105 N Pearl St · Williamston, NC 27892

$36,000

2 bd · 1.0 ba · 1,108 sqft · SingleFamily public records · 155 Days on market

Built 1950 5,227 sqft lot ↓ 29% since listing

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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
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Looking for your next project? Don't miss this fixer-upper or Investments Opportunity. The home has been gutted down to the studs, providing a blank canvas for your vision. The layout is 3 bedrooms, 2 bathrooms, a formal living room, kitchen, laundry room. Whether you're an investor or a home owner with a vision, this home is waiting for you with a new foundation, some windows have been replaced, most of the plumbing have been completed. Seller willing to install HVAC for the new owners or investors. Don't miss this incredible opportunity to add to your investments portfolio. Schedule a showing today!

Key facts

• New foundation
• Shingles replaced
• 5,227 sq ft lot

Tags

• NEW FOUNDATION
• SOME WINDOWS REPLACED
• MOST PLUMBING COMPLETED
• SHINGLES REPLACED

Property features AI

Finance

• Other: Lot is on a cul-de-sac and is an open lot; Roads are paved with city street and state road frontage; Zoned R
• Financial info: Financial details not included
• HOA & community: No association amenities

Exterior

• Parking: Paved parking
• Security: No security features listed
• Utilities: Public water; Sewer available
• Home design: Single-family residence; Residential property; One story; Entry level is at ground floor
• Construction: Wood siding and frame construction; Brick/mortar foundation
• Exterior features: No exterior features listed; No patio or porch features; No fencing; Shingle roof; Property has a view

Interior

• Kitchen: No kitchen appliances specified
• Bedrooms: Bedrooms not specifically listed
• Flooring: Flooring not specified
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: No built-in appliances listed; Total of 6 rooms
• Laundry & utility: Laundry located in hall

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($988 rent vs $36k).
• Recommended offer: $32k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.5% vs local median 4.6% in Williamston — 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 58/100 on livability (#584 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Martin County Schools (rural): math 24% / reading 34% proficiency, ranked #150 of 178 in NC (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Williamston Primary (368 students, 99% FRL) — zoned schools average 99% FRL vs 62% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 72 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($249 loan paydown + $2k appreciation (5.1% local appreciation)).
• Martin County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $31,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.74% ✓
• Cap rate: 24.46%
• Cash-on-cash: 64.87%
• DSCR: 3.89
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $118,556
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Center St	0.37mi	3/1.0 (+1)	1,056 (-5%)	2mo	$100,000	$95	68
210 Faulk St	0.46mi	3/2.0 (+1)	1,074 (-3%)	4mo	$143,000	$133	61
302 E Simmons Avenue E	0.54mi	3/1.0 (+1)	1,140 (+3%)	7mo	$129,900	$114	59
411 N Broad St	0.42mi	3/1.0 (+1)	1,200 (+8%)	4mo	$55,000	$46	58
216 N Elm St	0.14mi	3/1.0 (+1)	1,260 (+14%)	12mo	$85,000	$67	55
803 W Church St	0.37mi	3/1.0 (+1)	1,248 (+13%)	4mo	$45,000	$36	53
503 S Haughton St	0.36mi	3/1.0 (+1)	1,249 (+13%)	10mo	$136,000	$109	48
212 Morris St	0.51mi	3/1.5 (+1)	1,256 (+13%)	4mo	$102,500	$82	43
604 School Dr	0.61mi	2/1.0	952 (-14%)	9mo	$114,250	$120	40
117 Plum St	0.71mi	3/1.5 (+1)	1,188 (+7%)	12mo	$177,500	$149	38
100 Brownlow Ave	0.57mi	3/1.5 (+1)	1,254 (+13%)	12mo	$75,000	$60	34
904 N Smithwick St	0.71mi	3/1.0 (+1)	1,266 (+14%)	7mo	$134,900	$107	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 71.7%
• Equity multiple: 5.29×
• Total profit: $43,266
• Equity at exit: $20,675

