309 N Wilson Ave · Dunn, NC 28334

$265,000

3 bd · 2.0 ba · 2,240 sqft · MultiFamily public records · 92 Days on market

Built 1925

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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
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

LOOK NO FURTHER FOR A GREAT INVESTMENT OPPORTUNITY! 3-Unit rental property with consistent rental income history. There are numerous possibilities with this property, it's just waiting for it's new owner.

Key facts

• New appliances
• Corain counters
• Jacuzzi tub

Tags

• 6 PLANK HARDWOOD FLOORS
• NEW APPLIANCES
• CORAIN COUNTERS
• 42 BEVELED CABINETS
• JACUZZI TUB
• COMMERCIAL GRADE WATER HEATER

Property features AI

Finance

• Other: Living area approximately 2,334; Updated/remodeled; Located in Harnett County
• HOA & community: No homeowners association; Not a senior community

Exterior

• Utilities: Public water; Public sewer; Electric service
• Home design: Two-story site-built home; Shingle roof
• Construction: Fiber cement exterior; Built as site built
• Exterior features: Front porch; Public maintained road; Asphalt road surface

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Self-cleaning oven; Stainless steel appliances; Pantry; Eat-in kitchen
• Bedrooms: 4 bedrooms total; 2 main-level bedrooms
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Baseboard heating; Ductless heating; Ductless cooling; Ceiling fans
• Interior features: Bathtub/shower combination; Ceiling fans; Double vanity; Eat-in kitchen; High ceilings; Pantry; Updated/remodeled condition
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $241k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 4.1% in Dunn — 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 63/100 on livability (#390 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, commute F, employment F.
• Harnett County Schools (rural): math 31% / reading 39% proficiency, ranked #130 of 178 in NC (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Triton High (math 41% / reading 49%, grade D-, #350 of 535 statewide, top 66%, 1,287 students, 63% FRL).
• Market conditions: 339 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $40k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $96k; list at $265k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $241,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.24% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.47%
• DSCR: 1.73
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.5%
• Equity multiple: 1.29×
• Total profit: $21,803
• Equity at exit: $39,512

10-year hold

• IRR: 16.8%
• Equity multiple: 2.38×
• Total profit: $102,062
• Equity at exit: $22,912

Cash invested: $74,200 (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 28334

• Home prices YoY: -13.2%
• Active inventory: 339
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $3,287 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$78 /mo · $941/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $1,018

Break-even live

Break-even rent $1,998

Max offer price $265,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$1,345
▸ 2× units	1	1	$1,942
Total (3 units)			$3,287

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 S Sampson Ave Dunn, NC	3.0	1.0	1418	$1,600	$1.13	13d	1	0.67mi
1617 Friendly Rd Dunn, NC	3.0	2.0	1528	$1,975	$1.29	21d	1	1.46mi

Listing history 25 events

1. 2026-06-18
   days on market $265,000 Active 92 DOM
2. 2026-06-17
   days on market $265,000 Active 91 DOM
3. 2026-06-16
   days on market $265,000 Active 90 DOM
4. 2026-06-15
   days on market $265,000 Active 89 DOM
5. 2026-06-14
   remarks 466-char remark
6. 2026-06-14
   pricedays on market $265,000 Active 87 DOM
7. 2026-06-10
   days on market $275,000 Active 84 DOM
8. 2026-06-09
   days on market $275,000 Active 83 DOM
9. 2026-06-08
   days on market $275,000 Active 82 DOM
10. 2026-06-07
    days on market $275,000 Active 81 DOM
11. 2026-06-05
    days on market $275,000 Active 78 DOM
12. 2026-06-03
    days on market $275,000 Active 77 DOM
13. 2026-06-02
    days on market $275,000 Active 76 DOM
14. 2026-06-01
    days on market $275,000 Active 75 DOM
15. 2026-05-31
    days on market $275,000 Active 74 DOM
16. 2026-05-30
    days on market $275,000 Active 73 DOM
17. 2026-05-07
    price $275,000
18. 2026-04-04
    price $299,000
19. 2026-03-18
    listed $305,000 Active
20. 2023-04-17
    soldstatus $96,000 Closed 204-char remark

    Show marketing remark (204 chars)

    LOOK NO FURTHER FOR A GREAT INVESTMENT OPPORTUNITY! 3-Unit rental property with consistent rental income history. There are numerous possibilities with this property, it's just waiting for it's new owner.

