603 E High St · Murfreesboro, NC 27855

$75,000

4 bd · 2.0 ba · 1,050 sqft · SingleFamily public records · 46 Days on market

Built 1940 8,712 sqft lot

---

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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Owned by The Secretary of Veterans Affairs. All offers must be submitted at vrmproperties.com. Agents must register as a User, enter the property address, and click on ''Start Offer''. This property may qualify for Seller Financing (Vendee). If property was built prior to 1978, Lead Based Paint Potentially Exists.

Key facts

• 8,712 sq ft lot
• Built 1940
• Listed 46 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#236 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D+, crime F, amenities F.
• Hertford County Schools (town): math 14% / reading 26% proficiency, ranked #171 of 178 in NC (top 96%) — 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: Riverview Elementary (math 8% / reading 22%, grade F, #1,325 of 1,410 statewide, top 94%, 344 students, 99% FRL); Hertford County Middle (math 6% / reading 26%, grade F, #455 of 475 statewide, top 96%, 536 students, 99% FRL); Hertford County High (math 12% / reading 12%, grade F, #518 of 535 statewide, top 97%, 573 students, 100% FRL) — zoned schools average 99% FRL vs 74% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 35 active listings in the ZIP; 5 units permitted in Hertford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($519 loan paydown + $4k appreciation (4.9% local appreciation)).
• Hertford County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. 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: 1.43% ✓
• Cap rate: 11.00%
• Cash-on-cash: 16.81%
• DSCR: 1.75
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $37,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1330 New St	0.72mi	4/1.0	976 (-7%)	13mo	$35,000	$36	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 2.70×
• Total profit: $35,755
• Equity at exit: $42,177

10-year hold

• IRR: 26.3%
• Equity multiple: 5.39×
• Total profit: $92,122
• Equity at exit: $72,526

Cash invested: $21,000 (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 27855

• Home prices YoY: 3.1%
• Active inventory: 35
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,073 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$129 /mo · $1,545/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $294

Break-even live

Break-even rent $700

Max offer price $75,000

Occupancy floor 68%

Sensitivity live

Price	-10% $337	-5% $315	+0% $294	+5% $273	+10% $252
Rent	-10% $209	-5% $252	+0% $294	+5% $337	+10% $379
Rate	-1.0pp $332	-0.5pp $313	base $294	+0.5pp $275	+1.0pp $255

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-23
   status Pending
2. 2026-03-11
   price $75,000
3. 2026-02-05
   listed $90,000 Active
4. 2012-06-14
   soldstatus $125,000
5. 2010-10-08
   historical
6. 2010-07-09
   listed $68,500

ⓘ 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: $1,545 · $129/mo
• Projected year-2 tax: $1,545 · $129/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°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: $12,874
• − Mortgage interest: −$4,201
• − Property taxes: −$1,545
• − Insurance: −$375
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$2,182
• Taxable income: $2,510
• Est. tax owed @ 24.0%: −$602
• After-tax cash flow: $2,928/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: Hertford County Schools
• NCES district ID: 3702160
• Math proficiency: 14% ▼ -3.00%
• Reading proficiency: 26% ▼ -1.00%
• Median HH income: $33,467
• Composite: 16.29/100
• National rank: #9213
• State rank: #171 of 178 in NC

Livability — Murfreesboro

• Score: 67/100
• State rank: #236
• US rank: #10779

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

• Census place: Murfreesboro, NC
• Population (ZIP): 5,635

Population outlook (Hertford County) Hauer SSP2

• Today (2025): 23,401 people
• By 2030: 22,708 · -3.0%
• By 2040: 21,227 · -9.3%
• By 2050: 19,942 · -14.8%
• By 2075: 17,844 · -23.7%
• By 2100: 15,148 · -35.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 29% Hispanic / Latino 10% Native American 3% Two or more races 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Hispanic 1% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Hertford

• 2024 margin: Strong D (+26.8) · D 63.0% · R 36.3%
• 2008→2024 swing: -14.8pp toward R · 2008: 41.5pp · 2024: 26.8pp
• All cycles: 2024: D+26.8 2020: D+34.0 2016: D+37.7 2012: D+44.3 2008: D+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.93%
• Current HPI: 162.9458
• 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

+9.5% since first listed

6 events — show timeline

• 2026-03-23 Pending — Hive MLS
• 2026-03-11 Price Changed $75,000 Hive MLS
• 2026-02-05 Listed $90,000 Hive MLS
• 2012-06-14 Sold (Public Records) $125,000 Public Records
• 2010-10-08 Listing Removed — Hive MLS
• 2010-07-09 Listed $68,500 Hive MLS

Property tax history

+2.3%/yr

Latest (2025): $1,545 · +0.0% YoY. Source: county tax records.