1729 Swamp Rd

Engelhard, NC 27824

$49,900B+

3 bd · 1.0 ba · 1,272 sqft · Built 1973 · SingleFamily · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,067/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$494
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $87/mo
• Annual: $1,049/yr
• Cap rate: 18.65%
• Cash-on-cash: 44.14%
• DSCR: 2.96
• 1% rule: 2.14%
• Cash to close: $13,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 78 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($345 loan paydown + $4k appreciation (7.2% local appreciation)).
• Location reads 57/100 on livability (#589 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools F, amenities F, commute 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.
• Market conditions: 5 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.
• 2 sale attempts 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 (7.2% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k 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→19/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 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1973 — 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?
• 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.