813 S Franklin St · Rocky Mount, NC 27803

$172,000

3 bd · 1.0 ba · 1,334 sqft · SingleFamily public records · 185 Days on market

Built 1910 7,841 sqft lot

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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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

PRICE IMPROVEMENT!! This beautiful house is Back on the market! No fault of the seller. This beautifully renovated home has been transformed throughout with new flooring, fresh sheetrock, updated walls, modern fixtures, and extensive interior improvements. Sellers report making updates to electrical and plumbing systems, giving the home a refreshed and move-in-ready feel. Located near Downtown Rocky Mount, shopping, and major highways, offering easy access and great lifestyle convenience. With its fresh presentation this home is ready to shine for its next buyer. NO OWNER FINANCE! * * Property is virtually Staged * *

Key facts

• Updated electrical
• Renovated home
• Updated walls

Tags

• RENOVATED HOME
• NEW FLOORING
• UPDATED WALLS
• MODERN FIXTURES
• INTERIOR IMPROVEMENTS
• UPDATED ELECTRICAL

Property features AI

Finance

• Other: Zoned R-6MFA
• HOA & community: No association

Exterior

• Parking: Two open parking spaces (total 2)
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Site-built home; Single level; Updated/remodeled condition; No waterfront
• Construction: Frame construction with vinyl and wood siding; Asphalt shingle roof; Block foundation; Built as a site-built structure
• Exterior features: Balcony; Back yard with wood fencing; Cleared and grassed yard; City street frontage on a public maintained, paved road

Interior

• Kitchen: Built-in electric range; Built-in range; Refrigerator
• Bedrooms: Three bedrooms, all on the main level
• Flooring: Luxury vinyl; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Fireplace heating; Heat pump; Ceiling fans; Central air conditioning
• Interior features: Bathtub/shower combination; Wood-burning fireplaces in dining room and family room (2 total)
• Laundry & utility: Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $172k.

Deal economics

• At list price, monthly cash flow is $68 ($820/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 $139k (19.4% below list).
• Recommended offer: $139k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.5% in Rocky Mount — 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 70/100 on livability (#134 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, employment F.
• Nash-Rocky Mount Schools (rural): math 20% / reading 32% proficiency, ranked #155 of 178 in NC (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rocky Mount Middle (math 7% / reading 26%, grade F, #449 of 475 statewide, top 96%, 407 students, 97% FRL) — zoned schools average 97% FRL vs 59% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.5%/yr); 175 active listings in the ZIP; 500 units permitted in Nash 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 $5k of value loss. Plan a longer hold.
• Nash County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($151k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $13k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $172k implies a 1711% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 73% 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 $138,683 (19.4% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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?
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: 0.81% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $70,702
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
625 W Raleigh Blvd	0.31mi	3/1.0	1,332 (-0%)	7mo	$30,000	$23	80
906 Arlington St	0.36mi	4/2.0 (+1)	1,326 (-1%)	1mo	$180,000	$136	72
923 Belvedere St	0.11mi	3/1.5	1,502 (+13%)	4mo	$125,000	$83	68
517 Henry St	0.32mi	3/1.5	1,420 (+6%)	8mo	$62,500	$44	66
605 Dexter St	0.40mi	3/1.0	1,216 (-9%)	2mo	$65,000	$53	65
733 Cedarbrook Dr	0.70mi	3/1.0	1,322 (-1%)	2mo	$84,000	$64	65
715 Clark St	0.48mi	4/1.0 (+1)	1,378 (+3%)	3mo	$40,000	$29	65
216 S Tillery St	0.72mi	3/1.0	1,324 (-1%)	4mo	$74,500	$56	62
225 Hendricks St	0.34mi	2/1.0 (-1)	1,203 (-10%)	2mo	$20,000	$17	61
623 Henry St	0.41mi	3/1.0	1,188 (-11%)	4mo	$21,000	$18	60
414 Dexter St	0.25mi	3/1.0	1,154 (-14%)	8mo	$62,500	$54	59
522 S Vyne St	0.64mi	2/1.0 (-1)	1,440 (+8%)	6mo	$55,000	$38	47

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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.58×
• Total profit: $-20,008
• Equity at exit: $25,646

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $3,372
• Equity at exit: $14,871

Cash invested: $48,160 (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 27803

• Rents YoY: 5.5%
• Active inventory: 175
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,387 medium
• Mortgage (P&I): −$902
• Tax from tax record: −$54 /mo · $643/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $68

