1011 W New York Ave · Southern Pines, NC 28387

$149,500

4 bd · 2.0 ba · 1,500 sqft · SingleFamily public records · 56 Days on market

Built 1912 10,019 sqft lot

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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
• Schools +4.4/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Unlock the potential of this unique opportunity in Southern Pines! This property will include the sale of two parcels totaling approximately 0.355 acres - a . 225-acre lot with an existing home and an adjacent . 13-acre lot, offering added space, privacy, or future possibilities. Whether you're an investor, builder, or buyer with vision, this property presents endless potential for renovation, expansion, or redevelopment. Bring your ideas and explore the possibilities! Property being sold as-is.

Key facts

• Added space
• Existing home
• Renovation

Tags

• EXISTING HOME
• ADDED SPACE
• FUTURE POSSIBILITIES
• RENOVATION
• EXPANSION
• REDEVELOPMENT

Property features AI

Finance

• HOA & community: No association; Not a senior community

Exterior

• Utilities: Public water; Public sewer
• Home design: House; Two levels
• Construction: Wood siding construction; Built structure: House
• Exterior features: Metal roof; Lot of about 0.23 acres; Publicly maintained road access

Interior

• Bedrooms: 3 bedrooms
• Flooring: Carpet; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating present (type: other); Window unit cooling
• Interior features: Carpet and hardwood flooring

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 2.1% in Southern Pines — 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 65/100 on livability (#327 in NC) — a middle-class / working-renter tenant base. Strengths: housing A; Watch: health & safety C-, crime D+, amenities F.
• Moore County Schools (rural): math 48% / reading 54% proficiency, ranked #58 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Pine Elementary (math 51% / reading 58%, grade C, #302 of 1,410 statewide, top 23%, 395 students, 44% FRL); West Pine Middle (math 62% / reading 62%, grade B+, #37 of 475 statewide, top 8%, 688 students, 28% FRL); Pinecrest High (math 66% / reading 72%, grade B, #131 of 535 statewide, top 25%, 2,221 students, 34% FRL).
• Market conditions: Rents soft (-0.8%/yr); 210 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 941 units permitted in Moore County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($75k/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 $4k of value loss. Plan a longer hold.
• Moore County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $145,015 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
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: 1.72% ✓
• Cap rate: 15.33%
• Cash-on-cash: 32.28%
• DSCR: 2.44
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $330,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
460 S Glover St	0.34mi	3/2.5 (-1)	1,472 (-2%)	5mo	$329,000	$224	70
931 W Connecticut Ave	0.29mi	4/3.5	1,572 (+5%)	7mo	$308,000	$196	67
475 W Maine Ave	0.69mi	4/2.5	1,536 (+2%)	3mo	$495,000	$322	59
415 W Vermont Ave	0.65mi	3/2.5 (-1)	1,479 (-1%)	5mo	$480,000	$325	56
420 S Glover St	0.32mi	3/2.5 (-1)	1,596 (+6%)	15mo	$334,750	$210	55
645 W Iowa Ave	0.59mi	3/2.5 (-1)	1,520 (+1%)	11mo	$335,000	$220	54
555 S Gaines St	0.34mi	3/2.0 (-1)	1,668 (+11%)	9mo	$355,000	$213	53
945 W Lowe Ave	0.64mi	3/2.5 (-1)	1,574 (+5%)	2mo	$355,000	$226	53
455 S Gaines St	0.25mi	3/2.5 (-1)	1,699 (+13%)	7mo	$355,000	$209	53
665 W Iowa Ave	0.56mi	3/2.5 (-1)	1,456 (-3%)	14mo	$320,320	$220	51
655 W Iowa Ave	0.59mi	3/2.5 (-1)	1,575 (+5%)	14mo	$346,500	$220	46
430 W Rhode Island Ave	0.74mi	3/3.0 (-1)	1,400 (-7%)	11mo	$345,000	$246	36

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: 24.1%
• Equity multiple: 1.95×
• Total profit: $39,940
• Equity at exit: $22,291

10-year hold

• IRR: 30.1%
• Equity multiple: 3.34×
• Total profit: $97,914
• Equity at exit: $12,926

