2637 Hwy 48 · South Rosemary, NC 27870

$99,000

3 bd · 1.5 ba · 1,860 sqft · SingleFamily public records · 113 Days on market

Built 1966 0.67 ac lot ↓ 34% 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Please do not enter without permission due to ongoing work. This roomy home with lots of potential is being sold As-Is, offering 1800 sq. ft. , 3 bedrooms, plus 2 extra rooms currently used as bedrooms, 2 full baths, and a half bath in one bedroom. It has mostly wood floors, a spacious living room, formal dining area, kitchen with pine cabinets, propane heat, and a laundry room off the attached carport. The sale includes two parcels (1203858 & 1202674). Most photos were taken before the home was rented, and it now needs repairs. A few photos show its current condition after the tenant lived there, while the earlier ones highlight its potential. The two outbuildings in the back are not

Key facts

• Formal dining
• Wood floors
• Laundry room

Tags

• WOOD FLOORS
• LARGE LIVING ROOM
• FORMAL DINING
• KITCHEN WITH PINE CABINETS
• PROPANE HEAT
• LAUNDRY ROOM

Property features AI

Finance

• Other: Lot size approximately 0.67 acres; Zoned residential

Exterior

• Parking: Attached carport; Detached carport; Has carport
• Utilities: Public water; Septic tank sewer
• Home design: Residential property (Residential/Vacation subtype); One level
• Construction: Brick and vinyl siding construction; Other construction materials
• Exterior features: Front porch; Rear porch; Property has a view; Road surface: Other

Interior

• Kitchen: Gas range and gas oven; Refrigerator
• Bedrooms: Total of 8 rooms (bedrooms and living areas combined)
• Flooring: Wood flooring; Tile flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Heating system: Other
• Interior features: Gas Range; Gas Oven; Refrigerator; Wood, tile and vinyl flooring; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#546 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Halifax County Schools (rural): math 6% / reading 24% proficiency, ranked #177 of 178 in NC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Halifax County Early College High (math 75% / reading 70%, grade B+, #106 of 535 statewide, top 20%, 128 students, 98% FRL) — zoned schools average 98% FRL vs 82% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 72% at this address vs 15% district-wide (+57 pts) — the actual schools serving this property are materially stronger than the Halifax County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 147 active listings in the ZIP; 55 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($50k/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 $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Halifax County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $36k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; major wind risk, 64% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.31% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.77%
• DSCR: 1.70
• GRM: 6.4

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $3,664
• Equity at exit: $14,761

10-year hold

• IRR: 13.0%
• Equity multiple: 2.03×
• Total profit: $28,673
• Equity at exit: $8,560

Cash invested: $27,720 (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 27870

• Home prices YoY: -21.1%
• Active inventory: 147
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$100 /mo · $1,199/yr
• Insurance: −$41
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $309

Break-even live

Break-even rent $906

Max offer price $99,000

Occupancy floor 71%

Sensitivity live

Price	-10% $365	-5% $337	+0% $309	+5% $281	+10% $253
Rent	-10% $206	-5% $258	+0% $309	+5% $360	+10% $411
Rate	-1.0pp $359	-0.5pp $334	base $309	+0.5pp $283	+1.0pp $257

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-03
   status $99,000 Pending 113 DOM
2. 2026-06-02
   days on market $99,000 Active 113 DOM
3. 2026-06-01
   days on market $99,000 Active 112 DOM
4. 2026-05-31
   days on market $99,000 Active 111 DOM
5. 2026-05-30
   days on market $99,000 Active 110 DOM
6. 2026-05-01
   price $99,000
7. 2026-03-06
   price $120,000
8. 2026-02-16
   status Active
9. 2025-09-30
   listed $135,000 Active
10. 2023-09-02
    status Pending
11. 2023-08-09
    historical
12. 2023-03-09
    historical
13. 2021-01-10
    listed $149,900

ⓘ 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: $1,199 · $100/mo
• Projected year-2 tax: $1,199 · $100/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $15,565
• − Mortgage interest: −$5,546
• − Property taxes: −$1,199
• − Insurance: −$1,162
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$2,880
• Taxable income: $2,288
• Est. tax owed @ 24.0%: −$549
• After-tax cash flow: $3,156/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: Halifax County Schools
• NCES district ID: 3701950
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 24% ▼ -1.00%
• Median HH income: $29,104
• Composite: 11.7/100
• National rank: #9690
• State rank: #177 of 178 in NC

Livability — South Rosemary

• Score: 59/100
• State rank: #546
• US rank: #19997

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Halifax County · 24,958 people
• Metro: Roanoke Rapids, NC
• Population (ZIP): 24,958
• Household income: $49,502
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 822.0

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 47,976 people
• By 2030: 45,450 · -5.3%
• By 2040: 39,980 · -16.7%
• By 2050: 34,863 · -27.3%
• By 2075: 25,577 · -46.7%
• By 2100: 18,365 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 47% Black 40% Two or more races 7% Hispanic / Latino 5% Asian 1%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Halifax

• 2024 margin: D (+17.7) · D 58.5% · R 40.9%
• 2008→2024 swing: -10.6pp toward R · 2008: 28.2pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+21.2 2016: D+26.9 2012: D+32.0 2008: D+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.78%
• Current HPI: 179.1705
• Rent YoY: —
• Metro: Roanoke Rapids, 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

-34.0% since first listed

8 events — show timeline

• 2026-05-01 Price Changed $99,000 RVLG
• 2026-03-06 Price Changed $120,000 RVLG
• 2026-02-16 Relisted — RVLG
• 2025-09-30 Listed $135,000 RVLG
• 2023-09-02 Pending — RVLG
• 2023-08-09 Delisted — RVLG
• 2023-03-09 Delisted — RVLG
• 2021-01-10 Listed $149,900 RVLG

Property tax history

+6.1%/yr

Latest (2025): $1,199 · +0.9% YoY. Source: county tax records.