1324 Buffalo Rd · Smithfield, NC 27577

$175,000

3 bd · 2.0 ba · 1,488 sqft · SingleFamily public records · 442 Days on market

Built 1940 0.28 ac lot Est $287k · 39% under ↓ 12% 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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.9/10.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity or project for those looking to put their personal touch on a home! This 3-bedroom, 2-bathroom property is located just inside the city limits of Smithfield, NC, offering the perfect balance of quiet residential living and convenient access to city amenities. With a little TLC, this home has the potential to shine and become a cozy haven or an ideal rental property. The location is unbeatable! Enjoy easy access to shopping, downtown Smithfield, and a growing shopping center that's expanding with new stores, restaurants, and hotels. SOLD AS IS!

Key facts

• Downtown smithfield
• Convenient access
• 0.28 acre lot

Tags

• INVESTMENT OPPORTUNITY
• QUIET RESIDENTIAL LIVING
• CONVENIENT ACCESS
• GROWING SHOPPING CENTER
• EASY ACCESS TO SHOPPING
• DOWNTOWN SMITHFIELD

Property features AI

Finance

• Other: Lot size about 0.28 acres
• HOA & community: No homeowners association

Exterior

• Parking: 2-space carport; 2 open parking spaces (driveway/gravel); Total 4 parking spaces
• Utilities: Public water; Public sewer; Electricity available; Sewer connected; Water connected
• Home design: One-story home
• Construction: Wood siding; Shingle roof; Permanent foundation; Built living area approximately 1,512
• Exterior features: Screened porch; Public-maintained road

Interior

• Kitchen: Oven; Refrigerator; Water heater
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring; Linoleum flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Window cooling units
• Interior features: Kitchen and dining area combined; Screened porch

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $232 ($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 $172k (1.5% below list).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.5% in Smithfield — 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 66/100 on livability (#259 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.
• Johnston County Public Schools (rural): math 39% / reading 42% proficiency, ranked #105 of 178 in NC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Smithfield Middle (math 20% / reading 32%, grade F, #385 of 475 statewide, top 81%, 501 students, 99% FRL); Smithfield-Selma High (math 25% / reading 37%, grade F, #454 of 535 statewide, top 85%, 1,503 students, 69% FRL) — zoned schools average 84% FRL vs 41% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 40% district-wide (-12 pts) — the specific schools serving this property underperform the Johnston County Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.1%/yr); 401 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,783 units permitted in Johnston County in 2024 (6 in 5+ unit buildings).
• This rent runs 33% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Johnston County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 442 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 442 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.99% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.69%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $287,184
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Holland Dr S	0.10mi	3/1.0	1,355 (-9%)	5mo	$240,000	$177	72
369 Sturgeon St	0.62mi	3/2.5	1,549 (+4%)	1mo	$307,000	$198	62
440 Sturgeon St	0.67mi	3/2.0	1,328 (-11%)	1mo	$284,000	$214	50
643 Sturgeon St	0.75mi	3/2.0	1,360 (-9%)	2mo	$270,000	$199	49
6 Nottingham Pl	0.74mi	3/2.0	1,517 (+2%)	23mo	$250,000	$165	43
388 Holland Dr	0.41mi	3/1.5	1,265 (-15%)	15mo	$260,000	$206	42
572 Sturgeon St	0.74mi	3/2.5	1,625 (+9%)	17mo	$300,500	$185	34
605 N 4th St	0.71mi	3/2.0	1,360 (-9%)	23mo	$260,000	$191	34
607 N 4th St	0.71mi	3/2.0	1,360 (-9%)	23mo	$260,000	$191	34
505 Sturgeon St	0.74mi	4/2.5 (+1)	1,711 (+15%)	23mo	$329,800	$193	14

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.62×
• Total profit: $-18,640
• Equity at exit: $26,093

10-year hold

• IRR: -6.1%
• Equity multiple: 0.66×
• Total profit: $-16,802
• Equity at exit: $15,131

