101 Armstrong Dr · Jacksonville, NC 28540

$149,900

3 bd · 1.0 ba · 1,243 sqft · SingleFamily public records · 40 Days on market

Built 1961 0.28 ac lot Est $226k · 34% under

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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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Schools +3.9/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute and well maintained 3 bedroom, 1 bath home, situated on a corner lot in a well established area. This home has hardwood floors throughout the living room and bedrooms. The kitchen has a newer dishwasher that is only 6 months old, new countertops and new LVP. LVP floors extend into the large bonus room off the kitchen. Fresh paint throughout the home. Close and convenient to shopping and bases.

Key facts

• 0.28 acre lot
• Built 1961
• Listed 39 days

Property features AI

Finance

• Other: Zoning: RSF-7
• Financial info: No investor or multifamily income/expense details provided
• HOA & community: No association amenities

Exterior

• Parking: Paved parking
• Security: Smoke detector(s)
• Utilities: Public water; Sewer available; Water available; Electric service
• Home design: Single-family residence; One story; Entry level: 1; Brick and frame construction
• Construction: Brick and frame construction; Shingle roof; Crawl space foundation
• Exterior features: Chain link fencing around back yard; Shingle roof; Corner lot; Has a view; No additional exterior, patio, or porch features listed

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher
• Bedrooms: 6 total rooms (bedrooms and living areas included)
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric heating; Heat pump
• Interior features: Ceiling fan(s); Smoke detector(s)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/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 $145k (3.0% below list).
• Recommended offer: $145k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 4.4% in Jacksonville — 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 (#111 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, 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: Bell Fork Elementary (math 47% / reading 37%, grade F, #633 of 1,410 statewide, top 48%, 553 students, 71% FRL); Northwoods Park Middle (math 34% / reading 46%, grade F, #222 of 475 statewide, top 49%, 688 students, 52% FRL); Jacksonville High (math 52% / reading 66%, grade C+, #233 of 535 statewide, top 44%, 1,423 students, 44% FRL) — zoned schools average 56% FRL vs 37% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 380 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,246 units permitted in Onslow County in 2024 (0 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 13y 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.

Risks & watch-outs

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

Recommended offer $145,402 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1961 — 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. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.04%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $226,226
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Carver Rd	0.05mi	3/2.0	1,254 (+1%)	7mo	$240,000	$191	86
101 Cole Dr	0.06mi	3/1.0	1,074 (-14%)	0mo	$195,000	$182	74
127 King St	0.26mi	3/2.0	1,316 (+6%)	1mo	$245,000	$186	73
109 King St	0.18mi	3/2.0	1,307 (+5%)	11mo	$230,000	$176	70
400 Country Club Rd	0.51mi	4/2.0 (+1)	1,225 (-1%)	2mo	$207,000	$169	63
510 Nelson Dr	0.42mi	3/1.0	1,138 (-8%)	4mo	$150,000	$132	63
113 Sanders St	0.74mi	3/2.5	1,280 (+3%)	1mo	$236,000	$184	54
402 New River Dr	0.55mi	3/1.5	1,360 (+9%)	4mo	$226,500	$167	53
204 Fifth Ave	0.62mi	2/2.0 (-1)	1,164 (-6%)	1mo	$219,000	$188	51
416 New River Dr	0.55mi	2/1.0 (-1)	1,184 (-5%)	14mo	$92,000	$78	50
104 Thompson St	0.73mi	3/2.0	1,144 (-8%)	9mo	$210,000	$184	41
411 Nelson Dr	0.64mi	3/1.0	1,109 (-11%)	14mo	$122,000	$110	40

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 · 4.47% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-8,702
• Equity at exit: $22,351

10-year hold

• IRR: 5.7%
• Equity multiple: 1.45×
• Total profit: $18,806
• Equity at exit: $12,961

Cash invested: $41,972 (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 28540

• Home prices YoY: -21.5%
• Rents YoY: 4.5%
• Active inventory: 380
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,454 high
• Mortgage (P&I): −$786
• Tax from tax record: −$89 /mo · $1,068/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $211

Break-even live

Break-even rent $1,187

Max offer price $149,900

Occupancy floor 80%

Sensitivity live

Price	-10% $296	-5% $254	+0% $211	+5% $169	+10% $126
Rent	-10% $96	-5% $154	+0% $211	+5% $269	+10% $326
Rate	-1.0pp $287	-0.5pp $249	base $211	+0.5pp $172	+1.0pp $133

