1002 Corbett Ave NE · Wilson, NC 27893

$125,000

2 bd · 1.0 ba · 1,108 sqft · SingleFamily public records · 10 Days on market

Built 1951 10,019 sqft lot Est $152k · 18% 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.0/10.0
• Rent growth +4.3/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ATTENTION INVESTORS!! Add this adorable 2BR/1BA home to your portfolio! Currently rented for $900/month (lease ends April 2027) and priced to move! Call today for details!

Key facts

• 0.23 acre lot
• Parking
• Built 1951

Property features AI

Finance

• Other: Residential zoning; Paved road frontage on city street and state road; Lot approximately 0.23 acres (60 x 166); Subdivision: Montclair

Exterior

• Parking: Carport (1 space); Off-street unpaved parking
• Security: Smoke detectors
• Utilities: Public water; Natural gas connected; Sewer connected; Water connected
• Home design: Single-family residence; One story; Entry at level 1
• Construction: Vinyl siding and wood frame construction
• Exterior features: Front porch; Shingle roof; Shed on the property; Has a view

Interior

• Kitchen: Electric range
• Bedrooms: Total rooms: 4
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Master suite on the main level; Window coverings; Crawl space basement
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/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 $125k (0.1% below list).
• Recommended offer: $125k (0.1% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 3.4% in Wilson — 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 64/100 on livability (#374 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime F, amenities F, commute F.
• Wilson County Schools (rural): math 38% / reading 40% proficiency, ranked #119 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Margaret Hearne Elementary (math 12% / reading 17%, grade F, #1,331 of 1,410 statewide, top 96%, 432 students, 99% FRL); Forest Hills Middle (math 32% / reading 38%, grade F, #286 of 475 statewide, top 61%, 670 students, 99% FRL); Fike High (math 37% / reading 51%, grade F, #367 of 535 statewide, top 69%, 1,046 students, 100% FRL) — zoned schools average 99% FRL vs 58% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.0%/yr); 261 active listings in the ZIP; lower-income renter base — watch delinquency; 580 units permitted in Wilson County in 2024 (168 in 5+ unit buildings).
• This rent runs 35% of the median local income ($43k/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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wilson County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $124,828 (0.1% below list)

Questions for the listing agent

1. Built in 1951 — 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: 1.00% ✗
• Cap rate: 8.04%
• Cash-on-cash: 6.23%
• DSCR: 1.28
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $151,796
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 Winstead St N	0.20mi	3/2.0 (+1)	1,065 (-4%)	1mo	$145,000	$136	75
508 Woodard St NE	0.41mi	2/1.0	1,020 (-8%)	2mo	$199,000	$195	66
506 Fleming St NE	0.27mi	3/1.0 (+1)	1,170 (+6%)	10mo	$165,000	$141	64
503 Anson St NE	0.34mi	3/1.0 (+1)	1,162 (+5%)	8mo	$140,000	$120	64
203 Acc Dr NE	0.30mi	3/2.0 (+1)	1,082 (-2%)	12mo	$75,500	$70	63
1402 Corbett Ave NE	0.38mi	3/2.0 (+1)	1,096 (-1%)	15mo	$149,900	$137	59
1304 Adams St N	0.46mi	2/1.0	979 (-12%)	2mo	$180,000	$184	58
511 Grove St NE	0.33mi	3/1.0 (+1)	974 (-12%)	18mo	$172,000	$177	45
1205 Gold St N	0.44mi	3/2.0 (+1)	1,253 (+13%)	7mo	$151,000	$121	43

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 · 7.01% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-3,456
• Equity at exit: $18,638

10-year hold

• IRR: 11.0%
• Equity multiple: 2.01×
• Total profit: $35,182
• Equity at exit: $10,808

Cash invested: $35,000 (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 27893

• Rents YoY: 7.0%
• Active inventory: 261
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,248 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$97 /mo · $1,161/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $182

Break-even live

Break-even rent $1,018

Max offer price $125,000

Occupancy floor 80%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-19
   days on market $125,000 Active 10 DOM
2. 2026-06-18
   days on market $125,000 Active 9 DOM
3. 2026-06-17
   days on market $125,000 Active 8 DOM
4. 2026-06-16
   days on market $125,000 Active 7 DOM
5. 2026-06-15
   days on market $125,000 Active 6 DOM
6. 2026-06-14
   days on market $125,000 Active 4 DOM
7. 2026-06-13
   days on market $125,000 Active 3 DOM
8. 2026-06-09
   remarks 171-char remark
9. 2026-06-09
   listed $125,000 Active 1 DOM

ⓘ 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: $1,161 · $97/mo
• Projected year-2 tax: $1,161 · $97/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 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,979
• − Mortgage interest: −$7,002
• − Property taxes: −$1,161
• − Insurance: −$625
• − Repairs & maintenance: −$1,198
• − Management: −$1,198
• − Depreciation: −$3,636
• Taxable income: $158
• Est. tax owed @ 24.0%: −$38
• After-tax cash flow: $2,143/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: Wilson County Schools
• NCES district ID: 3705020
• Math proficiency: 38% ▲ 2.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $39,342
• Composite: 32.64/100
• National rank: #5665
• State rank: #119 of 178 in NC

Livability — Wilson

• Score: 64/100
• State rank: #374
• US rank: #14674

Category grades

Amenities F Commute F 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: Wilson, NC
• County: Wilson County · 57,967 people
• City population: 57,967
• Metro: Wilson, NC
• Population (ZIP): 38,512
• Household income: $42,810
• Rent vs Own: 55.8% rent · 44.2% own
• Severe rent burden: 2175.0

Population outlook (Wilson County) Hauer SSP2

• Today (2025): 82,765 people
• By 2030: 82,492 · -0.3%
• By 2040: 81,054 · -2.1%
• By 2050: 78,610 · -5.0%
• By 2075: 71,865 · -13.2%
• By 2100: 62,792 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 55% White 27% Hispanic / Latino 16% Two or more races 5%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Serbian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Wilson

• 2024 margin: Toss-up / Even · D 49.8% · R 49.4%
• 2008→2024 swing: -5.7pp toward R · 2008: 6.1pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+2.9 2016: D+5.6 2012: D+7.3 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -149.54%
• Current HPI: 211.4136
• Rent YoY: ▲ 7.01%
• Metro: Wilson, 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

-87.8% since first listed

2 events — show timeline

• 2026-06-09 Listed $125,000 Hive MLS
• 2014-04-08 Sold (Public Records) $1,025,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,161 · +0.0% YoY. Source: county tax records.