118 Folly Ct · Linden, NC 28356

$295,000

3 bd · 2.5 ba · 2,020 sqft · SingleFamily public records · 58 Days on market

Built 2018 Est $305k · at est. $10/mo HOA · 1% of rent

---

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).

• Appreciation +10.0/10.0
• ARV discount +9.0/15.0
• Cash flow +7.7/30.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.4/10.0

Listing remarks MLS

-NEW FLOORPLANS AT SWEETWATER: THE PLEASANTVILLE...Just how it sounds!Pleasing to the eyes and the wallet! Beautifully appointed Ivvercon designed and built homes provides homebuyers with signature builder finishes & quality construction not commonly found at this price. 100% USDA Financing available for qualified buyers. Contact our team to learn more about our builders, floorplans and homeownership opportunity here at Sweetwater. Easy to own and easy to love your Ivercon built home!

Key facts

• 2 garage spots
• Built 2018
• Listed 58 days

Property features AI

Finance

• Other: Located in the Sweetwater subdivision
• HOA & community: Homeowners association with an annual fee of $115 (about $9.58/month)

Exterior

• Parking: Attached 2-car garage (2 covered spaces)
• Security: Security system
• Utilities: Public water; Holding tank or septic tank sewer
• Home design: Single family residence; Two-story
• Construction: Brick veneer and vinyl siding over frame construction
• Exterior features: Covered front porch

Interior

• Kitchen: Refrigerator; Built-in electric range; Dishwasher
• Bedrooms: Bedrooms count not specified
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air; Whole house fan
• Interior features: Eat-in kitchen; Pantry; Soaking tub; Walk-in closets; Window coverings and blinds; Gas log fireplace (1)
• Laundry & utility: Washer hookup in unit on main level; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $-342 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (36.4% below list).
• Recommended offer: $188k (36.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#344 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute 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: Anderson Creek Primary (582 students, 61% FRL); Overhills Middle (math 29% / reading 40%, grade F, #292 of 475 statewide, top 62%, 799 students, 61% FRL); Overhills High (math 52% / reading 63%, grade C, #245 of 535 statewide, top 46%, 1,971 students, 47% FRL).
• Market conditions: 59 active listings in the ZIP; 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $190k; list at $295k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,624 (36.4% 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. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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 D 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: 0.64% ✗
• Cap rate: 4.90%
• Cash-on-cash: -4.97%
• DSCR: 0.78
• GRM: 13.1

CMA / ARV

• ARV (on-the-fly): $305,020
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
64 Hybrid Ln	0.05mi	3/2.5	2,042 (+1%)	8mo	$226,000	$111	89
66 Harvest Ct	0.09mi	3/2.5	1,977 (-2%)	20mo	$305,000	$154	76
379 Rainmaker St	0.19mi	4/2.5 (+1)	2,020 (0%)	15mo	$305,000	$151	73
18 Harvest Cts	0.13mi	3/2.5	2,197 (+9%)	11mo	$320,000	$146	70
237 Rainmaker St	0.12mi	3/2.5	1,953 (-3%)	23mo	$295,000	$151	70
51 Folly Ct	0.08mi	4/2.5 (+1)	2,230 (+10%)	8mo	$317,000	$142	68
11 Rainmaker St	0.23mi	3/2.5	1,954 (-3%)	20mo	$310,000	$159	67
58 Harvest Ct	0.10mi	4/2.5 (+1)	2,212 (+10%)	12mo	$311,000	$141	65

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 2.68×
• Total profit: $138,754
• Equity at exit: $265,759

10-year hold

• IRR: 18.8%
• Equity multiple: 6.15×
• Total profit: $425,551
• Equity at exit: $573,120

Cash invested: $82,600 (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 28356

• Home prices YoY: 16.1%
• Active inventory: 59
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $1,876 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$145 /mo · $1,736/yr
• Insurance: −$123
• HOA: −$10
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $-342

Break-even live

Break-even rent $2,310

Max offer price $234,512

Occupancy floor —

Sensitivity live

Price	-10% $-175	-5% $-259	+0% $-342	+5% $-426	+10% $-509
Rent	-10% $-491	-5% $-417	+0% $-342	+5% $-268	+10% $-194
Rate	-1.0pp $-194	-0.5pp $-267	base $-342	+0.5pp $-419	+1.0pp $-497

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $10 · $120/yr
• Likely covers: water

