1400 Chestnut St · Greenville, NC 27834

$185,500

4 bd · 2.0 ba · 2,371 sqft · SingleFamily public records · 72 Days on market

Built 1908 6,534 sqft lot Est $171k · 9% over ↓ 28% since listing

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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 +20.7/30.0
• DSCR +6.6/10.0
• 1% rule +4.7/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• ARV discount +3.6/15.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This clean versatile duplex offers a prime opportunity for a first-time buyer or a savvy investor. Each unit features its own entrance and is fully separately metered for water, electric, and gas. You can live on one side while renting out the other to cover your mortgage. There is another building on the property that was previously rented as a studio apartment and is also separately metered with water and electric. It can now be used as a storage space, private work studio or office. Highlights include a spacious yard perfect for entertaining and a stunning wraparound porch renovated in 2022. Ideally located, you are minutes from the local hospital, schools, shopping, grocery stores, East Carolina University and the downtown entertainment district just a 10 minute walk away. This property is being sold in ''as is'' condition.

Key facts

• 6,534 sq ft lot
• Built 1908
• Listed 72 days

Property features AI

Finance

• Other: Zoning: R6
• HOA & community: Sidewalks and street lights in the community

Exterior

• Parking: Off-street paved parking
• Utilities: Utilities: see remarks
• Home design: Single-family residence, two stories; Not in a subdivision; Subdivision lot dimensions approximately 44 x 148
• Construction: Vinyl siding with frame construction; Shingle roof; Slab foundation; Built on two levels
• Exterior features: Front porch; Corner lot; No fencing; Has a view

Interior

• Kitchen: Electric water heater
• Bedrooms: Total rooms: 7
• Flooring: Parquet; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Pantry; Storm windows
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $186k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/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 $180k (2.9% below list).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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); C M Eppes Middle (math 24% / reading 32%, grade F, #360 of 475 statewide, top 77%, 626 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); 356 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).
• This rent runs 44% 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 $6k 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 72 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1908 — 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 $174,370 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — 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. 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?
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: 0.97% ✗
• Cap rate: 7.92%
• Cash-on-cash: 5.83%
• DSCR: 1.26
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $170,712
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
902 W 5th St	0.49mi	4/2.5	2,396 (+1%)	12mo	$150,000	$63	63
1104 Ward St	0.56mi	3/2.5 (-1)	2,287 (-4%)	8mo	$164,000	$72	54

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-9,509
• Equity at exit: $27,659

10-year hold

• IRR: 7.4%
• Equity multiple: 1.61×
• Total profit: $31,778
• Equity at exit: $16,039

Cash invested: $51,940 (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: 356
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,802 medium
• Mortgage (P&I): −$973
• Tax from tax record: −$121 /mo · $1,452/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $252

Break-even live

Break-even rent $1,482

Max offer price $185,500

Occupancy floor 81%

Sensitivity live

Price	-10% $357	-5% $305	+0% $252	+5% $200	+10% $147
Rent	-10% $110	-5% $181	+0% $252	+5% $323	+10% $394
Rate	-1.0pp $346	-0.5pp $299	base $252	+0.5pp $204	+1.0pp $155

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: $46,375
• Closing costs: $5,565
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
550 Pitt-Greene Connector Greenville, NC	4.0	1.0–4.0	1012	$1,475	$1.46	15d	25	0.59mi
2610 Evans St Greenville, NC	3.0	2.0	1931	$1,800	$0.93	23d	1	1.39mi

Listing history 20 events

1. 2026-06-21
   days on market $185,500 Active 72 DOM
2. 2026-06-19
   days on market $185,500 Active 70 DOM
3. 2026-06-18
   days on market $185,500 Active 69 DOM
4. 2026-06-17
   days on market $185,500 Active 68 DOM
5. 2026-06-16
   days on market $185,500 Active 67 DOM
6. 2026-06-15
   days on market $185,500 Active 66 DOM
7. 2026-06-13
   days on market $185,500 Active 63 DOM
8. 2026-06-10
   days on market $185,500 Active 61 DOM
9. 2026-06-09
   days on market $185,500 Active 60 DOM
10. 2026-06-08
    days on market $185,500 Active 59 DOM
11. 2026-06-07
    days on market $185,500 Active 58 DOM
12. 2026-06-05
    days on market $185,500 Active 55 DOM
13. 2026-06-03
    days on market $185,500 Active 54 DOM
14. 2026-06-02
    days on market $185,500 Active 53 DOM
15. 2026-06-01
    days on market $185,500 Active 52 DOM
16. 2026-05-31
    days on market $185,500 Active 51 DOM
17. 2026-05-30
    days on market $185,500 Active 50 DOM
18. 2026-04-10
    listed $185,500 Active 839-char remark

    Show marketing remark (839 chars)

    This clean versatile duplex offers a prime opportunity for a first-time buyer or a savvy investor. Each unit features its own entrance and is fully separately metered for water, electric, and gas. You can live on one side while renting out the other to cover your mortgage. There is another building on the property that was previously rented as a studio apartment and is also separately metered with water and electric. It can now be used as a storage space, private work studio or office. Highlights include a spacious yard perfect for entertaining and a stunning wraparound porch renovated in 2022. Ideally located, you are minutes from the local hospital, schools, shopping, grocery stores, East Carolina University and the downtown entertainment district just a 10 minute walk away. This property is being sold in ''as is'' condition.

19. 2026-04-10
    listed $185,500 Active

    Show marketing remark (839 chars)

    This clean versatile duplex offers a prime opportunity for a first-time buyer or a savvy investor. Each unit features its own entrance and is fully separately metered for water, electric, and gas. You can live on one side while renting out the other to cover your mortgage. There is another building on the property that was previously rented as a studio apartment and is also separately metered with water and electric. It can now be used as a storage space, private work studio or office. Highlights include a spacious yard perfect for entertaining and a stunning wraparound porch renovated in 2022. Ideally located, you are minutes from the local hospital, schools, shopping, grocery stores, East Carolina University and the downtown entertainment district just a 10 minute walk away. This property is being sold in ''as is'' condition.

20. 2008-05-01
    soldstatus $256,000

ⓘ 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: $1,452 · $121/mo
• Projected year-2 tax: $1,521 · $127/mo
• Expected delta: +$69/yr (+$6/mo · 4.7%)

ⓘ 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 3/10 Moderate
• 🌡 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: $21,619
• − Mortgage interest: −$10,391
• − Property taxes: −$1,452
• − Insurance: −$928
• − Repairs & maintenance: −$1,730
• − Management: −$1,730
• − Depreciation: −$5,396
• Taxable loss: −$7
• Est. tax savings @ 24.0%: +$2
• After-tax cash flow: $3,028/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

-27.5% since first listed

3 events — show timeline

• 2026-04-10 Listed $185,500 Hive MLS
• 2026-04-10 Listed $185,500 Hive MLS
• 2008-05-01 Sold (Public Records) $256,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $1,452 · +0.8% YoY. Source: county tax records.