11246 U.s. Hwy 301 S · Benson, NC 27524

$205,000

3 bd · 1.5 ba · 1,296 sqft · SingleFamily · 3 Days on market

Built 1942 Good condition 0.76 ac lot $158/sqft · 30% below area Est $291k · 30% under

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Why this score? — see what drove the D+ 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 +15.0/15.0
• Cash flow +12.0/30.0
• Schools +5.4/10.0
• Condition / age +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this quaint, updated three-bedroom, one-and-a-half-bath single family home with No City taxes and a large yard. No restrictions! No HOA. Situated on . 5 acre lot with adjoining 0.26 acre lot included in the price. This property offers substantial outdoor space for your lifestyle needs. Includes large laundry room with sink. Town of Benson water. Septic tank. Stove 2025. New A/C condenser fan 2025. New water heater element 2025. New bathroom vanity and lighting. New shiplap. Fast Brightspeed Internet. Close to Triangle area, Fayetteville, and Goldsboro. Home is being sold AS IS.

Key facts

• Septic tank
• Stove
• Large yard

Tags

• LARGE YARD
• SUBSTANTIAL OUTDOOR SPACE
• LARGE LAUNDRY ROOM
• TOWN OF BENSON WATER
• SEPTIC TANK
• STOVE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $205k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-50 ($-599/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (15.6% below list).
• Recommended offer: $173k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.4% in Benson — 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 68/100 on livability (#205 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• Johnston County Public Schools (rural): math 39% / reading 42% proficiency, ranked #105 of 178 in NC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Four Oaks Elementary (math 34% / reading 36%, grade F, #825 of 1,410 statewide, top 59%, 1,041 students, 69% FRL); Four Oaks Middle (math 34% / reading 38%, grade F, #273 of 475 statewide, top 58%, 468 students, 67% FRL); South Johnston High (math 27% / reading 27%, grade F, #468 of 535 statewide, top 88%, 1,331 students, 56% FRL) — zoned schools average 64% FRL vs 41% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 284 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,783 units permitted in Johnston County in 2024 (6 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.
• Johnston County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $173,008 (15.6% 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. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.84% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

• ARV (median comp): $290,838
• List price: $205,000
• Delta: -29.51%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Trey Dr	1.14mi	3/2.0	1,294 (-0%)	4mo	$305,000	$236	59
109 Nicole Dr	1.15mi	3/2.0	1,318 (+2%)	3mo	$255,000	$193	58
8921 U.s. Hwy 301 S	1.26mi	3/1.0	1,404 (+8%)	1mo	$200,000	$142	48
116b Willa Chase Ct	1.19mi	3/2.0	1,586 (+22%)	3mo	$318,000	$201	35
114 Larksdale Cv	1.14mi	3/2.0	1,544 (+19%)	3mo	$290,000	$188	35
127 Phyllis Dr	1.38mi	3/2.0	1,620 (+25%)	3mo	$350,000	$216	35
104 Hummingbird Grove Ln	1.34mi	3/2.0	1,570 (+21%)	4mo	$324,840	$207	34
375 Camelia Rd	1.23mi	3/2.0	1,506 (+16%)	6mo	$260,000	$173	33
113 Larksdale Cv	1.14mi	3/2.0	1,451 (+12%)	12mo	$297,000	$205	33
115 Hunterwood Pl	1.03mi	3/2.0	1,528 (+18%)	9mo	$295,000	$193	31
248-A Gilbert Rd	1.08mi	3/2.0	1,485 (+15%)	12mo	$385,000	$259	29
119 Hunterwood Pl	1.01mi	3/2.0	1,608 (+24%)	12mo	$310,000	$193	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: -18.0%
• Equity multiple: 0.37×
• Total profit: $-36,374
• Equity at exit: $30,566

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-35,664
• Equity at exit: $17,725

Cash invested: $57,400 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $274,900 ($182/sqft)
• Median days on market: 55 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +23.5% above current asking $/sqft

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

ZIP-level market 27524

• Home prices YoY: -8.4%
• Active inventory: 284
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $-50

Break-even live

Break-even rent $1,793

Max offer price $197,773

Occupancy floor 98%

Sensitivity live

Price	-10% $92	-5% $21	+0% $-50	+5% $-121	+10% $-192
Rent	-10% $-187	-5% $-118	+0% $-50	+5% $18	+10% $87
Rate	-1.0pp $53	-0.5pp $2	base $-50	+0.5pp $-103	+1.0pp $-157

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: $51,250
• Closing costs: $6,150
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
481 Ivey Rd Benson, NC	3.0	2.0	1500	$1,900	$1.27	119d	1	1.17mi
220 Sandy Rd Four Oaks, NC	3.0	2.0	1250	$1,550	$1.24	10d	1	1.39mi

