815 Franklin St · Roanoke Rapids, NC 27870

$92,000

2 bd · 1.0 ba · 676 sqft · SingleFamily public records · 28 Days on market

Built 1950 0.32 ac lot Est $93k · at est.

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.8/15.0
• 1% rule +5.7/10.0
• Schools +2.9/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Small bungalow inside city limits. This property would make a great home for a lucky family with a little TLC. Some repairs needed. Bring all Offers!

Key facts

• Fenced back yard
• Heat pump
• Propane tank owned

Tags

• FENCED BACK YARD
• TWO SHEDS
• HEAT PUMP
• NEW WINDOWS
• PROPANE TANK OWNED

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Residential/Vacation subtype; Approximately 0.32 acres lot
• Exterior features: Garden; Storage structure on property; Front porch; Rear porch; Chain link fencing; Has a view

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump; Space heater; Central air
• Interior features: Electric oven, electric range, refrigerator; No fireplace; 4 total rooms; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $92k).
• Recommended offer: $91k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 4.1% in Roanoke Rapids — 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 56/100 on livability (#631 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A, housing B+; Watch: schools F, crime F, amenities F.
• Roanoke Rapids City Schools (town): math 31% / reading 37% proficiency, ranked #135 of 178 in NC (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 143 active listings in the ZIP; 55 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $15k; list at $92k implies a 513% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% 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 $90,620 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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 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?
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: 1.07% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.47%
• DSCR: 1.42
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $92,612
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 Waldo St	0.50mi	2/1.0	672 (-1%)	11mo	$60,000	$89	67
900 Ransome St	0.67mi	2/1.0	730 (+8%)	3mo	$100,000	$137	52

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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-1,983
• Equity at exit: $13,717

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $14,859
• Equity at exit: $7,954

Cash invested: $25,760 (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: 143
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $989 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$57 /mo · $684/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $203

Break-even live

Break-even rent $731

Max offer price $92,000

Occupancy floor 74%

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $92,000 Active 28 DOM
2. 2026-06-18
   days on market $92,000 Active 27 DOM
3. 2026-06-17
   days on market $92,000 Active 26 DOM
4. 2026-06-16
   days on market $92,000 Active 25 DOM
5. 2026-06-15
   days on market $92,000 Active 24 DOM
6. 2026-06-14
   days on market $92,000 Active 22 DOM
7. 2026-06-12
   days on market $92,000 Active 21 DOM
8. 2026-06-09
   days on market $92,000 Active 18 DOM
9. 2026-06-08
   days on market $92,000 Active 17 DOM
10. 2026-06-07
    days on market $92,000 Active 16 DOM
11. 2026-06-07
    days on market $92,000 Active 15 DOM
12. 2026-06-03
    days on market $92,000 Active 12 DOM
13. 2026-06-02
    days on market $92,000 Active 11 DOM
14. 2026-06-01
    days on market $92,000 Active 10 DOM
15. 2026-05-31
    days on market $92,000 Active 9 DOM
16. 2026-05-30
    days on market $92,000 Active 8 DOM
17. 2026-05-22
    listed $92,000 Active
18. 2010-05-20
    soldstatus $15,000 149-char remark

    Show marketing remark (149 chars)

    Small bungalow inside city limits. This property would make a great home for a lucky family with a little TLC. Some repairs needed. Bring all Offers!

19. 2010-04-02
    listed $22,900 149-char remark

    Show marketing remark (149 chars)

    Small bungalow inside city limits. This property would make a great home for a lucky family with a little TLC. Some repairs needed. Bring all Offers!

ⓘ 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: $684 · $57/mo
• Projected year-2 tax: $754 · $63/mo
• Expected delta: +$71/yr (+$6/mo · 10.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $11,864
• − Mortgage interest: −$5,153
• − Property taxes: −$684
• − Insurance: −$460
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$2,676
• Taxable income: $992
• Est. tax owed @ 24.0%: −$238
• After-tax cash flow: $2,201/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: Roanoke Rapids City Schools
• NCES district ID: 3703900
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $41,604
• Composite: 28.7/100
• National rank: #6689
• State rank: #135 of 178 in NC

Livability — Roanoke Rapids

• Score: 56/100
• State rank: #631
• US rank: #22900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Roanoke Rapids, NC
• County: Halifax County · 24,958 people
• City population: 24,958
• 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

+301.7% since first listed

3 events — show timeline

• 2026-05-22 Listed $92,000 RVLG
• 2010-05-20 Sold (MLS) $15,000 Hive MLS
• 2010-04-02 Listed $22,900 Hive MLS

Property tax history

-0.7%/yr

Latest (2025): $684 · +2.2% YoY. Source: county tax records.