1034 Riverside Cir · Spring Lake, NC 28390

$210,000

3 bd · 2.0 ba · 1,314 sqft · SingleFamily public records · 23 Days on market

Built 1967

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Why this score? — see what drove the F 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 +9.7/30.0
• ARV discount +7.5/15.0
• Rent growth +3.6/5.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated 4-bedroom home with space for everyone! The kitchen is perfect for entertaining, featuring granite countertops, stainless steel appliances, and a large center island. A spacious bonus room at the back of the home offers the ideal spot for watching sports, hosting friends, or relaxing with family. Enjoy the privacy of a fenced-in backyard, perfect for gatherings, pets, or outdoor fun. All updates were completed in 2026, making this home move-in ready and a must-see!

Key facts

• Large center island
• Spacious bonus room
• Granite countertops

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LARGE CENTER ISLAND
• SPACIOUS BONUS ROOM
• FENCED-IN BACKYARD

Property features AI

Exterior

• Parking: Attached carport; 1 covered space; 1 carport space
• Utilities: Public water; Holding tank or septic tank sewer
• Home design: Single-family residence; Residential property
• Construction: Brick veneer and frame construction
• Exterior features: Crawl space foundation; R10 residential zoning; Subdivision: Bragg Estates

Interior

• Kitchen: Dishwasher; Microwave; Range
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump
• Interior features: Eat-in kitchen; Kitchen island; Pantry
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (29.8% below list).
• Recommended offer: $147k (29.8% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.5% in Spring Lake — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 59/100 on livability (#543 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• 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: Spring Lake Middle (math 15% / reading 31%, grade F, #406 of 475 statewide, top 86%, 512 students, 99% FRL); Pine Forest High (math 73% / reading 51%, grade B-, #184 of 535 statewide, top 37%, 1,572 students, 62% FRL) — zoned schools average 81% FRL vs 55% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 348 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $210k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; major 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 $147,328 (29.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1967 — 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. 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?
6. 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?
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 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: 0.70% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.49% rent growth · sell at horizon

5-year hold

• IRR: -19.6%
• Equity multiple: 0.31×
• Total profit: $-40,716
• Equity at exit: $31,312

10-year hold

• IRR: -9.9%
• Equity multiple: 0.36×
• Total profit: $-37,661
• Equity at exit: $18,157

Cash invested: $58,800 (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 28390

• Home prices YoY: -15.2%
• Rents YoY: 4.5%
• Active inventory: 348
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,473 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$114 /mo · $1,371/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $-139

Break-even live

Break-even rent $1,649

Max offer price $185,428

Occupancy floor —

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
415 Vass Rd Spring Lake, NC	3.0	2.0	1050	$1,300	$1.24	23d	1	0.82mi
222-232 W Manchester Rd Unit Manchester Arms Apartments Spring Lake, NC	2.0	1.0	1000	$1,200	$1.20	23d	1	1.17mi
222 W Manchester Rd Unit 222 Spring Lake, NC	2.0	1.0	1000	$1,200	$1.20	23d	1	1.17mi
222 W Manchester Rd Unit 222 Spring Lake, NC	2.0	1.0	1000	$1,200	$1.20	21d	1	1.17mi
157 Maranatha Cir Spring Lake, NC	3.0	2.0	1250	$1,425	$1.14	23d	1	1.21mi
1233 Wilderness Dr Spring Lake, NC	3.0	2.0	1852	$1,700	$0.92	23d	1	1.34mi

Listing history 11 events

1. 2026-06-07
   status $210,000 Pending 23 DOM
2. 2026-06-03
   days on market $210,000 Active 23 DOM
3. 2026-06-02
   days on market $210,000 Active 22 DOM
4. 2026-06-01
   days on market $210,000 Active 21 DOM
5. 2026-05-31
   days on market $210,000 Active 20 DOM
6. 2026-05-30
   days on market $210,000 Active 19 DOM
7. 2026-05-11
   listed $210,000 Active
8. 2026-01-05
   soldstatus $90,000
9. 1997-07-18
   soldstatus $71,000
10. 1994-01-03
    soldstatus $62,000
11. 1987-07-31
    soldstatus $49,000

ⓘ 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: $1,371 · $114/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$351/yr (+$29/mo · 25.6%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $17,679
• − Mortgage interest: −$11,763
• − Property taxes: −$1,371
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$6,109
• Taxable loss: −$5,442
• Est. tax savings @ 24.0%: +$1,306
• After-tax cash flow: $-363/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 — Spring Lake

• Score: 59/100
• State rank: #543
• US rank: #19811

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harnett County · 125,715 people
• City population: 24,000
• Metro: Fayetteville, NC
• Population (ZIP): 24,000
• Household income: $62,972
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 811.0

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 0.70)
• Race & ethnicity: White 41% Black 33% Hispanic / Latino 14% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4%
• Common ancestry: Italian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, South Korea, Jamaica
• Languages at home: 88% English-only · Spanish 8% German/W. Germanic 1% Korean 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: ▼ -37.43%
• Current HPI: 207.9349
• Rent YoY: ▲ 4.49%
• 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

+328.6% since first listed

5 events — show timeline

• 2026-05-11 Listed $210,000 LPRMLS
• 2026-01-05 Sold (Public Records) $90,000 Public Records
• 1997-07-18 Sold (Public Records) $71,000 Public Records
• 1994-01-03 Sold (Public Records) $62,000 Public Records
• 1987-07-31 Sold (Public Records) $49,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,371 · +55.9% YoY. Source: county tax records.