17038 E Nc 55 Hwy · Stonewall, NC 28515

$89,000

2 bd · 1.0 ba · 1,575 sqft · SingleFamily · 32 Days on market

Built 1960 Fair condition 0.93 ac lot Est $60k · 49% over

---

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
• Appreciation +5.0/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.4/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0

Listing remarks

A RESIDENTIAL AND/OR COMMERCIAL OPPORTUNITY IN THE STONEWALL COMMUNITY! Located on NC 55, with wide road frontage (over 208') and all of the unique potential you could ever want in a property, which is so conveniently located. The 2-bedroom residence has abundant character with a Southwest flavor is awaiting your renovations to make it your own! It is a ''Toolbox Special'', with work to be done, some extensive by appearance, but appears a great investment value and a highly adaptable floor plan! It has a metal roof, lots of tile work in the house, a large living room and fantastic country kitchen layout! The architectural style is enhanced by a huge double carport and covered patio area. Yo

Key facts

• Metal roof
• Double carport
• Large living room

Tags

• WIDE ROAD FRONTAGE
• METAL ROOF
• LARGE LIVING ROOM
• COUNTRY KITCHEN LAYOUT
• DOUBLE CARPORT
• COVERED PATIO AREA

Property features AI

Exterior

• Parking: 1 garage space with workshop area; Carport with 2 spaces; Additional off-street parking
• Utilities: Public water; Public sewer; Water and sewer connected
• Home design: Single-family residence; One story; Entry level: 1; Wood siding and frame construction
• Construction: Metal roof
• Exterior features: Patio; Pond view; Outbuildings including shed(s), storage, workshop; Additional on-site parking (gravel/unpaved areas); No fencing

Interior

• Kitchen: Gas range
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump (heating and cooling); Electric heating
• Interior features: Eat-in kitchen; Crawl space basement
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 47/100 on livability (#718 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Pamlico County Schools (rural): math 38% / reading 43% proficiency, ranked #111 of 178 in NC (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pamlico County Primary (math 32% / reading 52%, grade F, #633 of 1,410 statewide, top 48%, 345 students, 99% FRL); Pamlico County Middle (math 41% / reading 40%, grade F, #215 of 475 statewide, top 46%, 271 students, 98% FRL); Pamlico County High (math 47% / reading 47%, grade D-, #334 of 535 statewide, top 64%, 464 students, 54% FRL) — zoned schools average 84% FRL vs 56% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 23 active listings in the ZIP; 107 units permitted in Pamlico County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($615 loan paydown + $3k appreciation (3.0% local appreciation)).
• Pamlico County population projected at -28% 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% 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 $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.56% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.19%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $59,850
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17038 Nc 55 Hwy	0.03mi	2/1.0	1,578 (+0%)	3mo	$60,000	$38	96

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: 26.3%
• Equity multiple: 2.49×
• Total profit: $37,221
• Equity at exit: $40,018

10-year hold

• IRR: 27.0%
• Equity multiple: 4.83×
• Total profit: $95,550
• Equity at exit: $61,673

Cash invested: $24,920 (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 28515

• Active inventory: 23
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,388 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $415

Break-even live

Break-even rent $863

Max offer price $89,000

Occupancy floor 65%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $89,000 Active 32 DOM
2. 2026-06-18
   days on market $89,000 Active 31 DOM
3. 2026-06-17
   days on market $89,000 Active 30 DOM
4. 2026-06-16
   days on market $89,000 Active 29 DOM
5. 2026-06-15
   days on market $89,000 Active 28 DOM
6. 2026-06-14
   days on market $89,000 Active 26 DOM
7. 2026-06-13
   days on market $89,000 Active 25 DOM
8. 2026-06-10
   days on market $89,000 Active 23 DOM
9. 2026-06-09
   days on market $89,000 Active 22 DOM
10. 2026-06-08
    days on market $89,000 Active 21 DOM
11. 2026-06-07
    days on market $89,000 Active 20 DOM
12. 2026-06-05
    days on market $89,000 Active 17 DOM
13. 2026-06-02
    days on market $89,000 Active 15 DOM
14. 2026-06-01
    days on market $89,000 Active 14 DOM
15. 2026-05-31
    days on market $89,000 Active 13 DOM
16. 2026-05-30
    days on market $89,000 Active 12 DOM
17. 2026-05-18
    listed $89,000 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 8/10 Severe FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,657
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$2,589
• Taxable income: $3,840
• Est. tax owed @ 24.0%: −$922
• After-tax cash flow: $4,060/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

Fair 45/100 Moderate rehab

The property presents a fair condition with moderate rehabilitation needs, offering potential for significant value increase through updates.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — simple and outdated
• Moderate exterior siding — some discoloration
• Minor landscaping — simple landscaping

Value-add opportunities

• Both update kitchen cabinets and fixtures — modernizing kitchen would appeal to both buyers and renters
• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both repair and paint exterior siding — improving exterior appearance boosts both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · simple and outdated	Moderate	$3,000–15,000
exterior siding · some discoloration	Moderate	$3,000–15,000
landscaping · simple landscaping	Minor	$500–3,000
Total estimated repair cost · 4 items		$9,500–48,000

Value-add ROI direction

• Both update kitchen cabinets and fixtures — modernizing kitchen would appeal to both buyers and renters ↑
• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both repair and paint exterior siding — improving exterior appearance boosts 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: Pamlico County Schools
• NCES district ID: 3703510
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 43% ▲ 7.00%
• Median HH income: $42,650
• Composite: 34.19/100
• National rank: #5272
• State rank: #111 of 178 in NC

Livability — Stonewall

• Score: 47/100
• State rank: #718
• US rank: #26270

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stonewall, NC
• Population (ZIP): 2,759

Population outlook (Pamlico County) Hauer SSP2

• Today (2025): 12,046 people
• By 2030: 11,446 · -5.0%
• By 2040: 9,947 · -17.4%
• By 2050: 8,639 · -28.3%
• By 2075: 6,578 · -45.4%
• By 2100: 4,814 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 51% White 42% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 1% Italian 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Pamlico

• 2024 margin: Solid R (+32.1) · D 33.6% · R 65.7%
• 2008→2024 swing: -17.4pp toward R · 2008: -14.7pp · 2024: -32.1pp
• All cycles: 2024: R+32.1 2020: R+28.0 2016: R+26.6 2012: R+20.9 2008: R+14.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-05-18 Listed $89,000 Hive MLS