406 E 16th St · Scotland Neck, NC 27874

$80,000

2 bd · 1.0 ba · 975 sqft · SingleFamily public records · 213 Days on market

Built 1969 4,792 sqft lot

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Why this score? — see what drove the C+ 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 +25.5/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• 1% rule +6.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Great investment property within the city limits. Three bedrooms and one bath. The wood floor needs repair. There is no furnace in home. Great fixer upper for the right investor. Convenient to shopping and downtown. Home is being sold ''as is. '' Schedule an appointment today for a showing.

Key facts

• 4,792 sq ft lot
• Built 1969
• Listed 212 days

Property features AI

Finance

• Other: Zoned SFH (single-family housing)
• HOA & community: No association amenities

Exterior

• Parking: No formal parking; unpaved parking
• Utilities: Water connected; Sewer connected
• Home design: Single-family residence; One story; Residential property
• Construction: Brick and frame construction; Built on crawl space
• Exterior features: Shingle roof; No patio or porch; No fencing; Road frontage on city street and state road

Interior

• Bedrooms: 5 total rooms (number of bedrooms not specified separately)
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane and electric heating; No central cooling
• Interior features: Primary bedroom located on the main level; No basement (crawl space)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#566 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A, crime A-; Watch: housing D, amenities F, commute F.
• Halifax County Schools (rural): math 6% / reading 24% proficiency, ranked #177 of 178 in NC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Enfield Middle S.T.E.A.M. Academy (math 2% / reading 15%, grade F, #475 of 475 statewide, top 100%, 210 students, 99% FRL) — zoned schools average 99% FRL vs 82% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 22 active listings in the ZIP; 55 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($553 loan paydown + $3k appreciation (3.5% local appreciation)).
• Halifax County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $80k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 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 1969 — 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. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.05%
• DSCR: 1.45
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $31,200
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1414 Greenwood St	0.16mi	3/1.0 (+1)	991 (+2%)	11mo	$4,000	$4	76
1715 Main St	0.41mi	1/0.5 (-1)	850 (-13%)	6mo	$50,000	$59	47
615 Greenwood St	0.70mi	3/1.0 (+1)	1,046 (+7%)	15mo	$8,000	$8	38
1612 Woodlawn Dr	0.62mi	3/1.0 (+1)	1,080 (+11%)	18mo	$125,000	$116	33
412 E 8th St	0.59mi	2/1.0	1,102 (+13%)	22mo	$35,000	$32	33

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

Projected returns pro-forma

3.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.1%
• Equity multiple: 2.06×
• Total profit: $23,696
• Equity at exit: $38,228

10-year hold

• IRR: 19.1%
• Equity multiple: 3.90×
• Total profit: $65,021
• Equity at exit: $60,732

Cash invested: $22,400 (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 27874

• Home prices YoY: 2.0%
• Active inventory: 22
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $877 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $188

Break-even live

Break-even rent $639

Max offer price $80,000

Occupancy floor 74%

Sensitivity live

Price	-10% $233	-5% $210	+0% $188	+5% $165	+10% $142
Rent	-10% $118	-5% $153	+0% $188	+5% $222	+10% $257
Rate	-1.0pp $228	-0.5pp $208	base $188	+0.5pp $167	+1.0pp $146

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $80,000 Active 213 DOM
2. 2026-06-19
   days on market $80,000 Active 211 DOM
3. 2026-06-18
   days on market $80,000 Active 210 DOM
4. 2026-06-17
   days on market $80,000 Active 209 DOM
5. 2026-06-16
   days on market $80,000 Active 208 DOM
6. 2026-06-15
   days on market $80,000 Active 207 DOM
7. 2026-06-14
   days on market $80,000 Active 205 DOM
8. 2026-06-12
   days on market $80,000 Active 204 DOM
9. 2026-06-09
   days on market $80,000 Active 201 DOM
10. 2026-06-08
    days on market $80,000 Active 200 DOM
11. 2026-06-07
    days on market $80,000 Active 199 DOM
12. 2026-06-07
    days on market $80,000 Active 198 DOM
13. 2026-06-02
    days on market $80,000 Active 194 DOM
14. 2026-06-01
    days on market $80,000 Active 193 DOM
15. 2026-05-31
    days on market $80,000 Active 192 DOM
16. 2026-05-30
    days on market $80,000 Active 191 DOM
17. 2026-05-07
    status Active
18. 2026-04-30
    historical
19. 2025-11-02
    listed $80,000 Active
20. 2024-03-05
    soldstatus $40,000 Closed 292-char remark

    Show marketing remark (292 chars)

    Great investment property within the city limits. Three bedrooms and one bath. The wood floor needs repair. There is no furnace in home. Great fixer upper for the right investor. Convenient to shopping and downtown. Home is being sold ''as is. '' Schedule an appointment today for a showing.

