3902 W Wilson St · Farmville, NC 27828

$229,000

3 bd · 2.0 ba · 1,472 sqft · SingleFamily public records · 332 Days on market

Built 1913 9,147 sqft lot Est $243k · 6% under

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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 +21.5/30.0
• ARV discount +10.1/15.0
• DSCR +6.9/10.0
• 1% rule +4.8/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3 bed, 2 bath home in a prime location. This beautifully updated home features hardwood floors, a welcoming front porch, along with recently replaced roof, updated HVAC, New Windows, and new doors. Plumbing and electrical fixtures have been updated throughout as well as cabinets, and paint. Refrigerator and storage building convey. A perfect blend of classic charm and contemporary conveniences, act quick to make this one your own!

Key facts

• New doors
• Front porch
• Updated hvac

Tags

• HARDWOOD FLOORS
• FRONT PORCH
• RECENTLY REPLACED ROOF
• UPDATED HVAC
• NEW WINDOWS
• NEW DOORS

Property features AI

Exterior

• Parking: 2-space carport; Concrete parking surface
• Utilities: Public water; Public sewer; Natural gas connected; Water connected; Sewer connected
• Home design: Single family residence; One story; Brick veneer and frame construction
• Construction: Shingle roof; Brick/mortar permanent foundation; Built with brick veneer and frame materials
• Exterior features: Covered porch; Vinyl fencing; Paved road frontage (city street and state road)

Interior

• Kitchen: Electric oven; Microwave; Refrigerator; Electric water heater
• Bedrooms: Total rooms: 8
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Natural gas heating; Central air conditioning
• Interior features: Insulated windows; Unfurnished; Crawl space foundation (no basement); Storage outbuilding
• Laundry & utility: Laundry room with washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (1.7% below list).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.0% in Farmville — 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 66/100 on livability (#272 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, employment C-, crime F.
• Pitt County Schools (rural): math 41% / reading 44% proficiency, ranked #100 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: H B Sugg Elementary (401 students, 99% FRL); Farmville Middle (math 31% / reading 35%, grade F, #305 of 475 statewide, top 65%, 611 students, 100% FRL); Farmville Central High (math 42% / reading 47%, grade F, #352 of 535 statewide, top 68%, 789 students, 99% FRL) — zoned schools average 99% FRL vs 56% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Pitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 332 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $229k implies a 205% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 332 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 1913 — 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 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: 0.98% ✗
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $242,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4252 Pinehurst Ct	0.28mi	3/2.0	1,565 (+6%)	5mo	$338,126	$216	72
4266 Pinehurst Ct	0.25mi	3/2.0	1,617 (+10%)	4mo	$338,126	$209	68
3400 Bynum Dr	0.39mi	3/2.5	1,444 (-2%)	11mo	$238,000	$165	68
185 Lang Farm Rd	0.45mi	3/2.5	1,404 (-5%)	3mo	$214,991	$153	67
4272 Pinehurst Ct	0.22mi	3/2.0	1,615 (+10%)	10mo	$300,000	$186	65
3354 Clubview Dr	0.38mi	2/2.0 (-1)	1,515 (+3%)	12mo	$250,000	$165	63
4146 East Pine St	0.70mi	3/2.0	1,430 (-3%)	1mo	$140,000	$98	62
3222 North Contentnea St	0.63mi	4/2.0 (+1)	1,520 (+3%)	5mo	$127,500	$84	56
3346 Clubview Dr	0.40mi	3/2.0	1,350 (-8%)	14mo	$235,000	$174	56
3242 N Contentnea St	0.60mi	3/1.0	1,393 (-5%)	8mo	$210,000	$151	52
3209 North Waverly St	0.74mi	3/2.0	1,600 (+9%)	4mo	$225,000	$141	48
3178 N Contentnea St	0.70mi	3/2.0	1,295 (-12%)	13mo	$180,000	$139	36

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-15,363
• Equity at exit: $34,145

10-year hold

• IRR: 3.1%
• Equity multiple: 1.23×
• Total profit: $14,466
• Equity at exit: $19,800

Cash invested: $64,120 (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 27828

• Home prices YoY: -20.9%
• Active inventory: 86
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$139 /mo · $1,666/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $342

Break-even live

Break-even rent $1,817

Max offer price $229,000

Occupancy floor 80%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4022 East Horne Ave Farmville, NC	3.0	2.0	1700	$2,250	$1.32	20d	1	0.80mi

