325 Bluemont Rd

Toast, NC 27030

$135,000C+

2 bd · 1.5 ba · 1,176 sqft · Built 1960 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,300/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $211/mo
• Annual: $2,532/yr
• Cap rate: 8.17%
• Cash-on-cash: 6.70%
• DSCR: 1.30
• 1% rule: 0.96%
• Cash to close: $37,800

Investor read

• This is a 2-bed/1.5-bath single-family listed at $135k.
• At list price, monthly cash flow is $211 ($3k/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 $130k (3.7% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $130k (3.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#485 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-; Watch: amenities F, commute F, employment F.
• Surry County Schools (rural): math 52% / reading 52% proficiency, ranked #60 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Franklin Elementary (math 54% / reading 50%, grade C-, #354 of 1,410 statewide, top 28%, 456 students, 75% FRL); Meadowview Magnet Middle (math 48% / reading 49%, grade C-, #127 of 475 statewide, top 28%, 349 students, 74% FRL); North Surry High (math 57% / reading 48%, grade C-, #287 of 535 statewide, top 54%, 843 students, 62% FRL) — zoned schools average 71% FRL vs 55% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 215 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 243 units permitted in Surry County in 2024 (0 in 5+ unit buildings).
• Surry County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 34% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1960 — 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?
• 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.