2481 Zims Trl NE

Bolivia, NC 28422

$131,500B-

3 bd · 2.0 ba · 1,152 sqft · Built 2007 · Manufactured · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,162/mo
• Mortgage (P&I): −$690
• Tax + insurance: −$170
• HOA: −$0
• Vac / Maint / Mgmt: −$454
• Net cashflow: $848/mo
• Annual: $10,178/yr
• Cap rate: 14.64%
• Cash-on-cash: 29.81%
• DSCR: 2.33
• 1% rule: 1.64%
• Cash to close: $36,820

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $132k.
• At list price, monthly cash flow is $848 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $132k).
• It's been on market 94 days — a 9% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $909 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#549 in NC) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, cost of living B; Watch: amenities F, commute F, employment F.
• Brunswick County Schools (rural): math 45% / reading 47% proficiency, ranked #82 of 178 in NC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Supply Elementary (math 46% / reading 39%, grade F, #625 of 1,410 statewide, top 45%, 539 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 students, 100% FRL) — zoned schools average 99% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 569 active listings in the ZIP; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.6% vs local median 4.8% in Bolivia — 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.
• This rent runs 37% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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?
• 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?
• 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.