145 Riggs St · Jacksonville, NC 28540

$220,000

3 bd · 2.0 ba · 1,264 sqft · SingleFamily public records · 197 Days on market

Built 1973 0.48 ac lot Est $173k · 27% over

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Why this score? — see what drove the F 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 +13.9/30.0
• DSCR +4.2/10.0
• Schools +3.9/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold As Is

Key facts

• Move in ready
• Fenced backyard
• Outdoor living space

Tags

• MOVE IN READY
• FENCED BACKYARD
• OUTDOOR LIVING SPACE
• ROOM FOR GARDENING
• ROOF REPLACED

Property features AI

Finance

• Other: Property zoned RM-5; Lot approximately 0.48 acres (146 x 149 x 144 x 150); Road frontage on city street and state road; Frontage details: see remarks
• HOA & community: No association amenities

Exterior

• Parking: On-street parking available; On-site parking (no garage)
• Utilities: Public water; Septic tank sewer; Cable available
• Home design: Single family residence; One story
• Construction: Stone and wood siding exterior; Metal roof
• Exterior features: Patio; Chain link fencing around backyard; Shed(s)

Interior

• Kitchen: Electric oven; Range; Refrigerator
• Bedrooms: 5 total rooms (bedroom count not specified)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Furnished negotiable; Crawl space basement; Has a view
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $23 ($271/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 $166k (24.6% below list).
• Recommended offer: $166k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.4% in Jacksonville — 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 (#111 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blue Creek Elementary (math 42% / reading 47%, grade F, #574 of 1,410 statewide, top 43%, 490 students, 66% FRL); Southwest Middle (math 22% / reading 42%, grade F, #317 of 475 statewide, top 68%, 527 students, 64% FRL); Southwest High (math 52% / reading 47%, grade D, #311 of 535 statewide, top 60%, 702 students, 54% FRL) — zoned schools average 61% FRL vs 37% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 380 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($66k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $220k implies a 1660% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,936 (24.6% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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: 0.75% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $173,168
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Jonathan Dr	0.31mi	2/1.0 (-1)	1,356 (+7%)	10mo	$185,500	$137	56

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 · 4.47% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.48×
• Total profit: $-31,840
• Equity at exit: $32,803

10-year hold

• IRR: -3.7%
• Equity multiple: 0.74×
• Total profit: $-15,823
• Equity at exit: $19,022

Cash invested: $61,600 (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 28540

• Home prices YoY: -21.5%
• Rents YoY: 4.5%
• Active inventory: 380
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,659 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $23

Break-even live

Break-even rent $1,631

Max offer price $220,000

Occupancy floor 94%

Sensitivity live

Price	-10% $147	-5% $85	+0% $23	+5% $-40	+10% $-102
Rent	-10% $-109	-5% $-43	+0% $23	+5% $88	+10% $154
Rate	-1.0pp $133	-0.5pp $79	base $23	+0.5pp $-34	+1.0pp $-92

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Heritage Ct Jacksonville, NC	3.0	2.0	1553	$1,750	$1.13	22d	1	1.14mi
94 Vandergrift Dr Jacksonville, NC	4.0	2.0	1456	$1,600	$1.10	14d	1	1.21mi

Listing history 24 events

1. 2026-06-19
   days on market $220,000 Active 197 DOM
2. 2026-06-18
   days on market $220,000 Active 196 DOM
3. 2026-06-17
   days on market $220,000 Active 195 DOM
4. 2026-06-16
   days on market $220,000 Active 194 DOM
5. 2026-06-15
   days on market $220,000 Active 193 DOM
6. 2026-06-14
   days on market $220,000 Active 191 DOM
7. 2026-06-13
   days on market $220,000 Active 190 DOM
8. 2026-06-10
   days on market $220,000 Active 188 DOM
9. 2026-06-09
   days on market $220,000 Active 187 DOM
10. 2026-06-09
    days on market $220,000 Active 186 DOM
11. 2026-06-07
    days on market $220,000 Active 185 DOM
12. 2026-06-03
    days on market $220,000 Active 181 DOM
13. 2026-06-02
    days on market $220,000 Active 180 DOM
14. 2026-06-01
    days on market $220,000 Active 179 DOM
15. 2026-05-31
    days on market $220,000 Active 178 DOM
16. 2026-05-30
    days on market $220,000 Active 177 DOM
17. 2026-05-21
    price $220,000
18. 2026-02-28
    price $230,000
19. 2026-01-21
    price $250,000
20. 2025-12-04
    listed $260,000 Active
21. 2016-08-22
    soldstatus $12,500 10-char remark

    Show marketing remark (10 chars)

    Sold As Is

22. 2016-05-16
    listed $14,900 10-char remark

    Show marketing remark (10 chars)

    Sold As Is

23. 2016-04-21
    historical
24. 2016-02-21
    listed $25,000

ⓘ 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: $515 · $43/mo
• Projected year-2 tax: $1,804 · $150/mo
• Expected delta: +$1,289/yr (+$107/mo · 250.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,912
• − Mortgage interest: −$12,323
• − Property taxes: −$515
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$6,400
• Taxable loss: −$3,613
• Est. tax savings @ 24.0%: +$867
• After-tax cash flow: $1,138/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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Jacksonville

• Score: 71/100
• State rank: #111
• US rank: #6991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Onslow County · 164,453 people
• City population: 96,397
• Metro: Jacksonville, NC
• Population (ZIP): 49,141
• Household income: $65,625
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1304.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 62% Black 14% Hispanic / Latino 14% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6%
• Common ancestry: Italian 3% Serbian 2% Romanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 90% English-only · Spanish 7% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.11%
• Current HPI: 219.5571
• Rent YoY: ▲ 4.47%
• Metro: Jacksonville, 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

+780.0% since first listed

8 events — show timeline

• 2026-05-21 Price Changed $220,000 Hive MLS
• 2026-02-28 Price Changed $230,000 Hive MLS
• 2026-01-21 Price Changed $250,000 Hive MLS
• 2025-12-04 Listed $260,000 Hive MLS
• 2016-08-22 Sold (MLS) $12,500 Hive MLS
• 2016-05-16 Listed $14,900 Hive MLS
• 2016-04-21 Listing Removed — Hive MLS
• 2016-02-21 Listed $25,000 Hive MLS

Property tax history

-0.4%/yr

Latest (2025): $515 · +0.0% YoY. Source: county tax records.