39 Cornell Dr · Piney Green, NC 28546

$230,000

3 bd · 2.0 ba · 1,225 sqft · SingleFamily public records · 37 Days on market

Built 1970 0.34 ac lot Est $214k · 7% over

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Why this score? — see what drove the D- 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 +14.6/30.0
• DSCR +4.4/10.0
• ARV discount +4.2/15.0
• Schools +3.9/10.0
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 3 bedroom 2 bath home with a bonus room located near the main gate of Camp Lejeune! You will love the remodeled kitchen! Home does NOT have a working HVAC unit. Seller financing may be available (vendee). Home was built prior to 1978 and may contain lead based paint.

Key facts

• Fenced in backyard
• Bonus room
• Updated kitchen

Tags

• BONUS ROOM
• UPDATED KITCHEN
• FENCED IN BACKYARD

Property features AI

Exterior

• Parking: Paved parking
• Utilities: Public water; Septic tank sewer; Water connected
• Home design: Single-family residence; One level/one story; Entry level: 1
• Construction: Brick and frame construction; Built with crawl space foundation
• Exterior features: Chain link backyard fence; Shingle roof; Has a view; No patio or porch listed

Interior

• Kitchen: Range, Dishwasher, Microwave, Refrigerator
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Electric heating; Heat pump
• Interior features: Washer, Dryer, Refrigerator, Range, Dishwasher, Microwave, Electric water heater; Crawl space basement; Has central air; Electric heating with heat pump; 6 total rooms
• Laundry & utility: Washer and Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $53 ($642/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 $180k (21.7% below list).
• Recommended offer: $180k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.6% in Piney Green — 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 60/100 on livability (#524 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, amenities F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Morton Elementary (math 53% / reading 48%, grade D+, #403 of 1,410 statewide, top 29%, 682 students, 58% FRL); Hunters Creek Middle (math 32% / reading 44%, grade F, #251 of 475 statewide, top 54%, 922 students, 55% FRL); White Oak High (math 57% / reading 54%, grade C, #265 of 535 statewide, top 50%, 1,207 students, 49% FRL) — zoned schools average 54% FRL vs 37% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.9%/yr); 612 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $137k; list at $230k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,102 (21.7% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.57%
• Cash-on-cash: 1.00%
• DSCR: 1.04
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $214,375
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Sheffield Rd	0.23mi	3/1.5	1,225 (0%)	6mo	$232,000	$189	82
111 Yorkshire Dr	0.18mi	3/1.5	1,280 (+4%)	4mo	$202,500	$158	79
2 Yorkshire Dr	0.28mi	4/2.0 (+1)	1,290 (+5%)	1mo	$231,000	$179	73
38 Cornell Dr	0.05mi	3/2.0	1,400 (+14%)	2mo	$225,000	$161	72
15 Oxford Dr	0.23mi	3/1.0	1,130 (-8%)	2mo	$122,999	$109	70
408 Sterling Rd	0.37mi	3/1.5	1,170 (-4%)	4mo	$205,000	$175	70
12 Cornell Dr	0.19mi	3/2.0	1,400 (+14%)	3mo	$245,000	$175	64
120 Princeton Dr	0.38mi	3/2.0	1,350 (+10%)	2mo	$246,000	$182	64
403 Halo Ct	0.73mi	3/2.0	1,242 (+1%)	1mo	$249,900	$201	63
174 Old 30 Rd	0.34mi	3/1.0	1,278 (+4%)	13mo	$216,900	$170	62
203 Devon Ct	0.32mi	3/1.5	1,400 (+14%)	3mo	$233,900	$167	57
304 Sheffield Rd	0.50mi	3/1.5	1,400 (+14%)	3mo	$224,900	$161	48

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 · 3.86% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.50×
• Total profit: $-32,399
• Equity at exit: $34,294

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-17,702
• Equity at exit: $19,886

Cash invested: $64,400 (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 28546

• Home prices YoY: -19.3%
• Rents YoY: 3.9%
• Active inventory: 612
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,801 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$67 /mo · $808/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $53

Break-even live

Break-even rent $1,733

Max offer price $230,000

Occupancy floor 92%

Sensitivity live

Price	-10% $184	-5% $119	+0% $53	+5% $-12	+10% $-77
Rent	-10% $-89	-5% $-18	+0% $53	+5% $125	+10% $196
Rate	-1.0pp $169	-0.5pp $112	base $53	+0.5pp $-6	+1.0pp $-67

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 White Stone Ct Jacksonville, NC	4.0	2.0	1460	$2,150	$1.47	22d	1	0.71mi
122 Basswood Ct Jacksonville, NC	3.0	1.0	1104	$1,400	$1.27	22d	1	1.22mi
110 Sycamore Dr Jacksonville, NC	3.0	2.0	1433	$1,750	$1.22	22d	1	1.40mi

