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My guess is that its proximity to US1 is what's holding the house back.
It is so close to the highway, that I would think it's not really an attractive property for somebody to live in or even perhaps for a B&B or something. It would need to be moved back away from the highway, which - in addition to costing a fortune - might cause it to lose its historical designation and any tax benefits that might result from restoration. Catch 22.
The only hope would be restoration for some sort of commercial use, but what sort of commercial use would want to be located out here?
Apparently this is what it looked like in 1979 when it was added to the National Register of Historic Places. No idea what happened to it since then, but clearly it lost its front porch. Current owner purchased it in 2005 and lives in Maryland.
And here is a Flickr photo set from 2008. See the set description...guy was trying to restore it but died of a heart attack. Apparently the new owner hasn't made any progress on it since then.
And here is the National Register nomination form for it.
There are some large, beautiful houses in rural eastern NC, but they usually don't sell. The wiring and plumbing is a mess, there are structural problems, asbestos or lead paint is typical, they cost a lot of money to heat and cool, there may not be cellular coverage, access to the Internet is slow if available at all, there might not be a hospital or even an MD for a very long way, getting to a decent grocery store is a half-hour drive, the local schools probably aren't good, etc. Rural eastern NC just doesn't appeal to many people who can choose where they live.
Yeah, Wizard, I remember when I did my grad school internship in eastern NC (Martin, Beaufort, Pitt, Bertie counties) I saw TONS of abandoned houses. I always wondered what the story behind them was.
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