124 Debbie Ln

Hayesville, NC 28904

$125,000B

3 bd · 2.0 ba · 1,248 sqft · Built 1998 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,766/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$90
• HOA: −$0
• Vac / Maint / Mgmt: −$371
• Net cashflow: $649/mo
• Annual: $7,791/yr
• Cap rate: 12.53%
• Cash-on-cash: 22.26%
• DSCR: 1.99
• 1% rule: 1.41%
• Cash to close: $35,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $125k.
• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($864 loan paydown + $2k appreciation (1.2% local appreciation)).
• Location reads 67/100 on livability (#209 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: housing C-, crime F, amenities F.
• Clay County Schools (rural): math 47% / reading 50% proficiency, ranked #73 of 178 in NC (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 692 active listings in the ZIP; 143 units permitted in Clay County in 2024 (6 in 5+ unit buildings).
• Clay County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.5% vs local median 2.5% in Hayesville — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F 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.
• 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.