3599 North Main St · Farmville, NC 27828

$192,400

3 bd · 1.0 ba · 1,598 sqft · SingleFamily public records · 18 Days on market

Built 1935 10,454 sqft lot Est $241k · 20% under

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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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.7/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

adorable 3 bedroom 1 bath home walking distance to everything downtown Farmville has to offer. Spacious kitchen with farmhouse sink, stainless appliances. Large backyard. This one won't last long

Key facts

• Arched doorways
• Farmhouse sink
• Fenced-in backyard

Tags

• ORIGINAL HARDWOOD FLOORS
• ARCHED DOORWAYS
• FARMHOUSE SINK
• STAINLESS STEEL APPLIANCES
• SECRET PASSAGE
• FENCED-IN BACKYARD

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Sewer connected; Water connected
• Home design: Single-family residence; Two-story home; Entry level is 1; Residential zoning
• Construction: Built with aluminum siding, brick, and frame construction
• Exterior features: Front porch; Rear porch; Back yard fencing; Wood fence; Has a view; Shingle roof; Rectangular lot; Road frontage on city street and state road; Lot dimensions approximately 53 x 192 x 55 x 192

Interior

• Kitchen: Gas oven; Gas water heater
• Bedrooms: Master located downstairs
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Master bedroom on the main level; Ceiling fans; Window coverings; Unfurnished; Crawl space basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $192k).
• Recommended offer: $190k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.0% in Farmville — 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 66/100 on livability (#272 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, employment C-, crime 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: H B Sugg Elementary (401 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: 86 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $54k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $163k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $189,514 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — 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: 1.17% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.61%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $241,298
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3209 North Waverly St	0.23mi	3/2.0	1,600 (+0%)	4mo	$225,000	$141	82
3222 North Contentnea St	0.10mi	4/2.0 (+1)	1,520 (-5%)	5mo	$127,500	$84	74
4266 Pinehurst Ct	0.40mi	3/2.0	1,617 (+1%)	4mo	$338,126	$209	72
4252 Pinehurst Ct	0.35mi	3/2.0	1,565 (-2%)	5mo	$338,126	$216	72
3242 N Contentnea St	0.07mi	3/1.0	1,393 (-13%)	8mo	$210,000	$151	69
185 Lang Farm Rd	0.09mi	3/2.5	1,404 (-12%)	3mo	$214,991	$153	67
4272 Pinehurst Ct	0.41mi	3/2.0	1,615 (+1%)	10mo	$300,000	$186	67
3530 S Pitt St	0.69mi	3/2.0	1,650 (+3%)	2mo	$165,000	$100	56
4146 East Pine St	0.51mi	3/2.0	1,430 (-10%)	1mo	$140,000	$98	54
4205 W West Prince Rd	0.75mi	3/2.0	1,568 (-2%)	6mo	$227,000	$145	53
3470 East Wilson St	0.58mi	3/2.0	1,737 (+9%)	6mo	$155,000	$89	50
3272 School View Dr	0.73mi	4/2.5 (+1)	1,744 (+9%)	7mo	$319,900	$183	34

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,995
• Equity at exit: $28,687

10-year hold

• IRR: 10.6%
• Equity multiple: 1.82×
• Total profit: $44,420
• Equity at exit: $16,635

Cash invested: $53,872 (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 27828

• Home prices YoY: -20.9%
• Active inventory: 86
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$1,009
• Tax from tax record: −$167 /mo · $2,008/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $521

Break-even live

Break-even rent $1,591

Max offer price $192,400

Occupancy floor 72%

Sensitivity live

Price	-10% $630	-5% $575	+0% $521	+5% $467	+10% $412
Rent	-10% $343	-5% $432	+0% $521	+5% $610	+10% $699
Rate	-1.0pp $618	-0.5pp $570	base $521	+0.5pp $471	+1.0pp $420

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: $48,100
• Closing costs: $5,772
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4022 East Horne Ave Farmville, NC	3.0	2.0	1700	$2,250	$1.32	21d	1	0.33mi

