1606 Racehorse Ct · Hope Mills, NC 28371

$385,000

4 bd · 4.0 ba · 2,830 sqft · SingleFamily public records · 63 Days on market

Built 2011 0.33 ac lot Est $359k · 7% over $11/mo HOA

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Cash flow +7.2/30.0
• ARV discount +4.3/15.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +1.4/10.0

Listing remarks MLS

* * $5,000 seller allowance being offered * * Beautifully maintained 2 story located on a private cul-de-sac in Parkton. Centrally located with access to tons of shopping and schools. Welcoming front porch opens into a two story entry way with formal living and formal dining with coffered ceiling. Stunning updated custom kitchen includes granite counters, bar top seating area, subway tile backsplash, matte farmhouse sink, walk in pantry, and updated black stainless appliances. Spacious owners suite located on the second floor includes office space, trey ceiling, garden tub, walk in shower, dual vanity sinks, and separate toilet area. Two other bedrooms and large bonus room also located on second floor. You may never leave the backyard oasis which features tons of shade, side yard deck perfect for a fire pit and gatherings, canopy pergola which conveys with the property, and a private treeline perfect for privacy.

Key facts

• Custom kitchen
• Large island
• Granite countertops

Tags

• QUIET CUL DE SAC
• CUSTOM KITCHEN
• GRANITE COUNTERTOPS
• LARGE ISLAND
• BAR SEATING
• SUBWAY TILE BACKSPLASH

Property features AI

Finance

• Other: Subdivision: STEEPLE CHASE
• HOA & community: Homeowners association with an annual fee of $135 (about $11.25/month)

Exterior

• Parking: Attached garage; Two covered garage spaces; Two garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Vinyl siding
• Exterior features: Front porch; Porch; Privacy fencing in back yard; Located on a cul-de-sac

Interior

• Kitchen: Granite counters; Kitchen island; Eat-in kitchen; Dishwasher; Electric range; Oven; Microwave; Refrigerator
• Bedrooms: Walk-in closet(s) mentioned
• Flooring: Carpet; Other flooring
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump heating; Has cooling
• Interior features: Double vanity; Eat-in kitchen; Granite counters; Kitchen island; Walk-in closets; Factory-built fireplace
• Laundry & utility: Washer hookup on main level; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $385k.

Deal economics

• At list price, monthly cash flow is $-533 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $291k (24.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (34.9% below list).
• Recommended offer: $251k (34.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#234 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D-, amenities F, commute F.
• Cumberland County Schools (urban): math 32% / reading 41% proficiency, ranked #126 of 178 in NC (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rockfish Elementary (math 32% / reading 45%, grade F, #750 of 1,410 statewide, top 54%, 696 students, 98% FRL); Hope Mills Middle (math 27% / reading 34%, grade F, #331 of 475 statewide, top 70%, 514 students, 99% FRL); South View High (math 60% / reading 43%, grade D+, #299 of 535 statewide, top 56%, 1,502 students, 66% FRL) — zoned schools average 88% FRL vs 55% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 44 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$66k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($362k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; major 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 $250,607 (34.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.65% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.94%
• DSCR: 0.74
• GRM: 12.8

CMA / ARV

• ARV (on-the-fly): $359,410
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1523 Rough Rider Ln	0.20mi	5/3.5 (+1)	3,144 (+11%)	5mo	$314,500	$100	61
4352 Jockey Whip Ln	0.13mi	4/3.0	2,481 (-12%)	13mo	$390,000	$157	58
4348 Jockey Whip Ln	0.15mi	4/2.5	2,654 (-6%)	23mo	$357,000	$135	58
4527 Bunkers Bay Ln	0.64mi	4/2.5	2,756 (-3%)	4mo	$399,990	$145	57
1531 Rough Rider Ln	0.17mi	4/3.5	3,207 (+13%)	15mo	$384,900	$120	55
3912 Bensley Ct	0.46mi	4/2.5	2,983 (+5%)	12mo	$372,100	$125	54
1440 Rough Rider Ln	0.37mi	5/3.0 (+1)	2,973 (+5%)	16mo	$378,000	$127	52
1624 Citation Ct	0.32mi	4/3.0	2,429 (-14%)	10mo	$320,000	$132	49
1417 Benchmark Way	0.63mi	4/2.5	2,977 (+5%)	15mo	$394,500	$133	43
3919 Bowen Ave	0.50mi	5/3.0 (+1)	2,518 (-11%)	8mo	$279,900	$111	42
4435 Low Oak Ct	0.59mi	5/3.5 (+1)	3,044 (+8%)	15mo	$386,000	$127	40
4400 Low Oak Ct	0.62mi	5/3.0 (+1)	3,183 (+12%)	16mo	$404,000	$127	28

