138 W Circle Ct · Fayetteville, NC 28301

$128,000

2 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 46 Days on market

Built 1945 9,148 sqft lot Est $177k · 28% under

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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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.2/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 1-bath home located in an established neighborhood in Fayetteville. This cozy home features five total rooms including a spacious living room, dining room, kitchen, and two bedrooms. Two enclosed porches provide additional usable space, with one porch offering convenient washer and dryer hookups. The home is finished with low-maintenance siding and includes a detached one-car garage/workshop in the backyard complete with lights and electricity -- perfect for storage, hobbies, or a workspace. Enjoy the privacy of a fenced backyard with room for pets, gardening, or entertaining. Great opportunity for first-time homebuyers, downsizers, or investors looking for property wit

Key facts

• Fenced backyard
• Spacious living room
• Two enclosed porches

Tags

• SPACIOUS LIVING ROOM
• TWO ENCLOSED PORCHES
• WASHER AND DRYER HOOKUPS
• LOW-MAINTENANCE SIDING
• DETACHED GARAGE WORKSHOP
• FENCED BACKYARD

Property features AI

Exterior

• Parking: Detached concrete garage; 1 garage space; 1 total parking space
• Utilities: Cable available; Sewer connected; Water connected
• Home design: Single-family residence; One story; Entry on level 1
• Construction: Vinyl siding and frame construction; Block foundation
• Exterior features: Enclosed patio/porch; Rear porch; Side porch; Chain link fencing around back yard; Shingle roof; Has a view

Interior

• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Propane heating
• Interior features: Ceiling fans; Window coverings; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $128k).
• Recommended offer: $124k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: Lucile Souders Elementary (math 22% / reading 27%, grade F, #1,112 of 1,410 statewide, top 82%, 418 students, 99% FRL); Luther Nick Jeralds Middle (math 13% / reading 24%, grade F, #436 of 475 statewide, top 93%, 616 students, 100% FRL); E E Smith High (math 42% / reading 41%, grade F, #381 of 535 statewide, top 72%, 1,004 students, 99% FRL) — zoned schools average 99% FRL vs 55% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 135 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• This rent runs 40% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $12k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $128k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $124,160 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.13%
• DSCR: 1.23
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $177,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 W Circle Ct	0.07mi	2/1.0	1,016 (-7%)	2mo	$45,000	$44	84
200 Northwest Ave	0.24mi	3/1.0 (+1)	1,064 (-2%)	5mo	$100,000	$94	76
128 W Circle Ct	0.06mi	3/1.0 (+1)	995 (-8%)	3mo	$165,000	$166	76
210 Northwest Ave	0.26mi	3/2.0 (+1)	1,176 (+8%)	4mo	$102,000	$87	62
400 Abbottswood Dr	0.48mi	3/2.0 (+1)	1,121 (+3%)	4mo	$190,000	$169	60
2846 Copenhagen Dr	0.53mi	3/2.0 (+1)	1,122 (+3%)	2mo	$140,000	$125	59
3037 Wedgewood Dr	0.57mi	3/2.0 (+1)	1,130 (+4%)	0mo	$205,000	$181	58
1917 Dogwood St	0.71mi	3/1.0 (+1)	1,050 (-4%)	2mo	$85,000	$81	55
3308 Melba Dr	0.70mi	3/2.0 (+1)	1,127 (+4%)	2mo	$191,000	$169	50
532 Crooked Creek Ct	0.59mi	3/2.0 (+1)	1,188 (+9%)	3mo	$203,000	$171	46
520 Stone Way Ct	0.53mi	3/2.0 (+1)	1,247 (+15%)	3mo	$180,000	$144	40
1920 Dogwood St	0.72mi	3/2.0 (+1)	1,230 (+13%)	3mo	$199,900	$163	34

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

Projected returns pro-forma

-3.0% appreciation · 3.49% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-10,316
• Equity at exit: $19,085

10-year hold

• IRR: 2.4%
• Equity multiple: 1.18×
• Total profit: $6,331
• Equity at exit: $11,067

Cash invested: $35,840 (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 28301

• Home prices YoY: -12.5%
• Rents YoY: 3.5%
• Active inventory: 135
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,305 high
• Mortgage (P&I): −$671
• Tax from tax record: −$153 /mo · $1,838/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $153

Break-even live

Break-even rent $1,111

Max offer price $128,000

Occupancy floor 83%

Sensitivity live

Price	-10% $226	-5% $190	+0% $153	+5% $117	+10% $81
Rent	-10% $50	-5% $102	+0% $153	+5% $205	+10% $256
Rate	-1.0pp $218	-0.5pp $186	base $153	+0.5pp $120	+1.0pp $86

