521 Brynn Marr Rd

Jacksonville, NC 28546

$197,500D+

3 bd · 1.5 ba · 1,541 sqft · Built 1969 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,619/mo
• Mortgage (P&I): −$1,036
• Tax + insurance: −$214
• HOA: −$0
• Vac / Maint / Mgmt: −$340
• Net cashflow: $29/mo
• Annual: $346/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• 1% rule: 0.82%
• Cash to close: $55,300

Investor read

• This is a 3-bed/1.5-bath single-family listed at $198k.
• At list price, monthly cash flow is $29 ($346/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (18.0% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $162k (18.0% 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 $6k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#111 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bell Fork Elementary (math 47% / reading 37%, grade F, #633 of 1,410 statewide, top 48%, 553 students, 71% FRL); Jacksonville Commons Middle (math 39% / reading 47%, grade D-, #191 of 475 statewide, top 41%, 1,011 students, 64% FRL); Northside High (math 67% / reading 55%, grade C+, #202 of 535 statewide, top 39%, 1,097 students, 54% FRL) — zoned schools average 63% FRL vs 37% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.9%/yr); 612 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).
• Current owner paid $84k; list at $198k implies a 137% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 4.4% in Jacksonville — 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 31% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.