3766 Altamahaw Church St

Altamahaw, NC 27244

$86,000B-

3 bd · 1.0 ba · 1,481 sqft · Built 1950 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,720/mo
• Mortgage (P&I): −$451
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$361
• Net cashflow: $825/mo
• Annual: $9,900/yr
• Cap rate: 17.80%
• Cash-on-cash: 41.11%
• DSCR: 2.83
• 1% rule: 2.00%
• Cash to close: $24,080

Investor read

• This is a 3-bed/1.0-bath single-family listed at $86k.
• At list price, monthly cash flow is $825 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• It's been on market 50 days — a 3% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $83k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $595 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 49/100 on livability (#711 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Alamance-Burlington Schools (rural): math 30% / reading 40% proficiency, ranked #133 of 178 in NC (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Western Alamance Middle (math 37% / reading 45%, grade F, #209 of 475 statewide, top 45%, 822 students, 49% FRL); Western Alamance High (math 44% / reading 51%, grade D, #331 of 535 statewide, top 62%, 1,036 students, 39% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 104 active listings in the ZIP; solid renter incomes; 2,466 units permitted in Alamance County in 2024 (403 in 5+ unit buildings).
• Alamance County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $13k; list at $86k implies a 562% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.