623 S Church St · Enfield, NC 27823

$35,000

3 bd · 1.0 ba · 1,163 sqft · SingleFamily public records · 16 Days on market

Built 1956 8,276 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
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

This property is an excellent investment opportunity in a charming small city and is located in a highly desirable neighborhood. The home requires a full rehabilitation and is being sold strictly ''as is, '' making it ideal for investors, contractors, or buyers looking to customize a property to their vision.

Key facts

• 8,276 sq ft lot
• Built 1956
• Listed 15 days

Property features AI

Finance

• Other: Zoning: R
• HOA & community: Association fee billed annually

Exterior

• Parking: Unpaved parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story, entry level is ground floor
• Construction: Frame construction; Shingle roof; Built with crawl space foundation
• Exterior features: Rear porch; Shed(s) on the property; Corner lot; City street and state road frontage; Has a view

Interior

• Kitchen: No kitchen appliances specified
• Bedrooms: Information about bedroom locations not provided
• Flooring: Other flooring type (not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: No built-in appliances listed; Crawl space basement; Total of 4 rooms
• Laundry & utility: No laundry hookups or appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#556 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A, crime B; Watch: amenities F, commute F, employment F.
• Halifax County Schools (rural): math 6% / reading 24% proficiency, ranked #177 of 178 in NC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Inborden Elementary S.T.E.A.M. Academy (math 12% / reading 17%, grade F, #1,331 of 1,410 statewide, top 96%, 206 students, 98% FRL); Enfield Middle S.T.E.A.M. Academy (math 2% / reading 15%, grade F, #475 of 475 statewide, top 100%, 210 students, 99% FRL) — zoned schools average 99% FRL vs 82% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 55 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($242 loan paydown + $2k appreciation (5.8% local appreciation)).
• Halifax County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — 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 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. 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.
5. 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.
6. 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: 2.89% ✓
• Cap rate: 26.22%
• Cash-on-cash: 71.16%
• DSCR: 4.17
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $147,701
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 Mcgwigan St	0.27mi	2/1.0 (-1)	1,000 (-14%)	21mo	$60,000	$60	41
104 Busbee Ct	0.75mi	3/2.0	1,025 (-12%)	19mo	$130,000	$127	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 78.2%
• Equity multiple: 5.76×
• Total profit: $46,618
• Equity at exit: $21,468

10-year hold

• IRR: 75.6%
• Equity multiple: 12.05×
• Total profit: $108,283
• Equity at exit: $38,478

Cash invested: $9,800 (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 27823

• Home prices YoY: 3.1%
• Active inventory: 28
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,012 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$20 /mo · $242/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $581

Break-even live

Break-even rent $276

Max offer price $35,000

Occupancy floor 38%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $35,000 Active 16 DOM
2. 2026-06-18
   days on market $35,000 Active 15 DOM
3. 2026-06-17
   price $35,000 Active 14 DOM
4. 2026-06-17
   days on market $45,000 Active 14 DOM
5. 2026-06-16
   days on market $45,000 Active 13 DOM
6. 2026-06-15
   days on market $45,000 Active 12 DOM
7. 2026-06-14
   days on market $45,000 Active 10 DOM
8. 2026-06-12
   days on market $45,000 Active 9 DOM
9. 2026-06-09
   days on market $45,000 Active 6 DOM
10. 2026-06-08
    days on market $45,000 Active 5 DOM
11. 2026-06-07
    days on market $45,000 Active 4 DOM
12. 2026-06-07
    remarks 310-char remark
13. 2026-06-07
    listed $45,000 Active 3 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: $242 · $20/mo
• Projected year-2 tax: $287 · $24/mo
• Expected delta: +$45/yr (+$4/mo · 18.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,143
• − Mortgage interest: −$1,961
• − Property taxes: −$242
• − Insurance: −$175
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$1,018
• Taxable income: $6,805
• Est. tax owed @ 24.0%: −$1,633
• After-tax cash flow: $5,341/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: Halifax County Schools
• NCES district ID: 3701950
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 24% ▼ -1.00%
• Median HH income: $29,104
• Composite: 11.7/100
• National rank: #9690
• State rank: #177 of 178 in NC

Livability — Enfield

• Score: 59/100
• State rank: #556
• US rank: #20483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enfield, NC
• Population (ZIP): 6,498

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 47,976 people
• By 2030: 45,450 · -5.3%
• By 2040: 39,980 · -16.7%
• By 2050: 34,863 · -27.3%
• By 2075: 25,577 · -46.7%
• By 2100: 18,365 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (82%)
• Race & ethnicity: Black 82% White 12% Two or more races 3% Native American 2% Hispanic / Latino 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 0%

Political lean MEDSL · Halifax

• 2024 margin: D (+17.7) · D 58.5% · R 40.9%
• 2008→2024 swing: -10.6pp toward R · 2008: 28.2pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+21.2 2016: D+26.9 2012: D+32.0 2008: D+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.76%
• Current HPI: 188.4289
• 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

+13.9% since first listed

2 events — show timeline

• 2026-06-03 Listed $45,000 Hive MLS
• 1996-11-07 Sold (Public Records) $39,500 Public Records

Property tax history

+1.8%/yr

Latest (2022): $242 · +0.0% YoY. Source: county tax records.