416 Wakefield Dr · Fayetteville, NC 28348

$59,900

3 bd · 1.0 ba · 532 sqft · SingleFamily public records · 3 Days on market

Built 1957 1.00 ac lot

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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 +3.6/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits on this 1-acre property featuring TWO homes and plenty of potential for the right buyer. 416 & 420 Wakefield Dr! Whether you're looking for an investment opportunity, multi-generational living potential, or a project to make your own, this property offers a unique setup with two separate residences. The main home features 3 bedrooms and 1 bathroom, while the second home offers 1 bedroom and 1 bathroom. Each home has its own electric service, well, and septic system already in place. Bring your vision, creativity, and renovation ideas to restore these properties and unlock their full potential. Property is being sold as-is.

Key facts

• Electric service
• Separate residences
• Well

Tags

• 1 ACRE PROPERTY
• TWO HOMES
• INVESTMENT OPPORTUNITY
• SEPARATE RESIDENCES
• ELECTRIC SERVICE
• WELL

Property features AI

Finance

• Other: Property zoned R10 - Residential District; Lot approximately 1 acre

Exterior

• Utilities: Water from spring and well; Sewer via holding tank and septic tank
• Home design: Single-family residence; One story
• Construction: Unknown construction materials
• Exterior features: Fenced yard; Located on a cul-de-sac

Interior

• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Has heating; Other heating type
• Interior features: Other interior features; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $768 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 21.7% 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: 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: South View Middle (math 20% / reading 34%, grade F, #374 of 475 statewide, top 80%, 661 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 82% FRL vs 55% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 318 active listings in the ZIP; 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 $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $59,900

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.48% ✓
• Cap rate: 21.67%
• Cash-on-cash: 54.93%
• DSCR: 3.44
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: 54.6%
• Equity multiple: 3.45×
• Total profit: $41,148
• Equity at exit: $8,931

10-year hold

• IRR: 60.2%
• Equity multiple: 7.38×
• Total profit: $107,043
• Equity at exit: $5,179

Cash invested: $16,772 (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 28348

• Home prices YoY: -14.0%
• Rents YoY: 4.3%
• Active inventory: 318
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,488 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$69 /mo · $829/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $768

Break-even live

Break-even rent $517

Max offer price $59,900

Occupancy floor 43%

Sensitivity live

Price	-10% $802	-5% $785	+0% $768	+5% $751	+10% $734
Rent	-10% $650	-5% $709	+0% $768	+5% $826	+10% $885
Rate	-1.0pp $798	-0.5pp $783	base $768	+0.5pp $752	+1.0pp $736

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-20
   listed $59,900 Active
2. 2013-05-03
   soldstatus $52,500

ⓘ 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: $829 · $69/mo
• Projected year-2 tax: $829 · $69/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 5/10 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: $17,861
• − Mortgage interest: −$3,355
• − Property taxes: −$829
• − Insurance: −$300
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$1,743
• Taxable income: $8,777
• Est. tax owed @ 24.0%: −$2,106
• After-tax cash flow: $7,106/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

• County: Cumberland County · 265,314 people
• City population: 226,118
• Metro: Fayetteville, NC
• Population (ZIP): 39,196
• Household income: $66,129
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 746.0

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 0.67)
• Race & ethnicity: White 49% Black 27% Hispanic / Latino 13% Two or more races 11% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5%
• Common ancestry: Romanian 2% Lithuanian 1% Serbian 1%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 90% English-only · Spanish 8% Other Indo-European 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: ▼ -37.14%
• Current HPI: 228.3122
• Rent YoY: ▲ 4.28%
• 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

+14.1% since first listed

2 events — show timeline

• 2026-05-20 Listed $59,900 LPRMLS
• 2013-05-03 Sold (Public Records) $52,500 Public Records

Property tax history

+3.0%/yr

Latest (2025): $829 · -1.5% YoY. Source: county tax records.