1013 Drew St · Rocky Mount, NC 27801

$40,000

3 bd · 1.0 ba · 1,484 sqft · SingleFamily public records · 95 Days on market

Built 1930 7,500 sqft lot

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Why this score? — see what drove the D- 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 +11.6/30.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

See link to Auction.com to make to all offers/bids. https://www. auction.com/details/1013-drew-st-rocky-mount-nc-2037027

Key facts

• 7,500 sq ft lot
• Built 1930
• Listed 95 days

Property features AI

Exterior

• Parking: On-site unpaved parking
• Utilities: Natural gas available; Public water connected; Public sewer connected
• Home design: Single-family residence; One-story home; Entry level: 1; Frame construction
• Construction: Shingle/composition roof
• Exterior features: Front porch; Rear porch; No fencing; Road frontage on city street and state road

Interior

• Bedrooms: 4 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; No central cooling
• Interior features: Crawl space basement; Has a view

🔨 Auction listing. The $40,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $167,692 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $-52 ($-620/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 4.5% in Rocky Mount — 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 70/100 on livability (#134 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, employment F.
• Edgecombe County Public Schools (rural): math 21% / reading 27% proficiency, ranked #163 of 178 in NC (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: D S Johnson Elementary (math 3% / reading 13%, grade F, #1,396 of 1,410 statewide, top 99%, 362 students, 95% FRL); Rocky Mount Middle (math 7% / reading 26%, grade F, #449 of 475 statewide, top 96%, 407 students, 97% FRL); Southwest Edgecombe High (math 42% / reading 37%, grade F, #393 of 535 statewide, top 75%, 802 students, 100% FRL) — zoned schools average 97% FRL vs 74% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 134 active listings in the ZIP; lower-income renter base — watch delinquency; 50 units permitted in Edgecombe County in 2024 (5 in 5+ unit buildings).
• This rent runs 37% of the median local income ($45k/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.
• Edgecombe County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 6.3% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 76% 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 $36,400 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.84% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.32%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $167,692
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1136 Hill St	0.30mi	3/2.0	1,504 (+1%)	4mo	$185,000	$123	77
1313 Old Wilson Rd	0.30mi	3/2.0	1,440 (-3%)	2mo	$128,000	$89	76
1201 Cypress St	0.23mi	4/2.0 (+1)	1,533 (+3%)	4mo	$179,900	$117	71
1510 Old Wilson Rd	0.44mi	3/2.0	1,454 (-2%)	9mo	$151,500	$104	65
1132 Rosewood Ave	0.53mi	3/1.0	1,442 (-3%)	8mo	$162,500	$113	64
715 Clark St	0.45mi	4/1.0 (+1)	1,378 (-7%)	3mo	$40,000	$29	60
621 Clark St	0.51mi	3/1.0	1,401 (-6%)	9mo	$45,000	$32	59
1100 Long Ave	0.19mi	3/2.0	1,670 (+12%)	9mo	$210,000	$126	59
612 Short St	0.28mi	3/2.0	1,689 (+14%)	4mo	$135,000	$80	57
508 Buena Vista Ave	0.55mi	3/2.0	1,375 (-7%)	10mo	$171,900	$125	50
906 Arlington St	0.55mi	4/2.0 (+1)	1,326 (-11%)	1mo	$180,000	$136	47
1316 N Oakwood Dr	0.67mi	3/2.0	1,348 (-9%)	8mo	$139,900	$104	43

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: -18.5%
• Equity multiple: 0.35×
• Total profit: $-30,441
• Equity at exit: $25,003

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-30,657
• Equity at exit: $14,499

Cash invested: $46,954 (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 27801

• Home prices YoY: -5.6%
• Active inventory: 134
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,402 medium
• Mortgage (P&I): −$879
• Tax est. 1.5%: −$210 /mo · $2,515/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-52

Break-even live

Break-even rent $1,467

Max offer price $160,219

Occupancy floor 99%

Sensitivity live

Price	-10% $227	-5% $6	+0% $-52	+5% $-110	+10% $-168
Rent	-10% $-162	-5% $-107	+0% $-52	+5% $4	+10% $59
Rate	-1.0pp $33	-0.5pp $-9	base $-52	+0.5pp $-95	+1.0pp $-139

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: $41,923
• Closing costs: $5,031
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $40,000 Active 95 DOM
2. 2026-06-19
   days on market $40,000 Active 93 DOM
3. 2026-06-18
   days on market $40,000 Active 92 DOM
4. 2026-06-17
   days on market $40,000 Active 91 DOM
5. 2026-06-16
   days on market $40,000 Active 90 DOM
6. 2026-06-15
   days on market $40,000 Active 89 DOM
7. 2026-06-14
   days on market $40,000 Active 87 DOM
8. 2026-06-13
   days on market $40,000 Active 86 DOM
9. 2026-06-10
   days on market $40,000 Active 84 DOM
10. 2026-06-09
    days on market $40,000 Active 83 DOM
11. 2026-06-08
    days on market $40,000 Active 82 DOM
12. 2026-06-07
    days on market $40,000 Active 81 DOM
13. 2026-06-03
    days on market $40,000 Active 77 DOM
14. 2026-06-02
    days on market $40,000 Active 76 DOM
15. 2026-06-01
    days on market $40,000 Active 75 DOM
16. 2026-05-31
    days on market $40,000 Active 74 DOM
17. 2026-05-30
    days on market $40,000 Active 73 DOM
18. 2026-03-18
    listed $40,000 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: $310 · $26/mo
• Projected year-2 tax: $328 · $27/mo
• Expected delta: +$18/yr (+$1/mo · 5.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,819
• − Mortgage interest: −$9,393
• − Property taxes: −$2,515
• − Insurance: −$838
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$4,878
• Taxable loss: −$3,498
• Est. tax savings @ 24.0%: +$839
• After-tax cash flow: $220/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: Edgecombe County Public Schools
• NCES district ID: 3701320
• Math proficiency: 21% ▼ -2.00%
• Reading proficiency: 27% ▲ 2.00%
• Median HH income: $35,711
• Composite: 19.85/100
• National rank: #8696
• State rank: #163 of 178 in NC

Livability — Rocky Mount

• Score: 70/100
• State rank: #134
• US rank: #7692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky Mount, NC
• County: Edgecombe County · 37,913 people
• City population: 70,300
• Metro: Rocky Mount, NC
• Population (ZIP): 19,532
• Household income: $44,884
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 900.0

Population outlook (Edgecombe County) Hauer SSP2

• Today (2025): 47,800 people
• By 2030: 44,396 · -7.1%
• By 2040: 37,562 · -21.4%
• By 2050: 31,495 · -34.1%
• By 2075: 20,943 · -56.2%
• By 2100: 13,674 · -71.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 24% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Edgecombe

• 2024 margin: Strong D (+22.7) · D 61.0% · R 38.3%
• 2008→2024 swing: -11.8pp toward R · 2008: 34.5pp · 2024: 22.7pp
• All cycles: 2024: D+22.7 2020: D+27.0 2016: D+32.2 2012: D+36.4 2008: D+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.65%
• Current HPI: 296.3428
• Rent YoY: —
• Metro: Rocky Mount, 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

1 event — show timeline

• 2026-03-18 Listed $40,000 Hive MLS

Property tax history

-2.6%/yr

Latest (2025): $310 · +0.0% YoY. Source: county tax records.