10910 Nc 222 Hwy W · Middlesex, NC 27557

$350,000

4 bd · 2.0 ba · 2,464 sqft · SingleFamily public records · 219 Days on market

Built 2003 1.43 ac lot Est $382k · 8% under

---

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).

• ARV discount +11.3/15.0
• Cash flow +9.2/30.0
• Appreciation +8.9/10.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0

Listing remarks MLS

Beautiful Johnston County home on spacious lot! Driveway lined with mature trees is stunning in the spring, with a row of cyprus giving privacy from the road. Large back deck and wired storage shed. Master suite with huge master bath and its own private living room with fireplace. Two additional bedrooms share a Jack-and-Jill full bath, and a 4th bonus room features a walk-in closet and full bath. Both fireplaces are ventless style with leased propane tank on site. STICK BUILT HOME, NOT MODULAR!

Key facts

• Large deck
• Huge bonus room
• Large eat-in kitchen

Tags

• FENCED BACKYARD
• HUGE BONUS ROOM
• LARGE EAT-IN KITCHEN
• LARGE DECK
• LARGE WORKSHOP
• ADDITIONAL STORAGE SHED

Property features AI

Finance

• HOA & community: No association

Exterior

• Utilities: Well water; Septic tank
• Home design: Site-built single-story home; One level
• Construction: Vinyl siding; Shingle roof
• Exterior features: Deck; Patio; Porch; Fenced yard with wood privacy fencing; Shed(s) and workshop on the property

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 4 bedrooms (all on the main level)
• Flooring: Carpet; Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (propane); Central air; Ceiling fans
• Interior features: Eat-in kitchen; Walk-in closets; Two fireplaces (one in the family room)
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-264 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (31.6% below list).
• Recommended offer: $240k (31.6% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.2% in Middlesex — 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 59/100 on livability (#551 in NC) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Johnston County Public Schools (rural): math 39% / reading 42% proficiency, ranked #105 of 178 in NC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Corinth-Holders Elementary (math 31% / reading 33%, grade F, #908 of 1,410 statewide, top 67%, 550 students, 60% FRL); Archer Lodge Middle (math 43% / reading 47%, grade D, #160 of 475 statewide, top 35%, 1,219 students, 40% FRL); Corinth Holders High (math 50% / reading 61%, grade C, #265 of 535 statewide, top 50%, 2,219 students, 32% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: 178 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,783 units permitted in Johnston County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (7.7% local appreciation)).
• Johnston County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y 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

• Climate carrying-cost: major wind risk, 69% 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 $239,500 (31.6% 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. It's been on market 219 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.68% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.24%
• DSCR: 0.86
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $381,920
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
88 Barnes Rd	0.65mi	4/2.0	2,124 (-14%)	14mo	$329,900	$155	35

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

Projected returns pro-forma

7.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 2.24×
• Total profit: $121,238
• Equity at exit: $259,550

10-year hold

• IRR: 16.2%
• Equity multiple: 4.71×
• Total profit: $363,898
• Equity at exit: $509,258

Cash invested: $98,000 (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 27557

• Home prices YoY: 2.5%
• Active inventory: 178
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,395 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$175 /mo · $2,103/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-264

Break-even live

Break-even rent $2,730

Max offer price $303,283

Occupancy floor —

Sensitivity live

Price	-10% $-66	-5% $-165	+0% $-264	+5% $-364	+10% $-463
Rent	-10% $-454	-5% $-359	+0% $-264	+5% $-170	+10% $-75
Rate	-1.0pp $-88	-0.5pp $-175	base $-264	+0.5pp $-355	+1.0pp $-447

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10910 N Carolina 222 Unit 222 Middlesex, NC	4.0	3.0	2433	$2,395	$0.98	14d	1	0.02mi

Listing history 33 events

1. 2026-06-21
   days on market $350,000 Active 219 DOM
2. 2026-06-18
   days on market $350,000 Active 216 DOM
3. 2026-06-17
   days on market $350,000 Active 215 DOM
4. 2026-06-16
   days on market $350,000 Active 214 DOM
5. 2026-06-15
   days on market $350,000 Active 213 DOM
6. 2026-06-13
   days on market $350,000 Active 211 DOM
7. 2026-06-13
   days on market $350,000 Active 210 DOM
8. 2026-06-09
   days on market $350,000 Active 207 DOM
9. 2026-06-08
   days on market $350,000 Active 206 DOM
10. 2026-06-07
    days on market $350,000 Active 205 DOM
11. 2026-06-05
    days on market $350,000 Active 202 DOM
12. 2026-06-03
    days on market $350,000 Active 201 DOM
13. 2026-06-02
    days on market $350,000 Active 200 DOM
14. 2026-06-01
    days on market $350,000 Active 199 DOM
15. 2026-05-31
    days on market $350,000 Active 198 DOM
16. 2025-11-14
    listed $350,000 Active
17. 2023-12-12
    price $149,900
18. 2022-04-27
    soldstatus $313,000 Closed 501-char remark

    Show marketing remark (501 chars)

    Beautiful Johnston County home on spacious lot! Driveway lined with mature trees is stunning in the spring, with a row of cyprus giving privacy from the road. Large back deck and wired storage shed. Master suite with huge master bath and its own private living room with fireplace. Two additional bedrooms share a Jack-and-Jill full bath, and a 4th bonus room features a walk-in closet and full bath. Both fireplaces are ventless style with leased propane tank on site. STICK BUILT HOME, NOT MODULAR!

