293 Hickory St · East Rockingham, NC 28379

$135,000

2 bd · 1.0 ba · 1,310 sqft · SingleFamily public records · 108 Days on market

Built 1968 0.43 ac lot Est $157k · 14% under ↓ 7% 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 +26.4/30.0
• ARV discount +13.9/15.0
• DSCR +9.0/10.0
• 1% rule +5.8/10.0
• Livability +2.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Take a look at this beautifully maintained 2-bedroom, 1 full bath home offering nearly 1,300 heated square feet, all situated on a spacious half-acre lot. Lovingly cared for over the past 50 years, this home truly reflects pride of ownership. Inside, you'll find a generously sized living room, a cozy family room, and a convenient kitchen/dining combination--perfect for everyday living and entertaining. The home also features two comfortable bedrooms and a full bath. Step outside to enjoy the 1-car attached carport, multiple storage sheds for all your tools and hobbies, and a lovely patio area ideal for relaxing or gathering with friends and family. Whether you're a first-time homebuyer or l

Key facts

• Half-acre lot
• Attached carport
• Patio area

Tags

• HALF-ACRE LOT
• ATTACHED CARPORT
• MULTIPLE STORAGE SHEDS
• PATIO AREA

Property features AI

Exterior

• Parking: Has carport (1 space); Parking surfaces include gravel, concrete and unpaved
• Utilities: Natural gas available
• Home design: Single-family residence; One story; Entry level is 1
• Construction: Brick and frame construction; Shingle roof
• Exterior features: Patio; Shed(s), barn(s), storage and outbuilding(s); Has a view; No fencing

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Electric water heater; Crawl space basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#579 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Richmond County Schools (town): math 30% / reading 36% proficiency, ranked #139 of 178 in NC (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: East Rockingham Elementary (math 28% / reading 32%, grade F, #965 of 1,410 statewide, top 69%, 514 students, 99% FRL); Richmond Senior High (math 58% / reading 38%, grade D, #329 of 535 statewide, top 62%, 1,286 students, 99% FRL) — zoned schools average 99% FRL vs 70% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 155 active listings in the ZIP; 54 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Richmond County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 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 1968 — 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. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.20%
• DSCR: 1.50
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $157,200
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Airport Rd	0.57mi	3/1.0 (+1)	1,188 (-9%)	1mo	$135,000	$114	52
165 Crestway Dr	0.60mi	3/1.5 (+1)	1,370 (+5%)	13mo	$165,000	$120	47

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: 0.4%
• Equity multiple: 1.01×
• Total profit: $535
• Equity at exit: $20,129

10-year hold

• IRR: 10.0%
• Equity multiple: 1.77×
• Total profit: $29,153
• Equity at exit: $11,672

Cash invested: $37,800 (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 28379

• Home prices YoY: -32.4%
• Active inventory: 155
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$32 /mo · $388/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $353

Break-even live

Break-even rent $1,008

Max offer price $135,000

Occupancy floor 71%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $135,000 Active 108 DOM
2. 2026-06-18
   days on market $135,000 Active 107 DOM
3. 2026-06-17
   days on market $135,000 Active 106 DOM
4. 2026-06-16
   days on market $135,000 Active 105 DOM
5. 2026-06-15
   days on market $135,000 Active 104 DOM
6. 2026-06-14
   days on market $135,000 Active 102 DOM
7. 2026-06-13
   days on market $135,000 Active 101 DOM
8. 2026-06-10
   days on market $135,000 Active 99 DOM
9. 2026-06-09
   days on market $135,000 Active 98 DOM
10. 2026-06-08
    days on market $135,000 Active 97 DOM
11. 2026-06-07
    days on market $135,000 Active 96 DOM
12. 2026-06-05
    days on market $135,000 Active 93 DOM
13. 2026-06-03
    days on market $135,000 Active 92 DOM
14. 2026-06-02
    days on market $135,000 Active 91 DOM
15. 2026-06-01
    days on market $135,000 Active 90 DOM
16. 2026-05-31
    days on market $135,000 Active 89 DOM
17. 2026-05-30
    days on market $135,000 Active 88 DOM
18. 2026-05-19
    status Active
19. 2026-05-09
    historical Active Under Contract
20. 2026-05-05
    price $135,000
21. 2026-03-03
    listed $145,000 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: $388 · $32/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$719/yr (+$60/mo · 185.1%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $17,459
• − Mortgage interest: −$7,562
• − Property taxes: −$388
• − Insurance: −$675
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$3,927
• Taxable income: $2,113
• Est. tax owed @ 24.0%: −$507
• After-tax cash flow: $3,727/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: Richmond County Schools
• NCES district ID: 3703870
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $32,224
• Composite: 26.97/100
• National rank: #7076
• State rank: #139 of 178 in NC

Livability — East Rockingham

• Score: 58/100
• State rank: #579
• US rank: #21339

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Rockingham, NC
• Population (ZIP): 24,068

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 42,892 people
• By 2030: 41,257 · -3.8%
• By 2040: 37,629 · -12.3%
• By 2050: 33,655 · -21.5%
• By 2075: 23,992 · -44.1%
• By 2100: 14,782 · -65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 56% Black 32% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+20.9) · D 39.2% · R 60.1%
• 2008→2024 swing: -22.4pp toward R · 2008: 1.5pp · 2024: -20.9pp
• All cycles: 2024: R+20.9 2020: R+14.8 2016: R+10.1 2012: D+2.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.10%
• Current HPI: 203.0628
• 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

-6.9% since first listed

4 events — show timeline

• 2026-05-19 Relisted — Hive MLS
• 2026-05-09 Contingent — Hive MLS
• 2026-05-05 Price Changed $135,000 Hive MLS
• 2026-03-03 Listed $145,000 Hive MLS

Property tax history

+1.6%/yr

Latest (2025): $388 · -1.8% YoY. Source: county tax records.