510 Thompson St · Kinston, NC 28501

$94,900

3 bd · 1.0 ba · 1,540 sqft · SingleFamily public records · 188 Days on market

Built 1901 Est $82k · 16% over

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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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.2/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investment opportunity to flip or buy and hold. This could easily be converted into a duplex. Has outside access to the upstairs. It could also be converted into a 5 bedroom w/ the addition of closets in 2 rooms. Don't miss out on this!!! It won't last long! New flooring. Will need repairs.

Key facts

• Recent updates
• New cabinets
• New countertop

Tags

• RECENT UPDATES
• FRESH INTERIOR PAINT
• NEW CABINETS
• NEW COUNTERTOP
• NEW STAINLESS STEEL FRIDGE
• NEW RECESS LIGHTING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.8% in Kinston — 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 (#640 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools F, crime F, amenities F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 95 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lenoir County population projected at -18% 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 $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $22k; list at $95k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 80% 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 $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 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 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.21% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.59%
• DSCR: 1.65
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $81,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2012 Hwy 258 N	0.34mi	3/2.5	1,456 (-6%)	2mo	$195,000	$134	68
311 E Capitola Ave	0.40mi	3/1.0	1,560 (+1%)	17mo	$35,000	$22	65
805 N Mclewean St	0.44mi	3/1.0	1,470 (-4%)	11mo	$23,000	$16	63
600 Liberty Hill Rd	0.57mi	3/2.0	1,525 (-1%)	10mo	$115,000	$75	59
1217 Virginia Ave	0.71mi	2/1.5 (-1)	1,574 (+2%)	3mo	$83,000	$53	54
204 Wilson Ave	0.73mi	3/2.0	1,582 (+3%)	6mo	$179,999	$114	53
1203 Sycamore Rd	0.55mi	3/3.0	1,486 (-4%)	10mo	$174,000	$117	52
113 E Capitola Ave	0.51mi	3/1.5	1,757 (+14%)	6mo	$129,900	$74	46
904 Liberty Hill Rd	0.52mi	3/1.0	1,724 (+12%)	12mo	$80,000	$46	45
201 Park Ave	0.52mi	3/2.0	1,768 (+15%)	3mo	$85,000	$48	45
103 Summit Ave	0.63mi	3/1.5	1,686 (+10%)	12mo	$58,000	$34	43
1107 E Bright St	0.72mi	3/—	1,395 (-9%)	14mo	$25,000	$18	39

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: 1.04×
• Total profit: $979
• Equity at exit: $14,150

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $21,957
• Equity at exit: $8,205

Cash invested: $26,572 (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 28501

• Home prices YoY: -18.9%
• Active inventory: 95
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$48 /mo · $582/yr
• Insurance: −$40
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $257

Break-even live

Break-even rent $826

Max offer price $94,900

Occupancy floor 73%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1204 Desmond St Kinston, NC	3.0	1.0	1100	$1,340	$1.22	20d	1	0.79mi
619 S Heritage St Kinston, NC	1.0–2.0	2.0	1025	$1,042	$1.02	13d	4	0.93mi
100 Wingate Dr Kinston, NC	2.0–3.0	1.0–1.5	930	$975	$1.05	20d	1	1.13mi

Listing history 27 events

1. 2026-06-19
   days on market $94,900 Active 188 DOM
2. 2026-06-18
   days on market $94,900 Active 187 DOM
3. 2026-06-17
   days on market $94,900 Active 186 DOM
4. 2026-06-16
   days on market $94,900 Active 185 DOM
5. 2026-06-15
   days on market $94,900 Active 184 DOM
6. 2026-06-14
   days on market $94,900 Active 182 DOM
7. 2026-06-12
   days on market $94,900 Active 181 DOM
8. 2026-06-09
   days on market $94,900 Active 178 DOM
9. 2026-06-08
   days on market $94,900 Active 177 DOM
10. 2026-06-07
    days on market $94,900 Active 176 DOM
11. 2026-06-07
    days on market $94,900 Active 175 DOM
12. 2026-06-04
    days on market $94,900 Active 172 DOM
13. 2026-06-02
    days on market $94,900 Active 171 DOM
14. 2026-06-01
    days on market $94,900 Active 170 DOM
15. 2026-05-31
    days on market $94,900 Active 169 DOM
16. 2026-05-31
    days on market $94,900 Active 168 DOM
17. 2026-01-02
    price $84,900
18. 2025-12-24
    price $89,900
19. 2025-12-18
    listed $94,900 Active
20. 2025-12-12
    listed $94,900 Active
21. 2024-06-11
    status Pending 301-char remark

    Show marketing remark (301 chars)

    Excellent investment opportunity to flip or buy and hold. This could easily be converted into a duplex. Has outside access to the upstairs. It could also be converted into a 5 bedroom w/ the addition of closets in 2 rooms. Don't miss out on this!!! It won't last long! New flooring. Will need repairs.

