122 Hampton Dr

Wrightsboro, NC 28429

$249,900C

3 bd · 1.5 ba · 1,167 sqft · Built 1992 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,217/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$465
• Net cashflow: $290/mo
• Annual: $3,476/yr
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• 1% rule: 0.89%
• Cash to close: $69,972

Investor read

• This is a 3-bed/1.5-bath single-family listed at $250k.
• At list price, monthly cash flow is $290 ($3k/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 $222k (11.3% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $222k (11.3% 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 $7k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#467 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• New Hanover County Schools (urban): math 48% / reading 53% proficiency, ranked #61 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wrightsboro Elementary (math 21% / reading 29%, grade F, #1,101 of 1,410 statewide, top 79%, 522 students, 98% FRL); Holly Shelter Middle (math 39% / reading 43%, grade F, #209 of 475 statewide, top 45%, 858 students, 100% FRL); Emsley A Laney High (math 62% / reading 63%, grade B-, #179 of 535 statewide, top 34%, 2,220 students, 42% FRL) — zoned schools average 80% FRL vs 42% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 185 active listings in the ZIP; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).
• New Hanover County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $82k; list at $250k implies a 207% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.7% vs local median 2.6% in Wrightsboro — 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 37% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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.