420 Wallace Mclean Rd · Raeford, NC 28376

$150,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 33 Days on market

Built 1963 0.51 ac lot Est $158k · 5% 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 +9.9/15.0
• DSCR +6.3/10.0
• 1% rule +4.3/10.0
• 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 MLS

Super cute 2 bedroom, 1 bath home in Hoke County - interior features, living room, den or formal dining, eat-in kitchen area - hardwoods in living and electric fireplace. hardwoods in formal dining area. New carpet in bedrooms with hardwoods underneath. Tile in kitchen dining area. Range, Refrigerator, Microwave and stackable washer and dryer remain. Exterior is amazing - approximately . 56 acre lot with covered RV parking and 30 amp breaker. 12 x 12 wired shed and lean to area. Wonderful huge wired Gazebo with firepot in middle and open - cabinets around inside. Approximate ages include Roof 7 years, windows 12, years, heatpump 25 years - swamp area behind property

Key facts

• Spacious yard
• Covered carport
• Outbuildings

Tags

• COVERED CARPORT
• OUTBUILDINGS
• ABUNDANT STORAGE
• SPACIOUS YARD

Property features AI

Exterior

• Parking: No garage; Carport (1 covered space)
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank and holding tank
• Home design: Single family residence; Residential property; Level topography; Paved, public-maintained road access; Subdivision: RAEFORD
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Front porch; Porch; Partial fencing; Storage; Storm door(s)

Interior

• Kitchen: Range; Microwave
• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Flooring: Hardwood; Tile; Vinyl; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump; Ceiling fan(s)
• Interior features: Ceiling fans; Electric fireplace; Storage
• Laundry & utility: Stacked washer/dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/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 $139k (7.4% below list).
• Recommended offer: $139k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: West Hoke Middle (math 23% / reading 32%, grade F, #368 of 475 statewide, top 78%, 576 students, 100% FRL); 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; 2 comparable units currently listed for rent nearby; 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 $1k 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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $125k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 72% 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 $138,852 (7.4% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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: 0.93% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $158,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
390 Wallace Mclean Rd	0.02mi	3/1.0 (+1)	878 (-8%)	20mo	$145,000	$165	63

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: -9.5%
• Equity multiple: 0.66×
• Total profit: $-14,482
• Equity at exit: $22,365

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-4,175
• Equity at exit: $12,969

Cash invested: $42,000 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,389 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$69 /mo · $832/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $179

Break-even live

Break-even rent $1,163

Max offer price $150,000

Occupancy floor 82%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
710 S Bethel Rd Unit 4 Raeford, NC	1.0	1.0	565	$800	$1.42	23d	1	0.38mi
211 N Roberts St Raeford, NC	2.0	1.0	965	$1,475	$1.53	23d	1	0.92mi

Listing history 22 events

1. 2026-06-17
   status $150,000 Pending 33 DOM
2. 2026-06-17
   days on market $150,000 Active 33 DOM
3. 2026-06-16
   days on market $150,000 Active 32 DOM
4. 2026-06-15
   days on market $150,000 Active 31 DOM
5. 2026-06-14
   days on market $150,000 Active 29 DOM
6. 2026-06-13
   days on market $150,000 Active 28 DOM
7. 2026-06-10
   days on market $150,000 Active 26 DOM
8. 2026-06-09
   days on market $150,000 Active 25 DOM
9. 2026-06-08
   days on market $150,000 Active 24 DOM
10. 2026-06-07
    days on market $150,000 Active 23 DOM
11. 2026-06-05
    days on market $150,000 Active 20 DOM
12. 2026-06-03
    days on market $150,000 Active 19 DOM
13. 2026-06-02
    days on market $150,000 Active 18 DOM
14. 2026-06-01
    days on market $150,000 Active 17 DOM
15. 2026-05-31
    days on market $150,000 Active 16 DOM
16. 2026-05-30
    days on market $150,000 Active 15 DOM
17. 2026-05-15
    listed $150,000 Active
18. 2024-01-10
    soldstatus $125,000 Closed 679-char remark

