4285 Murdocksville Rd

Pinehurst, NC 27376

$399,000D

4 bd · 2.0 ba · 1,800 sqft · Built 2019 · SingleFamily · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,950/mo
• Mortgage (P&I): −$2,092
• Tax + insurance: −$339
• HOA: −$0
• Vac / Maint / Mgmt: −$620
• Net cashflow: $-100/mo
• Annual: $-1,206/yr
• Cap rate: 5.99%
• Cash-on-cash: -1.08%
• DSCR: 0.95
• 1% rule: 0.74%
• Cash to close: $111,720

Investor read

• This is a 4-bed/2.0-bath single-family listed at $399k.
• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $381k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (26.1% below list).
• It's been on market 87 days — a 6% lower offer ($375k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $295k (26.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#60 in NC, #4,746 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, health & safety C-, amenities F.
• Moore County Schools (rural): math 48% / reading 54% proficiency, ranked #58 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Pine Elementary (math 51% / reading 58%, grade C, #302 of 1,410 statewide, top 23%, 395 students, 44% FRL); West Pine Middle (math 62% / reading 62%, grade B+, #37 of 475 statewide, top 8%, 688 students, 28% FRL); Pinecrest High (math 66% / reading 72%, grade B, #131 of 535 statewide, top 25%, 2,221 students, 34% FRL).
• Market conditions: 181 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 941 units permitted in Moore County in 2024 (0 in 5+ unit buildings).
• Moore County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wind risk, 54% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 2.2% in Pinehurst — 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

• 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 87 days. Have you received any prior offers? Is the seller open to a 26% 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.