3327 Hwy 301

Garysburg, NC 27866

$35,000B

3 bd · 1.0 ba · 1,470 sqft · Built 1963 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,226/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $727/mo
• Annual: $8,718/yr
• Cap rate: 31.20%
• Cash-on-cash: 88.96%
• DSCR: 4.96
• 1% rule: 3.50%
• Cash to close: $9,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $35k. Condition is rated poor.
• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($242 loan paydown + $2k appreciation (6.3% local appreciation)).
• Location reads 57/100 on livability (#615 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Northampton County Schools (rural): math 15% / reading 18% proficiency, ranked #176 of 178 in NC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Northampton County High School (math 2% / reading 17%, grade F, #530 of 535 statewide, top 99%, 240 students, 99% FRL) — zoned schools average 99% FRL vs 78% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 17 units permitted in Northampton County in 2024 (0 in 5+ unit buildings).
• Northampton County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1963 — 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Missing shingles
• Major: HVAC/mechanicals — Exposed subfloor, debris
• Major: exterior — Overgrown vegetation, debris
• Major: interior walls/paint — Exposed subfloor, debris
• Major: flooring — Exposed subfloor, debris