209 Greenacres Rd · Snow Hill, NC 28580

$115,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 68 Days on market

Built 1979 0.45 ac lot Est $167k · 31% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• Appreciation +6.5/10.0
• DSCR +4.1/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Affordable opportunity in Snow Hill! This 3-bedroom, 1-bath home offers great potential for buyers looking to build equity or add to their portfolio. Featuring a 1-car attached carport and a newer HVAC system (approx. 2 years old), this property already has key updates in place. With a functional layout and solid foundation, it's the perfect chance to customize and add value. Conveniently located within easy driving distance to Greenville, Goldsboro, and Kinston, making it ideal for commuters or long-term rental potential. Strong rental demand in the area adds to the appeal. Whether you're looking for your first home or your next project, this is one you don't want to miss!

Key facts

• Strong rental demand
• Solid foundation
• Functional layout

Tags

• 1 CAR ATTACHED CARPORT
• NEWER HVAC SYSTEM
• FUNCTIONAL LAYOUT
• SOLID FOUNDATION
• CONVENIENTLY LOCATED
• STRONG RENTAL DEMAND

Property features AI

Finance

• Other: Lot approximately 0.45 acres
• HOA & community: No homeowners association

Exterior

• Parking: Carport with 1 covered space
• Utilities: Septic tank sewer; Other water source
• Home design: Single-story house
• Construction: Brick construction; Shingle roof
• Exterior features: Paved, publicly maintained road access; Directions: Leaving Snow on 58 South, turn right on Green Acres Rd; home down 1/2 mile on the left

Interior

• Bedrooms: 3 bedrooms total (1 on the main level)
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating with heat pump; Central air conditioning
• Interior features: Laminate and tile flooring; One-level living

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-60 ($-725/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (9.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (20.2% below list).
• Recommended offer: $92k (20.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#319 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: schools F, amenities F, commute F.
• Greene County Schools (rural): math 25% / reading 32% proficiency, ranked #151 of 178 in NC (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 35 active listings in the ZIP; 52 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (2.9% local appreciation)).
• Greene County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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 $67k; list at $115k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $91,769 (20.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $167,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
138 Sugg Dr	0.22mi	3/1.0	1,049 (+5%)	15mo	$175,000	$167	69

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

Projected returns pro-forma

2.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.30×
• Total profit: $9,575
• Equity at exit: $51,242

10-year hold

• IRR: 8.3%
• Equity multiple: 2.24×
• Total profit: $40,053
• Equity at exit: $78,608

Cash invested: $32,200 (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 28580

• Home prices YoY: 1.5%
• Active inventory: 35
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $918 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$68 /mo · $815/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $-60

Break-even live

Break-even rent $994

Max offer price $104,328

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-28	+0% $-60	+5% $-93	+10% $-126
Rent	-10% $-133	-5% $-97	+0% $-60	+5% $-24	+10% $12
Rate	-1.0pp $-2	-0.5pp $-31	base $-60	+0.5pp $-90	+1.0pp $-121

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-10
   days on market $115,000 Active 68 DOM
2. 2026-06-09
   days on market $115,000 Active 67 DOM
3. 2026-06-08
   days on market $115,000 Active 66 DOM
4. 2026-06-07
   days on market $115,000 Active 65 DOM
5. 2026-06-05
   days on market $115,000 Active 62 DOM
6. 2026-06-03
   days on market $115,000 Active 61 DOM
7. 2026-06-02
   days on market $115,000 Active 60 DOM
8. 2026-06-01
   days on market $115,000 Active 59 DOM
9. 2026-05-31
   days on market $115,000 Active 58 DOM
10. 2026-05-30
    days on market $115,000 Active 57 DOM
11. 2026-04-03
    listed $115,000 Active
12. 2026-03-27
    listed $115,000 Active 682-char remark

    Show marketing remark (682 chars)

    Affordable opportunity in Snow Hill! This 3-bedroom, 1-bath home offers great potential for buyers looking to build equity or add to their portfolio. Featuring a 1-car attached carport and a newer HVAC system (approx. 2 years old), this property already has key updates in place. With a functional layout and solid foundation, it's the perfect chance to customize and add value. Conveniently located within easy driving distance to Greenville, Goldsboro, and Kinston, making it ideal for commuters or long-term rental potential. Strong rental demand in the area adds to the appeal. Whether you're looking for your first home or your next project, this is one you don't want to miss!

13. 2021-07-31
    historical
14. 2021-07-05
    listed $84,900
15. 2017-09-29
    soldstatus $67,000
16. 2017-09-29
    soldstatus $67,000
17. 2017-05-24
    listed $78,000
18. 2017-03-29
    historical
19. 2016-05-23
    listed $79,500

ⓘ 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: $815 · $68/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$128/yr (+$11/mo · 15.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°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: $11,012
• − Mortgage interest: −$6,442
• − Property taxes: −$815
• − Insurance: −$1,372
• − Repairs & maintenance: −$881
• − Management: −$881
• − Depreciation: −$3,345
• Taxable loss: −$2,725
• Est. tax savings @ 24.0%: +$654
• After-tax cash flow: $-71/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: Greene County Schools
• NCES district ID: 3701830
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 32% ▲ 2.00%
• Median HH income: $38,566
• Composite: 23.84/100
• National rank: #7806
• State rank: #151 of 178 in NC

Livability — Snow Hill

• Score: 65/100
• State rank: #319
• US rank: #13179

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 12,048
• Population (ZIP): 12,048

Population outlook (Greene County) Hauer SSP2

• Today (2025): 21,070 people
• By 2030: 20,745 · -1.5%
• By 2040: 19,582 · -7.1%
• By 2050: 18,104 · -14.1%
• By 2075: 14,181 · -32.7%
• By 2100: 9,573 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 42% Black 36% Hispanic / Latino 14% Two or more races 13%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Italian 2% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Greene

• 2024 margin: R (+18.1) · D 40.7% · R 58.8%
• 2008→2024 swing: -12.2pp toward R · 2008: -5.9pp · 2024: -18.1pp
• All cycles: 2024: R+18.1 2020: R+11.9 2016: R+9.8 2012: R+7.7 2008: R+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.93%
• Current HPI: 197.4523
• 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

+44.7% since first listed

9 events — show timeline

• 2026-04-03 Listed $115,000 TMLS
• 2026-03-27 Listed $115,000 Hive MLS
• 2021-07-31 Listing Removed — Hive MLS
• 2021-07-05 Listed $84,900 Hive MLS
• 2017-09-29 Sold (Public Records) $67,000 Public Records
• 2017-09-29 Sold (MLS) $67,000 Hive MLS
• 2017-05-24 Listed $78,000 Hive MLS
• 2017-03-29 Listing Removed — Hive MLS
• 2016-05-23 Listed $79,500 Hive MLS

Property tax history

+7.5%/yr

Latest (2025): $815 · +1.2% YoY. Source: county tax records.