3345 Ginger Ln

Maiden, NC 28650

$135,000B-

3 bd · 2.0 ba · 1,064 sqft · Built 1992 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,635/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$343
• Net cashflow: $500/mo
• Annual: $5,998/yr
• Cap rate: 10.74%
• Cash-on-cash: 15.87%
• DSCR: 1.71
• 1% rule: 1.21%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $135k.
• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#84 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D, amenities F, commute F.
• Lincoln County Schools (rural): math 57% / reading 55% proficiency, ranked #42 of 178 in NC (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 142 active listings in the ZIP; 697 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $28k; list at $135k implies a 382% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.7% vs local median 3.1% in Maiden — 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 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?
• 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.