212 N West Ave · Oak City, NC 27857

$19,900

3 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 423 Days on market

Built 1950 8,712 sqft lot ↓ 43% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Calling all Investors! Looking for an opportunity add to your portfolio? This 1500 square foot home could be your next FLIP. Great area with a lot of potential. Bring your vision and make it yours today.

Key facts

• 8,712 sq ft lot
• Built 1950
• Listed 422 days

Property features AI

Exterior

• Parking: On-site unpaved parking
• Utilities: Public water; Sewer available; Water available
• Home design: Single-family residence; One story; Residential property
• Construction: Frame construction; Metal roof
• Exterior features: Covered porch; Porch

Interior

• Bedrooms: Master downstairs
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Has cooling (type listed as Other)
• Interior features: Master suite on the ground floor; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $826 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#685 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, housing F.
• Martin County Schools (rural): math 24% / reading 34% proficiency, ranked #150 of 178 in NC (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: South Creek Middle (204 students, 98% FRL); South Creek High (math 9% / reading 22%, grade F, #510 of 535 statewide, top 95%, 236 students, 99% FRL) — zoned schools average 99% FRL vs 62% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 29% district-wide (-14 pts) — the specific schools serving this property underperform the Martin County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $735 of equity ($138 loan paydown + $597 appreciation (3.0% local appreciation)).
• Martin County population projected at -33% 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 423 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $17,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 423 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 1950 — 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. 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?
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: 6.11% ✓
• Cap rate: 56.10%
• Cash-on-cash: 177.87%
• DSCR: 8.91
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $69,972
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 S Chestnut St	0.22mi	3/1.0	1,314 (-4%)	17mo	$25,000	$19	68
307 Nc Hwy 11	0.25mi	3/1.0	1,468 (+7%)	22mo	$75,000	$51	58
325 E Commerce St	0.42mi	3/2.0	1,248 (-9%)	10mo	$185,400	$149	53

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: —
• Equity multiple: 10.87×
• Total profit: $55,016
• Equity at exit: $8,948

10-year hold

• IRR: —
• Equity multiple: 22.92×
• Total profit: $122,158
• Equity at exit: $13,790

Cash invested: $5,572 (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 27857

• Active inventory: 3
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,216 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$22 /mo · $262/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $826

Break-even live

Break-even rent $170

Max offer price $19,900

Occupancy floor 27%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $19,900 Active 423 DOM
2. 2026-06-18
   days on market $19,900 Active 422 DOM
3. 2026-06-17
   days on market $19,900 Active 421 DOM
4. 2026-06-16
   days on market $19,900 Active 420 DOM
5. 2026-06-15
   days on market $19,900 Active 419 DOM
6. 2026-06-14
   days on market $19,900 Active 417 DOM
7. 2026-06-12
   days on market $19,900 Active 416 DOM
8. 2026-06-09
   days on market $19,900 Active 413 DOM
9. 2026-06-08
   days on market $19,900 Active 412 DOM
10. 2026-06-07
    days on market $19,900 Active 411 DOM
11. 2026-06-03
    days on market $19,900 Active 407 DOM
12. 2026-06-02
    days on market $19,900 Active 406 DOM
13. 2026-06-01
    days on market $19,900 Active 405 DOM
14. 2026-05-31
    days on market $19,900 Active 404 DOM
15. 2026-05-30
    days on market $19,900 Active 403 DOM
16. 2026-04-23
    status Active
17. 2026-04-16
    price $19,900
18. 2026-04-15
    historical
19. 2025-11-24
    price $22,000
20. 2025-07-29
    price $25,000
21. 2025-06-13
    price $30,000
22. 2025-05-13
    price $33,000
23. 2025-04-15
    listed $35,000 Active

ⓘ 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: $262 · $22/mo
• Projected year-2 tax: $262 · $22/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 · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $14,588
• − Mortgage interest: −$1,115
• − Property taxes: −$262
• − Insurance: −$100
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$579
• Taxable income: $10,199
• Est. tax owed @ 24.0%: −$2,448
• After-tax cash flow: $7,463/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: Martin County Schools
• NCES district ID: 3702880
• Math proficiency: 24% ▼ -2.00%
• Reading proficiency: 34% ▲ 1.00%
• Median HH income: $35,403
• Composite: 23.94/100
• National rank: #7781
• State rank: #150 of 178 in NC

Livability — Oak City

• Score: 52/100
• State rank: #685
• US rank: #24745

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak City, NC
• Population (ZIP): 1,211

Population outlook (Martin County) Hauer SSP2

• Today (2025): 21,018 people
• By 2030: 19,693 · -6.3%
• By 2040: 16,793 · -20.1%
• By 2050: 14,171 · -32.6%
• By 2075: 9,804 · -53.4%
• By 2100: 6,894 · -67.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (55%)
• Race & ethnicity: Black 55% White 44%
• Common ancestry: Serbian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Martin

• 2024 margin: R (+10.3) · D 44.6% · R 54.9%
• 2008→2024 swing: -15.0pp toward R · 2008: 4.6pp · 2024: -10.3pp
• All cycles: 2024: R+10.3 2020: R+5.0 2016: R+0.5 2012: D+4.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-43.1% since first listed

8 events — show timeline

• 2026-04-23 Relisted — Hive MLS
• 2026-04-16 Price Changed $19,900 Hive MLS
• 2026-04-15 Listing Removed — Hive MLS
• 2025-11-24 Price Changed $22,000 Hive MLS
• 2025-07-29 Price Changed $25,000 Hive MLS
• 2025-06-13 Price Changed $30,000 Hive MLS
• 2025-05-13 Price Changed $33,000 Hive MLS
• 2025-04-15 Listed $35,000 Hive MLS

Property tax history

-4.7%/yr

Latest (2025): $262 · -21.7% YoY. Source: county tax records.