1008 Oakey St · Rocky Mount, NC 27803

$179,900

3 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 133 Days on market

Built 1954 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 +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home! This tastefully updated 3 bed + den, 1 bath home boasts many recent upgrades less than 12 months old! Improvements include a designer kitchen, new flooring, new paint just completed in April, and so much more! Enjoy the privacy of your dedicated home office space with barn door. The private, fenced-in rear yard offers ample space for entertaining as well! Come have a look!

Key facts

• Privacy fencing
• Large yard
• 7,841 sq ft lot

Tags

• STAINLESS STEEL REFRIGERATOR
• STAINLESS STEEL STOVE
• STAINLESS STEEL DISHWASHER
• LARGE YARD
• PRIVACY FENCING

Property features AI

Exterior

• Parking: Concrete and paved parking
• Utilities: Public water; Sewer available; Water available
• Home design: Single-family residence; One level / single-story
• Construction: Vinyl siding; Built with crawl space foundation
• Exterior features: Patio; Porch; Back yard fencing; Wood fence; Shingle roof; Has a view; City street and state road frontage

Interior

• Kitchen: Refrigerator; Dishwasher; Electric range
• Bedrooms: Master downstairs
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Master bedroom on the main floor; Crawl space basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $38 ($453/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 $138k (23.3% below list).
• Recommended offer: $138k (23.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Williford Elementary (201 students, 98% FRL); G R Edwards Middle (math 20% / reading 31%, grade F, #388 of 475 statewide, top 83%, 410 students, 88% FRL); Rocky Mount High (math 27% / reading 36%, grade F, #449 of 535 statewide, top 85%, 1,072 students, 76% FRL) — zoned schools average 87% FRL vs 59% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.5%/yr); 171 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 133 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $153k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $138,037 (23.3% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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: 0.77% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $114,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1642 W Raleigh Blvd	0.23mi	3/1.0	1,170 (+0%)	9mo	$158,000	$135	80
1809 Burton St	0.18mi	3/1.5	1,135 (-2%)	10mo	$80,000	$70	77
1144 Nashville Rd	0.21mi	3/1.0	1,104 (-5%)	11mo	$135,900	$123	72
1201 York St	0.31mi	3/2.0	1,243 (+7%)	2mo	$91,000	$73	69
902 Nashville Rd	0.16mi	2/1.5 (-1)	1,293 (+11%)	0mo	$57,900	$45	67
623 Henry St	0.67mi	3/1.0	1,188 (+2%)	4mo	$21,000	$18	62
1200 Calvary St	0.28mi	3/1.0	1,050 (-10%)	10mo	$140,000	$133	62
1416 Betz St	0.29mi	3/1.5	1,064 (-9%)	10mo	$100,000	$94	62
605 Dexter St	0.68mi	3/1.0	1,216 (+4%)	2mo	$65,000	$53	60
625 Powell Dr	0.68mi	3/1.5	1,212 (+4%)	1mo	$148,500	$123	59
513 Mullins St	0.69mi	3/1.0	1,056 (-9%)	4mo	$103,000	$98	49
614 Henry St	0.71mi	3/1.0	1,310 (+12%)	13mo	$130,000	$99	35

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: -12.5%
• Equity multiple: 0.54×
• Total profit: $-23,268
• Equity at exit: $26,824

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-2,115
• Equity at exit: $15,554

Cash invested: $50,372 (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: 171
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,380 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$34 /mo · $412/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $38

Break-even live

Break-even rent $1,333

Max offer price $179,900

Occupancy floor 92%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-19
   days on market $179,900 Active 133 DOM
2. 2026-06-18
   days on market $179,900 Active 132 DOM
3. 2026-06-17
   days on market $179,900 Active 131 DOM
4. 2026-06-16
   days on market $179,900 Active 130 DOM
5. 2026-06-15
   days on market $179,900 Active 129 DOM
6. 2026-06-14
   days on market $179,900 Active 127 DOM
7. 2026-06-13
   days on market $179,900 Active 126 DOM
8. 2026-06-10
   days on market $179,900 Active 124 DOM
9. 2026-06-09
   days on market $179,900 Active 123 DOM
10. 2026-06-08
    days on market $179,900 Active 122 DOM
11. 2026-06-07
    days on market $179,900 Active 121 DOM
12. 2026-06-03
    days on market $179,900 Active 117 DOM
13. 2026-06-02
    days on market $179,900 Active 116 DOM
14. 2026-06-01
    days on market $179,900 Active 115 DOM
15. 2026-05-31
    days on market $179,900 Active 114 DOM
16. 2026-05-30
    days on market $179,900 Active 113 DOM
17. 2026-02-04
    listed $179,900 Active
18. 2025-06-12
    soldstatus $153,000 Closed 393-char remark

    Show marketing remark (393 chars)

    Welcome Home! This tastefully updated 3 bed + den, 1 bath home boasts many recent upgrades less than 12 months old! Improvements include a designer kitchen, new flooring, new paint just completed in April, and so much more! Enjoy the privacy of your dedicated home office space with barn door. The private, fenced-in rear yard offers ample space for entertaining as well! Come have a look!

19. 2025-06-12
    soldstatus $153,000

    Show marketing remark (393 chars)

    Welcome Home! This tastefully updated 3 bed + den, 1 bath home boasts many recent upgrades less than 12 months old! Improvements include a designer kitchen, new flooring, new paint just completed in April, and so much more! Enjoy the privacy of your dedicated home office space with barn door. The private, fenced-in rear yard offers ample space for entertaining as well! Come have a look!

