1310 2nd St · Henderson, NC 27536

$40,000

2 bd · 1.0 ba · 1,062 sqft · SingleFamily public records · 6 Days on market

Built 1956 6,534 sqft lot ↓ 11% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great home for investor.

Key facts

• 6,534 sq ft lot
• 4 parking spots
• Built 1956

Property features AI

Finance

• Other: Located in Vance County
• HOA & community: No homeowners association

Exterior

• Parking: Four open parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story house
• Construction: Vinyl siding; Shingle and slate roof options; Slab foundation; Built area about 1,056 (living area)
• Exterior features: Publicly maintained road access; Lot of approximately 0.15 acres

Interior

• Bedrooms: Two bedrooms (both on the main level)
• Flooring: No flooring specified
• Bathrooms: One full bathroom
• Heating & cooling: Heating details listed in remarks; No central cooling
• Interior features: No specified interior finishes

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 23.5% vs local median 4.1% in Henderson — 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 58/100 on livability (#583 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.
• Vance County Schools (rural): math 20% / reading 27% proficiency, ranked #166 of 178 in NC (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Vance County Middle School (math 13% / reading 17%, grade F, #459 of 475 statewide, top 97%, 797 students, 100% FRL); Vance County High School (math 12% / reading 27%, grade F, #499 of 535 statewide, top 94%, 958 students, 100% FRL) — zoned schools average 100% FRL vs 81% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 113 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 73 units permitted in Vance County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($40k/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 $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Vance County population projected at -23% 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y 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 3.7% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1956 — 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. 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.
7. 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.
8. 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: 2.93% ✓
• Cap rate: 23.48%
• Cash-on-cash: 61.40%
• DSCR: 3.73
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $168,858
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1125 Beacon Ave	0.13mi	2/1.0	1,064 (+0%)	3mo	$79,000	$74	91
819 Arrow St	0.19mi	3/1.0 (+1)	1,040 (-2%)	0mo	$70,000	$67	82
818 Wakefield Ave	0.39mi	3/1.0 (+1)	1,099 (+4%)	6mo	$208,000	$189	66
1220 Roanoke Ave	0.54mi	3/1.0 (+1)	1,080 (+2%)	3mo	$214,000	$198	65
431 Waddill St	0.39mi	2/1.0	1,127 (+6%)	10mo	$157,500	$140	63
924 Buckhorn St	0.58mi	3/1.0 (+1)	1,066 (+0%)	7mo	$170,000	$159	61
906 Abbott St	0.59mi	3/1.0 (+1)	1,090 (+3%)	3mo	$165,500	$152	60
320 Zollicoffer Ave	0.16mi	3/1.0 (+1)	942 (-11%)	11mo	$145,000	$154	59
1204 Roanoke Ave	0.54mi	2/1.0	1,159 (+9%)	3mo	$174,000	$150	58
860 Nelson St	0.67mi	3/1.0 (+1)	1,024 (-4%)	1mo	$165,000	$161	57
1542 Oakdale Cir	0.58mi	2/1.0	1,171 (+10%)	6mo	$230,000	$196	50
1421 Deer Crossing Ct	0.50mi	3/1.0 (+1)	960 (-10%)	13mo	$178,500	$186	45

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: 60.3%
• Equity multiple: 3.69×
• Total profit: $30,079
• Equity at exit: $5,964

10-year hold

• IRR: 65.0%
• Equity multiple: 7.56×
• Total profit: $73,447
• Equity at exit: $3,458

Cash invested: $11,200 (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 27536

• Active inventory: 113
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,170 high
• Mortgage (P&I): −$210
• Tax from tax record: −$125 /mo · $1,499/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $573

