105 Tee Olive St · South Mills, NC 27976

$299,990

3 bd · 2.5 ba · 1,520 sqft · Townhouse · 13 Days on market

Built 2026 Poor condition Est $344k · 13% under $100/mo HOA · 3% of rent ↓ 6% since listing

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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 +21.2/30.0
• ARV discount +13.2/15.0
• DSCR +6.8/10.0
• 1% rule +6.0/10.0
• Schools +5.2/10.0
• Appreciation +4.8/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

Ready June/July! Experience the pride of homeownership with new garage townhomes, yards and amenities off Route 17 in South Mills. The community is convenient to Hampton Roads (just 30 minutes to Chesapeake) with low North Carolina taxes and highly-rated Camden County schools. The main level features a bright, open layout anchored by a gourmet kitchen with a spacious island that flows seamlessly into the living area—perfect for everyday living and entertaining. A dedicated dining space adds versatility for gatherings or quiet evenings in. Upstairs, three generously sized bedrooms provide abundant closet space and are complemented by a well-appointed hall bath. The luxury owner’s

Key facts

• $100 HOA
• Garage
• Built 2026

Property features AI

Finance

• Other: Neighborhood: South Mills Landing Towns
• HOA & community: Has HOA managed by Goodman Property Management; HOA fee approximately $100 monthly

Exterior

• Parking: Attached 1-car garage; Driveway parking spaces
• Utilities: City/County water; City/County sewer; Electric power; Electric water heater
• Home design: Attached property; Townhouse, traditional style; Three stories; Slab foundation; Simple ownership
• Construction: Vinyl exterior; Asphalt shingle roof; Slab foundation
• Exterior features: Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Energy Star appliances
• Bedrooms: One bedroom includes an ensuite
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Electric heat; Central air conditioning
• Interior features: Walk-in closet; Carpet and laminate flooring
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $300k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Cap rate 8.0% vs local median 5.0% in South Mills — 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 57/100 on livability (#612 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Camden County Schools (rural): math 56% / reading 64% proficiency, ranked #29 of 178 in NC (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Grandy Primary (math 87% / reading 72%, grade A, #24 of 1,410 statewide, top 2%, 607 students, 32% FRL); Camden County High (math 62% / reading 62%, grade B-, #184 of 535 statewide, top 37%, 464 students, 25% FRL).
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 105 units permitted in Camden County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $900 of equity ($2k loan paydown + $-1k appreciation (-0.4% local appreciation)).
• Camden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $18k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $299,990

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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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.
6. 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.
7. 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: 1.10% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.20%
• DSCR: 1.28
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $343,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 Peach St	0.02mi	3/2.5	1,520 (0%)	2mo	$296,310	$195	97
216 Peach St	0.05mi	3/2.5	1,520 (0%)	3mo	$313,485	$206	95
112 Tee Olive St	0.01mi	3/2.5	1,311 (-14%)	3mo	$330,990	$252	74
214 Peach St	0.13mi	3/2.5	1,307 (-14%)	3mo	$293,910	$225	68
204 Peach St	0.48mi	3/2.5	1,307 (-14%)	1mo	$289,680	$222	53
102 Tee Olive St	0.48mi	3/2.5	1,307 (-14%)	1mo	$294,990	$226	53
206 Peach St	0.48mi	3/2.5	1,307 (-14%)	2mo	$289,405	$221	53
202 Peach St	0.48mi	3/2.5	1,307 (-14%)	2mo	$315,150	$241	52
208 Peach St	0.48mi	3/2.5	1,307 (-14%)	2mo	$289,520	$222	52
220 Peach St	0.48mi	3/2.5	1,307 (-14%)	3mo	$302,360	$231	52
218 Peach St	0.48mi	3/2.5	1,307 (-14%)	3mo	$303,450	$232	52
226 Peach St	0.48mi	3/2.5	1,307 (-14%)	3mo	$314,450	$241	52

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

Projected returns pro-forma

-0.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.16×
• Total profit: $13,491
• Equity at exit: $81,283

10-year hold

• IRR: 9.3%
• Equity multiple: 1.97×
• Total profit: $81,059
• Equity at exit: $93,171