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.63×
• Total profit: $175,655
• Equity at exit: $346,839

10-year hold

• IRR: 18.3%
• Equity multiple: 6.05×
• Total profit: $543,886
• Equity at exit: $747,970

Cash invested: $107,800 (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 28371

• Home prices YoY: 5.0%
• Active inventory: 44
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,506 medium
• Mortgage (P&I): −$2,019
• Tax from tax record: −$323 /mo · $3,874/yr
• Insurance: −$160
• HOA: −$11
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-533

Break-even live

Break-even rent $3,181

Max offer price $290,770

Occupancy floor —

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1525 Gallant Fox Ct Parkton, NC	4.0	3.0	3207	$2,395	$0.75	13d	1	0.17mi
1523 Rough Rider Ln Parkton, NC	5.0	3.5	3144	$2,595	$0.83	23d	1	0.19mi
4113 Saint Ives Ct Fayetteville, NC	4.0	3.0	2750	$2,495	$0.91	23d	1	1.29mi
4032 Newgate St Fayetteville, NC	4.0	2.5	2209	$2,750	$1.24	23d	1	1.34mi

HOA detail

• Monthly dues: $11 · $132/yr

Listing history 22 events

1. 2026-06-18
   days on market $385,000 Active 63 DOM
2. 2026-06-17
   days on market $385,000 Active 62 DOM
3. 2026-06-16
   days on market $385,000 Active 61 DOM
4. 2026-06-15
   days on market $385,000 Active 60 DOM
5. 2026-06-14
   days on market $385,000 Active 58 DOM
6. 2026-06-13
   days on market $385,000 Active 57 DOM
7. 2026-06-10
   days on market $385,000 Active 55 DOM
8. 2026-06-09
   days on market $385,000 Active 54 DOM
9. 2026-06-08
   days on market $385,000 Active 53 DOM
10. 2026-06-07
    days on market $385,000 Active 52 DOM
11. 2026-06-03
    days on market $385,000 Active 48 DOM
12. 2026-06-02
    days on market $385,000 Active 47 DOM
13. 2026-06-01
    days on market $385,000 Active 46 DOM
14. 2026-05-31
    pricedays on market $385,000 Active 45 DOM
15. 2026-05-30
    days on market $392,995 Active 44 DOM
16. 2026-04-16
    listed $392,995 Active
17. 2026-01-29
    listed $392,995 Active
18. 2024-07-29
    soldstatus $365,000 Closed 929-char remark

    Show marketing remark (929 chars)

    * * $5,000 seller allowance being offered * * Beautifully maintained 2 story located on a private cul-de-sac in Parkton. Centrally located with access to tons of shopping and schools. Welcoming front porch opens into a two story entry way with formal living and formal dining with coffered ceiling. Stunning updated custom kitchen includes granite counters, bar top seating area, subway tile backsplash, matte farmhouse sink, walk in pantry, and updated black stainless appliances. Spacious owners suite located on the second floor includes office space, trey ceiling, garden tub, walk in shower, dual vanity sinks, and separate toilet area. Two other bedrooms and large bonus room also located on second floor. You may never leave the backyard oasis which features tons of shade, side yard deck perfect for a fire pit and gatherings, canopy pergola which conveys with the property, and a private treeline perfect for privacy.

19. 2024-07-29
    soldstatus $365,000

    Show marketing remark (929 chars)

    * * $5,000 seller allowance being offered * * Beautifully maintained 2 story located on a private cul-de-sac in Parkton. Centrally located with access to tons of shopping and schools. Welcoming front porch opens into a two story entry way with formal living and formal dining with coffered ceiling. Stunning updated custom kitchen includes granite counters, bar top seating area, subway tile backsplash, matte farmhouse sink, walk in pantry, and updated black stainless appliances. Spacious owners suite located on the second floor includes office space, trey ceiling, garden tub, walk in shower, dual vanity sinks, and separate toilet area. Two other bedrooms and large bonus room also located on second floor. You may never leave the backyard oasis which features tons of shade, side yard deck perfect for a fire pit and gatherings, canopy pergola which conveys with the property, and a private treeline perfect for privacy.

