400 North Church St

Jackson, NC 27845

$139,000F

3 bd · 2.0 ba · 930 sqft · Built 1908 · SingleFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $891/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$187
• Net cashflow: $-153/mo
• Annual: $-1,841/yr
• Cap rate: 4.97%
• Cash-on-cash: -4.73%
• DSCR: 0.79
• 1% rule: 0.64%
• Cash to close: $38,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $139k.
• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (19.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (35.9% below list).
• It's been on market 58 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (35.9% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($961 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#474 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety 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: Central Elementary (math 32% / reading 17%, grade F, #1,112 of 1,410 statewide, top 82%, 275 students, 99% FRL); Conway Middle (math 12% / reading 22%, grade F, #447 of 475 statewide, top 94%, 283 students, 99% FRL); 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.
• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 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.
• 2 sale attempts 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.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 75% 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.

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 58 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
• Built in 1908 — 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?
• 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.