115 Brook Ave · Rockingham, NC 28379

$145,000

3 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 9 Days on market

Built 1960 7,500 sqft 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 3-bedroom, 1-bathroom single-family home is a fantastic opportunity for investors looking to expand their portfolio. With a spacious layout, this home is ready for rental or renovation for potential resale. Located minutes from downtown Rockingham with strong rental demand, this property presents a high-potential return on investment.

Key facts

• Fresh updates
• Off-street parking
• Gravel driveway

Tags

• OFF-STREET PARKING
• GRAVEL DRIVEWAY
• FULLY FENCED BACKYARD
• WASHER AND DRYER HOOKUPS
• BRAND-NEW GUTTERS
• FRESH UPDATES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 9.2% vs local median 6.0% in Rockingham — 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 63/100 on livability (#403 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: schools D-, crime F, amenities F.
• Richmond County Schools (town): math 30% / reading 36% proficiency, ranked #139 of 178 in NC (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 155 active listings in the ZIP; 54 units permitted in Richmond 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.
• Richmond County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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 $35k; list at $145k implies a 314% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $145,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.05% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.31%
• DSCR: 1.46
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $57,120
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 S Brookwood Ave	0.13mi	2/1.0 (-1)	1,060 (+4%)	4mo	$30,000	$28	79
417 Louise Ave	0.54mi	3/1.0	1,020 (0%)	1mo	$180,000	$176	74
1107 Armstead St	0.37mi	2/1.0 (-1)	984 (-4%)	5mo	$22,000	$22	68
1506 E Washington St	0.06mi	2/1.0 (-1)	1,080 (+6%)	23mo	$60,500	$56	63
117 Zion St	0.42mi	2/2.0 (-1)	1,056 (+4%)	12mo	$76,000	$72	55

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,345
• Equity at exit: $21,620

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $27,171
• Equity at exit: $12,537

Cash invested: $40,600 (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 28379

• Home prices YoY: -32.4%
• Active inventory: 155
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,528 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$37 /mo · $448/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $349

Break-even live

Break-even rent $1,086

Max offer price $145,000

Occupancy floor 72%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $145,000 Active 9 DOM
2. 2026-06-18
   days on market $145,000 Active 8 DOM
3. 2026-06-17
   days on market $145,000 Active 7 DOM
4. 2026-06-16
   days on market $145,000 Active 6 DOM
5. 2026-06-15
   days on market $145,000 Active 5 DOM
6. 2026-06-14
   days on market $145,000 Active 3 DOM
7. 2026-06-13
   remarks 412-char remark
8. 2026-06-13
   pricedays on marketlisting id $145,000 Active 2 DOM
9. 2026-06-10
   days on market $150,000 Active 22 DOM
10. 2026-06-09
    days on market $150,000 Active 21 DOM
11. 2026-06-08
    days on market $150,000 Active 20 DOM
12. 2026-06-07
    days on market $150,000 Active 19 DOM
13. 2026-06-05
    days on market $150,000 Active 16 DOM
14. 2026-06-03
    days on market $150,000 Active 15 DOM
15. 2026-06-02
    days on market $150,000 Active 14 DOM
16. 2026-06-01
    days on market $150,000 Active 13 DOM
17. 2026-05-31
    days on market $150,000 Active 12 DOM
18. 2026-05-30
    days on market $150,000 Active 11 DOM
19. 2026-05-20
    listed $150,000 Active
20. 2025-03-19
    soldstatus $35,000 Closed 350-char remark

    Show marketing remark (350 chars)

    This charming 3-bedroom, 1-bathroom single-family home is a fantastic opportunity for investors looking to expand their portfolio. With a spacious layout, this home is ready for rental or renovation for potential resale. Located minutes from downtown Rockingham with strong rental demand, this property presents a high-potential return on investment.

21. 2025-03-18
    status Pending 350-char remark

    Show marketing remark (350 chars)

    This charming 3-bedroom, 1-bathroom single-family home is a fantastic opportunity for investors looking to expand their portfolio. With a spacious layout, this home is ready for rental or renovation for potential resale. Located minutes from downtown Rockingham with strong rental demand, this property presents a high-potential return on investment.

22. 2025-03-07
    price $35,000 350-char remark

    Show marketing remark (350 chars)

    This charming 3-bedroom, 1-bathroom single-family home is a fantastic opportunity for investors looking to expand their portfolio. With a spacious layout, this home is ready for rental or renovation for potential resale. Located minutes from downtown Rockingham with strong rental demand, this property presents a high-potential return on investment.

23. 2025-03-07
    status Active 350-char remark

    Show marketing remark (350 chars)

    This charming 3-bedroom, 1-bathroom single-family home is a fantastic opportunity for investors looking to expand their portfolio. With a spacious layout, this home is ready for rental or renovation for potential resale. Located minutes from downtown Rockingham with strong rental demand, this property presents a high-potential return on investment.

24. 2025-01-17
    price $38,000 350-char remark

    Show marketing remark (350 chars)

    This charming 3-bedroom, 1-bathroom single-family home is a fantastic opportunity for investors looking to expand their portfolio. With a spacious layout, this home is ready for rental or renovation for potential resale. Located minutes from downtown Rockingham with strong rental demand, this property presents a high-potential return on investment.

25. 2024-11-15
    listed $40,000 Active 350-char remark

    Show marketing remark (350 chars)

    This charming 3-bedroom, 1-bathroom single-family home is a fantastic opportunity for investors looking to expand their portfolio. With a spacious layout, this home is ready for rental or renovation for potential resale. Located minutes from downtown Rockingham with strong rental demand, this property presents a high-potential return on investment.

ⓘ 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: $448 · $37/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$741/yr (+$62/mo · 165.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°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: $18,334
• − Mortgage interest: −$8,122
• − Property taxes: −$448
• − Insurance: −$725
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$4,218
• Taxable income: $1,887
• Est. tax owed @ 24.0%: −$453
• After-tax cash flow: $3,733/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: Richmond County Schools
• NCES district ID: 3703870
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $32,224
• Composite: 26.97/100
• National rank: #7076
• State rank: #139 of 178 in NC

Livability — Rockingham

• Score: 63/100
• State rank: #403
• US rank: #15356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockingham, NC
• City population: 24,068
• Population (ZIP): 24,068

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 42,892 people
• By 2030: 41,257 · -3.8%
• By 2040: 37,629 · -12.3%
• By 2050: 33,655 · -21.5%
• By 2075: 23,992 · -44.1%
• By 2100: 14,782 · -65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 56% Black 32% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+20.9) · D 39.2% · R 60.1%
• 2008→2024 swing: -22.4pp toward R · 2008: 1.5pp · 2024: -20.9pp
• All cycles: 2024: R+20.9 2020: R+14.8 2016: R+10.1 2012: D+2.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.10%
• Current HPI: 203.0628
• 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

+275.0% since first listed

7 events — show timeline

• 2026-05-20 Listed $150,000 FSBO.com
• 2025-03-19 Sold (MLS) $35,000 CANOPYMLS as Distributed by MLS Grid
• 2025-03-18 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-03-07 Price Changed $35,000 CANOPYMLS as Distributed by MLS Grid
• 2025-03-07 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-01-17 Price Changed $38,000 CANOPYMLS as Distributed by MLS Grid
• 2024-11-15 Listed $40,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+0.9%/yr

Latest (2025): $448 · -1.9% YoY. Source: county tax records.