309 E Roseboro St

Roseboro, NC 28382

$49,900B+

2 bd · 1.0 ba · 1,486 sqft · Built 1950 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,822/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$383
• Net cashflow: $1,136/mo
• Annual: $13,636/yr
• Cap rate: 33.62%
• Cash-on-cash: 97.60%
• DSCR: 5.34
• 1% rule: 3.65%
• Cash to close: $13,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($345 loan paydown + $4k appreciation (8.3% local appreciation)).
• Location reads 62/100 on livability (#445 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, employment F.
• Sampson County Schools (rural): math 40% / reading 41% proficiency, ranked #114 of 178 in NC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Roseboro Elementary (math 27% / reading 32%, grade F, #975 of 1,410 statewide, top 71%, 387 students, 99% FRL); Roseboro-Salemburg Middle (math 24% / reading 32%, grade F, #360 of 475 statewide, top 77%, 406 students, 99% FRL); Lakewood High (math 72% / reading 42%, grade C, #248 of 535 statewide, top 48%, 479 students, 99% FRL) — zoned schools average 99% FRL vs 74% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 42 active listings in the ZIP; 189 units permitted in Sampson County in 2024 (0 in 5+ unit buildings).
• Sampson County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (8.3% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 33.6% vs local median 7.6% in Roseboro — 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.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.