112 Duff St

Ranlo, NC 28054

$215,000D

3 bd · 2.0 ba · 1,350 sqft · Built 2000 · SingleFamily · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,702/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$255
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $-38/mo
• Annual: $-460/yr
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• 1% rule: 0.79%
• Cash to close: $60,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $215k.
• At list price, monthly cash flow is $-38 ($-460/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (20.8% below list).
• It's been on market 68 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $170k (20.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#88 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Gaston County Schools (suburban): math 44% / reading 42% proficiency, ranked #93 of 178 in NC (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brookside Elementary (math 34% / reading 32%, grade F, #890 of 1,410 statewide, top 64%, 502 students, 99% FRL); Holbrook Middle (math 36% / reading 36%, grade F, #273 of 475 statewide, top 58%, 777 students, 75% FRL); North Gaston High (math 49% / reading 42%, grade D-, #347 of 535 statewide, top 65%, 1,134 students, 63% FRL) — zoned schools average 79% FRL vs 37% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 183 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).
• Gaston County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 33% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 68 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.