6525 Little Creek Rd · Middlesex, NC 27597

$234,900

4 bd · 2.0 ba · 1,860 sqft · Manufactured public records · 56 Days on market

Built 2024 1.12 ac lot Est $206k · 14% over

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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 +20.2/30.0
• DSCR +6.4/10.0
• 1% rule +4.4/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +1.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Case # 381-817045 HUD owned. Sold as-is. Insurability Status:IN Cute home with tons of potential. Home features large lot. 3 bedrooms and 2 baths large living room. Ask your agent for details. Please note utilities are off at this property-bring a flashlight. See agent remarks for bidding instructions.

Key facts

• Open layout
• Large island
• Granite countertops

Tags

• OPEN LAYOUT
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• MODERN SHAKER CABINETS
• LARGE ISLAND
• LUXURY VINYL PLANK FLOORING

Property features AI

Finance

• Other: Lot size: approximately 1.12 acres
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Well water; Septic tank
• Home design: Manufactured double-wide home; One story
• Construction: Vinyl siding
• Exterior features: Shingle roof; Publicly maintained paved road access

Interior

• Kitchen: Granite counters
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (forced air); Central air conditioning
• Interior features: Bathtub/shower combination; Walk-in shower; Granite counters
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $235k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (5.6% below list).
• Recommended offer: $222k (5.6% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.2% in Middlesex — 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 59/100 on livability (#551 in NC) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Nash-Rocky Mount Schools (rural): math 20% / reading 32% proficiency, ranked #155 of 178 in NC (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Southern Nash Middle (math 20% / reading 35%, grade F, #368 of 475 statewide, top 78%, 798 students, 69% FRL); Southern Nash High (math 32% / reading 44%, grade F, #409 of 535 statewide, top 77%, 1,070 students, 56% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: Rents rising (+1.5%/yr); 668 active listings in the ZIP; solid renter incomes; 500 units permitted in Nash County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Nash County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y 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 $96k; list at $235k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,844 (5.6% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. 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: 0.94% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.42%
• DSCR: 1.24
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $206,460
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6505 Crowned Ct	0.66mi	4/2.0	1,716 (-8%)	23mo	$190,000	$111	37

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 · 1.54% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.66×
• Total profit: $-22,431
• Equity at exit: $35,024

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-8,259
• Equity at exit: $20,310

Cash invested: $65,772 (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 27597

• Home prices YoY: -30.1%
• Rents YoY: 1.5%
• Active inventory: 668
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,218 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$126 /mo · $1,510/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $297

Break-even live

Break-even rent $1,843

Max offer price $234,900

Occupancy floor 82%

Sensitivity live

Price	-10% $430	-5% $363	+0% $297	+5% $230	+10% $164
Rent	-10% $122	-5% $209	+0% $297	+5% $385	+10% $472
Rate	-1.0pp $415	-0.5pp $357	base $297	+0.5pp $236	+1.0pp $174

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-17
   status $234,900 Pending 56 DOM
2. 2026-06-17
   days on market $234,900 Active 56 DOM
3. 2026-06-16
   days on market $234,900 Active 55 DOM
4. 2026-06-15
   days on market $234,900 Active 54 DOM
5. 2026-06-14
   days on market $234,900 Active 52 DOM
6. 2026-06-13
   days on market $234,900 Active 51 DOM
7. 2026-06-10
   days on market $234,900 Active 49 DOM
8. 2026-06-09
   days on market $234,900 Active 48 DOM
9. 2026-06-09
   price $234,900 Active 47 DOM
10. 2026-06-08
    days on market $237,900 Active 47 DOM
11. 2026-06-07
    days on market $237,900 Active 46 DOM
12. 2026-06-03
    days on market $237,900 Active 42 DOM
13. 2026-06-02
    days on market $237,900 Active 41 DOM
14. 2026-06-01
    days on market $237,900 Active 40 DOM
15. 2026-05-31
    days on market $237,900 Active 39 DOM
16. 2026-05-30
    days on market $237,900 Active 38 DOM
17. 2026-05-21
    status Active
18. 2026-04-16
    status Pending
19. 2026-04-09
    price $237,900
20. 2026-04-03
    status Active
21. 2026-02-09
    status Pending
22. 2026-02-05
    price $238,900
23. 2026-01-24
    listed $239,900 Active
24. 2019-04-25
    soldstatus $96,000
25. 2019-03-29
    soldstatus $503,500
26. 2012-08-13
    soldstatus $28,000 303-char remark

    Show marketing remark (303 chars)

    Case # 381-817045 HUD owned. Sold as-is. Insurability Status:IN Cute home with tons of potential. Home features large lot. 3 bedrooms and 2 baths large living room. Ask your agent for details. Please note utilities are off at this property-bring a flashlight. See agent remarks for bidding instructions.

