260 Pearl St · Aurora, NC 27806

$60,000

3 bd · 1.5 ba · 1,204 sqft · SingleFamily public records · 7 Days on market

Built 1966 0.76 ac lot Est $87k · 31% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +3.6/10.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

3 BEDROOM HOME/ Hunting Camp - 3 bedroom brick home with attached carport and fenced in back yard. Comes with one, and one half baths. Also comes with an adjoining . 40 acre lot. This property is about a block from South Creek and the Public Boat Ramp. This property may be perfect for the Fisherman or Hunter. Just 13 miles to the Intercoastal Waterway and the Pamlico Sound. Duck Hunters Paradise. This property will make a perfect Hunting and Fishing Camp. Needs work, sold as is.

Key facts

• Attached carport
• Adjoining lot
• Public boat ramp

Tags

• ATTACHED CARPORT
• FENCED IN BACK YARD
• ADJOINING LOT
• PUBLIC BOAT RAMP

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).

Location & tenants

• Location reads 61/100 on livability (#481 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: health & safety C-, crime F, amenities F.
• Beaufort County Schools (rural): math 39% / reading 42% proficiency, ranked #112 of 178 in NC (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Chocowinity Primary (math 67% / reading 67%, grade B+, #120 of 1,410 statewide, top 9%, 493 students, 99% FRL); Chocowinity Middle (math 35% / reading 39%, grade F, #262 of 475 statewide, top 57%, 368 students, 99% FRL); Southside High (math 42% / reading 47%, grade F, #352 of 535 statewide, top 68%, 422 students, 99% FRL) — zoned schools average 99% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 35 active listings in the ZIP; 216 units permitted in Beaufort County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.8%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Beaufort County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.8% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y ago; this cycle's ask is 99900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. 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: 1.83% ✓
• Cap rate: 14.52%
• Cash-on-cash: 29.39%
• DSCR: 2.31
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $86,688
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
226 S Fifth St	0.37mi	3/1.0	1,190 (-1%)	22mo	$46,250	$39	60
402 Pearl St	0.14mi	3/1.0	1,086 (-10%)	19mo	$78,000	$72	59

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

Projected returns pro-forma

-2.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 1.76×
• Total profit: $12,749
• Equity at exit: $9,385

10-year hold

• IRR: 26.7%
• Equity multiple: 3.39×
• Total profit: $40,086
• Equity at exit: $5,945

Cash invested: $16,800 (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 27806

• Home prices YoY: -1.5%
• Active inventory: 35
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,097 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$116 /mo · $1,387/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $345

Break-even live

Break-even rent $660

Max offer price $60,000

Occupancy floor 64%

Sensitivity live

Price	-10% $379	-5% $362	+0% $345	+5% $328	+10% $311
Rent	-10% $258	-5% $302	+0% $345	+5% $388	+10% $432
Rate	-1.0pp $375	-0.5pp $360	base $345	+0.5pp $330	+1.0pp $314

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2025-12-11
   status Pending
2. 2025-12-06
   status Pending
3. 2025-11-29
   price $60,000
4. 2025-11-29
   listed $60 Active
5. 2025-10-31
   historical
6. 2025-07-26
   historical
7. 2025-07-09
   listed $89,000 Active
8. 2024-11-20
   price $13,000
9. 2024-11-10
   listed $14,000 Active

ⓘ 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: $1,387 · $116/mo
• Projected year-2 tax: $1,387 · $116/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $13,165
• − Mortgage interest: −$3,361
• − Property taxes: −$1,387
• − Insurance: −$1,098
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$1,745
• Taxable income: $3,468
• Est. tax owed @ 24.0%: −$832
• After-tax cash flow: $3,308/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: Beaufort County Schools
• NCES district ID: 3700330
• Math proficiency: 39% ▬ 0.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $40,486
• Composite: 33.99/100
• National rank: #5320
• State rank: #112 of 178 in NC

Livability — Aurora

• Score: 61/100
• State rank: #481
• US rank: #17559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aurora, NC
• Population (ZIP): 2,199

Population outlook (Beaufort County) Hauer SSP2

• Today (2025): 47,069 people
• By 2030: 46,417 · -1.4%
• By 2040: 44,455 · -5.6%
• By 2050: 42,239 · -10.3%
• By 2075: 37,349 · -20.7%
• By 2100: 32,434 · -31.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 48% Black 43% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Portuguese 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Beaufort

• 2024 margin: Solid R (+31.1) · D 34.1% · R 65.2%
• 2008→2024 swing: -13.7pp toward R · 2008: -17.4pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+25.9 2016: R+24.5 2012: R+19.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.84%
• Current HPI: 185.7402
• 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

+328.6% since first listed

9 events — show timeline

• 2025-12-11 Pending — Hive MLS
• 2025-12-06 Pending — Hive MLS
• 2025-11-29 Price Changed $60,000 Hive MLS
• 2025-11-29 Listed $60 Hive MLS
• 2025-10-31 Listing Removed — Hive MLS
• 2025-07-26 Listing Removed — Hive MLS
• 2025-07-09 Listed $89,000 Hive MLS
• 2024-11-20 Price Changed $13,000 Hive MLS
• 2024-11-10 Listed $14,000 Hive MLS

Property tax history

+5.9%/yr

Latest (2025): $1,387 · +54.5% YoY. Source: county tax records.