4130 Mountainview St

McAdenville, NC 28056

$258,400D

3 bd · 2.0 ba · 1,504 sqft · Built 2007 · Manufactured · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,114/mo
• Mortgage (P&I): −$1,355
• Tax + insurance: −$268
• HOA: −$0
• Vac / Maint / Mgmt: −$444
• Net cashflow: $47/mo
• Annual: $567/yr
• Cap rate: 6.51%
• Cash-on-cash: 0.78%
• DSCR: 1.03
• 1% rule: 0.82%
• Cash to close: $72,352

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $258k.
• At list price, monthly cash flow is $47 ($567/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 $211k (18.2% below list).
• It's been on market 72 days — a 6% lower offer ($243k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $211k (18.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#320 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Gaston County Schools (suburban): math 44% / reading 42% proficiency, ranked #93 of 178 in NC (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Belmont Elementary (math 52% / reading 52%, grade C-, #354 of 1,410 statewide, top 28%, 327 students, 99% FRL); Stanley Middle (math 49% / reading 51%, grade C, #113 of 475 statewide, top 25%, 670 students, 57% FRL); East Gaston High (math 72% / reading 60%, grade B, #154 of 535 statewide, top 29%, 883 students, 48% FRL) — zoned schools average 68% FRL vs 37% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 56% at this address vs 43% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Gaston County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.9%/yr); 361 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).
• Gaston County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $98k; list at $258k implies a 162% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: 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

• It's been on market 72 days. Have you received any prior offers? Is the seller open to a 18% 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.
• 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.