321 Pine St · Kinston, NC 28501

$25,000

4 bd · 2.0 ba · 1,856 sqft · SingleFamily public records · 19 Days on market

Built 1950 0.42 ac lot ↓ 29% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property comes AS IS. 4 bedrooms, and 2 baths. Located just off of NC Highway 11 South. The home has a spacious kitchen, good amount of storage space, and a nice sized family room. Carpet floors, lots of natural light, and a nice patio for sitting with the family enjoying the warm weather.

Key facts

• Detached carport
• Ample parking
• Large lot

Tags

• LARGE LOT
• AMPLE PARKING
• DETACHED CARPORT

Property features AI

Exterior

• Parking: 3 covered parking spaces; 3-car garage; 2-car carport; Concrete parking surfaces
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single-family residence; Two levels; Entry at level 1; Residential zoning
• Construction: Vinyl siding with frame construction; Shingle roof; Block foundation; Built as a residence (year built not provided)
• Exterior features: Covered front and side porches; No other exterior features listed; Has view

Interior

• Kitchen: Built-in electric oven
• Bedrooms: 8 total rooms (bedroom count not specified)
• Flooring: Tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: No central heating; No central cooling
• Interior features: Unfurnished; Built-in electric oven; Electric water heater
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.
• Cap rate 56.3% vs local median 3.8% in Kinston — 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 55/100 on livability (#640 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.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southeast Elementary (math 8% / reading 17%, grade F, #1,362 of 1,410 statewide, top 97%, 190 students, 97% FRL); Rochelle Middle (math 9% / reading 20%, grade F, #462 of 475 statewide, top 98%, 466 students, 98% FRL); Kinston High (math 22% / reading 37%, grade F, #459 of 535 statewide, top 87%, 713 students, 100% FRL) — zoned schools average 98% FRL vs 65% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 95 active listings in the ZIP; 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Lenoir County population projected at -18% 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($25k) 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.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,625 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 6.50% ✓
• Cap rate: 56.26%
• Cash-on-cash: 178.45%
• DSCR: 8.94
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $181,888
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2021 Eastridge Cir	0.35mi	3/2.0 (-1)	1,649 (-11%)	11mo	$192,600	$117	51
904 Liberty Hill Rd	0.50mi	3/1.0 (-1)	1,724 (-7%)	12mo	$80,000	$46	45
714 Girl Scout Rd	0.71mi	4/2.0	1,751 (-6%)	15mo	$172,000	$98	45
702 Girl Scout Rd	0.65mi	3/2.5 (-1)	1,700 (-8%)	10mo	$125,000	$74	40

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: —
• Equity multiple: 9.90×
• Total profit: $62,316
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 20.99×
• Total profit: $139,907
• Equity at exit: $2,162

Cash invested: $7,000 (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 28501

• Home prices YoY: -18.9%
• Active inventory: 95
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,624 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$101 /mo · $1,207/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $1,041

Break-even live

Break-even rent $306

Max offer price $25,000

Occupancy floor 31%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-04
   statusdays on market $25,000 Pending 19 DOM
2. 2026-06-02
   days on market $25,000 Active 18 DOM
3. 2026-06-01
   remarks 375-char remark
4. 2026-06-01
   days on market $25,000 Active 17 DOM
5. 2026-05-31
   days on market $25,000 Active 16 DOM
6. 2026-05-31
   days on market $25,000 Active 15 DOM
7. 2026-05-21
   status Pending
8. 2026-05-08
   listed $25,000 Active
9. 2025-12-08
   soldstatus $37,011
10. 2020-07-30
    soldstatus $33,000 295-char remark

    Show marketing remark (295 chars)

    This property comes AS IS. 4 bedrooms, and 2 baths. Located just off of NC Highway 11 South. The home has a spacious kitchen, good amount of storage space, and a nice sized family room. Carpet floors, lots of natural light, and a nice patio for sitting with the family enjoying the warm weather.

11. 2020-07-30
    soldstatus $33,000

    Show marketing remark (295 chars)

    This property comes AS IS. 4 bedrooms, and 2 baths. Located just off of NC Highway 11 South. The home has a spacious kitchen, good amount of storage space, and a nice sized family room. Carpet floors, lots of natural light, and a nice patio for sitting with the family enjoying the warm weather.

12. 2019-06-12
    listed $35,000 295-char remark

    Show marketing remark (295 chars)

    This property comes AS IS. 4 bedrooms, and 2 baths. Located just off of NC Highway 11 South. The home has a spacious kitchen, good amount of storage space, and a nice sized family room. Carpet floors, lots of natural light, and a nice patio for sitting with the family enjoying the warm weather.

ⓘ 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: $1,207 · $101/mo
• Projected year-2 tax: $1,207 · $101/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $19,490
• − Mortgage interest: −$1,400
• − Property taxes: −$1,207
• − Insurance: −$125
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$727
• Taxable income: $12,912
• Est. tax owed @ 24.0%: −$3,099
• After-tax cash flow: $9,393/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — Kinston

• Score: 55/100
• State rank: #640
• US rank: #23267

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: Kinston, NC
• City population: 20,407
• Population (ZIP): 18,112

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.17%
• Current HPI: 193.3213
• 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

-28.6% since first listed

6 events — show timeline

• 2026-05-21 Pending — Hive MLS
• 2026-05-08 Listed $25,000 Hive MLS
• 2025-12-08 Sold (Public Records) $37,011 Public Records
• 2020-07-30 Sold (Public Records) $33,000 Public Records
• 2020-07-30 Sold (MLS) $33,000 Hive MLS
• 2019-06-12 Listed $35,000 Hive MLS

Property tax history

+10.9%/yr

Latest (2025): $1,207 · +247.7% YoY. Source: county tax records.