22. 2024-06-11
    soldstatus $22,000 Closed 301-char remark

    Show marketing remark (301 chars)

    Excellent investment opportunity to flip or buy and hold. This could easily be converted into a duplex. Has outside access to the upstairs. It could also be converted into a 5 bedroom w/ the addition of closets in 2 rooms. Don't miss out on this!!! It won't last long! New flooring. Will need repairs.

23. 2024-05-24
    price $31,998 301-char remark

    Show marketing remark (301 chars)

    Excellent investment opportunity to flip or buy and hold. This could easily be converted into a duplex. Has outside access to the upstairs. It could also be converted into a 5 bedroom w/ the addition of closets in 2 rooms. Don't miss out on this!!! It won't last long! New flooring. Will need repairs.

24. 2024-05-23
    price $31,999 301-char remark

    Show marketing remark (301 chars)

    Excellent investment opportunity to flip or buy and hold. This could easily be converted into a duplex. Has outside access to the upstairs. It could also be converted into a 5 bedroom w/ the addition of closets in 2 rooms. Don't miss out on this!!! It won't last long! New flooring. Will need repairs.

25. 2024-05-21
    price $32,000 301-char remark

    Show marketing remark (301 chars)

    Excellent investment opportunity to flip or buy and hold. This could easily be converted into a duplex. Has outside access to the upstairs. It could also be converted into a 5 bedroom w/ the addition of closets in 2 rooms. Don't miss out on this!!! It won't last long! New flooring. Will need repairs.

26. 2024-05-20
    price $35,000 301-char remark

    Show marketing remark (301 chars)

    Excellent investment opportunity to flip or buy and hold. This could easily be converted into a duplex. Has outside access to the upstairs. It could also be converted into a 5 bedroom w/ the addition of closets in 2 rooms. Don't miss out on this!!! It won't last long! New flooring. Will need repairs.

27. 2024-05-17
    listed $40,000 Active 301-char remark

    Show marketing remark (301 chars)

    Excellent investment opportunity to flip or buy and hold. This could easily be converted into a duplex. Has outside access to the upstairs. It could also be converted into a 5 bedroom w/ the addition of closets in 2 rooms. Don't miss out on this!!! It won't last long! New flooring. Will need repairs.

ⓘ 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: $582 · $48/mo
• Projected year-2 tax: $778 · $65/mo
• Expected delta: +$196/yr (+$16/mo · 33.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 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: $13,804
• − Mortgage interest: −$5,316
• − Property taxes: −$582
• − Insurance: −$1,272
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$2,761
• Taxable income: $1,665
• Est. tax owed @ 24.0%: −$399
• After-tax cash flow: $2,679/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — Kinston

• Score: 55/100
• State rank: #640
• US rank: #23267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kinston, NC
• City population: 20,407
• Population (ZIP): 18,112

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.17%
• Current HPI: 193.3213
• 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

+112.2% since first listed

11 events — show timeline

• 2026-01-02 Price Changed $84,900 Hive MLS
• 2025-12-24 Price Changed $89,900 Hive MLS
• 2025-12-18 Listed $94,900 Hive MLS
• 2025-12-12 Listed $94,900 Fizber.com
• 2024-06-11 Pending — Hive MLS
• 2024-06-11 Sold (MLS) $22,000 Hive MLS
• 2024-05-24 Price Changed $31,998 Hive MLS
• 2024-05-23 Price Changed $31,999 Hive MLS
• 2024-05-21 Price Changed $32,000 Hive MLS
• 2024-05-20 Price Changed $35,000 Hive MLS
• 2024-05-17 Listed $40,000 Hive MLS

Property tax history

+14.2%/yr

Latest (2025): $582 · +436.3% YoY. Source: county tax records.