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
337 Starling St Jacksonville, NC	2.0	1.0	820	$1,100	$1.34	21d	1	0.67mi
129 Sanders St Jacksonville, NC	3.0	2.0	1198	$1,450	$1.21	21d	1	0.84mi
113 N Shore Dr Jacksonville, NC	3.0	1.0	1126	$1,395	$1.24	21d	1	1.08mi
16 White Oak St Jacksonville, NC	3.0	2.0	1150	$1,650	$1.43	21d	1	1.15mi
215 Valencia Dr Jacksonville, NC	1.0–2.0	1.0–2.0	842	$1,285	$1.53	21d	1	1.23mi
190 Valencia Dr Unit 110A Jacksonville, NC	2.0	2.0	1130	$1,425	$1.26	21d	1	1.35mi
320 Myrtlewood Cir Jacksonville, NC	3.0	1.5	1160	$1,300	$1.12	21d	1	1.35mi

Listing history 41 events

1. 2026-06-19
   days on market $149,900 Active 40 DOM
2. 2026-06-18
   days on market $149,900 Active 39 DOM
3. 2026-06-17
   days on market $149,900 Active 38 DOM
4. 2026-06-16
   days on market $149,900 Active 37 DOM
5. 2026-06-15
   days on market $149,900 Active 36 DOM
6. 2026-06-14
   days on market $149,900 Active 34 DOM
7. 2026-06-13
   remarks 522-char remark
8. 2026-06-13
   pricedays on market $149,900 Active 33 DOM
9. 2026-06-10
   days on market $157,000 Active 31 DOM
10. 2026-06-09
    days on market $157,000 Active 30 DOM
11. 2026-06-09
    days on market $157,000 Active 29 DOM
12. 2026-06-07
    days on market $157,000 Active 28 DOM
13. 2026-06-03
    days on market $157,000 Active 24 DOM
14. 2026-06-02
    days on market $157,000 Active 23 DOM
15. 2026-06-01
    days on market $157,000 Active 22 DOM
16. 2026-05-31
    days on market $157,000 Active 21 DOM
17. 2026-05-30
    days on market $157,000 Active 20 DOM
18. 2026-05-09
    listed $157,000 Active
19. 2022-12-02
    soldstatus $170,000 Closed 401-char remark

    Show marketing remark (401 chars)

    Cute and well maintained 3 bedroom, 1 bath home, situated on a corner lot in a well established area. This home has hardwood floors throughout the living room and bedrooms. The kitchen has a newer dishwasher that is only 6 months old, new countertops and new LVP. LVP floors extend into the large bonus room off the kitchen. Fresh paint throughout the home. Close and convenient to shopping and bases.

20. 2022-12-02
    soldstatus $170,000

    Show marketing remark (401 chars)

    Cute and well maintained 3 bedroom, 1 bath home, situated on a corner lot in a well established area. This home has hardwood floors throughout the living room and bedrooms. The kitchen has a newer dishwasher that is only 6 months old, new countertops and new LVP. LVP floors extend into the large bonus room off the kitchen. Fresh paint throughout the home. Close and convenient to shopping and bases.

21. 2022-10-28
    status Pending 401-char remark

    Show marketing remark (401 chars)

    Cute and well maintained 3 bedroom, 1 bath home, situated on a corner lot in a well established area. This home has hardwood floors throughout the living room and bedrooms. The kitchen has a newer dishwasher that is only 6 months old, new countertops and new LVP. LVP floors extend into the large bonus room off the kitchen. Fresh paint throughout the home. Close and convenient to shopping and bases.

22. 2022-10-23
    listed $175,000 Active 401-char remark

    Show marketing remark (401 chars)

    Cute and well maintained 3 bedroom, 1 bath home, situated on a corner lot in a well established area. This home has hardwood floors throughout the living room and bedrooms. The kitchen has a newer dishwasher that is only 6 months old, new countertops and new LVP. LVP floors extend into the large bonus room off the kitchen. Fresh paint throughout the home. Close and convenient to shopping and bases.

23. 2022-10-15
    historical $175,000 401-char remark

    Show marketing remark (401 chars)

    Cute and well maintained 3 bedroom, 1 bath home, situated on a corner lot in a well established area. This home has hardwood floors throughout the living room and bedrooms. The kitchen has a newer dishwasher that is only 6 months old, new countertops and new LVP. LVP floors extend into the large bonus room off the kitchen. Fresh paint throughout the home. Close and convenient to shopping and bases.

24. 2019-12-18
    soldstatus $104,500 686-char remark

    Show marketing remark (686 chars)

    If your looking for a home in good condition and centralized to everything on a corner lot, Look no further!! This is a well maintained 3 bedroom brick home with all NEW PAINT throughout the home and NEW CARPET in the bonus room! This home features hardwood floors in the living room extending through bedrooms and tile in the kitchen! The kitchen has updated counters, 36'' cabinets and all appliances are staying!! There is a large bonus room in the back with new carpet that is perfect for an office, play room, or additional living space!! Fenced in back yard is great for gatherings and cookouts. Close and very convenient to all bases, schools and shopping. Call today for a tour!