Listing history 40 events

1. 2026-06-21
   days on market $230,000 Active 37 DOM
2. 2026-06-19
   days on market $230,000 Active 35 DOM
3. 2026-06-18
   days on market $230,000 Active 34 DOM
4. 2026-06-17
   days on market $230,000 Active 33 DOM
5. 2026-06-16
   days on market $230,000 Active 32 DOM
6. 2026-06-15
   days on market $230,000 Active 31 DOM
7. 2026-06-14
   days on market $230,000 Active 29 DOM
8. 2026-06-13
   remarks 526-char remark
9. 2026-06-13
   statusdays on market $230,000 Active 28 DOM
10. 2026-06-10
    days on market $230,000 Active Under Contract 26 DOM
11. 2026-06-09
    days on market $230,000 Active Under Contract 25 DOM
12. 2026-06-09
    days on market $230,000 Active Under Contract 24 DOM
13. 2026-06-07
    days on market $230,000 Active Under Contract 23 DOM
14. 2026-06-03
    days on market $230,000 Active Under Contract 19 DOM
15. 2026-06-02
    days on market $230,000 Active Under Contract 18 DOM
16. 2026-06-01
    days on market $230,000 Active Under Contract 17 DOM
17. 2026-05-31
    days on market $230,000 Active Under Contract 16 DOM
18. 2026-05-30
    statusdays on market $230,000 Active Under Contract 15 DOM
19. 2026-05-15
    listed $230,000 Active
20. 2024-08-14
    historical $1,550
21. 2024-07-24
    listed $1,550
22. 2024-03-14
    historical $1,375
23. 2024-02-24
    listed $1,375
24. 2024-02-07
    historical $1,375
25. 2024-02-02
    listed $1,375
26. 2022-02-14
    price $1,200
27. 2021-09-29
    soldstatus $136,900 273-char remark

    Show marketing remark (273 chars)

    Great 3 bedroom 2 bath home with a bonus room located near the main gate of Camp Lejeune! You will love the remodeled kitchen! Home does NOT have a working HVAC unit. Seller financing may be available (vendee). Home was built prior to 1978 and may contain lead based paint.

28. 2021-06-02
    listed $139,900 273-char remark

    Show marketing remark (273 chars)

    Great 3 bedroom 2 bath home with a bonus room located near the main gate of Camp Lejeune! You will love the remodeled kitchen! Home does NOT have a working HVAC unit. Seller financing may be available (vendee). Home was built prior to 1978 and may contain lead based paint.

29. 2020-10-13
    historical
30. 2020-09-14
    listed $133,500
31. 2017-12-01
    soldstatus $118,900
32. 2017-11-29
    soldstatus $119,000
33. 2017-08-22
    listed $118,900
34. 2017-06-30
    soldstatus $49,900
35. 2017-03-28
    listed $49,900
36. 2016-11-16
    historical
37. 2016-08-08
    listed $49,000
38. 2016-07-28
    historical
39. 2016-02-18
    listed $78,000
40. 2004-12-21
    soldstatus $59,000

ⓘ 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: $808 · $67/mo
• Projected year-2 tax: $1,886 · $157/mo
• Expected delta: +$1,078/yr (+$90/mo · 133.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,612
• − Mortgage interest: −$12,884
• − Property taxes: −$808
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,729
• − Management: −$1,729
• − Depreciation: −$6,691
• Taxable loss: −$3,378
• Est. tax savings @ 24.0%: +$811
• After-tax cash flow: $1,453/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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Piney Green

• Score: 60/100
• State rank: #524
• US rank: #19401

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piney Green, NC
• County: Onslow County · 164,453 people
• Metro: Jacksonville, NC
• Population (ZIP): 47,256
• Household income: $63,561
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1830.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 18% Hispanic / Latino 16% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 1% Serbian 1% Slovak 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.75%
• Current HPI: 211.9993
• Rent YoY: ▲ 3.86%
• Metro: Jacksonville, 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

+289.8% since first listed

22 events — show timeline

• 2026-05-15 Listed $230,000 Hive MLS
• 2024-08-14 Rental Removed $1,550 APPFOLIO
• 2024-07-24 Listed for Rent $1,550 APPFOLIO
• 2024-03-14 Rental Removed $1,375 APPFOLIO
• 2024-02-24 Listed for Rent $1,375 APPFOLIO
• 2024-02-07 Rental Removed $1,375 APPFOLIO
• 2024-02-02 Listed for Rent $1,375 APPFOLIO
• 2022-02-14 Price Changed $1,200 RENT.
• 2021-09-29 Sold (MLS) $136,900 Hive MLS
• 2021-06-02 Listed $139,900 Hive MLS
• 2020-10-13 Listing Removed — Hive MLS
• 2020-09-14 Listed $133,500 Hive MLS
• 2017-12-01 Sold (MLS) $118,900 Hive MLS
• 2017-11-29 Sold (Public Records) $119,000 Public Records
• 2017-08-22 Listed $118,900 Hive MLS
• 2017-06-30 Sold (MLS) $49,900 Hive MLS
• 2017-03-28 Listed $49,900 Hive MLS
• 2016-11-16 Listing Removed — Hive MLS
• 2016-08-08 Listed $49,000 Hive MLS
• 2016-07-28 Listing Removed — Hive MLS
• 2016-02-18 Listed $78,000 Hive MLS
• 2004-12-21 Sold (Public Records) $59,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $808 · +0.0% YoY. Source: county tax records.