2717 Old Us Highway 64

Plymouth, NC 27846

$21,000C

4 bd · 1.0 ba · 1,136 sqft · Built 1941 · SingleFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $948/mo
• Mortgage (P&I): −$110
• Tax + insurance: −$18
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $620/mo
• Annual: $7,445/yr
• Cap rate: 41.75%
• Cash-on-cash: 126.62%
• DSCR: 6.63
• 1% rule: 4.51%
• Cash to close: $5,880

Investor read

• This is a 4-bed/1.0-bath single-family listed at $21k.
• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $21k).
• It's been on market 58 days — a 3% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $20k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($145 loan paydown + $2k appreciation (9.5% local appreciation)).
• Location reads 56/100 on livability (#627 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• Martin County Schools (rural): math 24% / reading 34% proficiency, ranked #150 of 178 in NC (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jamesville Elementary (math 52% / reading 57%, grade C, #302 of 1,410 statewide, top 23%, 208 students, 99% FRL); Riverside High (math 22% / reading 37%, grade F, #459 of 535 statewide, top 87%, 447 students, 99% FRL) — zoned schools average 99% FRL vs 62% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 42% at this address vs 29% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Martin County Schools average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP.
• Martin County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.5% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% 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.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1941 — 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?
• Crime grade is F 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.