337 Hillwood Dr

Barbecue, NC 27332

$299,990F

4 bd · 2.5 ba · 1,774 sqft · Built 2026 · Land · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,257/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$500
• HOA: −$30
• Vac / Maint / Mgmt: −$474
• Net cashflow: $-320/mo
• Annual: $-3,843/yr
• Cap rate: 5.01%
• Cash-on-cash: -4.57%
• DSCR: 0.80
• 1% rule: 0.75%
• Cash to close: $83,997

Investor read

• This is a 4-bed/2.5-bath land listed at $300k.
• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (24.8% below list).
• It's been on market 30 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $226k (24.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• 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: Highland Elementary (math 37% / reading 42%, grade F, #694 of 1,410 statewide, top 53%, 891 students, 53% FRL); Highland Middle (math 34% / reading 41%, grade F, #256 of 475 statewide, top 55%, 875 students, 64% FRL); Western Harnett High (math 57% / reading 58%, grade C, #245 of 535 statewide, top 46%, 1,386 students, 60% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 462 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• This rent runs 35% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.