1112 Freer Dr · Rocky Mount, NC 27804

$165,000

3 bd · 2.0 ba · 1,157 sqft · SingleFamily public records · 2 Days on market

Built 2004 Est $219k · 25% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

1112 Freer Drive3 b/ 2ba Home. Recently Painted. New Carpet . New wood floor. Quiet Location. Central heath and air. Stove and Refrigerator. Has back Deck. Washer/Dryer Connections. Master Bedroom has a walk in Closet. Two full baths.

Key facts

• Back deck
• Walk in closet
• Built 2004

Tags

• BACK DECK
• WALK IN CLOSET

Property features AI

Exterior

• Home design: Built in 2004
• Construction: Living area approximately 1,157
• Exterior features: Located in the Northgreen subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/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 $156k (5.5% below list).
• Recommended offer: $156k (5.5% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 4.5% in Rocky Mount — 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 70/100 on livability (#134 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Nash-Rocky Mount Schools (rural): math 20% / reading 32% proficiency, ranked #155 of 178 in NC (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-0.2%/yr); 392 active listings in the ZIP; 500 units permitted in Nash County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($61k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Nash County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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 $115k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% 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 $155,869 (5.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 8.05%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $218,673
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Ambergate Ct	0.19mi	3/2.0	1,227 (+6%)	9mo	$226,900	$185	74
105 Ambergate Ct	0.20mi	3/2.0	1,263 (+9%)	5mo	$233,999	$185	71
145 Ambergate Ct	0.23mi	3/2.0	1,271 (+10%)	6mo	$239,999	$189	68
132 Ambergate Ct	0.20mi	3/2.0	1,277 (+10%)	8mo	$243,999	$191	66
133 Ambergate Ct	0.24mi	3/2.0	1,263 (+9%)	13mo	$241,000	$191	63
133 Ambergate Ct	0.24mi	3/2.0	1,263 (+9%)	13mo	$241,000	$191	63
1012 N Hornbeam Dr	0.33mi	3/2.0	1,310 (+13%)	2mo	$215,000	$164	61
140 Ambergate Ct	0.20mi	2/2.0 (-1)	985 (-15%)	11mo	$213,999	$217	52
140 Ambergate Ct	0.20mi	2/2.0 (-1)	985 (-15%)	11mo	$213,999	$217	52
1349 Fairway Ter	0.62mi	2/2.0 (-1)	1,247 (+8%)	4mo	$218,000	$175	50
305 Whitehall Dr	0.69mi	3/2.0	1,235 (+7%)	13mo	$195,000	$158	46
108 Butternut Ct	0.74mi	2/1.5 (-1)	1,216 (+5%)	10mo	$118,500	$97	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-15,950
• Equity at exit: $24,602

10-year hold

• IRR: -4.5%
• Equity multiple: 0.74×
• Total profit: $-11,962
• Equity at exit: $14,266

Cash invested: $46,200 (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 27804

• Rents YoY: -0.2%
• Active inventory: 392
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,559 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$55 /mo · $662/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $242

Break-even live

Break-even rent $1,252

Max offer price $165,000

Occupancy floor 79%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-19
   days on market $165,000 Active 2 DOM
2. 2026-06-18
   remarks 234-char remark
3. 2026-06-18
   listed $165,000 Active 1 DOM

ⓘ 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: $662 · $55/mo
• Projected year-2 tax: $1,353 · $113/mo
• Expected delta: +$691/yr (+$58/mo · 104.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $18,704
• − Mortgage interest: −$9,243
• − Property taxes: −$662
• − Insurance: −$825
• − Repairs & maintenance: −$1,496
• − Management: −$1,496
• − Depreciation: −$4,800
• Taxable income: $182
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $2,862/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: Nash-Rocky Mount Schools
• NCES district ID: 3703270
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $41,553
• Composite: 22.04/100
• National rank: #8198
• State rank: #155 of 178 in NC

Livability — Rocky Mount

• Score: 70/100
• State rank: #134
• US rank: #7692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky Mount, NC
• County: Nash County · 50,768 people
• City population: 70,300
• Metro: Rocky Mount, NC
• Population (ZIP): 30,713
• Household income: $61,359
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 710.0

Population outlook (Nash County) Hauer SSP2

• Today (2025): 91,107 people
• By 2030: 89,193 · -2.1%
• By 2040: 84,959 · -6.7%
• By 2050: 80,517 · -11.6%
• By 2075: 72,941 · -19.9%
• By 2100: 63,602 · -30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 52% White 38% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Nash

• 2024 margin: Toss-up / Even · D 48.7% · R 50.5%
• 2008→2024 swing: -0.4pp no change · 2008: -1.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.2 2016: R+0.2 2012: D+0.9 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.83%
• Current HPI: 183.0082
• Rent YoY: ▼ -0.17%
• Metro: Rocky Mount, 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

+43.5% since first listed

5 events — show timeline

• 2026-06-18 Listed $165,000 FSBO.com
• 2013-09-11 Listing Removed — Hive MLS
• 2013-02-12 Listed $69,900 Hive MLS
• 2005-09-01 Sold (Public Records) $115,000 Public Records
• 2005-09-01 Sold (Public Records) $115,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $662 · -21.7% YoY. Source: county tax records.