112 N Secrest St · Kinston, NC 28501

$47,000

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 81 Days on market

Built 1952 9,148 sqft lot Est $74k · 37% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great corner lot in good neighborhood. Fantastic investment possibility with lots of potential. Additional lot beside this property for sale.

Key facts

• Metal roof
• Vacant lot
• 9,148 sq ft lot

Tags

• METAL ROOF
• VACANT LOT

Property features AI

Finance

• Other: Lot size approximately 0.21 acres; Living area reported as 884 square feet
• Financial info: No investor or income/expense details provided
• HOA & community: No association

Exterior

• Parking: Driveway (gravel, private, unpaved)
• Utilities: Public water; Public sewer; Electricity available; Phone available
• Home design: Single-story house; Entry level: One; Zoning: RA6
• Construction: Wood siding construction; Metal roof; Block foundation; Built as a house
• Exterior features: Covered front porch; Private yard; Cleared and grassed vegetation; City street frontage on a paved, publicly maintained road

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Combination flooring; Hardwood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating present (type: Other); No cooling
• Interior features: Combination and hardwood flooring; Fixer condition
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $47k).
• Recommended offer: $44k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.2% vs local median 3.8% in Kinston — 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 55/100 on livability (#640 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools F, crime F, amenities F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 95 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $325 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lenoir County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $8k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $47k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,180 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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. 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?
6. 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?
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: 2.08% ✓
• Cap rate: 18.23%
• Cash-on-cash: 42.64%
• DSCR: 2.90
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $74,256
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1309 E Caswell St	0.12mi	3/1.0 (+1)	900 (+2%)	8mo	$95,000	$106	79
1404 E Caswell St	0.08mi	3/1.0 (+1)	900 (+2%)	21mo	$108,000	$120	70
2116 Cedar Ln	0.47mi	3/1.0 (+1)	903 (+2%)	12mo	$100,000	$111	59
1106 Desmond St	0.34mi	2/1.0	1,002 (+13%)	16mo	$43,000	$43	48
1200 Desmond St	0.30mi	2/1.0	769 (-13%)	21mo	$64,500	$84	46
602 Meadows Ln	0.60mi	3/1.0 (+1)	970 (+10%)	6mo	$60,500	$62	45
505 Quinerly St	0.68mi	2/1.0	756 (-14%)	16mo	$12,500	$17	31
507 Quinerly St	0.68mi	2/1.0	756 (-14%)	16mo	$12,500	$17	30

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: 39.4%
• Equity multiple: 2.68×
• Total profit: $22,168
• Equity at exit: $7,008

10-year hold

• IRR: 45.8%
• Equity multiple: 5.38×
• Total profit: $57,659
• Equity at exit: $4,064

Cash invested: $13,160 (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 28501

• Home prices YoY: -18.9%
• Active inventory: 95
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $975 high
• Mortgage (P&I): −$246
• Tax from tax record: −$37 /mo · $443/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $468

Break-even live

Break-even rent $383

Max offer price $47,000

Occupancy floor 47%

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Wingate Dr Kinston, NC	2.0–3.0	1.0–1.5	930	$850	$0.91	20d	1	0.33mi
1204 Desmond St Kinston, NC	3.0	1.0	1100	$1,340	$1.22	20d	1	0.33mi
705 Harvey St Kinston, NC	2.0	1.0	896	$700	$0.78	20d	1	0.71mi
503 N Queen St Kinston, NC	1.0–2.0	2.0	759	$723	$0.95	13d	8	1.23mi
619 S Heritage St Kinston, NC	1.0–2.0	2.0	1025	$1,042	$1.02	13d	4	1.37mi

Listing history 16 events

1. 2026-04-17
   price $47,000
2. 2026-04-06
   price $55,000
3. 2026-04-03
   price $47,000
4. 2026-03-02
   listed $55,000 Active
5. 2026-01-12
   soldstatus $30,000
6. 2025-12-11
   status Pending
7. 2025-12-04
   status Pending
8. 2025-12-04
   historical
9. 2025-11-26
   price $33,900
10. 2025-11-11
    price $35,900
11. 2025-10-28
    price $36,900
12. 2025-10-14
    price $38,900
13. 2025-10-08
    price $39,900
14. 2025-10-03
    listed $44,900 Active
15. 2017-05-25
    soldstatus $8,000 141-char remark

    Show marketing remark (141 chars)

    Great corner lot in good neighborhood. Fantastic investment possibility with lots of potential. Additional lot beside this property for sale.

16. 2016-08-31
    listed $15,000 141-char remark

    Show marketing remark (141 chars)

    Great corner lot in good neighborhood. Fantastic investment possibility with lots of potential. Additional lot beside this property for sale.

ⓘ 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: $443 · $37/mo
• Projected year-2 tax: $443 · $37/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $11,705
• − Mortgage interest: −$2,633
• − Property taxes: −$443
• − Insurance: −$235
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$1,367
• Taxable income: $5,154
• Est. tax owed @ 24.0%: −$1,237
• After-tax cash flow: $4,374/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — Kinston

• Score: 55/100
• State rank: #640
• US rank: #23267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kinston, NC
• City population: 20,407
• Population (ZIP): 18,112

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.17%
• Current HPI: 193.3213
• 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

+213.3% since first listed

16 events — show timeline

• 2026-04-17 Price Changed $47,000 TMLS
• 2026-04-06 Price Changed $55,000 TMLS
• 2026-04-03 Price Changed $47,000 TMLS
• 2026-03-02 Listed $55,000 TMLS
• 2026-01-12 Sold (Public Records) $30,000 Public Records
• 2025-12-11 Pending — Hive MLS
• 2025-12-04 Pending — Hive MLS
• 2025-12-04 Listing Removed — Hive MLS
• 2025-11-26 Price Changed $33,900 Hive MLS
• 2025-11-11 Price Changed $35,900 Hive MLS
• 2025-10-28 Price Changed $36,900 Hive MLS
• 2025-10-14 Price Changed $38,900 Hive MLS
• 2025-10-08 Price Changed $39,900 Hive MLS
• 2025-10-03 Listed $44,900 Hive MLS
• 2017-05-25 Sold (MLS) $8,000 Hive MLS
• 2016-08-31 Listed $15,000 Hive MLS

Property tax history

-0.3%/yr

Latest (2025): $443 · +275.2% YoY. Source: county tax records.