1020 S Pollock St · Selma, NC 27576

$189,900

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 49 Days on market

Built 1940 5,662 sqft lot Est $176k · 8% over

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Why this score? — see what drove the D- 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 +15.2/30.0
• DSCR +4.7/10.0
• ARV discount +4.0/15.0
• 1% rule +3.8/10.0
• 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 MLS

CUTE AS A BUTTON & FULL OF OPPORTUNITY!! Charming all-brick ranch offering 3 bedrooms and 1 bath in MOVE-IN READY condition - perfect for homeowners or investors alike! This well-maintained home features a bright and SUNNY kitchen with breakfast bar, a gas range, and plenty of character throughout. Enjoy the convenience of a carport, pull-down attic for additional storage, and a gas pack heating system with natural gas. Connected to city water and sewer for easy living! Detached Storage! LOCATION, LOCATION, LOCATION! Situated just to the right of Ormond Plaza with nearby restaurants and businesses, this property offers EXCELLENT COMMERCIAL POTENTIAL in the rapidly growing Selma area-while currently being used as a residential home. Easy commute to Raleigh via Highway 70-making this a prime spot for both convenience and future growth! Whether you're looking for a cozy place to call home or an investment with upside potential, this one has SO MUCH TO OFFER!!

Key facts

• 5,662 sq ft lot
• Parking
• Built 1940

Property features AI

Finance

• Other: Lot measures approximately 0.13 acres (dimensions ~75 x 80)
• HOA & community: No association

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Site-built single-story home; One level
• Construction: Brick / brick veneer exterior; Shingle roof; Built on standard foundation
• Exterior features: Outbuilding

Interior

• Kitchen: Gas range
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Hardwood; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air gas heating (natural gas); Gas pack; Central air conditioning
• Interior features: Ceiling fans; High-speed internet; Central living area; Level flooring
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $65 ($783/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (12.3% below list).
• Recommended offer: $166k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Smithfield-Selma High (math 25% / reading 37%, grade F, #454 of 535 statewide, top 85%, 1,503 students, 69% FRL) — zoned schools average 69% FRL vs 41% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 274 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,783 units permitted in Johnston County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 49 days — a 3% lower offer ($184k) 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% 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 $166,467 (12.3% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.47%
• DSCR: 1.07
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $176,256
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1020 S Pollock St	0.00mi	3/1.0	1,079 (-1%)	0mo	$175,000	$162	98
403 W Noble St	0.58mi	3/1.0	1,068 (-2%)	1mo	$211,000	$198	69
210 S Brevard St	0.65mi	3/1.0	1,058 (-3%)	1mo	$220,000	$208	64
607 S Webb St	0.47mi	3/1.0	1,089 (+0%)	22mo	$120,000	$110	59
208 S Webb St	0.68mi	3/1.0	1,027 (-6%)	2mo	$215,000	$209	57
313 S Ethel St	0.60mi	3/1.5	1,024 (-6%)	3mo	$169,900	$166	57
609 W Preston St	0.50mi	3/1.0	1,218 (+12%)	10mo	$125,000	$103	49
209 S Ethel St	0.67mi	3/1.0	1,055 (-3%)	22mo	$235,000	$223	46
820 Southern St	0.67mi	2/1.0 (-1)	1,024 (-6%)	13mo	$150,000	$146	43
208 S Ethel St	0.68mi	2/1.0 (-1)	950 (-13%)	2mo	$88,000	$93	40
206 S Ethel St	0.69mi	2/1.0 (-1)	950 (-13%)	2mo	$88,000	$93	40
403 S Webb St	0.58mi	2/1.5 (-1)	925 (-15%)	11mo	$150,000	$162	32

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-26,627
• Equity at exit: $28,315

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-17,886
• Equity at exit: $16,419

Cash invested: $53,172 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,665 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$175 /mo · $2,098/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $65

Break-even live

Break-even rent $1,582

Max offer price $189,900

Occupancy floor 91%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Reid Cir Selma, NC	3.0	2.0	1092	$1,580	$1.45	12d	1	0.24mi
1013 W Oak St Selma, NC	2.0	1.0	992	$1,300	$1.31	23d	1	1.05mi
114 Boykin Ave Selma, NC	3.0	3.0	1238	$1,699	$1.37	23d	1	1.33mi
408 Merriman Dr Selma, NC	3.0	2.5	1263	$1,650	$1.31	4d	1	1.38mi

Listing history 4 events

1. 2026-05-21
   historical Active Under Contract 976-char remark

   Show marketing remark (976 chars)