10-year hold

• IRR: 69.5%
• Equity multiple: 10.99×
• Total profit: $100,692
• Equity at exit: $35,910

Cash invested: $10,080 (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 27892

• Home prices YoY: 3.0%
• Active inventory: 72
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $988 medium
• Mortgage (P&I): −$189
• Tax from tax record: −$32 /mo · $384/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $545

Break-even live

Break-even rent $298

Max offer price $36,000

Occupancy floor 40%

Sensitivity live

Price	-10% $565	-5% $555	+0% $545	+5% $535	+10% $525
Rent	-10% $467	-5% $506	+0% $545	+5% $584	+10% $623
Rate	-1.0pp $563	-0.5pp $554	base $545	+0.5pp $536	+1.0pp $526

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: $9,000
• Closing costs: $1,080
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $36,000 Active 155 DOM
2. 2026-06-18
   days on market $36,000 Active 154 DOM
3. 2026-06-17
   days on market $36,000 Active 153 DOM
4. 2026-06-16
   days on market $36,000 Active 152 DOM
5. 2026-06-15
   days on market $36,000 Active 151 DOM
6. 2026-06-14
   days on market $36,000 Active 149 DOM
7. 2026-06-12
   days on market $36,000 Active 148 DOM
8. 2026-06-09
   days on market $36,000 Active 145 DOM
9. 2026-06-08
   days on market $36,000 Active 144 DOM
10. 2026-06-07
    days on market $36,000 Active 143 DOM
11. 2026-06-03
    days on market $36,000 Active 139 DOM
12. 2026-06-02
    days on market $36,000 Active 138 DOM
13. 2026-06-01
    days on market $36,000 Active 137 DOM
14. 2026-05-31
    days on market $36,000 Active 136 DOM
15. 2026-05-30
    days on market $36,000 Active 135 DOM
16. 2026-04-21
    price $39,000
17. 2026-02-11
    price $49,000
18. 2026-01-15
    listed $55,000 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: $384 · $32/mo
• Projected year-2 tax: $384 · $32/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $11,858
• − Mortgage interest: −$2,017
• − Property taxes: −$384
• − Insurance: −$180
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$1,047
• Taxable income: $6,333
• Est. tax owed @ 24.0%: −$1,520
• After-tax cash flow: $5,019/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: Martin County Schools
• NCES district ID: 3702880
• Math proficiency: 24% ▼ -2.00%
• Reading proficiency: 34% ▲ 1.00%
• Median HH income: $35,403
• Composite: 23.94/100
• National rank: #7781
• State rank: #150 of 178 in NC

Livability — Williamston

• Score: 58/100
• State rank: #584
• US rank: #21504

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Williamston, NC
• Population (ZIP): 13,387

Population outlook (Martin County) Hauer SSP2

• Today (2025): 21,018 people
• By 2030: 19,693 · -6.3%
• By 2040: 16,793 · -20.1%
• By 2050: 14,171 · -32.6%
• By 2075: 9,804 · -53.4%
• By 2100: 6,894 · -67.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 53% Black 38% Two or more races 5% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 94% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Martin

• 2024 margin: R (+10.3) · D 44.6% · R 54.9%
• 2008→2024 swing: -15.0pp toward R · 2008: 4.6pp · 2024: -10.3pp
• All cycles: 2024: R+10.3 2020: R+5.0 2016: R+0.5 2012: D+4.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.13%
• Current HPI: 178.4817
• 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

-29.1% since first listed

3 events — show timeline

• 2026-04-21 Price Changed $39,000 Hive MLS
• 2026-02-11 Price Changed $49,000 Hive MLS
• 2026-01-15 Listed $55,000 Hive MLS

Property tax history

+1.2%/yr

Latest (2025): $384 · +20.2% YoY. Source: county tax records.