507 Pasquenoke Trl · Chowan Beach, NC 27932

$35,000

2 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 1 Days on market

Built 1983 0.41 ac lot ↓ 36% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Log cabin in need of extensive renovations and repairs.

Key facts

• 0.41 acre lot
• Garage
• Built 1983

Property features AI

Finance

• Other: Tax annual amount available

Exterior

• Parking: Unpaved parking; One parking space total; One-car garage
• Utilities: Utilities: See remarks
• Home design: Single-family residence; One and one-half levels (2 stories); Entry level: 1
• Construction: Log and frame construction; Block foundation; Shingle roof; Built as residential single-family
• Exterior features: Deck; Porch; City street and state road frontage; Irregular lot shape; 0.41-acre lot; Zoning: R15

Interior

• Bathrooms: One full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Seven total rooms; Has a view

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Edenton-Chowan Schools (rural): math 37% / reading 42% proficiency, ranked #118 of 178 in NC (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: White Oak Elementary (509 students, 66% FRL); Chowan Middle (math 29% / reading 42%, grade F, #279 of 475 statewide, top 60%, 428 students, 68% FRL); John A Holmes High (math 57% / reading 47%, grade D+, #292 of 535 statewide, top 56%, 592 students, 57% FRL).
• Market conditions: 241 active listings in the ZIP; 48 units permitted in Chowan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Chowan County population projected at -20% 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $35,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 3.34% ✓
• Cap rate: 29.83%
• Cash-on-cash: 84.05%
• DSCR: 4.74
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $227,520
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 Mohave Trl	0.63mi	2/1.5	1,224 (-15%)	19mo	$193,500	$158	28

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: 84.4%
• Equity multiple: 4.88×
• Total profit: $38,063
• Equity at exit: $5,219

10-year hold

• IRR: 87.7%
• Equity multiple: 10.13×
• Total profit: $89,502
• Equity at exit: $3,026

Cash invested: $9,800 (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 27932

• Home prices YoY: -32.1%
• Active inventory: 241
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,171 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$40 /mo · $484/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $686

Break-even live

Break-even rent $302

Max offer price $35,000

Occupancy floor 36%

Sensitivity live

Price	-10% $706	-5% $696	+0% $686	+5% $677	+10% $667
Rent	-10% $594	-5% $640	+0% $686	+5% $733	+10% $779
Rate	-1.0pp $704	-0.5pp $695	base $686	+0.5pp $677	+1.0pp $668

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   status $35,000 Pending 1 DOM
2. 2026-06-18
   remarks 55-char remark
3. 2026-06-18
   listed $35,000 Active 1 DOM

ⓘ 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: $484 · $40/mo
• Projected year-2 tax: $484 · $40/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 ≥107°F today · 18 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: $14,049
• − Mortgage interest: −$1,961
• − Property taxes: −$484
• − Insurance: −$175
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − Depreciation: −$1,018
• Taxable income: $8,163
• Est. tax owed @ 24.0%: −$1,959
• After-tax cash flow: $6,278/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: Edenton-Chowan Schools
• NCES district ID: 3700840
• Math proficiency: 37% ▼ -2.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $38,516
• Composite: 32.97/100
• National rank: #5586
• State rank: #118 of 178 in NC

Livability — Chowan Beach

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Chowan Beach, NC
• Population (ZIP): 12,784

Population outlook (Chowan County) Hauer SSP2

• Today (2025): 13,627 people
• By 2030: 13,099 · -3.9%
• By 2040: 11,899 · -12.7%
• By 2050: 10,858 · -20.3%
• By 2075: 9,010 · -33.9%
• By 2100: 7,463 · -45.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Black 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Italian 2% Romanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Chowan

• 2024 margin: Strong R (+22.5) · D 38.4% · R 60.9%
• 2008→2024 swing: -21.3pp toward R · 2008: -1.1pp · 2024: -22.5pp
• All cycles: 2024: R+22.5 2020: R+15.7 2016: R+14.3 2012: R+4.9 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.59%
• Current HPI: 172.7448
• 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

-36.4% since first listed

2 events — show timeline

• 2026-06-17 Listed $35,000 Hive MLS
• 1999-07-08 Sold (Public Records) $55,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $484 · +0.0% YoY. Source: county tax records.