303 Elba St E · Wilson, NC 27893

$38,000

2 bd · 1.0 ba · 756 sqft · SingleFamily public records · 101 Days on market

Built 1940 3,049 sqft lot Est $69k · 45% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.3/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity located in the heart of downtown fast-growing Wilson. Perfect property flipping. Must see to appreciate. Seller would prefer package sale with 804 Vance street.

Key facts

• 3,049 sq ft lot
• Built 1940
• Listed 100 days

Property features AI

Finance

• Other: Lot size approximately 0.07 acres (3,049 sq ft); Frontage/road: city street, paved and publicly maintained
• HOA & community: No association

Exterior

• Parking: Parking: see remarks
• Utilities: Public water; Public sewer; Cable available and connected; Electricity connected; Phone available and connected; Water connected; Sewer connected
• Home design: One-story house; No common walls (standalone); Living area reported as 750 square feet
• Construction: Wood siding exterior; Block foundation; Shingle roof; Built as a house (structure type recorded)
• Exterior features: Covered porch; No fencing; No additional exterior structures listed; Vegetation: other

Interior

• Kitchen: No appliances listed
• Bedrooms: Two bedrooms (both on the main level)
• Flooring: No flooring details listed
• Bathrooms: One full bathroom
• Heating & cooling: Heating present (details: other/see remarks); No central cooling listed
• Interior features: See remarks for additional interior details
• Laundry & utility: Laundry details: see remarks

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $638 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $35k (9.0% below list) — sets the bar for market timing.
• Cap rate 26.4% vs local median 3.4% in Wilson — 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 64/100 on livability (#374 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime F, amenities F, commute F.
• Wilson County Schools (rural): math 38% / reading 40% proficiency, ranked #119 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frederick Douglass Elementary (math 42% / reading 37%, grade F, #694 of 1,410 statewide, top 53%, 357 students, 99% FRL) — zoned schools average 99% FRL vs 58% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.0%/yr); 261 active listings in the ZIP; lower-income renter base — watch delinquency; 580 units permitted in Wilson County in 2024 (168 in 5+ unit buildings).
• This rent runs 31% of the median local income ($43k/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 $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wilson County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $38k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $34,580 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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 1940 — 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. 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?
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: 2.95% ✓
• Cap rate: 26.44%
• Cash-on-cash: 71.94%
• DSCR: 4.20
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $68,796
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
902 Washington St E	0.17mi	2/1.0	792 (+5%)	10mo	$120,000	$152	76
112 East St E	0.18mi	2/1.0	823 (+9%)	10mo	$119,000	$145	69
1024 Faison St E	0.41mi	2/1.0	800 (+6%)	5mo	$72,500	$91	67
1324 Carolina St E	0.45mi	1/1.0 (-1)	724 (-4%)	10mo	$37,500	$52	58
912 Atlantic St E	0.23mi	2/1.0	869 (+15%)	7mo	$35,000	$40	58
720 Crowell St E	0.13mi	1/1.0 (-1)	682 (-10%)	18mo	$20,000	$29	57
501 Blakewood St E	0.39mi	2/1.0	800 (+6%)	21mo	$85,000	$106	54
700 Black Creek Rd SE	0.65mi	2/1.0	749 (-1%)	21mo	$132,500	$177	51
1010 Wainwright Ave SE	0.46mi	1/1.0 (-1)	700 (-7%)	15mo	$44,900	$64	49
327 Finch St SE	0.55mi	2/1.0	730 (-3%)	24mo	$60,000	$82	49
704 Black Creek Rd SE	0.66mi	2/1.0	704 (-7%)	20mo	$160,000	$227	40
1614 Queen St E	0.64mi	2/1.0	842 (+11%)	20mo	$34,000	$40	34

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 · 7.01% rent growth · sell at horizon

5-year hold

• IRR: 76.1%
• Equity multiple: 4.68×
• Total profit: $39,191
• Equity at exit: $5,666

10-year hold

• IRR: 80.8%
• Equity multiple: 11.10×
• Total profit: $107,485
• Equity at exit: $3,286

Cash invested: $10,640 (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 27893

• Rents YoY: 7.0%
• Active inventory: 261
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$34 /mo · $409/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $638

Break-even live

Break-even rent $315

Max offer price $38,000

Occupancy floor 38%

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $38,000 Active 101 DOM
2. 2026-06-18
   days on market $38,000 Active 100 DOM
3. 2026-06-17
   days on market $38,000 Active 99 DOM
4. 2026-06-16
   days on market $38,000 Active 98 DOM
5. 2026-06-15
   days on market $38,000 Active 97 DOM
6. 2026-06-14
   days on market $38,000 Active 95 DOM
7. 2026-06-13
   days on market $38,000 Active 94 DOM
8. 2026-06-10
   days on market $38,000 Active 92 DOM
9. 2026-06-09
   days on market $38,000 Active 91 DOM
10. 2026-06-08
    days on market $38,000 Active 90 DOM
11. 2026-06-07
    days on market $38,000 Active 89 DOM
12. 2026-06-05
    days on market $38,000 Active 86 DOM
13. 2026-06-03
    days on market $38,000 Active 85 DOM
14. 2026-06-02
    days on market $38,000 Active 84 DOM
15. 2026-06-01
    days on market $38,000 Active 83 DOM
16. 2026-05-31
    days on market $38,000 Active 82 DOM
17. 2026-05-30
    days on market $38,000 Active 81 DOM
18. 2026-03-10
    listed $38,000 Active
19. 2024-01-22
    soldstatus $19,500
20. 2022-11-30
    soldstatus $30,000

ⓘ 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: $409 · $34/mo
• Projected year-2 tax: $409 · $34/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,475
• − Mortgage interest: −$2,129
• − Property taxes: −$409
• − Insurance: −$190
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$1,105
• Taxable income: $7,486
• Est. tax owed @ 24.0%: −$1,797
• After-tax cash flow: $5,858/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: Wilson County Schools
• NCES district ID: 3705020
• Math proficiency: 38% ▲ 2.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $39,342
• Composite: 32.64/100
• National rank: #5665
• State rank: #119 of 178 in NC

Livability — Wilson

• Score: 64/100
• State rank: #374
• US rank: #14674

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilson, NC
• County: Wilson County · 57,967 people
• City population: 57,967
• Metro: Wilson, NC
• Population (ZIP): 38,512
• Household income: $42,810
• Rent vs Own: 55.8% rent · 44.2% own
• Severe rent burden: 2175.0

Population outlook (Wilson County) Hauer SSP2

• Today (2025): 82,765 people
• By 2030: 82,492 · -0.3%
• By 2040: 81,054 · -2.1%
• By 2050: 78,610 · -5.0%
• By 2075: 71,865 · -13.2%
• By 2100: 62,792 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 55% White 27% Hispanic / Latino 16% Two or more races 5%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Serbian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Wilson

• 2024 margin: Toss-up / Even · D 49.8% · R 49.4%
• 2008→2024 swing: -5.7pp toward R · 2008: 6.1pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+2.9 2016: D+5.6 2012: D+7.3 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -149.54%
• Current HPI: 211.4136
• Rent YoY: ▲ 7.01%
• Metro: Wilson, 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

+26.7% since first listed

3 events — show timeline

• 2026-03-10 Listed $38,000 TMLS
• 2024-01-22 Sold (Public Records) $19,500 Public Records
• 2022-11-30 Sold (Public Records) $30,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $409 · +0.0% YoY. Source: county tax records.