4302 Martin Luther King Junior St · Ayden, NC 28513

$88,000

3 bd · 1.0 ba · 1,632 sqft · SingleFamily public records · 28 Days on market

Built 1935 0.26 ac lot

---

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
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special or perfect opportunity for a first-time buyer ready to create something special! Nestled in the heart of Ayden, this charming fixer-upper is full of incredible potential and waiting for the right vision to bring it to life. Situated on a spacious . 26-acre lot, this 3-bedroom, 2-bath home offers plenty of room to renovate, personalize, and build equity. Located within the city limits while still offering that warm small-town feel, this property is an affordable opportunity to put down roots, start your investment portfolio, or design the home you've always imagined. With solid space, a great location, and endless possibilities, this hidden gem is ready for transformation. B

Key facts

• 0.26 acre lot
• Built 1935
• Listed 28 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Water connected
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Vinyl siding; Frame construction; Crawl space foundation; Built with standard shingle roofing
• Exterior features: Covered front porch; Shingle roof; No fencing; Has a view; Paved road access; Frontage on city street and state road

Interior

• Bedrooms: 5 total rooms (room count provided)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Ceiling fans; Propane heating; Electric heating; Forced air heating
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $87k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 2.8% in Ayden — 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 76/100 on livability (#41 in NC, #3,656 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, employment D, commute 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: Ayden Elementary (math 30% / reading 34%, grade F, #908 of 1,410 statewide, top 67%, 638 students, 100% FRL); Ayden Middle (math 34% / reading 39%, grade F, #270 of 475 statewide, top 57%, 388 students, 99% FRL); Ayden-Grifton High (math 32% / reading 42%, grade F, #414 of 535 statewide, top 79%, 659 students, 99% FRL) — zoned schools average 99% FRL vs 56% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 156 active listings in the ZIP; 3 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $86,680 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — 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. 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?
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: 1.71% ✓
• Cap rate: 14.95%
• Cash-on-cash: 30.91%
• DSCR: 2.38
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $241,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
333 Fifth St	0.33mi	3/1.0	1,637 (+0%)	1mo	$185,000	$113	83
4318 Martin Luther King Jr. St	0.04mi	3/2.5	1,717 (+5%)	2mo	$189,000	$110	82
4214 Park Ave	0.15mi	3/2.0	1,721 (+6%)	4mo	$211,000	$123	76
4191 Washington St	0.28mi	3/2.0	1,577 (-3%)	9mo	$254,000	$161	70
4162 Westhaven Ave	0.52mi	3/2.0	1,591 (-2%)	0mo	$246,750	$155	67
452 Snow Hill St	0.23mi	3/1.5	1,764 (+8%)	9mo	$219,900	$125	66
620 2nd St	0.60mi	3/2.0	1,630 (-0%)	10mo	$245,000	$150	60
316 Allen Dr	0.59mi	3/2.0	1,573 (-4%)	4mo	$290,000	$184	59
4204 Lee St	0.49mi	3/1.5	1,809 (+11%)	2mo	$245,000	$135	55
4187 SE College St	0.75mi	3/1.0	1,465 (-10%)	5mo	$90,000	$61	44
400 Silo Ct	0.67mi	4/3.0 (+1)	1,815 (+11%)	6mo	$285,000	$157	32
4502 Bushel Ct	0.72mi	4/3.0 (+1)	1,824 (+12%)	5mo	$269,500	$148	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 2.06×
• Total profit: $26,146
• Equity at exit: $13,121

10-year hold

• IRR: 33.4%
• Equity multiple: 4.03×
• Total profit: $74,765
• Equity at exit: $7,609

Cash invested: $24,640 (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 28513

• Home prices YoY: -8.8%
• Active inventory: 156
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,502 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$54 /mo · $648/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $635

Break-even live

Break-even rent $699

Max offer price $88,000

Occupancy floor 53%

Sensitivity live

Price	-10% $684	-5% $660	+0% $635	+5% $610	+10% $585
Rent	-10% $516	-5% $575	+0% $635	+5% $694	+10% $753
Rate	-1.0pp $679	-0.5pp $657	base $635	+0.5pp $612	+1.0pp $589

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
482 Snow Hill St Ayden, NC	3.0	2.0	1989	$1,550	$0.78	21d	1	0.25mi
4058 West Ave Ayden, NC	2.0	1.0	1350	$1,500	$1.11	21d	1	0.56mi
4335 Legacy Park Way Ayden, NC	2.0	2.0	1050	$1,325	$1.26	21d	1	0.75mi

Listing history 19 events

1. 2026-06-19
   days on market $88,000 Active 28 DOM
2. 2026-06-18
   days on market $88,000 Active 27 DOM
3. 2026-06-17
   days on market $88,000 Active 26 DOM
4. 2026-06-16
   days on market $88,000 Active 25 DOM
5. 2026-06-15
   days on market $88,000 Active 24 DOM
6. 2026-06-13
   days on market $88,000 Active 21 DOM
7. 2026-06-10
   days on market $88,000 Active 19 DOM
8. 2026-06-09
   days on market $88,000 Active 18 DOM
9. 2026-06-09
   price $88,000 Active 17 DOM
10. 2026-06-08
    days on market $108,000 Active 17 DOM
11. 2026-06-07
    days on market $108,000 Active 16 DOM
12. 2026-06-05
    days on market $108,000 Active 13 DOM
13. 2026-06-03
    days on market $108,000 Active 12 DOM
14. 2026-06-03
    price $108,000 Active 11 DOM
15. 2026-06-02
    days on market $125,000 Active 11 DOM
16. 2026-06-01
    days on market $125,000 Active 10 DOM
17. 2026-05-31
    days on market $125,000 Active 9 DOM
18. 2026-05-30
    days on market $125,000 Active 8 DOM
19. 2026-05-22
    listed $125,000 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: $648 · $54/mo
• Projected year-2 tax: $722 · $60/mo
• Expected delta: +$73/yr (+$6/mo · 11.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°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: $18,027
• − Mortgage interest: −$4,929
• − Property taxes: −$648
• − Insurance: −$440
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − Depreciation: −$2,560
• Taxable income: $6,565
• Est. tax owed @ 24.0%: −$1,576
• After-tax cash flow: $6,040/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 — Ayden

• Score: 76/100
• State rank: #41
• US rank: #3656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ayden, NC
• Population (ZIP): 9,754

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 0.58)
• Race & ethnicity: White 57% Black 29% Hispanic / Latino 13% Two or more races 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2% Cuban 1%
• Common ancestry: Serbian 3% Italian 1% Iranian 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 10%

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: ▼ -18.36%
• Current HPI: 190.2552
• 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

1 event — show timeline

• 2026-05-22 Listed $125,000 Hive MLS

Property tax history

+18.6%/yr

Latest (2025): $648 · +1.9% YoY. Source: county tax records.