300 Taylor Rd

Stanley, NC 28164

$698,500F

4 bd · 2.0 ba · 1,800 sqft · Built 1987 · MultiFamily · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,190/mo
• Mortgage (P&I): −$3,663
• Tax + insurance: −$450
• HOA: −$0
• Vac / Maint / Mgmt: −$880
• Net cashflow: $-803/mo
• Annual: $-9,634/yr
• Cap rate: 4.91%
• Cash-on-cash: -4.93%
• DSCR: 0.78
• 1% rule: 0.60%
• Cash to close: $195,580

Investor read

• This is a 4 × 1-bed/?-bath units multifamily listed at $698k.
• At list price, monthly cash flow is $-803 ($-10k/yr) — negative. Per door: $-201/mo.
• To cash-flow at today's rent, offer at most $557k (20.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $419k (40.0% below list).
• It's been on market 91 days — a 9% lower offer ($636k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $419k (40.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#298 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D, amenities F, commute F.
• Gaston County Schools (suburban): math 44% / reading 42% proficiency, ranked #93 of 178 in NC (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 163 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).
• Gaston County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% vs local median 3.6% in Stanley — 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

• 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?
• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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?
• 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?