306 Johnson Ln · Winterville, NC 28590

$235,000

3 bd · 2.0 ba · 1,206 sqft · SingleFamily public records · 1 Days on market

Built 2004 8,276 sqft lot Est $217k · 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 +13.8/30.0
• DSCR +4.2/10.0
• ARV discount +3.8/15.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• 1% rule +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stunning Move In Ready 3 bedroom and 2 bath home in Bullock Farm. New carpet in All 3 Bedrooms, Hardwood Style Flooring throughout Family Room, New Paint make this house picture perfect and ready for a new family. Spacious kitchen with eat-in-area that's great for entertaining. Family Rm has tons of Natural Light flowing in the many windows. Fireplace with Large Custom Mantle. Huge master bedroom with walk-in closets, New Carpet, Great Master Bath w Double Vanity. Tons of storage throughout the home. Laundry area located just off the bedrooms. Large yard with vinyl picket fencing on a massive lot. Located in the heart of Winterville, Great Schools, close to Greenville, minutes from the hospital, ECU campus, and shopping!! Home has been Meticulously cared for!

Key facts

• 8,276 sq ft lot
• Built 2004

Property features AI

Finance

• Other: Zoning: R8
• HOA & community: No association amenities

Exterior

• Parking: Concrete parking
• Utilities: Public water; Public sewer; Sewer connected; Water connected
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built as a residential single family home
• Exterior features: Covered patio; Patio; Storm door(s); Partial fenced yard; Corner lot; Has a view

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher; Microwave
• Bedrooms: Master downstairs
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric heating; Heat pump
• Interior features: Master bedroom on the main level; Walk-in closet(s); Vaulted ceilings; Ceiling fan(s); Window coverings
• Laundry & utility: Laundry located in hall; Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $21 ($248/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 $187k (20.4% below list).
• Recommended offer: $187k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.1% in Winterville — 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 76/100 on livability (#33 in NC, #3,282 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Pitt County Schools (rural): math 41% / reading 44% proficiency, ranked #100 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: W H Robinson Elementary (math 46% / reading 51%, grade D, #472 of 1,410 statewide, top 34%, 616 students, 59% FRL); A G Cox Middle (math 37% / reading 49%, grade D-, #191 of 475 statewide, top 41%, 865 students, 52% FRL); South Central (math 42% / reading 51%, grade D-, #344 of 535 statewide, top 64%, 1,675 students, 55% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: Rents rising (+1.4%/yr); 283 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Pitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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 $136k; list at $235k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $186,982 (20.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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?
4. 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.
5. 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.
6. 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: 0.80% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $217,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 Johnson Ln	0.05mi	3/2.0	1,238 (+3%)	0mo	$249,000	$201	93
2613 Garland Rd	0.05mi	3/2.0	1,235 (+2%)	12mo	$237,000	$192	84
2527 Jones St	0.15mi	3/2.0	1,290 (+7%)	9mo	$268,000	$208	74
2519 Jones St	0.15mi	3/2.0	1,290 (+7%)	11mo	$268,000	$208	72
2335 Wedgewood Dr	0.43mi	3/2.0	1,253 (+4%)	6mo	$225,000	$180	69
2453 Cannon Rd	0.43mi	3/2.0	1,264 (+5%)	11mo	$135,000	$107	63
2408 Jones St	0.37mi	3/2.0	1,280 (+6%)	11mo	$208,000	$163	63
2414 Glenda St	0.32mi	4/2.0 (+1)	1,326 (+10%)	3mo	$105,000	$79	61
2524 Mill St	0.42mi	3/2.0	1,334 (+11%)	13mo	$93,000	$70	52
2623 Rosewood Dr	0.72mi	3/2.0	1,374 (+14%)	7mo	$252,400	$184	37
2619 Jasmine Dr	0.69mi	3/2.0	1,369 (+14%)	10mo	$235,000	$172	37
2631 Jasmine Dr	0.71mi	3/2.0	1,359 (+13%)	15mo	$226,600	$167	33

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 · 1.43% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.40×
• Total profit: $-39,749
• Equity at exit: $35,039

10-year hold

• IRR: -12.3%
• Equity multiple: 0.32×
• Total profit: $-44,787
• Equity at exit: $20,319

Cash invested: $65,800 (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 28590

• Home prices YoY: -23.7%
• Rents YoY: 1.4%
• Active inventory: 283
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,870 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$126 /mo · $1,515/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $21

Break-even live

Break-even rent $1,844

Max offer price $235,000

Occupancy floor 94%

Sensitivity live

Price	-10% $154	-5% $87	+0% $21	+5% $-46	+10% $-112
Rent	-10% $-127	-5% $-53	+0% $21	+5% $94	+10% $168
Rate	-1.0pp $139	-0.5pp $80	base $21	+0.5pp $-40	+1.0pp $-102

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2629 Virginia Mae Ln Winterville, NC	2.0	2.5	1110	$1,600	$1.44	23d	1	0.61mi
720 Carrington Ln Winterville, NC	3.0	2.0	1304	$1,950	$1.50	23d	1	0.95mi

Listing history 8 events

1. 2026-05-16
   status Pending
2. 2026-05-15
   listed $235,000 Active
3. 2018-09-26
   soldstatus $136,500 769-char remark

   Show marketing remark (769 chars)

   Stunning Move In Ready 3 bedroom and 2 bath home in Bullock Farm. New carpet in All 3 Bedrooms, Hardwood Style Flooring throughout Family Room, New Paint make this house picture perfect and ready for a new family. Spacious kitchen with eat-in-area that's great for entertaining. Family Rm has tons of Natural Light flowing in the many windows. Fireplace with Large Custom Mantle. Huge master bedroom with walk-in closets, New Carpet, Great Master Bath w Double Vanity. Tons of storage throughout the home. Laundry area located just off the bedrooms. Large yard with vinyl picket fencing on a massive lot. Located in the heart of Winterville, Great Schools, close to Greenville, minutes from the hospital, ECU campus, and shopping!! Home has been Meticulously cared for!

