303 Paris Ave · Greenville, NC 27834

$120,000

4 bd · 1.0 ba · 2,109 sqft · MultiFamily public records · 7 Days on market

Built 1920 7,841 sqft lot Est $114k · 5% over

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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 +5.1/15.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

EXCELLENT rental history. No Vacancies! 2 bedrooms, one bath upstairs (B side-left door) and 3 bedrooms, one bath downstairs (A side-right door). Vinyl exterior, Wood floors, EBB heat, extra blown-in insulation, thermal windows. RETURN ON INVESTMENT CAN'T BE BEAT! Rented for $325 (B side) & $475 (A side) per month through June 30, 2017. Please give 24 hour notice for showings.

Key facts

• 7,841 sq ft lot
• Built 1920
• Listed 7 days

Property features AI

Finance

• Other: Property subtype: Duplex; Total building size listed as 3,504
• Financial info: Income units listed with actual rents around $700 per unit (multiple 2BR and 3BR units)
• HOA & community: No association amenities

Exterior

• Parking: On-site unpaved parking; Off-street parking; No formal garage
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Residential income property (duplex); Two-story; Vinyl siding and frame construction
• Construction: Metal roof
• Exterior features: Covered porch; Porch; No pool; Has a view; Road frontage on city street and state road; Lot dimensions approximately 50 x 150 (0.18 acres); Zoning: R6

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Multiple units: 2-bedroom and 3-bedroom units (unfurnished)
• Flooring: Wood flooring
• Heating & cooling: Central air; Heat pump; Wall furnace; Electric heating; Forced air
• Interior features: Insulated windows with window coverings; Electric water heater; Gas water heater; Crawl space basement (no full basement)
• Laundry & utility: Washer hookup in kitchen

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $120k.

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 ($2k rent vs $120k).
• Cap rate 18.3% vs local median 3.8% in Greenville — 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 77/100 on livability (#30 in NC, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, employment F.
• Pitt County Schools (rural): math 41% / reading 44% proficiency, ranked #100 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Greenville Elementary (math 8% / reading 12%, grade F, #1,385 of 1,410 statewide, top 99%, 281 students, 96% FRL); C M Eppes Middle (math 24% / reading 32%, grade F, #360 of 475 statewide, top 77%, 626 students, 99% FRL); Junius H Rose High (math 52% / reading 61%, grade C, #261 of 535 statewide, top 49%, 1,525 students, 50% FRL) — zoned schools average 82% FRL vs 56% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 350 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).
• At $2,480/mo this rent would consume 61% of the median local household income ($49k/yr) (locally 3319% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $100k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $120,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.07% ✓
• Cap rate: 18.27%
• Cash-on-cash: 42.79%
• DSCR: 2.90
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $113,886
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Watauga Ave Unit A&B	0.11mi	4/2.0	2,312 (+10%)	3mo	$125,000	$54	72

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 · 5.44% rent growth · sell at horizon

5-year hold

• IRR: 42.2%
• Equity multiple: 2.88×
• Total profit: $63,098
• Equity at exit: $17,892

10-year hold

• IRR: 49.4%
• Equity multiple: 6.36×
• Total profit: $180,094
• Equity at exit: $10,375

Cash invested: $33,600 (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 27834

• Rents YoY: 5.4%
• Active inventory: 350
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,480 high
• Mortgage (P&I): −$629
• Tax from tax record: −$82 /mo · $981/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $1,198

Break-even live

Break-even rent $963

Max offer price $120,000

Occupancy floor 47%

Sensitivity live

Price	-10% $1,266	-5% $1,232	+0% $1,198	+5% $1,164	+10% $1,130
Rent	-10% $1,002	-5% $1,100	+0% $1,198	+5% $1,296	+10% $1,394
Rate	-1.0pp $1,259	-0.5pp $1,229	base $1,198	+0.5pp $1,167	+1.0pp $1,135

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,200
1× unit	3	1	$1,281
Total (2 units)			$2,480

