543 Salisbury St

Wadesboro, NC 28170

$100,000A-

4 bd · 1.0 ba · 1,500 sqft · Built 1935 · SingleFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,628/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$342
• Net cashflow: $679/mo
• Annual: $8,151/yr
• Cap rate: 14.44%
• Cash-on-cash: 29.11%
• DSCR: 2.30
• 1% rule: 1.63%
• Cash to close: $28,000

Investor read

• This is a 4-bed/1.0-bath single-family listed at $100k. Condition is rated fair.
• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 30 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 41/100 on livability (#728 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, crime F, amenities F.
• Anson County Schools (rural): math 20% / reading 32% proficiency, ranked #159 of 178 in NC (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wadesboro Primary (math 5% / reading 5%, grade F, #1,405 of 1,410 statewide, top 100%, 290 students, 99% FRL); Anson Middle (math 16% / reading 31%, grade F, #402 of 475 statewide, top 85%, 701 students, 100% FRL); Anson High School (math 22% / reading 22%, grade F, #484 of 535 statewide, top 91%, 655 students, 98% FRL) — zoned schools average 99% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 100 active listings in the ZIP; lower-income renter base — watch delinquency; 55 units permitted in Anson County in 2024 (0 in 5+ unit buildings).
• Anson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.4% vs local median 5.0% in Wadesboro — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1935 — 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?
• 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.
• 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)

• Minor: Kitchen cabinets — Light wear and tear, possibly from normal use.
• Minor: Bathtub and sink fixtures — Signs of wear, possibly from normal use.
• Moderate: Hardwood flooring — Worn appearance, may need refinishing or replacement.