510 Winstead Rd · Greenville, NC 27834

$235,000

3 bd · 2.0 ba · 1,882 sqft · SingleFamily public records · 6 Days on market

Built 1986 0.31 ac lot Est $294k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.2/30.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful entry into this open 3 bedroom, 2 bath home with high ceilings and great natural light from the large windows. If you're looking for a more unique floor plan, this one stands out. The open dining area is a central feature and connects well to the two separate living spaces, offering flexibility for everyday living or entertaining. There's a covered deck just off the kitchen and one of the living areas. A screened porch off the primary bedroom and second bedroom is a great spot for morning coffee or relaxing in the evenings. The backyard is fenced and includes a large storage building. Located in a well-established neighborhood with mature trees and tucked away in the middle of Gre

Key facts

• Covered deck
• Open floor plan
• Screened porch

Tags

• OPEN FLOOR PLAN
• COVERED DECK
• SCREENED PORCH
• FENCED BACKYARD
• LARGE STORAGE BUILDING
• WELL-ESTABLISHED NEIGHBORHOOD

Property features AI

Exterior

• Parking: On-site parking
• Utilities: Water connected; Sewer connected
• Home design: Single family residence; One story; Entry level is first floor; Residential property
• Construction: Wood siding and frame construction; Shingle roof; Crawl space foundation; Built on one level
• Exterior features: Covered patio/porch; Deck; Porch; Wood fencing; Has a view; Paved road access

Interior

• Bedrooms: Total rooms: 5; Entry level: 1
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump and electric heating; Heat pump cooling
• Interior features: High ceilings; Window coverings; Gas log fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-46 ($-551/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (19.2% below list).
• Recommended offer: $190k (19.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.8% in Greenville — 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 77/100 on livability (#30 in NC, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime 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: Ridgewood Elementary (math 50% / reading 57%, grade C, #335 of 1,410 statewide, top 24%, 722 students, 47% FRL); E B Aycock Middle (math 27% / reading 30%, grade F, #355 of 475 statewide, top 76%, 661 students, 99% FRL); South Central (math 42% / reading 51%, grade D-, #344 of 535 statewide, top 64%, 1,675 students, 55% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 350 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).
• At $1,898/mo this rent would consume 47% of the median local household income ($49k/yr) (locally 3319% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 18y 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 $158k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $189,843 (19.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.81% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.84%
• DSCR: 0.96
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $293,592
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 Winstead Rd	0.00mi	3/2.0	1,882 (0%)	1mo	$242,000	$129	99
506 Cedarhurst Rd	0.12mi	3/2.5	1,775 (-6%)	1mo	$325,000	$183	82
3661 Thornbrook Dr	0.40mi	3/2.0	1,879 (-0%)	4mo	$303,000	$161	78
210 Westhaven Rd	0.29mi	3/2.0	1,972 (+5%)	3mo	$265,000	$134	76
3813 E Baywood Ln	0.40mi	3/3.0	1,966 (+4%)	1mo	$345,000	$175	69
3805 Blarney St	0.60mi	3/2.0	1,845 (-2%)	5mo	$331,000	$179	65
100 Lindenwood Dr	0.44mi	3/2.0	1,724 (-8%)	3mo	$252,000	$146	63
100 Woodstock Dr	0.54mi	3/2.0	1,752 (-7%)	3mo	$256,000	$146	60
107 Woodhaven Rd	0.44mi	4/2.5 (+1)	2,008 (+7%)	2mo	$243,500	$121	60
3809 E Baywood Ln	0.40mi	3/3.0	2,078 (+10%)	1mo	$355,000	$171	59
207 Belvedere Dr	0.57mi	3/2.0	1,695 (-10%)	4mo	$205,500	$121	53
107 E Baywood Ln	0.48mi	4/2.0 (+1)	1,600 (-15%)	7mo	$250,000	$156	42

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 · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.45×
• Total profit: $-36,249
• Equity at exit: $35,039

10-year hold

• IRR: -3.0%
• Equity multiple: 0.77×
• Total profit: $-14,813
• Equity at exit: $20,319

Cash invested: $65,800 (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 27834

• Rents YoY: 5.4%
• Active inventory: 350
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,898 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$215 /mo · $2,585/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-46

Break-even live

Break-even rent $1,957

Max offer price $226,891

Occupancy floor 97%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 South Pointe Dr Unit B Winterville, NC	3.0	2.5	1584	$1,900	$1.20	21d	1	0.38mi
409 Ophelia WAY Winterville, NC	2.0	2.5	1852	$2,170	$1.17	13d	20	0.39mi
207 Belvedere Dr Greenville, NC	3.0	2.0	1695	$2,300	$1.36	21d	1	0.55mi
3278 Colony Ct Greenville, NC	1.0–3.0	1.0–2.0	1170	$1,350	$1.15	21d	1	0.70mi
102 White Oak Dr Greenville, NC	4.0	2.0	2406	$2,600	$1.08	21d	1	0.77mi
3979 Sterling Pointe Dr Unit MMM3 Winterville, NC	2.0	2.5	1453	$1,050	$0.72	21d	1	1.10mi
311 Nantucket Ct Winterville, NC	3.0	2.5	1612	$1,850	$1.15	13d	1	1.29mi

Listing history 10 events

1. 2026-04-29
   status Pending
2. 2026-04-23
   listed $235,000 Active
3. 2016-04-09
   historical
4. 2015-11-08
   listed $154,900
5. 2015-09-25
   historical
6. 2015-03-11
   listed $164,900
7. 2008-05-16
   soldstatus $158,000
8. 2008-05-16
   soldstatus $158,000
9. 2008-04-03
   listed $164,000
10. 2003-07-01
    soldstatus $146,500

ⓘ 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: $2,585 · $215/mo
• Projected year-2 tax: $2,585 · $215/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,781
• − Mortgage interest: −$13,164
• − Property taxes: −$2,585
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,822
• − Management: −$1,822
• − Depreciation: −$6,836
• Taxable loss: −$4,623
• Est. tax savings @ 24.0%: +$1,110
• After-tax cash flow: $559/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 — Greenville

• Score: 77/100
• State rank: #30
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NC
• County: Pitt County · 142,592 people
• City population: 115,121
• Metro: Greenville, NC
• Population (ZIP): 56,347
• Household income: $48,935
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 3319.0

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 0.59)
• Race & ethnicity: Black 54% White 33% Hispanic / Latino 8% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 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: ▼ -187.99%
• Current HPI: 190.6869
• Rent YoY: ▲ 5.44%
• Metro: Greenville, NC
• 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

+60.4% since first listed

10 events — show timeline

• 2026-04-29 Pending — Hive MLS
• 2026-04-23 Listed $235,000 Hive MLS
• 2016-04-09 Listing Removed — Hive MLS
• 2015-11-08 Listed $154,900 Hive MLS
• 2015-09-25 Listing Removed — Hive MLS
• 2015-03-11 Listed $164,900 Hive MLS
• 2008-05-16 Sold (Public Records) $158,000 Public Records
• 2008-05-16 Sold (MLS) $158,000 Hive MLS
• 2008-04-03 Listed $164,000 Hive MLS
• 2003-07-01 Sold (Public Records) $146,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,585 · +0.5% YoY. Source: county tax records.