550 Phillips Rd · Selma, NC 27576

$168,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 39 Days on market

Built 1990 1.00 ac lot

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Why this score? — see what drove the C 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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +3.5/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to sell! ''AS IS'' Discover peaceful country living at 550 Phillips Road -- a charming home surrounded by open space and Carolina skies. This property offers a comfortable layout with bright living areas, a welcoming kitchen, and plenty of outdoor room for gardening, entertaining, or simply relaxing. Conveniently located near Selma and Clayton with easy access to Hwy 70 and I-95, you'll enjoy the best of rural tranquility and modern convenience.

Key facts

• Welcoming kitchen
• Easy access
• Open space

Tags

• OPEN SPACE
• BRIGHT LIVING AREAS
• WELCOMING KITCHEN
• OUTDOOR ROOM
• EASY ACCESS

Property features AI

Finance

• Other: Directions provided to property; Located in Johnston County
• Financial info: Annual tax available (not included per instructions)
• HOA & community: No homeowners association

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Public water; Septic system (septic tank) connected
• Home design: Manufactured house; One story, entry level 1; Rural/agricultural zoning (RAG)
• Construction: Vinyl siding; Shingle roof; Other type foundation; Built as a manufactured home
• Exterior features: 1.0 acre lot; County road frontage; Publicly maintained road access

Interior

• Kitchen: Kitchen with laundry area
• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning with electric heat pump
• Interior features: Fixer condition; Shed(s) on the property
• Laundry & utility: Gas dryer hookup; Washer/dryer area located in the kitchen (inside)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $168k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $163k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 2.6% in Selma — 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 (#641 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety B+, housing B; Watch: crime F, amenities F, commute F.
• Johnston County Public Schools (rural): math 39% / reading 42% proficiency, ranked #105 of 178 in NC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Corinth Holders High (math 50% / reading 61%, grade C, #265 of 535 statewide, top 50%, 2,219 students, 32% FRL).
• Zoned-school proficiency averages 56% at this address vs 40% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Johnston County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 274 active listings in the ZIP; 2,783 units permitted in Johnston County in 2024 (6 in 5+ unit buildings).
• This rent runs 31% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Johnston County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $19k; list at $168k implies a 784% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 74% 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 $162,960 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.02% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-4,630
• Equity at exit: $25,049

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $24,844
• Equity at exit: $14,526

Cash invested: $47,040 (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 27576

• Home prices YoY: -23.1%
• Active inventory: 274
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,707 medium
• Mortgage (P&I): −$881
• Tax from tax record: −$42 /mo · $499/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $356

Break-even live

Break-even rent $1,256

Max offer price $168,000

Occupancy floor 74%

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $168,000 Active 39 DOM
2. 2026-06-17
   days on market $168,000 Active 38 DOM
3. 2026-06-16
   days on market $168,000 Active 37 DOM
4. 2026-06-15
   days on market $168,000 Active 36 DOM
5. 2026-06-13
   days on market $168,000 Active 34 DOM
6. 2026-06-13
   days on market $168,000 Active 33 DOM
7. 2026-06-10
   price $168,000 Active 30 DOM
8. 2026-06-09
   days on market $190,000 Active 30 DOM
9. 2026-06-08
   days on market $190,000 Active 29 DOM
10. 2026-06-07
    days on market $190,000 Active 28 DOM
11. 2026-06-05
    days on market $190,000 Active 25 DOM
12. 2026-06-03
    days on market $190,000 Active 24 DOM
13. 2026-06-02
    days on market $190,000 Active 23 DOM
14. 2026-06-01
    days on market $190,000 Active 22 DOM
15. 2026-05-31
    days on market $190,000 Active 21 DOM
16. 2026-05-10
    listed $190,000 Active
17. 2003-05-01
    soldstatus $19,000

ⓘ 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: $499 · $42/mo
• Projected year-2 tax: $1,378 · $115/mo
• Expected delta: +$879/yr (+$73/mo · 176.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,484
• − Mortgage interest: −$9,411
• − Property taxes: −$499
• − Insurance: −$840
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$4,887
• Taxable income: $1,570
• Est. tax owed @ 24.0%: −$377
• After-tax cash flow: $3,895/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: Johnston County Public Schools
• NCES district ID: 3702370
• Math proficiency: 39% ▲ 4.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $50,912
• Composite: 34.99/100
• National rank: #5052
• State rank: #105 of 178 in NC

Livability — Selma

• Score: 55/100
• State rank: #641
• US rank: #23364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Johnston County · 175,441 people
• City population: 21,624
• Metro: Raleigh-Cary, NC
• Population (ZIP): 21,624
• Household income: $66,831
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 649.0

Population outlook (Johnston County) Hauer SSP2

• Today (2025): 222,440 people
• By 2030: 240,227 · +8.0%
• By 2040: 274,616 · +23.5%
• By 2050: 304,915 · +37.1%
• By 2075: 369,507 · +66.1%
• By 2100: 406,280 · +82.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 27% Black 21% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 18% Puerto Rican 3%
• Common ancestry: Slovak 1% Serbian 1% Iranian 1%
• Foreign-born: 12% · Canada
• Languages at home: 76% English-only · Spanish 23% German/W. Germanic 1%

Political lean MEDSL · Johnston

• 2024 margin: Strong R (+21.5) · D 38.7% · R 60.2% · Other 1.1%
• 2008→2024 swing: +2.2pp toward D · 2008: -23.7pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+24.3 2016: R+30.7 2012: R+27.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.48%
• Current HPI: 234.1407
• Rent YoY: —
• 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

+900.0% since first listed

2 events — show timeline

• 2026-05-10 Listed $190,000 TMLS
• 2003-05-01 Sold (Public Records) $19,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $499 · +69.0% YoY. Source: county tax records.