6330 Nc 561

Centerville, NC 27549

$174,900D

3 bd · 2.0 ba · 980 sqft · Built 2004 · Manufactured · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,526/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$292
• HOA: −$0
• Vac / Maint / Mgmt: −$321
• Net cashflow: $-3/mo
• Annual: $-35/yr
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• 1% rule: 0.87%
• Cash to close: $48,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $175k. Condition is rated excellent.
• At list price, monthly cash flow is $-3 ($-35/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (12.7% below list).
• It's been on market 27 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $153k (12.7% 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 $5k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#280 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Franklin County Schools (rural): math 34% / reading 37% proficiency, ranked #128 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Terrell Lane Middle (math 26% / reading 34%, grade F, #335 of 475 statewide, top 72%, 395 students, 79% FRL) — zoned schools average 79% FRL vs 54% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 441 active listings in the ZIP; 948 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

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?
• 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 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?
• 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.
• 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.