109 W Academy St · Colerain, NC 27924

$169,900

3 bd · 2.0 ba · 1,750 sqft · SingleFamily public records · 11 Days on market

Built 1924 0.86 ac lot Est $156k · 9% over

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Why this score? — see what drove the F 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 +9.8/30.0
• Appreciation +5.0/10.0
• Livability +3.6/5.0
• ARV discount +3.4/15.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +1.9/10.0

Listing remarks MLS

Small town America! Imagine sitting in your porch swing or rocking chairs on this beautiful, welcoming front porch as you greet neighbors in the friendly, quaint town of Colerain, NC. Located just a mile from the beautiful Chowan River, this spacious home boasts 5 bedrooms (2 down and 3 up), two baths (1 up and 1 down), living room with brick fireplace, study with French doors, formal dining room, breakfast nook, kitchen, laundry room and additional small room upstairs perfect for a sewing room or kids playroom. Lovingly maintained, this home would be perfect for a growing family. Outside you'll find a concrete drive & sidewalk, detached carport, storage shed, beautiful crepe myrtles, and that gorgeous front porch! Central heat/air, 10 ft ceilings downstairs, pine floors and lots of other charming features. This is a lot of home for the money!

Key facts

• Breakfast nook
• Brick fireplace
• Dishwasher

Tags

• LARGE WELCOMING FRONT PORCH
• BRICK FIREPLACE
• BUILT IN COOK-TOP
• DOUBLE WALL OVENS
• DISHWASHER
• BREAKFAST NOOK

Property features AI

Exterior

• Parking: Detached carport; Concrete parking surface
• Utilities: Public water; Public sewer
• Home design: Residential property (Residential/Vacation); One-and-a-half story
• Construction: Vinyl siding; Metal roof; Combination foundation; Built area above grade: 3,124 (finished)
• Exterior features: Front porch; Storage structure

Interior

• Kitchen: Electric oven, electric range, dishwasher
• Bedrooms: Total rooms: 10
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Electric oven, electric range, dishwasher; Gas log fireplace in the living room; Partial basement; Has view

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (27.9% below list).
• Recommended offer: $122k (27.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#90 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Bertie County Schools (rural): math 17% / reading 31% proficiency, ranked #165 of 178 in NC (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bertie Middle (math 13% / reading 31%, grade F, #416 of 475 statewide, top 89%, 425 students, 99% FRL); Bertie High (math 27% / reading 22%, grade F, #474 of 535 statewide, top 90%, 442 students, 99% FRL) — zoned schools average 99% FRL vs 80% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 7 active listings in the ZIP; 46 units permitted in Bertie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Bertie County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $95k; list at $170k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $122,452 (27.9% 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. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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. 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?
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: 0.72% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $155,750
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Britton St	0.22mi	3/2.0	1,646 (-6%)	10mo	$60,000	$36	72
204 W Academy St	0.05mi	2/2.0 (-1)	1,568 (-10%)	20mo	$140,000	$89	59
304 N Main St	0.36mi	3/2.5	1,911 (+9%)	11mo	$220,000	$115	57
203 N Main St	0.26mi	4/1.0 (+1)	1,554 (-11%)	10mo	$40,000	$26	52

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: 4.9%
• Equity multiple: 1.28×
• Total profit: $13,452
• Equity at exit: $76,394

10-year hold

• IRR: 8.0%
• Equity multiple: 2.21×
• Total profit: $57,630
• Equity at exit: $117,733

Cash invested: $47,572 (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 27924

• Active inventory: 7
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$115 /mo · $1,381/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-109

Break-even live

Break-even rent $1,363

Max offer price $150,557

Occupancy floor —

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-31
   status $169,900 Pending 11 DOM
2. 2026-05-19
   listed $169,900 Active
3. 2016-10-14
   soldstatus $95,000 861-char remark

   Show marketing remark (861 chars)

   Small town America! Imagine sitting in your porch swing or rocking chairs on this beautiful, welcoming front porch as you greet neighbors in the friendly, quaint town of Colerain, NC. Located just a mile from the beautiful Chowan River, this spacious home boasts 5 bedrooms (2 down and 3 up), two baths (1 up and 1 down), living room with brick fireplace, study with French doors, formal dining room, breakfast nook, kitchen, laundry room and additional small room upstairs perfect for a sewing room or kids playroom. Lovingly maintained, this home would be perfect for a growing family. Outside you'll find a concrete drive & sidewalk, detached carport, storage shed, beautiful crepe myrtles, and that gorgeous front porch! Central heat/air, 10 ft ceilings downstairs, pine floors and lots of other charming features. This is a lot of home for the money!

4. 2015-11-12
   listed $109,900 861-char remark

   Show marketing remark (861 chars)

   Small town America! Imagine sitting in your porch swing or rocking chairs on this beautiful, welcoming front porch as you greet neighbors in the friendly, quaint town of Colerain, NC. Located just a mile from the beautiful Chowan River, this spacious home boasts 5 bedrooms (2 down and 3 up), two baths (1 up and 1 down), living room with brick fireplace, study with French doors, formal dining room, breakfast nook, kitchen, laundry room and additional small room upstairs perfect for a sewing room or kids playroom. Lovingly maintained, this home would be perfect for a growing family. Outside you'll find a concrete drive & sidewalk, detached carport, storage shed, beautiful crepe myrtles, and that gorgeous front porch! Central heat/air, 10 ft ceilings downstairs, pine floors and lots of other charming features. This is a lot of home for the money!

5. 1989-04-01
   soldstatus $25,750

ⓘ 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: $1,381 · $115/mo
• Projected year-2 tax: $1,393 · $116/mo
• Expected delta: +$12/yr (+$1/mo · 0.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°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: $14,694
• − Mortgage interest: −$9,517
• − Property taxes: −$1,381
• − Insurance: −$850
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$4,943
• Taxable loss: −$4,347
• Est. tax savings @ 24.0%: +$1,043
• After-tax cash flow: $-271/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: Bertie County Schools
• NCES district ID: 3700360
• Math proficiency: 17% ▼ -7.00%
• Reading proficiency: 31% ▼ -2.00%
• Median HH income: $30,361
• Composite: 19.3/100
• National rank: #8797
• State rank: #165 of 178 in NC

Livability — Colerain

• Score: 72/100
• State rank: #90
• US rank: #6065

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colerain, NC
• Population (ZIP): 2,183

Population outlook (Bertie County) Hauer SSP2

• Today (2025): 18,388 people
• By 2030: 17,285 · -6.0%
• By 2040: 14,982 · -18.5%
• By 2050: 12,963 · -29.5%
• By 2075: 10,051 · -45.3%
• By 2100: 8,320 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 27% Hispanic / Latino 1%
• Common ancestry: Italian 1% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Bertie

• 2024 margin: D (+15.7) · D 57.6% · R 41.9%
• 2008→2024 swing: -14.9pp toward R · 2008: 30.6pp · 2024: 15.7pp
• All cycles: 2024: D+15.7 2020: D+21.6 2016: D+25.2 2012: D+31.9 2008: D+30.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+559.8% since first listed

4 events — show timeline

• 2026-05-19 Listed $169,900 RVLG
• 2016-10-14 Sold (MLS) $95,000 RVLG
• 2015-11-12 Listed $109,900 RVLG
• 1989-04-01 Sold (Public Records) $25,750 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,381 · +0.0% YoY. Source: county tax records.