115 Stampede Dr

Love Valley, NC 28625

$235,000D+

3 bd · 2.0 ba · 1,512 sqft · Built 2000 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,815/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$381
• Net cashflow: $41/mo
• Annual: $498/yr
• Cap rate: 6.50%
• Cash-on-cash: 0.76%
• DSCR: 1.03
• 1% rule: 0.77%
• Cash to close: $65,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $235k.
• At list price, monthly cash flow is $41 ($498/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (22.8% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $181k (22.8% 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 $7k of value loss. Plan a longer hold.
• Location reads 52/100 on livability (#689 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, crime F, amenities F.
• Iredell-Statesville Schools (rural): math 53% / reading 52% proficiency, ranked #51 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Central Elementary (math 82% / reading 72%, grade A, #38 of 1,410 statewide, top 3%, 383 students, 46% FRL); The Brawley School (math 91% / reading 88%, grade A+, #2 of 475 statewide, top 0%, 639 students, 9% FRL); North Iredell High (math 37% / reading 51%, grade F, #367 of 535 statewide, top 69%, 962 students, 48% FRL) — zoned schools at 34% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 52% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Iredell-Statesville Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.7%/yr); 289 active listings in the ZIP; 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).
• Iredell County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 34% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 F 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?
• 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.
• 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.