3 bd · 1.5 ba ·
1,456 sqft ·
Built 1935
· SingleFamily
· Active
· 229 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,538/mo
Mortgage (P&I)
−$996
Tax + insurance
−$161
HOA
−$0
Vac / Maint / Mgmt
−$323
Net cashflow
$58/mo
Annual
$694/yr
Cap rate
6.66%
Cash-on-cash
1.30%
DSCR
1.06
1% rule
0.81%
Cash to close
$53,172
Investor read
This is a 3-bed/1.5-bath single-family listed at $190k.
At list price, monthly cash flow is $58 ($694/yr) — positive.
The deal already cash-flows at list — no discount required.
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (19.0% below list).
It's been on market 229 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $154k (19.0% below list) — sets the bar for 1% rule.
Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
Location reads 63/100 on livability (#390 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, commute F, employment F.
Harnett County Schools (rural): math 31% / reading 39% proficiency, ranked #130 of 178 in NC (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Triton High (math 41% / reading 49%, grade D-, #350 of 535 statewide, top 66%, 1,287 students, 63% FRL).
Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
Market conditions: 339 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).
Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
2 sale attempts since 4y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
Current owner paid $66k; list at $190k implies a 188% gain — meaningful room to come down on a strong offer.
Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 6.7% vs local median 4.1% in Dunn — 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.
This rent runs 35% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.
Questions for listing agent
It's been on market 229 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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.
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· Data 1 week agocashflowre.app · 2026-05-29