559 Halls Creek Rd · New Bern, NC 28560

$119,900

3 bd · 2.0 ba · 1,620 sqft · Manufactured public records · 78 Days on market

Built 1999 0.92 ac lot Est $117k · at est.

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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 +26.1/30.0
• DSCR +8.8/10.0
• 1% rule +7.0/10.0
• ARV discount +6.2/15.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy the tranquility of country living in this 3-bedroom, 2-bath home situated on . 92 acres in the Pinedale Subdivision. Front entrance is handicap accessible. Enter into the bright and airy living area. Kitchen offers ample cabinets, countertops and pantry. Gather in the dining room for those family dinners with access to the backyard. Relax or entertain family and friends in your family room. Primary bathroom features double sinks, garden tub with separate shower. The laundry room is off from kitchen with door leading to side yard. Short drive to Historic downtown New Bern, waterfront, waterways, restaurants and shopping. Shed for extra storage.

Key facts

• Double sinks
• Ample cabinets
• Extra storage

Tags

• AMPLE CABINETS
• DOUBLE SINKS
• GARDEN TUB
• SEPARATE SHOWER
• EXTRA STORAGE

Property features AI

Finance

• Other: Lot is approximately 0.92 acres with irregular dimensions; Road frontage on city street and state road; Zoned residential; Subdivision: Pinedale
• HOA & community: No association amenities

Exterior

• Parking: Unpaved off-street parking
• Utilities: Public water; Septic tank; Water available
• Home design: Manufactured home; One story; Entry level: 1
• Construction: Vinyl siding; Frame construction; Shingle/composition roof; Crawl space/no basement
• Exterior features: Front porch; Shed(s); Has view; No fencing

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric heating; Central air conditioning
• Interior features: Ceiling fan(s); Accessible entrance; Accessible full bath
• Laundry & utility: Washer; Dryer; Laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#125 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime C-, amenities F, commute F.
• Pamlico County Schools (rural): math 38% / reading 43% proficiency, ranked #111 of 178 in NC (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pamlico County Primary (math 32% / reading 52%, grade F, #633 of 1,410 statewide, top 48%, 345 students, 99% FRL); Pamlico County Middle (math 41% / reading 40%, grade F, #215 of 475 statewide, top 46%, 271 students, 98% FRL); Pamlico County High (math 47% / reading 47%, grade D-, #334 of 535 statewide, top 64%, 464 students, 54% FRL) — zoned schools average 84% FRL vs 56% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 10 active listings in the ZIP; 107 units permitted in Pamlico County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pamlico County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $120k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.84%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $116,640
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
559 Halls Creek Rd	0.00mi	3/2.0	1,620 (0%)	1mo	$115,920	$72	99

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 · 1.6% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,078
• Equity at exit: $17,877

10-year hold

• IRR: 6.5%
• Equity multiple: 1.45×
• Total profit: $15,214
• Equity at exit: $10,367

Cash invested: $33,572 (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 28560

• Home prices YoY: -21.8%
• Rents YoY: 1.6%
• Active inventory: 10
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,433 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $303

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 74%

Sensitivity live

Price	-10% $386	-5% $345	+0% $303	+5% $262	+10% $220
Rent	-10% $190	-5% $247	+0% $303	+5% $360	+10% $417
Rate	-1.0pp $364	-0.5pp $334	base $303	+0.5pp $272	+1.0pp $241

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-14
   status Pending
2. 2026-05-07
   price $119,900
3. 2026-04-27
   price $139,500
4. 2026-03-27
   price $147,250
5. 2026-02-25
   listed $155,000 Active
6. 2002-06-07
   soldstatus $37,000

ⓘ 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 9/10 Extreme 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,194
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$3,488
• Taxable income: $1,841
• Est. tax owed @ 24.0%: −$442
• After-tax cash flow: $3,198/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: Pamlico County Schools
• NCES district ID: 3703510
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 43% ▲ 7.00%
• Median HH income: $42,650
• Composite: 34.19/100
• National rank: #5272
• State rank: #111 of 178 in NC

Livability — New Bern

• Score: 70/100
• State rank: #125
• US rank: #7414

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Craven County · 88,651 people
• City population: 28,661
• Metro: New Bern, NC
• Population (ZIP): 28,661
• Household income: $65,411
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 858.0

Population outlook (Pamlico County) Hauer SSP2

• Today (2025): 12,046 people
• By 2030: 11,446 · -5.0%
• By 2040: 9,947 · -17.4%
• By 2050: 8,639 · -28.3%
• By 2075: 6,578 · -45.4%
• By 2100: 4,814 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 20% Hispanic / Latino 6% Two or more races 5% Asian 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Philippines
• Languages at home: 91% English-only · Spanish 5% Other Asian/Pacific 2% Korean 1%

Political lean MEDSL · Pamlico

• 2024 margin: Solid R (+32.1) · D 33.6% · R 65.7%
• 2008→2024 swing: -17.4pp toward R · 2008: -14.7pp · 2024: -32.1pp
• All cycles: 2024: R+32.1 2020: R+28.0 2016: R+26.6 2012: R+20.9 2008: R+14.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.32%
• Current HPI: 267.3512
• Rent YoY: ▲ 1.60%
• Metro: New Bern, 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

+224.1% since first listed

6 events — show timeline

• 2026-05-14 Pending — Hive MLS
• 2026-05-07 Price Changed $119,900 Hive MLS
• 2026-04-27 Price Changed $139,500 Hive MLS
• 2026-03-27 Price Changed $147,250 Hive MLS
• 2026-02-25 Listed $155,000 Hive MLS
• 2002-06-07 Sold (Public Records) $37,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $202 · +0.0% YoY. Source: county tax records.