508 E 6th Ave · Raeford, NC 28376

$129,900

3 bd · 1.0 ba · 1,220 sqft · SingleFamily public records · 48 Days on market

Built 1951 Est $190k · 32% under

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in the heart of downtown Raeford! This 3 bedroom, 2 full bath home with a spacious backyard offers excellent potential for both homeowners and investors. Step inside to a spacious living room that provides direct access to the primary bedroom and a full bath, creating a functional and comfortable layout. The kitchen features a cozy dining area, perfect for everyday meals and gatherings, with a conveniently located laundry room just off the kitchen. On the opposite side of the home, you’ll find two additional bedrooms along with a full hall bath, offering privacy and flexibility for family, guests, or a home office.

Key facts

• Built 1951
• Listed 48 days

Property features AI

Finance

• Other: Located in the Raeford subdivision; Directions: best to use GPS

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Level lot

Interior

• Kitchen: Cooktop
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Cooktop; Crawl space basement
• Laundry & utility: Washer hookup; In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 5.4% in Raeford — 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 76/100 on livability (#39 in NC, #3,562 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F, employment F.
• Hoke County Schools (suburban): math 35% / reading 40% proficiency, ranked #123 of 178 in NC (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hoke County High (math 42% / reading 44%, grade F, #372 of 535 statewide, top 69%, 2,060 students, 100% FRL) — zoned schools average 100% FRL vs 57% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.9%/yr); 566 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 685 units permitted in Hoke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hoke County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% 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 $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1951 — 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. 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?
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: 1.19% ✓
• Cap rate: 10.32%
• Cash-on-cash: 14.39%
• DSCR: 1.64
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $190,320
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 E Donaldson Ave	0.33mi	3/2.0	1,248 (+2%)	5mo	$205,000	$164	73
206 E Prospect Ave	0.34mi	3/2.0	1,123 (-8%)	5mo	$165,000	$147	63
712 N Jackson St	0.15mi	3/2.0	1,320 (+8%)	18mo	$229,900	$174	60
301 E Prospect Ave	0.26mi	3/2.0	1,158 (-5%)	23mo	$167,000	$144	56
820 E Donaldson Ave	0.53mi	3/1.5	1,341 (+10%)	4mo	$189,900	$142	53
174 Woodcrest Jones Dr	0.56mi	3/2.0	1,330 (+9%)	4mo	$269,999	$203	52
924 Stevens St	0.50mi	3/2.0	1,330 (+9%)	10mo	$257,000	$193	50
212 Reaves St	0.64mi	3/1.0	1,193 (-2%)	21mo	$149,900	$126	49
975 E Central Ave	0.70mi	2/2.0 (-1)	1,290 (+6%)	7mo	$110,000	$85	43
210 W Elwood Ave	0.74mi	2/1.0 (-1)	1,124 (-8%)	6mo	$175,000	$156	42

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 · 1.92% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $5,017
• Equity at exit: $19,369

10-year hold

• IRR: 12.2%
• Equity multiple: 1.91×
• Total profit: $33,267
• Equity at exit: $11,231

Cash invested: $36,372 (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 28376

• Home prices YoY: -24.0%
• Rents YoY: 1.9%
• Active inventory: 566
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,550 high
• Mortgage (P&I): −$681
• Tax from tax record: −$53 /mo · $636/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $436

Break-even live

Break-even rent $998

Max offer price $129,900

Occupancy floor 67%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
503 E 6th Ave Raeford, NC	2.0	1.0	744	$1,100	$1.48	23d	1	0.03mi
110 E 7th Ave Raeford, NC	2.0	2.0	1064	$1,200	$1.13	14d	1	0.37mi
122 Sherman Ct Unit 122 Raeford, NC	3.0	2.5	1400	$1,600	$1.14	23d	1	0.47mi
125 Burgess Ln Raeford, NC	3.0	2.5	1460	$1,600	$1.10	23d	1	0.48mi
211 N Roberts St Raeford, NC	2.0	1.0	965	$1,475	$1.53	23d	1	1.02mi

