207 E Peterson St · Edenton, NC 27932

$50,000

3 bd · 2.0 ba · 924 sqft · SingleFamily public records · 69 Days on market

Built 1930 0.25 ac 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
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity! Tear-down & rebuild, or full renovation/fixer-upper! Near Highway 17. Located within the city limits of Edenton, just outside of the Historic District, and right next to James A. Holmes High School, where you can see the football stadium from the front porch. Within minutes, you are at the waterfront area in downtown Edenton, where you will find shops, restaurants, and entertainment. Home strictly being sold as-is, where-is. Seller to make no repairs. Buyer due diligence. Buyer is responsible for any & all inspections & research. Buyers use caution when viewing/entering the property. Utilities not turned on. Buyer is responsible for utilities for inspections, if desired. Buyer to verify all information pertaining to this property. Seller is a licensed real estate agent and has never visited the property.

Key facts

• Full renovation
• Near highway 17
• Historic district

Tags

• FULL RENOVATION
• NEAR HIGHWAY 17
• CITY LIMITS OF EDENTON
• HISTORIC DISTRICT
• VIEW OF FOOTBALL STADIUM
• MINUTES TO WATERFRONT AREA

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Off-street parking; Driveway spaces; Street parking; 2 parking spaces
• Utilities: Public water (unspecified); Public sewer (unspecified); Other type water heater
• Home design: Detached property; Single-story
• Construction: Crawl foundation
• Exterior features: Wood siding; Approximately 0.25 acre lot

Interior

• Kitchen: Range; Electric range; Refrigerator
• Bedrooms: No ensuite bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: Bedroom and full bathroom on the first floor; 5 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.8% vs local median 1.7% in Edenton — 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 (#471 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, amenities F.
• Edenton-Chowan Schools (rural): math 37% / reading 42% proficiency, ranked #118 of 178 in NC (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: D F Walker Elementary (math 42% / reading 41%, grade F, #673 of 1,410 statewide, top 48%, 388 students, 72% FRL); Chowan Middle (math 29% / reading 42%, grade F, #279 of 475 statewide, top 60%, 428 students, 68% FRL); John A Holmes High (math 57% / reading 47%, grade D+, #292 of 535 statewide, top 56%, 592 students, 57% FRL).
• Market conditions: 243 active listings in the ZIP; 48 units permitted in Chowan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Chowan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $50k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% 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 $47,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1930 — 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 D 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 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: 2.15% ✓
• Cap rate: 18.84%
• Cash-on-cash: 44.81%
• DSCR: 2.99
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $140,448
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 Jackson St	0.16mi	3/1.0	880 (-5%)	8mo	$140,000	$159	74
205 W Gale St	0.58mi	3/1.5	933 (+1%)	2mo	$206,000	$221	68
104 W Peterson St	0.32mi	2/1.5 (-1)	872 (-6%)	1mo	$60,000	$69	67
121 W Hicks St	0.41mi	3/1.0	924 (0%)	17mo	$95,600	$103	63
403 N Broad St	0.33mi	3/1.5	1,000 (+8%)	9mo	$235,000	$235	62
217 Hawthorne Rd	0.60mi	3/1.0	957 (+4%)	5mo	$209,900	$219	58
914 Johnston St	0.41mi	2/1.0 (-1)	851 (-8%)	2mo	$125,000	$147	57
118 W Freemason St	0.38mi	2/1.0 (-1)	1,000 (+8%)	8mo	$45,000	$45	53
104 Hawthorne Rd	0.52mi	2/2.0 (-1)	1,027 (+11%)	10mo	$156,000	$152	44
406 Elliott St	0.54mi	2/1.0 (-1)	1,043 (+13%)	1mo	$335,000	$321	43
1208 Pruden St	0.74mi	3/2.0	1,020 (+10%)	24mo	$99,000	$97	28

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: 41.9%
• Equity multiple: 2.80×
• Total profit: $25,197
• Equity at exit: $7,455

10-year hold

• IRR: 48.0%
• Equity multiple: 5.63×
• Total profit: $64,828
• Equity at exit: $4,323

Cash invested: $14,000 (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 27932

