Seneca Plan · Greenville, NC 27834

$399,990

4 bd · 3.5 ba · 3,306 sqft · SingleFamily · 151 Days on market

Good condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Cash flow +0.7/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The Seneca single-family home exudes style and substance. Beyond the foyer, the versatile flex area sets the tone as a library, office or guest suite. Serve dinner in the functional dining room, or the grand kitchen and dining space, which flow effortlessly into the wide open family room. Add a covered porch for outdoor living. Upstairs, 3 spacious bedrooms each include a walk-in closet, and one features its own full bath. Another full bath and a loft provide comfort for friends and guests. Your luxury owner's suite features two walk-in closets and a dual vanity. You'll love The Seneca.

Key facts

• Covered porch
• Grand kitchen
• Flex area

Tags

• FLEX AREA
• FUNCTIONAL DINING ROOM
• GRAND KITCHEN
• COVERED PORCH
• WALK-IN CLOSET
• LUXURY OWNER'S SUITE

🏗️ New construction. The $399,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $537,590.

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $400k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-28k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (48.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (55.0% below list).
• Recommended offer: $180k (55.0% below list) — sets the bar for 1% rule.
• Cap rate 1.2% vs local median 4.0% in Greenville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 77/100 on livability (#30 in NC, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime 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: Falkland Elementary (math 22% / reading 32%, grade F, #1,033 of 1,410 statewide, top 76%, 249 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: Rents rising fast (+5.4%/yr); 584 active listings in the ZIP; 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).
• This rent runs 44% of the median local income ($49k/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 $4k of loan paydown is wiped out by about $16k 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 151 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.

Recommended offer $179,887 (55.0% 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 151 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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?
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: 0.33% ✗
• Cap rate: 1.17%
• Cash-on-cash: -18.29%
• DSCR: 0.19
• GRM: 24.9

CMA / ARV

• ARV (median comp): $537,590
• List price: $399,990
• Delta: -25.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4104 Countrydown Dr	0.31mi	4/3.0	3,303 (-0%)	17mo	$594,000	$180	69
415 Honeysuckle Ct	0.23mi	4/3.0	2,969 (-10%)	5mo	$520,000	$175	66
4205 Whitetail Ct	0.40mi	4/3.5	3,641 (+10%)	2mo	$600,000	$165	63
4101 Countrydown Dr	0.30mi	4/3.0	2,989 (-10%)	12mo	$537,000	$180	57
3909 Nc 43 N	0.27mi	4/4.0	3,099 (-6%)	22mo	$315,000	$102	57
312 Bluebeech Ln	0.36mi	3/2.5 (-1)	2,936 (-11%)	6mo	$578,000	$197	50
3605 Prestwick Pl	0.54mi	3/3.0 (-1)	2,847 (-14%)	5mo	$496,750	$174	40
313 Golf View Dr	0.70mi	4/3.5	3,567 (+8%)	17mo	$790,000	$221	40
336 Golf View Dr	0.63mi	5/4.0 (+1)	3,512 (+6%)	16mo	$665,000	$189	40
115 Golf View Dr	0.71mi	4/3.0	3,148 (-5%)	21mo	$588,000	$187	39
3617 Prestwick Pl	0.58mi	3/3.0 (-1)	2,850 (-14%)	5mo	$487,500	$171	39
4412 Oaksong Dr	0.64mi	3/2.5 (-1)	3,585 (+8%)	20mo	$580,000	$162	30

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 · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -50.9%
• Equity multiple: -0.52×
• Total profit: $-228,671
• Equity at exit: $80,156

10-year hold

• IRR: -87.8%
• Equity multiple: -1.44×
• Total profit: $-367,637
• Equity at exit: $46,481

Cash invested: $150,525 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 18 active · 11 under contract
• Months of supply: 13.5 mo (7%/mo absorbed)
• Median asking: $402,480 ($144/sqft)
• Median days on market: 61 d
• This list price: 44% of active listings are priced below it
• ARV vs active asking: +12.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 27834

• Rents YoY: 5.4%
• Active inventory: 584
• Price-to-rent: 18.5×

Monthly cashflow live

• Estimated rent: $1,799 medium
• Mortgage (P&I): −$2,819
• Tax est. 1.5%: −$672 /mo · $8,064/yr
• Insurance: −$224
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-2,294

Break-even live

Break-even rent $4,703

Max offer price $205,636

Occupancy floor —

Sensitivity live

Price	-10% $-1,923	-5% $-2,108	+0% $-2,294	+5% $-2,480	+10% $-2,666
Rent	-10% $-2,436	-5% $-2,365	+0% $-2,294	+5% $-2,223	+10% $-2,152
Rate	-1.0pp $-2,023	-0.5pp $-2,157	base $-2,294	+0.5pp $-2,433	+1.0pp $-2,575

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: $134,398
• Closing costs: $16,128
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Address: 3920 Market Garden Dr, Greenville NC 27834Listing status: Active
• Financial info: List price $399,990

Exterior

• Parking: 2 parking spaces
• Utilities: Central cooling
• Home design: Plan: SenecaNew construction plan
• Exterior features: Living area approximately 3306

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms1 half bathroom (3.5 total)
• Heating & cooling: Central air
• Interior features: Central air conditioning

