118 Pampas St · South Mills, NC 27976

$411,165

5 bd · 2.5 ba · 2,203 sqft · SingleFamily · 69 Days on market

Built 2026 6,969 sqft lot Est $447k · 8% under $65/mo HOA · 2% of rent

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Why this score? — see what drove the D 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).

• ARV discount +11.1/15.0
• Cash flow +9.3/30.0
• Schools +5.2/10.0
• Appreciation +4.8/10.0
• 1% rule +3.0/10.0
• Livability +2.9/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

Key facts

• Walk-in closet
• Gourmet kitchen
• Dual-vanity bath

Tags

• GREAT ROOM
• GOURMET KITCHEN
• LARGE ISLAND
• FLEX ROOM
• WALK-IN CLOSET
• DUAL-VANITY BATH

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $411k.

Deal economics

• At list price, monthly cash flow is $-299 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $368k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (19.7% below list).
• Recommended offer: $330k (19.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#612 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Camden County Schools (rural): math 56% / reading 64% proficiency, ranked #29 of 178 in NC (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Grandy Primary (math 87% / reading 72%, grade A, #24 of 1,410 statewide, top 2%, 607 students, 32% FRL); Camden Intermediate (math 50% / reading 61%, grade B-, #76 of 475 statewide, top 16%, 440 students, 24% FRL); Camden County High (math 62% / reading 62%, grade B-, #184 of 535 statewide, top 37%, 464 students, 25% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 105 units permitted in Camden County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($3k loan paydown + $-2k appreciation (-0.4% local appreciation)).
• Camden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($386k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $330,000 (19.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 D-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.80% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.12%
• DSCR: 0.86
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $447,209
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Myrtle Ln	0.00mi	4/2.5 (-1)	2,176 (-1%)	6mo	$426,705	$196	88
204 Spencers Ave	0.09mi	5/3.0	2,160 (-2%)	3mo	$285,000	$132	88
111 Pampas St	0.00mi	4/2.0 (-1)	2,176 (-1%)	8mo	$408,405	$188	84
107 Pampas St	0.42mi	5/2.5	2,203 (0%)	9mo	$403,490	$183	73
118 Jasmine Ct	0.00mi	4/2.5 (-1)	1,903 (-14%)	1mo	$400,000	$210	72
108 Jasmine Ct	0.00mi	4/2.5 (-1)	1,903 (-14%)	2mo	$394,725	$207	71
115 Pampas St	0.00mi	4/2.5 (-1)	1,903 (-14%)	8mo	$385,980	$203	66
110 Jasmine Ct	0.00mi	4/2.0 (-1)	1,903 (-14%)	6mo	$398,365	$209	65
215 Myrtle Ln	0.41mi	5/5.5	2,176 (-1%)	3mo	$416,990	$192	64
125 Pampas St	0.42mi	4/2.5 (-1)	1,903 (-14%)	3mo	$401,425	$211	50
208 Myrtle Ln	0.49mi	4/2.5 (-1)	1,903 (-14%)	1mo	$413,125	$217	49
105 Pampas St	0.42mi	4/2.5 (-1)	1,903 (-14%)	7mo	$375,985	$198	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.67×
• Total profit: $-38,516
• Equity at exit: $111,406

10-year hold

• IRR: -1.0%
• Equity multiple: 0.89×
• Total profit: $-12,122
• Equity at exit: $127,700

Cash invested: $115,126 (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 27976

• Home prices YoY: -0.2%
• Active inventory: 86
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $3,300 medium
• Mortgage (P&I): −$2,156
• Tax est. 1.5%: −$514 /mo · $6,167/yr
• Insurance: −$171
• HOA: −$65
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $-299

Break-even live

Break-even rent $3,679

Max offer price $367,831

Occupancy floor —

Sensitivity live

Price	-10% $-15	-5% $-157	+0% $-299	+5% $-442	+10% $-584
Rent	-10% $-560	-5% $-430	+0% $-299	+5% $-169	+10% $-39
Rate	-1.0pp $-92	-0.5pp $-195	base $-299	+0.5pp $-406	+1.0pp $-514

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: $102,791
• Closing costs: $12,335
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Pampas ST South Mills, NC	4.0	2.5	1903	$3,300	$1.73	3d	1	0.44mi

