25 Summer Place Dr

Maggie Valley, NC 28785

$75,900B+

2 bd · 1.5 ba · 404 sqft · Built 1995 · SingleFamily · Active · 310 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,197/mo
• Mortgage (P&I): −$398
• Tax + insurance: −$587
• HOA: −$8
• Vac / Maint / Mgmt: −$251
• Net cashflow: $-47/mo
• Annual: $-563/yr
• Cap rate: 12.83%
• Cash-on-cash: 23.35%
• DSCR: 2.04
• 1% rule: 1.58%
• Cash to close: $21,252

Investor read

• This is a 2-bed/1.5-bath single-family listed at $76k.
• At list price, monthly cash flow is $-47 ($-563/yr) — negative.
• To cash-flow at today's rent, offer at most $69k (9.0% below list).
• Meets the 1% rule at list price ($1k rent vs $76k).
• It's been on market 310 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $525 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 51/100 on livability (#701 in NC) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A; Watch: crime F, amenities F, commute F.
• Haywood County Schools (suburban): math 55% / reading 53% proficiency, ranked #50 of 178 in NC (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jonathan Valley Elementary (math 52% / reading 47%, grade D, #417 of 1,410 statewide, top 32%, 378 students, 99% FRL); Waynesville Middle (math 49% / reading 54%, grade C, #103 of 475 statewide, top 22%, 720 students, 62% FRL); Tuscola High (math 57% / reading 60%, grade C, #235 of 535 statewide, top 45%, 917 students, 49% FRL) — zoned schools average 70% FRL vs 49% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $460/mo.
• Market conditions: 287 active listings in the ZIP; 537 units permitted in Haywood County in 2024 (150 in 5+ unit buildings).
• 5 sale attempts since 10y ago; this cycle's ask has dropped $44k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $76k implies a 69% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.8% vs local median 2.3% in Maggie Valley — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 310 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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?