103 N Adkin St · Kinston, NC 28501

$30,000

4 bd · 2.0 ba · 1,815 sqft · Other public records · 18 Days on market

Built 1969 6,534 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Prime investment opportunity. This duplex is being sold as-is and offers two separate units, each featuring 3 bedrooms and 1 full bathroom. Property presents an excellent opportunity for investors looking to add to their portfolio, renovate, or generate rental income. Neither unit currently has central heating or air conditioning nor electrical. Duplex is being SOLD AS-IS. Conveniently located with easy access to local amenities, shopping, and dining.

Key facts

• 6,534 sq ft lot
• Built 1969
• Listed 18 days

Property features AI

Finance

• Other: Zoning: RA5; Lot size about 0.15 acres

Exterior

• Parking: Unpaved parking
• Utilities: Public water; Public sewer; Water and sewer are connected
• Home design: Duplex (Residential Income); Single-story
• Construction: Brick and frame construction; Slab foundation; Built as a one-story structure
• Exterior features: Shingle roof; Private road frontage; Property has a view; Lot dimensions approximately 59 x 106 x 74 x 110

Interior

• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Heating & cooling: No heating; No cooling
• Interior features: No central heating or cooling

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 49.1% vs local median 3.8% in Kinston — 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 55/100 on livability (#640 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southeast Elementary (math 8% / reading 17%, grade F, #1,362 of 1,410 statewide, top 97%, 190 students, 97% FRL); Rochelle Middle (math 9% / reading 20%, grade F, #462 of 475 statewide, top 98%, 466 students, 98% FRL); Kinston High (math 22% / reading 37%, grade F, #459 of 535 statewide, top 87%, 713 students, 100% FRL) — zoned schools average 98% FRL vs 65% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 95 active listings in the ZIP; 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Lenoir County population projected at -18% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — 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. 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?
6. 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.
7. 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.
8. 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: 5.40% ✓
• Cap rate: 49.13%
• Cash-on-cash: 152.99%
• DSCR: 7.81
• GRM: 1.5

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: —
• Equity multiple: 8.54×
• Total profit: $63,373
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 18.04×
• Total profit: $143,116
• Equity at exit: $2,594

Cash invested: $8,400 (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 28501

• Home prices YoY: -18.9%
• Active inventory: 95
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,619 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$38 /mo · $456/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $1,071

Break-even live

Break-even rent $263

Max offer price $30,000

Occupancy floor 29%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-16
   status $30,000 Pending 18 DOM
2. 2026-06-15
   days on market $30,000 Active 18 DOM
3. 2026-06-14
   days on market $30,000 Active 16 DOM
4. 2026-06-12
   days on market $30,000 Active 15 DOM
5. 2026-06-09
   days on market $30,000 Active 12 DOM
6. 2026-06-08
   days on market $30,000 Active 11 DOM
7. 2026-06-07
   days on market $30,000 Active 10 DOM
8. 2026-06-07
   days on market $30,000 Active 9 DOM
9. 2026-06-04
   days on market $30,000 Active 6 DOM
10. 2026-06-02
    days on market $30,000 Active 5 DOM
11. 2026-06-01
    days on market $30,000 Active 4 DOM
12. 2026-05-31
    days on market $30,000 Active 3 DOM
13. 2026-05-31
    days on market $30,000 Active 2 DOM
14. 2026-05-28
    listed $30,000 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: $456 · $38/mo
• Projected year-2 tax: $456 · $38/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 3/10 Moderate FEMA zone X (shaded) · 10% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,424
• − Mortgage interest: −$1,680
• − Property taxes: −$456
• − Insurance: −$150
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − Depreciation: −$873
• Taxable income: $13,157
• Est. tax owed @ 24.0%: −$3,158
• After-tax cash flow: $9,694/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — Kinston

• Score: 55/100
• State rank: #640
• US rank: #23267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kinston, NC
• City population: 20,407
• Population (ZIP): 18,112

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.17%
• Current HPI: 193.3213
• 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

1 event — show timeline

• 2026-05-28 Listed $30,000 Hive MLS

Property tax history

-0.6%/yr

Latest (2025): $456 · +163.0% YoY. Source: county tax records.