1929 Vantage Point Pl Unit F

Greensboro, NC 27407

$107,500D

2 bd · 1.0 ba · 728 sqft · Built 1969 · Condo · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,108/mo
• Mortgage (P&I): −$564
• Tax + insurance: −$113
• HOA: −$217
• Vac / Maint / Mgmt: −$233
• Net cashflow: $-19/mo
• Annual: $-222/yr
• Cap rate: 6.09%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• 1% rule: 1.03%
• Cash to close: $30,100

Investor read

• This is a 2-bed/1.0-bath condo listed at $108k.
• At list price, monthly cash flow is $-19 ($-222/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (3.0% below list).
• Meets the 1% rule at list price ($1k rent vs $108k).
• It's been on market 34 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (3.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $743 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#12 in NC, #1,335 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sedgefield Elementary (math 27% / reading 22%, grade F, #1,112 of 1,410 statewide, top 82%, 466 students, 99% FRL); Allen Middle (math 15% / reading 31%, grade F, #406 of 475 statewide, top 86%, 703 students, 100% FRL); Ben L. Smith High School (math 32% / reading 36%, grade F, #434 of 535 statewide, top 81%, 1,371 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 42% district-wide (-15 pts) — the specific schools serving this property underperform the Guilford County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.5%/yr); 223 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 10y 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.
• Current owner paid $90k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.7% in Greensboro — 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

• 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 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?