5647 Putuptoe Pl

Aquadale, NC 28128

$115,000C

1 bd · 1.0 ba · 576 sqft · Built 2009 · SingleFamily · Active · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,138/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $215/mo
• Annual: $2,580/yr
• Cap rate: 8.54%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• 1% rule: 0.99%
• Cash to close: $32,200

Investor read

• This is a 1-bed/1.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $215 ($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 $114k (1.0% below list).
• It's been on market 106 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#383 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A-; Watch: crime D+, amenities F, commute F.
• Stanly County Schools (rural): math 38% / reading 42% proficiency, ranked #113 of 178 in NC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Aquadale Elementary (math 47% / reading 42%, grade F, #574 of 1,410 statewide, top 43%, 352 students, 99% FRL); South Stanly Middle (math 29% / reading 36%, grade F, #312 of 475 statewide, top 66%, 353 students, 56% FRL); South Stanly High (math 47% / reading 52%, grade D, #311 of 535 statewide, top 60%, 442 students, 48% FRL) — zoned schools average 68% FRL vs 46% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 101 active listings in the ZIP; 367 units permitted in Stanly County in 2024 (0 in 5+ unit buildings).
• Stanly County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $5k; list at $115k implies a 2200% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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 D 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.