207 N Pierce St · Washington, NC 27889

$89,000

2 bd · 1.0 ba · 1,422 sqft · SingleFamily public records · 358 Days on market

Built 1900 3,920 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Good Little investment opportunity, just a few blocks from downtown, long time tenant.

Key facts

• Downtown washington
• Total renovation
• 1900s house

Tags

• DOWNTOWN WASHINGTON
• 1900S HOUSE
• TOTAL RENOVATION

Property features AI

Exterior

• Parking: 1 open parking space; Off-street, on-site unpaved parking
• Utilities: Public water; Sewer available; Water available
• Home design: Single-family residence; Two levels
• Construction: Wood siding/frame construction; Metal roof
• Exterior features: Covered porch; Open lot; Paved road access

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: 5 total rooms; Crawl space basement; no full basement

🏷️ Possibly a rental listed for sale. The $89,000 price doesn't fit this home's estimated sale value (~$218,988) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 2.3% in Washington — 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 64/100 on livability (#341 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Beaufort County Schools (rural): math 39% / reading 42% proficiency, ranked #112 of 178 in NC (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Eastern Elementary (475 students, 99% FRL); P S Jones Middle (math 32% / reading 42%, grade F, #262 of 475 statewide, top 57%, 727 students, 100% FRL); Washington High (math 27% / reading 32%, grade F, #459 of 535 statewide, top 87%, 839 students, 99% FRL) — zoned schools average 99% FRL vs 67% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 162 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 216 units permitted in Beaufort County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Beaufort County population projected at -10% 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 358 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $31k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $89k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% 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 $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 358 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.51% ✓
• Cap rate: 13.29%
• Cash-on-cash: 25.00%
• DSCR: 2.11
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $218,988
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
743 W 2nd St	0.21mi	3/2.0 (+1)	1,394 (-2%)	6mo	$215,000	$154	73
612 Van Norden St	0.38mi	3/2.0 (+1)	1,327 (-7%)	0mo	$173,100	$130	62
510 Hackney Ave	0.43mi	2/1.0	1,267 (-11%)	2mo	$121,175	$96	60
233 E Water St	0.67mi	2/2.5	1,440 (+1%)	2mo	$575,000	$399	59
750 W 2nd St	0.22mi	2/2.0	1,572 (+10%)	11mo	$295,918	$188	59
601 W 2nd St	0.05mi	3/2.0 (+1)	1,562 (+10%)	21mo	$353,000	$226	55
108 E 7th St	0.62mi	3/1.0 (+1)	1,396 (-2%)	18mo	$187,000	$134	48
708 Gladden St	0.47mi	3/2.0 (+1)	1,233 (-13%)	14mo	$190,000	$154	36
318 E 2nd St	0.71mi	2/1.5	1,554 (+9%)	20mo	$445,000	$286	32
115 E 8th St	0.67mi	3/1.0 (+1)	1,250 (-12%)	22mo	$68,000	$54	26

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: 14.5%
• Equity multiple: 1.58×
• Total profit: $14,433
• Equity at exit: $13,270

10-year hold

• IRR: 23.2%
• Equity multiple: 3.00×
• Total profit: $49,765
• Equity at exit: $7,695

Cash invested: $24,920 (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 27889

• Home prices YoY: -24.4%
• Active inventory: 162
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,341 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$36 /mo · $438/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $453

Break-even live

Break-even rent $768

Max offer price $89,000

Occupancy floor 61%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1509 N Respess St Washington, NC	3.0	2.0	1284	$1,650	$1.29	20d	1	1.03mi

Listing history 22 events

1. 2026-06-19
   days on market $89,000 Active 358 DOM
2. 2026-06-18
   days on market $89,000 Active 357 DOM
3. 2026-06-17
   days on market $89,000 Active 356 DOM
4. 2026-06-16
   days on market $89,000 Active 355 DOM
5. 2026-06-15
   days on market $89,000 Active 354 DOM
6. 2026-06-14
   days on market $89,000 Active 352 DOM
7. 2026-06-13
   days on market $89,000 Active 351 DOM
8. 2026-06-10
   days on market $89,000 Active 349 DOM
9. 2026-06-09
   days on market $89,000 Active 348 DOM
10. 2026-06-08
    days on market $89,000 Active 347 DOM
11. 2026-06-07
    days on market $89,000 Active 346 DOM
12. 2026-06-03
    days on market $89,000 Active 342 DOM
13. 2026-06-02
    days on market $89,000 Active 341 DOM
14. 2026-06-01
    days on market $89,000 Active 340 DOM
15. 2026-05-31
    days on market $89,000 Active 339 DOM
16. 2026-05-30
    days on market $89,000 Active 338 DOM
17. 2026-04-21
    price $89,000
18. 2025-10-01
    price $105,000
19. 2025-06-26
    listed $120,000 Active
20. 2022-10-12
    soldstatus $41,000 Closed 86-char remark

    Show marketing remark (86 chars)

    Good Little investment opportunity, just a few blocks from downtown, long time tenant.

21. 2022-09-14
    status Pending 86-char remark

    Show marketing remark (86 chars)

    Good Little investment opportunity, just a few blocks from downtown, long time tenant.

22. 2022-09-14
    listed $45,000 Active 86-char remark

    Show marketing remark (86 chars)

    Good Little investment opportunity, just a few blocks from downtown, long time tenant.

ⓘ 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: $438 · $36/mo
• Projected year-2 tax: $730 · $61/mo
• Expected delta: +$292/yr (+$24/mo · 66.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 98% 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 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,095
• − Mortgage interest: −$4,985
• − Property taxes: −$438
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$2,589
• Taxable income: $4,265
• Est. tax owed @ 24.0%: −$1,024
• After-tax cash flow: $4,410/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: Beaufort County Schools
• NCES district ID: 3700330
• Math proficiency: 39% ▬ 0.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $40,486
• Composite: 33.99/100
• National rank: #5320
• State rank: #112 of 178 in NC

Livability — Washington

• Score: 64/100
• State rank: #341
• US rank: #13721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, NC
• County: Beaufort County · 24,371 people
• City population: 24,371
• Metro: Washington, NC
• Population (ZIP): 24,371
• Household income: $53,179
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 857.0

Population outlook (Beaufort County) Hauer SSP2

• Today (2025): 47,069 people
• By 2030: 46,417 · -1.4%
• By 2040: 44,455 · -5.6%
• By 2050: 42,239 · -10.3%
• By 2075: 37,349 · -20.7%
• By 2100: 32,434 · -31.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 58% Black 27% Hispanic / Latino 10% Two or more races 7%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 8% Vietnamese 1%

Political lean MEDSL · Beaufort

• 2024 margin: Solid R (+31.1) · D 34.1% · R 65.2%
• 2008→2024 swing: -13.7pp toward R · 2008: -17.4pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+25.9 2016: R+24.5 2012: R+19.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.40%
• Current HPI: 291.9128
• Rent YoY: —
• Metro: Washington, 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

+97.8% since first listed

6 events — show timeline

• 2026-04-21 Price Changed $89,000 Hive MLS
• 2025-10-01 Price Changed $105,000 Hive MLS
• 2025-06-26 Listed $120,000 Hive MLS
• 2022-10-12 Sold (MLS) $41,000 Hive MLS
• 2022-09-14 Pending — Hive MLS
• 2022-09-14 Listed $45,000 Hive MLS

Property tax history

-0.9%/yr

Latest (2025): $438 · +76.5% YoY. Source: county tax records.