605 Dixon St · Kinston, NC 28501

$69,000

2 bd · 1.0 ba · 872 sqft · SingleFamily public records · 17 Days on market

Built 1952 5,663 sqft lot Est $78k · 11% under

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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 +22.3/30.0
• ARV discount +12.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a nice investment property in the heart of Kinston that comes with a reliable tenant paying $600 month-to-month. The roof was replaced in the last 2-3 years. The property is being SOLD ''As is''.

Key facts

• Investment property
• Roof replaced
• 5,663 sq ft lot

Tags

• INVESTMENT PROPERTY
• ROOF REPLACED

Property features AI

Exterior

• Parking: Attached 1-car garage; On-site parking; 1 total parking space
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single-family residence; One story; Entry level on main floor; Facing direction not specified
• Construction: Asbestos and frame construction; Shingle roof; Built year not specified
• Exterior features: Porch; Has a view; No fencing; Road frontage on city street and state road

Interior

• Kitchen: Electric oven; Electric range; Refrigerator; Dishwasher not listed
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall/window cooling unit(s)
• Interior features: Ceiling fan(s); Crawl space basement
• Laundry & utility: Washer; Dryer; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($717 rent vs $69k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.8% in Kinston — 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 55/100 on livability (#640 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Rochelle Middle (math 9% / reading 20%, grade F, #462 of 475 statewide, top 98%, 466 students, 98% FRL); Kinston High (math 22% / reading 37%, grade F, #459 of 535 statewide, top 87%, 713 students, 100% FRL) — zoned schools average 99% FRL vs 65% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 95 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lenoir County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $67,965 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.04% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.05%
• DSCR: 1.31
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $77,608
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
817 Williams St	0.20mi	2/1.0	922 (+6%)	9mo	$66,500	$72	73
2105 Marsha Ave	0.29mi	2/1.0	775 (-11%)	1mo	$73,007	$94	67
500 Jackson Ln	0.13mi	3/1.0 (+1)	954 (+9%)	8mo	$142,000	$149	67
819 Dixon St	0.20mi	3/1.0 (+1)	925 (+6%)	18mo	$70,000	$76	61
502 Jackson Ln	0.12mi	3/1.0 (+1)	948 (+9%)	22mo	$58,000	$61	56
504 Jackson Ln	0.11mi	3/1.0 (+1)	983 (+13%)	15mo	$65,000	$66	56
1403 Hyman Ave	0.21mi	3/1.0 (+1)	1,000 (+15%)	17mo	$36,000	$36	46
613 Larkspur Rd	0.62mi	3/1.0 (+1)	925 (+6%)	17mo	$82,500	$89	41
1401 Mcadoo St	0.41mi	2/1.5	980 (+12%)	23mo	$90,000	$92	39
800 Candlewood Dr	0.43mi	3/1.0 (+1)	975 (+12%)	22mo	$100,500	$103	37

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-3,960
• Equity at exit: $10,288

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $5,838
• Equity at exit: $5,966

Cash invested: $19,320 (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 28501

• Home prices YoY: -18.9%
• Active inventory: 95
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $717 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$62 /mo · $747/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$151
• Net cashflow: $113

Break-even live

Break-even rent $573

Max offer price $69,000

Occupancy floor 79%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1313 McAdoo St Kinston, NC	1.0–3.0	1.0–2.0	644	$688	$1.07	13d	6	0.50mi
4015 N Herritage St Kinston, NC	1.0–3.0	1.0–2.0	964	$764	$0.79	13d	6	0.82mi
705 Harvey St Kinston, NC	2.0	1.0	896	$700	$0.78	21d	1	1.08mi
503 N Queen St Kinston, NC	1.0–2.0	2.0	759	$723	$0.95	13d	8	1.23mi

Listing history 14 events

1. 2026-06-19
   days on market $69,000 Active 17 DOM
2. 2026-06-18
   price $69,000 Active 16 DOM
3. 2026-06-18
   days on market $74,000 Active 16 DOM
4. 2026-06-17
   days on market $74,000 Active 15 DOM
5. 2026-06-16
   days on market $74,000 Active 14 DOM
6. 2026-06-15
   days on market $74,000 Active 13 DOM
7. 2026-06-14
   days on market $74,000 Active 11 DOM
8. 2026-06-12
   days on market $74,000 Active 10 DOM
9. 2026-06-09
   days on market $74,000 Active 7 DOM
10. 2026-06-08
    days on market $74,000 Active 6 DOM
11. 2026-06-07
    days on market $74,000 Active 5 DOM
12. 2026-06-07
    days on market $74,000 Active 4 DOM
13. 2026-06-03
    remarks 203-char remark
14. 2026-06-03
    listed $74,000 Active 1 DOM

ⓘ 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: $747 · $62/mo
• Projected year-2 tax: $747 · $62/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 2/10 Low
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,602
• − Mortgage interest: −$3,865
• − Property taxes: −$747
• − Insurance: −$345
• − Repairs & maintenance: −$688
• − Management: −$688
• − Depreciation: −$2,007
• Taxable income: $261
• Est. tax owed @ 24.0%: −$63
• After-tax cash flow: $1,299/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — Kinston

• Score: 55/100
• State rank: #640
• US rank: #23267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kinston, NC
• City population: 20,407
• Population (ZIP): 18,112

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.17%
• Current HPI: 193.3213
• 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

1 event — show timeline

• 2026-06-02 Listed $74,000 Hive MLS

Property tax history

+8.0%/yr

Latest (2025): $747 · +245.0% YoY. Source: county tax records.