Property features AI

Finance

• HOA & community: No associationNo community amenities

Exterior

• Parking: Attached carport (1 space)Driveway parkingOpen parking
• Utilities: Public waterSeptic tankElectricity connectedSeptic connectedWater connected
• Home design: HouseOne storyEntry at level 1Not waterfrontZoned RAG
• Construction: Vinyl sidingArchitectural shingle roofCombination foundationBuilt as a house
• Exterior features: DeckFront porchRain guttersOutbuilding/storage

Interior

• Kitchen: DishwasherElectric rangeMicrowaveRange hoodRefrigeratorElectric water heater
• Bedrooms: 3 bedrooms, all on the main level
• Flooring: Luxury vinyl
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: No listed heating systemCentral airHeat pumpCeiling fan(s)Electric
• Interior features: Bathtub/shower combinationCeiling fan(s)High-speed internetKitchen/dining room combinationPrimary bedroom on main levelBlinds
• Laundry & utility: Main-level laundry room with sink

Listing history 3 events

1. 2026-06-07
   days on market $205,000 Active 3 DOM
2. 2026-06-05
   remarks 597-char remark
3. 2026-06-05
   listed $205,000 Active 1 DOM

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

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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,761
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$5,964
• Taxable loss: −$4,108
• Est. tax savings @ 24.0%: +$986
• After-tax cash flow: $386/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 · 14 photos

Good 75/100 Cosmetic rehab Est. rehab $6,480–$19,440 screening

This updated single-family home offers a good condition with recent updates in the kitchen and bathrooms. However, the roof requires a major repair. Painting the exterior and improving landscaping can further enhance its value.

Repairs flagged

• Major roof — No recent roof replacement visible in satellite image.

Value-add opportunities

• Resale Painting exterior — Fresh paint can significantly improve curb appeal and resale value. ↑
• Rental Landscaping — Well-maintained landscaping can attract tenants and increase rental value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Four Oaks Elementary F NC #825/1,410 Nat'l #22,904/41,679 Middle Four Oaks Middle F NC #273/475 Nat'l #7,206/14,009 High Johnston Co Early College Academy A+ NC #40/535 Nat'l #418/17,239

Schools (NCES district)

• District: Johnston County Public Schools
• NCES district ID: 3702370
• Math proficiency: 39% ▲ 4.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $50,912
• Composite: 34.99/100
• National rank: #5052
• State rank: #105 of 178 in NC

C Composite livability gradescore 68/100

Livability — Benson

• Score: 68/100
• State rank: #205
• US rank: #9985

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Johnston · 222,440 people
• City population: 17,079
• Metro: Raleigh-Cary, NC
• Population (ZIP): 14,420
• Household income: $76,141
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 3% of renters

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Population outlook (Johnston County) Hauer SSP2

• Today (2025): 222,440 people
• By 2030: 240,227 · +8.0%
• By 2040: 274,616 · +23.5%
• By 2050: 304,915 · +37.1%
• By 2075: 369,507 · +66.1%
• By 2100: 406,280 · +82.6%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 20% Black 12% Two or more races 4%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 10% · Canada
• Languages at home: 82% English-only · Spanish 17%

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Political lean MEDSL · Johnston

• 2024 margin: Strong R (+21.5) · D 38.7% · R 60.2% · Other 1.1%
• 2008→2024 swing: +2.2pp toward D · 2008: -23.7pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+24.3 2016: R+30.7 2012: R+27.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.19%
• Current HPI: 252.1481
• Rent YoY: —
• Metro: —
• 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

• HOA & community: No associationNo community amenities

Exterior

• Parking: Attached carport (1 space)Driveway parkingOpen parking
• Utilities: Public waterSeptic tankElectricity connectedSeptic connectedWater connected
• Home design: HouseOne storyEntry at level 1Not waterfrontZoned RAG
• Construction: Vinyl sidingArchitectural shingle roofCombination foundationBuilt as a house
• Exterior features: DeckFront porchRain guttersOutbuilding/storage

Interior

• Kitchen: DishwasherElectric rangeMicrowaveRange hoodRefrigeratorElectric water heater
• Bedrooms: 3 bedrooms, all on the main level
• Flooring: Luxury vinyl
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: No listed heating systemCentral airHeat pumpCeiling fan(s)Electric
• Interior features: Bathtub/shower combinationCeiling fan(s)High-speed internetKitchen/dining room combinationPrimary bedroom on main levelBlinds
• Laundry & utility: Main-level laundry room with sink