133 Westerly Way

Lillington, NC 27546

$319,490F

5 bd · 3.0 ba · 2,511 sqft · Built 2026 · SingleFamily · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,285/mo
• Mortgage (P&I): −$1,675
• Tax + insurance: −$532
• HOA: −$67
• Vac / Maint / Mgmt: −$480
• Net cashflow: $-470/mo
• Annual: $-5,638/yr
• Cap rate: 4.53%
• Cash-on-cash: -6.30%
• DSCR: 0.72
• 1% rule: 0.72%
• Cash to close: $89,457

Investor read

• This is a 5-bed/3.0-bath single-family listed at $319k. Condition is rated good.
• At list price, monthly cash flow is $-470 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (28.5% below list).
• It's been on market 57 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $228k (28.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#101 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Harnett County Schools (rural): math 31% / reading 39% proficiency, ranked #130 of 178 in NC (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lillington-Shawtown Elementary (math 23% / reading 30%, grade F, #1,073 of 1,410 statewide, top 77%, 694 students, 100% FRL); Harnett Central Middle (math 25% / reading 38%, grade F, #323 of 475 statewide, top 68%, 1,024 students, 63% FRL); Harnett Central High (math 43% / reading 51%, grade D-, #334 of 535 statewide, top 64%, 1,474 students, 56% FRL) — zoned schools average 73% FRL vs 51% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1217 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).
• Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 4.5% vs local median 3.7% in Lillington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 41% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 57 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.