100 Amber Ct

Whitakers, NC 27891

$150,000D-

3 bd · 2.0 ba · 1,107 sqft · Built 2023 · Manufactured · Active · 123 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,200/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$276
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $-115/mo
• Annual: $-1,381/yr
• Cap rate: 5.37%
• Cash-on-cash: -3.29%
• DSCR: 0.85
• 1% rule: 0.80%
• Cash to close: $42,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (20.0% below list).
• It's been on market 123 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (20.0% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.9% local appreciation)).
• Location reads 63/100 on livability (#417 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Nash-Rocky Mount Schools (rural): math 20% / reading 32% proficiency, ranked #155 of 178 in NC (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: M B Hubbard Elementary (math 12% / reading 28%, grade F, #1,233 of 1,410 statewide, top 88%, 407 students, 85% FRL); Red Oak Middle (math 24% / reading 38%, grade F, #326 of 475 statewide, top 69%, 804 students, 64% FRL); Northern Nash High (math 37% / reading 41%, grade F, #402 of 535 statewide, top 75%, 1,059 students, 58% FRL).
• Market conditions: 28 active listings in the ZIP; 500 units permitted in Nash County in 2024 (0 in 5+ unit buildings).
• Nash County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $150k implies a 733% gain — meaningful room to come down on a strong offer.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 73% 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.

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 123 days. Have you received any prior offers? Is the seller open to a 20% 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 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?
• Crime grade is F 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.