211 E Elm St

Bladenboro, NC 28320

$145,000C-

4 bd · 3.0 ba · 2,604 sqft · Built 1905 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,259/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$594
• HOA: −$0
• Vac / Maint / Mgmt: −$264
• Net cashflow: $-360/mo
• Annual: $-4,318/yr
• Cap rate: 6.84%
• Cash-on-cash: 1.97%
• DSCR: 1.09
• 1% rule: 0.87%
• Cash to close: $40,600

Investor read

• This is a 4-bed/3.0-bath single-family listed at $145k.
• At list price, monthly cash flow is $-360 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $81k (43.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (13.2% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $81k (43.8% below list) — sets the bar for cash-flow.
• In year one you build about $595 of equity ($1k loan paydown + $-407 appreciation (-0.3% local appreciation)).
• Location reads 64/100 on livability (#339 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Bladen County Schools (rural): math 20% / reading 31% proficiency, ranked #161 of 178 in NC (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bladenboro Primary (math 22% / reading 32%, grade F, #1,033 of 1,410 statewide, top 76%, 403 students, 99% FRL); Bladenboro Middle (math 15% / reading 30%, grade F, #410 of 475 statewide, top 87%, 277 students, 99% FRL); West Bladen High (math 37% / reading 47%, grade F, #374 of 535 statewide, top 71%, 701 students, 100% FRL) — zoned schools average 99% FRL vs 70% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $427/mo; built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 42 active listings in the ZIP; 159 units permitted in Bladen County in 2024 (0 in 5+ unit buildings).
• Bladen County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $120k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; 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

• 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?
• Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.