102 Pinesage Dr

Taylortown, NC 27376

$285,000C

3 bd · 1.5 ba · 1,260 sqft · Built 1991 · SingleFamily · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,853/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$272
• HOA: −$0
• Vac / Maint / Mgmt: −$599
• Net cashflow: $487/mo
• Annual: $5,846/yr
• Cap rate: 8.34%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• 1% rule: 1.00%
• Cash to close: $79,800

Investor read

• This is a 3-bed/1.5-bath single-family listed at $285k.
• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• It's been on market 21 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $281k (1.5% 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 $9k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#356 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D, 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; 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.
• 4 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $188k; list at $285k implies a 52% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 59% 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

• 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.