1209 Evergreen Rd · Rocky Mount, NC 27803

$115,000

4 bd · 2.0 ba · 1,606 sqft · MultiFamily public records · 61 Days on market

Built 1968 0.27 ac lot

---

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
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Income-producing duplex in Rocky Mount, NC -- fully occupied and cash flowing from day one. This 1,606 sq. ft. duplex sits on a 0.27-acre lot and features two units: a 2-bedroom layout at 1209 Evergreen (leased at 750/mo) and a 2-bedroom unit at 1211 Evergreen (leased at 650/mo), generating 1,400/month in gross rental income. Built in 1968 and rated in good condition, the property has solid bones with room for value-add upside. Back on the market at no fault of the seller!

Key facts

• Cash flowing
• Value add upside
• Two units

Tags

• INCOME PRODUCING DUPLEX
• FULLY OCCUPIED
• CASH FLOWING
• TWO UNITS
• VALUE ADD UPSIDE

Property features AI

Finance

• Financial info: Two-unit property; Owner pays: None
• HOA & community: No homeowners association

Exterior

• Parking: Open parking
• Utilities: Public water; Public sewer
• Home design: Duplex; One level
• Construction: Concrete construction; Concrete/slab foundation; Architectural shingle roof; 1 building
• Exterior features: Public-maintained road access; Lot of approximately 0.27 acres

Interior

• Bedrooms: 4 bedrooms
• Flooring: Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Space heater; Wall/window cooling units
• Interior features: Linoleum flooring

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $115k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $537/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.5% 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.
• Nash-Rocky Mount Schools (rural): math 20% / reading 32% proficiency, ranked #155 of 178 in NC (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.5%/yr); 171 active listings in the ZIP; 500 units permitted in Nash County in 2024 (0 in 5+ unit buildings).
• This rent runs 45% of the median local income ($60k/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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Nash County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $115k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 73% 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 $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.95% ✓
• Cap rate: 17.50%
• Cash-on-cash: 40.04%
• DSCR: 2.78
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $62,634
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1421 Blanton St	0.42mi	4/2.0	1,680 (+5%)	14mo	$65,000	$39	61

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: 39.1%
• Equity multiple: 2.73×
• Total profit: $55,558
• Equity at exit: $17,147

10-year hold

• IRR: 46.6%
• Equity multiple: 6.01×
• Total profit: $161,405
• Equity at exit: $9,943

Cash invested: $32,200 (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 27803

• Rents YoY: 5.5%
• Active inventory: 171
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,238 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$43 /mo · $512/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $1,074

Break-even live

Break-even rent $878

Max offer price $115,000

Occupancy floor 47%

Sensitivity live

Price	-10% $1,139	-5% $1,107	+0% $1,074	+5% $1,042	+10% $1,009
Rent	-10% $898	-5% $986	+0% $1,074	+5% $1,163	+10% $1,251
Rate	-1.0pp $1,132	-0.5pp $1,104	base $1,074	+0.5pp $1,045	+1.0pp $1,014

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,238
Total (2 units)			$2,238

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-07
   statusdays on market $115,000 Pending 61 DOM
2. 2026-06-03
   days on market $115,000 Active 60 DOM
3. 2026-06-02
   days on market $115,000 Active 59 DOM
4. 2026-06-01
   days on market $115,000 Active 58 DOM
5. 2026-05-31
   days on market $115,000 Active 57 DOM
6. 2026-05-30
   days on market $115,000 Active 56 DOM
7. 2026-05-08
   price $115,000
8. 2026-04-30
   price $120,000
9. 2026-04-20
   status Active
10. 2026-04-13
    status Pending
11. 2026-03-28
    listed $125,000 Active
12. 2024-08-23
    soldstatus $62,000

ⓘ 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: $512 · $43/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$431/yr (+$36/mo · 84.3%)

ⓘ 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 8/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% 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: $26,856
• − Mortgage interest: −$6,442
• − Property taxes: −$512
• − Insurance: −$575
• − Repairs & maintenance: −$2,148
• − Management: −$2,148
• − Depreciation: −$3,345
• Taxable income: $11,685
• Est. tax owed @ 24.0%: −$2,804
• After-tax cash flow: $10,088/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: Nash-Rocky Mount Schools
• NCES district ID: 3703270
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $41,553
• Composite: 22.04/100
• National rank: #8198
• State rank: #155 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: Nash County · 50,768 people
• City population: 70,300
• 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 (Nash County) Hauer SSP2

• Today (2025): 91,107 people
• By 2030: 89,193 · -2.1%
• By 2040: 84,959 · -6.7%
• By 2050: 80,517 · -11.6%
• By 2075: 72,941 · -19.9%
• By 2100: 63,602 · -30.2%

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 · Nash

• 2024 margin: Toss-up / Even · D 48.7% · R 50.5%
• 2008→2024 swing: -0.4pp no change · 2008: -1.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.2 2016: R+0.2 2012: D+0.9 2008: R+1.3

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

+85.5% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $115,000 TMLS
• 2026-04-30 Price Changed $120,000 TMLS
• 2026-04-20 Relisted — TMLS
• 2026-04-13 Pending — TMLS
• 2026-03-28 Listed $125,000 TMLS
• 2024-08-23 Sold (Public Records) $62,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $512 · +0.0% YoY. Source: county tax records.