175 Union Hall Rd · Winfall, NC 27944

$190,000

2 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 319 Days on market

Built 1946 5.95 ac lot ↓ 5% since listing

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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 +14.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Schools +3.9/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor Special with 5.9 Acres! Welcome to 175 Union Hall Rd in Hertford, NC — a rare opportunity to own nearly 6 acres of expansive land with two dwellings and multiple outbuildings. Please note: neither home is currently habitable. The property features a 2000 mobile home (not affixed) and a 1946 bungalow with 3 bedrooms and 1 bathroom. A large garage with cement flooring and other storage structures are also included. Electricity and water are not connected, and the county is in the process of determining the presence and location of one or more septic systems. A local farmer has a lease agreement to farm the rear acreage through the end of 2025. Use caution during showings&md

Key facts

• Large garage
• Flood zone x
• 5.9 acres

Tags

• 5.9 ACRES
• TWO DWELLINGS
• MULTIPLE OUTBUILDINGS
• LARGE GARAGE
• MATURE TREE LINE
• FLOOD ZONE X

Property features AI

Exterior

• Parking: Carport (1 space); Off-street parking on gravel, concrete, or unpaved surfaces
• Utilities: Public water; Septic tank sewer; Water connected
• Home design: Single-family residence; One story; Residential zoning; Road frontage on city street and state road
• Construction: Frame construction with vinyl siding; See remarks for additional construction details; Built on crawl space (no basement)
• Exterior features: Front porch; No fencing; Composition roof

Interior

• Kitchen: Pantry (kitchen storage)
• Bedrooms: 6 total rooms (includes all bedroom/room count)
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; No central cooling
• Interior features: Pantry; Electric water heater
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $49 ($590/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 $151k (20.6% below list).
• Recommended offer: $151k (20.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.6% in Winfall — 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 50/100 on livability (#705 in NC) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: amenities F, commute F, employment F.
• Perquimans County Schools (rural): math 44% / reading 48% proficiency, ranked #83 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perquimans Central (391 students, 65% FRL); Perquimans County Middle (math 39% / reading 48%, grade D, #182 of 475 statewide, top 40%, 366 students, 59% FRL); Perquimans County High (math 47% / reading 42%, grade F, #352 of 535 statewide, top 68%, 518 students, 59% FRL).
• Market conditions: 339 active listings in the ZIP; 46 units permitted in Perquimans County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Perquimans County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k 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 319 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 98% 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 $150,788 (20.6% below list)

Questions for the listing agent

1. It's been on market 319 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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: 0.79% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 25.1%
• Equity multiple: 3.00×
• Total profit: $106,529
• Equity at exit: $171,167

10-year hold

• IRR: 22.1%
• Equity multiple: 6.85×
• Total profit: $311,084
• Equity at exit: $369,128

Cash invested: $53,200 (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 27944

• Home prices YoY: 9.5%
• Active inventory: 339
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,508 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$66 /mo · $798/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $49

Break-even live

Break-even rent $1,446

Max offer price $190,000

Occupancy floor 92%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $190,000 Active 319 DOM
2. 2026-06-18
   days on market $190,000 Active 318 DOM
3. 2026-06-17
   days on market $190,000 Active 317 DOM
4. 2026-06-16
   days on market $190,000 Active 316 DOM
5. 2026-06-15
   days on market $190,000 Active 315 DOM
6. 2026-06-14
   days on market $190,000 Active 313 DOM
7. 2026-06-12
   days on market $190,000 Active 312 DOM
8. 2026-06-09
   days on market $190,000 Active 309 DOM
9. 2026-06-08
   days on market $190,000 Active 308 DOM
10. 2026-06-07
    days on market $190,000 Active 307 DOM
11. 2026-06-03
    days on market $190,000 Active 303 DOM
12. 2026-06-02
    days on market $190,000 Active 302 DOM
13. 2026-06-01
    days on market $190,000 Active 301 DOM
14. 2026-05-31
    days on market $190,000 Active 300 DOM
15. 2026-05-30
    days on market $190,000 Active 299 DOM
16. 2026-03-23
    status Active
17. 2026-03-06
    historical Active Under Contract
18. 2026-02-06
    price $190,000
19. 2025-08-04
    listed $200,000 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: $798 · $66/mo
• Projected year-2 tax: $1,558 · $130/mo
• Expected delta: +$760/yr (+$63/mo · 95.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% 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: $18,095
• − Mortgage interest: −$10,643
• − Property taxes: −$798
• − Insurance: −$950
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$5,527
• Taxable loss: −$2,719
• Est. tax savings @ 24.0%: +$652
• After-tax cash flow: $1,243/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: Perquimans County Schools
• NCES district ID: 3703600
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 48% ▲ 7.00%
• Median HH income: $42,593
• Composite: 38.75/100
• National rank: #4124
• State rank: #83 of 178 in NC

Livability — Winfall

• Score: 50/100
• State rank: #705
• US rank: #25598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,255

Population outlook (Perquimans County) Hauer SSP2

• Today (2025): 13,018 people
• By 2030: 12,716 · -2.3%
• By 2040: 11,895 · -8.6%
• By 2050: 10,981 · -15.6%
• By 2075: 8,931 · -31.4%
• By 2100: 7,101 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 20% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada, China, Dominican Republic
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Perquimans

• 2024 margin: Solid R (+39.4) · D 29.7% · R 69.1% · Other 1.2%
• 2008→2024 swing: -25.4pp toward R · 2008: -13.9pp · 2024: -39.4pp
• All cycles: 2024: R+39.4 2020: R+32.2 2016: R+28.1 2012: R+16.1 2008: R+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.77%
• Current HPI: 261.91
• 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

-5.0% since first listed

4 events — show timeline

• 2026-03-23 Relisted — Hive MLS
• 2026-03-06 Contingent — Hive MLS
• 2026-02-06 Price Changed $190,000 Hive MLS
• 2025-08-04 Listed $200,000 Hive MLS

Property tax history

-6.0%/yr

Latest (2025): $798 · +0.0% YoY. Source: county tax records.