519 Church St

Fairfield, NC 27826

$89,900B+

4 bd · 2.0 ba · 2,894 sqft · Built 1869 · SingleFamily · Pending · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,382/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$598
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $22/mo
• Annual: $265/yr
• Cap rate: 12.28%
• Cash-on-cash: 21.39%
• DSCR: 1.95
• 1% rule: 1.54%
• Cash to close: $25,172

Investor read

• This is a 4-bed/2.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $22 ($265/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 106 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($622 loan paydown + $4k appreciation (4.4% local appreciation)).
• Location reads 52/100 on livability (#692 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, employment D, schools F.
• Hyde County Schools (rural): math 36% / reading 47% proficiency, ranked #107 of 178 in NC (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $427/mo; built in 1869 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 23 units permitted in Hyde County in 2024 (10 in 5+ unit buildings).
• Hyde County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% 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 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1869 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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?
• 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.