4. 2018-09-26
   soldstatus $137,000

   Show marketing remark (769 chars)

   Stunning Move In Ready 3 bedroom and 2 bath home in Bullock Farm. New carpet in All 3 Bedrooms, Hardwood Style Flooring throughout Family Room, New Paint make this house picture perfect and ready for a new family. Spacious kitchen with eat-in-area that's great for entertaining. Family Rm has tons of Natural Light flowing in the many windows. Fireplace with Large Custom Mantle. Huge master bedroom with walk-in closets, New Carpet, Great Master Bath w Double Vanity. Tons of storage throughout the home. Laundry area located just off the bedrooms. Large yard with vinyl picket fencing on a massive lot. Located in the heart of Winterville, Great Schools, close to Greenville, minutes from the hospital, ECU campus, and shopping!! Home has been Meticulously cared for!

5. 2018-08-15
   listed $134,900 769-char remark

   Show marketing remark (769 chars)

   Stunning Move In Ready 3 bedroom and 2 bath home in Bullock Farm. New carpet in All 3 Bedrooms, Hardwood Style Flooring throughout Family Room, New Paint make this house picture perfect and ready for a new family. Spacious kitchen with eat-in-area that's great for entertaining. Family Rm has tons of Natural Light flowing in the many windows. Fireplace with Large Custom Mantle. Huge master bedroom with walk-in closets, New Carpet, Great Master Bath w Double Vanity. Tons of storage throughout the home. Laundry area located just off the bedrooms. Large yard with vinyl picket fencing on a massive lot. Located in the heart of Winterville, Great Schools, close to Greenville, minutes from the hospital, ECU campus, and shopping!! Home has been Meticulously cared for!

6. 2009-04-28
   soldstatus $120,500
7. 2009-04-27
   soldstatus $120,500 295-char remark

   Show marketing remark (295 chars)

   Immaculate home. Sunny eat-in Kitchen with bay window. Great room with fireplace & raised plant shelf. Split bedroom plan. Master with vaulted ceiling, walk-in closet. Master bath with separate wet area. Good storage space. Rear/side covered patio. Side double parking pad. Attached storage.

8. 2009-01-02
   listed $118,900 295-char remark

   Show marketing remark (295 chars)

   Immaculate home. Sunny eat-in Kitchen with bay window. Great room with fireplace & raised plant shelf. Split bedroom plan. Master with vaulted ceiling, walk-in closet. Master bath with separate wet area. Good storage space. Rear/side covered patio. Side double parking pad. Attached storage.

ⓘ 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: $1,515 · $126/mo
• Projected year-2 tax: $1,927 · $161/mo
• Expected delta: +$412/yr (+$34/mo · 27.2%)

ⓘ 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 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,438
• − Mortgage interest: −$13,164
• − Property taxes: −$1,515
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$6,836
• Taxable loss: −$3,842
• Est. tax savings @ 24.0%: +$922
• After-tax cash flow: $1,170/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: Pitt County Schools
• NCES district ID: 3700012
• Math proficiency: 41% ▬ 0.00%
• Reading proficiency: 44% ▲ 2.00%
• Median HH income: $40,631
• Composite: 35.67/100
• National rank: #4877
• State rank: #100 of 178 in NC

Livability — Winterville

• Score: 76/100
• State rank: #33
• US rank: #3282

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winterville, NC
• County: Pitt County · 142,592 people
• City population: 27,471
• Metro: Greenville, NC
• Population (ZIP): 27,471
• Household income: $83,880
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 391.0

Population outlook (Pitt County) Hauer SSP2

• Today (2025): 194,585 people
• By 2030: 203,756 · +4.7%
• By 2040: 220,807 · +13.5%
• By 2050: 236,614 · +21.6%
• By 2075: 275,940 · +41.8%
• By 2100: 300,058 · +54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 58% Black 32% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Italian 3% Serbian 3% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Pitt

• 2024 margin: Lean D (+6.0) · D 52.5% · R 46.5% · Other 1.1%
• 2008→2024 swing: -2.8pp toward R · 2008: 8.8pp · 2024: 6.0pp
• All cycles: 2024: D+6.0 2020: D+9.4 2016: D+7.4 2012: D+6.7 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.97%
• Current HPI: 183.8477
• Rent YoY: ▲ 1.43%
• Metro: Greenville, 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

+97.6% since first listed

8 events — show timeline

• 2026-05-16 Pending — Hive MLS
• 2026-05-15 Listed $235,000 Hive MLS
• 2018-09-26 Sold (Public Records) $137,000 Public Records
• 2018-09-26 Sold (MLS) $136,500 Hive MLS
• 2018-08-15 Listed $134,900 Hive MLS
• 2009-04-28 Sold (Public Records) $120,500 Public Records
• 2009-04-27 Sold (MLS) $120,500 Hive MLS
• 2009-01-02 Listed $118,900 Hive MLS

Property tax history

+5.8%/yr

Latest (2025): $1,515 · +0.8% YoY. Source: county tax records.