Borrower is looking to rate/term refinance the subject property located in Clayton, NC to hold for long-term rental income. Subject is an SFR currently leased for $2,800 per month which is above the market rates per the appraiser's estimate ($1,750). Subject was appraised for $275k As-Is and a CDA confirmed the value was acceptable. Sponsor on the loan has excellent credit and bank statements reflect sufficient liquidity to meet the reserve requirement. Total loan amount 74.2% LTV with 1.12 DSCR.