1222 Hargrove St · Rocky Mount, NC 27801

$60,000

3 bd · 1.5 ba · 1,170 sqft · SingleFamily public records · 6 Days on market

Built 1930 Est $115k · 48% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bedroom bick home. Hardwood flooring in the living and family room. Kitchen has wooden cabinets. Bedrooms are spacious. Backyard is a good size and has a lot of privacy. Property Condition UI. Case # 381-653044.

Key facts

• Spacious bedrooms
• Yard space
• 2 parking spots

Tags

• YARD SPACE
• SPACIOUS BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 20.7% vs local median 4.5% in Rocky Mount — 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 70/100 on livability (#134 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Edgecombe County Public Schools (rural): math 21% / reading 27% proficiency, ranked #163 of 178 in NC (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 133 active listings in the ZIP; lower-income renter base — watch delinquency; 50 units permitted in Edgecombe County in 2024 (5 in 5+ unit buildings).
• This rent runs 38% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Edgecombe County population projected at -34% 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 15y ago; this cycle's ask is 4344% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $7k; list at $60k implies a 704% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 76% 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 $60,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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. 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.
6. 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.
7. 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: 2.36% ✓
• Cap rate: 20.70%
• Cash-on-cash: 51.44%
• DSCR: 3.29
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $114,660
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
929 Tyan St	0.37mi	3/2.0	1,187 (+2%)	10mo	$90,000	$76	70
727 Long Ave	0.35mi	2/1.0 (-1)	1,177 (+1%)	10mo	$40,000	$34	68
225 Hendricks St	0.45mi	2/1.0 (-1)	1,203 (+3%)	2mo	$20,000	$17	66
722 Long Ave	0.37mi	3/1.0	1,231 (+5%)	10mo	$48,000	$39	64
1317 Proctor St	0.53mi	3/1.5	1,107 (-5%)	11mo	$140,000	$126	57
801 Lincoln Dr	0.55mi	3/2.0	1,251 (+7%)	5mo	$170,000	$136	57
1525 Hargrove St	0.23mi	3/1.0	1,020 (-13%)	11mo	$100,000	$98	56
1104 Johnson St	0.41mi	4/1.5 (+1)	1,076 (-8%)	9mo	$60,000	$56	55
617 Pender St	0.60mi	3/1.0	1,232 (+5%)	8mo	$42,000	$34	54
1121 Hill St	0.57mi	3/1.0	1,104 (-6%)	10mo	$110,000	$100	54
906 Arlington St	0.43mi	4/2.0 (+1)	1,326 (+13%)	1mo	$180,000	$136	50
540 Lincoln Dr	0.66mi	3/2.0	1,067 (-9%)	9mo	$128,000	$120	45

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: 49.3%
• Equity multiple: 3.15×
• Total profit: $36,159
• Equity at exit: $8,946

10-year hold

• IRR: 54.8%
• Equity multiple: 6.39×
• Total profit: $90,599
• Equity at exit: $5,188

Cash invested: $16,800 (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 27801

• Home prices YoY: -5.6%
• Active inventory: 133
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,416 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$59 /mo · $706/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $720

Break-even live

Break-even rent $504

Max offer price $60,000

Occupancy floor 44%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2025-12-15
   historical $1,250
2. 2025-12-07
   price $1,250
3. 2025-11-13
   listed $1,350
4. 2025-09-26
   historical $1,350
5. 2025-08-26
   listed $1,350
6. 2025-08-19
   historical $1,350
7. 2025-07-19
   listed $1,350
8. 2025-04-16
   historical $1,350
9. 2025-03-15
   listed $1,350
10. 2024-08-11
    status Pending
11. 2024-08-05
    listed $60,000 Active
12. 2011-07-25
    soldstatus $7,460 217-char remark

    Show marketing remark (217 chars)

    Three bedroom bick home. Hardwood flooring in the living and family room. Kitchen has wooden cabinets. Bedrooms are spacious. Backyard is a good size and has a lot of privacy. Property Condition UI. Case # 381-653044.

