5976 Acorn Rd · Grifton, NC 28530

$65,000

3 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 223 Days on market

Built 1930 6,534 sqft lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Must contact Listing Agent for showing

Key facts

• 6,534 sq ft lot
• 4 garage spots
• Built 1930

Property features AI

Finance

• Other: Paved road; Zoning: R6; Lot about 0.15 acres; Not in a subdivision

Exterior

• Parking: 4 total parking spaces; 4-car garage; On-site parking; Gravel parking
• Utilities: Public water; Sewer available (public sewer and septic tank listed); Water available
• Home design: Single-family residence; One story; Residential property
• Construction: Concrete, brick, stone, wood siding and frame construction; Brick/mortar foundation; Shingle and wood roof
• Exterior features: Covered porch

Interior

• Kitchen: No appliances included
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Storm windows; Unfurnished; Crawl space basement
• Laundry & utility: No laundry features specified

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 4.5% in Grifton — 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 62/100 on livability (#444 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.
• 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.
• Zoned schools: Grifton (math 23% / reading 30%, grade F, #1,073 of 1,410 statewide, top 77%, 391 students, 99% FRL); Ayden-Grifton High (math 32% / reading 42%, grade F, #414 of 535 statewide, top 79%, 659 students, 99% FRL) — zoned schools average 99% FRL vs 56% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 48 active listings in the ZIP; 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $65k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 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 1930 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.18% ✓
• Cap rate: 19.35%
• Cash-on-cash: 46.63%
• DSCR: 3.07
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $197,208
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6261 Bow Dr	0.55mi	3/2.0	1,155 (-3%)	19mo	$190,900	$165	50
154 Trotline St	0.53mi	3/2.0	1,155 (-3%)	20mo	$200,490	$174	50
645 E Hanrahan Rd	0.60mi	3/1.5	1,315 (+11%)	16mo	$218,000	$166	39

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: 39.0%
• Equity multiple: 2.67×
• Total profit: $30,315
• Equity at exit: $9,692

10-year hold

• IRR: 45.4%
• Equity multiple: 5.35×
• Total profit: $79,106
• Equity at exit: $5,620

Cash invested: $18,200 (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 28530

• Home prices YoY: -7.1%
• Active inventory: 48
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,418 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$45 /mo · $538/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $641

Break-even live

Break-even rent $607

Max offer price $65,000

Occupancy floor 50%

Sensitivity live

Price	-10% $678	-5% $659	+0% $641	+5% $622	+10% $604
Rent	-10% $529	-5% $585	+0% $641	+5% $697	+10% $753
Rate	-1.0pp $673	-0.5pp $657	base $641	+0.5pp $624	+1.0pp $607

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $65,000 Active 223 DOM
2. 2026-06-18
   days on market $65,000 Active 222 DOM
3. 2026-06-17
   days on market $65,000 Active 221 DOM
4. 2026-06-16
   days on market $65,000 Active 220 DOM
5. 2026-06-15
   days on market $65,000 Active 219 DOM
6. 2026-06-13
   days on market $65,000 Active 216 DOM
7. 2026-06-10
   days on market $65,000 Active 214 DOM
8. 2026-06-09
   days on market $65,000 Active 213 DOM
9. 2026-06-08
   days on market $65,000 Active 212 DOM
10. 2026-06-07
    days on market $65,000 Active 211 DOM
11. 2026-06-05
    days on market $65,000 Active 208 DOM
12. 2026-06-03
    days on market $65,000 Active 207 DOM
13. 2026-06-02
    days on market $65,000 Active 206 DOM
14. 2026-06-01
    days on market $65,000 Active 205 DOM
15. 2026-05-31
    days on market $65,000 Active 204 DOM
16. 2026-05-30
    days on market $65,000 Active 203 DOM
17. 2026-04-19
    price $65,000
18. 2026-03-28
    price $73,000
19. 2025-11-08
    listed $76,000 Active
20. 2024-09-13
    soldstatus $20,000

ⓘ 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: $538 · $45/mo
• Projected year-2 tax: $538 · $45/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,012
• − Mortgage interest: −$3,641
• − Property taxes: −$538
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$1,891
• Taxable income: $7,098
• Est. tax owed @ 24.0%: −$1,703
• After-tax cash flow: $5,985/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 — Grifton

• Score: 62/100
• State rank: #444
• US rank: #16371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,055

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 0.64)
• Race & ethnicity: White 48% Black 33% Hispanic / Latino 16% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 12% Vietnamese 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: ▼ -15.30%
• Current HPI: 201.1297
• 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

+225.0% since first listed

4 events — show timeline

• 2026-04-19 Price Changed $65,000 Hive MLS
• 2026-03-28 Price Changed $73,000 Hive MLS
• 2025-11-08 Listed $76,000 Hive MLS
• 2024-09-13 Sold (Public Records) $20,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $538 · +34.5% YoY. Source: county tax records.