37 Somerset Church Rd

Roxboro, NC 27573

$249,900F

4 bd · 2.0 ba · 1,512 sqft · Built 2026 · Manufactured · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,812/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$416
• HOA: −$0
• Vac / Maint / Mgmt: −$380
• Net cashflow: $-296/mo
• Annual: $-3,547/yr
• Cap rate: 4.87%
• Cash-on-cash: -5.07%
• DSCR: 0.77
• 1% rule: 0.73%
• Cash to close: $69,972

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $250k.
• At list price, monthly cash flow is $-296 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (17.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (27.5% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $181k (27.5% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($2k loan paydown + $18k appreciation (7.0% local appreciation)).
• Location reads 55/100 on livability (#649 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Person County Schools (rural): math 39% / reading 42% proficiency, ranked #110 of 178 in NC (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Person High (math 45% / reading 44%, grade F, #352 of 535 statewide, top 68%, 1,079 students, 60% FRL).
• Market conditions: 99 active listings in the ZIP; 113 units permitted in Person County in 2024 (0 in 5+ unit buildings).
• Person County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→17/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?
• 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 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.
• 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.