Break-even live

Break-even rent $1,300

Max offer price $172,000

Occupancy floor 90%

Sensitivity live

Price	-10% $166	-5% $117	+0% $68	+5% $20	+10% $-29
Rent	-10% $-41	-5% $14	+0% $68	+5% $123	+10% $178
Rate	-1.0pp $155	-0.5pp $112	base $68	+0.5pp $24	+1.0pp $-22

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: $43,000
• Closing costs: $5,160
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-08
   days on market $172,000 Active 185 DOM
2. 2026-06-07
   days on market $172,000 Active 184 DOM
3. 2026-06-03
   days on market $172,000 Active 180 DOM
4. 2026-06-02
   days on market $172,000 Active 179 DOM
5. 2026-06-01
   days on market $172,000 Active 178 DOM
6. 2026-05-31
   days on market $172,000 Active 177 DOM
7. 2026-05-30
   days on market $172,000 Active 176 DOM
8. 2026-05-07
   price $172,000
9. 2026-04-06
   status Active
10. 2026-04-06
    price $177,000
11. 2026-03-02
    historical Active Under Contract
12. 2026-02-26
    price $179,999
13. 2026-01-13
    price $182,000
14. 2025-12-05
    listed $185,000 Active
15. 2025-10-13
    historical
16. 2025-10-13
    historical
17. 2025-09-19
    price $189,900
18. 2025-07-10
    price $189,900
19. 2025-04-18
    listed $198,000 Active
20. 2025-04-18
    listed $198,000 Active
21. 2015-01-13
    soldstatus $9,500
22. 2014-07-04
    listed $9,900
23. 2013-11-21
    historical
24. 2012-04-18
    listed $59,900

ⓘ 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: $643 · $54/mo
• Projected year-2 tax: $1,410 · $118/mo
• Expected delta: +$767/yr (+$64/mo · 119.2%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,642
• − Mortgage interest: −$9,635
• − Property taxes: −$643
• − Insurance: −$860
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$5,004
• Taxable loss: −$2,163
• Est. tax savings @ 24.0%: +$519
• After-tax cash flow: $1,339/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: Nash-Rocky Mount Schools
• NCES district ID: 3703270
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $41,553
• Composite: 22.04/100
• National rank: #8198
• State rank: #155 of 178 in NC

Livability — Rocky Mount

• Score: 70/100
• State rank: #134
• US rank: #7692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky Mount, NC
• County: Nash County · 50,768 people
• City population: 70,300
• Metro: Rocky Mount, NC
• Population (ZIP): 20,055
• Household income: $60,124
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 641.0

Population outlook (Nash County) Hauer SSP2

• Today (2025): 91,107 people
• By 2030: 89,193 · -2.1%
• By 2040: 84,959 · -6.7%
• By 2050: 80,517 · -11.6%
• By 2075: 72,941 · -19.9%
• By 2100: 63,602 · -30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 46% Black 44% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 1% Other Indo-European 1%

Political lean MEDSL · Nash

• 2024 margin: Toss-up / Even · D 48.7% · R 50.5%
• 2008→2024 swing: -0.4pp no change · 2008: -1.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.2 2016: R+0.2 2012: D+0.9 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.95%
• Current HPI: 190.0204
• Rent YoY: ▲ 5.51%
• Metro: Rocky Mount, 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

+187.1% since first listed

17 events — show timeline

• 2026-05-07 Price Changed $172,000 TMLS
• 2026-04-06 Relisted — TMLS
• 2026-04-06 Price Changed $177,000 TMLS
• 2026-03-02 Contingent — TMLS
• 2026-02-26 Price Changed $179,999 TMLS
• 2026-01-13 Price Changed $182,000 TMLS
• 2025-12-05 Listed $185,000 TMLS
• 2025-10-13 Listing Removed — TMLS
• 2025-10-13 Listing Removed — Hive MLS
• 2025-09-19 Price Changed $189,900 TMLS
• 2025-07-10 Price Changed $189,900 Hive MLS
• 2025-04-18 Listed $198,000 TMLS
• 2025-04-18 Listed $198,000 Hive MLS
• 2015-01-13 Sold (MLS) $9,500 Hive MLS
• 2014-07-04 Listed $9,900 Hive MLS
• 2013-11-21 Listing Removed — Hive MLS
• 2012-04-18 Listed $59,900 Hive MLS

Property tax history

+8.2%/yr

Latest (2025): $643 · +77.3% YoY. Source: county tax records.