Listing history 30 events

1. 2026-06-18
   days on market $129,900 Active 48 DOM
2. 2026-06-17
   days on market $129,900 Active 47 DOM
3. 2026-06-16
   days on market $129,900 Active 46 DOM
4. 2026-06-15
   days on market $129,900 Active 45 DOM
5. 2026-06-14
   days on market $129,900 Active 43 DOM
6. 2026-06-13
   days on market $129,900 Active 42 DOM
7. 2026-06-10
   days on market $129,900 Active 40 DOM
8. 2026-06-09
   days on market $129,900 Active 39 DOM
9. 2026-06-08
   days on market $129,900 Active 38 DOM
10. 2026-06-07
    days on market $129,900 Active 37 DOM
11. 2026-06-05
    days on market $129,900 Active 34 DOM
12. 2026-06-03
    days on market $129,900 Active 33 DOM
13. 2026-06-02
    days on market $129,900 Active 32 DOM
14. 2026-06-01
    days on market $129,900 Active 31 DOM
15. 2026-05-31
    days on market $129,900 Active 30 DOM
16. 2026-05-30
    days on market $129,900 Active 29 DOM
17. 2026-05-01
    listed $129,900 Active
18. 2025-01-21
    historical $1,500
19. 2025-01-07
    listed $1,500
20. 2024-12-02
    historical
21. 2024-10-21
    historical $1,595
22. 2024-10-16
    listed $1,595
23. 2024-10-16
    historical $1,595
24. 2024-10-10
    price $190,000
25. 2024-09-14
    listed $195,000 Active
26. 2024-05-01
    listed $1,595
27. 2024-02-28
    price $189,900
28. 2024-01-13
    listed $199,900 Active
29. 2023-12-08
    historical $1,595
30. 2023-10-20
    listed $1,595

ⓘ 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: $636 · $53/mo
• Projected year-2 tax: $1,065 · $89/mo
• Expected delta: +$429/yr (+$36/mo · 67.4%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $18,600
• − Mortgage interest: −$7,276
• − Property taxes: −$636
• − Insurance: −$650
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$3,779
• Taxable income: $3,283
• Est. tax owed @ 24.0%: −$788
• After-tax cash flow: $4,446/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: Hoke County Schools
• NCES district ID: 3702250
• Math proficiency: 35% ▼ -1.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $43,896
• Composite: 31.82/100
• National rank: #5880
• State rank: #123 of 178 in NC

Livability — Raeford

• Score: 76/100
• State rank: #39
• US rank: #3562

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raeford, NC
• County: Hoke County · 44,880 people
• City population: 44,880
• Metro: Fayetteville, NC
• Population (ZIP): 44,880
• Household income: $66,471
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 897.0

Population outlook (Hoke County) Hauer SSP2

• Today (2025): 63,354 people
• By 2030: 68,361 · +7.9%
• By 2040: 78,074 · +23.2%
• By 2050: 86,384 · +36.4%
• By 2075: 99,517 · +57.1%
• By 2100: 98,939 · +56.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 38% Black 35% Hispanic / Latino 15% Two or more races 9% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 8% French/Haitian/Cajun 1%

Political lean MEDSL · Hoke

• 2024 margin: Lean D (+5.9) · D 52.4% · R 46.4% · Other 1.2%
• 2008→2024 swing: -12.8pp toward R · 2008: 18.8pp · 2024: 5.9pp
• All cycles: 2024: D+5.9 2020: D+10.9 2016: D+10.8 2012: D+19.0 2008: D+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.30%
• Current HPI: 169.1801
• Rent YoY: ▲ 1.92%
• 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

+8044.2% since first listed

14 events — show timeline

• 2026-05-01 Listed $129,900 LPRMLS
• 2025-01-21 Rental Removed $1,500 TMLS
• 2025-01-07 Listed for Rent $1,500 TMLS
• 2024-12-02 Listing Removed — TMLS
• 2024-10-21 Rental Removed $1,595 RENTALBEAST
• 2024-10-16 Listed for Rent $1,595 RENTALBEAST
• 2024-10-16 Rental Removed $1,595 APPFOLIO
• 2024-10-10 Price Changed $190,000 TMLS
• 2024-09-14 Listed $195,000 TMLS
• 2024-05-01 Listed for Rent $1,595 APPFOLIO
• 2024-02-28 Price Changed $189,900 LPRMLS
• 2024-01-13 Listed $199,900 LPRMLS
• 2023-12-08 Rental Removed $1,595 APPFOLIO
• 2023-10-20 Listed for Rent $1,595 APPFOLIO

Property tax history

+1.4%/yr

Latest (2025): $636 · +0.0% YoY. Source: county tax records.