3 bd · 2.5 ba ·
1,792 sqft ·
Built —
· Townhouse
· Active
· 340 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$2,172/mo
Mortgage (P&I)
−$1,287
Tax + insurance
−$409
HOA
−$0
Vac / Maint / Mgmt
−$456
Net cashflow
$20/mo
Annual
$235/yr
Cap rate
6.39%
Cash-on-cash
0.34%
DSCR
1.02
1% rule
0.88%
Cash to close
$68,741
Investor read
This is a 3-bed/2.5-bath townhouse listed at $236k.
At list price, monthly cash flow is $20 ($235/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 $217k (7.9% below list).
It's been on market 340 days — a 12% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $208k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
Location reads 73/100 on livability (#69 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D, commute F.
Harnett County Schools (rural): math 31% / reading 39% proficiency, ranked #130 of 178 in NC (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Angier Elementary (math 21% / reading 22%, grade F, #1,218 of 1,410 statewide, top 87%, 356 students, 80% FRL); Harnett Central Middle (math 25% / reading 38%, grade F, #323 of 475 statewide, top 68%, 1,024 students, 63% FRL); Harnett Central High (math 43% / reading 51%, grade D-, #334 of 535 statewide, top 64%, 1,474 students, 56% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
Market conditions: Rents rising (+1.5%/yr); 662 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).
Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
Cap rate 6.4% vs local median 3.9% in Angier — 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 36% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.
Questions for listing agent
It's been on market 340 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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.
CashFlowRE · CFR-MK2SGX91F0H9B3
· Data 2 weeks agocashflowre.app · 2026-05-29