213 W Burkhead St · Whiteville, NC 28472

$118,000

3 bd · 1.0 ba · 2,270 sqft · SingleFamily public records · 597 Days on market

Built 1950 0.33 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Lower Price!!! We have a great opportunity waiting for you to take advantage of. You now have the opportunity to buy a piece of real estate that has many opportunities. Zoned O & I, this property is close to busy 701, which would make for a great business office. However, it is move in ready for a residential listing. Whether you live in it, rent it, or use as an investment; many opportunities are available. The home is 3 bedrooms and one bath. A new split system heating and air system makes this home run efficiently. There is another home on the property that can be used for storage or be removed for additional parking space. Give us a call to tell you all the opportunities that this property offers.

Key facts

• 0.33 acre lot
• Built 1950
• Listed 597 days

Property features AI

Finance

• Other: Zoning: B3; Lot dimensions approximately 100 x 145 (0.33 acre); Road frontage on city street and state road; Frontage type: see remarks
• HOA & community: No association amenities

Exterior

• Parking: Gravel/unpaved parking
• Security: Fire sprinkler system
• Utilities: Public water; Sewer available; Water available
• Home design: Single-family residence; One level
• Construction: Brick and frame construction
• Exterior features: Shingle roof; No patio or porch; No fencing; Guest house on property; Has a view

Interior

• Kitchen: Electric water heater
• Bedrooms: Total rooms: 6
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace (electric); Wall/window air conditioning units
• Interior features: Master bedroom located downstairs; Crawl space basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.2% in Whiteville — 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 64/100 on livability (#361 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Whiteville City Schools (town): math 49% / reading 46% proficiency, ranked #81 of 178 in NC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Whiteville Primary (501 students, 99% FRL); Central Middle (math 46% / reading 45%, grade D+, #154 of 475 statewide, top 33%, 462 students, 99% FRL); Whiteville High (math 57% / reading 57%, grade C, #248 of 535 statewide, top 48%, 662 students, 99% FRL) — zoned schools average 99% FRL vs 74% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 114 active listings in the ZIP; 24 units permitted in Columbus County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $816 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Columbus County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 597 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $93k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 597 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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: 1.08% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.27%
• DSCR: 1.46
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $261,050
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 N Franklin St	0.35mi	3/2.0	2,169 (-4%)	1mo	$255,000	$118	71
500 Bob White Ln	0.49mi	3/2.0	2,297 (+1%)	11mo	$219,000	$95	62
708 Grove St #82	0.48mi	3/2.5	2,098 (-8%)	2mo	$299,900	$143	57
115 W College St	0.19mi	4/3.0 (+1)	2,477 (+9%)	8mo	$285,000	$115	56
220 N Franklin St	0.34mi	3/3.0	1,948 (-14%)	5mo	$299,000	$153	49
110 W Burkhead St	0.14mi	4/2.5 (+1)	2,498 (+10%)	23mo	$235,000	$94	47
701 Bob White Ln	0.53mi	3/2.0	2,066 (-9%)	15mo	$180,000	$87	44
403 Holly Cir	0.63mi	4/3.5 (+1)	2,479 (+9%)	4mo	$256,000	$103	37
913 Smyrna Dr	0.67mi	4/2.0 (+1)	1,950 (-14%)	20mo	$270,000	$138	20

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,141
• Equity at exit: $17,594

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $22,061
• Equity at exit: $10,202

Cash invested: $33,040 (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 28472

• Home prices YoY: -5.2%
• Active inventory: 114
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,278 medium
• Mortgage (P&I): −$619
• Tax from tax record: −$59 /mo · $706/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $283

Break-even live

Break-even rent $920

Max offer price $118,000

Occupancy floor 73%

Sensitivity live

Price	-10% $350	-5% $316	+0% $283	+5% $249	+10% $216
Rent	-10% $182	-5% $232	+0% $283	+5% $333	+10% $384
Rate	-1.0pp $342	-0.5pp $313	base $283	+0.5pp $252	+1.0pp $221

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-01-24
   price $118,000
2. 2025-10-27
   price $122,000
3. 2025-10-27
   price $122,500
4. 2025-10-06
   price $122,000
5. 2025-08-18
   price $122,500
6. 2024-10-07
   listed $125,000 Active
7. 2022-05-26
   soldstatus $93,000 Closed 720-char remark

   Show marketing remark (720 chars)

   New Lower Price!!! We have a great opportunity waiting for you to take advantage of. You now have the opportunity to buy a piece of real estate that has many opportunities. Zoned O & I, this property is close to busy 701, which would make for a great business office. However, it is move in ready for a residential listing. Whether you live in it, rent it, or use as an investment; many opportunities are available. The home is 3 bedrooms and one bath. A new split system heating and air system makes this home run efficiently. There is another home on the property that can be used for storage or be removed for additional parking space. Give us a call to tell you all the opportunities that this property offers.

