110 N Grove Ave · Rockingham, NC 28379

$149,500

3 bd · 1.0 ba · 1,573 sqft · SingleFamily public records · 73 Days on market

Built 1951 Est $206k · 27% under

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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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +5.7/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

CURRENTLY TENANT OCCUPIED in the heart of Rockingham community, and conveniently located to shopping. .. . This 3BR/1BA ranch style home also features a finished bonus room and private office upstairs. Updated flooring, appliances, some new windows throughout. The roof was replaced in 2023. New HVAC system installed in 2024. Property being sold "AS IS" This home delivers the perfect blend of charm, efficiency, and flexibility. The finished bonus room provides extra space rarely found in cottage-style homes, while the single-level layout keeps daily living simple and accessible. Whether a first-time buyer, investor, downsizer, or anyone seeking a cozy home with personality, this p

Key facts

• Finished bonus room
• Updated flooring
• Roof replaced

Tags

• FINISHED BONUS ROOM
• PRIVATE OFFICE UPSTAIRS
• UPDATED FLOORING
• NEW WINDOWS
• ROOF REPLACED
• NEW HVAC SYSTEM

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Located in the Rockingham subdivision
• Construction: Brick construction
• Exterior features: Level lot

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Free-standing range; Free-standing refrigerator
• Bedrooms: Total rooms: 6
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Ceiling fan cooling
• Interior features: Ceiling fans throughout; Fireplace (see remarks)
• Laundry & utility: Washer hookup in unit; Crawl space

🏷️ Possibly a rental listed for sale. The $149,500 price doesn't fit this home's estimated sale value (~$206,063) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 6.0% in Rockingham — 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 63/100 on livability (#403 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: crime F, amenities F, commute F.
• Richmond County Schools (town): math 30% / reading 36% proficiency, ranked #139 of 178 in NC (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Richmond Senior High (math 58% / reading 38%, grade D, #329 of 535 statewide, top 62%, 1,286 students, 99% FRL) — zoned schools average 99% FRL vs 70% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 48% at this address vs 33% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Richmond County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 155 active listings in the ZIP; 54 units permitted in Richmond 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 $4k of value loss. Plan a longer hold.
• Richmond County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 4y 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 $71k; list at $150k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $206,063
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1507 Fayetteville Rd	0.30mi	3/1.0	1,659 (+6%)	3mo	$119,000	$72	74
1604 E Washington St	0.30mi	3/1.0	1,456 (-7%)	6mo	$114,000	$78	69
1611 Summit Dr	0.32mi	3/2.0	1,487 (-6%)	7mo	$195,000	$131	66
116 Brook Leigh Dr	0.21mi	2/2.0 (-1)	1,591 (+1%)	16mo	$325,000	$204	66
1418 Carolina Dr	0.55mi	3/2.0	1,630 (+4%)	4mo	$221,000	$136	61
201 S Brookwood Ave	0.16mi	2/1.5 (-1)	1,344 (-15%)	4mo	$65,000	$48	58
1907 Anthony Ave	0.60mi	3/2.0	1,684 (+7%)	0mo	$130,000	$77	56
1306 Carolina Dr	0.33mi	3/2.0	1,704 (+8%)	14mo	$145,000	$85	55
1206 Lancaster Ln	0.45mi	4/2.0 (+1)	1,776 (+13%)	2mo	$295,000	$166	47
431 Curtis Dr	0.68mi	3/2.0	1,567 (-0%)	22mo	$270,000	$172	46
1817 Fayetteville Rd	0.57mi	2/1.5 (-1)	1,367 (-13%)	6mo	$150,000	$110	40
313 Mcarthur Dr	0.66mi	3/2.0	1,337 (-15%)	4mo	$195,000	$146	37

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,530
• Equity at exit: $22,291

10-year hold

• IRR: 8.7%
• Equity multiple: 1.66×
• Total profit: $27,735
• Equity at exit: $12,926

Cash invested: $41,860 (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 28379

• Home prices YoY: -32.4%
• Active inventory: 155
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,594 medium
• Mortgage (P&I): −$784
• Tax from tax record: −$55 /mo · $665/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $357

