112 Colony Dr · Cape Colony, NC 27932

$125,000

3 bd · 1.5 ba · 1,242 sqft · SingleFamily public records · 19 Days on market

Built 1978 0.35 ac lot $2/mo HOA

---

Why this score? — see what drove the C- 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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.6/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Cape Colony! Where you will enjoy deeded access to a sandy beach on the Albemarle Sound plus a neighborhood boat ramp too! The home offers 3 bedrooms, a flex room, comfortable living room & kitchen w pass thru window/ dining bar plus a covered front porch and storage room addition on the rear of the home. Offered as-is

Key facts

• Covered front porch
• 0.35 acre lot
• Built 1978

Tags

• DEEDED ACCESS TO A SANDY BEACH
• NEIGHBORHOOD BOAT RAMP
• COVERED FRONT PORCH
• STORAGE ROOM ADDITION

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $20 (about $1.67/month); Association includes beach access

Exterior

• Parking: Off-street parking
• Utilities: Public water; Water connected; Septic tank sewer
• Home design: Manufactured home; Residential property; One story; Entry level: 1
• Construction: Frame construction; Shingle roof; Built with referenced remarks
• Exterior features: Covered front porch; Storage structure on property; Waterfront access; Has view; Paved road access; Frontage type: see remarks; Road frontage on city street and state road

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric heating; Wall/window cooling unit(s)
• Interior features: Ceiling fan(s); Crawl space basement
• Laundry & utility: Washer hookup; Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/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 $120k (3.7% below list).
• Recommended offer: $120k (3.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Edenton-Chowan Schools (rural): math 37% / reading 42% proficiency, ranked #118 of 178 in NC (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: White Oak Elementary (509 students, 66% FRL); Chowan Middle (math 29% / reading 42%, grade F, #279 of 475 statewide, top 60%, 428 students, 68% FRL); John A Holmes High (math 57% / reading 47%, grade D+, #292 of 535 statewide, top 56%, 592 students, 57% FRL).
• Market conditions: 243 active listings in the ZIP; 48 units permitted in Chowan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Chowan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% 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 $120,367 (3.7% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.75%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $83,214
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Water Lilly Loop	0.48mi	3/1.0	1,196 (-4%)	11mo	$80,000	$67	60

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-9,605
• Equity at exit: $18,638

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $5,263
• Equity at exit: $10,808

Cash invested: $35,000 (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 27932

• Home prices YoY: -32.1%
• Active inventory: 243
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$74 /mo · $883/yr
• Insurance: −$52
• HOA: −$2
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $168

Break-even live

Break-even rent $991

Max offer price $125,000

Occupancy floor 81%

Sensitivity live

Price	-10% $238	-5% $203	+0% $168	+5% $132	+10% $97
Rent	-10% $73	-5% $120	+0% $168	+5% $215	+10% $263
Rate	-1.0pp $231	-0.5pp $200	base $168	+0.5pp $135	+1.0pp $102

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $2 · $24/yr

Listing history 15 events

1. 2026-06-22
   days on market $125,000 Active 19 DOM
2. 2026-06-21
   days on market $125,000 Active 18 DOM
3. 2026-06-21
   days on market $125,000 Active 17 DOM
4. 2026-06-18
   days on market $125,000 Active 15 DOM
5. 2026-06-17
   days on market $125,000 Active 14 DOM
6. 2026-06-16
   days on market $125,000 Active 13 DOM
7. 2026-06-15
   days on market $125,000 Active 12 DOM
8. 2026-06-13
   days on market $125,000 Active 10 DOM
9. 2026-06-12
   days on market $125,000 Active 9 DOM
10. 2026-06-09
    days on market $125,000 Active 6 DOM
11. 2026-06-08
    days on market $125,000 Active 5 DOM
12. 2026-06-07
    days on market $125,000 Active 4 DOM
13. 2026-06-07
    days on market $125,000 Active 3 DOM
14. 2026-06-04
    remarks 336-char remark
15. 2026-06-04
    listed $125,000 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: $883 · $74/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$142/yr (+$12/mo · 16.1%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 45% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $14,444
• − Mortgage interest: −$7,002
• − Property taxes: −$883
• − Insurance: −$625
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − HOA: −$24
• − Depreciation: −$3,636
• Taxable loss: −$37
• Est. tax savings @ 24.0%: +$9
• After-tax cash flow: $2,022/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: Edenton-Chowan Schools
• NCES district ID: 3700840
• Math proficiency: 37% ▼ -2.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $38,516
• Composite: 32.97/100
• National rank: #5586
• State rank: #118 of 178 in NC

Livability — Cape Colony

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Cape Colony, NC
• Population (ZIP): 12,784

Population outlook (Chowan County) Hauer SSP2

• Today (2025): 13,627 people
• By 2030: 13,099 · -3.9%
• By 2040: 11,899 · -12.7%
• By 2050: 10,858 · -20.3%
• By 2075: 9,010 · -33.9%
• By 2100: 7,463 · -45.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Black 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Italian 2% Romanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Chowan

• 2024 margin: Strong R (+22.5) · D 38.4% · R 60.9%
• 2008→2024 swing: -21.3pp toward R · 2008: -1.1pp · 2024: -22.5pp
• All cycles: 2024: R+22.5 2020: R+15.7 2016: R+14.3 2012: R+4.9 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.59%
• Current HPI: 172.7448
• 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

+400.0% since first listed

2 events — show timeline

• 2026-06-03 Listed $125,000 Hive MLS
• 2001-01-09 Sold (Public Records) $25,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $883 · +0.0% YoY. Source: county tax records.