310 Spring St · Hamlet, NC 28345

$100,000

4 bd · 1.5 ba · 1,457 sqft · SingleFamily public records · 60 Days on market

Built 1960 10,019 sqft lot Est $74k · 35% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.2/30.0
• DSCR +9.4/10.0
• 1% rule +6.3/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

9 Property Investment Portfolio to include: 7 fully rented single family homes, 1 fully rented duplex, and 1 vacant lot all within walking distance of one another. Properties are not to be sold separately and must be sold altogether. 310 Spring St is a 4 bedroom 2 bath property that rents for $1100 per month Additional Properties included in this portfolio are: 314 High St 316 High St 300 Corning St 302 Corning St 422 Spring St. 320/322 High St - Duplex 627 Washington Ave 218 Spring St-vacant lot

Key facts

• 0.23 acre lot
• Built 1960
• Listed 59 days

Property features AI

Exterior

• Parking: On-site parking
• Utilities: Sewer connected; Water connected
• Home design: Single-family residence; Residential property; Two levels (2 stories); Entry level: 1; Facing details not specified
• Construction: Wood siding and frame construction
• Exterior features: Front porch; No fencing; Shingle roof; City street and state road frontage

Interior

• Bedrooms: 4 total rooms (includes bedrooms and living areas)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Crawl space basement; Has view

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.8% in Hamlet — 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.

Location & tenants

• Location reads 70/100 on livability (#124 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D, amenities F, commute F.
• Richmond County Schools (town): math 30% / reading 36% proficiency, ranked #139 of 178 in NC (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Monroe Avenue Elementary (math 12% / reading 27%, grade F, #1,242 of 1,410 statewide, top 90%, 407 students, 99% FRL); Hamlet Middle (math 22% / reading 34%, grade F, #360 of 475 statewide, top 77%, 425 students, 99% FRL); Richmond Senior High (math 58% / reading 38%, grade D, #329 of 535 statewide, top 62%, 1,286 students, 99% FRL) — zoned schools average 99% FRL vs 70% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 73 active listings in the ZIP; 54 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richmond County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.23%
• DSCR: 1.54
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $74,307
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 Spring St	0.15mi	4/1.0	1,580 (+8%)	8mo	$80,000	$51	70
343 Raleigh St	0.23mi	4/1.0	1,496 (+3%)	21mo	$35,000	$23	65
413 Rice St	0.56mi	3/1.5 (-1)	1,654 (+14%)	0mo	$68,000	$41	46
733 W Hamlet Ave	0.47mi	3/2.0 (-1)	1,344 (-8%)	20mo	$95,000	$71	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $1,932
• Equity at exit: $14,910

10-year hold

• IRR: 11.4%
• Equity multiple: 1.89×
• Total profit: $24,941
• Equity at exit: $8,646

Cash invested: $28,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28345

• Home prices YoY: -22.3%
• Active inventory: 73
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $285

Break-even live

Break-even rent $769

Max offer price $100,000

Occupancy floor 70%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $100,000 Active 60 DOM
2. 2026-06-18
   days on market $100,000 Active 59 DOM
3. 2026-06-17
   days on market $100,000 Active 58 DOM
4. 2026-06-16
   days on market $100,000 Active 57 DOM
5. 2026-06-15
   days on market $100,000 Active 56 DOM
6. 2026-06-14
   days on market $100,000 Active 54 DOM
7. 2026-06-13
   days on market $100,000 Active 53 DOM
8. 2026-06-10
   days on market $100,000 Active 51 DOM
9. 2026-06-09
   pricedays on market $100,000 Active 50 DOM
10. 2026-06-08
    days on market $825,000 Active 49 DOM
11. 2026-06-07
    days on market $825,000 Active 48 DOM
12. 2026-06-05
    days on market $825,000 Active 45 DOM
13. 2026-06-03
    days on market $825,000 Active 44 DOM
14. 2026-06-02
    days on market $825,000 Active 43 DOM
15. 2026-06-01
    days on market $825,000 Active 42 DOM
16. 2026-05-31
    days on market $825,000 Active 41 DOM
17. 2026-05-30
    days on market $825,000 Active 40 DOM
18. 2026-04-20
    listed $875,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $500 · $42/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$320/yr (+$27/mo · 63.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,565
• − Mortgage interest: −$5,602
• − Property taxes: −$500
• − Insurance: −$500
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$2,909
• Taxable income: $1,884
• Est. tax owed @ 24.0%: −$452
• After-tax cash flow: $2,971/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Richmond County Schools
• NCES district ID: 3703870
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $32,224
• Composite: 26.97/100
• National rank: #7076
• State rank: #139 of 178 in NC

Livability — Hamlet

• Score: 70/100
• State rank: #124
• US rank: #7413

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment F Housing A- Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamlet, NC
• Population (ZIP): 12,224

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 42,892 people
• By 2030: 41,257 · -3.8%
• By 2040: 37,629 · -12.3%
• By 2050: 33,655 · -21.5%
• By 2075: 23,992 · -44.1%
• By 2100: 14,782 · -65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Black 34% Hispanic / Latino 4% Native American 4% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+20.9) · D 39.2% · R 60.1%
• 2008→2024 swing: -22.4pp toward R · 2008: 1.5pp · 2024: -20.9pp
• All cycles: 2024: R+20.9 2020: R+14.8 2016: R+10.1 2012: D+2.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.70%
• Current HPI: 197.4677
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

1 event — show timeline

• 2026-04-20 Listed $875,000 Hive MLS

Property tax history

-0.1%/yr

Latest (2025): $500 · -2.0% YoY. Source: county tax records.