301 N Broad St

Roseboro, NC 28382

$198,900C-

3 bd · 2.0 ba · 2,213 sqft · Built 1912 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,869/mo
• Mortgage (P&I): −$1,043
• Tax + insurance: −$164
• HOA: −$0
• Vac / Maint / Mgmt: −$392
• Net cashflow: $269/mo
• Annual: $3,234/yr
• Cap rate: 7.92%
• Cash-on-cash: 5.81%
• DSCR: 1.26
• 1% rule: 0.94%
• Cash to close: $55,692

Investor read

• This is a 3-bed/2.0-bath single-family listed at $199k.
• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (6.0% below list).
• It's been on market 17 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $187k (6.0% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (8.3% local appreciation)).
• Location reads 62/100 on livability (#445 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, employment F.
• Sampson County Schools (rural): math 40% / reading 41% proficiency, ranked #114 of 178 in NC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Roseboro Elementary (math 27% / reading 32%, grade F, #975 of 1,410 statewide, top 71%, 387 students, 99% FRL); Roseboro-Salemburg Middle (math 24% / reading 32%, grade F, #360 of 475 statewide, top 77%, 406 students, 99% FRL); Lakewood High (math 72% / reading 42%, grade C, #248 of 535 statewide, top 48%, 479 students, 99% FRL) — zoned schools average 99% FRL vs 74% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 42 active listings in the ZIP; 189 units permitted in Sampson County in 2024 (0 in 5+ unit buildings).
• Sampson County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $92k; list at $199k implies a 116% gain — meaningful room to come down on a strong offer.
• At projected returns (8.3% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% 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

• Built in 1912 — 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 D-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.