27. 2012-08-13
    soldstatus $28,000 303-char remark

    Show marketing remark (303 chars)

    Case # 381-817045 HUD owned. Sold as-is. Insurability Status:IN Cute home with tons of potential. Home features large lot. 3 bedrooms and 2 baths large living room. Ask your agent for details. Please note utilities are off at this property-bring a flashlight. See agent remarks for bidding instructions.

28. 2012-05-10
    listed $40,500 303-char remark

    Show marketing remark (303 chars)

    Case # 381-817045 HUD owned. Sold as-is. Insurability Status:IN Cute home with tons of potential. Home features large lot. 3 bedrooms and 2 baths large living room. Ask your agent for details. Please note utilities are off at this property-bring a flashlight. See agent remarks for bidding instructions.

29. 2012-05-10
    listed $40,500 303-char remark

    Show marketing remark (303 chars)

    Case # 381-817045 HUD owned. Sold as-is. Insurability Status:IN Cute home with tons of potential. Home features large lot. 3 bedrooms and 2 baths large living room. Ask your agent for details. Please note utilities are off at this property-bring a flashlight. See agent remarks for bidding instructions.

30. 2007-09-07
    soldstatus $95,000
31. 2007-05-22
    soldstatus $36,500
32. 2001-04-16
    soldstatus $25,000

ⓘ 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: $1,510 · $126/mo
• Projected year-2 tax: $1,926 · $161/mo
• Expected delta: +$416/yr (+$35/mo · 27.5%)

ⓘ 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 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% 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: $26,621
• − Mortgage interest: −$13,158
• − Property taxes: −$1,510
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,130
• − Management: −$2,130
• − Depreciation: −$6,833
• Taxable loss: −$315
• Est. tax savings @ 24.0%: +$75
• After-tax cash flow: $3,639/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: Nash-Rocky Mount Schools
• NCES district ID: 3703270
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $41,553
• Composite: 22.04/100
• National rank: #8198
• State rank: #155 of 178 in NC

Livability — Middlesex

• Score: 59/100
• State rank: #551
• US rank: #20308

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wake County · 1,216,256 people
• Metro: Raleigh-Cary, NC
• Population (ZIP): 30,184
• Household income: $84,625
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 592.0

Population outlook (Nash County) Hauer SSP2

• Today (2025): 91,107 people
• By 2030: 89,193 · -2.1%
• By 2040: 84,959 · -6.7%
• By 2050: 80,517 · -11.6%
• By 2075: 72,941 · -19.9%
• By 2100: 63,602 · -30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Black 24% Hispanic / Latino 15% Two or more races 10%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 4% Slovak 3% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 87% English-only · Spanish 12%

Political lean MEDSL · Nash

• 2024 margin: Toss-up / Even · D 48.7% · R 50.5%
• 2008→2024 swing: -0.4pp no change · 2008: -1.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.2 2016: R+0.2 2012: D+0.9 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.86%
• Current HPI: 220.7242
• Rent YoY: ▲ 1.54%
• Metro: Raleigh-Cary, 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

+851.6% since first listed

16 events — show timeline

• 2026-05-21 Relisted — TMLS
• 2026-04-16 Pending — TMLS
• 2026-04-09 Price Changed $237,900 TMLS
• 2026-04-03 Relisted — TMLS
• 2026-02-09 Pending — TMLS
• 2026-02-05 Price Changed $238,900 TMLS
• 2026-01-24 Listed $239,900 TMLS
• 2019-04-25 Sold (Public Records) $96,000 Public Records
• 2019-03-29 Sold (Public Records) $503,500 Public Records
• 2012-08-13 Sold (MLS) $28,000 AMLSNC
• 2012-08-13 Sold (MLS) $28,000 TMLS
• 2012-05-10 Listed $40,500 AMLSNC
• 2012-05-10 Listed $40,500 TMLS
• 2007-09-07 Sold (Public Records) $95,000 Public Records
• 2007-05-22 Sold (Public Records) $36,500 Public Records
• 2001-04-16 Sold (Public Records) $25,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,510 · +123.4% YoY. Source: county tax records.