4845 Monticello Ave

Hope Mills, NC 28348

$249,900F

4 bd · 2.0 ba · 1,813 sqft · Built 2026 · Land · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,844/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$416
• HOA: −$0
• Vac / Maint / Mgmt: −$387
• Net cashflow: $-270/mo
• Annual: $-3,242/yr
• Cap rate: 5.00%
• Cash-on-cash: -4.63%
• DSCR: 0.79
• 1% rule: 0.74%
• Cash to close: $69,972

Investor read

• This is a 4-bed/2.0-bath land listed at $250k.
• At list price, monthly cash flow is $-270 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (26.2% below list).
• It's been on market 68 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $184k (26.2% 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 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: Gallberry Farm Elementary (math 36% / reading 41%, grade F, #750 of 1,410 statewide, top 54%, 908 students, 100% FRL) — zoned schools average 100% FRL vs 55% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 317 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• Current owner paid $6k; list at $250k implies a 4065% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 78% 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.
• This rent runs 33% of the median local income ($66k/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?
• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• 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?
• 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.