110 Hudson St

Pollocksville, NC 28573

$35,000B-

4 bd · 1.0 ba · 1,213 sqft · Built 1965 · SingleFamily · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,368/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$453
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $444/mo
• Annual: $5,325/yr
• Cap rate: 36.13%
• Cash-on-cash: 106.57%
• DSCR: 5.74
• 1% rule: 3.91%
• Cash to close: $9,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• It's been on market 72 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#498 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety B; Watch: crime F, amenities F, commute F.
• Jones County Schools (rural): math 34% / reading 43% proficiency, ranked #121 of 178 in NC (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pollocksville Elementary (math 42% / reading 57%, grade D, #417 of 1,410 statewide, top 32%, 119 students, 98% FRL); Jones Senior High School (math 35% / reading 47%, grade F, #385 of 535 statewide, top 72%, 557 students, 100% FRL) — zoned schools average 98% FRL vs 70% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 13 active listings in the ZIP; 39 units permitted in Jones County in 2024 (0 in 5+ unit buildings).
• Jones County population projected at -18% 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 97% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.