121 Aden Ct

Silver City, NC 28387

$310,695F

4 bd · 2.5 ba · 1,886 sqft · Built 2026 · Land · Active · 125 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,145/mo
• Mortgage (P&I): −$1,629
• Tax + insurance: −$518
• HOA: −$0
• Vac / Maint / Mgmt: −$451
• Net cashflow: $-452/mo
• Annual: $-5,429/yr
• Cap rate: 4.55%
• Cash-on-cash: -6.24%
• DSCR: 0.72
• 1% rule: 0.69%
• Cash to close: $86,995

Investor read

• This is a 4-bed/2.5-bath land listed at $311k.
• At list price, monthly cash flow is $-452 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (31.0% below list).
• It's been on market 125 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $215k (31.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#196 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: employment D, amenities F, commute D-.
• Hoke County Schools (suburban): math 35% / reading 40% proficiency, ranked #123 of 178 in NC (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hoke County High (math 42% / reading 44%, grade F, #372 of 535 statewide, top 69%, 2,060 students, 100% FRL) — zoned schools average 100% FRL vs 57% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 210 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 685 units permitted in Hoke County in 2024 (0 in 5+ unit buildings).
• Hoke County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $42k; list at $311k implies a 631% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 34% of the median local income ($75k/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 125 days. Have you received any prior offers? Is the seller open to a 31% 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.