25. 2019-12-18
    soldstatus $104,500

    Show marketing remark (686 chars)

    If your looking for a home in good condition and centralized to everything on a corner lot, Look no further!! This is a well maintained 3 bedroom brick home with all NEW PAINT throughout the home and NEW CARPET in the bonus room! This home features hardwood floors in the living room extending through bedrooms and tile in the kitchen! The kitchen has updated counters, 36'' cabinets and all appliances are staying!! There is a large bonus room in the back with new carpet that is perfect for an office, play room, or additional living space!! Fenced in back yard is great for gatherings and cookouts. Close and very convenient to all bases, schools and shopping. Call today for a tour!

26. 2019-09-10
    historical
27. 2019-06-12
    listed $109,900 686-char remark

    Show marketing remark (686 chars)

    If your looking for a home in good condition and centralized to everything on a corner lot, Look no further!! This is a well maintained 3 bedroom brick home with all NEW PAINT throughout the home and NEW CARPET in the bonus room! This home features hardwood floors in the living room extending through bedrooms and tile in the kitchen! The kitchen has updated counters, 36'' cabinets and all appliances are staying!! There is a large bonus room in the back with new carpet that is perfect for an office, play room, or additional living space!! Fenced in back yard is great for gatherings and cookouts. Close and very convenient to all bases, schools and shopping. Call today for a tour!

28. 2019-02-20
    listed $109,900
29. 2018-03-29
    historical
30. 2018-02-23
    listed $74,000
31. 2017-08-21
    historical
32. 2017-04-29
    listed $74,000
33. 2016-03-08
    historical
34. 2015-04-13
    listed $90,000
35. 2014-05-23
    historical
36. 2014-05-23
    historical
37. 2014-03-12
    listed $105,000
38. 2014-03-12
    listed $105,000
39. 2013-11-12
    historical
40. 2013-01-29
    listed $110,000
41. 2011-12-06
    soldstatus $100,000

ⓘ 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: $1,068 · $89/mo
• Projected year-2 tax: $1,229 · $102/mo
• Expected delta: +$161/yr (+$13/mo · 15.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,448
• − Mortgage interest: −$8,397
• − Property taxes: −$1,068
• − Insurance: −$750
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$4,361
• Taxable income: $81
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $2,514/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 — Jacksonville

• Score: 71/100
• State rank: #111
• US rank: #6991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jacksonville, NC
• County: Onslow County · 164,453 people
• City population: 96,397
• Metro: Jacksonville, NC
• Population (ZIP): 49,141
• Household income: $65,625
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1304.0

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 0.58)
• Race & ethnicity: White 62% Black 14% Hispanic / Latino 14% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6%
• Common ancestry: Italian 3% Serbian 2% Romanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 90% English-only · Spanish 7% Chinese 1% Other Asian/Pacific 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: ▼ -60.11%
• Current HPI: 219.5571
• Rent YoY: ▲ 4.47%
• 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

+57.0% since first listed

24 events — show timeline

• 2026-05-09 Listed $157,000 Hive MLS
• 2022-12-02 Sold (Public Records) $170,000 Public Records
• 2022-12-02 Sold (MLS) $170,000 Hive MLS
• 2022-10-28 Pending — Hive MLS
• 2022-10-23 Listed $175,000 Hive MLS
• 2022-10-15 Coming Soon $175,000 Hive MLS
• 2019-12-18 Sold (Public Records) $104,500 Public Records
• 2019-12-18 Sold (MLS) $104,500 Hive MLS
• 2019-09-10 Listing Removed — Hive MLS
• 2019-06-12 Listed $109,900 Hive MLS
• 2019-02-20 Listed $109,900 Hive MLS
• 2018-03-29 Listing Removed — Hive MLS
• 2018-02-23 Listed $74,000 Hive MLS
• 2017-08-21 Listing Removed — Hive MLS
• 2017-04-29 Listed $74,000 Hive MLS
• 2016-03-08 Listing Removed — Hive MLS
• 2015-04-13 Listed $90,000 Hive MLS
• 2014-05-23 Listing Removed — Hive MLS
• 2014-05-23 Listing Removed — Hive MLS
• 2014-03-12 Listed $105,000 Hive MLS
• 2014-03-12 Listed $105,000 Hive MLS
• 2013-11-12 Listing Removed — Hive MLS
• 2013-01-29 Listed $110,000 Hive MLS
• 2011-12-06 Sold (Public Records) $100,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,068 · +0.0% YoY. Source: county tax records.