292 Sand Ridge Rd

Beulaville, NC 28518

$237,000D-

3 bd · 2.0 ba · 1,726 sqft · Built 2024 · SingleFamily · Active · 207 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,795/mo
• Mortgage (P&I): −$1,243
• Tax + insurance: −$395
• HOA: −$0
• Vac / Maint / Mgmt: −$377
• Net cashflow: $-219/mo
• Annual: $-2,633/yr
• Cap rate: 5.18%
• Cash-on-cash: -3.97%
• DSCR: 0.82
• 1% rule: 0.76%
• Cash to close: $66,360

Investor read

• This is a 3-bed/2.0-bath single-family listed at $237k.
• At list price, monthly cash flow is $-219 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (24.2% below list).
• It's been on market 207 days — a 12% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (24.2% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($2k loan paydown + $9k appreciation (3.7% local appreciation)).
• Location reads 61/100 on livability (#503 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Duplin County Schools (rural): math 23% / reading 32% proficiency, ranked #153 of 178 in NC (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Beulaville Elementary (math 28% / reading 37%, grade F, #897 of 1,410 statewide, top 64%, 822 students, 100% FRL); East Duplin High (math 47% / reading 47%, grade D-, #334 of 535 statewide, top 64%, 861 students, 100% FRL) — zoned schools average 100% FRL vs 74% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 40% at this address vs 28% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Duplin County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 54 active listings in the ZIP; 134 units permitted in Duplin County in 2024 (0 in 5+ unit buildings).
• Duplin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y ago; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 207 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.