84 Stoney Ridge Loop

Maggie Valley, NC 28751

$300,000C-

2 bd · 2.0 ba · 960 sqft · Built 1986 · SingleFamily · Active · 338 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,500/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$246
• HOA: −$38
• Vac / Maint / Mgmt: −$525
• Net cashflow: $118/mo
• Annual: $1,415/yr
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• 1% rule: 0.83%
• Cash to close: $84,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $300k.
• At list price, monthly cash flow is $118 ($1k/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 $250k (16.7% below list).
• It's been on market 338 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $250k (16.7% 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 51/100 on livability (#701 in NC) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A; Watch: crime F, amenities F, commute F.
• Haywood County Schools (suburban): math 55% / reading 53% proficiency, ranked #50 of 178 in NC (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jonathan Valley Elementary (math 52% / reading 47%, grade D, #417 of 1,410 statewide, top 32%, 378 students, 99% FRL); Waynesville Middle (math 49% / reading 54%, grade C, #103 of 475 statewide, top 22%, 720 students, 62% FRL); Tuscola High (math 57% / reading 60%, grade C, #235 of 535 statewide, top 45%, 917 students, 49% FRL) — zoned schools average 70% FRL vs 49% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 243 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 537 units permitted in Haywood County in 2024 (150 in 5+ unit buildings).
• 2 sale attempts since 12y ago; this cycle's ask has dropped $49k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $300k implies a 477% gain — meaningful room to come down on a strong offer.
• Cap rate 6.8% vs local median 2.3% in Maggie Valley — 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

• It's been on market 338 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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 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.