Listing history 40 events

1. 2026-06-19
   days on market $229,000 Active 332 DOM
2. 2026-06-18
   days on market $229,000 Active 331 DOM
3. 2026-06-17
   days on market $229,000 Active 330 DOM
4. 2026-06-16
   days on market $229,000 Active 329 DOM
5. 2026-06-15
   days on market $229,000 Active 328 DOM
6. 2026-06-13
   days on market $229,000 Active 325 DOM
7. 2026-06-10
   days on market $229,000 Active 323 DOM
8. 2026-06-09
   days on market $229,000 Active 322 DOM
9. 2026-06-08
   days on market $229,000 Active 321 DOM
10. 2026-06-07
    days on market $229,000 Active 320 DOM
11. 2026-06-05
    days on market $229,000 Active 317 DOM
12. 2026-06-03
    days on market $229,000 Active 316 DOM
13. 2026-06-02
    days on market $229,000 Active 315 DOM
14. 2026-06-01
    days on market $229,000 Active 314 DOM
15. 2026-05-31
    days on market $229,000 Active 313 DOM
16. 2026-05-30
    days on market $229,000 Active 312 DOM
17. 2026-05-22
    price $229,000
18. 2026-05-18
    status Active
19. 2026-05-15
    historical
20. 2026-03-26
    status Active
21. 2026-03-26
    historical
22. 2026-02-21
    status Active
23. 2026-02-20
    historical
24. 2026-02-12
    status Active
25. 2026-01-31
    historical
26. 2026-01-31
    historical
27. 2026-01-14
    price $239,000
28. 2026-01-14
    price $239,000
29. 2025-10-27
    price $249,000
30. 2025-10-27
    price $249,000
31. 2025-09-16
    price $254,000
32. 2025-09-16
    price $254,000
33. 2025-08-06
    price $259,000
34. 2025-08-06
    price $259,000
35. 2025-07-23
    price $264,000
36. 2025-07-23
    price $264,000
37. 2025-07-07
    listed $269,000 Active
38. 2025-07-07
    listed $269,000 Active
39. 2020-11-09
    soldstatus $75,000
40. 2002-05-01
    soldstatus $35,000

ⓘ 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: $1,666 · $139/mo
• Projected year-2 tax: $1,878 · $156/mo
• Expected delta: +$211/yr (+$18/mo · 12.7%)

ⓘ 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 ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,000
• − Mortgage interest: −$12,828
• − Property taxes: −$1,666
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$6,662
• Taxable income: $379
• Est. tax owed @ 24.0%: −$91
• After-tax cash flow: $4,017/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: Pitt County Schools
• NCES district ID: 3700012
• Math proficiency: 41% ▬ 0.00%
• Reading proficiency: 44% ▲ 2.00%
• Median HH income: $40,631
• Composite: 35.67/100
• National rank: #4877
• State rank: #100 of 178 in NC

Livability — Farmville

• Score: 66/100
• State rank: #272
• US rank: #11852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmville, NC
• Population (ZIP): 8,155

Population outlook (Pitt County) Hauer SSP2

• Today (2025): 194,585 people
• By 2030: 203,756 · +4.7%
• By 2040: 220,807 · +13.5%
• By 2050: 236,614 · +21.6%
• By 2075: 275,940 · +41.8%
• By 2100: 300,058 · +54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 37% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Subsaharan African 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Pitt

• 2024 margin: Lean D (+6.0) · D 52.5% · R 46.5% · Other 1.1%
• 2008→2024 swing: -2.8pp toward R · 2008: 8.8pp · 2024: 6.0pp
• All cycles: 2024: D+6.0 2020: D+9.4 2016: D+7.4 2012: D+6.7 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.30%
• Current HPI: 193.5248
• 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

+554.3% since first listed

24 events — show timeline

• 2026-05-22 Price Changed $229,000 Hive MLS
• 2026-05-18 Relisted — Hive MLS
• 2026-05-15 Listing Removed — Hive MLS
• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-02-21 Relisted — Hive MLS
• 2026-02-20 Listing Removed — Hive MLS
• 2026-02-12 Relisted — Hive MLS
• 2026-01-31 Listing Removed — TMLS
• 2026-01-31 Listing Removed — Hive MLS
• 2026-01-14 Price Changed $239,000 TMLS
• 2026-01-14 Price Changed $239,000 Hive MLS
• 2025-10-27 Price Changed $249,000 TMLS
• 2025-10-27 Price Changed $249,000 Hive MLS
• 2025-09-16 Price Changed $254,000 TMLS
• 2025-09-16 Price Changed $254,000 Hive MLS
• 2025-08-06 Price Changed $259,000 TMLS
• 2025-08-06 Price Changed $259,000 Hive MLS
• 2025-07-23 Price Changed $264,000 TMLS
• 2025-07-23 Price Changed $264,000 Hive MLS
• 2025-07-07 Listed $269,000 TMLS
• 2025-07-07 Listed $269,000 Hive MLS
• 2020-11-09 Sold (Public Records) $75,000 Public Records
• 2002-05-01 Sold (Public Records) $35,000 Public Records

Property tax history

+16.7%/yr

Latest (2025): $1,666 · -13.5% YoY. Source: county tax records.