• Home prices YoY: -32.1%
• Active inventory: 243
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,073 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$42 /mo · $498/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $523

Break-even live

Break-even rent $411

Max offer price $50,000

Occupancy floor 46%

Sensitivity live

Price	-10% $551	-5% $537	+0% $523	+5% $509	+10% $494
Rent	-10% $438	-5% $480	+0% $523	+5% $565	+10% $608
Rate	-1.0pp $548	-0.5pp $535	base $523	+0.5pp $510	+1.0pp $497

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-17
   days on market $50,000 Active 69 DOM
2. 2026-06-16
   days on market $50,000 Active 68 DOM
3. 2026-06-15
   days on market $50,000 Active 67 DOM
4. 2026-06-13
   days on market $50,000 Active 65 DOM
5. 2026-06-12
   days on market $50,000 Active 64 DOM
6. 2026-06-09
   days on market $50,000 Active 61 DOM
7. 2026-06-08
   days on market $50,000 Active 60 DOM
8. 2026-06-07
   days on market $50,000 Active 59 DOM
9. 2026-06-07
   days on market $50,000 Active 58 DOM
10. 2026-06-04
    days on market $50,000 Active 55 DOM
11. 2026-06-02
    days on market $50,000 Active 54 DOM
12. 2026-06-01
    days on market $50,000 Active 53 DOM
13. 2026-05-31
    days on market $50,000 Active 52 DOM
14. 2026-05-22
    price $50,000

    Show marketing remark (858 chars)

    Investor opportunity! Tear-down & rebuild, or full renovation/fixer-upper! Near Highway 17. Located within the city limits of Edenton, just outside of the Historic District, and right next to James A. Holmes High School, where you can see the football stadium from the front porch. Within minutes, you are at the waterfront area in downtown Edenton, where you will find shops, restaurants, and entertainment. Home strictly being sold as-is, where-is. Seller to make no repairs. Buyer due diligence. Buyer is responsible for any & all inspections & research. Buyers use caution when viewing/entering the property. Utilities not turned on. Buyer is responsible for utilities for inspections, if desired. Buyer to verify all information pertaining to this property. Seller is a licensed real estate agent and has never visited the property.

15. 2026-05-22
    price $50,000 858-char remark

    Show marketing remark (858 chars)

    Investor opportunity! Tear-down & rebuild, or full renovation/fixer-upper! Near Highway 17. Located within the city limits of Edenton, just outside of the Historic District, and right next to James A. Holmes High School, where you can see the football stadium from the front porch. Within minutes, you are at the waterfront area in downtown Edenton, where you will find shops, restaurants, and entertainment. Home strictly being sold as-is, where-is. Seller to make no repairs. Buyer due diligence. Buyer is responsible for any & all inspections & research. Buyers use caution when viewing/entering the property. Utilities not turned on. Buyer is responsible for utilities for inspections, if desired. Buyer to verify all information pertaining to this property. Seller is a licensed real estate agent and has never visited the property.

16. 2026-05-04
    price $60,000

    Show marketing remark (858 chars)

    Investor opportunity! Tear-down & rebuild, or full renovation/fixer-upper! Near Highway 17. Located within the city limits of Edenton, just outside of the Historic District, and right next to James A. Holmes High School, where you can see the football stadium from the front porch. Within minutes, you are at the waterfront area in downtown Edenton, where you will find shops, restaurants, and entertainment. Home strictly being sold as-is, where-is. Seller to make no repairs. Buyer due diligence. Buyer is responsible for any & all inspections & research. Buyers use caution when viewing/entering the property. Utilities not turned on. Buyer is responsible for utilities for inspections, if desired. Buyer to verify all information pertaining to this property. Seller is a licensed real estate agent and has never visited the property.

