3147 NC Highway 33 W · Chocowinity, NC 27837

$154,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 30 Days on market

Built 2001

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Why this score? — see what drove the D- 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
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Schools +3.4/10.0
• Livability +3.0/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cozy 3 bedroom home with 2 bathrooms. Updated kitchen counters and cabinets. Updated bathroom counters. Barn with a lean-to located in back yard.

Key facts

• Back yard
• Barn with a lean-to
• Built 2001

Tags

• UPDATED KITCHEN COUNTERS
• UPDATED BATHROOM COUNTERS
• BARN WITH A LEAN-TO
• BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $154k.

Deal economics

• At list price, monthly cash flow is $16 ($189/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 $120k (21.8% below list).
• Recommended offer: $120k (21.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#561 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A-; Watch: housing C-, health & safety C-, schools D.
• Beaufort County Schools (rural): math 39% / reading 42% proficiency, ranked #112 of 178 in NC (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 116 active listings in the ZIP; 216 units permitted in Beaufort County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Beaufort County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago 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.
• Current owner paid $55k; list at $154k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $120,470 (21.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
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: 0.78% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.7%
• Equity multiple: 0.44×
• Total profit: $-24,012
• Equity at exit: $22,962

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-19,863
• Equity at exit: $13,315

Cash invested: $43,120 (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 27837

• Home prices YoY: -9.6%
• Active inventory: 116
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$808
• Tax from tax record: −$64 /mo · $770/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $16

Break-even live

Break-even rent $1,185

Max offer price $154,000

Occupancy floor 94%

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $154,000 Active 30 DOM
2. 2026-06-18
   days on market $154,000 Active 29 DOM
3. 2026-06-17
   days on market $154,000 Active 28 DOM
4. 2026-06-16
   days on market $154,000 Active 27 DOM
5. 2026-06-15
   days on market $154,000 Active 26 DOM
6. 2026-06-14
   days on market $154,000 Active 24 DOM
7. 2026-06-13
   days on market $154,000 Active 23 DOM
8. 2026-06-10
   days on market $154,000 Active 21 DOM
9. 2026-06-09
   days on market $154,000 Active 20 DOM
10. 2026-06-08
    days on market $154,000 Active 19 DOM
11. 2026-06-07
    days on market $154,000 Active 18 DOM
12. 2026-06-03
    days on market $154,000 Active 14 DOM
13. 2026-06-02
    days on market $154,000 Active 13 DOM
14. 2026-06-01
    days on market $154,000 Active 12 DOM
15. 2026-05-31
    days on market $154,000 Active 11 DOM
16. 2026-05-30
    days on market $154,000 Active 10 DOM
17. 2026-05-21
    listed $154,000 Active
18. 2019-01-10
    soldstatus $55,000
19. 2011-06-04
    historical
20. 2010-12-03
    listed $57,900
21. 2006-09-08
    soldstatus $50,000
22. 2006-08-30
    soldstatus $34,000
23. 2006-05-10
    soldstatus $42,000

ⓘ 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: $770 · $64/mo
• Projected year-2 tax: $1,263 · $105/mo
• Expected delta: +$492/yr (+$41/mo · 63.9%)

ⓘ 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 ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $14,456
• − Mortgage interest: −$8,626
• − Property taxes: −$770
• − Insurance: −$770
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$4,480
• Taxable loss: −$2,503
• Est. tax savings @ 24.0%: +$601
• After-tax cash flow: $790/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: Beaufort County Schools
• NCES district ID: 3700330
• Math proficiency: 39% ▬ 0.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $40,486
• Composite: 33.99/100
• National rank: #5320
• State rank: #112 of 178 in NC

Livability — Chocowinity

• Score: 59/100
• State rank: #561
• US rank: #20613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,537

Population outlook (Beaufort County) Hauer SSP2

• Today (2025): 47,069 people
• By 2030: 46,417 · -1.4%
• By 2040: 44,455 · -5.6%
• By 2050: 42,239 · -10.3%
• By 2075: 37,349 · -20.7%
• By 2100: 32,434 · -31.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 16% Black 11% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 12% Cuban 3%
• Common ancestry: Slovak 3% Romanian 1% Italian 1%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 11% Chinese 1%

Political lean MEDSL · Beaufort

• 2024 margin: Solid R (+31.1) · D 34.1% · R 65.2%
• 2008→2024 swing: -13.7pp toward R · 2008: -17.4pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+25.9 2016: R+24.5 2012: R+19.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.83%
• Current HPI: 186.5565
• 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

+266.7% since first listed

7 events — show timeline

• 2026-05-21 Listed $154,000 FSBO.com
• 2019-01-10 Sold (Public Records) $55,000 Public Records
• 2011-06-04 Listing Removed — Hive MLS
• 2010-12-03 Listed $57,900 Hive MLS
• 2006-09-08 Sold (Public Records) $50,000 Public Records
• 2006-08-30 Sold (Public Records) $34,000 Public Records
• 2006-05-10 Sold (Public Records) $42,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $770 · +30.2% YoY. Source: county tax records.