PEARCE Plan · Greenville, NC 27834

$225,990

3 bd · 2.5 ba · 1,424 sqft · Townhouse · 963 Days on market

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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 +13.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Listed 963 days

Property features AI

Finance

• Other: Address marketed as PEARCE Plan, Greenville, NC 27834
• Financial info: List price $225,990

Exterior

• Home design: Single-family home (PEARCE plan); Listed as Active
• Construction: New construction plan
• Exterior features: Living area approximately 1,424 (plan measurement)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan: PEARCE (new construction plan)

🏗️ New construction. The $225,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $223,568.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $226k.

Deal economics

• At list price, monthly cash flow is $17 ($200/yr) — positive.
• To cash-flow at today's rent, offer at most $226k (0.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (12.5% below list).
• Recommended offer: $198k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.8% in Greenville — 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 77/100 on livability (#30 in NC, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, employment F.
• Pitt County Schools (rural): math 41% / reading 44% proficiency, ranked #100 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lakeforest Elementary (math 22% / reading 30%, grade F, #1,085 of 1,410 statewide, top 77%, 804 students, 98% FRL); Farmville Middle (math 31% / reading 35%, grade F, #305 of 475 statewide, top 65%, 611 students, 100% FRL); Farmville Central High (math 42% / reading 47%, grade F, #352 of 535 statewide, top 68%, 789 students, 99% FRL) — zoned schools average 99% FRL vs 56% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 356 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).
• At $1,977/mo this rent would consume 48% of the median local household income ($49k/yr) (locally 3319% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Pitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 963 days — a 12% lower offer ($199k) is reasonable based on typical stale-listing flexibility.

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 $197,679 (12.5% below list)

Questions for the listing agent

1. It's been on market 963 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.88% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $223,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4109 Laurel Ridge Dr	0.09mi	3/2.5	1,502 (+6%)	0mo	$220,000	$146	86
2245 Sweet Bay Dr Unit A	0.23mi	3/2.0	1,408 (-1%)	1mo	$248,500	$176	84
2242 Sweet Bay Dr Unit A	0.23mi	3/2.0	1,430 (+0%)	4mo	$233,000	$163	83
4228 Laurel Ridge Dr Unit A	0.22mi	3/2.0	1,439 (+1%)	4mo	$265,000	$184	83
2128 Flagstone Ct Unit G1	0.52mi	3/2.5	1,426 (+0%)	0mo	$155,000	$109	75
2220 Brookville Dr Unit B	0.38mi	3/2.0	1,450 (+2%)	5mo	$225,000	$155	73
2220 Brookville Dr Unit A	0.38mi	3/2.0	1,450 (+2%)	5mo	$225,000	$155	73
2144 Flagstone Ct Unit K-1	0.56mi	3/2.5	1,452 (+2%)	1mo	$174,000	$120	70
2108 Flagstone Ct Unit B3	0.43mi	3/2.5	1,472 (+3%)	6mo	$175,000	$119	70
2224 S Kali Ln Unit B	0.47mi	3/2.5	1,537 (+8%)	2mo	$242,000	$157	63
2229 Sweet Bay Drive B	0.11mi	2/2.0 (-1)	1,222 (-14%)	2mo	$219,900	$180	63
2353 Dovedale Dr Unit B	0.71mi	3/3.0	1,612 (+13%)	2mo	$254,500	$158	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 · 5.44% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.52×
• Total profit: $-30,167
• Equity at exit: $33,335

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-3,338
• Equity at exit: $19,330

Cash invested: $62,599 (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 27834

• Rents YoY: 5.4%
• Active inventory: 356
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,977 high
• Mortgage (P&I): −$1,172
• Tax est. 1.5%: −$279 /mo · $3,354/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $17

Break-even live

Break-even rent $1,956

Max offer price $223,568

Occupancy floor 94%

Sensitivity live

Price	-10% $171	-5% $94	+0% $17	+5% $-61	+10% $-138
Rent	-10% $-140	-5% $-61	+0% $17	+5% $95	+10% $173
Rate	-1.0pp $129	-0.5pp $73	base $17	+0.5pp $-41	+1.0pp $-100

