59 N Sussex Dr · Smithfield, NC 27577

$139,900

2 bd · 2.0 ba · 1,228 sqft · MultiFamily public records · 65 Days on market

Built 1989 6,970 sqft lot Est $209k · 33% 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
• Schools +3.5/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

SHORT SALE! A great opportunity for someone with a flexible timeline, and willing to do a little handy work. Two-bedroom, two bath duplex in the heart of Smithfield. You just can't beat this central location. Engineered flooring, smooth ceilings, spacious family room, and fenced back yard. Just bring your imagination!

Key facts

• 6,970 sq ft lot
• 2 parking spots
• Built 1989

Property features AI

Finance

• Other: Zoned RES; Lot size approximately 0.16 acres
• HOA & community: No association

Exterior

• Parking: Open parking for 2 vehicles; Concrete driveway
• Utilities: Public water; Public sewer; Publicly maintained asphalt city street
• Home design: Duplex; One story; One common wall; Property listed as fixer condition
• Construction: Vinyl siding; Asphalt roof; Slab foundation; Built as a duplex
• Exterior features: Porch; Fenced yard with privacy fencing in back; Rain gutters; Shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Eat-in kitchen layout
• Bedrooms: 2 bedrooms (both on main level)
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Cathedral ceilings; Ceiling fan(s); Eat-in kitchen; Laminate counters; Living/dining room combination; Smooth ceilings; Walk-in shower; Blinds
• Laundry & utility: Washer and dryer; Laundry located in kitchen; Laundry closet

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $579/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 3.5% in Smithfield — 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 (#259 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Johnston County Public Schools (rural): math 39% / reading 42% proficiency, ranked #105 of 178 in NC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Smithfield Middle (math 20% / reading 32%, grade F, #385 of 475 statewide, top 81%, 501 students, 99% FRL); Smithfield-Selma High (math 25% / reading 37%, grade F, #454 of 535 statewide, top 85%, 1,503 students, 69% FRL) — zoned schools average 84% FRL vs 41% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 40% district-wide (-12 pts) — the specific schools serving this property underperform the Johnston County Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.1%/yr); 401 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,783 units permitted in Johnston County in 2024 (6 in 5+ unit buildings).
• At $2,673/mo this rent would consume 51% of the median local household income ($63k/yr) (locally 919% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Johnston County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% 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 $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.91% ✓
• Cap rate: 16.22%
• Cash-on-cash: 35.45%
• DSCR: 2.58
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $208,760
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 N Sussex Dr	0.03mi	2/2.0	1,057 (-14%)	9mo	$180,000	$170	68

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 2.10×
• Total profit: $43,224
• Equity at exit: $20,860

10-year hold

• IRR: 33.3%
• Equity multiple: 3.61×
• Total profit: $102,391
• Equity at exit: $12,096

Cash invested: $39,172 (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 27577

• Home prices YoY: -23.7%
• Rents YoY: -1.1%
• Active inventory: 401
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,673 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$163 /mo · $1,952/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $1,157

Break-even live

Break-even rent $1,208

Max offer price $139,900

Occupancy floor 52%

Sensitivity live

Price	-10% $1,236	-5% $1,197	+0% $1,157	+5% $1,117	+10% $1,078
Rent	-10% $946	-5% $1,051	+0% $1,157	+5% $1,263	+10% $1,368
Rate	-1.0pp $1,228	-0.5pp $1,193	base $1,157	+0.5pp $1,121	+1.0pp $1,084

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,674
Total (2 units)			$2,673

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
132 Cambridge Pl Smithfield, NC	2.0	2.5	1080	$1,399	$1.30	24d	1	0.39mi

