300 E 2nd St · Kenly, NC 27542

$192,000

4 bd · 2.5 ba · 2,663 sqft · SingleFamily public records · 200 Days on market

Built 1905 9,148 sqft lot Est $365k · 47% under

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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 +22.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Presenting this beautiful well maintained historic Victorian with some of the original features in place! Grand entry foyer, spacious living room w/ fireplace, cozy den area, updated kitchen w/ solid surface tops, gas range & abundant cabinet space! Separate dining, 4 beds (1 down, 3 up), and 2.5 baths! Huge laundry room w/ half bath and cabinets w/ private entrance! Downstairs master w/ updated master bath and WIC! Sizable spare beds, walk out balcony, massive screened porch and 2 car detached garage!

Key facts

• Second-story balcony
• Screened back porch
• Walk-in closet

Tags

• FIRST-FLOOR PRIMARY SUITE
• WALK-IN CLOSET
• PRIVATE FIREPLACE
• SECOND-STORY BALCONY
• SCREENED BACK PORCH
• DETACHED TWO-CAR GARAGE

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Attached garage; 2-car garage; Driveway parking; On-site parking with garage facing side
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected; Cable available; Propane available
• Home design: Site-built house; Two levels
• Construction: Vinyl siding; Shingle roof; Crawl space foundation; Built in (year not provided)
• Exterior features: Enclosed and screened porch areas; Front porch and rear porch; Balcony; Private entrance; Rain gutters; Grassed yard

Interior

• Kitchen: Built-in gas range; Dishwasher; Refrigerator
• Bedrooms: 4 bedrooms total; 1 bedroom on the main level
• Flooring: Wood flooring; Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Propane heating; Wall furnace; Fireplace heating; Wall/window cooling units
• Interior features: Bathtub only in at least one bathroom; Separate shower and walk-in shower; Double vanity; High ceilings; Ceiling fans; Natural woodwork; Cedar closet(s); Storage space; Kitchen and dining area combined; Primary bedroom located downstairs; Smooth ceilings; Two fireplaces (one in living area, one in primary/bedroom)
• Laundry & utility: Washer and dryer included; Laundry inside on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $192k).
• Recommended offer: $169k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#183 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• 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: North Johnston Middle (math 26% / reading 36%, grade F, #326 of 475 statewide, top 69%, 600 students, 72% FRL); North Johnston High (math 27% / reading 37%, grade F, #445 of 535 statewide, top 84%, 787 students, 62% FRL) — zoned schools average 67% FRL vs 41% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 89 active listings in the ZIP; 2,783 units permitted in Johnston County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Johnston County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $54k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y ago; this cycle's ask has dropped $48k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $160k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% 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 $168,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.10% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.40%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $364,831
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 E 2nd St	0.21mi	4/3.0	2,683 (+1%)	6mo	$369,500	$138	82
204 E Bailey Ave	0.11mi	3/2.0 (-1)	2,937 (+10%)	7mo	$322,500	$110	64
607 E Second St	0.49mi	3/2.5 (-1)	2,585 (-3%)	10mo	$355,000	$137	59
409 E Second St	0.18mi	4/2.5	3,029 (+14%)	18mo	$356,000	$118	54

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 3.34×
• Total profit: $125,727
• Equity at exit: $172,969

10-year hold

• IRR: 25.7%
• Equity multiple: 7.58×
• Total profit: $353,708
• Equity at exit: $373,014

Cash invested: $53,760 (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 27542

• Home prices YoY: 16.6%
• Active inventory: 89
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,110 medium
• Mortgage (P&I): −$1,007
• Tax from tax record: −$248 /mo · $2,976/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $332

Break-even live

Break-even rent $1,690

Max offer price $192,000

Occupancy floor 79%

Sensitivity live

Price	-10% $440	-5% $386	+0% $332	+5% $277	+10% $223
Rent	-10% $165	-5% $248	+0% $332	+5% $415	+10% $498
Rate	-1.0pp $428	-0.5pp $380	base $332	+0.5pp $282	+1.0pp $231

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: $48,000
• Closing costs: $5,760
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $192,000 Active 200 DOM
2. 2026-06-18
   days on market $192,000 Active 197 DOM
3. 2026-06-17
   days on market $192,000 Active 196 DOM
4. 2026-06-16
   days on market $192,000 Active 195 DOM
5. 2026-06-15
   days on market $192,000 Active 194 DOM
6. 2026-06-13
   days on market $192,000 Active 192 DOM
7. 2026-06-13
   statusdays on market $192,000 Active 191 DOM
8. 2026-05-31
   status $192,000 Pending 189 DOM
9. 2026-04-30
   price $192,000
10. 2026-03-21
    price $199,999
11. 2026-03-12
    price $210,000
12. 2026-02-26
    status Active
13. 2025-12-16
    status Pending
14. 2025-11-12
    price $230,000
15. 2025-10-12
    price $238,000
16. 2025-09-11
    listed $240,000 Active
17. 2020-07-20
    soldstatus $160,000
18. 2020-04-18
    historical
19. 2020-04-02
    price $174,900
20. 2020-03-23
    status Active
21. 2020-03-05
    historical Contingent
22. 2020-02-25
    listed $175,000 Active
23. 2019-05-31
    soldstatus $157,900 513-char remark

    Show marketing remark (513 chars)

    Presenting this beautiful well maintained historic Victorian with some of the original features in place! Grand entry foyer, spacious living room w/ fireplace, cozy den area, updated kitchen w/ solid surface tops, gas range & abundant cabinet space! Separate dining, 4 beds (1 down, 3 up), and 2.5 baths! Huge laundry room w/ half bath and cabinets w/ private entrance! Downstairs master w/ updated master bath and WIC! Sizable spare beds, walk out balcony, massive screened porch and 2 car detached garage!