Cash invested: $41,860 (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 28387

• Rents YoY: -0.8%
• Active inventory: 210
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,565 medium
• Mortgage (P&I): −$784
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $1,126

Break-even live

Break-even rent $1,139

Max offer price $149,500

Occupancy floor 51%

Sensitivity live

Price	-10% $1,211	-5% $1,168	+0% $1,126	+5% $1,084	+10% $1,042
Rent	-10% $924	-5% $1,025	+0% $1,126	+5% $1,227	+10% $1,329
Rate	-1.0pp $1,201	-0.5pp $1,164	base $1,126	+0.5pp $1,087	+1.0pp $1,048

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Pavilion Way Southern Pines, NC	1.0–3.0	1.0–2.0	1116	$2,392	$2.14	22d	74	1.19mi
400 Universal Rd Southern Pines, NC	1.0–3.0	1.0–2.0	1069	$2,149	$2.01	14d	158	1.22mi

Listing history 17 events

1. 2026-06-19
   days on market $149,500 Active 56 DOM
2. 2026-06-18
   days on market $149,500 Active 55 DOM
3. 2026-06-17
   days on market $149,500 Active 54 DOM
4. 2026-06-16
   days on market $149,500 Active 53 DOM
5. 2026-06-15
   days on market $149,500 Active 52 DOM
6. 2026-06-14
   days on market $149,500 Active 50 DOM
7. 2026-06-13
   days on market $149,500 Active 49 DOM
8. 2026-06-10
   days on market $149,500 Active 47 DOM
9. 2026-06-09
   days on market $149,500 Active 46 DOM
10. 2026-06-08
    days on market $149,500 Active 45 DOM
11. 2026-06-07
    days on market $149,500 Active 44 DOM
12. 2026-06-05
    days on market $149,500 Active 41 DOM
13. 2026-06-02
    days on market $149,500 Active 39 DOM
14. 2026-06-01
    days on market $149,500 Active 38 DOM
15. 2026-05-31
    days on market $149,500 Active 37 DOM
16. 2026-05-30
    days on market $149,500 Active 36 DOM
17. 2026-04-24
    listed $149,500 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: $644 · $54/mo
• Projected year-2 tax: $1,226 · $102/mo
• Expected delta: +$582/yr (+$48/mo · 90.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $30,777
• − Mortgage interest: −$8,374
• − Property taxes: −$644
• − Insurance: −$748
• − Repairs & maintenance: −$2,462
• − Management: −$2,462
• − Depreciation: −$4,349
• Taxable income: $11,737
• Est. tax owed @ 24.0%: −$2,817
• After-tax cash flow: $10,697/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: Moore County Schools
• NCES district ID: 3703090
• Math proficiency: 48% ▲ 5.00%
• Reading proficiency: 54% ▲ 5.00%
• Median HH income: $50,333
• Composite: 43.63/100
• National rank: #2967
• State rank: #58 of 178 in NC

Livability — Southern Pines

• Score: 65/100
• State rank: #327
• US rank: #13383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southern Pines, NC
• County: Moore County · 75,247 people
• City population: 16,059
• Metro: Pinehurst-Southern Pines, NC
• Population (ZIP): 16,059
• Household income: $74,830
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 760.0

Population outlook (Moore County) Hauer SSP2

• Today (2025): 106,902 people
• By 2030: 113,134 · +5.8%
• By 2040: 125,682 · +17.6%
• By 2050: 137,811 · +28.9%
• By 2075: 164,387 · +53.8%
• By 2100: 175,595 · +64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 12% Two or more races 8% Hispanic / Latino 8% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 4% Lithuanian 4% Serbian 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 5% French/Haitian/Cajun 1% Arabic 1%

Political lean MEDSL · Moore

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -8.1pp toward R · 2008: -21.4pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+27.4 2016: R+29.6 2012: R+28.1 2008: R+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.18%
• Current HPI: 196.7829
• Rent YoY: ▼ -0.76%
• Metro: Pinehurst-Southern Pines, 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

1 event — show timeline

• 2026-04-24 Listed $149,500 TMLS

Property tax history

+2.5%/yr

Latest (2024): $644 · -3.0% YoY. Source: county tax records.