Perquimans (NC) Investor Pulse Report (2026-Q1)

Investors hold a significant 26.7% of the 5,846 Single Family Residential (SFR) properties in Perquimans County, totaling 1,561 homes.

The market is overwhelmingly controlled by individual investors, who own 1,484 properties (95.1%), compared to just 103 (6.6%) owned by companies. This structure underscores the "mom-and-pop" nature of the local rental market.

There are 1,907 individual landlords versus 98 company landlords, a ratio of over 19 to 1, further cementing the dominance of small-scale real estate investing in the region.

A strong preference for cash ownership is evident, with 1,328 properties (85.1%) held without financing, while only 233 (14.9%) have active mortgages. This suggests a financially stable and low-leverage investor base.

The portfolio is heavily geared towards rentals, with 1,532 of the 1,561 investor-owned properties identified as rented. This high rental penetration highlights the primary strategy of local investors.

In a striking market reversal, landlords paid more than traditional homeowners in Q1 2026, with an average acquisition price of $567,656 compared to the homeowner average of $508,988. This represents an 11.5% premium, or $58,668 more per property.

This premium directly contrasts with the significant discounts investors secured throughout 2025. For example, landlords enjoyed a 15.0% discount ($61,029) in Q3 2025 and an even steeper 37.4% discount ($145,283) in Q1 2025.

The shift from a 37.4% discount in Q1 2025 to an 11.5% premium in Q1 2026 indicates a dramatic change in market dynamics, potentially driven by increased competition for limited inventory or a shift in the type of properties being acquired by investors.

Overall prices have appreciated significantly. The average landlord purchase price in Q1 2026 ($567,656) is 38.3% higher than the 2024 average ($455,646) and 90.5% higher than the pandemic-era (2020-2023) average of $297,396.

The widening and then inversion of the price gap between landlords and homeowners suggests that investor purchasing strategies are highly adaptive to changing market conditions in Perquimans County.

Investors captured 19.6% of the Perquimans County housing market in Q4 2025, purchasing 9 of the 46 total SFR properties that were sold.

The acquisition activity was dominated by small "mom-and-pop" landlords (1-10 properties), who were responsible for 88.9% of all investor purchases, acquiring 8 homes.

In contrast, institutional investors (1,000+ properties) made zero purchases in Q4, highlighting their absence from this local market's acquisition landscape.

New market entrants were a major force, with single-property landlords (Tier 01) making up the largest group of buyers. These 9 new entities acquired 6 properties, representing 66.7% of all landlord purchases for the quarter.

The data shows a healthy influx of new, small-scale investors, while larger and institutional players remain on the sidelines, reinforcing the county's character as a market for individual investors.

The investor landscape in Perquimans County is overwhelmingly dominated by small-scale owners. Landlords with 1-10 properties (Tiers 01-04) control a commanding 98.1% of all investor-held SFRs.

Single-property landlords form the bedrock of the market, owning 1,289 properties. This represents 80.2% of the entire investor-owned housing stock, showcasing the decentralized nature of ownership.

Mid-size landlords (11-1,000 properties) have a very small footprint, collectively owning just 24 properties, or 1.5% of the total investor portfolio.

Institutional investors (Tier 09, 1,000+ properties) have a negligible presence, holding only 6 properties, which amounts to 0.4% of the market. This defies the common narrative of large corporate ownership in many areas.

The extreme concentration of ownership in the smallest tiers highlights a market driven by local, individual capital rather than large, consolidated investment funds. A detailed property ownership by owner type report would confirm this localized trend.

Individual investors are the primary owners across nearly all portfolio sizes. They own 94.7% of single-property portfolios (1,240 properties) and 92.6% of two-property portfolios (125 properties).

The transition to majority-company ownership occurs at the 11-20 property tier. In this segment, companies own 3 of the 4 properties, a 75.0% share, marking a clear strategic shift for larger portfolios.

Even in larger tiers, individual ownership remains significant. For portfolios of 51-100 properties, individuals still own 80% (4 properties), indicating that even larger local investors often operate without formal incorporation.

Company ownership is most concentrated at the entry-level for mid-size investors (11-20 properties), suggesting that incorporation becomes a strategic necessity once a portfolio scales beyond 10 units.

Overall, the data paints a picture of a market where individuals build small-to-medium portfolios, with corporate structures only becoming prevalent at a specific, higher threshold.

Investor ownership in Perquimans County is extremely concentrated geographically. A single zip code, NC-Perquimans-27944, contains 1,433 of the 1,561 investor-owned properties, accounting for 91.8% of the entire portfolio.

While NC-Perquimans-27944 dominates by sheer volume, other smaller zip codes exhibit higher investor penetration rates. NC-Perquimans-27932 has an investor ownership rate of 29.5%, and NC-Perquimans-27985 shows a 100.0% rate, likely representing a very small area with few total properties.

The second most active area by count, NC-Perquimans-27919, has just 93 investor-owned properties, a fraction of the leader, highlighting the stark drop-off in activity outside the primary investment zone.

This pattern of a single dominant zip code suggests that investor strategy is highly localized, focusing on a specific community or area with desirable characteristics for rentals.

The distinction between high-volume areas (27944) and high-percentage areas (27932, 27985) is crucial for understanding market dynamics. While one area attracts the most capital, others may be fully saturated with rental properties.

The overall investor community in Perquimans County is in a strong accumulation phase. In Q1 2026, landlords were net buyers, purchasing 12 SFRs while selling only 5, for a net gain of 7 properties.

This behavior is part of a long-term trend. Throughout 2025, investors bought 86 properties and sold just 12 (net +74), and in 2024 they bought 96 and sold 17 (net +79), consistently expanding their portfolios.

A stark contrast emerges when looking at institutional investors (1,000+ properties). While their activity is minimal, they were net sellers in 2025, acquiring only 1 property while divesting 2. This suggests large investors are exiting while smaller ones are entering.

The buy-to-sell ratio for all landlords in Q1 2026 was 2.4-to-1, indicating strong confidence in the local market and a focus on long-term holds rather than quick flips.

The divergence between the broader market's buying spree and the institutional retreat, however small, signals that the growth drivers in this county are local and small-scale, not national funds.

In Q1 2026, investors were involved as buyers in 16.9% of all market transactions, accounting for 12 of the 71 total SFR sales in Perquimans County.

A surprising pricing pattern emerged among buyers: single-property landlords (Tier 01) paid the highest average price at $677,714. This is more than five times the $129,900 paid by the large landlord (101-1,000 properties) who made a purchase this quarter.

This price disparity suggests new entrants may be paying a premium for turnkey properties or competing more directly with traditional homebuyers, while larger, more experienced investors target lower-cost assets.

Inter-landlord trading activity was notable in the two-property tier, where 50% of acquisitions (1 of 2 transactions) were sourced from another landlord, indicating a liquid market for smaller portfolios.

In contrast, the large landlord purchase and 77.8% of single-property landlord purchases came from non-investors, showing that most new inventory is acquired from the general market.