5732 Daybrook Ct

Lowesville, NC 28164

$167,000C-

3 bd · 2.0 ba · 1,026 sqft · Built 2000 · Manufactured · Active · 133 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,548/mo
• Mortgage (P&I): −$876
• Tax + insurance: −$129
• HOA: −$20
• Vac / Maint / Mgmt: −$325
• Net cashflow: $198/mo
• Annual: $2,374/yr
• Cap rate: 7.71%
• Cash-on-cash: 5.08%
• DSCR: 1.23
• 1% rule: 0.93%
• Cash to close: $46,760

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $167k.
• At list price, monthly cash flow is $198 ($2k/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 $155k (7.3% below list).
• It's been on market 133 days — a 12% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $147k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#285 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Lincoln County Schools (rural): math 57% / reading 55% proficiency, ranked #42 of 178 in NC (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Catawba Springs Elementary (math 78% / reading 71%, grade A, #58 of 1,410 statewide, top 5%, 529 students, 30% FRL); East Lincoln Middle (math 55% / reading 59%, grade B, #68 of 475 statewide, top 15%, 728 students, 34% FRL); East Lincoln High (math 65% / reading 73%, grade B, #131 of 535 statewide, top 25%, 1,047 students, 29% FRL).
• Market conditions: 163 active listings in the ZIP; 697 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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.
• Climate carrying-cost: 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 1.7% in Lowesville — 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

• It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% 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 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.