11 Clearview Ln

Highlands, NC 28741

$374,900C

2 bd · 1.0 ba · 2,304 sqft · Built 1980 · SingleFamily · Pending · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,995/mo
• Mortgage (P&I): −$1,966
• Tax + insurance: −$257
• HOA: −$17
• Vac / Maint / Mgmt: −$839
• Net cashflow: $916/mo
• Annual: $10,989/yr
• Cap rate: 9.22%
• Cash-on-cash: 10.47%
• DSCR: 1.47
• 1% rule: 1.07%
• Cash to close: $104,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $375k.
• At list price, monthly cash flow is $916 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• It's been on market 78 days — a 6% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $352k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#432 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, schools B; Watch: housing C-, amenities F, commute F.
• Macon County Schools (rural): math 47% / reading 50% proficiency, ranked #71 of 178 in NC (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 259 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 218 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• Macon County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $215k; list at $375k implies a 74% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.