256 Stricklands Crossroads Rd · Newton Grove, NC 27524

$175,000

3 bd · 1.0 ba · 1,624 sqft · SingleFamily public records · 185 Days on market

Built 1960 1.99 ac lot

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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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NO HOA - Investor's Playground with Built-In Potential! Ideal for adding to your rental portfolio or updating for resale. Bring your vision and unlock the upside this property has to offer. The roof and windows were replaced within the last 6 years—now it just needs your imagination and a little elbow grease. Home is being sold as-is.

Key facts

• 1.99 acre lot
• Built 1960
• Listed 185 days

Property features AI

Finance

• Other: Property sits on approximately 1.99 acres; Living area approximately 1,607 above-grade square feet; Above-grade finished area source: Appraiser
• HOA & community: No homeowners association

Exterior

• Utilities: Public water; Septic tank sewer
• Home design: Site-built single-story home; Entry level: One level
• Construction: Wood siding exterior; Metal roof; Pillar/post/pier foundation; Built as site-built construction
• Exterior features: Shed(s) and storage structure(s); Public maintained road access

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Vinyl flooring; Wood flooring; Other flooring
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Vinyl, wood and other flooring; Fixer condition

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#322 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime C-, amenities F, commute 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: South Johnston High (math 27% / reading 27%, grade F, #468 of 535 statewide, top 88%, 1,331 students, 56% FRL) — zoned schools average 56% FRL vs 41% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 40% district-wide (-14 pts) — the specific schools serving this property underperform the Johnston County Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 179 active listings in the ZIP; 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 $5k 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

• It's been on market 185 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 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 1960 — 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 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?
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: 1.00% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.41%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.6%
• Equity multiple: 0.87×
• Total profit: $-6,552
• Equity at exit: $26,093

10-year hold

• IRR: 6.1%
• Equity multiple: 1.45×
• Total profit: $22,162
• Equity at exit: $15,131

Cash invested: $49,000 (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 27524

• Home prices YoY: -8.4%
• Active inventory: 179
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,755 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $344

Break-even live

Break-even rent $1,320

Max offer price $175,000

Occupancy floor 75%

Sensitivity live

Price	-10% $443	-5% $393	+0% $344	+5% $294	+10% $244
Rent	-10% $205	-5% $274	+0% $344	+5% $413	+10% $482
Rate	-1.0pp $432	-0.5pp $388	base $344	+0.5pp $298	+1.0pp $252

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-02
   status $175,000 Pending 185 DOM
2. 2026-06-01
   days on market $175,000 Active 185 DOM
3. 2026-05-31
   days on market $175,000 Active 184 DOM
4. 2025-11-28
   listed $175,000 Active
5. 2025-11-28
   price $175,000
6. 2025-11-27
   historical $170,000

ⓘ 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: $629 · $52/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$806/yr (+$67/mo · 128.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $21,062
• − Mortgage interest: −$9,803
• − Property taxes: −$629
• − Insurance: −$875
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − Depreciation: −$5,091
• Taxable income: $1,295
• Est. tax owed @ 24.0%: −$311
• After-tax cash flow: $3,812/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 — Newton Grove

• Score: 65/100
• State rank: #322
• US rank: #13255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,420

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 20% Black 12% Two or more races 4%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 10% · Canada
• Languages at home: 82% English-only · Spanish 17%

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: ▼ -23.19%
• Current HPI: 252.1481
• 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

+2.9% since first listed

3 events — show timeline

• 2025-11-28 Listed $175,000 TMLS
• 2025-11-28 Price Changed $175,000 TMLS
• 2025-11-27 Coming Soon $170,000 TMLS

Property tax history

+2.4%/yr

Latest (2025): $629 · +23.5% YoY. Source: county tax records.