1422 Fitch St

Yanceyville, NC 27379

$80,000B+

2 bd · 1.0 ba · 816 sqft · Built 1967 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,235/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $482/mo
• Annual: $5,782/yr
• Cap rate: 13.52%
• Cash-on-cash: 25.81%
• DSCR: 2.15
• 1% rule: 1.54%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($553 loan paydown + $5k appreciation (5.7% local appreciation)).
• Location reads 68/100 on livability (#179 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: schools F, amenities F, commute F.
• Caswell County Schools (rural): math 24% / reading 37% proficiency, ranked #146 of 178 in NC (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 24 active listings in the ZIP; 54 units permitted in Caswell County in 2024 (0 in 5+ unit buildings).
• Caswell County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.5% vs local median 3.6% in Yanceyville — 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

• Built in 1967 — 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.
• 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?
• 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.