500 Pearl St · Fayetteville, NC 28303

$296,000

3 bd · 3.0 ba · 1,741 sqft · SingleFamily public records · 171 Days on market

Built 1948 0.26 ac lot Est $270k · 10% over

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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 +7.8/30.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• ARV discount +3.1/15.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming cottage in the heart of Haymount! This spacious 3 Bed / 3 Bath home features hardwood floors throughout. Large living room and den, kitchen-dining combo, and partially-covered deck make this home perfect for entertaining. Great corner lot with mature trees and landscaping.

Key facts

• Skylight windows
• Large backyard
• Updated kitchen

Tags

• UPDATED KITCHEN
• COZY WOOD-BURNING STOVE
• VAULTED CEILINGS
• SKYLIGHT WINDOWS
• CORNER LOT
• LARGE BACKYARD

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Open parking available with 2 spaces; Driveway
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected; Natural gas available
• Home design: Single-story house; Site-built construction; Updated/remodeled condition; Facing information not provided
• Construction: Vinyl siding; Architectural shingle roof
• Exterior features: Covered patio/porch; Deck; Partial fencing; City street frontage; Publicly maintained road

Interior

• Kitchen: Refrigerator included
• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Hardwood; Luxury vinyl; Tile
• Bathrooms: Three full bathrooms
• Heating & cooling: Forced air heating; Heat pump; Natural gas available; Central air conditioning
• Interior features: Ceiling fans; Quartz countertops; Blinds on windows
• Laundry & utility: Hall laundry

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $296k.

Deal economics

• At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (19.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (28.3% below list).
• Recommended offer: $212k (28.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#45 in NC, #4,031 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• 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: Vanstory Hills Elementary (math 46% / reading 50%, grade D, #477 of 1,410 statewide, top 35%, 469 students, 99% FRL); R Max Abbott Middle (math 31% / reading 45%, grade F, #251 of 475 statewide, top 54%, 759 students, 99% FRL); Terry Sanford High (math 49% / reading 52%, grade D+, #306 of 535 statewide, top 57%, 1,224 students, 59% FRL) — zoned schools average 86% FRL vs 55% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 285 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• This rent runs 44% of the median local income ($58k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $19k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; list at $296k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,163 (28.3% 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 171 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.72% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.70%
• DSCR: 0.79
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $269,855
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
807 Cape Fear Ave	0.32mi	3/2.0	1,670 (-4%)	1mo	$190,000	$114	74
506 Pilot Ave	0.14mi	2/2.0 (-1)	1,619 (-7%)	1mo	$223,000	$138	72
105 Westmont Dr	0.31mi	3/1.5	1,790 (+3%)	4mo	$305,000	$170	71
503 Cape Fear Ave	0.10mi	3/2.0	1,501 (-14%)	2mo	$299,500	$200	67
2015 Rock Ave	0.46mi	3/2.5	1,648 (-5%)	2mo	$255,000	$155	66
1418 General Lee Ave	0.34mi	3/2.0	1,877 (+8%)	4mo	$392,500	$209	64
1409 Grace View Pl	0.70mi	3/2.5	1,792 (+3%)	0mo	$343,000	$191	60
833 Anarine St	0.52mi	2/2.0 (-1)	1,680 (-4%)	5mo	$155,000	$92	57
901 Edenwood Dr	0.73mi	4/2.5 (+1)	1,612 (-7%)	2mo	$249,900	$155	44
1012 W Rowan St	0.64mi	4/2.0 (+1)	1,902 (+9%)	4mo	$275,000	$145	42
202 Marshall Rd	0.64mi	3/2.0	1,509 (-13%)	3mo	$238,000	$158	42
1926 N Pearl St	0.74mi	4/2.0 (+1)	1,895 (+9%)	4mo	$259,999	$137	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 · 3.01% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.17×
• Total profit: $-68,631
• Equity at exit: $44,135

10-year hold

• IRR: -19.6%
• Equity multiple: -0.04×
• Total profit: $-86,300
• Equity at exit: $25,593

Cash invested: $82,880 (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 28303

• Home prices YoY: -25.4%
• Rents YoY: 3.0%
• Active inventory: 285
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,122 high
• Mortgage (P&I): −$1,552
• Tax from tax record: −$325 /mo · $3,905/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $-325