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
550 Pitt-Greene Connector Greenville, NC	4.0	1.0–4.0	1012	$1,475	$1.46	13d	25	0.69mi
1035 Spring Forest Rd Greenville, NC	3.0	2.0–2.5	1453	$1,450	$1.00	21d	2	1.36mi
1015 Spring Forest Rd Unit F5 Greenville, NC	3.0	2.5	1453	$1,200	$0.83	21d	1	1.40mi
2610 Evans St Greenville, NC	3.0	2.0	1931	$1,800	$0.93	21d	1	1.42mi

Listing history 7 events

1. 2026-05-13
   status Pending
2. 2026-05-05
   listed $120,000 Active
3. 2021-08-09
   soldstatus $100,000
4. 2019-12-18
   soldstatus $30,000
5. 2017-01-27
   soldstatus $30,000 385-char remark

   Show marketing remark (385 chars)

   EXCELLENT rental history. No Vacancies! 2 bedrooms, one bath upstairs (B side-left door) and 3 bedrooms, one bath downstairs (A side-right door). Vinyl exterior, Wood floors, EBB heat, extra blown-in insulation, thermal windows. RETURN ON INVESTMENT CAN'T BE BEAT! Rented for $325 (B side) & $475 (A side) per month through June 30, 2017. Please give 24 hour notice for showings.

6. 2016-06-21
   listed $35,000 385-char remark

   Show marketing remark (385 chars)

   EXCELLENT rental history. No Vacancies! 2 bedrooms, one bath upstairs (B side-left door) and 3 bedrooms, one bath downstairs (A side-right door). Vinyl exterior, Wood floors, EBB heat, extra blown-in insulation, thermal windows. RETURN ON INVESTMENT CAN'T BE BEAT! Rented for $325 (B side) & $475 (A side) per month through June 30, 2017. Please give 24 hour notice for showings.

7. 1984-08-01
   soldstatus $14,000

ⓘ 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: $981 · $82/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$3/yr ($0/mo · 0.3%)

ⓘ 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 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,760
• − Mortgage interest: −$6,722
• − Property taxes: −$981
• − Insurance: −$600
• − Repairs & maintenance: −$2,381
• − Management: −$2,381
• − Depreciation: −$3,491
• Taxable income: $13,205
• Est. tax owed @ 24.0%: −$3,169
• After-tax cash flow: $11,209/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: Pitt County Schools
• NCES district ID: 3700012
• Math proficiency: 41% ▬ 0.00%
• Reading proficiency: 44% ▲ 2.00%
• Median HH income: $40,631
• Composite: 35.67/100
• National rank: #4877
• State rank: #100 of 178 in NC

Livability — Greenville

• Score: 77/100
• State rank: #30
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NC
• County: Pitt County · 142,592 people
• City population: 115,121
• Metro: Greenville, NC
• Population (ZIP): 56,347
• Household income: $48,935
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 3319.0

Population outlook (Pitt County) Hauer SSP2

• Today (2025): 194,585 people
• By 2030: 203,756 · +4.7%
• By 2040: 220,807 · +13.5%
• By 2050: 236,614 · +21.6%
• By 2075: 275,940 · +41.8%
• By 2100: 300,058 · +54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 54% White 33% Hispanic / Latino 8% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · Pitt

• 2024 margin: Lean D (+6.0) · D 52.5% · R 46.5% · Other 1.1%
• 2008→2024 swing: -2.8pp toward R · 2008: 8.8pp · 2024: 6.0pp
• All cycles: 2024: D+6.0 2020: D+9.4 2016: D+7.4 2012: D+6.7 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.99%
• Current HPI: 190.6869
• Rent YoY: ▲ 5.44%
• Metro: Greenville, 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

+757.1% since first listed

7 events — show timeline

• 2026-05-13 Pending — Hive MLS
• 2026-05-05 Listed $120,000 Hive MLS
• 2021-08-09 Sold (Public Records) $100,000 Public Records
• 2019-12-18 Sold (Public Records) $30,000 Public Records
• 2017-01-27 Sold (MLS) $30,000 Hive MLS
• 2016-06-21 Listed $35,000 Hive MLS
• 1984-08-01 Sold (Public Records) $14,000 Public Records

Property tax history

+15.8%/yr

Latest (2025): $981 · +1.2% YoY. Source: county tax records.