267 Uphill Ln

Wilkesboro, NC 28606

$209,000C

3 bd · 2.0 ba · 1,720 sqft · Built 1998 · Manufactured · Active · 227 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,052/mo
• Mortgage (P&I): −$1,096
• Tax + insurance: −$179
• HOA: −$0
• Vac / Maint / Mgmt: −$431
• Net cashflow: $347/mo
• Annual: $4,159/yr
• Cap rate: 8.28%
• Cash-on-cash: 7.11%
• DSCR: 1.32
• 1% rule: 0.98%
• Cash to close: $58,520

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $209k.
• At list price, monthly cash flow is $347 ($4k/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 $205k (1.8% below list).
• It's been on market 227 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $184k (12.0% below list) — sets the bar for market timing.
• In year one you build about $13k of equity ($1k loan paydown + $11k appreciation (5.3% local appreciation)).
• Location reads 69/100 on livability (#166 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools D+, employment D, crime F.
• Wilkes County Schools (rural): math 55% / reading 50% proficiency, ranked #59 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 134 units permitted in Wilkes County in 2024 (0 in 5+ unit buildings).
• Wilkes County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $41k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 8.3% vs local median 2.4% in Wilkesboro — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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.