Cash invested: $83,997 (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 27976

• Home prices YoY: -0.2%
• Active inventory: 86
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,300 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$100
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $434

Break-even live

Break-even rent $2,751

Max offer price $299,990

Occupancy floor 82%

Sensitivity live

Price	-10% $641	-5% $537	+0% $434	+5% $330	+10% $227
Rent	-10% $173	-5% $303	+0% $434	+5% $564	+10% $695
Rate	-1.0pp $585	-0.5pp $510	base $434	+0.5pp $356	+1.0pp $277

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: $74,998
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Pampas ST South Mills, NC	4.0	2.5	1903	$3,300	$1.73	2d	1	0.62mi

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 5 events

1. 2026-04-16
   status Under Contract
2. 2026-04-03
   price $299,990
3. 2026-04-03
   status Active
4. 2026-02-27
   historical
5. 2026-02-26
   listed $317,760

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

Taxation est. · year 1

• Rental income: $39,600
• − Mortgage interest: −$16,804
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,168
• − Management: −$3,168
• − HOA: −$1,200
• − Depreciation: −$8,727
• Taxable income: $533
• Est. tax owed @ 24.0%: −$128
• After-tax cash flow: $5,078/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 · 2 photos

Poor 20/100 Extensive rehab

This townhouse requires extensive repairs and major updates to its roof, siding, and flooring. Significant structural issues are evident, and a complete renovation is necessary to bring it up to market standards.

Repairs flagged

• Major roof — Significant damage to the roof as seen in the satellite image.
• Major exterior siding — Severe peeling and damage to the siding.
• Major flooring — Exposed soil and no visible flooring, indicating potential structural issues.

Value-add opportunities

• Both repair and replace roof — A new roof is essential for both safety and aesthetic appeal, significantly increasing the property's value.
• Both repair and replace exterior siding — A fresh coat of paint or replacement of the siding will improve the curb appeal and increase the property's value.
• Both repair and replace flooring — A new flooring system will improve the living experience and increase the property's value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage to the roof as seen in the satellite image.	Major	$15,000–50,000
exterior siding · Severe peeling and damage to the siding.	Major	$15,000–50,000
flooring · Exposed soil and no visible flooring, indicating potential structural issues.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both repair and replace roof — A new roof is essential for both safety and aesthetic appeal, significantly increasing the property's value. ↑
• Both repair and replace exterior siding — A fresh coat of paint or replacement of the siding will improve the curb appeal and increase the property's value. ↑
• Both repair and replace flooring — A new flooring system will improve the living experience and increase the property's 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: Camden County Schools
• NCES district ID: 3700600
• Math proficiency: 56% ▲ 8.00%
• Reading proficiency: 64% ▲ 4.00%
• Median HH income: $59,622
• Composite: 51.97/100
• National rank: #1643
• State rank: #29 of 178 in NC

Livability — South Mills

• Score: 57/100
• State rank: #612
• US rank: #22229

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Mills, NC
• Population (ZIP): 4,237

Population outlook (Camden County) Hauer SSP2

• Today (2025): 10,980 people
• By 2030: 11,246 · +2.4%
• By 2040: 11,562 · +5.3%
• By 2050: 11,572 · +5.4%
• By 2075: 11,450 · +4.3%
• By 2100: 10,648 · -3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Scotch-Irish 4% Portuguese 3% Romanian 3%
• Languages at home: 98% English-only · Arabic 1%

Political lean MEDSL · Camden

• 2024 margin: Solid R (+50.8) · D 24.2% · R 75.0%
• 2008→2024 swing: -18.8pp toward R · 2008: -32.0pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+46.6 2016: R+45.8 2012: R+34.0 2008: R+32.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.39%
• Current HPI: 174.2102
• 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

-5.6% since first listed

5 events — show timeline

• 2026-04-16 Pending — REINMLS
• 2026-04-03 Price Changed $299,990 REINMLS
• 2026-04-03 Relisted — REINMLS
• 2026-02-27 Listing Removed — REINMLS
• 2026-02-26 Listed $317,760 REINMLS