8. 2022-04-06
   status Pending 720-char remark

   Show marketing remark (720 chars)

   New Lower Price!!! We have a great opportunity waiting for you to take advantage of. You now have the opportunity to buy a piece of real estate that has many opportunities. Zoned O & I, this property is close to busy 701, which would make for a great business office. However, it is move in ready for a residential listing. Whether you live in it, rent it, or use as an investment; many opportunities are available. The home is 3 bedrooms and one bath. A new split system heating and air system makes this home run efficiently. There is another home on the property that can be used for storage or be removed for additional parking space. Give us a call to tell you all the opportunities that this property offers.

9. 2021-06-09
   listed $89,900 Active 720-char remark

   Show marketing remark (720 chars)

   New Lower Price!!! We have a great opportunity waiting for you to take advantage of. You now have the opportunity to buy a piece of real estate that has many opportunities. Zoned O & I, this property is close to busy 701, which would make for a great business office. However, it is move in ready for a residential listing. Whether you live in it, rent it, or use as an investment; many opportunities are available. The home is 3 bedrooms and one bath. A new split system heating and air system makes this home run efficiently. There is another home on the property that can be used for storage or be removed for additional parking space. Give us a call to tell you all the opportunities that this property offers.

10. 2020-03-31
    historical
11. 2019-09-24
    listed $92,000

ⓘ 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: $706 · $59/mo
• Projected year-2 tax: $968 · $81/mo
• Expected delta: +$262/yr (+$22/mo · 37.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,337
• − Mortgage interest: −$6,610
• − Property taxes: −$706
• − Insurance: −$590
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − Depreciation: −$3,433
• Taxable income: $1,544
• Est. tax owed @ 24.0%: −$371
• After-tax cash flow: $3,024/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: Whiteville City Schools
• NCES district ID: 3704920
• Math proficiency: 49% ▲ 7.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $34,751
• Composite: 39.27/100
• National rank: #3999
• State rank: #81 of 178 in NC

Livability — Whiteville

• Score: 64/100
• State rank: #361
• US rank: #14254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whiteville, NC
• Population (ZIP): 17,833

Population outlook (Columbus County) Hauer SSP2

• Today (2025): 54,250 people
• By 2030: 52,378 · -3.5%
• By 2040: 48,226 · -11.1%
• By 2050: 44,103 · -18.7%
• By 2075: 35,271 · -35.0%
• By 2100: 26,909 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 32% Hispanic / Latino 4% Two or more races 3% Native American 2%
• Common ancestry: Serbian 1% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Columbus

• 2024 margin: Solid R (+33.9) · D 32.8% · R 66.7%
• 2008→2024 swing: -26.0pp toward R · 2008: -7.9pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+27.9 2016: R+22.1 2012: R+7.9 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.72%
• Current HPI: 252.022
• 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

+28.3% since first listed

11 events — show timeline

• 2026-01-24 Price Changed $118,000 Hive MLS
• 2025-10-27 Price Changed $122,000 Hive MLS
• 2025-10-27 Price Changed $122,500 Hive MLS
• 2025-10-06 Price Changed $122,000 Hive MLS
• 2025-08-18 Price Changed $122,500 Hive MLS
• 2024-10-07 Listed $125,000 Hive MLS
• 2022-05-26 Sold (MLS) $93,000 Hive MLS
• 2022-04-06 Pending — Hive MLS
• 2021-06-09 Listed $89,900 Hive MLS
• 2020-03-31 Listing Removed — Hive MLS
• 2019-09-24 Listed $92,000 Hive MLS

Property tax history

-0.7%/yr

Latest (2017): $706 · -0.7% YoY. Source: county tax records.