240 E Raleigh Blvd · Rocky Mount, NC 27801

$74,000

2 bd · 1.0 ba · 912 sqft · Other public records · 44 Days on market

Built 1920 9,147 sqft lot

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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
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Limited Time Listing. Priced to Sell. 240 E. Raleigh Blvd is an updated, move-in ready 2BR/1BA single-family home located minutes from Downtown Rocky Mount. With a layout that supports multiple tenant leasing, and the fresh interior updates, serviced HVAC, new carpet, new kitchen cabinets, and recent floor joist repairs, this property offers low maintenance, strong rental demand and immediate cash-flow potential. This is a turnkey rental in a market where: • Rents are rising • Rental inventory is tight • Investors dominate the buyer pool • Turnkey cash-flow opportunities under $100k are rare Property to be sold 'AS-IS'. Kitchen appliances will be placed in property pri

Key facts

• Move-in ready
• New carpet
• Serviced hvac

Tags

• MOVE-IN READY
• SERVICED HVAC
• NEW CARPET
• NEW KITCHEN CABINETS
• RECENT FLOOR JOIST REPAIRS
• TURNKEY RENTAL

Property features AI

Finance

• Other: Lot size about 0.21 acres; Living area approximately 1,005 (above-grade finished area 1,005; no below-grade finished area)
• HOA & community: No homeowners association; Not a senior community

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story house; Vinyl siding
• Construction: Vinyl siding construction; Asphalt shingle roof; Stone foundation; Built as a house (one level)
• Exterior features: Stone foundation; Public-maintained road access

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $74k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $72k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 4.5% in Rocky Mount — 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 (#134 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime 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: 133 active listings in the ZIP; lower-income renter base — watch delinquency; 50 units permitted in Edgecombe County in 2024 (5 in 5+ unit buildings).
• This rent runs 33% of the median local income ($45k/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 $512 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $71,780 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.65% ✓
• Cap rate: 13.62%
• Cash-on-cash: 26.16%
• DSCR: 2.16
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.9%
• Equity multiple: 1.81×
• Total profit: $16,798
• Equity at exit: $11,034

10-year hold

• IRR: 28.2%
• Equity multiple: 3.50×
• Total profit: $51,750
• Equity at exit: $6,398

Cash invested: $20,720 (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 27801

• Home prices YoY: -5.6%
• Active inventory: 133
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,219 medium
• Mortgage (P&I): −$388
• Tax est. 1.5%: −$92 /mo · $1,110/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $452

Break-even live

Break-even rent $647

Max offer price $74,000

Occupancy floor 58%

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: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-19
   days on market $74,000 Active 44 DOM
2. 2026-06-18
   days on market $74,000 Active 43 DOM
3. 2026-06-17
   days on market $74,000 Active 42 DOM
4. 2026-06-16
   days on market $74,000 Active 41 DOM
5. 2026-06-15
   days on market $74,000 Active 40 DOM
6. 2026-06-14
   days on market $74,000 Active 38 DOM
7. 2026-06-13
   days on market $74,000 Active 37 DOM
8. 2026-06-10
   days on market $74,000 Active 35 DOM
9. 2026-06-09
   days on market $74,000 Active 34 DOM
10. 2026-06-08
    days on market $74,000 Active 33 DOM
11. 2026-06-07
    days on market $74,000 Active 32 DOM
12. 2026-06-03
    days on market $74,000 Active 28 DOM
13. 2026-06-02
    days on market $74,000 Active 27 DOM
14. 2026-06-01
    days on market $74,000 Active 26 DOM
15. 2026-05-31
    days on market $74,000 Active 25 DOM
16. 2026-05-30
    days on market $74,000 Active 24 DOM
17. 2026-05-06
    listed $74,000 Active
18. 2026-04-30
    historical
19. 2026-04-07
    price $77,000
20. 2026-03-02
    price $82,000
21. 2025-10-03
    listed $90,000 Active
22. 2025-10-01
    historical
23. 2025-08-12
    price $79,900
24. 2025-06-14
    price $84,900
25. 2025-04-09
    status Active
26. 2025-03-24
    status Pending
27. 2025-03-24
    historical
28. 2025-02-22
    price $89,900
29. 2024-10-09
    price $99,900
30. 2024-09-05
    price $105,000
31. 2024-07-12
    price $124,900
32. 2024-06-11
    price $130,000
33. 2024-04-19
    listed $140,000 Active
34. 2023-09-20
    status Pending
35. 2023-09-19
    historical
36. 2023-09-10
    listed $41,500 Active

ⓘ 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 ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $14,630
• − Mortgage interest: −$4,145
• − Property taxes: −$1,110
• − Insurance: −$370
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$2,153
• Taxable income: $4,511
• Est. tax owed @ 24.0%: −$1,083
• After-tax cash flow: $4,338/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 — Rocky Mount

• Score: 70/100
• State rank: #134
• US rank: #7692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky Mount, NC
• County: Edgecombe County · 37,913 people
• City population: 70,300
• Metro: Rocky Mount, NC
• Population (ZIP): 19,532
• Household income: $44,884
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 900.0

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: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 24% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -17.65%
• Current HPI: 296.3428
• Rent YoY: —
• 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

+78.3% since first listed

20 events — show timeline

• 2026-05-06 Listed $74,000 TMLS
• 2026-04-30 Listing Removed — TMLS
• 2026-04-07 Price Changed $77,000 TMLS
• 2026-03-02 Price Changed $82,000 TMLS
• 2025-10-03 Listed $90,000 TMLS
• 2025-10-01 Coming Soon — TMLS
• 2025-08-12 Price Changed $79,900 Hive MLS
• 2025-06-14 Price Changed $84,900 Hive MLS
• 2025-04-09 Relisted — Hive MLS
• 2025-03-24 Pending — Hive MLS
• 2025-03-24 Listing Removed — Hive MLS
• 2025-02-22 Price Changed $89,900 Hive MLS
• 2024-10-09 Price Changed $99,900 Hive MLS
• 2024-09-05 Price Changed $105,000 Hive MLS
• 2024-07-12 Price Changed $124,900 Hive MLS
• 2024-06-11 Price Changed $130,000 Hive MLS
• 2024-04-19 Listed $140,000 Hive MLS
• 2023-09-20 Pending — TMLS
• 2023-09-19 Listing Removed — TMLS
• 2023-09-10 Listed $41,500 TMLS