3374 Galleria Dr #3 · Fayetteville, NC 28303

$120,000

2 bd · 2.0 ba · 1,176 sqft · Condo public records · 185 Days on market

Built 1993 $134/mo HOA · 11% of rent

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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 +19.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.3/10.0
• 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

Listing remarks MLS

Check Out This Spacious FIRST FLOOR 2BD/2BTH Condo at Galleria Place Condominiums in the middle of town! Great investment opportunity or future home sold "AS IS". Both bedrooms have walk-in-closets. Cover patio off great room. Community amenities feature a community pool, tennis court and clubhouse. Located Close to Bragg, Shopping, Schools, and More! Condo is currently tenant occupied on a month-to-month lease at a discounted rate for $575 a month and wishes to stay if possible. Please look at the documents attached in transaction desk. Use the link for the recent video walkthrough: https://m. bixel1.net/vgdljb

Key facts

• New carpet
• Walk-in closets
• Covered patio

Tags

• FIRST-FLOOR
• NEW CARPET
• FRESH INTERIOR PAINT
• NEWLY INSTALLED HVAC SYSTEM
• WALK-IN CLOSETS
• COVERED PATIO

Property features AI

Finance

• HOA & community: Homeowners association with a $134 monthly fee; Community pool; Clubhouse; Sidewalks

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Condominium; Residential property; One level / 1 story
• Construction: Vinyl siding
• Exterior features: Storage; Covered patio; Porch; Cleared lot

Interior

• Kitchen: Refrigerator; Dishwasher; Microwave; Range
• Bedrooms: Total rooms: 4
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central electric air conditioning
• Interior features: Walk-in closet(s); Gas log fireplace (1)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $125 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.9% 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: 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.
• Zoned schools: Vanstory Hills Elementary (math 46% / reading 50%, grade D, #477 of 1,410 statewide, top 35%, 469 students, 99% FRL); R Max Abbott Middle (math 31% / reading 45%, grade F, #251 of 475 statewide, top 54%, 759 students, 99% FRL); Terry Sanford High (math 49% / reading 52%, grade D+, #306 of 535 statewide, top 57%, 1,224 students, 59% FRL) — zoned schools average 86% FRL vs 55% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 280 active listings in the ZIP; 38 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

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; list at $120k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
7. 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.
8. 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.
9. 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: 1.03% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.46%
• DSCR: 1.20
• GRM: 8.1

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-11,441
• Equity at exit: $17,892

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $471
• Equity at exit: $10,375

Cash invested: $33,600 (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: 280
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,237 high
• Mortgage (P&I): −$629
• Tax from tax record: −$39 /mo · $467/yr
• Insurance: −$50
• HOA: −$134
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $125

Break-even live

Break-even rent $1,079

Max offer price $120,000

Occupancy floor 85%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3374 Galleria Dr Fayetteville, NC	3.0	2.0	1350	$1,200	$0.89	23d	1	0.03mi
710 Villagio Pl Fayetteville, NC	1.0–2.0	1.0–2.0	984	$1,686	$1.71	13d	9	0.27mi
1849 Tryon Dr Fayetteville, NC	2.0	2.0	1061	$998	$0.94	23d	2	0.31mi
4420 Blanton Rd Unit 4420-H Fayetteville, NC	2.0	1.5	990	$1,025	$1.04	13d	1	0.33mi
1861 Tryon Dr Unit 3 Fayetteville, NC	2.0	2.0	1050	$995	$0.95	23d	1	0.36mi
1909 Tryon Dr #7 Fayetteville, NC	2.0	2.0	1060	$1,050	$0.99	23d	1	0.36mi
1808 Tryon Dr Fayetteville, NC	2.0	2.0	1066	$995	$0.93	23d	1	0.40mi
1882 Tryon Dr #4 Fayetteville, NC	2.0	2.0	1063	$1,100	$1.03	13d	1	0.41mi
1937 Sardonyx Rd Fayetteville, NC	2.0	2.0	1200	$1,150	$0.96	23d	1	0.51mi
1914 King George Dr Fayetteville, NC	2.0	1.0	800	$850	$1.06	23d	1	0.51mi
1615 Morehead Ave Fayetteville, NC	3.0	2.0	1073	$1,400	$1.30	23d	1	0.56mi
1199 Wrenwood Ct Fayetteville, NC	2.0	2.5	1224	$1,345	$1.10	23d	1	0.60mi
1907 Eichelberger Dr Fayetteville, NC	3.0	2.0	1463	$1,650	$1.13	23d	1	0.61mi
1198 Windham Ct Fayetteville, NC	2.0	2.5	1200	$1,100	$0.92	13d	1	0.61mi
1160 Windham Ct Fayetteville, NC	2.0	2.5	1200	$1,250	$1.04	23d	1	0.65mi
1276 N Forest Dr Fayetteville, NC	2.0	2.5	1200	$1,295	$1.08	23d	1	0.66mi
3318 Rogers Dr Fayetteville, NC	3.0	2.0	1392	$1,750	$1.26	13d	1	0.68mi
908 William Clark Rd Fayetteville, NC	2.0	1.0	750	$975	$1.30	13d	1	0.70mi
2110 Rogers Dr Fayetteville, NC	1.0	1.0	700	$895	$1.28	23d	1	0.93mi
5109 Higgins St Fayetteville, NC	2.0	1.0	862	$1,000	$1.16	23d	1	0.95mi
1156 Acorn St Fayetteville, NC	2.0	1.0	800	$1,000	$1.25	23d	1	0.95mi
844 Anita Rd Fayetteville, NC	2.0	1.0	850	$850	$1.00	13d	1	0.96mi
4916 Schmidt St Fayetteville, NC	2.0	1.0	801	$945	$1.18	23d	1	0.96mi
5112 Cannon St Fayetteville, NC	2.0	1.0	750	$949	$1.27	13d	1	0.98mi
1000a Elm St Fayetteville, NC	1.0–2.0	1.0–2.0	675	$1,403	$2.08	13d	23	1.17mi
301 Barcelona Dr Fayetteville, NC	1.0–2.0	1.0–2.0	845	$1,326	$1.57	13d	58	1.19mi
1014 Enclave Dr Fayetteville, NC	1.0–3.0	1.0–2.0	1112	$1,512	$1.36	13d	19	1.23mi
421 Squirrel St Unit A Fayetteville, NC	2.0	1.0	780	$900	$1.15	23d	1	1.25mi
4943 Fieldcrest Dr Unit B Fayetteville, NC	1.0	1.0	825	$799	$0.97	23d	1	1.28mi
2056 Wheeling St Fayetteville, NC	3.0	2.5	1401	$1,595	$1.14	23d	1	1.33mi
4959 Fieldcrest Dr Fayetteville, NC	1.0	1.0	850	$725	$0.85	13d	1	1.33mi
4981 Galveston Dr Fayetteville, NC	2.0	1.5	750	$1,050	$1.40	23d	1	1.38mi
622 Dashland Dr Unit A Fayetteville, NC	1.0	1.0	700	$835	$1.19	13d	1	1.38mi
622 Dashland Dr Unit B Fayetteville, NC	2.0	1.5	750	$940	$1.25	13d	1	1.38mi
2436 Bragg Blvd Fayetteville, NC	2.0	1.0	1000	$1,200	$1.20	13d	1	1.44mi
2436 Bragg Blvd Fayetteville, NC	2.0	1.0	1000	$1,200	$1.20	23d	1	1.44mi
2434 Bragg Blvd Fayetteville, NC	2.0	1.0	1000	$1,200	$1.20	23d	1	1.44mi
1981 Wheeling St Fayetteville, NC	3.0	2.0	1400	$1,500	$1.07	23d	1	1.45mi

