219 Peach St

South Mills, NC 27976

$309,990C+

3 bd · 2.5 ba · 1,520 sqft · Built 2026 · Townhouse · Under Contract · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,300/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$943
• HOA: −$100
• Vac / Maint / Mgmt: −$693
• Net cashflow: $-62/mo
• Annual: $-742/yr
• Cap rate: 7.70%
• Cash-on-cash: 5.04%
• DSCR: 1.22
• 1% rule: 1.06%
• Cash to close: $86,797

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $310k.
• At list price, monthly cash flow is $-62 ($-742/yr) — negative.
• To cash-flow at today's rent, offer at most $301k (2.9% below list).
• Meets the 1% rule at list price ($3k rent vs $310k).
• It's been on market 17 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $301k (2.9% below list) — sets the bar for cash-flow.
• In year one you build about $931 of equity ($2k loan paydown + $-1k appreciation (-0.4% local appreciation)).
• Location reads 57/100 on livability (#612 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Camden County Schools (rural): math 56% / reading 64% proficiency, ranked #29 of 178 in NC (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Grandy Primary (math 87% / reading 72%, grade A, #24 of 1,410 statewide, top 2%, 607 students, 32% FRL); Camden Intermediate (math 50% / reading 61%, grade B-, #76 of 475 statewide, top 16%, 440 students, 24% FRL); Camden County High (math 62% / reading 62%, grade B-, #184 of 535 statewide, top 37%, 464 students, 25% FRL) — zoned schools at 27% FRL track the district average.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 105 units permitted in Camden County in 2024 (0 in 5+ unit buildings).
• Camden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.7% vs local median 5.0% in South Mills — 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

• 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.