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Financial Snapshot For Roanoke Rapids Properties
Financials Summary
| Metric | As-Is | Stabilized |
|---|---|---|
| Monthly Income | $2,275/mo | $7,700/mo |
| Annual Gross Income | $27,300/year | $92,400/year |
| Net Operating Income | -$1,500/year | $63,600/year |
| Cap Rate (Unlevered) | Negative | ~16.96% |
| GRM | 13.74 | 4.06 |
| Estimated Equity (ARV) | – | Up to ~$410,000 |
🏡 Landlord Insurance Estimates (Annual)
The following estimates reflect typical North Carolina landlord insurance (DP-3 equivalent policies) for single-family rental properties. Premiums are adjusted based on estimated square footage, property age, and general condition.
| Address | Beds | Sq Ft (Est.) | Coverage Est. | Insurance Estimate |
|---|---|---|---|---|
| 40 Madison St | 3 | ~1,152 | $100,000 | ~$2,100 |
| 915 Henry St | 3 | ~1,000 | $100,000 | ~$2,000 |
| 221 Monroe St | 3 | ~950 | $100,000 | ~$2,000 |
| 804 Vance St | 2 | ~1,224 | $100,000 | ~$2,100 |
| 923 Henry St | 3 | ~1,000 | $100,000 | ~$2,000 |
| 316 Monroe St | 3 | ~950 | $100,000 | ~$2,000 |
| 119 Jefferson St | 3 | ~1,000 | $100,000 | ~$2,000 |
| 917 Franklin St | 3 | ~1,050 | $100,000 | ~$2,050 |
💡 Insurance Notes
- Based on landlord policies (DP-3 equivalents) in North Carolina
- Coverage assumes replacement cost + liability with limited vacancy exposure
- Actual premiums vary by carrier, roof age, HVAC, electrical, plumbing, and underwriting criteria
- Buyers should request quotes from local or national insurers for final confirmation
📄 Address-Level Property Tax Estimates
Estimated annual property taxes are based on publicly available data and the standard combined Halifax County + City of Roanoke Rapids tax rate (~1.341%).
| Address | Assessed Value (Est.) | Tax Rate (per $100) | Annual Tax (Est.) |
|---|---|---|---|
| 40 Madison St | $21,000 | $1.341 | ~$672 |
| 915 Henry St | $25,100 | $1.341 | ~$735 |
| 221 Monroe St | $20,000 (est.) | $1.341 | ~$670 |
| 804 Vance St | $20,000 (est.) | $1.341 | ~$670 |
| 923 Henry St | $23,000 (est.) | $1.341 | ~$710 |
| 316 Monroe St | $22,000 (est.) | $1.341 | ~$690 |
| 119 Jefferson St | $22,000 (est.) | $1.341 | ~$690 |
| 917 Franklin St | $24,000 (est.) | $1.341 | ~$720 |
💡 Tax Notes
- Based on Zillow tax history and local tax rates
- Actual tax bills may vary due to reassessments, exemptions, or parcel-level adjustments
- Buyers are encouraged to verify assessed values through the Halifax County Tax Assessor
🔍 FMV Sales Comps & Rental Analysis
This section provides market support for ARV and rental assumptions used in underwriting the portfolio.
Comparable Sales (ARV Support)
| Comp Address | Beds | Baths | Sq Ft | Sale Price | Distance |
|---|---|---|---|---|---|
| 1217 W 5th St | 3 | 2 | 1,250 | $165,000 | ~1.4 mi |
| 318 Oakwood Ave | 3 | 1 | 1,200 | $167,000 | ~1.3 mi |
| 507 Hamilton St | 3 | 1 | 1,150 | $165,000 | ~1.6 mi |
| 225 Chockoyotte Ave | 2 | 1 | 950 | $92,000 | ~0.9 mi |
| 217 Madison St | 3 | 1 | 1,000 | $50,000 | ~0.1 mi |
Takeaway:
Renovated single-family homes in Roanoke Rapids typically trade between $90,000 and $170,000, depending on size, condition, and location. Estimated portfolio ARV ranges from ~$545,000 to ~$785,000 total.
🏠 Rental Market Analysis
| Source | Beds | Rent | Type | Notes |
|---|---|---|---|---|
| Zillow Avg (27870) | 3 | $1,250/mo | SFH | Typical updated unit |
| HotPads Median | 2–3 | $865/mo | Mixed | City-wide median |
| Apartments.com | 2–3 | $700–$950 | Apartments | Lower-tier comps |
| Prop-Metrics.com | 3 | $1,340/mo | SFH | Market ceiling |
| RentCafe | 2–3 | $747/mo | Mixed | Budget average |
Rental Takeaway:
Updated 3-bedroom homes can reliably command $950–$1,300/month. Current portfolio rents average $569/unit, representing 100%+ upside through stabilization.
📈 Portfolio Summary
- ARV Range (Per Unit): $80,000 – $125,000
- Market Rent Range: $950 – $1,300/month
- Current Avg Rent: $569/unit/month
- Portfolio Rent Gap: ~$3,000–$4,000/month
This data supports refinance, BRRRR, or long-term cash-flow strategies.