203 N Sylvan Dr · Greenville, NC 27834

$155,000

2 bd · 1.0 ba · 1,143 sqft · SingleFamily public records · 21 Days on market

Built 1950 Est $134k · 16% over

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Why this score? — see what drove the F 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 +13.3/30.0
• DSCR +4.0/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Listing remarks

Home for sale in a great location close to ECU medical, schools, and shopping centers. Home has 2 spacious bedrooms, Living room with an electric fireplace, dining area, and a renovated kitchen and bathroom. There are hard wood floors through most of the home and lots of windows for natural sunlight. Updates to the home include some new flooring, new roofing and a new central hvac system Sufficient off street parking in the front and sides of the house and the cleared backyard has many possibilities. Don& apos; t miss out on this opportunity whether you& apos; re buying to keep as an investment or a personal home.

Key facts

• Hard wood floors
• Renovated bathroom
• New flooring

Tags

• ELECTRIC FIREPLACE
• RENOVATED KITCHEN
• RENOVATED BATHROOM
• HARD WOOD FLOORS
• NATURAL SUNLIGHT
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $1 ($15/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 $124k (20.0% below list).
• Recommended offer: $124k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.8% in Greenville — 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 77/100 on livability (#30 in NC, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, employment 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: South Greenville Elementary (math 8% / reading 12%, grade F, #1,385 of 1,410 statewide, top 99%, 281 students, 96% FRL); E B Aycock Middle (math 27% / reading 30%, grade F, #355 of 475 statewide, top 76%, 661 students, 99% FRL); Junius H Rose High (math 52% / reading 61%, grade C, #261 of 535 statewide, top 49%, 1,525 students, 50% FRL) — zoned schools average 82% FRL vs 56% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 355 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).
• This rent runs 30% of the median local income ($49k/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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 21 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $155k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $123,941 (20.0% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 6.30%
• Cash-on-cash: 0.03%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $133,731
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 Pittman Dr	0.28mi	3/1.0 (+1)	1,150 (+1%)	4mo	$137,500	$120	78
309 N Sylvan Dr	0.13mi	3/1.0 (+1)	1,132 (-1%)	12mo	$75,000	$66	77
2108 Pendleton St	0.14mi	3/2.0 (+1)	1,080 (-6%)	3mo	$225,000	$208	73
200 S Sylvan Dr	0.10mi	3/1.5 (+1)	1,022 (-11%)	2mo	$125,000	$122	69
110 S Sylvan Dr	0.07mi	2/1.0	996 (-13%)	12mo	$85,000	$85	65
402 Abel St	0.17mi	3/1.5 (+1)	1,296 (+13%)	0mo	$99,000	$76	62
2704 Shawnee Pl	0.53mi	3/1.0 (+1)	1,209 (+6%)	1mo	$179,900	$149	60
106 Paris Ave	0.72mi	3/1.0 (+1)	1,158 (+1%)	0mo	$75,000	$65	59
301 Millbrook St	0.64mi	3/1.0 (+1)	1,120 (-2%)	3mo	$110,000	$98	59
405 Arbor St	0.66mi	3/1.0 (+1)	1,184 (+4%)	0mo	$150,000	$127	58
914 Howell St	0.34mi	3/1.0 (+1)	1,075 (-6%)	14mo	$125,900	$117	57
410 W Village Dr	0.70mi	3/1.0 (+1)	975 (-15%)	9mo	$75,000	$77	30

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 · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.49×
• Total profit: $-21,961
• Equity at exit: $23,111

10-year hold

• IRR: -1.8%
• Equity multiple: 0.87×
• Total profit: $-5,735
• Equity at exit: $13,402

Cash invested: $43,400 (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 27834

• Rents YoY: 5.4%
• Active inventory: 355
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,239 high
• Mortgage (P&I): −$813
• Tax from tax record: −$100 /mo · $1,206/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $1

Break-even live

Break-even rent $1,238

Max offer price $155,000

Occupancy floor 95%

Sensitivity live

Price	-10% $89	-5% $45	+0% $1	+5% $-43	+10% $-87
Rent	-10% $-97	-5% $-48	+0% $1	+5% $50	+10% $99
Rate	-1.0pp $79	-0.5pp $41	base $1	+0.5pp $-39	+1.0pp $-80

