1506 4th Ave · Roanoke Rapids, NC 27870

$120,000

3 bd · 1.0 ba · 1,542 sqft · SingleFamily public records · 86 Days on market

Built 1965 0.49 ac lot Est $236k · 49% under

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Why this score? — see what drove the D+ 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +4.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice 3 bedroom 1 bath ranch centrally located close to shopping and medical; this ranch offers a lot of living space. Large living room with built in cabinets and generous size windows which offers lots of natural light. Eat-in kitchen has pine cabinets and plenty of counter space. Bonus room has a built in bar and is perfect for a tv room and/or entertaining. Hardwood floors through out the home and tile bathroom. Large yard with an attached carport and a small storage shed. Purchase and customize it with your own special touches, make this house your home. Convenient to I-95. The possibilities are endless. Sold as-is. Call to schedule a showing today!

Key facts

• Large corner lot
• Built-in cabinets
• Eat-in kitchen

Tags

• LARGE CORNER LOT
• BUILT-IN CABINETS
• EAT-IN KITCHEN
• PLENTY OF COUNTER SPACE
• HARDWOOD FLOORS
• TILE BATH

Property features AI

Exterior

• Parking: Attached carport
• Utilities: Public water; Public sewer
• Home design: Residential property (vacation subtype); One story
• Construction: Vinyl siding
• Exterior features: Front porch; Paved road access; Has a view

Interior

• Flooring: Carpet; Wood; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Heating present
• Interior features: Carpet, wood, tile, and vinyl flooring; No built-in appliances listed; No fireplace; 5 total rooms; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $69 ($833/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 $113k (6.0% below list).
• Recommended offer: $113k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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.
• Weldon City Schools (town): math 10% / reading 17% proficiency, ranked #178 of 178 in NC (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Weldon Elementary Global Academy (math 8% / reading 17%, grade F, #1,362 of 1,410 statewide, top 97%, 244 students, 99% FRL); Weldon Middle (math 8% / reading 17%, grade F, #469 of 475 statewide, top 99%, 176 students, 98% FRL); Weldon Stem High School Career Academies (math 5% / reading 10%, grade F, #531 of 535 statewide, top 99%, 120 students, 98% FRL).
• Market conditions: 147 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 55 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago 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.
• Current owner paid $50k; list at $120k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% 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 $112,751 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 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 1965 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.94% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.48%
• DSCR: 1.11
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $235,926
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
133 Devonshire Cir	0.73mi	3/2.0	1,636 (+6%)	1mo	$250,000	$153	51

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: -12.4%
• Equity multiple: 0.55×
• Total profit: $-15,012
• Equity at exit: $17,892

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-7,330
• Equity at exit: $10,375

Cash invested: $33,600 (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: 147
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$142 /mo · $1,704/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $69

Break-even live

Break-even rent $1,040

Max offer price $120,000

Occupancy floor 89%

Sensitivity live

Price	-10% $137	-5% $103	+0% $69	+5% $35	+10% $1
Rent	-10% $-20	-5% $25	+0% $69	+5% $114	+10% $158
Rate	-1.0pp $130	-0.5pp $100	base $69	+0.5pp $38	+1.0pp $7

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 E Littleton Rd Unit B Roanoke Rapids, NC	2.0	1.5	1300	$900	$0.69	45d	1	1.07mi
1215 Carolina Ave Roanoke Rapids, NC	2.0	2.0	1465	$1,200	$0.82	45d	1	1.28mi

Listing history 20 events

1. 2026-06-22
   days on market $120,000 Active 86 DOM
2. 2026-06-21
   days on market $120,000 Active 85 DOM
3. 2026-06-19
   days on market $120,000 Active 83 DOM
4. 2026-06-18
   days on market $120,000 Active 82 DOM
5. 2026-06-17
   days on market $120,000 Active 81 DOM
6. 2026-06-16
   days on market $120,000 Active 80 DOM
7. 2026-06-15
   days on market $120,000 Active 79 DOM
8. 2026-06-14
   days on market $120,000 Active 77 DOM
9. 2026-06-12
   days on market $120,000 Active 76 DOM
10. 2026-06-09
    days on market $120,000 Active 73 DOM
11. 2026-06-08
    days on market $120,000 Active 72 DOM
12. 2026-06-07
    days on market $120,000 Active 71 DOM
13. 2026-06-05
    days on market $120,000 Active 69 DOM
14. 2026-06-02
    days on market $120,000 Active 66 DOM
15. 2026-06-01
    days on market $120,000 Active 65 DOM
16. 2026-05-31
    days on market $120,000 Active 64 DOM
17. 2026-05-30
    days on market $120,000 Active 63 DOM
18. 2026-03-29
    listed $120,000 Active
19. 2019-07-10
    soldstatus $50,000 666-char remark

    Show marketing remark (666 chars)

    Very nice 3 bedroom 1 bath ranch centrally located close to shopping and medical; this ranch offers a lot of living space. Large living room with built in cabinets and generous size windows which offers lots of natural light. Eat-in kitchen has pine cabinets and plenty of counter space. Bonus room has a built in bar and is perfect for a tv room and/or entertaining. Hardwood floors through out the home and tile bathroom. Large yard with an attached carport and a small storage shed. Purchase and customize it with your own special touches, make this house your home. Convenient to I-95. The possibilities are endless. Sold as-is. Call to schedule a showing today!

20. 2019-05-03
    listed $49,900 666-char remark

    Show marketing remark (666 chars)

    Very nice 3 bedroom 1 bath ranch centrally located close to shopping and medical; this ranch offers a lot of living space. Large living room with built in cabinets and generous size windows which offers lots of natural light. Eat-in kitchen has pine cabinets and plenty of counter space. Bonus room has a built in bar and is perfect for a tv room and/or entertaining. Hardwood floors through out the home and tile bathroom. Large yard with an attached carport and a small storage shed. Purchase and customize it with your own special touches, make this house your home. Convenient to I-95. The possibilities are endless. Sold as-is. Call to schedule a showing today!

ⓘ 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: $1,704 · $142/mo
• Projected year-2 tax: $1,704 · $142/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $13,530
• − Mortgage interest: −$6,722
• − Property taxes: −$1,704
• − Insurance: −$600
• − Repairs & maintenance: −$1,082
• − Management: −$1,082
• − Depreciation: −$3,491
• Taxable loss: −$1,152
• Est. tax savings @ 24.0%: +$276
• After-tax cash flow: $1,109/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: Weldon City Schools
• NCES district ID: 3704890
• Math proficiency: 10% ▼ -4.00%
• Reading proficiency: 17% ▼ -7.00%
• Median HH income: $29,708
• Composite: 10.56/100
• National rank: #9779
• State rank: #178 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

+140.5% since first listed

3 events — show timeline

• 2026-03-29 Listed $120,000 RVLG
• 2019-07-10 Sold (MLS) $50,000 RVLG
• 2019-05-03 Listed $49,900 RVLG

Property tax history

+1.2%/yr

Latest (2025): $1,704 · +0.7% YoY. Source: county tax records.