GREAT INVESTMENT OPPORTUNITY on 1.3 ACRES in the Highly Desired PRINCETON SCHOOL DISTRICT! This approximately 1,500 SF home, built around 1940, offers tons of character and potential with 3 BEDROOMS and 2 BATHS. The property needs some TLC, making it an excellent opportunity for investors, renovators, or buyers looking to create something special. Features include a METAL ROOF and spacious lot with room to enjoy country living. Currently TENANT-OCCUPIED. Please note: ALL APPLIANCES belong to the tenant and HVAC needs work. With the right vision, this property could truly shine! CASH OR CONVENTIONAL LOAN ONLY.
GREAT INVESTMENT OPPORTUNITY on 1.3 ACRES in the Highly Desired PRINCETON SCHOOL DISTRICT! This approximately 1,500 SF home, built around 1940, offers tons of character and potential with 3 BEDROOMS and 2 BATHS. The property needs some TLC, making it an excellent opportunity for investors, renovators, or buyers looking to create something special. Features include a METAL ROOF and spacious lot with room to enjoy country living. Currently TENANT-OCCUPIED. Please note: ALL APPLIANCES belong to the tenant and HVAC needs work. With the right vision, this property could truly shine! CASH OR CONVENTIONAL LOAN ONLY.
TMLS #10168344
Aug 7, 2026
Pending
—
Jul 16, 2026
Price Changed
$168,844
$112/sq ft
May 19, 2026
Listed
$174,066
$116/sq ft
Hive MLS #100555091
May 15, 2026
Listing Removed
—
Feb 17, 2026
Listed
$179,450
$119/sq ft
TMLS #10147034
May 15, 2026
Listing Removed
—
Feb 17, 2026
Listed
$179,450
$119/sq ft
TMLS #10117713
Feb 11, 2026
Listing Removed
—
Dec 23, 2025
Price Changed
$179,450
$119/sq ft
Aug 23, 2025
Listed
$185,000
$123/sq ft
Hive MLS #100526778
Feb 11, 2026
Listing Removed
—
Dec 23, 2025
Price Changed
$179,450
$119/sq ft
Aug 23, 2025
Listed
$185,000
$123/sq ft
Year
Property tax
Land + Additions
Assessment*
2026
$870 (−1.6%)
$48,880 + $90,360
$139,240
2025
$884 (+45.1%)
$48,880 + $90,360
$139,240
2024
$609 (+6.3%)
$24,440 + $50,780
$75,220
2023
$573 (−4.8%)
$24,440 + $48,080
$72,520
2022
$602
$24,440 + $48,080
$72,520
2021
$602 (+2.5%)
$24,440 + $48,080
$72,520
2020
$587
$24,440 + $48,080
$72,520
2019
$587 (+8.7%)
$24,440 + $48,080
$72,520
2018
$541
$24,440 + $40,680
$65,120
2017
$541
$24,440 + $40,680
$65,120
2016
$540
$24,440 + $40,680
$65,120
2014
$540
$24,440 + $40,680
$65,120
2013
$541
$24,440 + $40,680
$65,120
2012
$541
$24,440 + $40,680
$65,120
2011
$541
$24,440 + $40,680
$65,120
Public record
Public record
Zoning
Beds
3
Baths
1
Stories
1
Lot width
—
Lot depth
—
Lot size
1.3 Acres
Year renovated
1980
Finished Sq. Ft.
1,550
Unfinished Sq. Ft.
—
Total Sq. Ft.
1,550
Year built
1940
Style
Single Family Residential
County
Johnston County
APN
04P10144S
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 14, 2026.
AR
Agricultural-Residential District
The agricultural-residential district (AR) is intended to encourage the continuance of agricultural uses as well as to ensure that residential development will occur at sufficient densities to provide for a range of housing opportunities throughout the county. Further, it is the intention of the regulations of this district to ensure that residential development having access and connecting to public water and sanitary sewer systems will occur within a healthful environment.
Permitted uses
Include but are not limited to:
Community / recreation center
Religious facility
Housing-Single unit
Housing-Multiple units
Infrastructure
Educational/school
Library
Cemetery
Housing-Mobile home park
Park & open space
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
4/10 Fire Factor
0.93% chance of being in a wildfire in next 30 years
7/10 Heat Factor
7 days above 106° expected this year, 17 days in 30 years
7/10 Wind Factor
78% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Princeton, NC • 27569
Average low and high temperatures (°F)
50
30
56
36
72
47
78
55
80
61
90
69
91
74
83
68
82
65
73
52
66
45
55
35
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
100/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.2 hrs
6.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 278 Old Cornwallis Rd
$154,330
$15K under list price of $169K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $200K to $273K.