21. 2024-03-05
    soldstatus $40,000 Sold 292-char remark

    Show marketing remark (292 chars)

    Great investment property within the city limits. Three bedrooms and one bath. The wood floor needs repair. There is no furnace in home. Great fixer upper for the right investor. Convenient to shopping and downtown. Home is being sold ''as is. '' Schedule an appointment today for a showing.

22. 2023-11-28
    status Pending 292-char remark

    Show marketing remark (292 chars)

    Great investment property within the city limits. Three bedrooms and one bath. The wood floor needs repair. There is no furnace in home. Great fixer upper for the right investor. Convenient to shopping and downtown. Home is being sold ''as is. '' Schedule an appointment today for a showing.

23. 2023-11-07
    status Pending 292-char remark

    Show marketing remark (292 chars)

    Great investment property within the city limits. Three bedrooms and one bath. The wood floor needs repair. There is no furnace in home. Great fixer upper for the right investor. Convenient to shopping and downtown. Home is being sold ''as is. '' Schedule an appointment today for a showing.

24. 2023-11-07
    status Pending 292-char remark

    Show marketing remark (292 chars)

    Great investment property within the city limits. Three bedrooms and one bath. The wood floor needs repair. There is no furnace in home. Great fixer upper for the right investor. Convenient to shopping and downtown. Home is being sold ''as is. '' Schedule an appointment today for a showing.

25. 2023-11-03
    listed $50,000 Active 292-char remark

    Show marketing remark (292 chars)

    Great investment property within the city limits. Three bedrooms and one bath. The wood floor needs repair. There is no furnace in home. Great fixer upper for the right investor. Convenient to shopping and downtown. Home is being sold ''as is. '' Schedule an appointment today for a showing.

26. 2023-11-03
    listed $50,000 Active 292-char remark

    Show marketing remark (292 chars)

    Great investment property within the city limits. Three bedrooms and one bath. The wood floor needs repair. There is no furnace in home. Great fixer upper for the right investor. Convenient to shopping and downtown. Home is being sold ''as is. '' Schedule an appointment today for a showing.

ⓘ 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: $628 · $52/mo
• Projected year-2 tax: $656 · $55/mo
• Expected delta: +$28/yr (+$2/mo · 4.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,524
• − Mortgage interest: −$4,481
• − Property taxes: −$628
• − Insurance: −$400
• − Repairs & maintenance: −$842
• − Management: −$842
• − Depreciation: −$2,327
• Taxable income: $1,004
• Est. tax owed @ 24.0%: −$241
• After-tax cash flow: $2,011/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: Halifax County Schools
• NCES district ID: 3701950
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 24% ▼ -1.00%
• Median HH income: $29,104
• Composite: 11.7/100
• National rank: #9690
• State rank: #177 of 178 in NC

Livability — Scotland Neck

• Score: 58/100
• State rank: #566
• US rank: #20832

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Scotland Neck, NC
• City population: 3,677
• Population (ZIP): 3,677

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 47,976 people
• By 2030: 45,450 · -5.3%
• By 2040: 39,980 · -16.7%
• By 2050: 34,863 · -27.3%
• By 2075: 25,577 · -46.7%
• By 2100: 18,365 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (74%)
• Race & ethnicity: Black 74% White 25%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Halifax

• 2024 margin: D (+17.7) · D 58.5% · R 40.9%
• 2008→2024 swing: -10.6pp toward R · 2008: 28.2pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+21.2 2016: D+26.9 2012: D+32.0 2008: D+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.50%
• Current HPI: 180.5586
• 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

+60.0% since first listed

10 events — show timeline

• 2026-05-07 Relisted — Hive MLS
• 2026-04-30 Listing Removed — Hive MLS
• 2025-11-02 Listed $80,000 Hive MLS
• 2024-03-05 Sold (MLS) $40,000 TMLS
• 2024-03-05 Sold (MLS) $40,000 Hive MLS
• 2023-11-28 Pending — TMLS
• 2023-11-07 Pending — Hive MLS
• 2023-11-07 Pending — TMLS
• 2023-11-03 Listed $50,000 TMLS
• 2023-11-03 Listed $50,000 Hive MLS

Property tax history

+2.8%/yr

Latest (2024): $628 · +36.3% YoY. Source: county tax records.