3526 Red Tip Ln · Farmville, NC 27828

$169,500

3 bd · 2.0 ba · 1,550 sqft · Manufactured public records · 20 Days on market

Built 1984 0.46 ac lot

---

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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy country living in this spacious double wide home nestled on a large lot in Farmville, complete with two detached buildings for extra storage or workspace, plus a covered patio and deck that are perfect for relaxing or entertaining family and friends.

Key facts

• Detached buildings
• Large lot
• Covered patio

Tags

• LARGE LOT
• DETACHED BUILDINGS
• COVERED PATIO
• DECK

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Water connected
• Home design: Manufactured home (residential); One story; Entry level: 1
• Construction: Vinyl siding exterior; Brick/mortar foundation
• Exterior features: Covered rear porch; Wood fencing; No additional exterior features listed; Shingle roof

Interior

• Bedrooms: Total rooms: 7
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Ceiling fan(s); Accessible entrance; Walker-accessible stairs; Accessible full bath; Has view

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/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 $167k (1.4% below list).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.0% in Farmville — 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 66/100 on livability (#272 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, employment C-, crime 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: H B Sugg Elementary (401 students, 99% FRL); Farmville Middle (math 31% / reading 35%, grade F, #305 of 475 statewide, top 65%, 611 students, 100% FRL); Farmville Central High (math 42% / reading 47%, grade F, #352 of 535 statewide, top 68%, 789 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: 86 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $166,957 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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 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: 0.99% ✗
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.4%
• Equity multiple: 0.84×
• Total profit: $-7,766
• Equity at exit: $25,273

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $18,399
• Equity at exit: $14,655

Cash invested: $47,460 (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 27828

• Home prices YoY: -20.9%
• Active inventory: 86
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,671 medium
• Mortgage (P&I): −$889
• Tax from tax record: −$50 /mo · $597/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $310

Break-even live

Break-even rent $1,278

Max offer price $169,500

Occupancy floor 76%

Sensitivity live

Price	-10% $406	-5% $358	+0% $310	+5% $263	+10% $215
Rent	-10% $179	-5% $244	+0% $310	+5% $376	+10% $442
Rate	-1.0pp $396	-0.5pp $354	base $310	+0.5pp $267	+1.0pp $222

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: $42,375
• Closing costs: $5,085
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-13
   statusdays on market $169,500 Pending 20 DOM
2. 2026-06-10
   days on market $169,500 Active 19 DOM
3. 2026-06-09
   days on market $169,500 Active 18 DOM
4. 2026-06-08
   days on market $169,500 Active 17 DOM
5. 2026-06-07
   days on market $169,500 Active 16 DOM
6. 2026-06-05
   days on market $169,500 Active 13 DOM
7. 2026-06-03
   days on market $169,500 Active 12 DOM
8. 2026-06-02
   days on market $169,500 Active 11 DOM
9. 2026-06-01
   days on market $169,500 Active 10 DOM
10. 2026-05-31
    days on market $169,500 Active 9 DOM
11. 2026-05-30
    days on market $169,500 Active 8 DOM
12. 2026-05-21
    listed $169,500 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: $597 · $50/mo
• Projected year-2 tax: $1,390 · $116/mo
• Expected delta: +$792/yr (+$66/mo · 132.6%)

ⓘ 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 7/10 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: $20,047
• − Mortgage interest: −$9,495
• − Property taxes: −$597
• − Insurance: −$848
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$4,931
• Taxable income: $969
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $3,493/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 — Farmville

• Score: 66/100
• State rank: #272
• US rank: #11852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,155

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 0.60)
• Race & ethnicity: White 50% Black 37% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Subsaharan African 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 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: ▼ -51.30%
• Current HPI: 193.5248
• 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

• 2026-05-21 Listed $169,500 Hive MLS

Property tax history

+8.7%/yr

Latest (2025): $597 · +2.0% YoY. Source: county tax records.