904 N Mckay Ave · Dunn, NC 28334

$189,900

3 bd · 1.5 ba · 1,456 sqft · SingleFamily public records · 229 Days on market

Built 1935 7,405 sqft lot Est $232k · 18% under

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ATTENTION INVESTORS!!! Amazing Opportunity to Own a DUPLEX, Live in one and Rent the other side or Continue Leasing to the Current Long-Time Tenants. Facing the Duplex, the 904 unit is on the Right with the Screened-In Porch and Single Carport. Each side of the Duplex is FOR SALE and deeded separately, 904 & 906. (View MLS for 906 N McKay Ave, Dunn, NC 28334. PRICE FOR DUPLEX IS NEGOTIABLE!) The 904 unit was Remodeled to create a 3-Bed, 2-Bath combo with Washer/Dryer Hookup. Please Contact the Listing Agent, who is also the Owner, for more details on Current Rental Income and Showtimes. SHOWINGS REQUIRE a 24-HR NOTICE FOR CURRENT TENANTS! * * * Listing Agent is Owner * * *

Key facts

• Remodeled
• Screened-in porch
• Single carport

Tags

• SCREENED-IN PORCH
• SINGLE CARPORT
• REMODELED

Property features AI

Finance

• Other: Zoned R-10; Road frontage on city street (public maintained, asphalt); Lot approximately 0.17 acre
• Financial info: Multi-family: 1 unit; Owner pays HVAC maintenance, insurance, repairs, and taxes; Tenant pays all utilities; Units not furnished
• HOA & community: No association

Exterior

• Parking: Attached carport (1 space); Open/driveway parking (1 space); On-street parking; Direct access
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected; Phone connected; Sewer and water connected
• Home design: Duplex; One story; One common wall; Updated/remodeled
• Construction: Asbestos and metal siding exterior; Asbestos shingle / fiberglass / shingle roof; Block foundation; Built/updated (owner-reported living area 1,532)
• Exterior features: Deck; Enclosed screened front porch; Outbuilding; Grassed vegetation; No pool or spa

Interior

• Kitchen: Dishwasher; Free-standing range; Refrigerator; Eat-in kitchen with Butler's pantry
• Bedrooms: 3 bedrooms
• Flooring: Luxury vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric, heat pump); Central air conditioning (electric, heat pump); Separate meters
• Interior features: Bathtub/shower combination; Walk-in shower; Built-in bookcases and built-in features; Butler's pantry; Ceiling fan(s); Eat-in kitchen; Updated/remodeled condition
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in hall and inside unit

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $58 ($694/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (19.0% below list).
• Recommended offer: $154k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).
• This rent runs 35% of the median local income ($53k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 229 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $190k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 76% 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 $153,757 (19.0% below list)

Questions for the listing agent

1. It's been on market 229 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $231,504
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1007 N King Ave	0.14mi	3/2.0	1,422 (-2%)	13mo	$258,000	$181	77
1003 Westhaven St	0.47mi	3/2.0	1,473 (+1%)	1mo	$196,000	$133	73
1304 Park Ave	0.46mi	3/2.0	1,421 (-2%)	9mo	$217,000	$153	65
311 N Layton Ave	0.37mi	3/2.0	1,350 (-7%)	9mo	$202,500	$150	61
109 E Granville St	0.33mi	3/2.0	1,368 (-6%)	16mo	$216,500	$158	59
126 Fairfield Cir	0.36mi	3/2.0	1,602 (+10%)	7mo	$280,000	$175	59
904 Willow Leaf Ct	0.51mi	3/2.0	1,389 (-5%)	10mo	$275,000	$198	58
203 N Fayetteville Ave	0.50mi	3/2.5	1,382 (-5%)	18mo	$220,000	$159	49
205 N Layton Ave	0.46mi	2/2.0 (-1)	1,360 (-7%)	15mo	$205,000	$151	48
1116 Friendly Rd	0.72mi	3/2.0	1,615 (+11%)	3mo	$220,000	$136	44
1108 Friendly Rd	0.65mi	3/2.0	1,239 (-15%)	2mo	$225,000	$182	41
1113 Merry St	0.70mi	3/2.0	1,580 (+8%)	14mo	$282,000	$178	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-27,162
• Equity at exit: $28,315

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-19,206
• Equity at exit: $16,419

Cash invested: $53,172 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,538 high
• Mortgage (P&I): −$996
• Tax from tax record: −$82 /mo · $983/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $58

Break-even live

Break-even rent $1,464

Max offer price $189,900

Occupancy floor 91%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 N Ellis Ave Dunn, NC	2.0	1.0	1100	$1,400	$1.27	13d	1	0.09mi
1001 Webster Dr Dunn, NC	1.0–3.0	1.0–1.5	900	$1,300	$1.44	12d	1	0.66mi
1617 Friendly Rd Dunn, NC	3.0	2.0	1528	$1,975	$1.29	21d	1	1.06mi
202 S Sampson Ave Dunn, NC	3.0	1.0	1418	$1,600	$1.13	13d	1	1.13mi
108 Jude Ct Dunn, NC	3.0	2.0	1350	$1,650	$1.22	21d	1	1.31mi

Listing history 12 events

1. 2026-06-08
   days on market $189,900 Active 229 DOM
2. 2026-06-07
   days on market $189,900 Active 228 DOM
3. 2026-06-05
   days on market $189,900 Active 225 DOM
4. 2026-06-03
   days on market $189,900 Active 224 DOM
5. 2026-06-02
   days on market $189,900 Active 223 DOM
6. 2026-06-01
   days on market $189,900 Active 222 DOM
7. 2026-05-31
   days on market $189,900 Active 221 DOM
8. 2026-05-30
   days on market $189,900 Active 220 DOM
9. 2026-01-23
   price $189,900
10. 2025-10-22
    listed $199,900 Active
11. 2022-03-22
    listed $299,900
12. 2019-03-11
    soldstatus $66,000

ⓘ 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: $983 · $82/mo
• Projected year-2 tax: $1,557 · $130/mo
• Expected delta: +$574/yr (+$48/mo · 58.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% 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: $18,451
• − Mortgage interest: −$10,637
• − Property taxes: −$983
• − Insurance: −$950
• − Repairs & maintenance: −$1,476
• − Management: −$1,476
• − Depreciation: −$5,524
• Taxable loss: −$2,595
• Est. tax savings @ 24.0%: +$623
• After-tax cash flow: $1,317/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

+187.7% since first listed

4 events — show timeline

• 2026-01-23 Price Changed $189,900 TMLS
• 2025-10-22 Listed $199,900 TMLS
• 2022-03-22 Listed $299,900 LPRMLS
• 2019-03-11 Sold (Public Records) $66,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $983 · +1.5% YoY. Source: county tax records.