13. 2011-07-25
    soldstatus $7,460 217-char remark

    Show marketing remark (217 chars)

    Three bedroom bick home. Hardwood flooring in the living and family room. Kitchen has wooden cabinets. Bedrooms are spacious. Backyard is a good size and has a lot of privacy. Property Condition UI. Case # 381-653044.

14. 2011-06-09
    listed $8,250 217-char remark

    Show marketing remark (217 chars)

    Three bedroom bick home. Hardwood flooring in the living and family room. Kitchen has wooden cabinets. Bedrooms are spacious. Backyard is a good size and has a lot of privacy. Property Condition UI. Case # 381-653044.

15. 2011-06-09
    listed $8,250 217-char remark

    Show marketing remark (217 chars)

    Three bedroom bick home. Hardwood flooring in the living and family room. Kitchen has wooden cabinets. Bedrooms are spacious. Backyard is a good size and has a lot of privacy. Property Condition UI. Case # 381-653044.

16. 1992-06-15
    soldstatus $34,000

ⓘ 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: $706 · $59/mo
• Projected year-2 tax: $706 · $59/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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,993
• − Mortgage interest: −$3,361
• − Property taxes: −$706
• − Insurance: −$300
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$1,745
• Taxable income: $8,162
• Est. tax owed @ 24.0%: −$1,959
• After-tax cash flow: $6,684/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: Edgecombe County Public Schools
• NCES district ID: 3701320
• Math proficiency: 21% ▼ -2.00%
• Reading proficiency: 27% ▲ 2.00%
• Median HH income: $35,711
• Composite: 19.85/100
• National rank: #8696
• State rank: #163 of 178 in NC

Livability — Rocky Mount

• Score: 70/100
• State rank: #134
• US rank: #7692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky Mount, NC
• County: Edgecombe County · 37,913 people
• City population: 70,300
• Metro: Rocky Mount, NC
• Population (ZIP): 19,532
• Household income: $44,884
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 900.0

Population outlook (Edgecombe County) Hauer SSP2

• Today (2025): 47,800 people
• By 2030: 44,396 · -7.1%
• By 2040: 37,562 · -21.4%
• By 2050: 31,495 · -34.1%
• By 2075: 20,943 · -56.2%
• By 2100: 13,674 · -71.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 24% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Edgecombe

• 2024 margin: Strong D (+22.7) · D 61.0% · R 38.3%
• 2008→2024 swing: -11.8pp toward R · 2008: 34.5pp · 2024: 22.7pp
• All cycles: 2024: D+22.7 2020: D+27.0 2016: D+32.2 2012: D+36.4 2008: D+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.65%
• Current HPI: 296.3428
• Rent YoY: —
• Metro: Rocky Mount, 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

Price history

-96.3% since first listed

16 events — show timeline

• 2025-12-15 Rental Removed $1,250 TURBOTENANT
• 2025-12-07 Price Changed $1,250 TURBOTENANT
• 2025-11-13 Listed for Rent $1,350 TURBOTENANT
• 2025-09-26 Rental Removed $1,350 TURBOTENANT
• 2025-08-26 Listed for Rent $1,350 TURBOTENANT
• 2025-08-19 Rental Removed $1,350 TURBOTENANT
• 2025-07-19 Listed for Rent $1,350 TURBOTENANT
• 2025-04-16 Rental Removed $1,350 TURBOTENANT
• 2025-03-15 Listed for Rent $1,350 TURBOTENANT
• 2024-08-11 Pending — TMLS
• 2024-08-05 Listed $60,000 TMLS
• 2011-07-25 Sold (MLS) $7,460 AMLSNC
• 2011-07-25 Sold (MLS) $7,460 TMLS
• 2011-06-09 Listed $8,250 AMLSNC
• 2011-06-09 Listed $8,250 TMLS
• 1992-06-15 Sold (Public Records) $34,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $706 · +0.0% YoY. Source: county tax records.