17. 2026-05-04
    price $60,000 858-char remark

    Show marketing remark (858 chars)

    Investor opportunity! Tear-down & rebuild, or full renovation/fixer-upper! Near Highway 17. Located within the city limits of Edenton, just outside of the Historic District, and right next to James A. Holmes High School, where you can see the football stadium from the front porch. Within minutes, you are at the waterfront area in downtown Edenton, where you will find shops, restaurants, and entertainment. Home strictly being sold as-is, where-is. Seller to make no repairs. Buyer due diligence. Buyer is responsible for any & all inspections & research. Buyers use caution when viewing/entering the property. Utilities not turned on. Buyer is responsible for utilities for inspections, if desired. Buyer to verify all information pertaining to this property. Seller is a licensed real estate agent and has never visited the property.

18. 2026-04-13
    listed $65,000 Active 855-char remark

    Show marketing remark (855 chars)

    Investor opportunity! Tear-down & rebuild, or full renovation/fixer-upper! Near Highway 17. Located within the city limits of Edenton, just outside of the Historic District, and right next to James A. Holmes High School, where you can see the football stadium from the front porch. Within minutes, you are at the waterfront area in downtown Edenton, where you will find shops, restaurants, and entertainment. Home strictly being sold as-is, where-is. Seller to make no repairs. Buyer due diligence. Buyer is responsible for any & all inspections & research. Buyers use caution when viewing/entering the property. Utilities not turned on. Buyer is responsible for utilities for inspections, if desired. Buyer to verify all information pertaining to this property. Seller is a licensed real estate agent and has never visited the property.

19. 2026-04-09
    listed $65,000 Active 858-char remark

    Show marketing remark (858 chars)

    Investor opportunity! Tear-down & rebuild, or full renovation/fixer-upper! Near Highway 17. Located within the city limits of Edenton, just outside of the Historic District, and right next to James A. Holmes High School, where you can see the football stadium from the front porch. Within minutes, you are at the waterfront area in downtown Edenton, where you will find shops, restaurants, and entertainment. Home strictly being sold as-is, where-is. Seller to make no repairs. Buyer due diligence. Buyer is responsible for any & all inspections & research. Buyers use caution when viewing/entering the property. Utilities not turned on. Buyer is responsible for utilities for inspections, if desired. Buyer to verify all information pertaining to this property. Seller is a licensed real estate agent and has never visited the property.

20. 2026-04-08
    listed $65,000 Active
21. 2001-12-31
    soldstatus $30,000

ⓘ 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: $498 · $42/mo
• Projected year-2 tax: $498 · $42/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 ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $12,871
• − Mortgage interest: −$2,801
• − Property taxes: −$498
• − Insurance: −$250
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$1,455
• Taxable income: $5,808
• Est. tax owed @ 24.0%: −$1,394
• After-tax cash flow: $4,879/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: Edenton-Chowan Schools
• NCES district ID: 3700840
• Math proficiency: 37% ▼ -2.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $38,516
• Composite: 32.97/100
• National rank: #5586
• State rank: #118 of 178 in NC

Livability — Edenton

• Score: 62/100
• State rank: #471
• US rank: #17166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edenton, NC
• Population (ZIP): 12,784

Population outlook (Chowan County) Hauer SSP2

• Today (2025): 13,627 people
• By 2030: 13,099 · -3.9%
• By 2040: 11,899 · -12.7%
• By 2050: 10,858 · -20.3%
• By 2075: 9,010 · -33.9%
• By 2100: 7,463 · -45.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Black 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Italian 2% Romanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Chowan

• 2024 margin: Strong R (+22.5) · D 38.4% · R 60.9%
• 2008→2024 swing: -21.3pp toward R · 2008: -1.1pp · 2024: -22.5pp
• All cycles: 2024: R+22.5 2020: R+15.7 2016: R+14.3 2012: R+4.9 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.59%
• Current HPI: 172.7448
• 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

+66.7% since first listed

8 events — show timeline

• 2026-05-22 Price Changed $50,000 REINMLS
• 2026-05-22 Price Changed $50,000 Hive MLS
• 2026-05-04 Price Changed $60,000 REINMLS
• 2026-05-04 Price Changed $60,000 Hive MLS
• 2026-04-13 Listed $65,000 OBMLS
• 2026-04-09 Listed $65,000 Hive MLS
• 2026-04-08 Listed $65,000 REINMLS
• 2001-12-31 Sold (Public Records) $30,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $498 · +5.0% YoY. Source: county tax records.