Break-even live

Break-even rent $1,141

Max offer price $149,500

Occupancy floor 73%

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-05-14
   status Pending
2. 2026-03-02
   listed $149,500 Active
3. 2025-06-04
   status Active
4. 2025-06-04
   price $149,400
5. 2025-05-30
   status Pending
6. 2025-04-01
   status Active
7. 2024-11-17
   listed $149,500 Active
8. 2024-11-16
   historical
9. 2024-06-10
   price $159,000
10. 2024-05-28
    status Active
11. 2024-05-01
    status Pending
12. 2024-04-22
    listed $169,500 Active
13. 2024-03-05
    price $159,500
14. 2024-03-05
    price $159,500
15. 2024-02-21
    price $169,000
16. 2024-02-21
    price $169,000
17. 2024-02-12
    price $171,500
18. 2024-02-12
    price $171,500
19. 2024-01-12
    price $172,000
20. 2024-01-12
    price $172,000
21. 2024-01-07
    status Active
22. 2023-11-01
    status Pending
23. 2023-10-20
    historical Active Under Contract
24. 2023-10-13
    listed $177,000 Active
25. 2023-09-27
    historical
26. 2023-05-11
    soldstatus $71,000 Closed
27. 2023-05-11
    soldstatus $71,000
28. 2023-04-22
    status Pending
29. 2023-03-04
    status Active
30. 2023-03-04
    price $72,900
31. 2023-02-16
    historical
32. 2023-01-23
    price $82,900
33. 2022-11-29
    status Active
34. 2022-09-08
    listed $92,900 Active

ⓘ 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: $665 · $55/mo
• Projected year-2 tax: $1,226 · $102/mo
• Expected delta: +$561/yr (+$47/mo · 84.4%)

ⓘ 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 7/10 Severe 7 d/yr ≥109°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $19,123
• − Mortgage interest: −$8,374
• − Property taxes: −$665
• − Insurance: −$748
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − Depreciation: −$4,349
• Taxable income: $1,927
• Est. tax owed @ 24.0%: −$463
• After-tax cash flow: $3,824/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: Richmond County Schools
• NCES district ID: 3703870
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $32,224
• Composite: 26.97/100
• National rank: #7076
• State rank: #139 of 178 in NC

Livability — Rockingham

• Score: 63/100
• State rank: #403
• US rank: #15356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockingham, NC
• Population (ZIP): 24,068

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 42,892 people
• By 2030: 41,257 · -3.8%
• By 2040: 37,629 · -12.3%
• By 2050: 33,655 · -21.5%
• By 2075: 23,992 · -44.1%
• By 2100: 14,782 · -65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 56% Black 32% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+20.9) · D 39.2% · R 60.1%
• 2008→2024 swing: -22.4pp toward R · 2008: 1.5pp · 2024: -20.9pp
• All cycles: 2024: R+20.9 2020: R+14.8 2016: R+10.1 2012: D+2.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.10%
• Current HPI: 203.0628
• 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

+60.9% since first listed

34 events — show timeline

• 2026-05-14 Pending — LPRMLS
• 2026-03-02 Listed $149,500 LPRMLS
• 2025-06-04 Relisted — LPRMLS
• 2025-06-04 Price Changed $149,400 LPRMLS
• 2025-05-30 Pending — LPRMLS
• 2025-04-01 Relisted — LPRMLS
• 2024-11-17 Listed $149,500 LPRMLS
• 2024-11-16 Coming Soon — LPRMLS
• 2024-06-10 Price Changed $159,000 LPRMLS
• 2024-05-28 Relisted — LPRMLS
• 2024-05-01 Pending — LPRMLS
• 2024-04-22 Listed $169,500 LPRMLS
• 2024-03-05 Price Changed $159,500 Triad MLS
• 2024-03-05 Price Changed $159,500 CANOPYMLS as Distributed by MLS Grid
• 2024-02-21 Price Changed $169,000 Triad MLS
• 2024-02-21 Price Changed $169,000 CANOPYMLS as Distributed by MLS Grid
• 2024-02-12 Price Changed $171,500 Triad MLS
• 2024-02-12 Price Changed $171,500 CANOPYMLS as Distributed by MLS Grid
• 2024-01-12 Price Changed $172,000 Triad MLS
• 2024-01-12 Price Changed $172,000 CANOPYMLS as Distributed by MLS Grid
• 2024-01-07 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2023-11-01 Pending — CANOPYMLS as Distributed by MLS Grid
• 2023-10-20 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-10-13 Listed $177,000 CANOPYMLS as Distributed by MLS Grid
• 2023-09-27 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2023-05-11 Sold (Public Records) $71,000 Public Records
• 2023-05-11 Sold (MLS) $71,000 Hive MLS
• 2023-04-22 Pending — Hive MLS
• 2023-03-04 Relisted — Hive MLS
• 2023-03-04 Price Changed $72,900 Hive MLS
• 2023-02-16 Listing Removed — Hive MLS
• 2023-01-23 Price Changed $82,900 Hive MLS
• 2022-11-29 Relisted — Hive MLS
• 2022-09-08 Listed $92,900 Hive MLS

Property tax history

+3.4%/yr

Latest (2025): $665 · -2.1% YoY. Source: county tax records.