1011 E 6th St · Washington, NC 27889

$99,400

2 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 14 Days on market

Built 1947 10,019 sqft lot Est $167k · 41% 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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.3/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute, cute, cute! This adorable bungalow is almost too good to be true. Beautiful fenced in back yard with a great storage building is perfect for privacy. The large deck is fun for grilling out and getting the sunshine. New HVAC, newer roof, super updated bathroom and kitchen, replacement windows and more. You have nothing to do but move in! Everything is done and beautifully maintained for an unbelievable $76,900. Hurry. This one will not last.

Key facts

• 0.23 acre lot
• Built 1947
• Listed 13 days

Tags

• ORIGINAL CHARACTER AND CHARM

Property features AI

Finance

• Other: Zoning: R6
• HOA & community: No association amenities

Exterior

• Parking: On-site unpaved parking
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Single-family residence; One and one-half level; Entry level: 1
• Construction: Vinyl siding and frame construction; Shingle roof
• Exterior features: Covered porch, deck, and covered patio; Wood fencing; Open lot; Paved road frontage on city street and state road; Has view

Interior

• Bathrooms: 1 full bathroom
• Interior features: Total of 6 rooms; Crawl space basement; Has central air and other cooling; Has electric forced-air heating
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 9.9% vs local median 2.3% in Washington — 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 64/100 on livability (#341 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Beaufort County Schools (rural): math 39% / reading 42% proficiency, ranked #112 of 178 in NC (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Eastern Elementary (475 students, 99% FRL); P S Jones Middle (math 32% / reading 42%, grade F, #262 of 475 statewide, top 57%, 727 students, 100% FRL); Washington High (math 27% / reading 32%, grade F, #459 of 535 statewide, top 87%, 839 students, 99% FRL) — zoned schools average 99% FRL vs 67% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 162 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 216 units permitted in Beaufort County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $687 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Beaufort County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $79k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $99,400

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.23% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.02%
• DSCR: 1.58
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $167,310
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 E 8th St	0.41mi	2/1.0	1,162 (-1%)	10mo	$155,000	$133	72
1018 E 5th St	0.08mi	3/1.0 (+1)	1,108 (-5%)	14mo	$215,000	$194	71
820 Park Dr	0.36mi	2/2.0	1,127 (-4%)	5mo	$266,000	$236	69
603 E 8th St	0.40mi	2/1.0	1,142 (-2%)	11mo	$152,500	$134	68
707 E 5th St	0.26mi	3/1.0 (+1)	1,293 (+10%)	7mo	$172,000	$133	59
804 E 8th St	0.27mi	3/1.0 (+1)	1,120 (-4%)	22mo	$160,000	$143	58
1109 Pennsylvania Ave	0.17mi	3/1.0 (+1)	1,025 (-12%)	14mo	$146,000	$142	54
314 E 9th St	0.66mi	3/2.0 (+1)	1,232 (+5%)	5mo	$165,000	$134	47
532 E 2nd St	0.52mi	2/1.5	1,336 (+14%)	4mo	$265,000	$198	47
528 E 6th St	0.43mi	3/2.0 (+1)	1,297 (+11%)	10mo	$315,000	$243	44
306 E 10th St	0.72mi	3/2.0 (+1)	1,002 (-14%)	9mo	$165,000	$165	26

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,060
• Equity at exit: $14,821

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $18,582
• Equity at exit: $8,594

Cash invested: $27,832 (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 27889

• Home prices YoY: -24.4%
• Active inventory: 162
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$521
• Tax from tax record: −$103 /mo · $1,235/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $236

Break-even live

Break-even rent $927

Max offer price $99,400

Occupancy floor 76%

Sensitivity live

Price	-10% $292	-5% $264	+0% $236	+5% $207	+10% $179
Rent	-10% $139	-5% $187	+0% $236	+5% $284	+10% $332
Rate	-1.0pp $286	-0.5pp $261	base $236	+0.5pp $210	+1.0pp $184

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: $24,850
• Closing costs: $2,982
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
940 Runyon Rd Washington, NC	2.0–4.0	1.0–1.5	1081	$1,063	$0.98	21d	2	0.37mi
1509 N Respess St Washington, NC	3.0	2.0	1284	$1,650	$1.29	21d	1	1.20mi

Listing history 12 events

1. 2026-06-19
   days on market $99,400 Active 14 DOM
2. 2026-06-18
   days on market $99,400 Active 13 DOM
3. 2026-06-17
   days on market $99,400 Active 12 DOM
4. 2026-06-16
   days on market $99,400 Active 11 DOM
5. 2026-06-15
   days on market $99,400 Active 10 DOM
6. 2026-06-14
   days on market $99,400 Active 8 DOM
7. 2026-06-13
   days on market $99,400 Active 7 DOM
8. 2026-06-10
   days on market $99,400 Active 5 DOM
9. 2026-06-09
   days on market $99,400 Active 4 DOM
10. 2026-06-08
    days on market $99,400 Active 3 DOM
11. 2026-06-07
    remarks 407-char remark
12. 2026-06-07
    listed $99,400 Active 2 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: $1,235 · $103/mo
• Projected year-2 tax: $1,235 · $103/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,698
• − Mortgage interest: −$5,568
• − Property taxes: −$1,235
• − Insurance: −$1,294
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$2,892
• Taxable income: $1,357
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $2,501/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: Beaufort County Schools
• NCES district ID: 3700330
• Math proficiency: 39% ▬ 0.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $40,486
• Composite: 33.99/100
• National rank: #5320
• State rank: #112 of 178 in NC

Livability — Washington

• Score: 64/100
• State rank: #341
• US rank: #13721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, NC
• County: Beaufort County · 24,371 people
• City population: 24,371
• Metro: Washington, NC
• Population (ZIP): 24,371
• Household income: $53,179
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 857.0

Population outlook (Beaufort County) Hauer SSP2

• Today (2025): 47,069 people
• By 2030: 46,417 · -1.4%
• By 2040: 44,455 · -5.6%
• By 2050: 42,239 · -10.3%
• By 2075: 37,349 · -20.7%
• By 2100: 32,434 · -31.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 58% Black 27% Hispanic / Latino 10% Two or more races 7%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 8% Vietnamese 1%

Political lean MEDSL · Beaufort

• 2024 margin: Solid R (+31.1) · D 34.1% · R 65.2%
• 2008→2024 swing: -13.7pp toward R · 2008: -17.4pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+25.9 2016: R+24.5 2012: R+19.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.40%
• Current HPI: 291.9128
• Rent YoY: —
• Metro: Washington, 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

+52.9% since first listed

7 events — show timeline

• 2026-06-05 Listed $99,400 Hive MLS
• 2018-01-12 Sold (Public Records) $79,000 Public Records
• 2018-01-12 Sold (MLS) $78,900 Hive MLS
• 2017-10-23 Listed $76,900 Hive MLS
• 2012-05-15 Sold (Public Records) $62,500 Public Records
• 2012-05-15 Sold (MLS) $62,500 Hive MLS
• 2011-10-12 Listed $64,999 Hive MLS

Property tax history

+6.8%/yr

Latest (2025): $1,235 · +12.8% YoY. Source: county tax records.