217 W Jackson St

Rich Square, NC 27869

$95,500D+

2 bd · 1.0 ba · 876 sqft · Built 1949 · SingleFamily · Active · 164 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $866/mo
• Mortgage (P&I): −$501
• Tax + insurance: −$102
• HOA: −$0
• Vac / Maint / Mgmt: −$182
• Net cashflow: $82/mo
• Annual: $982/yr
• Cap rate: 7.32%
• Cash-on-cash: 3.67%
• DSCR: 1.16
• 1% rule: 0.91%
• Cash to close: $26,740

Investor read

• This is a 2-bed/1.0-bath single-family listed at $96k.
• At list price, monthly cash flow is $82 ($982/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 $87k (9.3% below list).
• It's been on market 164 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $660 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#529 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Northampton County Schools (rural): math 15% / reading 18% proficiency, ranked #176 of 178 in NC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Northampton County High School (math 2% / reading 17%, grade F, #530 of 535 statewide, top 99%, 240 students, 99% FRL) — zoned schools average 99% FRL vs 78% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 17 units permitted in Northampton County in 2024 (0 in 5+ unit buildings).
• Northampton County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 11 sale attempts since 2y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $96k implies a 122% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 75% 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 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.