4944 Galveston Dr · Fayetteville, NC 28303

$239,600

9 bd · 9.0 ba · 850 sqft · MultiFamily · 159 Days on market

Built 1975 0.28 ac lot ↓ 2% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Investor Triplex Opportunity! 4944, 4946, 4948 is an attractive option for investors looking to expand their portfolio with a multi-unit property in a convenient Fayetteville location. All units are 1 bedroom, 1 bathroom. Please do not disturb tenants.

Key facts

• 0.28 acre lot
• 3 parking spots
• Built 1975

Property features AI

Finance

• Other: Owner currently pays all utilities
• Financial info: Multifamily property with 4 total units
• HOA & community: No association

Exterior

• Parking: Open parking with 3 spaces
• Utilities: Public water; Public sewer
• Home design: Triplex; Single-story
• Construction: Brick veneer and other construction materials; Building area about 850 (above grade finished area 850)
• Exterior features: Shingle roof; Lot approximately 0.28 acres; Public maintained road access

Interior

• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heating varies by unit; Cooling varies by unit
• Interior features: Laminate and vinyl flooring; Varies by unit for heating and cooling
• Laundry & utility: Owner pays all utilities

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $515/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $211k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 4.8% in Fayetteville — 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 75/100 on livability (#45 in NC, #4,031 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime F, employment D-.
• 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.
• Market conditions: Rents rising (+3.0%/yr); 285 active listings in the ZIP; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• At $4,050/mo this rent would consume 83% of the median local household income ($58k/yr) (locally 1370% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 4 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, 69% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,848 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.69% ✓
• Cap rate: 14.02%
• Cash-on-cash: 27.61%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.01% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 1.89×
• Total profit: $59,594
• Equity at exit: $35,725

10-year hold

• IRR: 29.8%
• Equity multiple: 3.67×
• Total profit: $178,909
• Equity at exit: $20,716

Cash invested: $67,088 (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 28303

• Home prices YoY: -25.4%
• Rents YoY: 3.0%
• Active inventory: 285
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $4,050 medium
• Mortgage (P&I): −$1,256
• Tax est. 1.5%: −$300 /mo · $3,594/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$850
• Net cashflow: $1,544

Break-even live

Break-even rent $2,096

Max offer price $239,600

Occupancy floor 57%

Sensitivity live

Price	-10% $1,709	-5% $1,626	+0% $1,544	+5% $1,461	+10% $1,378
Rent	-10% $1,224	-5% $1,384	+0% $1,544	+5% $1,704	+10% $1,864
Rate	-1.0pp $1,664	-0.5pp $1,605	base $1,544	+0.5pp $1,482	+1.0pp $1,418

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$4,050
Total (3 units)			$4,050

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: $59,900
• Closing costs: $7,188
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $239,600 Active 159 DOM
2. 2026-06-18
   days on market $239,600 Active 156 DOM
3. 2026-06-17
   days on market $239,600 Active 155 DOM
4. 2026-06-16
   days on market $239,600 Active 154 DOM
5. 2026-06-15
   days on market $239,600 Active 153 DOM
6. 2026-06-14
   days on market $239,600 Active 151 DOM
7. 2026-06-13
   days on market $239,600 Active 150 DOM
8. 2026-06-10
   days on market $239,600 Active 148 DOM
9. 2026-06-09
   days on market $239,600 Active 147 DOM
10. 2026-06-08
    days on market $239,600 Active 146 DOM
11. 2026-06-07
    days on market $239,600 Active 145 DOM
12. 2026-06-03
    days on market $239,600 Active 141 DOM
13. 2026-06-02
    days on market $239,600 Active 140 DOM
14. 2026-06-01
    days on market $239,600 Active 139 DOM
15. 2026-05-31
    days on market $239,600 Active 138 DOM
16. 2026-05-30
    days on market $239,600 Active 137 DOM
17. 2026-04-02
    historical $689
18. 2026-03-21
    price $239,600
19. 2026-03-13
    price $239,700
20. 2026-03-08
    price $239,800
21. 2026-03-03
    price $239,900
22. 2026-02-17
    price $240,000
23. 2026-01-13
    listed $245,000 Active
24. 2025-12-03
    price $689
25. 2025-11-21
    price $739
26. 2025-10-28
    listed $789
27. 2025-01-27
    historical $764
28. 2025-01-24
    price $764
29. 2024-11-15
    listed $789
30. 2024-06-13
    historical $789
31. 2024-05-30
    listed $789

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,600
• − Mortgage interest: −$13,421
• − Property taxes: −$3,594
• − Insurance: −$1,198
• − Repairs & maintenance: −$3,888
• − Management: −$3,888
• − Depreciation: −$6,970
• Taxable income: $15,640
• Est. tax owed @ 24.0%: −$3,754
• After-tax cash flow: $14,770/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 — Fayetteville

• Score: 75/100
• State rank: #45
• US rank: #4031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fayetteville, NC
• County: Cumberland County · 265,314 people
• City population: 226,118
• Metro: Fayetteville, NC
• Population (ZIP): 30,965
• Household income: $58,223
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1370.0

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 0.70)
• Race & ethnicity: White 39% Black 37% Two or more races 11% Hispanic / Latino 10% Asian 4% Pacific Islander 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 3% Serbian 1% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 7% Other Asian/Pacific 2% Korean 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: ▼ -77.14%
• Current HPI: 226.5097
• Rent YoY: ▲ 3.01%
• Metro: Fayetteville, NC
• 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

-2.2% since first listed

15 events — show timeline

• 2026-04-02 Rental Removed $689 TMLS
• 2026-03-21 Price Changed $239,600 TMLS
• 2026-03-13 Price Changed $239,700 TMLS
• 2026-03-08 Price Changed $239,800 TMLS
• 2026-03-03 Price Changed $239,900 TMLS
• 2026-02-17 Price Changed $240,000 TMLS
• 2026-01-13 Listed $245,000 TMLS
• 2025-12-03 Price Changed $689 TMLS
• 2025-11-21 Price Changed $739 TMLS
• 2025-10-28 Listed for Rent $789 TMLS
• 2025-01-27 Rental Removed $764 APPFOLIO
• 2025-01-24 Price Changed $764 APPFOLIO
• 2024-11-15 Listed for Rent $789 APPFOLIO
• 2024-06-13 Rental Removed $789 APPFOLIO
• 2024-05-30 Listed for Rent $789 APPFOLIO