108 Marshall Ct

Moyock, NC 27958

$435,000D+

4 bd · 2.5 ba · 2,506 sqft · Built 1992 · SingleFamily · Under Contract · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,313/mo
• Mortgage (P&I): −$2,281
• Tax + insurance: −$412
• HOA: −$0
• Vac / Maint / Mgmt: −$696
• Net cashflow: $-76/mo
• Annual: $-917/yr
• Cap rate: 6.27%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• 1% rule: 0.76%
• Cash to close: $121,800

Investor read

• This is a 4-bed/2.5-bath single-family listed at $435k.
• At list price, monthly cash flow is $-76 ($-917/yr) — negative.
• To cash-flow at today's rent, offer at most $421k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $331k (23.8% below list).
• It's been on market 24 days — a 2% lower offer ($428k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $331k (23.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#313 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Currituck County Schools (rural): math 45% / reading 51% proficiency, ranked #67 of 178 in NC (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shawboro Elementary School (math 54% / reading 53%, grade C, #335 of 1,410 statewide, top 24%, 606 students, 30% FRL); Moyock Middle (math 39% / reading 51%, grade D, #160 of 475 statewide, top 35%, 621 students, 24% FRL); Currituck County High (math 52% / reading 64%, grade C, #243 of 535 statewide, top 46%, 1,057 students, 30% FRL) — zoned schools at 28% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 298 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 429 units permitted in Currituck County in 2024 (0 in 5+ unit buildings).
• Currituck County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 9y 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.
• Current owner paid $242k; list at $435k implies a 80% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; severe wind risk, 94% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 3.6% in Moyock — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 35% of the median local income ($112k/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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.