1039 Pine Ridge Rd · Edenton, NC 27957

$130,000

3 bd · 2.0 ba · 2,200 sqft · Other · 102 Days on market

Built 1961 0.89 ac lot ↓ 23% since listing

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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 +17.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

Partial owner financing awaits and the furnishings convey! If you crave wooded, quiet, peaceful surroundings, this quaint, rustic 3-bedroom, 2 bath home is for you. This home originated as a manufactured home, but it has been exquisitely and meticulously transformed into a spacious ranch style home of 2200 square feet. The . 89-acre lot offers plenty of yard space and privacy. Although close enough to a main road to allow for easy access, the property is not located on a main road, allowing for carefree biking and hiking. This property could be used as a primary home, a rental, a quaint hunting lodge, or a retreat for a weekend getaway. There is no HOA! The property is in flood zone X allo

Key facts

• Wooded lot
• Ranch style home
• No hoa

Tags

• WOODED LOT
• RANCH STYLE HOME
• YARD SPACE
• NO HOA

Property features AI

Finance

• Other: Lot accessed from city street and state road; Lot dimensions approximately 124 x 287 (0.89 acres); Zoned residential
• HOA & community: No association amenities

Exterior

• Parking: Has a 1-space carport; Unpaved parking
• Utilities: Public water available; Water available; Septic tank
• Home design: Manufactured home (residential); One story; Entry level: 1; Has a view; Horses allowed on the property
• Construction: Vinyl siding; Composition roof; See remarks for additional construction details; Built on crawl space
• Exterior features: Front porch; No additional exterior features listed; No pool

Interior

• Kitchen: Appliances include electric water heater
• Bedrooms: Master bedroom on the main level
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Heat pump; Propane heating; Electric heating; Forced air
• Interior features: Master bedroom on the main level; Built-in bookcases; Partially furnished; Electric water heater
• Laundry & utility: Washer hookup; Crawl space (no basement)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $130k.

Deal economics

• At list price, monthly cash flow is $93 ($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 $125k (3.5% below list).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 1.7% in Edenton — 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 62/100 on livability (#471 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, amenities F.
• Bertie County Schools (rural): math 17% / reading 31% proficiency, ranked #165 of 178 in NC (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Colerain Elementary (math 17% / reading 27%, grade F, #1,190 of 1,410 statewide, top 86%, 169 students, 98% FRL); Bertie Middle (math 13% / reading 31%, grade F, #416 of 475 statewide, top 89%, 425 students, 99% FRL); Bertie High (math 27% / reading 22%, grade F, #474 of 535 statewide, top 90%, 442 students, 99% FRL) — zoned schools average 99% FRL vs 80% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 40 active listings in the ZIP; 46 units permitted in Bertie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($899 loan paydown + $4k appreciation (3.0% local appreciation)).
• Bertie County population projected at -30% 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $118,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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 D 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: 0.97% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.59×
• Total profit: $21,544
• Equity at exit: $58,394

10-year hold

• IRR: 12.7%
• Equity multiple: 2.88×
• Total profit: $68,512
• Equity at exit: $89,945

Cash invested: $36,400 (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 27957

• Home prices YoY: 2.4%
• Active inventory: 40
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,255 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $93

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 88%

Sensitivity live

Price	-10% $183	-5% $138	+0% $93	+5% $48	+10% $3
Rent	-10% $-6	-5% $43	+0% $93	+5% $143	+10% $192
Rate	-1.0pp $158	-0.5pp $126	base $93	+0.5pp $59	+1.0pp $25

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $130,000 Active 102 DOM
2. 2026-06-21
   days on market $130,000 Active 101 DOM
3. 2026-06-18
   days on market $130,000 Active 99 DOM
4. 2026-06-17
   days on market $130,000 Active 98 DOM
5. 2026-06-16
   days on market $130,000 Active 97 DOM
6. 2026-06-15
   days on market $130,000 Active 96 DOM
7. 2026-06-13
   days on market $130,000 Active 94 DOM
8. 2026-06-12
   days on market $130,000 Active 93 DOM
9. 2026-06-09
   days on market $130,000 Active 90 DOM
10. 2026-06-08
    days on market $130,000 Active 89 DOM
11. 2026-06-07
    days on market $130,000 Active 88 DOM
12. 2026-06-07
    days on market $130,000 Active 87 DOM
13. 2026-06-04
    days on market $130,000 Active 84 DOM
14. 2026-06-02
    days on market $130,000 Active 83 DOM
15. 2026-06-01
    days on market $130,000 Active 82 DOM
16. 2026-05-31
    days on market $130,000 Active 81 DOM
17. 2026-03-10
    listed $130,000 Active
18. 2025-06-30
    historical
19. 2025-03-25
    listed $169,000 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $15,059
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$3,782
• Taxable loss: −$1,015
• Est. tax savings @ 24.0%: +$243
• After-tax cash flow: $1,359/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: Bertie County Schools
• NCES district ID: 3700360
• Math proficiency: 17% ▼ -7.00%
• Reading proficiency: 31% ▼ -2.00%
• Median HH income: $30,361
• Composite: 19.3/100
• National rank: #8797
• State rank: #165 of 178 in NC

Livability — Edenton

• Score: 62/100
• State rank: #471
• US rank: #17166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,017

Population outlook (Bertie County) Hauer SSP2

• Today (2025): 18,388 people
• By 2030: 17,285 · -6.0%
• By 2040: 14,982 · -18.5%
• By 2050: 12,963 · -29.5%
• By 2075: 10,051 · -45.3%
• By 2100: 8,320 · -54.8%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: White 50% Black 49% Two or more races 1%
• Common ancestry: Iranian 1% Slovak 1% Serbian 1%
• Languages at home: 98% English-only · German/W. Germanic 2%

Political lean MEDSL · Bertie

• 2024 margin: D (+15.7) · D 57.6% · R 41.9%
• 2008→2024 swing: -14.9pp toward R · 2008: 30.6pp · 2024: 15.7pp
• All cycles: 2024: D+15.7 2020: D+21.6 2016: D+25.2 2012: D+31.9 2008: D+30.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.99%
• Current HPI: 127.4842
• 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

-23.1% since first listed

3 events — show timeline

• 2026-03-10 Listed $130,000 Hive MLS
• 2025-06-30 Listing Removed — Hive MLS
• 2025-03-25 Listed $169,000 Hive MLS