209 E River St · Colerain, NC 27924

$119,995

4 bd · 1.0 ba · 2,189 sqft · SingleFamily public records · 89 Days on market

Built 1925 1.53 ac lot

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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).

• Cash flow +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Appreciation +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

3 bed / 2 bath on over 1.5 acres of land. Home is over 100+ years old and has had many additions thru the years. Owner will now add a 1 year Home Warranty with a full price offer, which is approximately an $800 value. Owner is not accepting creative financing offers and wishes to sell to an end user. Large shop heated with toilet and sink. Tax card shows the house at 1925 but could be older. Large and private lot. Heated shop with toilet and sink conveys with the house at no value.

Key facts

• Heated shop
• Private lot
• Over 1.5 acres

Tags

• OVER 1.5 ACRES
• LARGE SHOP
• HEATED SHOP
• PRIVATE LOT

Property features AI

Finance

• Other: Living area reported as 2,189 (above-grade finished area per appraiser)
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer
• Home design: House; One story
• Construction: Wood siding; Combination foundation; Metal and shingle roof; Built as a single-story house
• Exterior features: 1.53-acre lot; Not waterfront; Public maintained road access

Interior

• Bedrooms: 3 bedrooms, all on the main level
• Flooring: Tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas pack and propane heating; Central air conditioning
• Interior features: Tile, vinyl, and wood flooring

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.

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+, schools F, amenities 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.
• 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 $4k of equity ($829 loan paydown + $4k 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $120k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $112,795 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1925 — 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. 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?
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: 1.10% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.29%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $251,735
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 N Main St	0.26mi	3/2.5 (-1)	1,911 (-13%)	11mo	$220,000	$115	46

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: 16.2%
• Equity multiple: 1.92×
• Total profit: $31,018
• Equity at exit: $53,955

10-year hold

• IRR: 17.8%
• Equity multiple: 3.60×
• Total profit: $87,195
• Equity at exit: $83,151

Cash invested: $33,599 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,314 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$99 /mo · $1,185/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $260

Break-even live

Break-even rent $985

Max offer price $119,995

Occupancy floor 75%

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: $29,999
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-07
   statusdays on market $119,995 Pending 89 DOM
2. 2026-06-04
   days on market $119,995 Active 87 DOM
3. 2026-06-02
   days on market $119,995 Active 86 DOM
4. 2026-06-01
   days on market $119,995 Active 85 DOM
5. 2026-05-31
   days on market $119,995 Active 84 DOM
6. 2026-05-05
   price $119,995 486-char remark

   Show marketing remark (486 chars)

   3 bed / 2 bath on over 1.5 acres of land. Home is over 100+ years old and has had many additions thru the years. Owner will now add a 1 year Home Warranty with a full price offer, which is approximately an $800 value. Owner is not accepting creative financing offers and wishes to sell to an end user. Large shop heated with toilet and sink. Tax card shows the house at 1925 but could be older. Large and private lot. Heated shop with toilet and sink conveys with the house at no value.

7. 2026-05-05
   price $119,995

   Show marketing remark (486 chars)

   3 bed / 2 bath on over 1.5 acres of land. Home is over 100+ years old and has had many additions thru the years. Owner will now add a 1 year Home Warranty with a full price offer, which is approximately an $800 value. Owner is not accepting creative financing offers and wishes to sell to an end user. Large shop heated with toilet and sink. Tax card shows the house at 1925 but could be older. Large and private lot. Heated shop with toilet and sink conveys with the house at no value.

8. 2026-04-13
   price $139,995
9. 2026-04-01
   price $139,995 486-char remark

   Show marketing remark (486 chars)

   3 bed / 2 bath on over 1.5 acres of land. Home is over 100+ years old and has had many additions thru the years. Owner will now add a 1 year Home Warranty with a full price offer, which is approximately an $800 value. Owner is not accepting creative financing offers and wishes to sell to an end user. Large shop heated with toilet and sink. Tax card shows the house at 1925 but could be older. Large and private lot. Heated shop with toilet and sink conveys with the house at no value.

10. 2026-03-08
    listed $149,995 Active
11. 2025-11-13
    listed $149,995 Active 486-char remark

    Show marketing remark (486 chars)

    3 bed / 2 bath on over 1.5 acres of land. Home is over 100+ years old and has had many additions thru the years. Owner will now add a 1 year Home Warranty with a full price offer, which is approximately an $800 value. Owner is not accepting creative financing offers and wishes to sell to an end user. Large shop heated with toilet and sink. Tax card shows the house at 1925 but could be older. Large and private lot. Heated shop with toilet and sink conveys with the house at no value.

12. 1998-06-01
    soldstatus $53,000

ⓘ 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: $1,185 · $99/mo
• Projected year-2 tax: $1,185 · $99/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 3/10 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: $15,770
• − Mortgage interest: −$6,722
• − Property taxes: −$1,185
• − Insurance: −$600
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$3,491
• Taxable income: $1,250
• Est. tax owed @ 24.0%: −$300
• After-tax cash flow: $2,823/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

+126.4% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $119,995 Hive MLS
• 2026-05-05 Price Changed $119,995 TMLS
• 2026-04-13 Price Changed $139,995 TMLS
• 2026-04-01 Price Changed $139,995 Hive MLS
• 2026-03-08 Listed $149,995 TMLS
• 2025-11-13 Listed $149,995 Hive MLS
• 1998-06-01 Sold (Public Records) $53,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,185 · +0.0% YoY. Source: county tax records.