Listing history 44 events

1. 2026-06-19
   status $139,900 Pending 65 DOM
2. 2026-06-18
   days on market $139,900 Active 65 DOM
3. 2026-06-17
   days on market $139,900 Active 64 DOM
4. 2026-06-16
   days on market $139,900 Active 63 DOM
5. 2026-06-15
   days on market $139,900 Active 62 DOM
6. 2026-06-13
   days on market $139,900 Active 60 DOM
7. 2026-06-13
   days on market $139,900 Active 59 DOM
8. 2026-06-09
   days on market $139,900 Active 56 DOM
9. 2026-06-08
   pricedays on market $139,900 Active 55 DOM
10. 2026-06-07
    days on market $149,900 Active 54 DOM
11. 2026-06-05
    days on market $149,900 Active 51 DOM
12. 2026-06-03
    days on market $149,900 Active 50 DOM
13. 2026-06-02
    days on market $149,900 Active 49 DOM
14. 2026-06-01
    days on market $149,900 Active 48 DOM
15. 2026-05-31
    days on market $149,900 Active 47 DOM
16. 2026-05-15
    price $149,900 319-char remark

    Show marketing remark (319 chars)

    SHORT SALE! A great opportunity for someone with a flexible timeline, and willing to do a little handy work. Two-bedroom, two bath duplex in the heart of Smithfield. You just can't beat this central location. Engineered flooring, smooth ceilings, spacious family room, and fenced back yard. Just bring your imagination!

17. 2026-05-15
    price $149,900

    Show marketing remark (319 chars)

    SHORT SALE! A great opportunity for someone with a flexible timeline, and willing to do a little handy work. Two-bedroom, two bath duplex in the heart of Smithfield. You just can't beat this central location. Engineered flooring, smooth ceilings, spacious family room, and fenced back yard. Just bring your imagination!

18. 2026-05-08
    listed $169,900 Active 319-char remark

    Show marketing remark (319 chars)

    SHORT SALE! A great opportunity for someone with a flexible timeline, and willing to do a little handy work. Two-bedroom, two bath duplex in the heart of Smithfield. You just can't beat this central location. Engineered flooring, smooth ceilings, spacious family room, and fenced back yard. Just bring your imagination!

19. 2026-04-23
    price $169,900
20. 2026-04-14
    listed $179,900 Active
21. 2026-04-08
    historical $179,900
22. 2024-09-17
    soldstatus $196,000
23. 2024-09-16
    soldstatus $196,000 Sold 219-char remark

    Show marketing remark (219 chars)

    Discover the perfect blend of comfort and style in this beautiful duplex. Featuring 2 spacious bedrooms and 2 modern bathrooms, this home offers a welcoming atmosphere with plenty of natural light and tasteful finishes.

24. 2024-06-21
    status Pending 219-char remark

    Show marketing remark (219 chars)

    Discover the perfect blend of comfort and style in this beautiful duplex. Featuring 2 spacious bedrooms and 2 modern bathrooms, this home offers a welcoming atmosphere with plenty of natural light and tasteful finishes.

25. 2024-06-13
    price $199,000 219-char remark

    Show marketing remark (219 chars)

    Discover the perfect blend of comfort and style in this beautiful duplex. Featuring 2 spacious bedrooms and 2 modern bathrooms, this home offers a welcoming atmosphere with plenty of natural light and tasteful finishes.

26. 2024-05-24
    listed $205,000 Active 219-char remark

    Show marketing remark (219 chars)

    Discover the perfect blend of comfort and style in this beautiful duplex. Featuring 2 spacious bedrooms and 2 modern bathrooms, this home offers a welcoming atmosphere with plenty of natural light and tasteful finishes.

27. 2022-06-24
    soldstatus $177,000 Closed
28. 2022-06-24
    soldstatus $177,000
29. 2022-05-23
    historical Contingent
30. 2022-05-20
    listed $174,900 Active
31. 2019-06-17
    soldstatus $105,000 Closed
32. 2019-06-17
    soldstatus $105,000
33. 2019-05-06
    historical Contingent
34. 2019-03-29
    listed $114,700 Active
35. 2014-01-10
    soldstatus $48,500 Closed
36. 2014-01-10
    soldstatus $48,500
37. 2013-10-31
    status Pending
38. 2013-10-24
    status Active
39. 2013-09-24
    status Pending
40. 2013-09-15
    price $58,000
41. 2013-08-22
    price $64,600
42. 2013-07-25
    listed $93,980 Active
43. 2006-12-20
    historical
44. 2006-10-19
    listed $89,900

