1657 Harper St · Rocky Mount, NC 27801

$140,000

3 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 297 Days on market

Built 1977 6,650 sqft lot Est $93k · 50% 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 +23.8/30.0
• DSCR +7.7/10.0
• 1% rule +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Nice Brick home for a family, 3 Bedroom, 1 Bath. Living Room, Kitchen and dining room. Nice Yard. Owner giving 10,000 Heat & Air Allowance, some updates

Key facts

• Yard
• Kitchen
• Living room

Tags

• BRICK HOME
• LIVING ROOM
• KITCHEN
• DINING ROOM
• YARD

Property features AI

Finance

• Other: Zoning: R6; Road frontage on city street and state road; Lot dimensions approximately 50 x 133 (0.15 acres)

Exterior

• Parking: On-street parking available; On-site parking available
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single-family residence; One level; Residential property
• Construction: Concrete and brick construction; Brick/mortar foundation; Built with traditional construction materials
• Exterior features: No patio or porch; No fencing; Shingle roof

Interior

• Kitchen: Kitchen-located laundry (see Laundry & utility)
• Bedrooms: 5 total rooms
• Flooring: Wood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating; Space heater; No central cooling
• Interior features: Ceiling fan(s)
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.5% in Rocky Mount — 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 70/100 on livability (#134 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, employment F.
• Edgecombe County Public Schools (rural): math 21% / reading 27% proficiency, ranked #163 of 178 in NC (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: G W Bulluck Elementary (math 19% / reading 27%, grade F, #1,168 of 1,410 statewide, top 83%, 609 students, 100% FRL); West Edgecombe Middle (math 22% / reading 30%, grade F, #385 of 475 statewide, top 81%, 314 students, 99% FRL); Southwest Edgecombe High (math 42% / reading 37%, grade F, #393 of 535 statewide, top 75%, 802 students, 100% FRL) — zoned schools average 99% FRL vs 74% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 134 active listings in the ZIP; lower-income renter base — watch delinquency; 50 units permitted in Edgecombe County in 2024 (5 in 5+ unit buildings).
• This rent runs 37% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Edgecombe County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 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 1977 — 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. 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?
7. 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?
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: 1.00% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $93,450
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1558 Harper St	0.13mi	3/1.0	1,080 (+3%)	11mo	$95,000	$88	79
129 Lucas Cir	0.37mi	3/1.5	1,050 (0%)	14mo	$101,500	$97	70
817 Corbett Dr	0.67mi	3/1.0	1,075 (+2%)	2mo	$90,000	$84	63
1624 Fountain St	0.30mi	2/1.0 (-1)	1,040 (-1%)	20mo	$75,000	$72	63
1312 Beckman St	0.41mi	3/1.5	1,020 (-3%)	23mo	$133,500	$131	55
1604 Robert Ave	0.49mi	3/1.0	962 (-8%)	12mo	$149,900	$156	53
1548 Fountain St	0.36mi	2/1.5 (-1)	936 (-11%)	9mo	$33,792	$36	51
1004 Leggett Rd	0.61mi	3/2.0	1,060 (+1%)	18mo	$150,000	$142	51
1709 Whitfield Ave	0.46mi	3/1.5	1,178 (+12%)	11mo	$115,000	$98	47
1548 Charter Dr	0.45mi	2/1.0 (-1)	945 (-10%)	24mo	$75,000	$79	37
908 Shepard Dr	0.69mi	3/1.0	1,160 (+10%)	20mo	$103,000	$89	34

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: -3.8%
• Equity multiple: 0.86×
• Total profit: $-5,633
• Equity at exit: $20,874

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $16,892
• Equity at exit: $12,105

Cash invested: $39,200 (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 27801

• Home prices YoY: -5.6%
• Active inventory: 134
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,402 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$46 /mo · $552/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $269

Break-even live

Break-even rent $1,061

Max offer price $140,000

Occupancy floor 76%

Sensitivity live

Price	-10% $348	-5% $308	+0% $269	+5% $229	+10% $189
Rent	-10% $158	-5% $213	+0% $269	+5% $324	+10% $379
Rate	-1.0pp $339	-0.5pp $304	base $269	+0.5pp $232	+1.0pp $195

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $140,000 Active 297 DOM
2. 2026-06-19
   days on market $140,000 Active 295 DOM
3. 2026-06-18
   days on market $140,000 Active 294 DOM
4. 2026-06-17
   days on market $140,000 Active 293 DOM
5. 2026-06-16
   days on market $140,000 Active 292 DOM
6. 2026-06-15
   days on market $140,000 Active 291 DOM
7. 2026-06-14
   days on market $140,000 Active 289 DOM
8. 2026-06-13
   days on market $140,000 Active 288 DOM
9. 2026-06-10
   days on market $140,000 Active 286 DOM
10. 2026-06-09
    days on market $140,000 Active 285 DOM
11. 2026-06-08
    days on market $140,000 Active 284 DOM
12. 2026-06-07
    days on market $140,000 Active 283 DOM
13. 2026-06-05
    days on market $140,000 Active 280 DOM
14. 2026-06-02
    days on market $140,000 Active 278 DOM
15. 2026-06-01
    days on market $140,000 Active 277 DOM
16. 2026-05-31
    days on market $140,000 Active 276 DOM
17. 2026-05-30
    days on market $140,000 Active 275 DOM
18. 2025-08-28
    listed $140,000 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: $552 · $46/mo
• Projected year-2 tax: $1,148 · $96/mo
• Expected delta: +$596/yr (+$50/mo · 107.9%)

ⓘ 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 ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,818
• − Mortgage interest: −$7,842
• − Property taxes: −$552
• − Insurance: −$700
• − Repairs & maintenance: −$1,345
• − Management: −$1,345
• − Depreciation: −$4,073
• Taxable income: $960
• Est. tax owed @ 24.0%: −$230
• After-tax cash flow: $2,994/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: Edgecombe County Public Schools
• NCES district ID: 3701320
• Math proficiency: 21% ▼ -2.00%
• Reading proficiency: 27% ▲ 2.00%
• Median HH income: $35,711
• Composite: 19.85/100
• National rank: #8696
• State rank: #163 of 178 in NC

Livability — Rocky Mount

• Score: 70/100
• State rank: #134
• US rank: #7692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky Mount, NC
• County: Edgecombe County · 37,913 people
• City population: 70,300
• Metro: Rocky Mount, NC
• Population (ZIP): 19,532
• Household income: $44,884
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 900.0

Population outlook (Edgecombe County) Hauer SSP2

• Today (2025): 47,800 people
• By 2030: 44,396 · -7.1%
• By 2040: 37,562 · -21.4%
• By 2050: 31,495 · -34.1%
• By 2075: 20,943 · -56.2%
• By 2100: 13,674 · -71.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 24% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Edgecombe

• 2024 margin: Strong D (+22.7) · D 61.0% · R 38.3%
• 2008→2024 swing: -11.8pp toward R · 2008: 34.5pp · 2024: 22.7pp
• All cycles: 2024: D+22.7 2020: D+27.0 2016: D+32.2 2012: D+36.4 2008: D+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.65%
• Current HPI: 296.3428
• Rent YoY: —
• Metro: Rocky Mount, 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

1 event — show timeline

• 2025-08-28 Listed $140,000 Hive MLS

Property tax history

+2.1%/yr

Latest (2025): $552 · +0.0% YoY. Source: county tax records.