2032 White Memorial Church Rd · Fuquay-Varina, NC 27592

$200,000

3 bd · 2.0 ba · 1,504 sqft · SingleFamily public records · 3 Days on market

Built 1900 0.94 ac lot Est $325k · 38% under

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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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +4.5/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTORS DREAM! Home is being sold as-is. 3 bedroom home with two full baths, living area, den, and covered porch, as well as large eat-in kitchen area. Home has a newer roof and hvac. Large garage outback. Fenced in yard at nearly an acre. This home is a great opportunity for tons of elbow grease or an investment/flip opportunity. Great location on a huge lot.

Key facts

• Covered porch
• Large eat-in kitchen
• Newer roof

Tags

• COVERED PORCH
• LARGE EAT-IN KITCHEN
• NEWER ROOF
• FENCED IN YARD
• HUGE LOT

Property features AI

Finance

• Other: Zoning: RAG; Living area approximately 1,515; Built area listed as 1,515
• HOA & community: No association

Exterior

• Utilities: Well water; Septic tank
• Home design: Single-story house; One level
• Construction: Construction materials: unknown (see remarks)
• Exterior features: Back yard fencing; Shingle roof; See remarks for foundation details; Lot nearly 1 acre (0.94 acres); Publicly maintained road access

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: See remarks regarding flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: See remarks for interior details

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/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 $189k (5.3% below list).
• Recommended offer: $189k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 3.0% in Fuquay-Varina — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Johnston County Public Schools (rural): math 39% / reading 42% proficiency, ranked #105 of 178 in NC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mcgee'S Crossroads Middle (math 26% / reading 40%, grade F, #305 of 475 statewide, top 65%, 749 students, 47% FRL); West Johnston High (math 44% / reading 47%, grade D-, #347 of 535 statewide, top 65%, 1,469 students, 38% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: 249 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,783 units permitted in Johnston County in 2024 (6 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 $6k of value loss. Plan a longer hold.
• Johnston County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $200k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $189,488 (5.3% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.95% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $324,864
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2032 White Memorial Church Rd	0.00mi	3/2.0	1,515 (+1%)	1mo	$250,000	$165	98
229 White Oak Farm Dr	0.32mi	3/2.0	1,471 (-2%)	12mo	$315,000	$214	72
443 Tranquil Ln	0.46mi	3/2.0	1,374 (-9%)	3mo	$260,000	$189	62
55 Edward Ct	0.57mi	3/2.0	1,370 (-9%)	1mo	$310,000	$226	58
1480 White Memorial Church Rd Rd	0.56mi	3/2.0	1,330 (-12%)	8mo	$320,000	$241	48
1575 Honeycutt Rd	0.64mi	3/2.0	1,356 (-10%)	21mo	$325,000	$240	36
1360 Honeycutt Rd	0.68mi	3/2.0	1,287 (-14%)	11mo	$278,000	$216	35
1333 Honeycutt Rd	0.75mi	3/2.0	1,278 (-15%)	6mo	$329,000	$257	35
112 Wagon Trl	0.75mi	3/2.0	1,674 (+11%)	14mo	$352,000	$210	34

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-12,712
• Equity at exit: $29,821

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $14,039
• Equity at exit: $17,292

Cash invested: $56,000 (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 27592

• Home prices YoY: -17.9%
• Active inventory: 249
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,895 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$54 /mo · $649/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $311

Break-even live

Break-even rent $1,502

Max offer price $200,000

Occupancy floor 79%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 Baysprings Ct Willow Spring, NC	3.0	2.0	1250	$1,650	$1.32	14d	1	0.41mi

Listing history 3 events

1. 2026-05-11
   status Pending
2. 2026-05-07
   listed $200,000 Active
3. 1992-09-01
   soldstatus $50,000

ⓘ 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: $649 · $54/mo
• Projected year-2 tax: $1,640 · $137/mo
• Expected delta: +$991/yr (+$83/mo · 152.6%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,739
• − Mortgage interest: −$11,203
• − Property taxes: −$649
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$5,818
• Taxable income: $430
• Est. tax owed @ 24.0%: −$103
• After-tax cash flow: $3,625/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: Johnston County Public Schools
• NCES district ID: 3702370
• Math proficiency: 39% ▲ 4.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $50,912
• Composite: 34.99/100
• National rank: #5052
• State rank: #105 of 178 in NC

Livability — Fuquay-Varina

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Johnston County · 175,441 people
• Metro: Raleigh-Cary, NC
• Population (ZIP): 21,114
• Household income: $104,252
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 84.0

Population outlook (Johnston County) Hauer SSP2

• Today (2025): 222,440 people
• By 2030: 240,227 · +8.0%
• By 2040: 274,616 · +23.5%
• By 2050: 304,915 · +37.1%
• By 2075: 369,507 · +66.1%
• By 2100: 406,280 · +82.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 8% Black 6%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Italian 5% Serbian 2% Slovak 2%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Spanish 11% German/W. Germanic 2%

Political lean MEDSL · Johnston

• 2024 margin: Strong R (+21.5) · D 38.7% · R 60.2% · Other 1.1%
• 2008→2024 swing: +2.2pp toward D · 2008: -23.7pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+24.3 2016: R+30.7 2012: R+27.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.54%
• Current HPI: 254.0078
• Rent YoY: —
• Metro: Raleigh-Cary, 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

+300.0% since first listed

3 events — show timeline

• 2026-05-11 Pending — TMLS
• 2026-05-07 Listed $200,000 TMLS
• 1992-09-01 Sold (Public Records) $50,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $649 · +38.5% YoY. Source: county tax records.