101 Silhouette Dr

Greensboro, NC 27405

$187,000D+

3 bd · 2.5 ba · 1,526 sqft · Built 2008 · Townhouse · Pending · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,685/mo
• Mortgage (P&I): −$981
• Tax + insurance: −$244
• HOA: −$133
• Vac / Maint / Mgmt: −$354
• Net cashflow: $-26/mo
• Annual: $-309/yr
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• 1% rule: 0.90%
• Cash to close: $52,360

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $187k.
• At list price, monthly cash flow is $-26 ($-309/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (9.9% below list).
• It's been on market 76 days — a 6% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $169k (9.9% 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 81/100 on livability (#12 in NC, #1,335 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rankin Elementary (math 26% / reading 24%, grade F, #1,101 of 1,410 statewide, top 79%, 726 students, 100% FRL); Eastern Guilford Middle (math 26% / reading 38%, grade F, #317 of 475 statewide, top 68%, 980 students, 75% FRL); Eastern Guilford High (math 25% / reading 37%, grade F, #454 of 535 statewide, top 85%, 1,198 students, 67% FRL) — zoned schools average 81% FRL vs 52% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 42% district-wide (-13 pts) — the specific schools serving this property underperform the Guilford County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.8%/yr); 386 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 3,843 units permitted in Guilford County in 2024 (2,397 in 5+ unit buildings).
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.7% in Greensboro — 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 43% of the median local income ($47k/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 76 days. Have you received any prior offers? Is the seller open to a 10% 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.
• 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.