Listing history 23 events

1. 2026-06-21
   pricedays on market $295,000 Active 58 DOM
2. 2026-06-18
   days on market $299,990 Active 55 DOM
3. 2026-06-17
   days on market $299,990 Active 54 DOM
4. 2026-06-16
   days on market $299,990 Active 53 DOM
5. 2026-06-15
   days on market $299,990 Active 52 DOM
6. 2026-06-14
   remarks 505-char remark
7. 2026-06-14
   days on market $299,990 Active 50 DOM
8. 2026-06-10
   days on market $299,990 Active 47 DOM
9. 2026-06-09
   days on market $299,990 Active 46 DOM
10. 2026-06-08
    days on market $299,990 Active 45 DOM
11. 2026-06-07
    days on market $299,990 Active 44 DOM
12. 2026-06-05
    days on market $299,990 Active 41 DOM
13. 2026-06-03
    days on market $299,990 Active 40 DOM
14. 2026-06-02
    days on market $299,990 Active 39 DOM
15. 2026-06-01
    days on market $299,990 Active 38 DOM
16. 2026-05-31
    days on market $299,990 Active 37 DOM
17. 2026-05-30
    days on market $299,990 Active 36 DOM
18. 2026-04-30
    price $299,990
19. 2026-04-23
    listed $305,000 Active
20. 2018-08-23
    soldstatus $189,500 493-char remark

    Show marketing remark (497 chars)

    -NEW FLOORPLANS AT SWEETWATER: THE PLEASANTVILLE. .. Just how it sounds!Pleasing to the eyes and the wallet! Beautifully appointed Ivvercon designed and built homes provides homebuyers with signature builder finishes & quality construction not commonly found at this price. 100% USDA Financing available for qualified buyers. Contact our team to learn more about our builders, floorplans and homeownership opportunity here at Sweetwater. Easy to own and easy to love your Ivercon built home!

21. 2018-08-23
    soldstatus $189,500 497-char remark

    Show marketing remark (497 chars)

    -NEW FLOORPLANS AT SWEETWATER: THE PLEASANTVILLE. .. Just how it sounds!Pleasing to the eyes and the wallet! Beautifully appointed Ivvercon designed and built homes provides homebuyers with signature builder finishes & quality construction not commonly found at this price. 100% USDA Financing available for qualified buyers. Contact our team to learn more about our builders, floorplans and homeownership opportunity here at Sweetwater. Easy to own and easy to love your Ivercon built home!

22. 2018-02-19
    listed $189,500 493-char remark

    Show marketing remark (497 chars)

    -NEW FLOORPLANS AT SWEETWATER: THE PLEASANTVILLE. .. Just how it sounds!Pleasing to the eyes and the wallet! Beautifully appointed Ivvercon designed and built homes provides homebuyers with signature builder finishes & quality construction not commonly found at this price. 100% USDA Financing available for qualified buyers. Contact our team to learn more about our builders, floorplans and homeownership opportunity here at Sweetwater. Easy to own and easy to love your Ivercon built home!

23. 2018-02-19
    listed $189,500 497-char remark

    Show marketing remark (497 chars)

    -NEW FLOORPLANS AT SWEETWATER: THE PLEASANTVILLE. .. Just how it sounds!Pleasing to the eyes and the wallet! Beautifully appointed Ivvercon designed and built homes provides homebuyers with signature builder finishes & quality construction not commonly found at this price. 100% USDA Financing available for qualified buyers. Contact our team to learn more about our builders, floorplans and homeownership opportunity here at Sweetwater. Easy to own and easy to love your Ivercon built home!

ⓘ 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: $1,736 · $145/mo
• Projected year-2 tax: $2,419 · $202/mo
• Expected delta: +$683/yr (+$57/mo · 39.3%)

ⓘ 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 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $22,515
• − Mortgage interest: −$16,525
• − Property taxes: −$1,736
• − Insurance: −$1,475
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − HOA: −$120
• − Depreciation: −$8,582
• Taxable loss: −$9,525
• Est. tax savings @ 24.0%: +$2,286
• After-tax cash flow: $-1,823/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 — Linden

• Score: 64/100
• State rank: #344
• US rank: #13788

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,747

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 19% Hispanic / Latino 11% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Lithuanian 3% Italian 2% Serbian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▲ 40.02%
• Current HPI: 289.2973
• Rent YoY: —
• Metro: —
• 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

+58.3% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $299,990 LPRMLS
• 2026-04-23 Listed $305,000 LPRMLS
• 2018-08-23 Sold (MLS) $189,500 LPRMLS
• 2018-08-23 Sold (MLS) $189,500 TMLS
• 2018-02-19 Listed $189,500 LPRMLS
• 2018-02-19 Listed $189,500 TMLS

Property tax history

+21.1%/yr

Latest (2025): $1,736 · +0.0% YoY. Source: county tax records.