Listing history 50 events

1. 2026-11-08
   days on market $399,990 Active 151 DOM
2. 2026-11-07
   days on market $399,990 Active 150 DOM
3. 2026-11-06
   days on market $399,990 Active 149 DOM
4. 2026-11-05
   days on market $399,990 Active 148 DOM
5. 2026-11-04
   days on market $399,990 Active 147 DOM
6. 2026-11-02
   days on market $399,990 Active 145 DOM
7. 2026-11-01
   days on market $399,990 Active 144 DOM
8. 2026-10-31
   days on market $399,990 Active 143 DOM
9. 2026-10-30
   days on market $399,990 Active 142 DOM
10. 2026-10-29
    days on market $399,990 Active 141 DOM
11. 2026-10-28
    days on market $399,990 Active 140 DOM
12. 2026-10-27
    days on market $399,990 Active 139 DOM
13. 2026-10-26
    days on market $399,990 Active 138 DOM
14. 2026-10-25
    days on market $399,990 Active 137 DOM
15. 2026-10-24
    days on market $399,990 Active 136 DOM
16. 2026-10-23
    days on market $399,990 Active 135 DOM
17. 2026-10-22
    days on market $399,990 Active 134 DOM
18. 2026-10-21
    days on market $399,990 Active 133 DOM
19. 2026-10-20
    days on market $399,990 Active 132 DOM
20. 2026-10-19
    days on market $399,990 Active 131 DOM
21. 2026-10-18
    days on market $399,990 Active 130 DOM
22. 2026-10-17
    days on market $399,990 Active 129 DOM
23. 2026-10-16
    days on market $399,990 Active 128 DOM
24. 2026-10-15
    days on market $399,990 Active 127 DOM
25. 2026-10-14
    days on market $399,990 Active 126 DOM
26. 2026-10-13
    days on market $399,990 Active 125 DOM
27. 2026-10-12
    days on market $399,990 Active 124 DOM
28. 2026-10-11
    days on market $399,990 Active 123 DOM
29. 2026-10-10
    days on market $399,990 Active 122 DOM
30. 2026-10-09
    days on market $399,990 Active 121 DOM
31. 2026-10-08
    days on market $399,990 Active 120 DOM
32. 2026-10-07
    days on market $399,990 Active 119 DOM
33. 2026-10-06
    days on market $399,990 Active 118 DOM
34. 2026-10-05
    days on market $399,990 Active 117 DOM
35. 2026-10-04
    days on market $399,990 Active 116 DOM
36. 2026-10-03
    days on market $399,990 Active 115 DOM
37. 2026-10-02
    days on market $399,990 Active 114 DOM
38. 2026-10-01
    days on market $399,990 Active 113 DOM
39. 2026-09-30
    days on market $399,990 Active 112 DOM
40. 2026-09-29
    days on market $399,990 Active 111 DOM
41. 2026-09-28
    days on market $399,990 Active 110 DOM
42. 2026-09-27
    days on market $399,990 Active 109 DOM
43. 2026-09-26
    days on market $399,990 Active 108 DOM
44. 2026-09-25
    days on market $399,990 Active 107 DOM
45. 2026-09-24
    days on market $399,990 Active 106 DOM
46. 2026-09-24
    days on market $399,990 Active 105 DOM
47. 2026-09-22
    days on market $399,990 Active 104 DOM
48. 2026-09-21
    days on market $399,990 Active 103 DOM
49. 2026-09-20
    days on market $399,990 Active 102 DOM
50. 2026-09-18
    days on market $399,990 Active 100 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,586
• − Mortgage interest: −$30,113
• − Property taxes: −$8,064
• − Insurance: −$2,688
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$15,639
• Taxable loss: −$38,372
• Est. tax savings @ 24.0%: +$9,209
• After-tax cash flow: $-18,320/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This Seneca single-family home is in good condition with a modern kitchen and bathrooms. It has a well-maintained exterior and interior, making it a good candidate for a cosmetic renovation to enhance its curb appeal and value.

Value-add opportunities

• Resale Paint the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Resale Replace the front door — A new front door can improve the home's curb appeal and security. ↑
• Rental Clean the gutters — Clean gutters can prevent water damage and improve the home's overall appearance. ↑

F Composite school gradezoned avg 35/100

Zoned Schools

Elementary Falkland Elementary F NC #1,033/1,410 Nat'l #28,475/41,679 Middle Farmville Middle F NC #305/475 Nat'l #8,059/14,009 High Farmville Central High F NC #352/535 Nat'l #6,890/17,239

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

B Composite livability gradescore 77/100

Livability — Greenville

• Score: 77/100
• State rank: #30
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NC
• County: Pitt County · 194,585 people
• City population: 115,121
• Metro: Greenville, NC
• Population (ZIP): 56,347
• Household income: $48,935
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 54% White 33% Hispanic / Latino 8% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 1%

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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: ▼ -187.99%
• Current HPI: 190.6869
• Rent YoY: ▲ 5.44%
• Metro: Greenville, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

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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

Property features AI

Finance

• Other: Address: 3920 Market Garden Dr, Greenville NC 27834Listing status: Active
• Financial info: List price $399,990

Exterior

• Parking: 2 parking spaces
• Utilities: Central cooling
• Home design: Plan: SenecaNew construction plan
• Exterior features: Living area approximately 3306

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms1 half bathroom (3.5 total)
• Heating & cooling: Central air
• Interior features: Central air conditioning