335 Plank Rd

Ansonville, NC 28170

$178,500D+

2 bd · 1.5 ba · 1,116 sqft · Built 1960 · SingleFamily · Active · 273 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,643/mo
• Mortgage (P&I): −$936
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$345
• Net cashflow: $196/mo
• Annual: $2,349/yr
• Cap rate: 7.61%
• Cash-on-cash: 4.70%
• DSCR: 1.21
• 1% rule: 0.92%
• Cash to close: $49,980

Investor read

• This is a 2-bed/1.5-bath single-family listed at $178k.
• At list price, monthly cash flow is $196 ($2k/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 $164k (8.0% below list).
• It's been on market 273 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $157k (12.0% below list) — sets the bar for market timing.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 57/100 on livability (#586 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D, crime F.
• Anson County Schools (rural): math 20% / reading 32% proficiency, ranked #159 of 178 in NC (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 85 active listings in the ZIP; 55 units permitted in Anson County in 2024 (0 in 5+ unit buildings).
• Anson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $178k implies a 225% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 48% 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

• It's been on market 273 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.