216 Katie Dr · Sharpsburg, NC 27803

$159,900

3 bd · 2.0 ba · 1,060 sqft · SingleFamily public records · 53 Days on market

Built 2003 9,583 sqft lot Est $176k · 9% under

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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).

• Cash flow +13.4/30.0
• ARV discount +11.6/15.0
• DSCR +4.0/10.0
• Rent growth +3.9/5.0
• 1% rule +3.5/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

USDA Eligible! This charming 3 bedroom, 2 full bath ranch style home in Sharpsburg is ready for you! Upgrades include paint throughout, new shingles, luxury vinyl plank flooring, and HVAC. Tucked away in a low traffic neighborhood, this home is still an easy drive to amenities in either Rocky Mount or Wilson. Make this one yours today!

Key facts

• Hvac
• New shingles
• 9,583 sq ft lot

Tags

• NEW SHINGLES
• LUXURY VINYL PLANK FLOORING
• HVAC
• LOW TRAFFIC NEIGHBORHOOD

Property features AI

Finance

• Other: Lot approximately 0.22 acres
• Financial info: Annual tax amount listed
• HOA & community: No homeowners association

Exterior

• Utilities: Public water; Public sewer
• Home design: One-story house
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built as a house
• Exterior features: Public maintained road access

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Vinyl flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $3 ($41/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 $137k (14.6% below list).
• Recommended offer: $137k (14.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#595 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime D, schools F, amenities F.
• Edgecombe County Public Schools (rural): math 21% / reading 27% proficiency, ranked #163 of 178 in NC (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 171 active listings in the ZIP; 50 units permitted in Edgecombe County in 2024 (5 in 5+ unit buildings).

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.
• Edgecombe County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $127k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $136,546 (14.6% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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. 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?
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: 0.85% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $175,960
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 Katie Dr	0.07mi	3/2.0	1,110 (+5%)	9mo	$184,900	$167	82
408 Katie Dr	0.07mi	3/2.0	1,042 (-2%)	19mo	$181,900	$175	78
109 Mary Ln	0.11mi	3/2.0	1,178 (+11%)	13mo	$195,000	$166	65
521 S Railroad St	0.74mi	2/1.0 (-1)	998 (-6%)	0mo	$92,500	$93	47
4045 S Hathaway Blvd	0.61mi	2/2.0 (-1)	1,108 (+4%)	15mo	$154,900	$140	47
309 John J Sharpe St	0.70mi	3/1.0	979 (-8%)	18mo	$130,000	$133	35

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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.51×
• Total profit: $-22,155
• Equity at exit: $23,842

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-3,729
• Equity at exit: $13,825

Cash invested: $44,772 (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 27803

• Rents YoY: 5.5%
• Active inventory: 171
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,365 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$170 /mo · $2,041/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $3

Break-even live

Break-even rent $1,361

Max offer price $159,900

Occupancy floor 95%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-19
   days on market $159,900 Active 53 DOM
2. 2026-06-18
   days on market $159,900 Active 52 DOM
3. 2026-06-17
   days on market $159,900 Active 51 DOM
4. 2026-06-16
   days on market $159,900 Active 50 DOM
5. 2026-06-15
   days on market $159,900 Active 49 DOM
6. 2026-06-14
   days on market $159,900 Active 47 DOM
7. 2026-06-13
   days on market $159,900 Active 46 DOM
8. 2026-06-10
   days on market $159,900 Active 44 DOM
9. 2026-06-09
   days on market $159,900 Active 43 DOM
10. 2026-06-08
    days on market $159,900 Active 42 DOM
11. 2026-06-07
    days on market $159,900 Active 41 DOM
12. 2026-06-05
    days on market $159,900 Active 38 DOM
13. 2026-06-02
    days on market $159,900 Active 36 DOM
14. 2026-06-01
    days on market $159,900 Active 35 DOM
15. 2026-05-31
    days on market $159,900 Active 34 DOM
16. 2026-05-30
    days on market $159,900 Active 33 DOM
17. 2026-05-11
    price $164,900 337-char remark

    Show marketing remark (337 chars)

    USDA Eligible! This charming 3 bedroom, 2 full bath ranch style home in Sharpsburg is ready for you! Upgrades include paint throughout, new shingles, luxury vinyl plank flooring, and HVAC. Tucked away in a low traffic neighborhood, this home is still an easy drive to amenities in either Rocky Mount or Wilson. Make this one yours today!

18. 2026-05-11
    price $164,900

    Show marketing remark (337 chars)

    USDA Eligible! This charming 3 bedroom, 2 full bath ranch style home in Sharpsburg is ready for you! Upgrades include paint throughout, new shingles, luxury vinyl plank flooring, and HVAC. Tucked away in a low traffic neighborhood, this home is still an easy drive to amenities in either Rocky Mount or Wilson. Make this one yours today!

