712 W Grubb St · Hertford, NC 27944

$114,000

4 bd · 1.0 ba · 1,473 sqft · Other public records · 34 Days on market

Built 1935 8,712 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home is nice with a spacious living room, kitchen with appliances, a built in table with benches, pantry, dining room, central heat and air on the first floor, window units on the second floor. Detached garage and attached carport on the side of the cute home. A great home for a small family or a couple. It is waiting for the new homeowners!! The land and building next door could be purchased also.

Key facts

• Strategic location
• Corner lot
• Detached garage

Tags

• CORNER LOT
• TRADITIONAL HARDWOOD FLOORING
• DETACHED GARAGE
• STRATEGIC LOCATION
• MINUTES FROM PERQUIMANS RIVER
• MINUTES FROM ALBEMARLE SOUND

Property features AI

Finance

• Other: Property type: Residential, Single Family Residence
• HOA & community: No association amenities

Exterior

• Parking: One covered garage space; One total parking space
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single-family residence; One and one-half levels (2 stories); Entry level: 1; Residential zoning
• Construction: Wood siding/frame construction; Composition roof; Crawl space/no basement
• Exterior features: Covered, screened front porch; Has a view

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Living space includes multiple rooms (total 6 rooms)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning; Heat pump cooling
• Interior features: Ceiling fans
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $114k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#570 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Perquimans County Schools (rural): math 44% / reading 48% proficiency, ranked #83 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perquimans Central (391 students, 65% FRL); Perquimans County Middle (math 39% / reading 48%, grade D, #182 of 475 statewide, top 40%, 366 students, 59% FRL); Perquimans County High (math 47% / reading 42%, grade F, #352 of 535 statewide, top 68%, 518 students, 59% FRL).
• Market conditions: 339 active listings in the ZIP; 46 units permitted in Perquimans County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($788 loan paydown + $11k appreciation (10.0% local appreciation)).
• Perquimans County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $110,580 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.59% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.68%
• DSCR: 2.10
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.9%
• Equity multiple: 4.26×
• Total profit: $103,908
• Equity at exit: $102,700

10-year hold

• IRR: 37.0%
• Equity multiple: 9.56×
• Total profit: $273,153
• Equity at exit: $221,477

Cash invested: $31,920 (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 27944

• Home prices YoY: 9.5%
• Active inventory: 339
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,807 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$126 /mo · $1,512/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $656

Break-even live

Break-even rent $976

Max offer price $114,000

Occupancy floor 59%

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-22
   price $114,000
2. 2026-05-16
   price $124,000
3. 2026-05-07
   status Active
4. 2026-04-25
   historical Active Under Contract
5. 2026-04-23
   listed $129,000 Active
6. 2020-03-11
   soldstatus $80,000 409-char remark

   Show marketing remark (409 chars)

   This home is nice with a spacious living room, kitchen with appliances, a built in table with benches, pantry, dining room, central heat and air on the first floor, window units on the second floor. Detached garage and attached carport on the side of the cute home. A great home for a small family or a couple. It is waiting for the new homeowners!! The land and building next door could be purchased also.

7. 2020-03-11
   soldstatus $80,000

   Show marketing remark (409 chars)

   This home is nice with a spacious living room, kitchen with appliances, a built in table with benches, pantry, dining room, central heat and air on the first floor, window units on the second floor. Detached garage and attached carport on the side of the cute home. A great home for a small family or a couple. It is waiting for the new homeowners!! The land and building next door could be purchased also.

8. 2019-07-02
   listed $89,900 409-char remark

   Show marketing remark (409 chars)

   This home is nice with a spacious living room, kitchen with appliances, a built in table with benches, pantry, dining room, central heat and air on the first floor, window units on the second floor. Detached garage and attached carport on the side of the cute home. A great home for a small family or a couple. It is waiting for the new homeowners!! The land and building next door could be purchased also.

9. 2016-12-02
   soldstatus $77,000

ⓘ 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: $1,512 · $126/mo
• Projected year-2 tax: $1,512 · $126/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,686
• − Mortgage interest: −$6,386
• − Property taxes: −$1,512
• − Insurance: −$570
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$3,316
• Taxable income: $6,432
• Est. tax owed @ 24.0%: −$1,544
• After-tax cash flow: $6,333/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: Perquimans County Schools
• NCES district ID: 3703600
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 48% ▲ 7.00%
• Median HH income: $42,593
• Composite: 38.75/100
• National rank: #4124
• State rank: #83 of 178 in NC

Livability — Hertford

• Score: 58/100
• State rank: #570
• US rank: #21148

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hertford, NC
• City population: 40,869
• Population (ZIP): 11,255

Population outlook (Perquimans County) Hauer SSP2

• Today (2025): 13,018 people
• By 2030: 12,716 · -2.3%
• By 2040: 11,895 · -8.6%
• By 2050: 10,981 · -15.6%
• By 2075: 8,931 · -31.4%
• By 2100: 7,101 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 20% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada, China, Dominican Republic
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Perquimans

• 2024 margin: Solid R (+39.4) · D 29.7% · R 69.1% · Other 1.2%
• 2008→2024 swing: -25.4pp toward R · 2008: -13.9pp · 2024: -39.4pp
• All cycles: 2024: R+39.4 2020: R+32.2 2016: R+28.1 2012: R+16.1 2008: R+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.77%
• Current HPI: 261.91
• 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

+48.1% since first listed

9 events — show timeline

• 2026-05-22 Price Changed $114,000 Hive MLS
• 2026-05-16 Price Changed $124,000 Hive MLS
• 2026-05-07 Relisted — Hive MLS
• 2026-04-25 Contingent — Hive MLS
• 2026-04-23 Listed $129,000 Hive MLS
• 2020-03-11 Sold (Public Records) $80,000 Public Records
• 2020-03-11 Sold (MLS) $80,000 Hive MLS
• 2019-07-02 Listed $89,900 Hive MLS
• 2016-12-02 Sold (Public Records) $77,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,512 · +0.0% YoY. Source: county tax records.