307 Dobbs St · Hertford, NC 27944

$157,900

4 bd · 2.0 ba · 2,167 sqft · Other public records · 116 Days on market

Built 1902 0.37 ac lot

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Why this score? — see what drove the B 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 +26.6/30.0
• Appreciation +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +3.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming 1902 4-bedroom, 2-bath home full of character and potential. Spacious yard offers plenty of room for outdoor enjoyment, gardening, or future enhancements. Property features both a detached shed and an attached shed for additional storage or workshop space. Home is being sold strictly as-is. Utilities are currently not turned on; buyer will need to have a licensed electrician and licensed plumber evaluate systems to determine if utilities can be activated. Great opportunity for investors or buyers looking to restore a classic home.

Key facts

• Spacious yard
• Attached shed
• Detached shed

Tags

• SPACIOUS YARD
• DETACHED SHED
• ATTACHED SHED

Property features AI

Exterior

• Parking: Has a carport (1 space); Off-street parking
• Utilities: Public sewer; Utilities described in remarks
• Home design: Single family residence; Two stories
• Construction: Vinyl siding and frame construction; Block foundation; Metal roof; Built as a residential single-family home
• Exterior features: Front porch; Chain link fencing; Pergola; Shed(s); Has a view

Interior

• Kitchen: Gas range; Dishwasher; Microwave; Refrigerator
• Bedrooms: Master downstairs
• Flooring: Carpet; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: No central heating listed; Wall/window cooling units
• Interior features: Master suite on the ground floor; Entrance foyer; Unfurnished
• Laundry & utility: Washer and dryer; Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $158k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• Recommended offer: $144k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.2% in Hertford — 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 58/100 on livability (#570 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Perquimans County Schools (rural): math 44% / reading 48% proficiency, ranked #83 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perquimans Central (391 students, 65% FRL); Perquimans County Middle (math 39% / reading 48%, grade D, #182 of 475 statewide, top 40%, 366 students, 59% FRL); Perquimans County High (math 47% / reading 42%, grade F, #352 of 535 statewide, top 68%, 518 students, 59% FRL).
• Market conditions: 339 active listings in the ZIP; 46 units permitted in Perquimans County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Perquimans County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($144k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1902 — 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 $143,689 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — 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: 1.14% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.42%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.6%
• Equity multiple: 3.55×
• Total profit: $112,761
• Equity at exit: $142,249

10-year hold

• IRR: 28.2%
• Equity multiple: 8.03×
• Total profit: $310,937
• Equity at exit: $306,765

Cash invested: $44,212 (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 27944

• Home prices YoY: 9.5%
• Active inventory: 339
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$828
• Tax from tax record: −$107 /mo · $1,288/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $421

Break-even live

Break-even rent $1,267

Max offer price $157,900

Occupancy floor 72%

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: $39,475
• Closing costs: $4,737
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $157,900 Active 116 DOM
2. 2026-06-18
   days on market $157,900 Active 115 DOM
3. 2026-06-17
   days on market $157,900 Active 114 DOM
4. 2026-06-16
   days on market $157,900 Active 113 DOM
5. 2026-06-15
   days on market $157,900 Active 112 DOM
6. 2026-06-14
   days on market $157,900 Active 110 DOM
7. 2026-06-12
   days on market $157,900 Active 109 DOM
8. 2026-06-09
   days on market $157,900 Active 106 DOM
9. 2026-06-08
   days on market $157,900 Active 105 DOM
10. 2026-06-07
    pricedays on market $157,900 Active 104 DOM
11. 2026-06-03
    days on market $169,900 Active 100 DOM
12. 2026-06-02
    days on market $169,900 Active 99 DOM
13. 2026-06-01
    days on market $169,900 Active 98 DOM
14. 2026-05-31
    days on market $169,900 Active 97 DOM
15. 2026-05-30
    days on market $169,900 Active 96 DOM
16. 2026-02-23
    listed $169,900 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: $1,288 · $107/mo
• Projected year-2 tax: $1,295 · $108/mo
• Expected delta: +$7/yr (+$1/mo · 0.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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: $21,598
• − Mortgage interest: −$8,845
• − Property taxes: −$1,288
• − Insurance: −$790
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$4,593
• Taxable income: $2,626
• Est. tax owed @ 24.0%: −$630
• After-tax cash flow: $4,418/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: Perquimans County Schools
• NCES district ID: 3703600
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 48% ▲ 7.00%
• Median HH income: $42,593
• Composite: 38.75/100
• National rank: #4124
• State rank: #83 of 178 in NC

Livability — Hertford

• Score: 58/100
• State rank: #570
• US rank: #21148

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hertford, NC
• Population (ZIP): 11,255

Population outlook (Perquimans County) Hauer SSP2

• Today (2025): 13,018 people
• By 2030: 12,716 · -2.3%
• By 2040: 11,895 · -8.6%
• By 2050: 10,981 · -15.6%
• By 2075: 8,931 · -31.4%
• By 2100: 7,101 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 20% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada, China, Dominican Republic
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Perquimans

• 2024 margin: Solid R (+39.4) · D 29.7% · R 69.1% · Other 1.2%
• 2008→2024 swing: -25.4pp toward R · 2008: -13.9pp · 2024: -39.4pp
• All cycles: 2024: R+39.4 2020: R+32.2 2016: R+28.1 2012: R+16.1 2008: R+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.77%
• Current HPI: 261.91
• 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

1 event — show timeline

• 2026-02-23 Listed $169,900 Hive MLS

Property tax history

-0.5%/yr

Latest (2025): $1,288 · +0.0% YoY. Source: county tax records.