424 Madison St · Roanoke Rapids, NC 27870

$47,900

3 bd · 2.5 ba · 1,537 sqft · SingleFamily public records · 65 Days on market

Built 1925 7,405 sqft lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.9/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment possibility! Since this 3 bedroom, 2 bath property was originally designed as a duplex, the internal infrastructure (like plumbing or secondary entrances) might still be accessible, which could significantly lower your renovation costs if you want to convert it back to a duplex! Property is being Sold AS-IS!

Key facts

• Secondary entrances
• 7,405 sq ft lot
• Built 1925

Tags

• SECONDARY ENTRANCES
• CONVERT IT BACK TO A DUPLEX

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; DSL/Cable available
• Home design: Residential property; Residential/Vacation subtype; Two levels; Entry facing information not provided
• Construction: Asbestos and vinyl siding exterior; Composition and metal roof; Built year not provided
• Exterior features: Front porch; Has a view; Paved road access

Interior

• Flooring: Wood flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Wood and vinyl flooring; No fireplace; Seven total rooms; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $45k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.1% vs local median 4.1% in Roanoke Rapids — 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 56/100 on livability (#631 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A, housing B+; Watch: crime F, amenities F, commute F.
• Roanoke Rapids City Schools (town): math 31% / reading 37% proficiency, ranked #135 of 178 in NC (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Belmont Elementary School (math 22% / reading 26%, grade F, #1,153 of 1,410 statewide, top 82%, 595 students, 100% FRL); Chaloner Middle School (math 31% / reading 40%, grade F, #279 of 475 statewide, top 60%, 616 students, 100% FRL); Roanoke Rapids High School (math 52% / reading 37%, grade F, #352 of 535 statewide, top 68%, 783 students, 100% FRL) — zoned schools average 100% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 143 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 55 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $331 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Halifax County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $45,026 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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: 2.61% ✓
• Cap rate: 22.11%
• Cash-on-cash: 56.49%
• DSCR: 3.51
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $192,125
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
347 Cedar St	0.39mi	3/2.5	1,512 (-2%)	5mo	$200,000	$132	75
417 Franklin St	0.24mi	3/1.0	1,500 (-2%)	9mo	$122,500	$82	71
521 Rapids St	0.48mi	3/2.0	1,500 (-2%)	6mo	$225,000	$150	66
508 Jefferson St	0.35mi	3/2.0	1,450 (-6%)	13mo	$212,500	$147	62
705 Bolling Rd	0.39mi	3/2.0	1,657 (+8%)	12mo	$207,000	$125	57
700 Monroe St	0.29mi	3/2.0	1,762 (+15%)	6mo	$155,000	$88	55
602 Cleveland St	0.62mi	3/2.0	1,402 (-9%)	2mo	$219,500	$157	53
936 Vance St	0.69mi	3/1.0	1,504 (-2%)	13mo	$40,000	$27	47
106 Washington St	0.53mi	2/2.0 (-1)	1,352 (-12%)	3mo	$90,000	$67	46
404 Washington St	0.29mi	2/1.0 (-1)	1,345 (-12%)	11mo	$115,000	$86	46
84 Vance St	0.64mi	4/2.0 (+1)	1,641 (+7%)	11mo	$210,000	$128	43
321 Shell Dr	0.73mi	2/1.5 (-1)	1,333 (-13%)	0mo	$160,000	$120	34

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: 54.9%
• Equity multiple: 3.42×
• Total profit: $32,482
• Equity at exit: $7,142

10-year hold

• IRR: 60.0%
• Equity multiple: 6.98×
• Total profit: $80,198
• Equity at exit: $4,142

Cash invested: $13,412 (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 27870

• Home prices YoY: -21.1%
• Active inventory: 143
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,248 medium
• Mortgage (P&I): −$251
• Tax from tax record: −$83 /mo · $1,001/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $631

Break-even live

Break-even rent $449

Max offer price $47,900

Occupancy floor 44%

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: $11,975
• Closing costs: $1,437
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
427 Cedar St Roanoke Rapids, NC	3.0	2.0	1942	$1,450	$0.75	43d	1	0.38mi
101 Washington St Roanoke Rapids, NC	2.0	1.0	1212	$900	$0.74	43d	1	0.56mi
1028 Cleveland St Roanoke Rapids, NC	3.0	1.5	1302	$1,450	$1.11	43d	1	0.91mi
1215 Carolina Ave Roanoke Rapids, NC	2.0	2.0	1465	$1,200	$0.82	43d	1	1.40mi

Listing history 17 events

1. 2026-06-19
   days on market $47,900 Active 65 DOM
2. 2026-06-18
   days on market $47,900 Active 64 DOM
3. 2026-06-17
   days on market $47,900 Active 63 DOM
4. 2026-06-16
   days on market $47,900 Active 62 DOM
5. 2026-06-15
   days on market $47,900 Active 61 DOM
6. 2026-06-14
   days on market $47,900 Active 59 DOM
7. 2026-06-12
   days on market $47,900 Active 58 DOM
8. 2026-06-09
   days on market $47,900 Active 55 DOM
9. 2026-06-08
   days on market $47,900 Active 54 DOM
10. 2026-06-07
    days on market $47,900 Active 53 DOM
11. 2026-06-07
    days on market $47,900 Active 52 DOM
12. 2026-06-03
    days on market $47,900 Active 49 DOM
13. 2026-06-02
    days on market $47,900 Active 48 DOM
14. 2026-06-01
    days on market $47,900 Active 47 DOM
15. 2026-05-31
    days on market $47,900 Active 46 DOM
16. 2026-05-30
    days on market $47,900 Active 45 DOM
17. 2026-04-16
    listed $47,900 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: $1,001 · $83/mo
• Projected year-2 tax: $1,001 · $83/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,976
• − Mortgage interest: −$2,683
• − Property taxes: −$1,001
• − Insurance: −$240
• − Repairs & maintenance: −$1,198
• − Management: −$1,198
• − Depreciation: −$1,393
• Taxable income: $7,263
• Est. tax owed @ 24.0%: −$1,743
• After-tax cash flow: $5,833/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: Roanoke Rapids City Schools
• NCES district ID: 3703900
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $41,604
• Composite: 28.7/100
• National rank: #6689
• State rank: #135 of 178 in NC

Livability — Roanoke Rapids

• Score: 56/100
• State rank: #631
• US rank: #22900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Roanoke Rapids, NC
• County: Halifax County · 24,958 people
• City population: 24,958
• Metro: Roanoke Rapids, NC
• Population (ZIP): 24,958
• Household income: $49,502
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 822.0

Population outlook (Halifax County) Hauer SSP2

• Today (2025): 47,976 people
• By 2030: 45,450 · -5.3%
• By 2040: 39,980 · -16.7%
• By 2050: 34,863 · -27.3%
• By 2075: 25,577 · -46.7%
• By 2100: 18,365 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 47% Black 40% Two or more races 7% Hispanic / Latino 5% Asian 1%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Halifax

• 2024 margin: D (+17.7) · D 58.5% · R 40.9%
• 2008→2024 swing: -10.6pp toward R · 2008: 28.2pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+21.2 2016: D+26.9 2012: D+32.0 2008: D+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.78%
• Current HPI: 179.1705
• Rent YoY: —
• Metro: Roanoke Rapids, 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

1 event — show timeline

• 2026-04-16 Listed $47,900 RVLG

Property tax history

+3.8%/yr

Latest (2025): $1,001 · +1.7% YoY. Source: county tax records.