    Show marketing remark (679 chars)

    Super cute 2 bedroom, 1 bath home in Hoke County - interior features, living room, den or formal dining, eat-in kitchen area - hardwoods in living and electric fireplace. hardwoods in formal dining area. New carpet in bedrooms with hardwoods underneath. Tile in kitchen dining area. Range, Refrigerator, Microwave and stackable washer and dryer remain. Exterior is amazing - approximately . 56 acre lot with covered RV parking and 30 amp breaker. 12 x 12 wired shed and lean to area. Wonderful huge wired Gazebo with firepot in middle and open - cabinets around inside. Approximate ages include Roof 7 years, windows 12, years, heatpump 25 years - swamp area behind property

19. 2024-01-10
    soldstatus $125,000

    Show marketing remark (679 chars)

    Super cute 2 bedroom, 1 bath home in Hoke County - interior features, living room, den or formal dining, eat-in kitchen area - hardwoods in living and electric fireplace. hardwoods in formal dining area. New carpet in bedrooms with hardwoods underneath. Tile in kitchen dining area. Range, Refrigerator, Microwave and stackable washer and dryer remain. Exterior is amazing - approximately . 56 acre lot with covered RV parking and 30 amp breaker. 12 x 12 wired shed and lean to area. Wonderful huge wired Gazebo with firepot in middle and open - cabinets around inside. Approximate ages include Roof 7 years, windows 12, years, heatpump 25 years - swamp area behind property

20. 2023-12-02
    status Pending 679-char remark

    Show marketing remark (679 chars)

    Super cute 2 bedroom, 1 bath home in Hoke County - interior features, living room, den or formal dining, eat-in kitchen area - hardwoods in living and electric fireplace. hardwoods in formal dining area. New carpet in bedrooms with hardwoods underneath. Tile in kitchen dining area. Range, Refrigerator, Microwave and stackable washer and dryer remain. Exterior is amazing - approximately . 56 acre lot with covered RV parking and 30 amp breaker. 12 x 12 wired shed and lean to area. Wonderful huge wired Gazebo with firepot in middle and open - cabinets around inside. Approximate ages include Roof 7 years, windows 12, years, heatpump 25 years - swamp area behind property

21. 2023-11-29
    listed $125,000 Active 679-char remark

    Show marketing remark (679 chars)

    Super cute 2 bedroom, 1 bath home in Hoke County - interior features, living room, den or formal dining, eat-in kitchen area - hardwoods in living and electric fireplace. hardwoods in formal dining area. New carpet in bedrooms with hardwoods underneath. Tile in kitchen dining area. Range, Refrigerator, Microwave and stackable washer and dryer remain. Exterior is amazing - approximately . 56 acre lot with covered RV parking and 30 amp breaker. 12 x 12 wired shed and lean to area. Wonderful huge wired Gazebo with firepot in middle and open - cabinets around inside. Approximate ages include Roof 7 years, windows 12, years, heatpump 25 years - swamp area behind property

22. 2012-06-27
    soldstatus $50,000

ⓘ 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: $832 · $69/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$398/yr (+$33/mo · 47.9%)

ⓘ 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 6/10 Major 72% 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: $16,662
• − Mortgage interest: −$8,402
• − Property taxes: −$832
• − Insurance: −$750
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$4,364
• Taxable loss: −$351
• Est. tax savings @ 24.0%: +$84
• After-tax cash flow: $2,226/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

• 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

+200.0% since first listed

6 events — show timeline

• 2026-05-15 Listed $150,000 LPRMLS
• 2024-01-10 Sold (Public Records) $125,000 Public Records
• 2024-01-10 Sold (MLS) $125,000 LPRMLS
• 2023-12-02 Pending — LPRMLS
• 2023-11-29 Listed $125,000 LPRMLS
• 2012-06-27 Sold (Public Records) $50,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $832 · +43.0% YoY. Source: county tax records.