465 Whitehead Rd

Enfield, NC 27823

$169,900D

4 bd · 2.0 ba · 2,055 sqft · Built 1984 · SingleFamily · Active · 467 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,319/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$277
• Net cashflow: $-42/mo
• Annual: $-500/yr
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• 1% rule: 0.78%
• Cash to close: $47,572

Investor read

• This is a 4-bed/2.0-bath single-family listed at $170k.
• At list price, monthly cash flow is $-42 ($-500/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (22.4% below list).
• It's been on market 467 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (22.4% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (5.8% local appreciation)).
• Location reads 59/100 on livability (#556 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A, crime B; Watch: amenities F, commute F, employment F.
• Halifax County Schools (rural): math 6% / reading 24% proficiency, ranked #177 of 178 in NC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Inborden Elementary S.T.E.A.M. Academy (math 12% / reading 17%, grade F, #1,331 of 1,410 statewide, top 96%, 206 students, 98% FRL); Enfield Middle S.T.E.A.M. Academy (math 2% / reading 15%, grade F, #475 of 475 statewide, top 100%, 210 students, 99% FRL); Southeast Halifax Collegiate Prep Academ (math 5% / reading 34%, grade F, #492 of 535 statewide, top 93%, 196 students, 98% FRL) — zoned schools average 99% FRL vs 82% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 55 units permitted in Halifax County in 2024 (0 in 5+ unit buildings).
• Halifax County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 11 sale attempts since 9y ago; this cycle's ask has dropped $60k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; list at $170k implies a 81% gain — meaningful room to come down on a strong offer.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 73% 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

• 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 467 days. Have you received any prior offers? Is the seller open to a 22% 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 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?
• 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.
• 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.