HOA detail condo

• Monthly dues: $134 · $1,608/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $120,000 Active 185 DOM
2. 2026-06-17
   days on market $120,000 Active 184 DOM
3. 2026-06-16
   days on market $120,000 Active 183 DOM
4. 2026-06-15
   days on market $120,000 Active 182 DOM
5. 2026-06-14
   days on market $120,000 Active 180 DOM
6. 2026-06-13
   days on market $120,000 Active 179 DOM
7. 2026-06-10
   days on market $120,000 Active 177 DOM
8. 2026-06-09
   days on market $120,000 Active 176 DOM
9. 2026-06-08
   days on market $120,000 Active 175 DOM
10. 2026-06-07
    days on market $120,000 Active 174 DOM
11. 2026-06-03
    days on market $120,000 Active 170 DOM
12. 2026-06-02
    days on market $120,000 Active 169 DOM
13. 2026-06-01
    days on market $120,000 Active 168 DOM
14. 2026-05-31
    days on market $120,000 Active 167 DOM
15. 2026-05-30
    days on market $120,000 Active 166 DOM
16. 2026-03-30
    price $120,000
17. 2025-12-15
    listed $135,000 Active
18. 2022-04-06
    soldstatus $74,000 629-char remark

    Show marketing remark (629 chars)

    Check Out This Spacious FIRST FLOOR 2BD/2BTH Condo at Galleria Place Condominiums in the middle of town! Great investment opportunity or future home sold "AS IS". Both bedrooms have walk-in-closets. Cover patio off great room. Community amenities feature a community pool, tennis court and clubhouse. Located Close to Bragg, Shopping, Schools, and More! Condo is currently tenant occupied on a month-to-month lease at a discounted rate for $575 a month and wishes to stay if possible. Please look at the documents attached in transaction desk. Use the link for the recent video walkthrough: https://m. bixel1.net/vgdljb

19. 2022-03-11
    listed $70,000 629-char remark

    Show marketing remark (629 chars)

    Check Out This Spacious FIRST FLOOR 2BD/2BTH Condo at Galleria Place Condominiums in the middle of town! Great investment opportunity or future home sold "AS IS". Both bedrooms have walk-in-closets. Cover patio off great room. Community amenities feature a community pool, tennis court and clubhouse. Located Close to Bragg, Shopping, Schools, and More! Condo is currently tenant occupied on a month-to-month lease at a discounted rate for $575 a month and wishes to stay if possible. Please look at the documents attached in transaction desk. Use the link for the recent video walkthrough: https://m. bixel1.net/vgdljb

20. 1999-03-29
    soldstatus $59,500

ⓘ 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: $467 · $39/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$517/yr (+$43/mo · 110.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $14,843
• − Mortgage interest: −$6,722
• − Property taxes: −$467
• − Insurance: −$600
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − HOA: −$1,608
• − Depreciation: −$3,491
• Taxable loss: −$419
• Est. tax savings @ 24.0%: +$101
• After-tax cash flow: $1,600/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

+101.7% since first listed

5 events — show timeline

• 2026-03-30 Price Changed $120,000 LPRMLS
• 2025-12-15 Listed $135,000 LPRMLS
• 2022-04-06 Sold (MLS) $74,000 LPRMLS
• 2022-03-11 Listed $70,000 LPRMLS
• 1999-03-29 Sold (Public Records) $59,500 Public Records

Property tax history

-13.0%/yr

Latest (2019): $467 · +0.0% YoY. Source: county tax records.