24. 2019-05-31
    soldstatus $157,900

    Show marketing remark (513 chars)

    Presenting this beautiful well maintained historic Victorian with some of the original features in place! Grand entry foyer, spacious living room w/ fireplace, cozy den area, updated kitchen w/ solid surface tops, gas range & abundant cabinet space! Separate dining, 4 beds (1 down, 3 up), and 2.5 baths! Huge laundry room w/ half bath and cabinets w/ private entrance! Downstairs master w/ updated master bath and WIC! Sizable spare beds, walk out balcony, massive screened porch and 2 car detached garage!

25. 2019-05-31
    soldstatus $157,900 Closed

    Show marketing remark (513 chars)

    Presenting this beautiful well maintained historic Victorian with some of the original features in place! Grand entry foyer, spacious living room w/ fireplace, cozy den area, updated kitchen w/ solid surface tops, gas range & abundant cabinet space! Separate dining, 4 beds (1 down, 3 up), and 2.5 baths! Huge laundry room w/ half bath and cabinets w/ private entrance! Downstairs master w/ updated master bath and WIC! Sizable spare beds, walk out balcony, massive screened porch and 2 car detached garage!

26. 2019-05-31
    soldstatus $158,000

    Show marketing remark (513 chars)

    Presenting this beautiful well maintained historic Victorian with some of the original features in place! Grand entry foyer, spacious living room w/ fireplace, cozy den area, updated kitchen w/ solid surface tops, gas range & abundant cabinet space! Separate dining, 4 beds (1 down, 3 up), and 2.5 baths! Huge laundry room w/ half bath and cabinets w/ private entrance! Downstairs master w/ updated master bath and WIC! Sizable spare beds, walk out balcony, massive screened porch and 2 car detached garage!

27. 2019-05-06
    historical Contingent
28. 2019-04-17
    status Active
29. 2019-04-16
    listed $159,900 513-char remark

    Show marketing remark (513 chars)

    Presenting this beautiful well maintained historic Victorian with some of the original features in place! Grand entry foyer, spacious living room w/ fireplace, cozy den area, updated kitchen w/ solid surface tops, gas range & abundant cabinet space! Separate dining, 4 beds (1 down, 3 up), and 2.5 baths! Huge laundry room w/ half bath and cabinets w/ private entrance! Downstairs master w/ updated master bath and WIC! Sizable spare beds, walk out balcony, massive screened porch and 2 car detached garage!

30. 2019-04-16
    listed $159,900

    Show marketing remark (513 chars)

    Presenting this beautiful well maintained historic Victorian with some of the original features in place! Grand entry foyer, spacious living room w/ fireplace, cozy den area, updated kitchen w/ solid surface tops, gas range & abundant cabinet space! Separate dining, 4 beds (1 down, 3 up), and 2.5 baths! Huge laundry room w/ half bath and cabinets w/ private entrance! Downstairs master w/ updated master bath and WIC! Sizable spare beds, walk out balcony, massive screened porch and 2 car detached garage!

31. 2019-04-09
    listed $159,900
32. 2019-04-09
    historical

ⓘ 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: $2,976 · $248/mo
• Projected year-2 tax: $2,976 · $248/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,314
• − Mortgage interest: −$10,755
• − Property taxes: −$2,976
• − Insurance: −$960
• − Repairs & maintenance: −$2,025
• − Management: −$2,025
• − Depreciation: −$5,585
• Taxable income: $987
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $3,743/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 — Kenly

• Score: 68/100
• State rank: #183
• US rank: #9261

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenly, NC
• Population (ZIP): 9,441

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 (74%)
• Race & ethnicity: White 74% Black 13% Hispanic / Latino 9% Two or more races 9%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Scotch-Irish 3% Serbian 1% Scottish 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 9%

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: ▲ 40.03%
• Current HPI: 280.6408
• 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

+20.1% since first listed

24 events — show timeline

• 2026-04-30 Price Changed $192,000 TMLS
• 2026-03-21 Price Changed $199,999 TMLS
• 2026-03-12 Price Changed $210,000 TMLS
• 2026-02-26 Relisted — TMLS
• 2025-12-16 Pending — TMLS
• 2025-11-12 Price Changed $230,000 TMLS
• 2025-10-12 Price Changed $238,000 TMLS
• 2025-09-11 Listed $240,000 TMLS
• 2020-07-20 Sold (Public Records) $160,000 Public Records
• 2020-04-18 Listing Removed — TMLS
• 2020-04-02 Price Changed $174,900 TMLS
• 2020-03-23 Relisted — TMLS
• 2020-03-05 Contingent — TMLS
• 2020-02-25 Listed $175,000 TMLS
• 2019-05-31 Sold (Public Records) $158,000 Public Records
• 2019-05-31 Sold (MLS) $157,900 TMLS
• 2019-05-31 Sold (MLS) $157,900 Hive MLS
• 2019-05-31 Sold (MLS) $157,900 Hive MLS
• 2019-05-06 Contingent — TMLS
• 2019-04-17 Relisted — TMLS
• 2019-04-16 Listed $159,900 Hive MLS
• 2019-04-16 Listed $159,900 Hive MLS
• 2019-04-09 Listing Removed — TMLS
• 2019-04-09 Listed $159,900 TMLS

Property tax history

+3.7%/yr

Latest (2025): $2,976 · +33.0% YoY. Source: county tax records.