1717 Ennismore Rd

Hope Mills, NC 28348

$339,900D

5 bd · 4.0 ba · 2,536 sqft · Built 2022 · SingleFamily · Pending · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,609/mo
• Mortgage (P&I): −$1,782
• Tax + insurance: −$352
• HOA: −$25
• Vac / Maint / Mgmt: −$548
• Net cashflow: $-99/mo
• Annual: $-1,189/yr
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• 1% rule: 0.77%
• Cash to close: $95,172

Investor read

• This is a 5-bed/4.0-bath single-family listed at $340k.
• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $322k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (23.3% below list).
• It's been on market 72 days — a 6% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $261k (23.3% 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 $10k 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 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 50% at this address vs 36% district-wide (+14 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); 317 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 4.8% in Hope Mills — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $2,609/mo this rent would consume 47% of the median local household income ($66k/yr) (locally 746% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 72 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?