512 Nicholson St · Clinton, NC 28328

$92,000

4 bd · 2.0 ba · 1,536 sqft · SingleFamily public records · 12 Days on market

Built 1950 9,148 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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Conveniently located within the city limits and within walking distance of downtown, this duplex offers excellent potential. Each unit features 2 bedrooms and 1 full bath. The property requires extensive repairs and updates but provides a great opportunity for renovation or investment. With its central location and solid structure, this property has strong potential for future income or resale. Property sold AS-IS.

Key facts

• Central location
• Solid structure
• 9,148 sq ft lot

Tags

• WALKING DISTANCE OF DOWNTOWN
• CENTRAL LOCATION
• SOLID STRUCTURE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Cap rate 10.6% vs local median 3.0% in Clinton — 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 66/100 on livability (#261 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Clinton City Schools (town): math 46% / reading 40% proficiency, ranked #102 of 178 in NC (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Langdon C Kerr Elementary (396 students, 99% FRL); Sampson Middle (math 43% / reading 44%, grade D, #182 of 475 statewide, top 40%, 647 students, 100% FRL); Clinton High (math 62% / reading 44%, grade C-, #281 of 535 statewide, top 53%, 851 students, 99% FRL) — zoned schools average 99% FRL vs 71% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 147 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 189 units permitted in Sampson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Sampson County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $92,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-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. 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?
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: 1.30% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.28%
• DSCR: 1.68
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $227,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 E Johnson St	0.33mi	3/2.0 (-1)	1,585 (+3%)	6mo	$195,000	$123	69
207 Pearl St	0.38mi	3/2.0 (-1)	1,500 (-2%)	14mo	$259,900	$173	61
604 Blaney St	0.15mi	3/2.0 (-1)	1,713 (+12%)	11mo	$199,500	$116	60
108 Carolina Ave	0.52mi	3/2.0 (-1)	1,505 (-2%)	11mo	$200,000	$133	58
400 Grove St	0.66mi	3/2.0 (-1)	1,506 (-2%)	3mo	$290,000	$193	58
306 Warsaw Rd	0.64mi	3/1.5 (-1)	1,478 (-4%)	2mo	$235,000	$159	55
907 Raleigh Rd	0.62mi	3/2.0 (-1)	1,451 (-6%)	8mo	$215,000	$148	51
301 Graham St	0.60mi	3/2.0 (-1)	1,650 (+7%)	11mo	$255,000	$155	46
912 College St	0.41mi	3/1.0 (-1)	1,347 (-12%)	12mo	$124,000	$92	41
316 Carolina Ave	0.63mi	3/3.0 (-1)	1,640 (+7%)	12mo	$275,000	$168	40
506 Underwood St	0.74mi	3/2.5 (-1)	1,700 (+11%)	11mo	$205,000	$121	32
303 Dixie Cir	0.73mi	3/1.0 (-1)	1,353 (-12%)	11mo	$182,900	$135	28

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: 6.0%
• Equity multiple: 1.23×
• Total profit: $5,985
• Equity at exit: $13,717

10-year hold

• IRR: 15.4%
• Equity multiple: 2.25×
• Total profit: $32,139
• Equity at exit: $7,954

Cash invested: $25,760 (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 28328

• Home prices YoY: -17.3%
• Active inventory: 147
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$99 /mo · $1,192/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $328

Break-even live

Break-even rent $785

Max offer price $92,000

Occupancy floor 68%

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 W Boney St Clinton, NC	3.0	1.0	1125	$1,200	$1.07	13d	1	0.96mi

Listing history 2 events

1. 2026-05-31
   remarks 418-char remark
2. 2026-05-31
   listed $92,000 Pending 12 DOM

ⓘ 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: $1,192 · $99/mo
• Projected year-2 tax: $1,192 · $99/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 5/10 Major FEMA zone X (unshaded) · 53% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$5,153
• − Property taxes: −$1,192
• − Insurance: −$460
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$2,676
• Taxable income: $2,615
• Est. tax owed @ 24.0%: −$628
• After-tax cash flow: $3,307/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: Clinton City Schools
• NCES district ID: 3700930
• Math proficiency: 46% ▲ 7.00%
• Reading proficiency: 40% ▲ 3.00%
• Median HH income: $34,166
• Composite: 35.5/100
• National rank: #4919
• State rank: #102 of 178 in NC

Livability — Clinton

• Score: 66/100
• State rank: #261
• US rank: #11402

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, NC
• City population: 26,314
• Population (ZIP): 26,314

Population outlook (Sampson County) Hauer SSP2

• Today (2025): 63,499 people
• By 2030: 62,970 · -0.8%
• By 2040: 61,609 · -3.0%
• By 2050: 60,462 · -4.8%
• By 2075: 60,108 · -5.3%
• By 2100: 62,120 · -2.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 40% Black 29% Hispanic / Latino 26% Two or more races 4% Native American 4%
• Hispanic origin (detail): Mexican 12% Cuban 1%
• Common ancestry: Serbian 1% Slovak 1%
• Foreign-born: 15% · Canada
• Languages at home: 77% English-only · Spanish 22%

Political lean MEDSL · Sampson

• 2024 margin: Strong R (+29.8) · D 34.8% · R 64.6%
• 2008→2024 swing: -21.3pp toward R · 2008: -8.4pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+22.5 2016: R+16.7 2012: R+11.0 2008: R+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.24%
• Current HPI: 236.0823
• 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

3 events — show timeline

• 2025-12-11 Pending — Hive MLS
• 2025-10-27 Pending — Hive MLS
• 2025-10-15 Listed $92,000 Hive MLS

Property tax history

+3.3%/yr

Latest (2025): $1,192 · +5.6% YoY. Source: county tax records.