20. 2024-06-30
    status Pending 929-char remark

    Show marketing remark (929 chars)

    * * $5,000 seller allowance being offered * * Beautifully maintained 2 story located on a private cul-de-sac in Parkton. Centrally located with access to tons of shopping and schools. Welcoming front porch opens into a two story entry way with formal living and formal dining with coffered ceiling. Stunning updated custom kitchen includes granite counters, bar top seating area, subway tile backsplash, matte farmhouse sink, walk in pantry, and updated black stainless appliances. Spacious owners suite located on the second floor includes office space, trey ceiling, garden tub, walk in shower, dual vanity sinks, and separate toilet area. Two other bedrooms and large bonus room also located on second floor. You may never leave the backyard oasis which features tons of shade, side yard deck perfect for a fire pit and gatherings, canopy pergola which conveys with the property, and a private treeline perfect for privacy.

21. 2024-06-14
    listed $365,000 Active 929-char remark

    Show marketing remark (929 chars)

    * * $5,000 seller allowance being offered * * Beautifully maintained 2 story located on a private cul-de-sac in Parkton. Centrally located with access to tons of shopping and schools. Welcoming front porch opens into a two story entry way with formal living and formal dining with coffered ceiling. Stunning updated custom kitchen includes granite counters, bar top seating area, subway tile backsplash, matte farmhouse sink, walk in pantry, and updated black stainless appliances. Spacious owners suite located on the second floor includes office space, trey ceiling, garden tub, walk in shower, dual vanity sinks, and separate toilet area. Two other bedrooms and large bonus room also located on second floor. You may never leave the backyard oasis which features tons of shade, side yard deck perfect for a fire pit and gatherings, canopy pergola which conveys with the property, and a private treeline perfect for privacy.

22. 2010-11-24
    soldstatus $62,000

ⓘ 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: $3,874 · $323/mo
• Projected year-2 tax: $3,874 · $323/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $30,073
• − Mortgage interest: −$21,566
• − Property taxes: −$3,874
• − Insurance: −$1,925
• − Repairs & maintenance: −$2,406
• − Management: −$2,406
• − HOA: −$132
• − Depreciation: −$11,200
• Taxable loss: −$13,436
• Est. tax savings @ 24.0%: +$3,225
• After-tax cash flow: $-3,176/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: Cumberland County Schools
• NCES district ID: 3700011
• Math proficiency: 32% ▼ -2.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $44,168
• Composite: 31.0/100
• National rank: #6096
• State rank: #126 of 178 in NC

Livability — Hope Mills

• Score: 67/100
• State rank: #234
• US rank: #10761

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hope Mills, NC
• City population: 39,196
• Population (ZIP): 6,458

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 330,855 people
• By 2030: 333,523 · +0.8%
• By 2040: 335,583 · +1.4%
• By 2050: 335,325 · +1.4%
• By 2075: 342,853 · +3.6%
• By 2100: 340,698 · +3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 42% Black 34% Hispanic / Latino 14% Two or more races 8% Native American 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4%
• Common ancestry: Serbian 3% Italian 2% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 1%

Political lean MEDSL · Cumberland

• 2024 margin: D (+13.4) · D 56.1% · R 42.7% · Other 1.2%
• 2008→2024 swing: -4.3pp toward R · 2008: 17.7pp · 2024: 13.4pp
• All cycles: 2024: D+13.4 2020: D+16.6 2016: D+16.0 2012: D+19.7 2008: D+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.91%
• Current HPI: 330.85
• 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

+533.9% since first listed

7 events — show timeline

• 2026-04-16 Listed $392,995 LPRMLS
• 2026-01-29 Listed $392,995 LPRMLS
• 2024-07-29 Sold (Public Records) $365,000 Public Records
• 2024-07-29 Sold (MLS) $365,000 LPRMLS
• 2024-06-30 Pending — LPRMLS
• 2024-06-14 Listed $365,000 LPRMLS
• 2010-11-24 Sold (Public Records) $62,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $3,874 · +40.0% YoY. Source: county tax records.