2707 Odom Rd

Hope Mills, NC 28348

$215,000D

3 bd · 2.0 ba · 1,568 sqft · Built 1994 · Manufactured · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,707/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$358
• Net cashflow: $22/mo
• Annual: $267/yr
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• 1% rule: 0.79%
• Cash to close: $60,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $215k.
• At list price, monthly cash flow is $22 ($267/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 $171k (20.6% below list).
• It's been on market 58 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $171k (20.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#234 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D-, amenities F, commute F.
• Cumberland County Schools (urban): math 32% / reading 41% proficiency, ranked #126 of 178 in NC (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gray'S Creek Elementary (math 43% / reading 49%, grade D-, #551 of 1,410 statewide, top 40%, 461 students, 98% FRL); Gray'S Creek Middle (math 33% / reading 48%, grade F, #215 of 475 statewide, top 46%, 1,126 students, 50% FRL); Gray'S Creek High (math 61% / reading 58%, grade C+, #216 of 535 statewide, top 43%, 1,395 students, 44% FRL).
• Zoned-school proficiency averages 49% at this address vs 36% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Cumberland County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.3%/yr); 319 active listings in the ZIP; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• Current owner paid $72k; list at $215k implies a 197% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 80% 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 6.4% vs local median 4.8% in Hope Mills — 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 31% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• 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?
• Crime grade is D 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?
• 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.