6518 Fairway Dr · Grifton, NC 28530

$192,000

4 bd · 2.0 ba · 1,550 sqft · SingleFamily public records · 44 Days on market

Built 1968 0.35 ac lot Est $282k · 32% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• Schools +3.6/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 4-bedroom/2-bathroom brick ranch situated on a corner lot outside city limits with no HOA! Features include an attached carport and detached one-car garage, offering plenty of storage and parking space. This home offers great potential and is ready for your personal touch and updates. Property has pet odor and will need some TLC, making it a great opportunity for investors or buyers looking to customize a home to their liking. Don't delay, schedule your showing today!

Key facts

• 0.35 acre lot
• Garage
• Built 1968

Property features AI

Finance

• Other: Zoning: R14; Subdivision: Country Club Hills
• HOA & community: No association amenities

Exterior

• Parking: 1 covered garage space; 2 carport spaces; Concrete on-site parking
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Brick and frame construction; Shingle/composition roof
• Exterior features: Corner lot; Paved road access; No patio or porch; No fencing; Has a view

Interior

• Kitchen: Range; Dishwasher
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard electric heating; Central air conditioning
• Interior features: Ceiling fan(s); Accessible full bathroom; Crawl space basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $33 ($399/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 $158k (18.0% below list).
• Recommended offer: $158k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.5% in Grifton — 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 62/100 on livability (#444 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F, employment 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: Grifton (math 23% / reading 30%, grade F, #1,073 of 1,410 statewide, top 77%, 391 students, 99% FRL); Ayden-Grifton High (math 32% / reading 42%, grade F, #414 of 535 statewide, top 79%, 659 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: 48 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $6k 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 44 days — a 3% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $157,500 (18.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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. 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?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $282,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6433 Country Club Dr	0.14mi	3/2.0 (-1)	1,624 (+5%)	1mo	$235,500	$145	80
6218 Brassie Dr	0.50mi	3/1.5 (-1)	1,568 (+1%)	0mo	$195,000	$124	67
6604 Parrot Ln	0.51mi	3/2.0 (-1)	1,452 (-6%)	4mo	$279,900	$193	58
6362 Fairway Dr	0.34mi	3/2.0 (-1)	1,757 (+13%)	4mo	$185,000	$105	54
6602 Parrot Ln	0.50mi	3/2.0 (-1)	1,373 (-11%)	1mo	$249,900	$182	52
6605 Pollock Ct	0.45mi	3/2.0 (-1)	1,373 (-11%)	4mo	$250,000	$182	52
6343 Fairway Dr	0.41mi	3/2.0 (-1)	1,692 (+9%)	12mo	$221,000	$131	51
685 Saint Joseph St	0.58mi	4/2.5	1,723 (+11%)	2mo	$228,500	$133	50
6325 Niblick Rd	0.45mi	3/2.0 (-1)	1,693 (+9%)	12mo	$264,000	$156	48
689 Pope St	0.53mi	3/2.0 (-1)	1,373 (-11%)	4mo	$249,900	$182	48
6710 Taryn Pl	0.54mi	3/2.0 (-1)	1,381 (-11%)	7mo	$264,900	$192	46
755 Wall St	0.60mi	3/2.0 (-1)	1,373 (-11%)	3mo	$249,900	$182	46

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: -15.1%
• Equity multiple: 0.46×
• Total profit: $-29,044
• Equity at exit: $28,628

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-22,760
• Equity at exit: $16,601

Cash invested: $53,760 (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 28530

• Home prices YoY: -7.1%
• Active inventory: 48
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,575 medium
• Mortgage (P&I): −$1,007
• Tax from tax record: −$124 /mo · $1,490/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $33

Break-even live

Break-even rent $1,533

Max offer price $192,000

Occupancy floor 93%

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: $48,000
• Closing costs: $5,760
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 Charles St Grifton, NC	3.0	2.0	1310	$1,575	$1.20	13d	1	0.73mi

Listing history 19 events

1. 2026-06-19
   days on market $192,000 Active 44 DOM
2. 2026-06-18
   days on market $192,000 Active 43 DOM
3. 2026-06-17
   days on market $192,000 Active 42 DOM
4. 2026-06-16
   days on market $192,000 Active 41 DOM
5. 2026-06-15
   days on market $192,000 Active 40 DOM
6. 2026-06-13
   days on market $192,000 Active 37 DOM
7. 2026-06-10
   days on market $192,000 Active 35 DOM
8. 2026-06-09
   pricedays on market $192,000 Active 34 DOM
9. 2026-06-08
   days on market $201,500 Active 33 DOM
10. 2026-06-07
    days on market $201,500 Active 32 DOM
11. 2026-06-05
    days on market $201,500 Active 29 DOM
12. 2026-06-03
    days on market $201,500 Active 28 DOM
13. 2026-06-02
    days on market $201,500 Active 27 DOM
14. 2026-06-01
    days on market $201,500 Active 26 DOM
15. 2026-05-31
    days on market $201,500 Active 25 DOM
16. 2026-05-30
    days on market $201,500 Active 24 DOM
17. 2026-05-06
    listed $201,500 Active
18. 2024-08-16
    soldstatus $204,000
19. 1988-06-01
    soldstatus $55,000

ⓘ 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: $1,490 · $124/mo
• Projected year-2 tax: $1,574 · $131/mo
• Expected delta: +$84/yr (+$7/mo · 5.7%)

ⓘ 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 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,900
• − Mortgage interest: −$10,755
• − Property taxes: −$1,490
• − Insurance: −$960
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$5,585
• Taxable loss: −$2,914
• Est. tax savings @ 24.0%: +$699
• After-tax cash flow: $1,098/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 — Grifton

• Score: 62/100
• State rank: #444
• US rank: #16371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grifton, NC
• Population (ZIP): 7,055

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 0.64)
• Race & ethnicity: White 48% Black 33% Hispanic / Latino 16% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 12% Vietnamese 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: ▼ -15.30%
• Current HPI: 201.1297
• 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

+266.4% since first listed

3 events — show timeline

• 2026-05-06 Listed $201,500 Hive MLS
• 2024-08-16 Sold (Public Records) $204,000 Public Records
• 1988-06-01 Sold (Public Records) $55,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $1,490 · +0.8% YoY. Source: county tax records.