115 S Franklin St · Whiteville, NC 28472

$109,000

3 bd · 2.0 ba · 1,926 sqft · SingleFamily public records · 196 Days on market

Built 1904 0.40 ac lot ↓ 5% since listing

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Why this score? — see what drove the C+ 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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

115 S FRANKLIN ST WHITEVILLE NC --- * * INVESTOR OPPORTUNITY * * --- 3 bedrooms 2 bathrooms, just over 1900 square feet on a large corner lot in town, convenient to schools, parks, hospital, churches, courthouse and just blocks away from downtown shopping and dining. .. .. interior includes: HUGE living room w/ partial lifted floor and built-in serving bar, formal dining room, breakfast or pet nook. .. .. exterior features: large wrap-around covered porch, back deck, detached building with plumbing and electric. .. .. primary needs: rebuild of portion of floor in kitchen and dining room, insulation and sheetrock to portion of living room walls, hvac (see photos). .. .. NOTES: measuremen

Key facts

• Breakfast nook
• Formal dining room
• Large corner lot

Tags

• LARGE CORNER LOT
• HUGE LIVING ROOM
• FORMAL DINING ROOM
• BREAKFAST NOOK
• WRAP-AROUND COVERED PORCH
• BACK DECK

Property features AI

Exterior

• Parking: No parking listed
• Utilities: Connected to public water; Connected to public sewer
• Home design: Single-family residence; 2 stories; Entry on level 1
• Construction: Vinyl siding and frame construction; Combination foundation and slab
• Exterior features: Covered wrap-around porch with deck; Shingle roof; Corner lot; Paved road access; City street and state road frontage; Has a view; Storage building; Workshop

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating specified; No cooling specified
• Interior features: Crawl space basement; 9 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.2% in Whiteville — 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 64/100 on livability (#361 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Whiteville City Schools (town): math 49% / reading 46% proficiency, ranked #81 of 178 in NC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Edgewood Elementary (math 49% / reading 43%, grade D-, #551 of 1,410 statewide, top 40%, 454 students, 99% FRL); Central Middle (math 46% / reading 45%, grade D+, #154 of 475 statewide, top 33%, 462 students, 99% FRL); Whiteville High (math 57% / reading 57%, grade C, #248 of 535 statewide, top 48%, 662 students, 99% FRL) — zoned schools average 99% FRL vs 74% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 115 active listings in the ZIP; 24 units permitted in Columbus County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Columbus County population projected at -19% 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• 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 $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — 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. 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: 1.16% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.83%
• DSCR: 1.53
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $290,826
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 N Franklin St	0.27mi	3/3.0	1,948 (+1%)	5mo	$299,000	$153	78
108 N Franklin St	0.12mi	3/2.0	2,169 (+13%)	1mo	$255,000	$118	72
310 N Franklin St	0.34mi	2/2.0 (-1)	1,874 (-3%)	11mo	$300,000	$160	65
112 S Thompson St	0.11mi	2/2.0 (-1)	1,680 (-13%)	14mo	$254,000	$151	57
217 E Virgil St	0.25mi	4/1.0 (+1)	1,710 (-11%)	17mo	$53,000	$31	46
557 Edgewood Cir	0.60mi	3/2.5	2,006 (+4%)	22mo	$360,000	$179	45
215 Garrell St	0.49mi	3/2.0	1,672 (-13%)	17mo	$95,000	$57	41

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: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,490
• Equity at exit: $16,252

10-year hold

• IRR: 10.9%
• Equity multiple: 1.85×
• Total profit: $25,917
• Equity at exit: $9,424

Cash invested: $30,520 (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 28472

• Home prices YoY: -5.2%
• Active inventory: 115
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,263 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$79 /mo · $953/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $301

Break-even live

Break-even rent $882

Max offer price $109,000

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $109,000 Active 196 DOM
2. 2026-06-17
   days on market $109,000 Active 195 DOM
3. 2026-06-16
   days on market $109,000 Active 194 DOM
4. 2026-06-15
   days on market $109,000 Active 193 DOM
5. 2026-06-13
   days on market $109,000 Active 191 DOM
6. 2026-06-12
   days on market $109,000 Active 190 DOM
7. 2026-06-09
   days on market $109,000 Active 187 DOM
8. 2026-06-08
   days on market $109,000 Active 186 DOM
9. 2026-06-07
   days on market $109,000 Active 185 DOM
10. 2026-06-07
    days on market $109,000 Active 184 DOM
11. 2026-06-04
    days on market $109,000 Active 181 DOM
12. 2026-06-02
    days on market $109,000 Active 180 DOM
13. 2026-06-01
    days on market $109,000 Active 179 DOM
14. 2026-05-31
    days on market $109,000 Active 178 DOM
15. 2026-05-23
    price $109,000
16. 2025-12-04
    listed $114,000 Active
17. 2005-04-10
    soldstatus $115,000

ⓘ 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: $953 · $79/mo
• Projected year-2 tax: $953 · $79/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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $15,151
• − Mortgage interest: −$6,106
• − Property taxes: −$953
• − Insurance: −$545
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$3,171
• Taxable income: $1,952
• Est. tax owed @ 24.0%: −$468
• After-tax cash flow: $3,143/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: Whiteville City Schools
• NCES district ID: 3704920
• Math proficiency: 49% ▲ 7.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $34,751
• Composite: 39.27/100
• National rank: #3999
• State rank: #81 of 178 in NC

Livability — Whiteville

• Score: 64/100
• State rank: #361
• US rank: #14254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whiteville, NC
• Population (ZIP): 17,833

Population outlook (Columbus County) Hauer SSP2

• Today (2025): 54,250 people
• By 2030: 52,378 · -3.5%
• By 2040: 48,226 · -11.1%
• By 2050: 44,103 · -18.7%
• By 2075: 35,271 · -35.0%
• By 2100: 26,909 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 32% Hispanic / Latino 4% Two or more races 3% Native American 2%
• Common ancestry: Serbian 1% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Columbus

• 2024 margin: Solid R (+33.9) · D 32.8% · R 66.7%
• 2008→2024 swing: -26.0pp toward R · 2008: -7.9pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+27.9 2016: R+22.1 2012: R+7.9 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.72%
• Current HPI: 252.022
• 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

-5.2% since first listed

3 events — show timeline

• 2026-05-23 Price Changed $109,000 Hive MLS
• 2025-12-04 Listed $114,000 Hive MLS
• 2005-04-10 Sold (Public Records) $115,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $953 · -12.5% YoY. Source: county tax records.