108 Seabreeze Rd · Hertford, NC 27944

$190,000

3 bd · 1.0 ba · 1,443 sqft · Other public records · 449 Days on market

Built 1973 9,583 sqft lot $6/mo HOA

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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 +21.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.3/10.0
• Schools +3.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this beautifully renovated 3-bedroom, 1-bath beachside escape, just a block from the Albemarle Sound. This home has been fully updated from top to bottom, blending modern style with coastal charm. Freshly painted inside and out, it features all-new flooring, sleek light and plumbing fixtures, and a bright, open feel throughout. The kitchen is completely remodeled with new cabinets, elegant countertops, and brand-new appliances, ready for summer gatherings and cozy nights in. A new HVAC system ensures comfort no matter the season. Located just a block from the Holiday Island Park, this home offers the perfect setting for morning walks along the water and afternoons soaking in the

Key facts

• Fully updated
• Remodeled kitchen
• New hvac system

Tags

• FULLY UPDATED
• REMODELED KITCHEN
• NEW HVAC SYSTEM
• BLOCK FROM HOLIDAY ISLAND PARK

Property features AI

Finance

• Other: Lot size approximately 0.22 acres; Frontage: see remarks
• HOA & community: Holiday Island POA membership required; Annual HOA fee of $72 covering maintenance of grounds

Exterior

• Parking: Open parking for 2 vehicles on concrete; Total 2 parking spaces
• Utilities: Well water; Septic tank; Electricity available; Septic connected; Water connected
• Home design: Site-built property; Two levels; Updated / remodeled condition
• Construction: Frame and Masonite construction; Shingle roof; No common walls
• Exterior features: Front porch; Wooded vegetation; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Combination flooring; Luxury vinyl; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric, forced air); Central air (electric)
• Interior features: Eat-in kitchen; Open floorplan; Quartz counters; See remarks
• Laundry & utility: Washer hookup (main level, inside); Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $190k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/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 $177k (6.8% below list).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#570 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.
• Perquimans County Schools (rural): math 44% / reading 48% proficiency, ranked #83 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perquimans Central (391 students, 65% FRL); Perquimans County Middle (math 39% / reading 48%, grade D, #182 of 475 statewide, top 40%, 366 students, 59% FRL); Perquimans County High (math 47% / reading 42%, grade F, #352 of 535 statewide, top 68%, 518 students, 59% FRL).
• Market conditions: 339 active listings in the ZIP; 46 units permitted in Perquimans County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Perquimans County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 449 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $190k implies a 1552% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% 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 $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 449 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 0.93% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.16%
• DSCR: 1.27
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 3.19×
• Total profit: $116,604
• Equity at exit: $171,167

10-year hold

• IRR: 24.1%
• Equity multiple: 7.26×
• Total profit: $332,928
• Equity at exit: $369,128

Cash invested: $53,200 (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 27944

• Home prices YoY: 9.5%
• Active inventory: 339
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,771 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$45 /mo · $534/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$6
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $207

Break-even live

Break-even rent $1,510

Max offer price $190,000

Occupancy floor 83%

Sensitivity live

Price	-10% $314	-5% $261	+0% $207	+5% $153	+10% $99
Rent	-10% $67	-5% $137	+0% $207	+5% $277	+10% $347
Rate	-1.0pp $303	-0.5pp $255	base $207	+0.5pp $158	+1.0pp $108

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $6 · $72/yr
• Likely covers: water

Listing history 11 events

1. 2026-04-30
   status Pending
2. 2026-01-29
   status Active
3. 2025-12-30
   status Pending
4. 2025-09-08
   price $190,000
5. 2025-08-14
   price $209,000
6. 2025-07-14
   price $214,000
7. 2025-05-08
   price $219,000
8. 2025-03-13
   price $228,000
9. 2025-01-05
   listed $230,000 Active
10. 2013-03-14
    soldstatus $11,500
11. 2007-04-16
    soldstatus $65,000

ⓘ 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: $534 · $45/mo
• Projected year-2 tax: $1,558 · $130/mo
• Expected delta: +$1,024/yr (+$85/mo · 191.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $21,256
• − Mortgage interest: −$10,643
• − Property taxes: −$534
• − Insurance: −$1,748
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − HOA: −$72
• − Depreciation: −$5,527
• Taxable loss: −$669
• Est. tax savings @ 24.0%: +$161
• After-tax cash flow: $2,642/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: Perquimans County Schools
• NCES district ID: 3703600
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 48% ▲ 7.00%
• Median HH income: $42,593
• Composite: 38.75/100
• National rank: #4124
• State rank: #83 of 178 in NC

Livability — Hertford

• Score: 58/100
• State rank: #570
• US rank: #21148

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,255

Population outlook (Perquimans County) Hauer SSP2

• Today (2025): 13,018 people
• By 2030: 12,716 · -2.3%
• By 2040: 11,895 · -8.6%
• By 2050: 10,981 · -15.6%
• By 2075: 8,931 · -31.4%
• By 2100: 7,101 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 20% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada, China, Dominican Republic
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Perquimans

• 2024 margin: Solid R (+39.4) · D 29.7% · R 69.1% · Other 1.2%
• 2008→2024 swing: -25.4pp toward R · 2008: -13.9pp · 2024: -39.4pp
• All cycles: 2024: R+39.4 2020: R+32.2 2016: R+28.1 2012: R+16.1 2008: R+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.77%
• Current HPI: 261.91
• 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

+192.3% since first listed

11 events — show timeline

• 2026-04-30 Pending — TMLS
• 2026-01-29 Relisted — TMLS
• 2025-12-30 Pending — TMLS
• 2025-09-08 Price Changed $190,000 TMLS
• 2025-08-14 Price Changed $209,000 TMLS
• 2025-07-14 Price Changed $214,000 TMLS
• 2025-05-08 Price Changed $219,000 TMLS
• 2025-03-13 Price Changed $228,000 TMLS
• 2025-01-05 Listed $230,000 TMLS
• 2013-03-14 Sold (Public Records) $11,500 Public Records
• 2007-04-16 Sold (Public Records) $65,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $534 · +0.0% YoY. Source: county tax records.