621 Harvey St · Kinston, NC 28501

$60,000

3 bd · 1.0 ba · 1,108 sqft · SingleFamily public records · 17 Days on market

Built 1955 3,049 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity in Kinston NC! 621 Harvey St plus an adjacent vacant lot at 619 Harvey St. This 3 bedroom, 1 bath home offers approximately 1,108 soft of living space and is ready for your vision. Whether looking for your next fix and flip, rental property, or Reno-project this one has very strong potential. Conveniently located near shopping, schools, and local amenities. This property is being sold as-is, ! Don't miss out! Cash Offer!

Key facts

• 3,049 sq ft lot
• Built 1955
• Listed 16 days

Property features AI

Finance

• Other: Zoning: RA5

Exterior

• Parking: Unpaved parking
• Security: Smoke detector(s)
• Utilities: Utilities listed as other; Road frontage on city street and state road
• Home design: Single-family residence; One story, entry level at first floor; Has a view; Residential property
• Construction: Concrete and vinyl siding exterior; Brick/mortar foundation; Shingle roof; Built as a single-story structure
• Exterior features: Front porch; No additional exterior features listed; No pool

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 4 total rooms
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window air conditioning units; Heating system listed as other
• Interior features: Carpet flooring; No basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($806 rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.8% in Kinston — 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 55/100 on livability (#640 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Rochelle Middle (math 9% / reading 20%, grade F, #462 of 475 statewide, top 98%, 466 students, 98% FRL); Kinston High (math 22% / reading 37%, grade F, #459 of 535 statewide, top 87%, 713 students, 100% FRL) — zoned schools average 99% FRL vs 65% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 95 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

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.
• Lenoir County population projected at -18% 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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — 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: 1.34% ✓
• Cap rate: 10.76%
• Cash-on-cash: 15.96%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $36,564
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 N Adkin St	0.18mi	3/1.0	1,088 (-2%)	1mo	$28,000	$26	87
641 Fields St	0.08mi	2/1.0 (-1)	1,100 (-1%)	6mo	$35,000	$32	85
1105 N East St	0.42mi	3/1.0	1,104 (-0%)	1mo	$35,000	$32	79
206 E Vernon Ave	0.47mi	3/1.0	1,052 (-5%)	1mo	$35,000	$33	69
554 Dr Martin Luther King Jr Blvd	0.17mi	3/1.0	948 (-14%)	9mo	$25,000	$26	61
1000 Liberty Hill Rd	0.36mi	2/1.0 (-1)	1,145 (+3%)	16mo	$65,000	$57	59
1113 Morningside Dr	0.45mi	2/1.0 (-1)	1,145 (+3%)	12mo	$35,000	$31	58
602 Meadows Ln	0.36mi	3/1.0	970 (-12%)	6mo	$60,500	$62	57
1204 Morningside Dr	0.57mi	3/1.0	1,242 (+12%)	1mo	$175,000	$141	52
203 Park Ave	0.54mi	2/1.0 (-1)	1,120 (+1%)	22mo	$113,000	$101	50
724 Fields St	0.14mi	3/1.5	1,272 (+15%)	21mo	$136,000	$107	49

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: 6.9%
• Equity multiple: 1.27×
• Total profit: $4,524
• Equity at exit: $8,946

10-year hold

• IRR: 16.2%
• Equity multiple: 2.33×
• Total profit: $22,315
• 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 28501

• Home prices YoY: -18.9%
• Active inventory: 95
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $806 high
• Mortgage (P&I): −$315
• Tax from tax record: −$74 /mo · $884/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $224

Break-even live

Break-even rent $523

Max offer price $60,000

Occupancy floor 67%

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: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 Harvey St Kinston, NC	2.0	1.0	896	$700	$0.78	20d	1	0.08mi
503 N Queen St Kinston, NC	1.0–2.0	2.0	759	$723	$0.95	13d	8	0.57mi
1204 Desmond St Kinston, NC	3.0	1.0	1100	$1,340	$1.22	20d	1	0.84mi
619 S Heritage St Kinston, NC	1.0–2.0	2.0	1025	$1,042	$1.02	13d	4	1.11mi
100 Wingate Dr Kinston, NC	2.0–3.0	1.0–1.5	930	$975	$1.05	20d	1	1.11mi

Listing history 13 events

1. 2026-06-19
   days on market $60,000 Active 17 DOM
2. 2026-06-18
   days on market $60,000 Active 16 DOM
3. 2026-06-17
   days on market $60,000 Active 15 DOM
4. 2026-06-16
   days on market $60,000 Active 14 DOM
5. 2026-06-15
   days on market $60,000 Active 13 DOM
6. 2026-06-14
   days on market $60,000 Active 11 DOM
7. 2026-06-12
   days on market $60,000 Active 10 DOM
8. 2026-06-09
   days on market $60,000 Active 7 DOM
9. 2026-06-08
   days on market $60,000 Active 6 DOM
10. 2026-06-07
    days on market $60,000 Active 5 DOM
11. 2026-06-07
    days on market $60,000 Active 4 DOM
12. 2026-06-03
    remarks 453-char remark
13. 2026-06-03
    listed $60,000 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: $884 · $74/mo
• Projected year-2 tax: $884 · $74/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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,673
• − Mortgage interest: −$3,361
• − Property taxes: −$884
• − Insurance: −$300
• − Repairs & maintenance: −$774
• − Management: −$774
• − Depreciation: −$1,745
• Taxable income: $1,835
• Est. tax owed @ 24.0%: −$440
• After-tax cash flow: $2,242/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — Kinston

• Score: 55/100
• State rank: #640
• US rank: #23267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kinston, NC
• City population: 20,407
• Population (ZIP): 18,112

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.17%
• Current HPI: 193.3213
• 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

1 event — show timeline

• 2026-04-03 Listed $60,000 Hive MLS

Property tax history

+9.9%/yr

Latest (2025): $884 · +294.3% YoY. Source: county tax records.