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1604 W Arlington Blvd Greenville, NC	1.0–2.0	1.0	624	$1,125	$1.80	14d	11	0.37mi
1902 Myrtle St Unit 1902-A Greenville, NC	2.0	1.0	848	$850	$1.00	22d	1	0.50mi
111 Lakeview Ter Greenville, NC	2.0–3.0	1.0–2.0	750	$1,010	$1.35	14d	7	0.51mi
2613 Whitaker Dr Greenville, NC	2.0	1.0	853	$1,004	$1.18	22d	1	0.52mi
300 Higgs St Unit 300-B Greenville, NC	2.0	1.0	756	$900	$1.19	22d	1	0.54mi
400 Arbor St Greenville, NC	2.0	1.0	860	$1,850	$2.15	22d	1	0.61mi
1710 Garland St Greenville, NC	2.0	1.0	884	$1,195	$1.35	22d	1	0.62mi
1151 Cross Creek Cir Unit D Greenville, NC	3.0	2.5	1338	$1,550	$1.16	14d	1	0.65mi
1151 Cross Creek Cir Greenville, NC	3.0	2.5	1338	$1,600	$1.20	22d	1	0.71mi
904 Gabriel Dr Greenville, NC	1.0–2.0	1.0–2.0	966	$1,875	$1.94	22d	17	0.71mi
1150 Cross Creek Cir Greenville, NC	2.0	2.0	1100	$1,200	$1.09	22d	1	0.71mi
600 Howell St Apt E Greenville, NC	2.0	1.0	1050	$815	$0.78	22d	1	0.72mi
1035 Spring Forest Rd Greenville, NC	3.0	2.0–2.5	1453	$1,450	$1.00	22d	2	0.72mi
1015 Spring Forest Rd Unit F5 Greenville, NC	3.0	2.5	1453	$1,200	$0.83	22d	1	0.76mi
1304 Myrtle St Greenville, NC	3.0	1.0	978	$1,375	$1.41	22d	1	0.85mi
2207 Wandsworth Dr Greenville, NC	1.0–2.0	1.0	650	$900	$1.38	14d	5	0.87mi
935 Spring Forest Rd Greenville, NC	2.0	2.0	1000	$1,299	$1.30	22d	4	0.87mi
504 Davenport St Unit A Greenville, NC	2.0	1.0	900	$895	$0.99	14d	1	0.89mi
1612 Lincoln Dr Greenville, NC	3.0	1.0	972	$900	$0.93	14d	1	1.04mi
1510 Bridle Ct Greenville, NC	1.0–3.0	1.0–2.0	798	$1,062	$1.33	22d	1	1.25mi
3709 Nantucket Rd Unit A Greenville, NC	3.0	2.0	1427	$1,700	$1.19	14d	1	1.34mi
206 Hudson St Greenville, NC	2.0	1.0	1150	$900	$0.78	22d	1	1.36mi
550 Pitt-Greene Connector Greenville, NC	4.0	1.0–4.0	1012	$1,102	$1.09	14d	25	1.37mi
701 Treybrooke Cir Greenville, NC	1.0–2.0	1.5–2.0	1070	$1,650	$1.54	14d	18	1.48mi

Listing history 16 events

1. 2026-06-21
   days on market $155,000 Active 21 DOM
2. 2026-06-19
   days on market $155,000 Active 19 DOM
3. 2026-06-18
   days on market $155,000 Active 18 DOM
4. 2026-06-17
   days on market $155,000 Active 17 DOM
5. 2026-06-16
   days on market $155,000 Active 16 DOM
6. 2026-06-15
   days on market $155,000 Active 15 DOM
7. 2026-06-13
   days on market $155,000 Active 12 DOM
8. 2026-06-10
   days on market $155,000 Active 10 DOM
9. 2026-06-09
   days on market $155,000 Active 9 DOM
10. 2026-06-08
    days on market $155,000 Active 8 DOM
11. 2026-06-07
    days on market $155,000 Active 7 DOM
12. 2026-06-05
    days on market $155,000 Active 4 DOM
13. 2026-06-03
    days on market $155,000 Active 3 DOM
14. 2026-06-02
    days on market $155,000 Active 2 DOM
15. 2026-05-31
    remarks 621-char remark
16. 2026-05-31
    listed $155,000 Active 1 DOM

ⓘ 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: $1,206 · $100/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$65/yr (+$5/mo · 5.4%)

ⓘ 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 1/10 Low
• 🌡 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: $14,873
• − Mortgage interest: −$8,682
• − Property taxes: −$1,206
• − Insurance: −$775
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$4,509
• Taxable loss: −$2,679
• Est. tax savings @ 24.0%: +$643
• After-tax cash flow: $658/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 — Greenville

• Score: 77/100
• State rank: #30
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NC
• County: Pitt County · 142,592 people
• City population: 115,121
• Metro: Greenville, NC
• Population (ZIP): 56,347
• Household income: $48,935
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 3319.0

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 0.59)
• Race & ethnicity: Black 54% White 33% Hispanic / Latino 8% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 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: ▼ -187.99%
• Current HPI: 190.6869
• Rent YoY: ▲ 5.44%
• 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

+273.5% since first listed

3 events — show timeline

• 2026-05-27 Listed $155,000 Fizber.com
• 2026-01-29 Sold (Public Records) $60,000 Public Records
• 1988-12-01 Sold (Public Records) $41,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,206 · +1.0% YoY. Source: county tax records.