114 Rhodes Ave · Windsor, NC 27983

$135,000

5 bd · 1.0 ba · 1,224 sqft · SingleFamily public records · 65 Days on market

Built 1932 0.46 ac lot ↓ 23% since listing

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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 +18.8/30.0
• Appreciation +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

This vintage beauty is ready for renovation! You will love the big front porch, spacious rooms, tall ceilings in the living area, & 1st floor bedrooms. There is central HVAC on the primary level plus upstairs the original bead board is exposed in several spots. Town sewer & water. Excellent potential to convert to commercial property w Town approval. R-10 SINGLE & 2 FAMILY RES DIST

Key facts

• Central hvac
• Big front porch
• Tall ceilings

Tags

• BIG FRONT PORCH
• SPACIOUS ROOMS
• TALL CEILINGS
• CENTRAL HVAC
• ORIGINAL BEAD BOARD
• TOWN SEWER

Property features AI

Finance

• Other: Zoning: R-10 Single & 2 Family Residential
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Off-street parking
• Security: No security features provided
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single family residence; One and one-half levels; Entry level: 1; Residential property
• Construction: Vinyl siding and frame construction; Metal roof
• Exterior features: Covered porch; Porch; Storage structure on property; Paved road access; City street and state road frontage; Property has a view; Lot features: See remarks

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total of 7 rooms (bedrooms included in room count)
• Flooring: Carpet; Wood
• Bathrooms: One full bathroom
• Heating & cooling: Heating: Propane and other heating; Cooling: Other
• Interior features: Carpet and wood flooring; Crawl space basement
• Laundry & utility: No laundry or utility room details provided

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/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 $120k (10.9% below list).
• Recommended offer: $120k (10.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#187 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime C-, amenities F, commute F.
• Bertie County Schools (rural): math 17% / reading 31% proficiency, ranked #165 of 178 in NC (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Windsor Elementary (math 12% / reading 27%, grade F, #1,242 of 1,410 statewide, top 90%, 328 students, 99% FRL); Bertie Middle (math 13% / reading 31%, grade F, #416 of 475 statewide, top 89%, 425 students, 99% FRL); Bertie High (math 27% / reading 22%, grade F, #474 of 535 statewide, top 90%, 442 students, 99% FRL) — zoned schools average 99% FRL vs 80% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 25 active listings in the ZIP; 46 units permitted in Bertie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($933 loan paydown + $11k appreciation (8.0% local appreciation)).
• Bertie County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($127k) 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.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• 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 $120,347 (10.9% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.89% ✗
• Cap rate: 7.50%
• Cash-on-cash: 4.31%
• DSCR: 1.19
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.03% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.71×
• Total profit: $64,452
• Equity at exit: $102,835

10-year hold

• IRR: 21.2%
• Equity multiple: 5.77×
• Total profit: $180,479
• Equity at exit: $204,386

Cash invested: $37,800 (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 27983

• Home prices YoY: 4.6%
• Active inventory: 25
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,203 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $136

Break-even live

Break-even rent $1,032

Max offer price $135,000

Occupancy floor 84%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $135,000 Active 65 DOM
2. 2026-06-17
   days on market $135,000 Active 64 DOM
3. 2026-06-16
   days on market $135,000 Active 63 DOM
4. 2026-06-15
   days on market $135,000 Active 62 DOM
5. 2026-06-13
   days on market $135,000 Active 60 DOM
6. 2026-06-12
   days on market $135,000 Active 59 DOM
7. 2026-06-09
   days on market $135,000 Active 56 DOM
8. 2026-06-08
   days on market $135,000 Active 55 DOM
9. 2026-06-07
   days on market $135,000 Active 54 DOM
10. 2026-06-07
    days on market $135,000 Active 53 DOM
11. 2026-06-04
    days on market $135,000 Active 50 DOM
12. 2026-06-02
    days on market $135,000 Active 49 DOM
13. 2026-06-01
    days on market $135,000 Active 48 DOM
14. 2026-05-31
    days on market $135,000 Active 47 DOM
15. 2026-04-12
    listed $135,000 Active
16. 2025-11-23
    historical
17. 2025-05-22
    listed $160,000 Active
18. 2025-03-12
    historical
19. 2024-09-10
    listed $175,000 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: $611 · $51/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$496/yr (+$41/mo · 81.2%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $14,442
• − Mortgage interest: −$7,562
• − Property taxes: −$611
• − Insurance: −$675
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$3,927
• Taxable loss: −$644
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $1,782/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: Bertie County Schools
• NCES district ID: 3700360
• Math proficiency: 17% ▼ -7.00%
• Reading proficiency: 31% ▼ -2.00%
• Median HH income: $30,361
• Composite: 19.3/100
• National rank: #8797
• State rank: #165 of 178 in NC

Livability — Windsor

• Score: 68/100
• State rank: #187
• US rank: #9390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Windsor, NC
• Population (ZIP): 8,642

Population outlook (Bertie County) Hauer SSP2

• Today (2025): 18,388 people
• By 2030: 17,285 · -6.0%
• By 2040: 14,982 · -18.5%
• By 2050: 12,963 · -29.5%
• By 2075: 10,051 · -45.3%
• By 2100: 8,320 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (61%)
• Race & ethnicity: Black 61% White 31% Two or more races 4% Hispanic / Latino 4% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Iranian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Korean 1% Chinese 1%

Political lean MEDSL · Bertie

• 2024 margin: D (+15.7) · D 57.6% · R 41.9%
• 2008→2024 swing: -14.9pp toward R · 2008: 30.6pp · 2024: 15.7pp
• All cycles: 2024: D+15.7 2020: D+21.6 2016: D+25.2 2012: D+31.9 2008: D+30.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.03%
• Current HPI: 183.57
• 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

-22.9% since first listed

5 events — show timeline

• 2026-04-12 Listed $135,000 Hive MLS
• 2025-11-23 Listing Removed — Hive MLS
• 2025-05-22 Listed $160,000 Hive MLS
• 2025-03-12 Listing Removed — Hive MLS
• 2024-09-10 Listed $175,000 Hive MLS

Property tax history

+11.2%/yr

Latest (2025): $611 · +3.5% YoY. Source: county tax records.