19. 2022-04-27
    soldstatus $313,000

    Show marketing remark (501 chars)

    Beautiful Johnston County home on spacious lot! Driveway lined with mature trees is stunning in the spring, with a row of cyprus giving privacy from the road. Large back deck and wired storage shed. Master suite with huge master bath and its own private living room with fireplace. Two additional bedrooms share a Jack-and-Jill full bath, and a 4th bonus room features a walk-in closet and full bath. Both fireplaces are ventless style with leased propane tank on site. STICK BUILT HOME, NOT MODULAR!

20. 2022-03-18
    status Pending 501-char remark

    Show marketing remark (501 chars)

    Beautiful Johnston County home on spacious lot! Driveway lined with mature trees is stunning in the spring, with a row of cyprus giving privacy from the road. Large back deck and wired storage shed. Master suite with huge master bath and its own private living room with fireplace. Two additional bedrooms share a Jack-and-Jill full bath, and a 4th bonus room features a walk-in closet and full bath. Both fireplaces are ventless style with leased propane tank on site. STICK BUILT HOME, NOT MODULAR!

21. 2022-03-14
    status Active 501-char remark

    Show marketing remark (501 chars)

    Beautiful Johnston County home on spacious lot! Driveway lined with mature trees is stunning in the spring, with a row of cyprus giving privacy from the road. Large back deck and wired storage shed. Master suite with huge master bath and its own private living room with fireplace. Two additional bedrooms share a Jack-and-Jill full bath, and a 4th bonus room features a walk-in closet and full bath. Both fireplaces are ventless style with leased propane tank on site. STICK BUILT HOME, NOT MODULAR!

22. 2022-01-28
    status Pending 501-char remark

    Show marketing remark (501 chars)

    Beautiful Johnston County home on spacious lot! Driveway lined with mature trees is stunning in the spring, with a row of cyprus giving privacy from the road. Large back deck and wired storage shed. Master suite with huge master bath and its own private living room with fireplace. Two additional bedrooms share a Jack-and-Jill full bath, and a 4th bonus room features a walk-in closet and full bath. Both fireplaces are ventless style with leased propane tank on site. STICK BUILT HOME, NOT MODULAR!

23. 2022-01-05
    listed $313,000 Active 501-char remark

    Show marketing remark (501 chars)

    Beautiful Johnston County home on spacious lot! Driveway lined with mature trees is stunning in the spring, with a row of cyprus giving privacy from the road. Large back deck and wired storage shed. Master suite with huge master bath and its own private living room with fireplace. Two additional bedrooms share a Jack-and-Jill full bath, and a 4th bonus room features a walk-in closet and full bath. Both fireplaces are ventless style with leased propane tank on site. STICK BUILT HOME, NOT MODULAR!

24. 2015-04-02
    status Pending
25. 2015-04-01
    historical
26. 2015-02-18
    price $130,000
27. 2014-09-04
    listed $135,500 Active
28. 2009-07-10
    historical
29. 2009-07-10
    historical
30. 2008-04-13
    listed $159,900
31. 2003-10-01
    soldstatus $140,000
32. 2003-09-07
    price $170,000
33. 2003-07-11
    listed $149,900

ⓘ 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: $2,103 · $175/mo
• Projected year-2 tax: $2,870 · $239/mo
• Expected delta: +$767/yr (+$64/mo · 36.5%)

ⓘ 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 ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $28,740
• − Mortgage interest: −$19,605
• − Property taxes: −$2,103
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,299
• − Management: −$2,299
• − Depreciation: −$10,182
• Taxable loss: −$9,498
• Est. tax savings @ 24.0%: +$2,280
• After-tax cash flow: $-894/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: Johnston County Public Schools
• NCES district ID: 3702370
• Math proficiency: 39% ▲ 4.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $50,912
• Composite: 34.99/100
• National rank: #5052
• State rank: #105 of 178 in NC

Livability — Middlesex

• Score: 59/100
• State rank: #551
• US rank: #20308

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,407

Population outlook (Johnston County) Hauer SSP2

• Today (2025): 222,440 people
• By 2030: 240,227 · +8.0%
• By 2040: 274,616 · +23.5%
• By 2050: 304,915 · +37.1%
• By 2075: 369,507 · +66.1%
• By 2100: 406,280 · +82.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 23% Black 13% Two or more races 13% Native American 3%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 77% English-only · Spanish 23%

Political lean MEDSL · Johnston

• 2024 margin: Strong R (+21.5) · D 38.7% · R 60.2% · Other 1.1%
• 2008→2024 swing: +2.2pp toward D · 2008: -23.7pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+24.3 2016: R+30.7 2012: R+27.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.73%
• Current HPI: 311.489
• 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

+133.5% since first listed

18 events — show timeline

• 2025-11-14 Listed $350,000 TMLS
• 2023-12-12 Price Changed $149,900 TMLS
• 2022-04-27 Sold (Public Records) $313,000 Public Records
• 2022-04-27 Sold (MLS) $313,000 TMLS
• 2022-03-18 Pending — TMLS
• 2022-03-14 Relisted — TMLS
• 2022-01-28 Pending — TMLS
• 2022-01-05 Listed $313,000 TMLS
• 2015-04-02 Pending — TMLS
• 2015-04-01 Listing Removed — TMLS
• 2015-02-18 Price Changed $130,000 TMLS
• 2014-09-04 Listed $135,500 TMLS
• 2009-07-10 Listing Removed — TMLS
• 2009-07-10 Listing Removed — TMLS
• 2008-04-13 Listed $159,900 TMLS
• 2003-10-01 Sold (Public Records) $140,000 Public Records
• 2003-09-07 Price Changed $170,000 TMLS
• 2003-07-11 Listed $149,900 TMLS

Property tax history

+2.6%/yr

Latest (2025): $2,103 · +38.7% YoY. Source: county tax records.