199 Hannah Pickett Ave · East Rockingham, NC 28379

$72,900

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 165 Days on market

Built 1943 0.51 ac lot Est $100k · 27% under ↓ 9% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute older 2 bedroom 1 bath home. Home freatures a large lot and a concrete pad already in place for an additional building. New windows recently installed.

Key facts

• Large lot
• New windows
• 0.51 acre lot

Tags

• LARGE LOT
• NEW WINDOWS

Property features AI

Finance

• Financial info: Annual tax shown

Exterior

• Parking: No designated parking
• Utilities: Natural gas connected; Water connected
• Home design: Single-family residence; One level
• Construction: Asbestos construction materials; Block foundation; Built with a composition roof
• Exterior features: Covered porch; Partial fencing; Composition roof; Has a view; Paved road frontage; Frontage on city street and state road; Lot approximately 0.51 acres (100 x 220)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Ceiling fan(s); Pantry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#579 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment 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: East Rockingham Elementary (math 28% / reading 32%, grade F, #965 of 1,410 statewide, top 69%, 514 students, 99% FRL); Rockingham Middle (math 24% / reading 35%, grade F, #343 of 475 statewide, top 73%, 616 students, 100% FRL); 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.
• 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 $504 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 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 1943 — 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 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?
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: 1.90% ✓
• Cap rate: 16.73%
• Cash-on-cash: 37.28%
• DSCR: 2.66
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $100,440
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Airport Rd	0.06mi	3/1.0 (+1)	1,188 (+10%)	1mo	$135,000	$114	75
213 9th Avenue Aleo Ave	0.71mi	2/1.0	1,078 (-0%)	15mo	$44,900	$42	54
120 Stilwell St	0.61mi	2/1.0	1,020 (-6%)	11mo	$95,000	$93	53
164 Sandhill Rd	0.66mi	2/2.0	1,083 (+0%)	19mo	$143,000	$132	49
128 Aleo Ninth Ave	0.49mi	2/1.0	1,180 (+9%)	16mo	$80,000	$68	49
128 Watkins Ave	0.69mi	3/1.0 (+1)	1,196 (+11%)	6mo	$124,525	$104	40
57 Aleo Seventh Ave	0.61mi	3/1.5 (+1)	1,176 (+9%)	15mo	$52,000	$44	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: 33.2%
• Equity multiple: 2.40×
• Total profit: $28,575
• Equity at exit: $10,870

10-year hold

• IRR: 40.2%
• Equity multiple: 4.77×
• Total profit: $76,877
• Equity at exit: $6,303

Cash invested: $20,412 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,388 medium
• Mortgage (P&I): −$382
• Tax from tax record: −$50 /mo · $600/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $634

Break-even live

Break-even rent $586

Max offer price $72,900

Occupancy floor 49%

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: $18,225
• Closing costs: $2,187
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-05
   status $72,900 Pending 165 DOM
2. 2026-06-03
   days on market $72,900 Active 165 DOM
3. 2026-06-02
   days on market $72,900 Active 164 DOM
4. 2026-06-01
   days on market $72,900 Active 163 DOM
5. 2026-05-31
   days on market $72,900 Active 162 DOM
6. 2026-05-30
   days on market $72,900 Active 161 DOM
7. 2026-05-20
   price $72,900
8. 2025-12-20
   listed $79,900 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: $600 · $50/mo
• Projected year-2 tax: $600 · $50/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $16,661
• − Mortgage interest: −$4,084
• − Property taxes: −$600
• − Insurance: −$364
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$2,121
• Taxable income: $6,827
• Est. tax owed @ 24.0%: −$1,638
• After-tax cash flow: $5,972/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 — East Rockingham

• Score: 58/100
• State rank: #579
• US rank: #21339

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East 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

-8.8% since first listed

2 events — show timeline

• 2026-05-20 Price Changed $72,900 Hive MLS
• 2025-12-20 Listed $79,900 Hive MLS

Property tax history

+0.5%/yr

Latest (2025): $600 · -1.7% YoY. Source: county tax records.