ⓘ 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: $1,952 · $163/mo
• Projected year-2 tax: $1,952 · $163/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 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,076
• − Mortgage interest: −$7,837
• − Property taxes: −$1,952
• − Insurance: −$700
• − Repairs & maintenance: −$2,566
• − Management: −$2,566
• − Depreciation: −$4,070
• Taxable income: $12,386
• Est. tax owed @ 24.0%: −$2,973
• After-tax cash flow: $10,912/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: Johnston County Public Schools
• NCES district ID: 3702370
• Math proficiency: 39% ▲ 4.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $50,912
• Composite: 34.99/100
• National rank: #5052
• State rank: #105 of 178 in NC

Livability — Smithfield

• Score: 66/100
• State rank: #259
• US rank: #11380

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smithfield, NC
• County: Johnston County · 175,441 people
• City population: 28,354
• Metro: Raleigh-Cary, NC
• Population (ZIP): 28,354
• Household income: $62,758
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 919.0

Population outlook (Johnston County) Hauer SSP2

• Today (2025): 222,440 people
• By 2030: 240,227 · +8.0%
• By 2040: 274,616 · +23.5%
• By 2050: 304,915 · +37.1%
• By 2075: 369,507 · +66.1%
• By 2100: 406,280 · +82.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 19% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 2% Serbian 2% Slovak 1%
• Foreign-born: 12% · Canada, Jamaica, South Korea
• Languages at home: 80% English-only · Spanish 19%

Political lean MEDSL · Johnston

• 2024 margin: Strong R (+21.5) · D 38.7% · R 60.2% · Other 1.1%
• 2008→2024 swing: +2.2pp toward D · 2008: -23.7pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+24.3 2016: R+30.7 2012: R+27.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.11%
• Current HPI: 232.1552
• Rent YoY: ▼ -1.05%
• Metro: Raleigh-Cary, 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

+66.7% since first listed

29 events — show timeline

• 2026-05-15 Price Changed $149,900 Hive MLS
• 2026-05-15 Price Changed $149,900 TMLS
• 2026-05-08 Listed $169,900 Hive MLS
• 2026-04-23 Price Changed $169,900 TMLS
• 2026-04-14 Listed $179,900 TMLS
• 2026-04-08 Coming Soon $179,900 TMLS
• 2024-09-17 Sold (Public Records) $196,000 Public Records
• 2024-09-16 Sold (MLS) $196,000 TMLS
• 2024-06-21 Pending — TMLS
• 2024-06-13 Price Changed $199,000 TMLS
• 2024-05-24 Listed $205,000 TMLS
• 2022-06-24 Sold (Public Records) $177,000 Public Records
• 2022-06-24 Sold (MLS) $177,000 TMLS
• 2022-05-23 Contingent — TMLS
• 2022-05-20 Listed $174,900 TMLS
• 2019-06-17 Sold (Public Records) $105,000 Public Records
• 2019-06-17 Sold (MLS) $105,000 TMLS
• 2019-05-06 Contingent — TMLS
• 2019-03-29 Listed $114,700 TMLS
• 2014-01-10 Sold (Public Records) $48,500 Public Records
• 2014-01-10 Sold (MLS) $48,500 TMLS
• 2013-10-31 Pending — TMLS
• 2013-10-24 Relisted — TMLS
• 2013-09-24 Pending — TMLS
• 2013-09-15 Price Changed $58,000 TMLS
• 2013-08-22 Price Changed $64,600 TMLS
• 2013-07-25 Listed $93,980 TMLS
• 2006-12-20 Listing Removed — TMLS
• 2006-10-19 Listed $89,900 TMLS

Property tax history

+3.4%/yr

Latest (2025): $1,952 · +29.4% YoY. Source: county tax records.