810 S Commerce St

Aulander, NC 27805

$60,000A-

2 bd · 1.0 ba · 1,008 sqft · Built 1957 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $946/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$109
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $324/mo
• Annual: $3,886/yr
• Cap rate: 12.77%
• Cash-on-cash: 23.13%
• DSCR: 2.03
• 1% rule: 1.58%
• Cash to close: $16,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($946 rent vs $60k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($415 loan paydown + $1k appreciation (2.5% local appreciation)).
• Location reads 56/100 on livability (#623 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: schools F, crime F, amenities F.
• Bertie County Schools (rural): math 17% / reading 31% proficiency, ranked #165 of 178 in NC (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 46 units permitted in Bertie County in 2024 (0 in 5+ unit buildings).
• Bertie County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $60k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; moderate wildfire risk; 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 1957 — 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.