21. 2023-04-17
    soldstatus $96,000 204-char remark

    Show marketing remark (204 chars)

    LOOK NO FURTHER FOR A GREAT INVESTMENT OPPORTUNITY! 3-Unit rental property with consistent rental income history. There are numerous possibilities with this property, it's just waiting for it's new owner.

22. 2023-04-17
    soldstatus $96,000

    Show marketing remark (204 chars)

    LOOK NO FURTHER FOR A GREAT INVESTMENT OPPORTUNITY! 3-Unit rental property with consistent rental income history. There are numerous possibilities with this property, it's just waiting for it's new owner.

23. 2023-04-04
    status Pending 204-char remark

    Show marketing remark (204 chars)

    LOOK NO FURTHER FOR A GREAT INVESTMENT OPPORTUNITY! 3-Unit rental property with consistent rental income history. There are numerous possibilities with this property, it's just waiting for it's new owner.

24. 2023-03-29
    listed $90,000 Active 204-char remark

    Show marketing remark (204 chars)

    LOOK NO FURTHER FOR A GREAT INVESTMENT OPPORTUNITY! 3-Unit rental property with consistent rental income history. There are numerous possibilities with this property, it's just waiting for it's new owner.

25. 2023-03-29
    listed $90,000 204-char remark

    Show marketing remark (204 chars)

    LOOK NO FURTHER FOR A GREAT INVESTMENT OPPORTUNITY! 3-Unit rental property with consistent rental income history. There are numerous possibilities with this property, it's just waiting for it's new owner.

ⓘ 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: $941 · $78/mo
• Projected year-2 tax: $2,173 · $181/mo
• Expected delta: +$1,232/yr (+$103/mo · 130.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,444
• − Mortgage interest: −$14,844
• − Property taxes: −$941
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,156
• − Management: −$3,156
• − Depreciation: −$7,709
• Taxable income: $8,314
• Est. tax owed @ 24.0%: −$1,995
• After-tax cash flow: $10,223/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: Harnett County Schools
• NCES district ID: 3702010
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 39% ▼ -1.00%
• Median HH income: $45,400
• Composite: 29.88/100
• National rank: #6397
• State rank: #130 of 178 in NC

Livability — Dunn

• Score: 63/100
• State rank: #390
• US rank: #15160

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunn, NC
• County: Harnett County · 125,715 people
• City population: 22,873
• Metro: Fayetteville, NC
• Population (ZIP): 22,873
• Household income: $53,036
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 382.0

Population outlook (Harnett County) Hauer SSP2

• Today (2025): 153,758 people
• By 2030: 166,581 · +8.3%
• By 2040: 192,741 · +25.4%
• By 2050: 218,332 · +42.0%
• By 2075: 275,422 · +79.1%
• By 2100: 313,511 · +103.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 20% Hispanic / Latino 13% Two or more races 4%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Serbian 3% Slovak 1% Romanian 1%
• Foreign-born: 5% · Canada, Guatemala
• Languages at home: 88% English-only · Spanish 11%

Political lean MEDSL · Harnett

• 2024 margin: Strong R (+25.1) · D 36.9% · R 62.0% · Other 1.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -16.7pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+22.4 2016: R+24.1 2012: R+19.4 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.76%
• Current HPI: 275.5055
• Rent YoY: —
• 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

+205.6% since first listed

9 events — show timeline

• 2026-05-07 Price Changed $275,000 TMLS
• 2026-04-04 Price Changed $299,000 TMLS
• 2026-03-18 Listed $305,000 TMLS
• 2023-04-17 Sold (Public Records) $96,000 Public Records
• 2023-04-17 Sold (MLS) $96,000 AMLSNC
• 2023-04-17 Sold (MLS) $96,000 TMLS
• 2023-04-04 Pending — TMLS
• 2023-03-29 Listed $90,000 AMLSNC
• 2023-03-29 Listed $90,000 TMLS

Property tax history

-0.9%/yr

Latest (2025): $941 · +7.9% YoY. Source: county tax records.