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: $55,892
• Closing costs: $6,707
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4511 Laurel Ridge Dr Unit B Greenville, NC	3.0	2.5	1619	$1,950	$1.20	23d	1	0.04mi
4129 Laurel Ridge Dr Unit F Greenville, NC	2.0	3.5	1050	$2,500	$2.38	23d	1	0.04mi
4129 Laurel Ridge Dr Greenville, NC	2.0	4.0	1050	$2,500	$2.38	23d	1	0.04mi
1005 Allen Ridge Dr Greenville, NC	2.0–3.0	2.0	1134	$1,999	$1.76	15d	13	0.32mi
2308 Sweet Bay Dr Unit B Greenville, NC	3.0	2.0	1446	$1,925	$1.33	23d	1	0.36mi
2221 Brookville Dr Unit B Greenville, NC	3.0	2.0	1508	$1,700	$1.13	23d	1	0.39mi
2152 Flagstone Ct Greenville, NC	2.0	1.5	1044	$1,150	$1.10	23d	1	0.49mi
2140 Flagstone Ct Unit J6 Greenville, NC	2.0	1.5	1043	$1,200	$1.15	23d	1	0.56mi
2500 Brookville Dr Greenville, NC	3.0	2.0	1423	$1,800	$1.26	15d	1	0.63mi
1951 Cambria Dr Unit B Greenville, NC	3.0	3.0	1552	$1,800	$1.16	23d	1	0.81mi
1548 Manning Forest Dr Unit M7 Greenville, NC	2.0	1.5	1094	$1,300	$1.19	15d	1	0.85mi
828 Sarah Rebecca Dr Greenville, NC	3.0	2.5	1636	$2,000	$1.22	23d	1	1.11mi
203 Shiloh Dr Unit E Greenville, NC	2.0	1.5	1000	$1,130	$1.13	23d	1	1.47mi

Listing history 17 events

1. 2026-06-21
   days on market $225,990 Active 963 DOM
2. 2026-06-19
   days on market $225,990 Active 961 DOM
3. 2026-06-18
   days on market $225,990 Active 960 DOM
4. 2026-06-17
   days on market $225,990 Active 959 DOM
5. 2026-06-16
   days on market $225,990 Active 958 DOM
6. 2026-06-15
   days on market $225,990 Active 957 DOM
7. 2026-06-13
   days on market $225,990 Active 954 DOM
8. 2026-06-10
   days on market $225,990 Active 952 DOM
9. 2026-06-09
   days on market $225,990 Active 951 DOM
10. 2026-06-08
    days on market $225,990 Active 950 DOM
11. 2026-06-07
    days on market $225,990 Active 949 DOM
12. 2026-06-05
    days on market $225,990 Active 946 DOM
13. 2026-06-03
    days on market $225,990 Active 945 DOM
14. 2026-06-02
    days on market $225,990 Active 944 DOM
15. 2026-06-01
    days on market $225,990 Active 943 DOM
16. 2026-05-31
    days on market $225,990 Active 942 DOM
17. 2026-05-30
    days on market $225,990 Active 941 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,721
• − Mortgage interest: −$12,523
• − Property taxes: −$3,354
• − Insurance: −$1,118
• − Repairs & maintenance: −$1,898
• − Management: −$1,898
• − Depreciation: −$6,504
• Taxable loss: −$3,572
• Est. tax savings @ 24.0%: +$857
• After-tax cash flow: $1,057/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: Pitt County Schools
• NCES district ID: 3700012
• Math proficiency: 41% ▬ 0.00%
• Reading proficiency: 44% ▲ 2.00%
• Median HH income: $40,631
• Composite: 35.67/100
• National rank: #4877
• State rank: #100 of 178 in NC

Livability — Greenville

• Score: 77/100
• State rank: #30
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NC
• County: Pitt County · 142,592 people
• City population: 115,121
• Metro: Greenville, NC
• Population (ZIP): 56,347
• Household income: $48,935
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 3319.0

Population outlook (Pitt County) Hauer SSP2

• Today (2025): 194,585 people
• By 2030: 203,756 · +4.7%
• By 2040: 220,807 · +13.5%
• By 2050: 236,614 · +21.6%
• By 2075: 275,940 · +41.8%
• By 2100: 300,058 · +54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 54% White 33% Hispanic / Latino 8% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · Pitt

• 2024 margin: Lean D (+6.0) · D 52.5% · R 46.5% · Other 1.1%
• 2008→2024 swing: -2.8pp toward R · 2008: 8.8pp · 2024: 6.0pp
• All cycles: 2024: D+6.0 2020: D+9.4 2016: D+7.4 2012: D+6.7 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.99%
• Current HPI: 190.6869
• Rent YoY: ▲ 5.44%
• Metro: Greenville, NC
• 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