Cash invested: $49,000 (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 27577

• Home prices YoY: -23.7%
• Rents YoY: -1.1%
• Active inventory: 401
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,724 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$139 /mo · $1,670/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $232

Break-even live

Break-even rent $1,430

Max offer price $175,000

Occupancy floor 82%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
132 Cambridge Pl Smithfield, NC	2.0	2.5	1080	$1,399	$1.30	23d	1	0.64mi
303 Sunrise Ave Smithfield, NC	3.0	2.0	1148	$1,675	$1.46	23d	1	1.02mi
206 Britt St Smithfield, NC	3.0	1.0	1118	$1,650	$1.48	23d	1	1.44mi

Listing history 17 events

1. 2026-06-18
   days on market $175,000 Active 442 DOM
2. 2026-06-17
   days on market $175,000 Active 441 DOM
3. 2026-06-16
   days on market $175,000 Active 440 DOM
4. 2026-06-15
   days on market $175,000 Active 439 DOM
5. 2026-06-13
   days on market $175,000 Active 437 DOM
6. 2026-06-13
   days on market $175,000 Active 436 DOM
7. 2026-06-09
   days on market $175,000 Active 433 DOM
8. 2026-06-08
   days on market $175,000 Active 432 DOM
9. 2026-06-07
   days on market $175,000 Active 431 DOM
10. 2026-06-05
    days on market $175,000 Active 428 DOM
11. 2026-06-03
    days on market $175,000 Active 427 DOM
12. 2026-06-02
    days on market $175,000 Active 426 DOM
13. 2026-06-01
    days on market $175,000 Active 425 DOM
14. 2026-05-31
    days on market $175,000 Active 424 DOM
15. 2026-03-23
    price $175,000
16. 2025-07-22
    price $190,000
17. 2025-04-02
    listed $199,000 Active

ⓘ 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: $1,670 · $139/mo
• Projected year-2 tax: $1,670 · $139/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,690
• − Mortgage interest: −$9,803
• − Property taxes: −$1,670
• − Insurance: −$875
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$5,091
• Taxable loss: −$59
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $2,801/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: Johnston County Public Schools
• NCES district ID: 3702370
• Math proficiency: 39% ▲ 4.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $50,912
• Composite: 34.99/100
• National rank: #5052
• State rank: #105 of 178 in NC

Livability — Smithfield

• Score: 66/100
• State rank: #259
• US rank: #11380

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smithfield, NC
• County: Johnston County · 175,441 people
• City population: 28,354
• Metro: Raleigh-Cary, NC
• Population (ZIP): 28,354
• Household income: $62,758
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 919.0

Population outlook (Johnston County) Hauer SSP2

• Today (2025): 222,440 people
• By 2030: 240,227 · +8.0%
• By 2040: 274,616 · +23.5%
• By 2050: 304,915 · +37.1%
• By 2075: 369,507 · +66.1%
• By 2100: 406,280 · +82.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 19% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 2% Serbian 2% Slovak 1%
• Foreign-born: 12% · Canada, Jamaica, South Korea
• Languages at home: 80% English-only · Spanish 19%

Political lean MEDSL · Johnston

• 2024 margin: Strong R (+21.5) · D 38.7% · R 60.2% · Other 1.1%
• 2008→2024 swing: +2.2pp toward D · 2008: -23.7pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+24.3 2016: R+30.7 2012: R+27.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.11%
• Current HPI: 232.1552
• Rent YoY: ▼ -1.05%
• Metro: Raleigh-Cary, 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

-12.1% since first listed

3 events — show timeline

• 2026-03-23 Price Changed $175,000 TMLS
• 2025-07-22 Price Changed $190,000 TMLS
• 2025-04-02 Listed $199,000 TMLS

Property tax history

+5.3%/yr

Latest (2025): $1,670 · +86.2% YoY. Source: county tax records.