500 House Ave · Scotland Neck, NC 27874

$120,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 40 Days on market

Built 1961

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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 +13.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• DSCR +3.9/10.0
• Livability +2.9/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Lovely 3 bedroom 1 bathroom renovated house on corner lot property , a spacious . 26 lot in quiet neighborhood with big back yard to relax in. Very solid house, new kitchen cabinets, counter top and sink. New flooring throughout kitchen, living room and bathroom, the flooring in bedrooms is original and has been refinished which turned out absolutely gorgeous. Most windows have been upgraded as well as the front and back doors. For sale by owner. putting fresh coat of paint on exterior should be done in the next week weather permitting.

Key facts

• Fresh coat of paint
• Big back yard
• New flooring

Tags

• CORNER LOT
• BIG BACK YARD
• NEW KITCHEN CABINETS
• NEW FLOORING
• UPGRADED WINDOWS
• FRESH COAT OF PAINT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-5 ($-54/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (25.1% below list).
• Recommended offer: $90k (25.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#566 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A, crime A-; Watch: housing D, amenities F, commute F.
• Halifax County Schools (rural): math 6% / reading 24% proficiency, ranked #177 of 178 in NC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Scotland Neck Elementary Leadership Acad (math 2% / reading 17%, grade F, #1,385 of 1,410 statewide, top 99%, 149 students, 98% FRL); Enfield Middle S.T.E.A.M. Academy (math 2% / reading 15%, grade F, #475 of 475 statewide, top 100%, 210 students, 99% FRL); Southeast Halifax Collegiate Prep Academ (math 5% / reading 34%, grade F, #492 of 535 statewide, top 93%, 196 students, 98% FRL) — zoned schools average 98% FRL vs 82% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 22 active listings in the ZIP; 55 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($830 loan paydown + $4k appreciation (3.5% local appreciation)).
• Halifax County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $120k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $89,879 (25.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $61,344
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 E 10th St	0.64mi	2/1.0 (-1)	775 (-10%)	23mo	$55,000	$71	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.51×
• Total profit: $17,291
• Equity at exit: $57,342

10-year hold

• IRR: 11.0%
• Equity multiple: 2.73×
• Total profit: $58,042
• Equity at exit: $91,097

Cash invested: $33,600 (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 27874

• Home prices YoY: 2.0%
• Active inventory: 22
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $899 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$35 /mo · $423/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $-5

Break-even live

Break-even rent $905

Max offer price $119,198

Occupancy floor 96%

Sensitivity live

Price	-10% $63	-5% $29	+0% $-5	+5% $-39	+10% $-72
Rent	-10% $-76	-5% $-40	+0% $-5	+5% $31	+10% $66
Rate	-1.0pp $56	-0.5pp $26	base $-5	+0.5pp $-36	+1.0pp $-67

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $120,000 Active 40 DOM
2. 2026-06-19
   days on market $120,000 Active 38 DOM
3. 2026-06-18
   days on market $120,000 Active 37 DOM
4. 2026-06-17
   days on market $120,000 Active 36 DOM
5. 2026-06-16
   days on market $120,000 Active 35 DOM
6. 2026-06-15
   days on market $120,000 Active 34 DOM
7. 2026-06-14
   days on market $120,000 Active 32 DOM
8. 2026-06-12
   days on market $120,000 Active 31 DOM
9. 2026-06-09
   days on market $120,000 Active 28 DOM
10. 2026-06-08
    days on market $120,000 Active 27 DOM
11. 2026-06-07
    days on market $120,000 Active 26 DOM
12. 2026-06-07
    days on market $120,000 Active 25 DOM
13. 2026-06-02
    days on market $120,000 Active 21 DOM
14. 2026-06-01
    days on market $120,000 Active 20 DOM
15. 2026-05-31
    days on market $120,000 Active 19 DOM
16. 2026-05-30
    days on market $120,000 Active 18 DOM
17. 2026-05-12
    listed $120,000 Active
18. 2005-04-13
    soldstatus $70,000

ⓘ 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: $423 · $35/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$561/yr (+$47/mo · 132.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $10,785
• − Mortgage interest: −$6,722
• − Property taxes: −$423
• − Insurance: −$600
• − Repairs & maintenance: −$863
• − Management: −$863
• − Depreciation: −$3,491
• Taxable loss: −$2,176
• Est. tax savings @ 24.0%: +$522
• After-tax cash flow: $468/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: Halifax County Schools
• NCES district ID: 3701950
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 24% ▼ -1.00%
• Median HH income: $29,104
• Composite: 11.7/100
• National rank: #9690
• State rank: #177 of 178 in NC

Livability — Scotland Neck

• Score: 58/100
• State rank: #566
• US rank: #20832

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Scotland Neck, NC
• City population: 3,677
• Population (ZIP): 3,677

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 47,976 people
• By 2030: 45,450 · -5.3%
• By 2040: 39,980 · -16.7%
• By 2050: 34,863 · -27.3%
• By 2075: 25,577 · -46.7%
• By 2100: 18,365 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (74%)
• Race & ethnicity: Black 74% White 25%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Halifax

• 2024 margin: D (+17.7) · D 58.5% · R 40.9%
• 2008→2024 swing: -10.6pp toward R · 2008: 28.2pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+21.2 2016: D+26.9 2012: D+32.0 2008: D+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.50%
• Current HPI: 180.5586
• 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

+71.4% since first listed

2 events — show timeline

• 2026-05-12 Listed $120,000 FSBO.com
• 2005-04-13 Sold (Public Records) $70,000 Public Records

Property tax history

-2.3%/yr

Latest (2025): $423 · +0.6% YoY. Source: county tax records.