1301 Dickinson Ave · Greenville, NC 27834

$449,000

5 bd · 9.0 ba · 2,743 sqft · MultiFamily public records · 103 Days on market

Built 1925 6,970 sqft lot ↓ 10% since listing

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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).

• Cash flow +17.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Triplex for sale located on the corner of 14th Street and Dickinson Ave. Property is zoned CDF - commercial development is possible with the parcel or continue as a residential rental. Currently, the property is vacant. Seller has never occupied the property.

Key facts

• Zoned cdf
• Vacant
• 6,970 sq ft lot

Tags

• ZONED CDF
• VACANT

Property features AI

Finance

• Other: Located on corner of 14th St and Dickinson Ave in Greenville, NC
• Financial info: Triplex with 3 total units; Owner pays: None
• HOA & community: No association

Exterior

• Parking: Open parking with 6 spaces; Parking features: see remarks
• Utilities: Public water; Public sewer
• Home design: Triplex; Two levels; Lot is approximately 0.16 acres; Zoning: CDF
• Construction: Brick construction
• Exterior features: Shingle roof; City street frontage; Asphalt road surface; Publicly maintained road

Interior

• Bedrooms: 5 bedrooms total
• Flooring: Laminate; Wood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heating present (type listed as Other); Cooling present (type listed as Other)
• Interior features: Laminate and wood flooring; Property listed as fixer

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive. Per door: $105/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $376k (16.3% below list).
• Recommended offer: $376k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.8% in Greenville — 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 77/100 on livability (#30 in NC, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools C-, crime F, employment 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.
• Market conditions: Rents rising fast (+5.4%/yr); 350 active listings in the ZIP; 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).
• At $3,757/mo this rent would consume 92% of the median local household income ($49k/yr) (locally 3319% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($409k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $375,700 (16.3% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.02%
• DSCR: 1.13
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.65×
• Total profit: $-43,388
• Equity at exit: $66,947

10-year hold

• IRR: 2.8%
• Equity multiple: 1.22×
• Total profit: $28,017
• Equity at exit: $38,821

Cash invested: $125,720 (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 27834

• Rents YoY: 5.4%
• Active inventory: 350
• Price-to-rent: 29.9×

Monthly cashflow live

• Estimated rent: $3,757 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$110 /mo · $1,321/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$789
• Net cashflow: $316

Break-even live

Break-even rent $3,357

Max offer price $449,000

Occupancy floor 87%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$3,756
Total (3 units)			$3,757

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $449,000 Active 103 DOM
2. 2026-06-18
   days on market $449,000 Active 102 DOM
3. 2026-06-17
   days on market $449,000 Active 101 DOM
4. 2026-06-16
   days on market $449,000 Active 100 DOM
5. 2026-06-15
   days on market $449,000 Active 99 DOM
6. 2026-06-13
   days on market $449,000 Active 96 DOM
7. 2026-06-10
   days on market $449,000 Active 94 DOM
8. 2026-06-09
   days on market $449,000 Active 93 DOM
9. 2026-06-08
   days on market $449,000 Active 92 DOM
10. 2026-06-07
    days on market $449,000 Active 91 DOM
11. 2026-06-05
    days on market $449,000 Active 88 DOM
12. 2026-06-03
    days on market $449,000 Active 87 DOM
13. 2026-06-02
    days on market $449,000 Active 86 DOM
14. 2026-06-01
    days on market $449,000 Active 85 DOM
15. 2026-05-31
    days on market $449,000 Active 84 DOM
16. 2026-05-30
    days on market $449,000 Active 83 DOM
17. 2026-03-08
    listed $449,000 Active 259-char remark

    Show marketing remark (259 chars)

    Triplex for sale located on the corner of 14th Street and Dickinson Ave. Property is zoned CDF - commercial development is possible with the parcel or continue as a residential rental. Currently, the property is vacant. Seller has never occupied the property.

18. 2026-03-08
    listed $449,000 Active

    Show marketing remark (259 chars)

    Triplex for sale located on the corner of 14th Street and Dickinson Ave. Property is zoned CDF - commercial development is possible with the parcel or continue as a residential rental. Currently, the property is vacant. Seller has never occupied the property.

19. 2026-02-24
    historical
20. 2025-02-24
    listed $499,000 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: $1,321 · $110/mo
• Projected year-2 tax: $3,682 · $307/mo
• Expected delta: +$2,361/yr (+$197/mo · 178.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,084
• − Mortgage interest: −$25,151
• − Property taxes: −$1,321
• − Insurance: −$2,245
• − Repairs & maintenance: −$3,607
• − Management: −$3,607
• − Depreciation: −$13,062
• Taxable loss: −$3,908
• Est. tax savings @ 24.0%: +$938
• After-tax cash flow: $4,733/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 — Greenville

• Score: 77/100
• State rank: #30
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NC
• County: Pitt County · 142,592 people
• City population: 115,121
• Metro: Greenville, NC
• Population (ZIP): 56,347
• Household income: $48,935
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 3319.0

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 0.59)
• Race & ethnicity: Black 54% White 33% Hispanic / Latino 8% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 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: ▼ -187.99%
• Current HPI: 190.6869
• Rent YoY: ▲ 5.44%
• Metro: Greenville, 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

-10.0% since first listed

4 events — show timeline

• 2026-03-08 Listed $449,000 Hive MLS
• 2026-03-08 Listed $449,000 TMLS
• 2026-02-24 Listing Removed — Hive MLS
• 2025-02-24 Listed $499,000 Hive MLS

Property tax history

+10.4%/yr

Latest (2025): $1,321 · +0.9% YoY. Source: county tax records.