51 Oak St

Brunswick, NC 28424

$130,000B

3 bd · 2.0 ba · 1,326 sqft · Built 1924 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,700/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $445/mo
• Annual: $5,335/yr
• Cap rate: 10.40%
• Cash-on-cash: 14.66%
• DSCR: 1.65
• 1% rule: 1.31%
• Cash to close: $36,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $130k. Condition is rated fair.
• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 50 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($899 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 57/100 on livability (#611 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A-; Watch: health & safety C-, housing D+, amenities F.
• Whiteville City Schools (town): math 49% / reading 46% proficiency, ranked #81 of 178 in NC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Whiteville High (math 57% / reading 57%, grade C, #248 of 535 statewide, top 48%, 662 students, 99% FRL) — zoned schools average 99% FRL vs 74% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 24 units permitted in Columbus County in 2024 (0 in 5+ unit buildings).
• Columbus County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $40k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $130k implies a 104% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen backsplash — Dated and needs updating
• Major: bathroom fixtures — Standard but outdated design