3 bd · 2.0 ba ·
1,216 sqft ·
Built 2025
· Manufactured
· Active
· 236 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,577/mo
Mortgage (P&I)
−$367
Tax + insurance
−$117
HOA
−$0
Vac / Maint / Mgmt
−$331
Net cashflow
$762/mo
Annual
$9,142/yr
Cap rate
19.35%
Cash-on-cash
46.64%
DSCR
3.08
1% rule
2.25%
Cash to close
$19,600
Investor read
This is a 3-bed/2.0-bath manufactured listed at $70k.
At list price, monthly cash flow is $762 ($9k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $70k).
It's been on market 236 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
Location reads 64/100 on livability (#359 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools F, amenities F.
Burke County Schools (rural): math 43% / reading 47% proficiency, ranked #89 of 178 in NC (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Market conditions: 431 active listings in the ZIP; 422 units permitted in Burke County in 2024 (94 in 5+ unit buildings).
Burke County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 19.4% vs local median 3.5% in Salem — 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 33% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.
Questions for listing agent
It's been on market 236 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?
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-NBM8AVE0MWCDDD
· Data 1 week agocashflowre.app · 2026-05-29