2831 Bettis Rd

Earl, NC 28073

$110,000B-

3 bd · 1.5 ba · 1,676 sqft · Built 1963 · SingleFamily · Pending · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,297/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $319/mo
• Annual: $3,832/yr
• Cap rate: 9.78%
• Cash-on-cash: 12.44%
• DSCR: 1.55
• 1% rule: 1.18%
• Cash to close: $30,800

Investor read

• This is a 3-bed/1.5-bath single-family listed at $110k.
• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 99 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• In year one you build about $746 of equity ($761 loan paydown + $-15 appreciation (-0.0% local appreciation)).
• Location reads 63/100 on livability (#389 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Cleveland County Schools (rural): math 47% / reading 49% proficiency, ranked #76 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Township Three Elementary (math 43% / reading 34%, grade F, #750 of 1,410 statewide, top 54%, 529 students, 99% FRL); Crest High (math 61% / reading 57%, grade C+, #233 of 535 statewide, top 44%, 1,114 students, 54% FRL) — zoned schools average 77% FRL vs 59% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).
• Cleveland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-0.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.
• 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.

Questions for listing agent

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D 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?
• 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.