HOA detail

• Monthly dues: $65 · $780/yr

Listing history 14 events

1. 2026-03-26
   status Pending 534-char remark

   Show marketing remark (534 chars)

   The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

2. 2026-03-26
   historical 534-char remark

   Show marketing remark (534 chars)

   The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

3. 2026-02-21
   status Pending 534-char remark

   Show marketing remark (534 chars)

   The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

4. 2026-02-20
   historical 534-char remark

   Show marketing remark (534 chars)

   The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

5. 2026-01-09
   status Pending 534-char remark

   Show marketing remark (534 chars)

   The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

6. 2026-01-09
   status Under Contract

   Show marketing remark (534 chars)

   The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

7. 2025-11-12
   historical 534-char remark

   Show marketing remark (534 chars)

   The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

8. 2025-11-12
   price $411,165 534-char remark

   Show marketing remark (534 chars)

   The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

9. 2025-11-12
   historical

   Show marketing remark (534 chars)

   The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

10. 2025-11-12
    price $411,165

    Show marketing remark (534 chars)

    The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

11. 2025-11-06
    price $396,935
12. 2025-10-10
    listed $391,935 Active 534-char remark

    Show marketing remark (534 chars)

    The Elder has it all. Step inside this 2-car garage single-family home, where a sprawling great room adjoins a gourmet kitchen with a large island that overlooks the dining area. A versatile flex room is ideal for a home office, hobby area or play space. Upstairs, two bedrooms each feature a walk-in closet and share a hall bath with a third bedroom. Inside your owner's suite, you'll find a luxurious dual-vanity bath and two walk-in closets. Entertain family and guests in the 2nd floor loft. Enjoy all that The Elder has to offer.

13. 2025-09-10
    price $391,935
14. 2025-09-04
    listed $396,935 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $39,600
• − Mortgage interest: −$23,032
• − Property taxes: −$6,167
• − Insurance: −$2,056
• − Repairs & maintenance: −$3,168
• − Management: −$3,168
• − HOA: −$780
• − Depreciation: −$11,961
• Taxable loss: −$10,732
• Est. tax savings @ 24.0%: +$2,576
• After-tax cash flow: $-1,018/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: Camden County Schools
• NCES district ID: 3700600
• Math proficiency: 56% ▲ 8.00%
• Reading proficiency: 64% ▲ 4.00%
• Median HH income: $59,622
• Composite: 51.97/100
• National rank: #1643
• State rank: #29 of 178 in NC

Livability — South Mills

• Score: 57/100
• State rank: #612
• US rank: #22229

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Mills, NC
• Population (ZIP): 4,237

Population outlook (Camden County) Hauer SSP2

• Today (2025): 10,980 people
• By 2030: 11,246 · +2.4%
• By 2040: 11,562 · +5.3%
• By 2050: 11,572 · +5.4%
• By 2075: 11,450 · +4.3%
• By 2100: 10,648 · -3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Scotch-Irish 4% Portuguese 3% Romanian 3%
• Languages at home: 98% English-only · Arabic 1%

Political lean MEDSL · Camden

• 2024 margin: Solid R (+50.8) · D 24.2% · R 75.0%
• 2008→2024 swing: -18.8pp toward R · 2008: -32.0pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+46.6 2016: R+45.8 2012: R+34.0 2008: R+32.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.39%
• Current HPI: 174.2102
• 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

+3.6% since first listed

14 events — show timeline

• 2026-03-26 Pending — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-02-21 Pending — Hive MLS
• 2026-02-20 Listing Removed — Hive MLS
• 2026-01-09 Pending — Hive MLS
• 2026-01-09 Pending — REINMLS
• 2025-11-12 Price Changed $411,165 REINMLS
• 2025-11-12 Listing Removed — REINMLS
• 2025-11-12 Price Changed $411,165 Hive MLS
• 2025-11-12 Listing Removed — Hive MLS
• 2025-11-06 Price Changed $396,935 REINMLS
• 2025-10-10 Listed $391,935 Hive MLS
• 2025-09-10 Price Changed $391,935 REINMLS
• 2025-09-04 Listed $396,935 REINMLS