   CUTE AS A BUTTON & FULL OF OPPORTUNITY!! Charming all-brick ranch offering 3 bedrooms and 1 bath in MOVE-IN READY condition - perfect for homeowners or investors alike! This well-maintained home features a bright and SUNNY kitchen with breakfast bar, a gas range, and plenty of character throughout. Enjoy the convenience of a carport, pull-down attic for additional storage, and a gas pack heating system with natural gas. Connected to city water and sewer for easy living! Detached Storage! LOCATION, LOCATION, LOCATION! Situated just to the right of Ormond Plaza with nearby restaurants and businesses, this property offers EXCELLENT COMMERCIAL POTENTIAL in the rapidly growing Selma area-while currently being used as a residential home. Easy commute to Raleigh via Highway 70-making this a prime spot for both convenience and future growth! Whether you're looking for a cozy place to call home or an investment with upside potential, this one has SO MUCH TO OFFER!!

2. 2026-05-21
   status Pending

   Show marketing remark (976 chars)

   CUTE AS A BUTTON & FULL OF OPPORTUNITY!! Charming all-brick ranch offering 3 bedrooms and 1 bath in MOVE-IN READY condition - perfect for homeowners or investors alike! This well-maintained home features a bright and SUNNY kitchen with breakfast bar, a gas range, and plenty of character throughout. Enjoy the convenience of a carport, pull-down attic for additional storage, and a gas pack heating system with natural gas. Connected to city water and sewer for easy living! Detached Storage! LOCATION, LOCATION, LOCATION! Situated just to the right of Ormond Plaza with nearby restaurants and businesses, this property offers EXCELLENT COMMERCIAL POTENTIAL in the rapidly growing Selma area-while currently being used as a residential home. Easy commute to Raleigh via Highway 70-making this a prime spot for both convenience and future growth! Whether you're looking for a cozy place to call home or an investment with upside potential, this one has SO MUCH TO OFFER!!

3. 2026-04-02
   listed $189,900 Active 976-char remark

   Show marketing remark (976 chars)

   CUTE AS A BUTTON & FULL OF OPPORTUNITY!! Charming all-brick ranch offering 3 bedrooms and 1 bath in MOVE-IN READY condition - perfect for homeowners or investors alike! This well-maintained home features a bright and SUNNY kitchen with breakfast bar, a gas range, and plenty of character throughout. Enjoy the convenience of a carport, pull-down attic for additional storage, and a gas pack heating system with natural gas. Connected to city water and sewer for easy living! Detached Storage! LOCATION, LOCATION, LOCATION! Situated just to the right of Ormond Plaza with nearby restaurants and businesses, this property offers EXCELLENT COMMERCIAL POTENTIAL in the rapidly growing Selma area-while currently being used as a residential home. Easy commute to Raleigh via Highway 70-making this a prime spot for both convenience and future growth! Whether you're looking for a cozy place to call home or an investment with upside potential, this one has SO MUCH TO OFFER!!

4. 2026-04-02
   listed $189,900 Active

   Show marketing remark (976 chars)

   CUTE AS A BUTTON & FULL OF OPPORTUNITY!! Charming all-brick ranch offering 3 bedrooms and 1 bath in MOVE-IN READY condition - perfect for homeowners or investors alike! This well-maintained home features a bright and SUNNY kitchen with breakfast bar, a gas range, and plenty of character throughout. Enjoy the convenience of a carport, pull-down attic for additional storage, and a gas pack heating system with natural gas. Connected to city water and sewer for easy living! Detached Storage! LOCATION, LOCATION, LOCATION! Situated just to the right of Ormond Plaza with nearby restaurants and businesses, this property offers EXCELLENT COMMERCIAL POTENTIAL in the rapidly growing Selma area-while currently being used as a residential home. Easy commute to Raleigh via Highway 70-making this a prime spot for both convenience and future growth! Whether you're looking for a cozy place to call home or an investment with upside potential, this one has SO MUCH TO OFFER!!

ⓘ 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: $2,098 · $175/mo
• Projected year-2 tax: $2,098 · $175/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,976
• − Mortgage interest: −$10,637
• − Property taxes: −$2,098
• − Insurance: −$950
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$5,524
• Taxable loss: −$2,429
• Est. tax savings @ 24.0%: +$583
• After-tax cash flow: $1,366/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

• Census place: Selma, NC
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-21 Contingent — Hive MLS
• 2026-05-21 Pending — TMLS
• 2026-04-02 Listed $189,900 TMLS
• 2026-04-02 Listed $189,900 Hive MLS

Property tax history

+6.7%/yr

Latest (2025): $2,098 · +113.9% YoY. Source: county tax records.