413 Rice St · Hamlet, NC 28345

$65,000

3 bd · 1.5 ba · 1,625 sqft · SingleFamily public records · 21 Days on market

Built 1940 6,534 sqft lot ↓ 28% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful home close to town! Home is walking distance from the Hamlet train station, museum and library. Home has 3 large bedrooms with 1 and 1/2 bath. Kitchen has plenty of storage and cabinet space.

Key facts

• 6,534 sq ft lot
• Built 1940
• Listed 21 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residential property; Site-built construction; One and one-half story layout; Brick partial and vinyl exterior
• Construction: Site-built construction; Brick partial and vinyl siding; Basement and crawl space foundation
• Exterior features: Roads are a mix of dirt and paved; Publicly maintained road

Interior

• Kitchen: Dishwasher; Exhaust hood
• Bedrooms: Three bedrooms total: one on the main level and two on the upper level
• Bathrooms: One full bathroom; One half bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: 8 total rooms; Partial, unfinished basement; Basement and crawl space foundation; Fireplace in the living room
• Laundry & utility: Laundry closet on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 3.8% in Hamlet — 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 70/100 on livability (#124 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D, 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: Fairview Heights Elementary (math 43% / reading 42%, grade F, #625 of 1,410 statewide, top 45%, 504 students, 99% 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 (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 45% at this address vs 33% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Richmond County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 73 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 $449 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 $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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 D 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: 1.68% ✓
• Cap rate: 13.95%
• Cash-on-cash: 27.33%
• DSCR: 2.22
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $143,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
413 Rice St	0.00mi	3/1.5	1,654 (+2%)	0mo	$68,000	$41	97
304 Henderson St	0.08mi	3/1.0	1,756 (+8%)	8mo	$155,000	$88	74
401 Marlboro St	0.32mi	3/2.5	1,680 (+3%)	3mo	$190,000	$113	73
607 Henderson St	0.25mi	3/2.0	1,501 (-8%)	5mo	$125,000	$83	69
817 Austin St	0.53mi	3/2.0	1,596 (-2%)	5mo	$259,900	$163	66
300 Hylan Ave	0.44mi	2/2.0 (-1)	1,720 (+6%)	3mo	$215,000	$125	60
503 Spring St	0.56mi	4/1.0 (+1)	1,580 (-3%)	8mo	$80,000	$51	55
306 Locust St	0.61mi	3/2.0	1,683 (+4%)	15mo	$284,000	$169	51
318 Spring St	0.56mi	4/2.5 (+1)	1,754 (+8%)	4mo	$75,000	$43	48
304 Locust St	0.59mi	3/2.0	1,683 (+4%)	20mo	$287,000	$171	48
343 Raleigh St	0.69mi	4/1.0 (+1)	1,496 (-8%)	21mo	$35,000	$23	30
308 Terry St St	0.74mi	2/2.0 (-1)	1,843 (+13%)	9mo	$160,000	$87	28

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: 21.4%
• Equity multiple: 1.87×
• Total profit: $15,889
• Equity at exit: $9,692

10-year hold

• IRR: 29.5%
• Equity multiple: 3.63×
• Total profit: $47,906
• Equity at exit: $5,620

Cash invested: $18,200 (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 28345

• Home prices YoY: -22.3%
• Active inventory: 73
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,095 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$82 /mo · $988/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $415

Break-even live

Break-even rent $570

Max offer price $65,000

Occupancy floor 57%

Sensitivity live

Price	-10% $451	-5% $433	+0% $415	+5% $396	+10% $378
Rent	-10% $328	-5% $371	+0% $415	+5% $458	+10% $501
Rate	-1.0pp $447	-0.5pp $431	base $415	+0.5pp $398	+1.0pp $381

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-09
   status $65,000 Pending 21 DOM
2. 2026-06-08
   days on market $65,000 Active Under Contract 21 DOM
3. 2026-06-07
   days on market $65,000 Active Under Contract 20 DOM
4. 2026-06-05
   days on market $65,000 Active Under Contract 17 DOM
5. 2026-06-03
   days on market $65,000 Active Under Contract 16 DOM
6. 2026-06-02
   days on market $65,000 Active Under Contract 15 DOM
7. 2026-06-01
   days on market $65,000 Active Under Contract 14 DOM
8. 2026-05-31
   days on market $65,000 Active Under Contract 13 DOM
9. 2026-05-30
   days on market $65,000 Active Under Contract 12 DOM
10. 2026-05-21
    historical Active Under Contract
11. 2026-05-18
    listed $65,000 Active
12. 2020-03-16
    soldstatus $88,000 201-char remark

    Show marketing remark (201 chars)

    Beautiful home close to town! Home is walking distance from the Hamlet train station, museum and library. Home has 3 large bedrooms with 1 and 1/2 bath. Kitchen has plenty of storage and cabinet space.

13. 2020-03-16
    soldstatus $88,000

    Show marketing remark (201 chars)

    Beautiful home close to town! Home is walking distance from the Hamlet train station, museum and library. Home has 3 large bedrooms with 1 and 1/2 bath. Kitchen has plenty of storage and cabinet space.

14. 2020-01-30
    listed $89,900 201-char remark

    Show marketing remark (201 chars)

    Beautiful home close to town! Home is walking distance from the Hamlet train station, museum and library. Home has 3 large bedrooms with 1 and 1/2 bath. Kitchen has plenty of storage and cabinet space.

ⓘ 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: $988 · $82/mo
• Projected year-2 tax: $988 · $82/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $13,137
• − Mortgage interest: −$3,641
• − Property taxes: −$988
• − Insurance: −$325
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − Depreciation: −$1,891
• Taxable income: $4,190
• Est. tax owed @ 24.0%: −$1,006
• After-tax cash flow: $3,969/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 — Hamlet

• Score: 70/100
• State rank: #124
• US rank: #7413

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamlet, NC
• Population (ZIP): 12,224

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 0.55)
• Race & ethnicity: White 58% Black 34% Hispanic / Latino 4% Native American 4% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -56.70%
• Current HPI: 197.4677
• 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

-27.7% since first listed

5 events — show timeline

• 2026-05-21 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-05-18 Listed $65,000 CANOPYMLS as Distributed by MLS Grid
• 2020-03-16 Sold (Public Records) $88,000 Public Records
• 2020-03-16 Sold (MLS) $88,000 Hive MLS
• 2020-01-30 Listed $89,900 Hive MLS

Property tax history

+4.2%/yr

Latest (2025): $988 · -2.3% YoY. Source: county tax records.