207 Bell St · Elizabeth City, NC 27909

$75,000

3 bd · 1.5 ba · 1,616 sqft · SingleFamily · 38 Days on market

Built 1900 5,227 sqft lot ↓ 42% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Add a performing rental to your portfolio. Tenant-occupied 4BR/2.5BA home (approx. 1,600 sq ft) with $1,300/month rental income already in place. Tenants are currently month-to-month and are ready to sign a longer-term lease, offering stability for the next owner. Listed at $130,000 and priced for investors seeking cash flow. Sold AS-IS/WHERE-IS. Please do not disturb tenants.

Key facts

• 5,227 sq ft lot
• Built 1900
• Listed 38 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: No utilities specified
• Home design: Single-family residence; Two levels (2 stories); Entry on level 1; Vinyl siding and frame construction; Facing information not provided
• Construction: Vinyl siding; Frame construction; Shingle roof; Crawl space basement
• Exterior features: Front porch; No fencing; Shingle roof; Paved road access; Has view

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Other heating; Multi-unit cooling
• Interior features: Entrance foyer; Ceiling fans
• Laundry & utility: Electric water heater

🏷️ Possibly a rental listed for sale. The $75,000 price doesn't fit this home's estimated sale value (~$255,328) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 2.9% in Elizabeth City — 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 71/100 on livability (#119 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, commute F, employment F.
• Elizabeth City-Pasquotank Public Schools (rural): math 21% / reading 34% proficiency, ranked #152 of 178 in NC (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sheep-Harney Elementary (math 17% / reading 32%, grade F, #1,112 of 1,410 statewide, top 82%, 473 students, 99% FRL); Elizabeth City Middle (math 16% / reading 31%, grade F, #402 of 475 statewide, top 85%, 515 students, 99% FRL); Pasquotank County High (math 27% / reading 37%, grade F, #445 of 535 statewide, top 84%, 628 students, 100% FRL) — zoned schools average 99% FRL vs 56% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.0%/yr); 343 active listings in the ZIP; 153 units permitted in Pasquotank County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Pasquotank County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is D 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?
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: 2.14% ✓
• Cap rate: 19.28%
• Cash-on-cash: 46.38%
• DSCR: 3.06
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $255,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
911 Shillingtown Rd	0.20mi	4/2.0 (+1)	1,635 (+1%)	4mo	$344,000	$210	79
825 Parsonage St	0.44mi	3/2.0	1,629 (+1%)	0mo	$354,900	$218	76
409 E Burgess St	0.40mi	3/3.0	1,608 (-0%)	0mo	$265,000	$165	74
907 N Road St	0.18mi	4/2.0 (+1)	1,742 (+8%)	10mo	$212,000	$122	63
408 Walnut St	0.40mi	3/2.5	1,816 (+12%)	2mo	$205,000	$113	55
403 W Fearing St	0.64mi	3/2.0	1,740 (+8%)	1mo	$85,000	$49	54
503 Pearl St	0.45mi	4/1.5 (+1)	1,376 (-15%)	0mo	$39,000	$28	49
808 Cedar St	0.55mi	3/2.0	1,768 (+9%)	9mo	$273,000	$154	49
1001 Maple St	0.58mi	4/2.5 (+1)	1,704 (+5%)	9mo	$270,000	$158	47
409 E Broad St	0.40mi	3/2.5	1,376 (-15%)	11mo	$220,000	$160	44
1010 Cedar St	0.64mi	3/2.0	1,808 (+12%)	6mo	$260,000	$144	43
107 Selden St	0.67mi	3/2.5	1,842 (+14%)	0mo	$325,000	$176	41

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 · 4.02% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 1.68×
• Total profit: $14,289
• Equity at exit: $11,183

10-year hold

• IRR: 26.3%
• Equity multiple: 3.48×
• Total profit: $52,024
• Equity at exit: $6,485

Cash invested: $21,000 (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 27909

• Rents YoY: 4.0%
• Active inventory: 343
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,608 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$34 /mo · $412/yr
• Insurance: −$31
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $385

Break-even live

Break-even rent $1,121

Max offer price $75,000

Occupancy floor 71%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-18
   price $75,000
2. 2026-05-06
   price $99,900
3. 2026-04-20
   listed $130,000 Active

ⓘ 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: $412 · $34/mo
• Projected year-2 tax: $615 · $51/mo
• Expected delta: +$203/yr (+$17/mo · 49.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,299
• − Mortgage interest: −$4,201
• − Property taxes: −$412
• − Insurance: −$5,494
• − Repairs & maintenance: −$1,544
• − Management: −$1,544
• − Depreciation: −$2,182
• Taxable income: $3,923
• Est. tax owed @ 24.0%: −$941
• After-tax cash flow: $3,679/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: Elizabeth City-Pasquotank Public Schools
• NCES district ID: 3703540
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $45,294
• Composite: 23.63/100
• National rank: #7847
• State rank: #152 of 178 in NC

Livability — Elizabeth City

• Score: 71/100
• State rank: #119
• US rank: #7304

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elizabeth City, NC
• County: Pasquotank County · 40,869 people
• City population: 40,869
• Metro: Elizabeth City, NC
• Population (ZIP): 40,869
• Household income: $66,732
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1160.0

Population outlook (Pasquotank County) Hauer SSP2

• Today (2025): 38,172 people
• By 2030: 36,890 · -3.4%
• By 2040: 33,845 · -11.3%
• By 2050: 31,086 · -18.6%
• By 2075: 27,191 · -28.8%
• By 2100: 26,093 · -31.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 54% Black 35% Hispanic / Latino 6% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1% Vietnamese 1%

Political lean MEDSL · Pasquotank

• 2024 margin: Toss-up / Even · D 47.1% · R 52.0%
• 2008→2024 swing: -18.6pp toward R · 2008: 13.7pp · 2024: -4.9pp
• All cycles: 2024: R+4.9 2020: D+0.3 2016: D+2.2 2012: D+15.9 2008: D+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -141.03%
• Current HPI: 164.7511
• Rent YoY: ▲ 4.02%
• Metro: Elizabeth City, 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

-42.3% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $75,000 Hive MLS
• 2026-05-06 Price Changed $99,900 Hive MLS
• 2026-04-20 Listed $130,000 Hive MLS