73 Thelma Rd · South Rosemary, NC 27870

$152,999

2 bd · 1.0 ba · 1,208 sqft · SingleFamily public records · 201 Days on market

Built 1958 5.86 ac lot Est $209k · 27% under ↓ 17% 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).

• ARV discount +15.0/15.0
• Cash flow +12.3/30.0
• DSCR +3.6/10.0
• Livability +3.0/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy the serenity of nature without giving up modern conveniences in this inviting 3-bedroom home on nearly 6 acres. With a versatile bonus room, roomy utility space, and plenty of land to explore, this property offers the best of both worlds. "

Key facts

• Plenty of land
• Versatile bonus room
• Roomy utility space

Tags

• VERSATILE BONUS ROOM
• ROOMY UTILITY SPACE
• PLENTY OF LAND

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $153k.

Deal economics

• At list price, monthly cash flow is $-29 ($-350/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (25.0% below list).
• Recommended offer: $115k (25.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#546 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Halifax County Schools (rural): math 6% / reading 24% proficiency, ranked #177 of 178 in NC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Everetts Elementary S.T.E.M. Academy (math 2% / reading 17%, grade F, #1,385 of 1,410 statewide, top 99%, 245 students, 99% FRL); William R Davie Middle S.T.E.M. Academy (math 4% / reading 27%, grade F, #456 of 475 statewide, top 96%, 277 students, 99% FRL); Halifax County Early College High (math 75% / reading 70%, grade B+, #106 of 535 statewide, top 20%, 128 students, 98% FRL) — zoned schools average 98% FRL vs 82% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 15% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Halifax County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 147 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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 201 days — a 12% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $32k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,745 (25.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 201 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.75% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $208,984
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Mobley St	0.60mi	3/2.0 (+1)	1,347 (+12%)	6mo	$205,000	$152	38
104 Mina Dr	0.65mi	3/2.0 (+1)	1,379 (+14%)	7mo	$238,000	$173	31

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: -17.7%
• Equity multiple: 0.38×
• Total profit: $-26,707
• Equity at exit: $22,813

10-year hold

• IRR: -9.9%
• Equity multiple: 0.40×
• Total profit: $-25,881
• Equity at exit: $13,229

Cash invested: $42,840 (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: 11.1×

Monthly cashflow live

• Estimated rent: $1,147 medium
• Mortgage (P&I): −$802
• Tax from tax record: −$70 /mo · $835/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-29

Break-even live

Break-even rent $1,184

Max offer price $147,847

Occupancy floor 98%

Sensitivity live

Price	-10% $57	-5% $14	+0% $-29	+5% $-72	+10% $-116
Rent	-10% $-120	-5% $-74	+0% $-29	+5% $16	+10% $61
Rate	-1.0pp $48	-0.5pp $10	base $-29	+0.5pp $-69	+1.0pp $-109

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: $38,250
• Closing costs: $4,590
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-21
   status Pending
2. 2026-01-07
   status Active
3. 2026-01-07
   price $152,999
4. 2025-08-26
   listed $185,000 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: $835 · $70/mo
• Projected year-2 tax: $1,255 · $105/mo
• Expected delta: +$420/yr (+$35/mo · 50.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% 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: $13,769
• − Mortgage interest: −$8,570
• − Property taxes: −$835
• − Insurance: −$765
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$4,451
• Taxable loss: −$3,055
• Est. tax savings @ 24.0%: +$733
• After-tax cash flow: $383/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: Halifax County Schools
• NCES district ID: 3701950
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 24% ▼ -1.00%
• Median HH income: $29,104
• Composite: 11.7/100
• National rank: #9690
• State rank: #177 of 178 in NC

Livability — South Rosemary

• Score: 59/100
• State rank: #546
• US rank: #19997

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Halifax County · 24,958 people
• 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

-17.3% since first listed

4 events — show timeline

• 2026-04-21 Pending — RVLG
• 2026-01-07 Relisted — RVLG
• 2026-01-07 Price Changed $152,999 RVLG
• 2025-08-26 Listed $185,000 RVLG

Property tax history

+2.5%/yr

Latest (2025): $835 · +1.3% YoY. Source: county tax records.