890 Snohan Rd #19 · Ayden, NC 28513

$118,900

3 bd · 2.0 ba · 2,460 sqft · SingleFamily · 19 Days on market

Built 1995 Poor condition 3.34 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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your tools and your vision to this spacious fixer-upper, which sits on 3.34 acres and offers a great chance to build real value. Deeded as a 1994 Horton Homes 40x61, the home gives you plenty of room to create a custom living space, fix up a home for yourself, or set up your next rental property. The property is sold AS-IS, strictly, meaning it needs some hard work and repairs. However, with a large layout ready for a full update, the possibilities are wide open. Per Pitt County, the property has Bell Arthur Water, which gives you a helpful head start as you plan your remodel. Property is in the Ayden Elementary School, Ayden Middle School, Ayden-Grifton High School school districts,

Key facts

• 3.34 acre lot
• Built 1995
• Listed 18 days

Property features AI

Finance

• Other: Lot size approximately 3.34 acres
• HOA & community: No HOA

Exterior

• Parking: Driveway parking; 2 open parking spaces
• Utilities: City water; Septic system installed
• Home design: Manufactured doublewide single-family residence; One level; Completed development
• Construction: Manufactured construction; Aluminum exterior; Pillar/post/pier foundation; Built as a manufactured home (doublewide)
• Exterior features: Dirt road access; Publicly maintained road

Interior

• Kitchen: Appliances listed as Other (see remarks)
• Bedrooms: 3 bedrooms, all on the main level
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: No heating system specified; Cooling: Other (see remarks)
• Interior features: 8 total rooms; Fireplace; Appliances: Other (see remarks)
• Laundry & utility: Laundry: Other (see remarks)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $119k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 2.8% in Ayden — 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 76/100 on livability (#41 in NC, #3,656 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, employment D, schools 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.
• Market conditions: 156 active listings in the ZIP; 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $822 of loan paydown is wiped out by about $4k 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 19 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $117,116 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.60%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $260,760
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1540 W Hanrahan Rd	0.41mi	3/3.0	2,618 (+6%)	22mo	$276,277	$106	48

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: -0.4%
• Equity multiple: 0.98×
• Total profit: $-510
• Equity at exit: $17,728

10-year hold

• IRR: 9.3%
• Equity multiple: 1.71×
• Total profit: $23,768
• Equity at exit: $10,280

Cash invested: $33,292 (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 28513

• Home prices YoY: -8.8%
• Active inventory: 156
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,412 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,784/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $294

Break-even live

Break-even rent $1,040

Max offer price $118,900

Occupancy floor 74%

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: $29,725
• Closing costs: $3,567
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-09
   days on market $118,900 Active 19 DOM
2. 2026-06-08
   days on market $118,900 Active 18 DOM
3. 2026-06-07
   days on market $118,900 Active 17 DOM
4. 2026-06-05
   pricedays on market $118,900 Active 14 DOM
5. 2026-06-03
   days on market $119,900 Active 13 DOM
6. 2026-06-02
   days on market $119,900 Active 12 DOM
7. 2026-06-01
   days on market $119,900 Active 11 DOM
8. 2026-05-31
   days on market $119,900 Active 10 DOM
9. 2026-05-30
   days on market $119,900 Active 9 DOM
10. 2026-05-22
    listed $119,900 Active
11. 2026-05-21
    historical $119,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 17 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: $16,950
• − Mortgage interest: −$6,660
• − Property taxes: −$1,784
• − Insurance: −$594
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$3,459
• Taxable income: $1,741
• Est. tax owed @ 24.0%: −$418
• After-tax cash flow: $3,112/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This fixer-upper requires extensive renovations, including major repairs to the kitchen, bathrooms, exterior, and HVAC system. Improvements to the landscaping and curb appeal can significantly increase its value.

Repairs flagged

• Major kitchen cabinets — old and in poor condition
• Major bathroom fixtures — old and in poor condition
• Major exterior siding — weathered and in poor condition
• Major kitchen flooring — worn and in poor condition
• Major interior walls — wallpaper peeling and in poor condition
• Major windows — old and may need replacement
• Major HVAC system — no visible issues, but may need replacement

Value-add opportunities

• Both landscaping and curb appeal — improving curb appeal can increase both resale and rental value
• Both HVAC system — replacing the HVAC system can improve comfort and energy efficiency, increasing both resale and rental value
• Both kitchen cabinets and flooring — updating the kitchen can increase both resale and rental value
• Both bathroom fixtures — updating the bathroom can increase both resale and rental value
• Both interior walls — replacing wallpaper can improve the interior appearance and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · old and in poor condition	Major	$15,000–50,000
bathroom fixtures · old and in poor condition	Major	$15,000–50,000
exterior siding · weathered and in poor condition	Major	$15,000–50,000
kitchen flooring · worn and in poor condition	Major	$15,000–50,000
interior walls · wallpaper peeling and in poor condition	Major	$15,000–50,000
windows · old and may need replacement	Major	$15,000–50,000
HVAC system · no visible issues, but may need replacement	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both landscaping and curb appeal — improving curb appeal can increase both resale and rental value ↑
• Both HVAC system — replacing the HVAC system can improve comfort and energy efficiency, increasing both resale and rental value ↑
• Both kitchen cabinets and flooring — updating the kitchen can increase both resale and rental value ↑
• Both bathroom fixtures — updating the bathroom can increase both resale and rental value ↑
• Both interior walls — replacing wallpaper can improve the interior appearance and increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Ayden

• Score: 76/100
• State rank: #41
• US rank: #3656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,754

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 0.58)
• Race & ethnicity: White 57% Black 29% Hispanic / Latino 13% Two or more races 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2% Cuban 1%
• Common ancestry: Serbian 3% Italian 1% Iranian 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 10%

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: ▼ -18.36%
• Current HPI: 190.2552
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-22 Listed $119,900 CANOPYMLS as Distributed by MLS Grid
• 2026-05-21 Coming Soon $119,900 CANOPYMLS as Distributed by MLS Grid