19. 2026-04-27
    listed $174,900 Active 337-char remark

    Show marketing remark (337 chars)

    USDA Eligible! This charming 3 bedroom, 2 full bath ranch style home in Sharpsburg is ready for you! Upgrades include paint throughout, new shingles, luxury vinyl plank flooring, and HVAC. Tucked away in a low traffic neighborhood, this home is still an easy drive to amenities in either Rocky Mount or Wilson. Make this one yours today!

20. 2026-04-27
    listed $174,900 Active

    Show marketing remark (337 chars)

    USDA Eligible! This charming 3 bedroom, 2 full bath ranch style home in Sharpsburg is ready for you! Upgrades include paint throughout, new shingles, luxury vinyl plank flooring, and HVAC. Tucked away in a low traffic neighborhood, this home is still an easy drive to amenities in either Rocky Mount or Wilson. Make this one yours today!

21. 2026-02-26
    price $172,500
22. 2026-02-03
    status Active
23. 2026-02-03
    price $175,000
24. 2026-01-19
    status Pending
25. 2026-01-19
    historical
26. 2025-12-10
    price $180,000
27. 2025-12-01
    price $182,500
28. 2025-11-07
    price $184,500
29. 2025-10-10
    price $186,000
30. 2025-09-21
    price $187,500
31. 2025-09-03
    price $189,999
32. 2025-08-15
    listed $192,000 Active
33. 2025-07-18
    soldstatus $127,000
34. 2016-08-01
    soldstatus $55,000
35. 2007-10-12
    soldstatus $55,000

ⓘ 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: $2,041 · $170/mo
• Projected year-2 tax: $2,041 · $170/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 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,386
• − Mortgage interest: −$8,957
• − Property taxes: −$2,041
• − Insurance: −$800
• − Repairs & maintenance: −$1,311
• − Management: −$1,311
• − Depreciation: −$4,652
• Taxable loss: −$2,686
• Est. tax savings @ 24.0%: +$645
• After-tax cash flow: $686/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: Edgecombe County Public Schools
• NCES district ID: 3701320
• Math proficiency: 21% ▼ -2.00%
• Reading proficiency: 27% ▲ 2.00%
• Median HH income: $35,711
• Composite: 19.85/100
• National rank: #8696
• State rank: #163 of 178 in NC

Livability — Sharpsburg

• Score: 57/100
• State rank: #595
• US rank: #21689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sharpsburg, NC
• County: Nash County · 50,768 people
• City population: 1,099
• Metro: Rocky Mount, NC
• Population (ZIP): 20,055
• Household income: $60,124
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 641.0

Population outlook (Edgecombe County) Hauer SSP2

• Today (2025): 47,800 people
• By 2030: 44,396 · -7.1%
• By 2040: 37,562 · -21.4%
• By 2050: 31,495 · -34.1%
• By 2075: 20,943 · -56.2%
• By 2100: 13,674 · -71.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 46% Black 44% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 1% Other Indo-European 1%

Political lean MEDSL · Edgecombe

• 2024 margin: Strong D (+22.7) · D 61.0% · R 38.3%
• 2008→2024 swing: -11.8pp toward R · 2008: 34.5pp · 2024: 22.7pp
• All cycles: 2024: D+22.7 2020: D+27.0 2016: D+32.2 2012: D+36.4 2008: D+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.95%
• Current HPI: 190.0204
• Rent YoY: ▲ 5.51%
• Metro: Rocky Mount, 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

+199.8% since first listed

19 events — show timeline

• 2026-05-11 Price Changed $164,900 Hive MLS
• 2026-05-11 Price Changed $164,900 TMLS
• 2026-04-27 Listed $174,900 TMLS
• 2026-04-27 Listed $174,900 Hive MLS
• 2026-02-26 Price Changed $172,500 TMLS
• 2026-02-03 Relisted — TMLS
• 2026-02-03 Price Changed $175,000 TMLS
• 2026-01-19 Pending — TMLS
• 2026-01-19 Listing Removed — TMLS
• 2025-12-10 Price Changed $180,000 TMLS
• 2025-12-01 Price Changed $182,500 TMLS
• 2025-11-07 Price Changed $184,500 TMLS
• 2025-10-10 Price Changed $186,000 TMLS
• 2025-09-21 Price Changed $187,500 TMLS
• 2025-09-03 Price Changed $189,999 TMLS
• 2025-08-15 Listed $192,000 TMLS
• 2025-07-18 Sold (Public Records) $127,000 Public Records
• 2016-08-01 Sold (Public Records) $55,000 Public Records
• 2007-10-12 Sold (Public Records) $55,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,041 · +0.0% YoY. Source: county tax records.