11246 Highway 301 S · Benson, NC 27524

$205,000

3 bd · 1.5 ba · 1,296 sqft · SingleFamily · 3 Days on market

Built 1942 Good condition 0.76 ac lot Est $270k · 24% under

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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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Condition / age +3.8/5.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this quaint, updated three-bedroom, one-and-a-half-bath single family home with No City taxes and a large yard. No restrictions! No HOA. Situated on . 5 acre lot with adjoining 0.26 acre lot included in the price. This property offers substantial outdoor space for your lifestyle needs. Includes large laundry room with sink. Town of Benson water. Septic tank. Stove 2025. New A/C condenser fan 2025. New water heater element 2025. New bathroom vanity and lighting. New shiplap. Fast Brightspeed Internet. Close to Triangle area, Fayetteville, and Goldsboro. Home is being sold AS IS.

Key facts

• Septic tank
• Stove
• Large yard

Tags

• LARGE YARD
• SUBSTANTIAL OUTDOOR SPACE
• LARGE LAUNDRY ROOM
• TOWN OF BENSON WATER
• SEPTIC TANK
• STOVE

Property features AI

Exterior

• Parking: Has carport (1 space); Additional unpaved parking
• Utilities: Public water; Septic tank sewer; Water connected
• Home design: Single-family residence; One-story; Entry level: 1
• Construction: Vinyl siding and frame construction; Shingle roof; Combination foundation; Built as a residential single-family home
• Exterior features: Patio; Front porch; Storage building/outbuilding; Has a view; Level lot; Road frontage on city street and state road

Interior

• Kitchen: Refrigerator; Dishwasher; Electric range
• Bedrooms: Master downstairs
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump; Electric heating; Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Master bedroom on the main level; Window coverings
• Laundry & utility: Washer hookup; Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $205k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $84 ($1k/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 $190k (7.3% below list).
• Recommended offer: $190k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.2% in Benson — 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 68/100 on livability (#205 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• Johnston County Public Schools (rural): math 39% / reading 42% proficiency, ranked #105 of 178 in NC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Benson Elementary (math 27% / reading 32%, grade F, #975 of 1,410 statewide, top 71%, 608 students, 74% FRL); Benson Middle (math 27% / reading 32%, grade F, #343 of 475 statewide, top 73%, 511 students, 69% FRL); South Johnston High (math 27% / reading 27%, grade F, #468 of 535 statewide, top 88%, 1,331 students, 56% FRL) — zoned schools average 66% FRL vs 41% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 179 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,783 units permitted in Johnston County in 2024 (6 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 $6k of value loss. Plan a longer hold.
• Johnston County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% 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 $190,000 (7.3% below list)

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $269,568
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 Willa Chase Ct	0.38mi	3/2.0	1,420 (+10%)	13mo	$295,000	$208	54
113 Larksdale Cv	0.46mi	3/2.0	1,451 (+12%)	9mo	$297,000	$205	49
248-A Gilbert Rd	0.61mi	3/2.0	1,485 (+15%)	9mo	$385,000	$259	38

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: -13.5%
• Equity multiple: 0.52×
• Total profit: $-27,822
• Equity at exit: $30,566

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-17,197
• Equity at exit: $17,725

Cash invested: $57,400 (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 27524

• Home prices YoY: -8.4%
• Active inventory: 179
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,900 medium
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $84

Break-even live

Break-even rent $1,793

Max offer price $205,000

Occupancy floor 91%

Sensitivity live

Price	-10% $226	-5% $155	+0% $84	+5% $13	+10% $-57
Rent	-10% $-66	-5% $9	+0% $84	+5% $159	+10% $234
Rate	-1.0pp $188	-0.5pp $136	base $84	+0.5pp $31	+1.0pp $-23

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
481 Ivey Rd Benson, NC	3.0	2.0	1500	$1,900	$1.27	25d	1	0.80mi

Listing history 2 events

1. 2026-06-07
   remarks 595-char remark
2. 2026-06-07
   listed $205,000 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $22,800
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$5,964
• Taxable loss: −$2,395
• Est. tax savings @ 24.0%: +$575
• After-tax cash flow: $1,586/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This updated single-family home offers a good condition with recent improvements and a large yard, making it a solid investment opportunity.

Value-add opportunities

• Both landscaping and curb appeal — enhances curb appeal and could attract more buyers
• Both painting exterior — fresh paint can improve curb appeal and home value
• Resale upgrading kitchen appliances — new appliances can attract more buyers
• Resale upgrading bathroom fixtures — new fixtures can enhance the home's appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping and curb appeal — enhances curb appeal and could attract more buyers ↑
• Both painting exterior — fresh paint can improve curb appeal and home value ↑
• Resale upgrading kitchen appliances — new appliances can attract more buyers ↑
• Resale upgrading bathroom fixtures — new fixtures can enhance the home's appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Johnston County Public Schools
• NCES district ID: 3702370
• Math proficiency: 39% ▲ 4.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $50,912
• Composite: 34.99/100
• National rank: #5052
• State rank: #105 of 178 in NC

Livability — Benson

• Score: 68/100
• State rank: #205
• US rank: #9985

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 17,079
• Population (ZIP): 14,420

Population outlook (Johnston County) Hauer SSP2

• Today (2025): 222,440 people
• By 2030: 240,227 · +8.0%
• By 2040: 274,616 · +23.5%
• By 2050: 304,915 · +37.1%
• By 2075: 369,507 · +66.1%
• By 2100: 406,280 · +82.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 20% Black 12% Two or more races 4%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 10% · Canada
• Languages at home: 82% English-only · Spanish 17%

Political lean MEDSL · Johnston

• 2024 margin: Strong R (+21.5) · D 38.7% · R 60.2% · Other 1.1%
• 2008→2024 swing: +2.2pp toward D · 2008: -23.7pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+24.3 2016: R+30.7 2012: R+27.8 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.19%
• Current HPI: 252.1481
• 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

1 event — show timeline

• 2026-06-04 Listed $205,000 Hive MLS