190 Payton Place Rd · Rockfish, NC 28357

$170,000

4 bd · 1.5 ba · 1,404 sqft · SingleFamily public records · 7 Days on market

Built 1972 0.66 ac lot ↓ 8% since listing

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Appreciation +5.6/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

* * * BACK ON THE MARKET – PRICE IMPROVEMENT! NO FAULT OF SELLER! * * * Buyer’s circumstances changed — now offered at an even better value. $8,000 CLOSING COST INCENTIVE with acceptable offer! All buyer-requested repairs completed — truly move-in ready. Beautifully updated 4BR home with major renovations done in 2025–2026, including roof, HVAC w/ ductwork, siding, water heater, insulation, well pump, and water filtration system. Interior features updated subflooring, flooring/carpet, drywall, electrical, recessed lighting, fixtures, doors, and fresh paint throughout. Renovated kitchen with updated cabinetry, countertops, backsplash, and stainless-steel

Key facts

• Move-in ready
• Fenced yard
• Major renovations

Tags

• MOVE-IN READY
• MAJOR RENOVATIONS
• UPDATED CABINETRY
• FENCED YARD
• FRESH LANDSCAPING

Property features AI

Exterior

• Utilities: Water from spring and well; Septic system with holding tank
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Wooded lot; Level topography

Interior

• Kitchen: Dishwasher; Refrigerator; Microwave; Electric range; Stainless steel appliances; Water heater
• Bedrooms: Total rooms: 8
• Flooring: Carpet; Vinyl; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air (electric); Ceiling fans; Electric forced air heating
• Interior features: Ceiling fans; Eat-in kitchen; Laminate countertops; Storage
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 9.8% vs local median 4.7% in Rockfish — 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 71/100 on livability (#108 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F.
• Hoke County Schools (suburban): math 35% / reading 40% proficiency, ranked #123 of 178 in NC (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sandy Grove Middle (math 32% / reading 44%, grade F, #251 of 475 statewide, top 54%, 645 students, 99% FRL); Hoke County High (math 42% / reading 44%, grade F, #372 of 535 statewide, top 69%, 2,060 students, 100% FRL) — zoned schools average 100% FRL vs 57% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 9 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 685 units permitted in Hoke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.1% local appreciation)).
• Hoke County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 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

• Climate carrying-cost: major wind risk, 78% 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 $170,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.12% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.45%
• DSCR: 1.55
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.75×
• Total profit: $35,698
• Equity at exit: $59,237

10-year hold

• IRR: 17.9%
• Equity multiple: 3.20×
• Total profit: $104,620
• Equity at exit: $79,659

Cash invested: $47,600 (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 28357

• Home prices YoY: 0.6%
• Active inventory: 9
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,900 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$45 /mo · $536/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $494

Break-even live

Break-even rent $1,275

Max offer price $170,000

Occupancy floor 69%

Sensitivity live

Price	-10% $590	-5% $542	+0% $494	+5% $446	+10% $398
Rent	-10% $344	-5% $419	+0% $494	+5% $569	+10% $644
Rate	-1.0pp $580	-0.5pp $537	base $494	+0.5pp $450	+1.0pp $405

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
157 Presley St Raeford, NC	3.0	2.0	1343	$1,900	$1.41	15d	1	1.45mi

Listing history 12 events

1. 2026-05-07
   status Pending
2. 2026-04-29
   listed $170,000 Active
3. 2026-04-03
   status Active
4. 2026-01-18
   status Pending
5. 2025-12-19
   listed $180,000 Active
6. 2025-11-19
   price $178,000
7. 2025-10-21
   listed $180,000 Active
8. 2025-09-01
   status Pending
9. 2025-08-17
   status Active
10. 2025-08-08
    status Pending
11. 2025-07-31
    price $180,000
12. 2025-07-27
    listed $185,000 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: $536 · $45/mo
• Projected year-2 tax: $1,394 · $116/mo
• Expected delta: +$858/yr (+$72/mo · 160.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $22,800
• − Mortgage interest: −$9,523
• − Property taxes: −$536
• − Insurance: −$850
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$4,945
• Taxable income: $3,298
• Est. tax owed @ 24.0%: −$792
• After-tax cash flow: $5,137/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: Hoke County Schools
• NCES district ID: 3702250
• Math proficiency: 35% ▼ -1.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $43,896
• Composite: 31.82/100
• National rank: #5880
• State rank: #123 of 178 in NC

Livability — Rockfish

• Score: 71/100
• State rank: #108
• US rank: #6802

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,599

Population outlook (Hoke County) Hauer SSP2

• Today (2025): 63,354 people
• By 2030: 68,361 · +7.9%
• By 2040: 78,074 · +23.2%
• By 2050: 86,384 · +36.4%
• By 2075: 99,517 · +57.1%
• By 2100: 98,939 · +56.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: White 40% Hispanic / Latino 25% Black 16% Native American 12% Two or more races 6%
• Hispanic origin (detail): Mexican 16% Puerto Rican 2% Cuban 2%
• Common ancestry: Portuguese 4% Lithuanian 2% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 76% English-only · Spanish 23% German/W. Germanic 1%

Political lean MEDSL · Hoke

• 2024 margin: Lean D (+5.9) · D 52.4% · R 46.4% · Other 1.2%
• 2008→2024 swing: -12.8pp toward R · 2008: 18.8pp · 2024: 5.9pp
• All cycles: 2024: D+5.9 2020: D+10.9 2016: D+10.8 2012: D+19.0 2008: D+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.14%
• Current HPI: 193.9893
• 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

-8.1% since first listed

12 events — show timeline

• 2026-05-07 Pending — LPRMLS
• 2026-04-29 Listed $170,000 LPRMLS
• 2026-04-03 Relisted — LPRMLS
• 2026-01-18 Pending — LPRMLS
• 2025-12-19 Listed $180,000 LPRMLS
• 2025-11-19 Price Changed $178,000 LPRMLS
• 2025-10-21 Listed $180,000 LPRMLS
• 2025-09-01 Pending — LPRMLS
• 2025-08-17 Relisted — LPRMLS
• 2025-08-08 Pending — LPRMLS
• 2025-07-31 Price Changed $180,000 LPRMLS
• 2025-07-27 Listed $185,000 LPRMLS

Property tax history

+0.9%/yr

Latest (2025): $536 · +0.0% YoY. Source: county tax records.