412 Brick St · Henderson, NC 27536

$49,900

1 bd · 1.0 ba · 546 sqft · SingleFamily public records · 35 Days on market

Built 1955 3,920 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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

* * * INVESTOR opportunity in the heart of Henderson! Located within city limits, this 1-bedroom 1-bath property offers strong potential for rental income or a value-add project. Great opportunity for investors to add value & increase returns with light improvements. Conveniently located just MINUTES from downtown Henderson! * * * The vacant lot located on the adjacent lot is also available for purchase (MLS # 10159925) * * * Do not disturb tenants or walk through the properties without an approved appointment. Proper notice is required.

Key facts

• Value-add project
• 3,920 sq ft lot
• 2 parking spots

Tags

• VALUE-ADD PROJECT
• LOCATED WITHIN CITY LIMITS

Property features AI

Finance

• Other: Lot approximately 0.09 acres (about 3,920 sq ft)
• HOA & community: No association

Exterior

• Parking: Open parking for 2 cars
• Utilities: Public water; Public sewer
• Home design: Site-built single-story home; One level
• Construction: Vinyl siding construction; Built as site built
• Exterior features: Shingle roof; Other foundation

Interior

• Bedrooms: 1 bedroom (main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (natural gas); Window unit cooling
• Interior features: Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($731 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 4.1% in Henderson — 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 58/100 on livability (#583 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B; Watch: crime F, amenities F, commute F.
• Vance County Schools (rural): math 20% / reading 27% proficiency, ranked #166 of 178 in NC (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Vance County Middle School (math 13% / reading 17%, grade F, #459 of 475 statewide, top 97%, 797 students, 100% FRL); Vance County High School (math 12% / reading 27%, grade F, #499 of 535 statewide, top 94%, 958 students, 100% FRL) — zoned schools average 100% FRL vs 81% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 113 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 73 units permitted in Vance County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Vance County population projected at -23% 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 $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 42% 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 $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.47% ✓
• Cap rate: 12.23%
• Cash-on-cash: 21.20%
• DSCR: 1.94
• GRM: 5.7

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: 13.7%
• Equity multiple: 1.55×
• Total profit: $7,636
• Equity at exit: $7,440

10-year hold

• IRR: 22.5%
• Equity multiple: 2.93×
• Total profit: $26,900
• Equity at exit: $4,314

Cash invested: $13,972 (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 27536

• Active inventory: 113
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $731 high
• Mortgage (P&I): −$262
• Tax from tax record: −$48 /mo · $580/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$154
• Net cashflow: $247

Break-even live

Break-even rent $419

Max offer price $49,900

Occupancy floor 61%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Carter St Unit 104 Henderson, NC	2.0	1.0	672	$695	$1.03	14d	1	0.12mi
923 Arch St Unit 925 Henderson, NC	2.0	1.0	684	$705	$1.03	14d	1	0.17mi
125 Wyche St Henderson, NC	1.0	1.0	548	$776	$1.42	1d	4	0.52mi
527 Water St Henderson, NC	2.0	1.0	600	$695	$1.16	23d	1	0.71mi
623 Farrar Ave Henderson, NC	2.0	1.0	728	$695	$0.95	23d	1	0.83mi
543 Horner St Henderson, NC	2.0	1.0	700	$695	$0.99	20d	1	0.93mi
240 Crozier St Unit 242 Henderson, NC	2.0	1.0	672	$695	$1.03	14d	1	1.04mi
904 Burr St Henderson, NC	2.0	1.0	720	$725	$1.01	14d	1	1.07mi
992 Hughes St Henderson, NC	2.0	1.0	672	$705	$1.05	14d	1	1.08mi
976 Burr St Henderson, NC	2.0	1.0	750	$745	$0.99	14d	1	1.14mi
980 Burr St Henderson, NC	2.0	1.0	750	$745	$0.99	14d	1	1.15mi
1108 Johnson St Henderson, NC	1.0	1.0	450	$625	$1.39	4d	1	1.32mi
2008 Julia Ave Henderson, NC	2.0	1.0	650	$795	$1.22	23d	1	1.37mi

Listing history 15 events

1. 2026-06-18
   days on market $49,900 Active 35 DOM
2. 2026-06-17
   days on market $49,900 Active 34 DOM
3. 2026-06-16
   days on market $49,900 Active 33 DOM
4. 2026-06-15
   days on market $49,900 Active 32 DOM
5. 2026-06-13
   days on market $49,900 Active 30 DOM
6. 2026-06-09
   days on market $49,900 Active 26 DOM
7. 2026-06-08
   days on market $49,900 Active 25 DOM
8. 2026-06-07
   days on market $49,900 Active 24 DOM
9. 2026-06-03
   days on market $49,900 Active 20 DOM
10. 2026-06-02
    days on market $49,900 Active 19 DOM
11. 2026-06-01
    days on market $49,900 Active 18 DOM
12. 2026-05-31
    days on market $49,900 Active 17 DOM
13. 2026-05-14
    listed $49,900 Active
14. 2026-05-12
    historical
15. 2026-04-14
    listed $49,900 Active

ⓘ 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: $580 · $48/mo
• Projected year-2 tax: $580 · $48/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 42% 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: $8,774
• − Mortgage interest: −$2,795
• − Property taxes: −$580
• − Insurance: −$250
• − Repairs & maintenance: −$702
• − Management: −$702
• − Depreciation: −$1,452
• Taxable income: $2,294
• Est. tax owed @ 24.0%: −$551
• After-tax cash flow: $2,411/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: Vance County Schools
• NCES district ID: 3704650
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 27% ▼ -5.00%
• Median HH income: $34,323
• Composite: 19.29/100
• National rank: #8801
• State rank: #166 of 178 in NC

Livability — Henderson

• Score: 58/100
• State rank: #583
• US rank: #21468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Henderson, NC
• County: Vance County · 15,298 people
• City population: 15,298
• Metro: Henderson, NC
• Population (ZIP): 15,298
• Household income: $39,985
• Rent vs Own: 62.3% rent · 37.7% own
• Severe rent burden: 1110.0

Population outlook (Vance County) Hauer SSP2

• Today (2025): 41,985 people
• By 2030: 40,286 · -4.0%
• By 2040: 36,372 · -13.4%
• By 2050: 32,466 · -22.7%
• By 2075: 24,229 · -42.3%
• By 2100: 17,784 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 60% White 26% Hispanic / Latino 12% Two or more races 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Serbian 1% Italian 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Arabic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Vance

• 2024 margin: D (+13.3) · D 56.3% · R 42.9%
• 2008→2024 swing: -13.3pp toward R · 2008: 26.6pp · 2024: 13.3pp
• All cycles: 2024: D+13.3 2020: D+19.2 2016: D+24.6 2012: D+28.3 2008: D+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.23%
• Current HPI: 198.8762
• Rent YoY: —
• Metro: Henderson, 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

+0.0% since first listed

3 events — show timeline

• 2026-05-14 Listed $49,900 TMLS
• 2026-05-12 Listing Removed — TMLS
• 2026-04-14 Listed $49,900 TMLS

Property tax history

+11.1%/yr

Latest (2025): $580 · -20.8% YoY. Source: county tax records.