108 Carr St

Jonesville, NC 28642

$69,500B-

3 bd · 2.0 ba · 1,890 sqft · Built 1999 · Manufactured · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,209/mo
• Mortgage (P&I): −$364
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $499/mo
• Annual: $5,989/yr
• Cap rate: 14.91%
• Cash-on-cash: 30.78%
• DSCR: 2.37
• 1% rule: 1.74%
• Cash to close: $19,460

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $481 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#629 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime D-, amenities F.
• Yadkin County Schools (rural): math 46% / reading 46% proficiency, ranked #86 of 178 in NC (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 42 active listings in the ZIP; 132 units permitted in Yadkin County in 2024 (0 in 5+ unit buildings).
• Yadkin County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.9% vs local median 3.2% in Jonesville — 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

• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.