3813 W Wilson St · Farmville, NC 27828

$299,000

4 bd · 2.0 ba · 2,948 sqft · MultiFamily public records · 71 Days on market

Built 1895 0.49 ac lot ↓ 8% 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 +23.7/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

On a picture-perfect street in the heart of downtown Farmville stands a charming Victorian farmhouse, full of character and possibility. Just a short walk from the town's best shops, dining, and everyday conveniences, this home offers not only a place to live--but a lifestyle to enjoy. As you approach, the stunning wraparound porch seems to greet you with open arms, inviting you to sit, relax, and stay awhile. Step through the front door into a grand central hallway--true to the home's Victorian roots--guides you through the living spaces. Sunlight pours into the large rooms, highlighting the tall ceilings and timeless details that give the home its classic appeal. With three bedrooms, form

Key facts

• In law suite
• Private retreat
• Wraparound porch

Tags

• WRAPAROUND PORCH
• GRAND CENTRAL HALLWAY
• SEPARATE ONE STORY SPACE
• PRIVATE RETREAT
• IN LAW SUITE
• COVERED BACK PORCH

Property features AI

Exterior

• Parking: Additional parking available
• Utilities: Natural gas available
• Home design: Single-family residence; Residential property; Two-story home; Entry level: 1; Vinyl siding and frame construction
• Construction: Metal roof
• Exterior features: Covered patio/porch; Has a view; No fencing

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Master downstairs
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Master suite on the main level; High ceilings; Entrance foyer; Ceiling fans; Eat-in kitchen; 12 total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $281k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.0% in Farmville — 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 (#272 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, employment C-, crime F.
• Pitt County Schools (rural): math 41% / reading 44% proficiency, ranked #100 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: H B Sugg Elementary (401 students, 99% FRL); Farmville Middle (math 31% / reading 35%, grade F, #305 of 475 statewide, top 65%, 611 students, 100% FRL); Farmville Central High (math 42% / reading 47%, grade F, #352 of 535 statewide, top 68%, 789 students, 99% FRL) — zoned schools average 99% FRL vs 56% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 86 active listings in the ZIP; 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Pitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.15%
• DSCR: 1.36
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-12,281
• Equity at exit: $44,582

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $35,785
• Equity at exit: $25,852

Cash invested: $83,720 (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 27828

• Home prices YoY: -20.9%
• Active inventory: 86
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $3,166 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$240 /mo · $2,882/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$665
• Net cashflow: $568

Break-even live

Break-even rent $2,446

Max offer price $299,000

Occupancy floor 77%

Sensitivity live

Price	-10% $738	-5% $653	+0% $568	+5% $484	+10% $399
Rent	-10% $318	-5% $443	+0% $568	+5% $693	+10% $819
Rate	-1.0pp $719	-0.5pp $644	base $568	+0.5pp $491	+1.0pp $412

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,166
Total (2 units)			$3,166

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $299,000 Active 71 DOM
2. 2026-06-18
   days on market $299,000 Active 70 DOM
3. 2026-06-17
   days on market $299,000 Active 69 DOM
4. 2026-06-16
   days on market $299,000 Active 68 DOM
5. 2026-06-15
   days on market $299,000 Active 67 DOM
6. 2026-06-13
   days on market $299,000 Active 64 DOM
7. 2026-06-10
   days on market $299,000 Active 62 DOM
8. 2026-06-09
   days on market $299,000 Active 61 DOM
9. 2026-06-08
   days on market $299,000 Active 60 DOM
10. 2026-06-07
    days on market $299,000 Active 59 DOM
11. 2026-06-05
    days on market $299,000 Active 56 DOM
12. 2026-06-03
    days on market $299,000 Active 55 DOM
13. 2026-06-02
    days on market $299,000 Active 54 DOM
14. 2026-06-01
    days on market $299,000 Active 53 DOM
15. 2026-05-31
    days on market $299,000 Active 52 DOM
16. 2026-05-30
    days on market $299,000 Active 51 DOM
17. 2026-04-09
    listed $299,000 Active
18. 2025-11-19
    historical
19. 2025-07-29
    status Active
20. 2025-07-25
    historical
21. 2024-07-25
    historical
22. 2024-07-25
    listed $325,000 Active
23. 2024-05-09
    listed $325,000 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: $2,882 · $240/mo
• Projected year-2 tax: $2,882 · $240/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,992
• − Mortgage interest: −$16,749
• − Property taxes: −$2,882
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,039
• − Management: −$3,039
• − Depreciation: −$8,698
• Taxable income: $2,090
• Est. tax owed @ 24.0%: −$502
• After-tax cash flow: $6,320/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: Pitt County Schools
• NCES district ID: 3700012
• Math proficiency: 41% ▬ 0.00%
• Reading proficiency: 44% ▲ 2.00%
• Median HH income: $40,631
• Composite: 35.67/100
• National rank: #4877
• State rank: #100 of 178 in NC

Livability — Farmville

• Score: 66/100
• State rank: #272
• US rank: #11852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmville, NC
• Population (ZIP): 8,155

Population outlook (Pitt County) Hauer SSP2

• Today (2025): 194,585 people
• By 2030: 203,756 · +4.7%
• By 2040: 220,807 · +13.5%
• By 2050: 236,614 · +21.6%
• By 2075: 275,940 · +41.8%
• By 2100: 300,058 · +54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 37% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Subsaharan African 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Pitt

• 2024 margin: Lean D (+6.0) · D 52.5% · R 46.5% · Other 1.1%
• 2008→2024 swing: -2.8pp toward R · 2008: 8.8pp · 2024: 6.0pp
• All cycles: 2024: D+6.0 2020: D+9.4 2016: D+7.4 2012: D+6.7 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.30%
• Current HPI: 193.5248
• 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

-8.0% since first listed

7 events — show timeline

• 2026-04-09 Listed $299,000 Hive MLS
• 2025-11-19 Listing Removed — Hive MLS
• 2025-07-29 Relisted — Hive MLS
• 2025-07-25 Listing Removed — Hive MLS
• 2024-07-25 Listed $325,000 Hive MLS
• 2024-07-25 Listing Removed — Hive MLS
• 2024-05-09 Listed $325,000 Hive MLS

Property tax history

+17.1%/yr

Latest (2025): $2,882 · +0.4% YoY. Source: county tax records.