118 Apache Rd · Harrellsville, NC 27942

$95,000

2 bd · 2.0 ba · 840 sqft · Other · 225 Days on market

Built 1994 0.36 ac lot

---

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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Appreciation +5.0/10.0
• 1% rule +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

WATER VIEW. Public boat accessible, A great year-round or recreational home. Chowan river

Key facts

• Large yard
• Storage barn
• River views

Tags

• RIVER VIEWS
• LARGE SCREENED PORCH
• LARGE YARD
• STORAGE BARN

Property features AI

Exterior

• Parking: Attached garage (1 car); Total 1 parking space; Gravel, aggregate and paved parking surfaces
• Security: Security system
• Utilities: Public water; Utilities: See remarks
• Home design: Manufactured home; One story; Residential property
• Construction: Metal siding; Metal roof; Block permanent foundation; Built with 'see remarks' construction details
• Exterior features: Covered, screened porch; Partial fencing; Barn(s) on property

Interior

• Kitchen: Washer hookup in kitchen
• Bedrooms: Total rooms: 7
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric forced air heating
• Interior features: Ceiling fan(s); No fireplace
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (5.6% below list).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#122 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime D, amenities F.
• Hertford County Schools (town): math 14% / reading 26% proficiency, ranked #171 of 178 in NC (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bearfield Primary (math 27% / reading 32%, grade F, #975 of 1,410 statewide, top 71%, 560 students, 100% FRL); Hertford County Middle (math 6% / reading 26%, grade F, #455 of 475 statewide, top 96%, 536 students, 99% FRL); Hertford County High (math 12% / reading 12%, grade F, #518 of 535 statewide, top 97%, 573 students, 100% FRL) — zoned schools average 99% FRL vs 74% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 5 units permitted in Hertford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($657 loan paydown + $3k appreciation (3.0% local appreciation)).
• Hertford County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $60k; list at $95k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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: 0.94% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.67%
• DSCR: 1.30
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 13.7%
• Equity multiple: 1.78×
• Total profit: $20,815
• Equity at exit: $42,716

10-year hold

• IRR: 15.6%
• Equity multiple: 3.29×
• Total profit: $60,856
• Equity at exit: $65,831

Cash invested: $26,600 (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 27942

• Active inventory: 5
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $897 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$23 /mo · $279/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $148

Break-even live

Break-even rent $710

Max offer price $95,000

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $95,000 Active 225 DOM
2. 2026-06-17
   days on market $95,000 Active 224 DOM
3. 2026-06-16
   days on market $95,000 Active 223 DOM
4. 2026-06-15
   days on market $95,000 Active 222 DOM
5. 2026-06-13
   days on market $95,000 Active 220 DOM
6. 2026-06-12
   days on market $95,000 Active 219 DOM
7. 2026-06-09
   days on market $95,000 Active 216 DOM
8. 2026-06-08
   days on market $95,000 Active 215 DOM
9. 2026-06-07
   days on market $95,000 Active 214 DOM
10. 2026-06-07
    days on market $95,000 Active 213 DOM
11. 2026-06-04
    days on market $95,000 Active 210 DOM
12. 2026-06-02
    days on market $95,000 Active 209 DOM
13. 2026-06-01
    days on market $95,000 Active 208 DOM
14. 2026-05-31
    days on market $95,000 Active 207 DOM
15. 2025-11-05
    listed $95,000 Active
16. 2025-06-13
    soldstatus $60,000
17. 2025-06-12
    soldstatus $60,000 Closed 89-char remark

    Show marketing remark (89 chars)

    WATER VIEW. Public boat accessible, A great year-round or recreational home. Chowan river

18. 2025-06-02
    status Pending 89-char remark

    Show marketing remark (89 chars)

    WATER VIEW. Public boat accessible, A great year-round or recreational home. Chowan river

19. 2025-05-23
    listed $74,900 Active 89-char remark

    Show marketing remark (89 chars)

    WATER VIEW. Public boat accessible, A great year-round or recreational home. Chowan river

ⓘ 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: $279 · $23/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: +$500/yr (+$42/mo · 179.7%)

ⓘ 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 ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,767
• − Mortgage interest: −$5,321
• − Property taxes: −$279
• − Insurance: −$475
• − Repairs & maintenance: −$861
• − Management: −$861
• − Depreciation: −$2,764
• Taxable income: $206
• Est. tax owed @ 24.0%: −$49
• After-tax cash flow: $1,725/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: Hertford County Schools
• NCES district ID: 3702160
• Math proficiency: 14% ▼ -3.00%
• Reading proficiency: 26% ▼ -1.00%
• Median HH income: $33,467
• Composite: 16.29/100
• National rank: #9213
• State rank: #171 of 178 in NC

Livability — Harrellsville

• Score: 70/100
• State rank: #122
• US rank: #7395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 645

Population outlook (Hertford County) Hauer SSP2

• Today (2025): 23,401 people
• By 2030: 22,708 · -3.0%
• By 2040: 21,227 · -9.3%
• By 2050: 19,942 · -14.8%
• By 2075: 17,844 · -23.7%
• By 2100: 15,148 · -35.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 33% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Portuguese 4%
• Foreign-born: 3% · Canada

Political lean MEDSL · Hertford

• 2024 margin: Strong D (+26.8) · D 63.0% · R 36.3%
• 2008→2024 swing: -14.8pp toward R · 2008: 41.5pp · 2024: 26.8pp
• All cycles: 2024: D+26.8 2020: D+34.0 2016: D+37.7 2012: D+44.3 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+26.8% since first listed

5 events — show timeline

• 2025-11-05 Listed $95,000 Hive MLS
• 2025-06-13 Sold (Public Records) $60,000 Public Records
• 2025-06-12 Sold (MLS) $60,000 Hive MLS
• 2025-06-02 Pending — Hive MLS
• 2025-05-23 Listed $74,900 Hive MLS

Property tax history

+0.1%/yr

Latest (2025): $279 · +0.0% YoY. Source: county tax records.