514 New River Dr · Jacksonville, NC 28540

$150,000

2 bd · 1.0 ba · 750 sqft · SingleFamily public records · 116 Days on market

Built 1953 9,627 sqft lot Est $149k · at est. ↓ 5% 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 +15.1/30.0
• ARV discount +7.3/15.0
• DSCR +4.6/10.0
• Schools +3.9/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 514 New River Drive, a beautifully refreshed 2-bedroom, 1-bath home offering comfort, functionality, and a convenient location. This recently updated residence features a fully fenced backyard, perfect for pets, play, or outdoor entertaining. Inside, you'll find tasteful updates that create a warm and inviting atmosphere, making this home move-in ready. Located just minutes from shopping, dining, schools, and major roadways, this property offers easy access to everything Jacksonville has to offer, including nearby bases and local amenities. Whether you're a first-time buyer, downsizing, or looking for a great investment opportunity, this home checks all the boxes. Don't miss your

Key facts

• Convenient location
• 9,627 sq ft lot
• Built 1953

Tags

• FULLY FENCED BACKYARD
• CONVENIENT LOCATION
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO MAJOR ROADWAYS

Property features AI

Finance

• Other: Zoning: RSF-7
• HOA & community: No association amenities

Exterior

• Parking: On-site parking
• Utilities: Public water; Water connected
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Frame construction; See remarks for additional construction details
• Exterior features: Porch; Back yard fencing; Shingle roof; Has a view; Paved road frontage on city street and state road

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Window coverings; Unfurnished; Crawl space basement
• Laundry & utility: Washer hookup in kitchen; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $49 ($589/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (17.9% below list).
• Recommended offer: $123k (17.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.4% in Jacksonville — 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 71/100 on livability (#111 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clyde Erwin Elementary (math 32% / reading 47%, grade F, #694 of 1,410 statewide, top 53%, 343 students, 67% FRL); Northwoods Park Middle (math 34% / reading 46%, grade F, #222 of 475 statewide, top 49%, 688 students, 52% FRL); Jacksonville High (math 52% / reading 66%, grade C+, #233 of 535 statewide, top 44%, 1,423 students, 44% FRL) — zoned schools average 55% FRL vs 37% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 386 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 98% 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 $123,168 (17.9% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. 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?
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: 0.82% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $149,250
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
514 New River Dr	0.00mi	2/1.0	750 (0%)	1mo	$149,000	$199	99
101 Robin Rd	0.04mi	2/1.0	755 (+1%)	2mo	$129,900	$172	96
117 Bryan St	0.18mi	2/1.0	792 (+6%)	6mo	$125,000	$158	78
523 New River Dr	0.08mi	2/1.0	815 (+9%)	8mo	$154,000	$189	75
420 New River Dr	0.20mi	2/1.0	800 (+7%)	11mo	$160,000	$200	71
401 New River Dr	0.28mi	2/1.0	800 (+7%)	9mo	$168,000	$210	68
127 Moosehart Ave	0.55mi	2/1.0	846 (+13%)	1mo	$185,000	$219	52
717 New River Dr	0.32mi	2/1.0	825 (+10%)	22mo	$100,000	$121	50
130 Cox Ave	0.54mi	2/2.0	680 (-9%)	22mo	$168,900	$248	37

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 · 4.47% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.54×
• Total profit: $-19,381
• Equity at exit: $22,365

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-5,239
• Equity at exit: $12,969

Cash invested: $42,000 (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 28540

• Home prices YoY: -21.5%
• Rents YoY: 4.5%
• Active inventory: 386
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,232 high
• Mortgage (P&I): −$787
• Tax from tax record: −$75 /mo · $898/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $49

Break-even live

Break-even rent $1,170

Max offer price $150,000

Occupancy floor 91%

Sensitivity live

Price	-10% $134	-5% $92	+0% $49	+5% $7	+10% $-36
Rent	-10% $-48	-5% $0	+0% $49	+5% $98	+10% $146
Rate	-1.0pp $125	-0.5pp $87	base $49	+0.5pp $10	+1.0pp $-29

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2292 Onslow Dr Unit O23002 Jacksonville, NC	2.0	1.0	649	$1,199	$1.85	15d	1	0.31mi
2292 Onslow Dr Unit 1814 Jacksonville, NC	2.0	1.0	649	$1,299	$2.00	23d	1	0.32mi
2292 Onslow Dr Unit 2300 Jacksonville, NC	2.0	1.0	649	$1,199	$1.85	23d	1	0.32mi
337 Starling St Jacksonville, NC	2.0	1.0	820	$1,100	$1.34	23d	1	0.37mi
508 Henderson Dr Jacksonville, NC	3.0	1.0	1050	$1,400	$1.33	23d	1	1.15mi
319 Bracken Pl Jacksonville, NC	2.0	3.0	992	$1,150	$1.16	23d	1	1.24mi

Listing history 8 events

1. 2026-04-29
   status Pending
2. 2026-04-24
   price $150,000
3. 2026-03-30
   price $155,000
4. 2026-03-10
   price $157,000
5. 2026-02-18
   price $157,500
6. 2026-01-03
   listed $157,900 Active
7. 2025-01-24
   historical $995
8. 2025-01-09
   listed $995

ⓘ 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: $898 · $75/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$332/yr (+$28/mo · 37.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,780
• − Mortgage interest: −$8,402
• − Property taxes: −$898
• − Insurance: −$750
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$4,364
• Taxable loss: −$1,998
• Est. tax savings @ 24.0%: +$480
• After-tax cash flow: $1,069/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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Jacksonville

• Score: 71/100
• State rank: #111
• US rank: #6991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jacksonville, NC
• County: Onslow County · 164,453 people
• City population: 96,397
• Metro: Jacksonville, NC
• Population (ZIP): 49,141
• Household income: $65,625
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1304.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 62% Black 14% Hispanic / Latino 14% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6%
• Common ancestry: Italian 3% Serbian 2% Romanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 90% English-only · Spanish 7% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.11%
• Current HPI: 219.5571
• Rent YoY: ▲ 4.47%
• Metro: Jacksonville, 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

-5.0% since first listed

8 events — show timeline

• 2026-04-29 Pending — Hive MLS
• 2026-04-24 Price Changed $150,000 Hive MLS
• 2026-03-30 Price Changed $155,000 Hive MLS
• 2026-03-10 Price Changed $157,000 Hive MLS
• 2026-02-18 Price Changed $157,500 Hive MLS
• 2026-01-03 Listed $157,900 Hive MLS
• 2025-01-24 Rental Removed $995 APPFOLIO
• 2025-01-09 Listed for Rent $995 APPFOLIO

Property tax history

-0.3%/yr

Latest (2025): $898 · +0.0% YoY. Source: county tax records.