tags

• NEW DISHWASHER
• NEW FRIDGE
• NEW ROOF
• LVP FLOORING
• NEW PAINT INTERIOR
• NEW BATHROOM VANITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (8.4% below list).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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); E B Aycock Middle (math 27% / reading 30%, grade F, #355 of 475 statewide, top 76%, 661 students, 99% FRL); South Central (math 42% / reading 51%, grade D-, #344 of 535 statewide, top 64%, 1,675 students, 55% FRL) — zoned schools average 84% FRL vs 56% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 350 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).
• This rent runs 35% of the median local income ($49k/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 $5k 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 284 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $155k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 284 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.76×
• Total profit: $-10,258
• Equity at exit: $23,096

10-year hold

• IRR: 5.9%
• Equity multiple: 1.48×
• Total profit: $20,816
• Equity at exit: $13,393

Cash invested: $43,372 (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: 350
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,419 high
• Mortgage (P&I): −$812
• Tax from tax record: −$66 /mo · $791/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $178

Break-even live

Break-even rent $1,193

Max offer price $154,900

Occupancy floor 82%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1548 Manning Forest Dr Unit M7 Greenville, NC	2.0	1.5	1094	$1,300	$1.19	13d	1	0.13mi
203 Shiloh Dr Unit E Greenville, NC	2.0	1.5	1000	$1,130	$1.13	20d	1	0.51mi
301 Shiloh Dr Unit A Greenville, NC	2.0	1.0	864	$950	$1.10	20d	1	0.52mi
3324 Frontgate Dr Greenville, NC	1.0–2.0	1.0	765	$999	$1.31	13d	9	0.73mi
3338 Frontgate Dr Unit 22 Greenville, NC	2.0	1.0	865	$1,049	$1.21	20d	1	0.75mi
2152 Flagstone Ct Greenville, NC	2.0	1.5	1044	$1,150	$1.10	20d	1	0.76mi
2140 Flagstone Ct Unit J6 Greenville, NC	2.0	1.5	1043	$1,200	$1.15	20d	1	0.81mi
4129 Laurel Ridge Dr Greenville, NC	2.0	4.0	1050	$2,500	$2.38	20d	1	0.93mi
4129 Laurel Ridge Dr Unit F Greenville, NC	2.0	3.5	1050	$2,500	$2.38	20d	1	0.93mi
1005 Allen Ridge Dr Greenville, NC	2.0–3.0	2.0	1134	$1,999	$1.76	13d	13	0.94mi
1150 Cross Creek Cir Greenville, NC	2.0	2.0	1100	$1,200	$1.09	20d	1	1.22mi
935 Spring Forest Rd Greenville, NC	2.0	2.0	1000	$1,299	$1.30	20d	4	1.25mi
2613 Whitaker Dr Greenville, NC	2.0	1.0	853	$1,004	$1.18	20d	1	1.40mi
904 Gabriel Dr Greenville, NC	1.0–2.0	1.0–2.0	966	$1,875	$1.94	20d	17	1.48mi

Listing history 22 events

1. 2026-06-19
   days on market $154,900 Active 284 DOM
2. 2026-06-18
   days on market $154,900 Active 283 DOM
3. 2026-06-17
   days on market $154,900 Active 282 DOM
4. 2026-06-16
   days on market $154,900 Active 281 DOM
5. 2026-06-15
   days on market $154,900 Active 280 DOM
6. 2026-06-13
   days on market $154,900 Active 277 DOM
7. 2026-06-10
   days on market $154,900 Active 275 DOM
8. 2026-06-09
   days on market $154,900 Active 274 DOM
9. 2026-06-08
   days on market $154,900 Active 273 DOM
10. 2026-06-07
    days on market $154,900 Active 272 DOM
11. 2026-06-05
    days on market $154,900 Active 269 DOM
12. 2026-06-03
    days on market $154,900 Active 268 DOM
13. 2026-06-02
    days on market $154,900 Active 267 DOM
14. 2026-06-01
    days on market $154,900 Active 266 DOM
15. 2026-05-31
    days on market $154,900 Active 265 DOM
16. 2026-05-30
    days on market $154,900 Active 264 DOM
17. 2026-03-16
    price $154,900
18. 2025-09-08
    listed $179,900 Active
19. 2022-07-11
    price $1,150
20. 2016-05-11
    historical
21. 2015-11-25
    listed $70,000
22. 2004-06-01
    soldstatus $66,500

ⓘ 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: $791 · $66/mo
• Projected year-2 tax: $1,270 · $106/mo
• Expected delta: +$480/yr (+$40/mo · 60.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,023
• − Mortgage interest: −$8,677
• − Property taxes: −$791
• − Insurance: −$774
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$4,506
• Taxable loss: −$449
• Est. tax savings @ 24.0%: +$108
• After-tax cash flow: $2,243/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: 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

• 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

+132.9% since first listed

6 events — show timeline

• 2026-03-16 Price Changed $154,900 Hive MLS
• 2025-09-08 Listed $179,900 Hive MLS
• 2022-07-11 Price Changed $1,150 RENT.
• 2016-05-11 Listing Removed — Hive MLS
• 2015-11-25 Listed $70,000 Hive MLS
• 2004-06-01 Sold (Public Records) $66,500 Public Records

Property tax history

+4.4%/yr

Latest (2025): $791 · +1.5% YoY. Source: county tax records.