660 Mountain Top Rd

Marble, NC 28905

$75,000A-

3 bd · 2.0 ba · 1,056 sqft · Built 1985 · SingleFamily · Pending · 313 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,043/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$55
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $376/mo
• Annual: $4,510/yr
• Cap rate: 12.31%
• Cash-on-cash: 21.48%
• DSCR: 1.96
• 1% rule: 1.39%
• Cash to close: $21,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 313 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($519 loan paydown + $1k appreciation (1.8% local appreciation)).
• Location reads 60/100 on livability (#509 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Cherokee County Schools (rural): math 42% / reading 47% proficiency, ranked #90 of 178 in NC (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 232 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• Cherokee County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts; this cycle's ask has dropped $50k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $75k implies a 88% gain — meaningful room to come down on a strong offer.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.3% vs local median 2.4% in Marble — 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 313 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 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.