202 Market St · Jacksonville, NC 28546

$130,000

3 bd · 2.0 ba · 1,288 sqft · Manufactured public records · 36 Days on market

Built 1992 10,454 sqft lot

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors and renovators! This manufactured home is bursting with potential and is conveniently located in the heart of Jacksonville within an Opportunity Zone. Featuring 3 bedrooms and 2 bathrooms, this property offers a functional layout including a spacious primary suite with a garden tub and separate shower. Yes, it needs TLC--but with the right vision and updates, this property could truly shine again. Its prime location is what makes this investment opportunity stand out, with close proximity to shopping, dining, schools, medical facilities, and all the conveniences Jacksonville has to offer. The property is being sold as-is, and the seller will make no repairs. Don't miss y

Key facts

• 0.24 acre lot
• Built 1992
• Listed 35 days

Tags

• SPACIOUS PRIMARY SUITE
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING
• CLOSE PROXIMITY TO SCHOOLS

Property features AI

Finance

• Other: Zoning: RMF-LD; Lot dimensions approximately 116 x 91 x 117 x 91 (0.24 acres)

Exterior

• Parking: Unpaved parking
• Utilities: Public water; Public sewer / sewer available
• Home design: Manufactured home; Single-story (one level); Entry level: 1
• Construction: Built with aluminum and vinyl siding over frame construction; Composition roof
• Exterior features: No patio or porch; No fencing; Has a view; Paved road access

Interior

• Kitchen: Range
• Bedrooms: Total of 5 rooms (includes bedrooms and other rooms)
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Crawl space basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.4% in Jacksonville — 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 71/100 on livability (#111 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bell Fork Elementary (math 47% / reading 37%, grade F, #633 of 1,410 statewide, top 48%, 553 students, 71% FRL); Jacksonville Commons Middle (math 39% / reading 47%, grade D-, #191 of 475 statewide, top 41%, 1,011 students, 64% FRL); Northside High (math 67% / reading 55%, grade C+, #202 of 535 statewide, top 39%, 1,097 students, 54% FRL) — zoned schools average 63% FRL vs 37% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.9%/yr); 604 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% 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 $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.62%
• DSCR: 1.56
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.86% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.13×
• Total profit: $4,564
• Equity at exit: $19,383

10-year hold

• IRR: 13.5%
• Equity multiple: 2.11×
• Total profit: $40,586
• Equity at exit: $11,240

Cash invested: $36,400 (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 28546

• Home prices YoY: -19.3%
• Rents YoY: 3.9%
• Active inventory: 604
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,482 high
• Mortgage (P&I): −$682
• Tax from tax record: −$52 /mo · $626/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $383

Break-even live

Break-even rent $998

Max offer price $130,000

Occupancy floor 69%

Sensitivity live

Price	-10% $456	-5% $420	+0% $383	+5% $346	+10% $309
Rent	-10% $266	-5% $324	+0% $383	+5% $441	+10% $500
Rate	-1.0pp $448	-0.5pp $416	base $383	+0.5pp $349	+1.0pp $315

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Sanders St Jacksonville, NC	3.0	2.0	1198	$1,450	$1.21	22d	1	0.51mi
113 N Shore Dr Jacksonville, NC	3.0	1.0	1126	$1,395	$1.24	22d	1	0.82mi
16 White Oak St Jacksonville, NC	3.0	2.0	1150	$1,650	$1.43	22d	1	0.90mi
319 Bracken Pl Jacksonville, NC	2.0	3.0	992	$1,150	$1.16	22d	1	1.09mi
320 Myrtlewood Cir Jacksonville, NC	3.0	1.5	1160	$1,300	$1.12	22d	1	1.17mi
508 Henderson Dr Jacksonville, NC	3.0	1.0	1050	$1,400	$1.33	22d	1	1.30mi
215 Valencia Dr Jacksonville, NC	1.0–2.0	1.0–2.0	842	$1,285	$1.53	22d	1	1.39mi
1025 Kensington Dr Jacksonville, NC	1.0–3.0	1.0–2.0	1150	$1,605	$1.40	14d	8	1.40mi
1025 Kensington Dr Jacksonville, NC	1.0–3.0	1.0–2.0	1150	$1,595	$1.39	22d	1	1.40mi
159 Marlene Dr Jacksonville, NC	2.0	2.0	898	$1,170	$1.30	22d	1	1.43mi
106 Brenda Dr Jacksonville, NC	2.0	1.0	983	$1,300	$1.32	22d	1	1.47mi
190 Valencia Dr Unit 110A Jacksonville, NC	2.0	2.0	1130	$1,425	$1.26	22d	1	1.48mi
3021 Steeple Chase Ct Jacksonville, NC	3.0	2.0	1260	$1,550	$1.23	14d	1	1.49mi
1 S Onsville Pl Jacksonville, NC	2.0	1.5	992	$1,395	$1.41	22d	1	1.50mi

Listing history 17 events

1. 2026-06-19
   days on market $130,000 Active 36 DOM
2. 2026-06-18
   days on market $130,000 Active 35 DOM
3. 2026-06-17
   days on market $130,000 Active 34 DOM
4. 2026-06-16
   days on market $130,000 Active 33 DOM
5. 2026-06-15
   days on market $130,000 Active 32 DOM
6. 2026-06-14
   days on market $130,000 Active 30 DOM
7. 2026-06-13
   days on market $130,000 Active 29 DOM
8. 2026-06-10
   days on market $130,000 Active 27 DOM
9. 2026-06-09
   days on market $130,000 Active 26 DOM
10. 2026-06-09
    days on market $130,000 Active 25 DOM
11. 2026-06-07
    days on market $130,000 Active 24 DOM
12. 2026-06-03
    days on market $130,000 Active 20 DOM
13. 2026-06-02
    days on market $130,000 Active 19 DOM
14. 2026-06-01
    days on market $130,000 Active 18 DOM
15. 2026-05-31
    days on market $130,000 Active 17 DOM
16. 2026-05-30
    days on market $130,000 Active 16 DOM
17. 2026-05-14
    listed $130,000 Active

ⓘ 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: $626 · $52/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$440/yr (+$37/mo · 70.4%)

ⓘ 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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,785
• − Mortgage interest: −$7,282
• − Property taxes: −$626
• − Insurance: −$650
• − Repairs & maintenance: −$1,423
• − Management: −$1,423
• − Depreciation: −$3,782
• Taxable income: $2,600
• Est. tax owed @ 24.0%: −$624
• After-tax cash flow: $3,970/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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Jacksonville

• Score: 71/100
• State rank: #111
• US rank: #6991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jacksonville, NC
• County: Onslow County · 164,453 people
• City population: 96,397
• Metro: Jacksonville, NC
• Population (ZIP): 47,256
• Household income: $63,561
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1830.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 18% Hispanic / Latino 16% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 1% Serbian 1% Slovak 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.75%
• Current HPI: 211.9993
• Rent YoY: ▲ 3.86%
• Metro: Jacksonville, NC
• 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

• 2026-05-14 Listed $130,000 Hive MLS

Property tax history

-2.4%/yr

Latest (2025): $626 · +0.0% YoY. Source: county tax records.