20. 2025-04-28
    status Pending 393-char remark

    Show marketing remark (393 chars)

    Welcome Home! This tastefully updated 3 bed + den, 1 bath home boasts many recent upgrades less than 12 months old! Improvements include a designer kitchen, new flooring, new paint just completed in April, and so much more! Enjoy the privacy of your dedicated home office space with barn door. The private, fenced-in rear yard offers ample space for entertaining as well! Come have a look!

21. 2025-04-24
    listed $159,950 Active 393-char remark

    Show marketing remark (393 chars)

    Welcome Home! This tastefully updated 3 bed + den, 1 bath home boasts many recent upgrades less than 12 months old! Improvements include a designer kitchen, new flooring, new paint just completed in April, and so much more! Enjoy the privacy of your dedicated home office space with barn door. The private, fenced-in rear yard offers ample space for entertaining as well! Come have a look!

22. 2025-04-07
    soldstatus $87,500
23. 2024-08-27
    soldstatus $164,900 Sold 290-char remark

    Show marketing remark (290 chars)

    This charming 3 bedrooms/1 full baths ranch style home has been updated. Inside you will find beautiful kitchen with new cabinets, countertops, and SS appliances. New LVP flooring and home office with a barn door. This home is ready for its new owners to move right in and make it your own,

24. 2024-08-27
    soldstatus $165,000

    Show marketing remark (290 chars)

    This charming 3 bedrooms/1 full baths ranch style home has been updated. Inside you will find beautiful kitchen with new cabinets, countertops, and SS appliances. New LVP flooring and home office with a barn door. This home is ready for its new owners to move right in and make it your own,

25. 2024-08-05
    status Pending 290-char remark

    Show marketing remark (290 chars)

    This charming 3 bedrooms/1 full baths ranch style home has been updated. Inside you will find beautiful kitchen with new cabinets, countertops, and SS appliances. New LVP flooring and home office with a barn door. This home is ready for its new owners to move right in and make it your own,

26. 2024-07-25
    price $163,900 290-char remark

    Show marketing remark (290 chars)

    This charming 3 bedrooms/1 full baths ranch style home has been updated. Inside you will find beautiful kitchen with new cabinets, countertops, and SS appliances. New LVP flooring and home office with a barn door. This home is ready for its new owners to move right in and make it your own,

27. 2024-06-11
    price $164,900 290-char remark

    Show marketing remark (290 chars)

    This charming 3 bedrooms/1 full baths ranch style home has been updated. Inside you will find beautiful kitchen with new cabinets, countertops, and SS appliances. New LVP flooring and home office with a barn door. This home is ready for its new owners to move right in and make it your own,

28. 2024-05-30
    listed $169,900 Active 290-char remark

    Show marketing remark (290 chars)

    This charming 3 bedrooms/1 full baths ranch style home has been updated. Inside you will find beautiful kitchen with new cabinets, countertops, and SS appliances. New LVP flooring and home office with a barn door. This home is ready for its new owners to move right in and make it your own,

29. 2024-04-10
    soldstatus $90,000 Closed
30. 2024-03-27
    status Pending
31. 2024-03-22
    price $95,000
32. 2024-03-13
    price $99,000
33. 2024-03-07
    status Active
34. 2024-03-07
    price $105,000
35. 2024-02-12
    status Pending
36. 2024-02-06
    listed $110,000 Active
37. 2023-11-29
    soldstatus $60,500

ⓘ 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: $412 · $34/mo
• Projected year-2 tax: $1,475 · $123/mo
• Expected delta: +$1,063/yr (+$89/mo · 258.1%)

ⓘ 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 ≥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: $16,564
• − Mortgage interest: −$10,077
• − Property taxes: −$412
• − Insurance: −$900
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$5,233
• Taxable loss: −$2,708
• Est. tax savings @ 24.0%: +$650
• After-tax cash flow: $1,103/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

+197.4% since first listed

21 events — show timeline

• 2026-02-04 Listed $179,900 Hive MLS
• 2025-06-12 Sold (Public Records) $153,000 Public Records
• 2025-06-12 Sold (MLS) $153,000 Hive MLS
• 2025-04-28 Pending — Hive MLS
• 2025-04-24 Listed $159,950 Hive MLS
• 2025-04-07 Sold (Public Records) $87,500 Public Records
• 2024-08-27 Sold (Public Records) $165,000 Public Records
• 2024-08-27 Sold (MLS) $164,900 TMLS
• 2024-08-05 Pending — TMLS
• 2024-07-25 Price Changed $163,900 TMLS
• 2024-06-11 Price Changed $164,900 TMLS
• 2024-05-30 Listed $169,900 TMLS
• 2024-04-10 Sold (MLS) $90,000 Hive MLS
• 2024-03-27 Pending — Hive MLS
• 2024-03-22 Price Changed $95,000 Hive MLS
• 2024-03-13 Price Changed $99,000 Hive MLS
• 2024-03-07 Relisted — Hive MLS
• 2024-03-07 Price Changed $105,000 Hive MLS
• 2024-02-12 Pending — Hive MLS
• 2024-02-06 Listed $110,000 Hive MLS
• 2023-11-29 Sold (Public Records) $60,500 Public Records

Property tax history

+0.9%/yr

Latest (2025): $412 · +2330.4% YoY. Source: county tax records.