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Circle Ct Fayetteville, NC	3.0	2.0	1496	$1,550	$1.04	15d	1	0.09mi
216 Brainerd Ave Fayetteville, NC	2.0	1.0	818	$1,150	$1.41	24d	1	0.20mi
2737 Kentberry Ave Fayetteville, NC	2.0–3.0	2.0	1209	$1,300	$1.08	15d	5	0.25mi
508 Stone Way Ct Fayetteville, NC	3.0	2.0	1261	$1,900	$1.51	24d	1	0.54mi
2846 Copenhagen Dr Fayetteville, NC	3.0	2.0	1100	$1,600	$1.45	24d	1	0.55mi
2678 Rivercliff Rd Fayetteville, NC	3.0	2.0	1260	$1,500	$1.19	24d	1	0.59mi
110 Facility Dr #2015 Fayetteville, NC	2.0	1.0	700	$995	$1.42	24d	1	0.60mi
2015 Blake St Fayetteville, NC	2.0	1.0	700	$995	$1.42	24d	1	0.61mi
539 Crooked Creek Ct Fayetteville, NC	3.0	2.0	1258	$1,395	$1.11	24d	1	0.63mi
2061 Osceola Dr Fayetteville, NC	3.0	1.0	928	$1,300	$1.40	24d	1	0.67mi
398 Bainbridge Ct Fayetteville, NC	3.0	2.0	900	$990	$1.10	15d	1	0.76mi
398 Bainbridge Ct Fayetteville, NC	3.0	2.0	900	$990	$1.10	24d	1	0.76mi
1847 Blake St Fayetteville, NC	3.0	2.0	900	$990	$1.10	24d	1	0.88mi
1847 Blake St Fayetteville, NC	3.0	2.0	900	$990	$1.10	15d	1	0.88mi
302 Law Rd Fayetteville, NC	2.0	1.5	940	$999	$1.06	15d	1	0.97mi
633 Elk Ct Fayetteville, NC	2.0	1.5	1000	$1,000	$1.00	24d	1	0.99mi
1606 Gibson St Fayetteville, NC	3.0	1.5	1014	$1,000	$0.99	24d	1	1.02mi
1608 Fayette Ave Fayetteville, NC	2.0	1.0	900	$875	$0.97	15d	1	1.04mi
1608 Fayette Ave Fayetteville, NC	2.0	1.0	900	$875	$0.97	24d	1	1.04mi
302 Brookwood Ave Fayetteville, NC	2.0	1.0	979	$1,250	$1.28	15d	1	1.07mi
112 Quincy St Fayetteville, NC	3.0	1.0	1080	$1,320	$1.22	15d	1	1.14mi
122 Kensington Cir Fayetteville, NC	3.0	1.0	856	$1,250	$1.46	24d	1	1.20mi
113 Mullins Ave Fayetteville, NC	2.0	1.0	1000	$1,025	$1.02	24d	1	1.32mi
733 Ashburton Dr Fayetteville, NC	3.0	1.5	1118	$1,300	$1.16	24d	1	1.39mi
307 Hawthorne Rd Fayetteville, NC	3.0	1.0	886	$1,125	$1.27	15d	1	1.41mi
715 Ashburton Dr Fayetteville, NC	3.0	2.0	1278	$1,600	$1.25	24d	1	1.42mi

Listing history 25 events

1. 2026-06-21
   days on market $128,000 Active 46 DOM
2. 2026-06-18
   days on market $128,000 Active 43 DOM
3. 2026-06-17
   price $128,000 Active 42 DOM
4. 2026-06-17
   days on market $129,000 Active 42 DOM
5. 2026-06-16
   days on market $129,000 Active 41 DOM
6. 2026-06-15
   days on market $129,000 Active 40 DOM
7. 2026-06-14
   days on market $129,000 Active 38 DOM
8. 2026-06-13
   pricedays on market $129,000 Active 37 DOM
9. 2026-06-10
   days on market $130,000 Active 35 DOM
10. 2026-06-09
    days on market $130,000 Active 34 DOM
11. 2026-06-08
    days on market $130,000 Active 33 DOM
12. 2026-06-07
    days on market $130,000 Active 32 DOM
13. 2026-06-03
    days on market $130,000 Active 28 DOM
14. 2026-06-02
    days on market $130,000 Active 27 DOM
15. 2026-06-01
    days on market $130,000 Active 26 DOM
16. 2026-05-31
    days on market $130,000 Active 25 DOM
17. 2026-05-30
    days on market $130,000 Active 24 DOM
18. 2026-05-19
    price $130,000
19. 2026-05-06
    listed $140,000 Active
20. 2018-03-16
    listed $59,000
21. 2017-07-20
    listed $63,500
22. 2007-09-28
    soldstatus $55,000
23. 1998-06-05
    soldstatus $53,000
24. 1994-01-06
    soldstatus $36,500
25. 1990-05-16
    soldstatus $27,500

ⓘ 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: $1,838 · $153/mo
• Projected year-2 tax: $1,838 · $153/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 4/10 Moderate
• 🌡 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,661
• − Mortgage interest: −$7,170
• − Property taxes: −$1,838
• − Insurance: −$640
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − Depreciation: −$3,724
• Taxable loss: −$216
• Est. tax savings @ 24.0%: +$52
• After-tax cash flow: $1,891/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): 16,798
• Household income: $39,198
• Rent vs Own: 64.7% rent · 35.3% own
• Severe rent burden: 1389.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 19% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -37.92%
• Current HPI: 265.98
• Rent YoY: ▲ 3.49%
• 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

+372.7% since first listed

8 events — show timeline

• 2026-05-19 Price Changed $130,000 Hive MLS
• 2026-05-06 Listed $140,000 Hive MLS
• 2018-03-16 Listed $59,000 LPRMLS
• 2017-07-20 Listed $63,500 LPRMLS
• 2007-09-28 Sold (Public Records) $55,000 Public Records
• 1998-06-05 Sold (Public Records) $53,000 Public Records
• 1994-01-06 Sold (Public Records) $36,500 Public Records
• 1990-05-16 Sold (Public Records) $27,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,838 · +45.0% YoY. Source: county tax records.