Listing history 21 events

1. 2026-06-07
   statusdays on market $192,400 Pending 18 DOM
2. 2026-06-05
   pricedays on market $192,400 Active 16 DOM
3. 2026-06-03
   days on market $199,900 Active 15 DOM
4. 2026-06-02
   days on market $199,900 Active 14 DOM
5. 2026-06-01
   days on market $199,900 Active 13 DOM
6. 2026-05-31
   days on market $199,900 Active 12 DOM
7. 2026-05-30
   days on market $199,900 Active 11 DOM
8. 2026-05-19
   listed $199,900 Active
9. 2021-07-29
   soldstatus $163,000 195-char remark

   Show marketing remark (195 chars)

   adorable 3 bedroom 1 bath home walking distance to everything downtown Farmville has to offer. Spacious kitchen with farmhouse sink, stainless appliances. Large backyard. This one won't last long

10. 2021-07-27
    soldstatus $163,000
11. 2021-05-07
    listed $169,900 195-char remark

    Show marketing remark (195 chars)

    adorable 3 bedroom 1 bath home walking distance to everything downtown Farmville has to offer. Spacious kitchen with farmhouse sink, stainless appliances. Large backyard. This one won't last long

12. 2020-12-14
    soldstatus $119,900 483-char remark

    Show marketing remark (483 chars)

    Adorable is the word that comes to mind, this 1935 bungalow walking distance to beautiful downtown Farmville. This home has a formal dining room and a large kitchen with original farmhouse sink, stainless appliances including gas stove. 2 bedrooms on the first floor and a large bonus/3rd bedroom upstairs. Look all you want and you will never find this kinda charm in a new home. Also sits on a large lot with a spacious backyard that is fenced in. A patio for outside entertaining.

13. 2020-10-24
    listed $119,900 483-char remark

    Show marketing remark (483 chars)

    Adorable is the word that comes to mind, this 1935 bungalow walking distance to beautiful downtown Farmville. This home has a formal dining room and a large kitchen with original farmhouse sink, stainless appliances including gas stove. 2 bedrooms on the first floor and a large bonus/3rd bedroom upstairs. Look all you want and you will never find this kinda charm in a new home. Also sits on a large lot with a spacious backyard that is fenced in. A patio for outside entertaining.

14. 2018-12-10
    soldstatus $105,000
15. 2018-12-10
    soldstatus $105,000
16. 2018-08-29
    listed $109,900
17. 2018-07-18
    historical
18. 2018-02-20
    listed $99,000
19. 2017-12-31
    historical
20. 2017-04-27
    listed $99,900
21. 2007-09-01
    soldstatus $90,000

ⓘ 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: $2,008 · $167/mo
• Projected year-2 tax: $2,008 · $167/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 3/10 Moderate
• 🌡 Heat 7/10 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,000
• − Mortgage interest: −$10,777
• − Property taxes: −$2,008
• − Insurance: −$962
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$5,597
• Taxable income: $3,335
• Est. tax owed @ 24.0%: −$800
• After-tax cash flow: $5,452/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 — Farmville

• Score: 66/100
• State rank: #272
• US rank: #11852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmville, NC
• Population (ZIP): 8,155

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 0.60)
• Race & ethnicity: White 50% Black 37% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Subsaharan African 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 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: ▼ -51.30%
• Current HPI: 193.5248
• 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

+122.1% since first listed

14 events — show timeline

• 2026-05-19 Listed $199,900 Hive MLS
• 2021-07-29 Sold (MLS) $163,000 Hive MLS
• 2021-07-27 Sold (Public Records) $163,000 Public Records
• 2021-05-07 Listed $169,900 Hive MLS
• 2020-12-14 Sold (MLS) $119,900 Hive MLS
• 2020-10-24 Listed $119,900 Hive MLS
• 2018-12-10 Sold (Public Records) $105,000 Public Records
• 2018-12-10 Sold (MLS) $105,000 Hive MLS
• 2018-08-29 Listed $109,900 Hive MLS
• 2018-07-18 Listing Removed — Hive MLS
• 2018-02-20 Listed $99,000 Hive MLS
• 2017-12-31 Listing Removed — Hive MLS
• 2017-04-27 Listed $99,900 Hive MLS
• 2007-09-01 Sold (Public Records) $90,000 Public Records

Property tax history

+13.1%/yr

Latest (2025): $2,008 · +0.6% YoY. Source: county tax records.