31111 Us 264 Hwy · Belhaven, NC 27810

$88,000

3 bd · 1.0 ba · 1,488 sqft · SingleFamily public records · 26 Days on market

Built 1946 2.00 ac lot Est $71k · 23% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hardwood floors, screen porch. Formal DR. Big lvg rm. 1 bed down, 2 up. Two acres of land. Sold as is. Seller makes no repairs. HUD, its agents and/or assigns make no representation as to the existence of mold, radon, or lead-based paint and is not liable for the potentially harmful effects thereof

Key facts

• 2-acre property
• Rural setting
• 2 acre lot

Tags

• 2-ACRE PROPERTY
• FRONTAGE ALONG US 264 HWY E
• RURAL SETTING

Property features AI

Exterior

• Parking: On-site concrete parking
• Utilities: Public water; Septic tank sewer; Utilities: see remarks
• Home design: Single-family residential home; One and one-half levels; Entry at level 1; Brick and frame construction
• Construction: Brick and frame construction; Brick/mortar foundation; Flat and shingle roof
• Exterior features: Rear porch; No additional exterior features listed; Property has a view

Interior

• Kitchen: No appliances listed
• Bedrooms: Total of 4 rooms (bedroom count not explicitly listed)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating; Wood heating and fireplace(s); Has cooling; Wall/window unit(s)
• Interior features: Window coverings; Unfurnished; No built-in appliances listed; Crawl space basement (no finished basement)
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $-42 ($-505/yr) — negative.
• To cash-flow at today's rent, offer at most $81k (8.4% below list).
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $81k (8.4% below list) — sets the bar for cash-flow.
• Cap rate 11.5% vs local median 0.8% in Belhaven — 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 70/100 on livability (#127 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Beaufort County Schools (rural): math 39% / reading 42% proficiency, ranked #112 of 178 in NC (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Northeast Elementary (math 33% / reading 31%, grade F, #908 of 1,410 statewide, top 67%, 388 students, 99% FRL); Northside High (math 54% / reading 52%, grade C-, #280 of 535 statewide, top 52%, 376 students, 99% FRL) — zoned schools average 99% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 126 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 216 units permitted in Beaufort County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Beaufort County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $21k; list at $88k implies a 315% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,572 (8.4% 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 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.36% ✓
• Cap rate: 11.54%
• Cash-on-cash: 18.73%
• DSCR: 1.83
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $71,424
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
996 Pamlico St	0.14mi	3/2.0	1,560 (+5%)	8mo	$75,000	$48	75
240 E Old County Rd	0.26mi	2/1.0 (-1)	1,425 (-4%)	21mo	$46,000	$32	59
374 Cedar St	0.72mi	3/2.0	1,408 (-5%)	9mo	$167,500	$119	46

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: -19.3%
• Equity multiple: 0.32×
• Total profit: $-16,685
• Equity at exit: $13,121

10-year hold

• IRR: -11.3%
• Equity multiple: 0.31×
• Total profit: $-16,950
• Equity at exit: $7,609

Cash invested: $24,640 (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 27810

• Home prices YoY: -24.1%
• Active inventory: 126
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$65 /mo · $784/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $-42

Break-even live

Break-even rent $1,253

Max offer price $80,572

Occupancy floor 98%

Sensitivity live

Price	-10% $8	-5% $-17	+0% $-42	+5% $-67	+10% $-92
Rent	-10% $-137	-5% $-89	+0% $-42	+5% $5	+10% $53
Rate	-1.0pp $2	-0.5pp $-20	base $-42	+0.5pp $-65	+1.0pp $-88

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 Elm St Belhaven, NC	3.0	2.0	1200	$1,200	$1.00	22d	1	0.37mi

Listing history 20 events

1. 2026-06-22
   days on market $88,000 Active 26 DOM
2. 2026-06-19
   days on market $88,000 Active 24 DOM
3. 2026-06-18
   days on market $88,000 Active 23 DOM
4. 2026-06-17
   days on market $88,000 Active 22 DOM
5. 2026-06-16
   days on market $88,000 Active 21 DOM
6. 2026-06-15
   days on market $88,000 Active 20 DOM
7. 2026-06-14
   days on market $88,000 Active 18 DOM
8. 2026-06-13
   days on market $88,000 Active 17 DOM
9. 2026-06-10
   days on market $88,000 Active 15 DOM
10. 2026-06-09
    days on market $88,000 Active 14 DOM
11. 2026-06-08
    days on market $88,000 Active 13 DOM
12. 2026-06-07
    days on market $88,000 Active 12 DOM
13. 2026-06-03
    days on market $88,000 Active 8 DOM
14. 2026-06-02
    days on market $88,000 Active 7 DOM
15. 2026-06-01
    days on market $88,000 Active 6 DOM
16. 2026-05-31
    days on market $88,000 Active 5 DOM
17. 2026-05-30
    days on market $88,000 Active 4 DOM
18. 2026-05-26
    listed $88,000 Active
19. 2014-04-08
    soldstatus $21,200 299-char remark

    Show marketing remark (299 chars)

    Hardwood floors, screen porch. Formal DR. Big lvg rm. 1 bed down, 2 up. Two acres of land. Sold as is. Seller makes no repairs. HUD, its agents and/or assigns make no representation as to the existence of mold, radon, or lead-based paint and is not liable for the potentially harmful effects thereof

20. 2014-02-14
    listed $22,000 299-char remark

    Show marketing remark (299 chars)

    Hardwood floors, screen porch. Formal DR. Big lvg rm. 1 bed down, 2 up. Two acres of land. Sold as is. Seller makes no repairs. HUD, its agents and/or assigns make no representation as to the existence of mold, radon, or lead-based paint and is not liable for the potentially harmful effects thereof

ⓘ 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: $784 · $65/mo
• Projected year-2 tax: $784 · $65/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$4,929
• − Property taxes: −$784
• − Insurance: −$5,558
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$2,560
• Taxable loss: −$1,736
• Est. tax savings @ 24.0%: +$417
• After-tax cash flow: $-88/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: Beaufort County Schools
• NCES district ID: 3700330
• Math proficiency: 39% ▬ 0.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $40,486
• Composite: 33.99/100
• National rank: #5320
• State rank: #112 of 178 in NC

Livability — Belhaven

• Score: 70/100
• State rank: #127
• US rank: #7447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,637

Population outlook (Beaufort County) Hauer SSP2

• Today (2025): 47,069 people
• By 2030: 46,417 · -1.4%
• By 2040: 44,455 · -5.6%
• By 2050: 42,239 · -10.3%
• By 2075: 37,349 · -20.7%
• By 2100: 32,434 · -31.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 20% Hispanic / Latino 5% Two or more races 3% Native American 1%
• Common ancestry: Italian 5% Serbian 3% Iranian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Beaufort

• 2024 margin: Solid R (+31.1) · D 34.1% · R 65.2%
• 2008→2024 swing: -13.7pp toward R · 2008: -17.4pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+25.9 2016: R+24.5 2012: R+19.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.05%
• Current HPI: 173.3725
• 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

+300.0% since first listed

3 events — show timeline

• 2026-05-26 Listed $88,000 Hive MLS
• 2014-04-08 Sold (MLS) $21,200 Hive MLS
• 2014-02-14 Listed $22,000 Hive MLS

Property tax history

+3.1%/yr

Latest (2025): $784 · +89.3% YoY. Source: county tax records.