Break-even live

Break-even rent $445

Max offer price $40,000

Occupancy floor 46%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1216 2nd St Henderson, NC	2.0	1.0	796	$995	$1.25	23d	1	0.04mi
1637 Berry Ave Henderson, NC	3.0	2.5	1396	$1,850	$1.33	12d	1	0.11mi
210 Corbitt Rd Unit 224 Henderson, NC	2.0	1.5	1148	$1,175	$1.02	23d	1	0.30mi
543 Horner St Henderson, NC	2.0	1.0	700	$695	$0.99	20d	1	0.46mi
1027 Maple St Unit 1029 Henderson, NC	2.0	1.0	800	$775	$0.97	21d	1	1.03mi
913 Lehman St Henderson, NC	3.0	1.0	966	$795	$0.82	23d	1	1.05mi
434 Owen St Henderson, NC	3.0	1.5	1154	$795	$0.69	16d	1	1.21mi
200 Ridge Rd Henderson, NC	1.0–3.0	1.0–2.0	1049	$1,265	$1.21	1d	1	1.28mi
433 Norvell St Henderson, NC	2.0	1.5	1216	$1,075	$0.88	23d	1	1.28mi
926 Gay St Henderson, NC	2.0	1.0	847	$825	$0.97	23d	1	1.36mi
105 Holly Ct Henderson, NC	2.0	1.0	800	$795	$0.99	20d	1	1.40mi
726 E Andrews Ave Henderson, NC	3.0	2.0	1068	$795	$0.74	23d	1	1.47mi

Listing history 8 events

1. 2026-05-21
   listed $40,000 Active
2. 2008-02-21
   historical
3. 2007-08-20
   listed $43,000
4. 2006-02-03
   soldstatus $38,000 24-char remark

   Show marketing remark (24 chars)

   Great home for investor.

5. 2006-02-03
   soldstatus $38,000 24-char remark

   Show marketing remark (24 chars)

   Great home for investor.

6. 2006-01-12
   historical 24-char remark

   Show marketing remark (24 chars)

   Great home for investor.

7. 2005-05-13
   listed $44,900 24-char remark

   Show marketing remark (24 chars)

   Great home for investor.

8. 2005-05-13
   listed $44,900 24-char remark

   Show marketing remark (24 chars)

   Great home for investor.

ⓘ 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: $1,499 · $125/mo
• Projected year-2 tax: $1,499 · $125/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $14,041
• − Mortgage interest: −$2,241
• − Property taxes: −$1,499
• − Insurance: −$200
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$1,164
• Taxable income: $6,691
• Est. tax owed @ 24.0%: −$1,606
• After-tax cash flow: $5,271/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: Vance County Schools
• NCES district ID: 3704650
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 27% ▼ -5.00%
• Median HH income: $34,323
• Composite: 19.29/100
• National rank: #8801
• State rank: #166 of 178 in NC

Livability — Henderson

• Score: 58/100
• State rank: #583
• US rank: #21468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Henderson, NC
• County: Vance County · 15,298 people
• City population: 15,298
• Metro: Henderson, NC
• Population (ZIP): 15,298
• Household income: $39,985
• Rent vs Own: 62.3% rent · 37.7% own
• Severe rent burden: 1110.0

Population outlook (Vance County) Hauer SSP2

• Today (2025): 41,985 people
• By 2030: 40,286 · -4.0%
• By 2040: 36,372 · -13.4%
• By 2050: 32,466 · -22.7%
• By 2075: 24,229 · -42.3%
• By 2100: 17,784 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 60% White 26% Hispanic / Latino 12% Two or more races 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Serbian 1% Italian 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Arabic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Vance

• 2024 margin: D (+13.3) · D 56.3% · R 42.9%
• 2008→2024 swing: -13.3pp toward R · 2008: 26.6pp · 2024: 13.3pp
• All cycles: 2024: D+13.3 2020: D+19.2 2016: D+24.6 2012: D+28.3 2008: D+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.23%
• Current HPI: 198.8762
• Rent YoY: —
• Metro: Henderson, 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

-10.9% since first listed

8 events — show timeline

• 2026-05-21 Listed $40,000 TMLS
• 2008-02-21 Listing Removed — TMLS
• 2007-08-20 Listed $43,000 TMLS
• 2006-02-03 Sold (MLS) $38,000 AMLSNC
• 2006-02-03 Sold (MLS) $38,000 TMLS
• 2006-01-12 Listing Removed — TMLS
• 2005-05-13 Listed $44,900 AMLSNC
• 2005-05-13 Listed $44,900 TMLS

Property tax history

+6.6%/yr

Latest (2025): $1,499 · +1.4% YoY. Source: county tax records.