1659 Lyman Rd · Chinquapin, NC 28521

$49,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 23 Days on market

Built 1940 0.50 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Calling all investors!!! This property is full of potential and ready for your vision. Situated on approximately a half-acre lot in Chinquapin, NC. Featuring 2 bedrooms and 1 bathroom, the home has a functional layout with city water, septic system, and a roof installed in 2026. Property is being sold AS-IS and will require repairs and updates, making it an excellent opportunity for a fix-and-flip, rental investment, or renovation project. No HOA. Convenient location just 15 minutes from Wallace and approximately 30 minutes to Jacksonville.

Key facts

• Half-acre lot
• City water
• Convenient location

Tags

• HALF-ACRE LOT
• CITY WATER
• SEPTIC SYSTEM
• ROOF INSTALLED IN 2026
• NO HOA
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: Unpaved parking
• Utilities: Water available; Septic tank
• Home design: Single-family residence; One-story entry (ground level); One level total
• Construction: Vinyl siding and frame construction; Shingle roof
• Exterior features: Front porch; Rear porch; Paved road access

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Crawl space basement; Total of 5 rooms; Has a view

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $768 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $48k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Duplin County Schools (rural): math 23% / reading 32% proficiency, ranked #153 of 178 in NC (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Chinquapin Elementary (math 32% / reading 47%, grade F, #694 of 1,410 statewide, top 53%, 532 students, 99% FRL); East Duplin High (math 47% / reading 47%, grade D-, #334 of 535 statewide, top 64%, 861 students, 100% FRL) — zoned schools average 99% FRL vs 74% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 43% at this address vs 28% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Duplin County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 10 active listings in the ZIP; 134 units permitted in Duplin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($339 loan paydown + $3k appreciation (6.3% local appreciation)).
• Duplin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $49k implies a 308% 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: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,265 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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.
4. 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.
5. 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: 2.77% ✓
• Cap rate: 25.11%
• Cash-on-cash: 67.19%
• DSCR: 3.99
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 75.0%
• Equity multiple: 5.67×
• Total profit: $64,054
• Equity at exit: $31,842

10-year hold

• IRR: 71.9%
• Equity multiple: 11.92×
• Total profit: $149,860
• Equity at exit: $58,663

Cash invested: $13,720 (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 28521

• Home prices YoY: 2.1%
• Active inventory: 10
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,359 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$28 /mo · $333/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $768

Break-even live

Break-even rent $386

Max offer price $49,000

Occupancy floor 38%

Sensitivity live

Price	-10% $796	-5% $782	+0% $768	+5% $754	+10% $741
Rent	-10% $661	-5% $715	+0% $768	+5% $822	+10% $876
Rate	-1.0pp $793	-0.5pp $781	base $768	+0.5pp $756	+1.0pp $743

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $49,000 Active 23 DOM
2. 2026-06-19
   days on market $49,000 Active 21 DOM
3. 2026-06-18
   days on market $49,000 Active 20 DOM
4. 2026-06-17
   days on market $49,000 Active 19 DOM
5. 2026-06-16
   days on market $49,000 Active 18 DOM
6. 2026-06-15
   days on market $49,000 Active 17 DOM
7. 2026-06-14
   days on market $49,000 Active 15 DOM
8. 2026-06-13
   days on market $49,000 Active 14 DOM
9. 2026-06-10
   days on market $49,000 Active 12 DOM
10. 2026-06-09
    days on market $49,000 Active 11 DOM
11. 2026-06-09
    price $49,000 Active 10 DOM
12. 2026-06-08
    days on market $55,000 Active 10 DOM
13. 2026-06-07
    days on market $55,000 Active 9 DOM
14. 2026-06-05
    days on market $55,000 Active 6 DOM
15. 2026-06-03
    days on market $55,000 Active 5 DOM
16. 2026-06-02
    days on market $55,000 Active 4 DOM
17. 2026-06-01
    pricedays on market $55,000 Active 3 DOM
18. 2026-05-31
    days on market $65,000 Active 2 DOM
19. 2026-05-30
    remarks 546-char remark
20. 2026-05-30
    listed $65,000 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: $333 · $28/mo
• Projected year-2 tax: $402 · $33/mo
• Expected delta: +$69/yr (+$6/mo · 20.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,305
• − Mortgage interest: −$2,745
• − Property taxes: −$333
• − Insurance: −$245
• − Repairs & maintenance: −$1,304
• − Management: −$1,304
• − Depreciation: −$1,425
• Taxable income: $8,948
• Est. tax owed @ 24.0%: −$2,147
• After-tax cash flow: $7,072/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: Duplin County Schools
• NCES district ID: 3701200
• Math proficiency: 23% ▼ -5.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $34,900
• Composite: 22.66/100
• National rank: #8052
• State rank: #153 of 178 in NC

Livability — Chinquapin

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

Census & demographics

• Population (ZIP): 1,554

Population outlook (Duplin County) Hauer SSP2

• Today (2025): 57,701 people
• By 2030: 56,333 · -2.4%
• By 2040: 52,736 · -8.6%
• By 2050: 48,426 · -16.1%
• By 2075: 36,339 · -37.0%
• By 2100: 23,866 · -58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 12% Two or more races 8% Hispanic / Latino 6% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Duplin

• 2024 margin: Strong R (+28.9) · D 35.2% · R 64.2%
• 2008→2024 swing: -19.5pp toward R · 2008: -9.4pp · 2024: -28.9pp
• All cycles: 2024: R+28.9 2020: R+22.1 2016: R+19.2 2012: R+11.8 2008: R+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.33%
• Current HPI: 310.3811
• 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

+441.7% since first listed

2 events — show timeline

• 2026-05-29 Listed $65,000 Hive MLS
• 2001-08-07 Sold (Public Records) $12,000 Public Records

Property tax history

-0.7%/yr

Latest (2025): $333 · -18.7% YoY. Source: county tax records.