180 Dusty Dr

Candor, NC 27229

$68,000B-

2 bd · 1.0 ba · 658 sqft · Built 1994 · Manufactured · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $826/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$173
• Net cashflow: $182/mo
• Annual: $2,187/yr
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• 1% rule: 1.21%
• Cash to close: $19,040

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $68k.
• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($826 rent vs $68k).
• It's been on market 72 days — a 6% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (6.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($470 loan paydown + $3k appreciation (4.3% local appreciation)).
• Location reads 65/100 on livability (#301 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, employment D+, amenities F.
• Montgomery County Schools (rural): math 29% / reading 34% proficiency, ranked #143 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Candor Elementary (math 17% / reading 27%, grade F, #1,190 of 1,410 statewide, top 86%, 374 students, 96% FRL); East Middle (math 35% / reading 32%, grade F, #299 of 475 statewide, top 64%, 451 students, 85% FRL); Montgomery County Early College (math 95% / reading 92%, grade A+, #19 of 535 statewide, top 4%, 272 students, 57% FRL).
• Zoned-school proficiency averages 50% at this address vs 32% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Montgomery County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 11 active listings in the ZIP; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• Montgomery County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $4k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $68k implies a 240% gain — meaningful room to come down on a strong offer.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 49% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/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 72 days. Have you received any prior offers? Is the seller open to a 6% 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?
• 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.