Break-even live

Break-even rent $2,533

Max offer price $238,608

Occupancy floor —

Sensitivity live

Price	-10% $-157	-5% $-241	+0% $-325	+5% $-409	+10% $-492
Rent	-10% $-492	-5% $-409	+0% $-325	+5% $-241	+10% $-157
Rate	-1.0pp $-176	-0.5pp $-250	base $-325	+0.5pp $-402	+1.0pp $-480

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: $74,000
• Closing costs: $8,880
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
424 Pearl St Unit 1367380P Fayetteville, NC	4.0	3.0	2077	$4,419	$2.13	15d	1	0.02mi
530 Pearl St Unit 1367379P Fayetteville, NC	3.0	2.0	1194	$3,577	$3.00	15d	1	0.13mi
536 Pearl St Fayetteville, NC	2.0	1.0	1101	$1,349	$1.23	15d	1	0.16mi
1713 Fort Bragg Rd Unit 1367383P Fayetteville, NC	4.0	2.0	1894	$3,565	$1.88	15d	1	0.20mi
600 Glenville Ave Fayetteville, NC	2.0	1.5	1105	$1,295	$1.17	15d	1	0.24mi
104 Brett Ct Fayetteville, NC	2.0	2.5	1210	$1,400	$1.16	23d	1	0.29mi
809 Cape Fear Ave Fayetteville, NC	2.0	1.0	1225	$1,450	$1.18	23d	1	0.35mi
1228 Woodland Dr Unit 1 Fayetteville, NC	2.0	2.0	1465	$1,595	$1.09	15d	1	0.41mi
1507 Westlawn Ave Fayetteville, NC	2.0	2.0	1386	$1,500	$1.08	25d	1	0.43mi
2012 Fig Ct Fayetteville, NC	3.0	2.5	1676	$1,945	$1.16	25d	1	0.53mi
318 Fairwood Ct Fayetteville, NC	3.0	2.0	1126	$1,550	$1.38	25d	1	0.53mi
501 Lambert St Fayetteville, NC	2.0	2.0	1200	$1,230	$1.02	15d	3	0.54mi
211 Ellington St Fayetteville, NC	2.0	1.5	1050	$1,395	$1.33	25d	1	0.62mi
808 Ethelored St Fayetteville, NC	2.0	2.0	1701	$1,395	$0.82	25d	1	0.62mi
2209 Morganton Rd Fayetteville, NC	2.0	2.0	1163	$1,317	$1.13	15d	7	0.66mi
1100 Clarendon St #402 Fayetteville, NC	2.0	2.0	1073	$1,400	$1.30	23d	1	0.72mi
1406 Raeford Rd Fayetteville, NC	2.0	2.0	1176	$1,650	$1.40	15d	1	0.73mi
1513 Raeford Rd Fayetteville, NC	3.0	2.0	2201	$2,400	$1.09	25d	1	0.75mi
2326 Barrington Cir Fayetteville, NC	2.0	1.0	1050	$1,200	$1.14	25d	1	0.79mi
2326 Barrington Cir Fayetteville, NC	2.0	1.0	1050	$1,200	$1.14	15d	1	0.79mi
2328 Barrington Cir Fayetteville, NC	2.0	1.0	1050	$1,000	$0.95	23d	1	0.80mi
1000 Ivy Rd Fayetteville, NC	3.0	1.0	1200	$1,400	$1.17	25d	1	0.82mi
1210 Simpson St Fayetteville, NC	4.0	2.5	1917	$2,200	$1.15	25d	1	0.99mi
322 Valley Rd Fayetteville, NC	3.0	2.0	1328	$1,650	$1.24	15d	1	1.05mi
1628 Murchison Rd Fayetteville, NC	3.0	1.0	1700	$1,295	$0.76	25d	1	1.09mi
1817 McGougan Rd Fayetteville, NC	3.0	2.0	1811	$2,100	$1.16	15d	1	1.16mi
1820 McGougan Rd Fayetteville, NC	3.0	2.5	1967	$1,850	$0.94	25d	1	1.19mi
708 Marketview Ct Fayetteville, NC	3.0	2.0	1584	$1,700	$1.07	25d	1	1.20mi
571 Winding Creek Rd Unit F Fayetteville, NC	3.0	2.5	1452	$1,295	$0.89	15d	1	1.20mi
1704 Newark Ave Fayetteville, NC	2.0	1.0	1100	$850	$0.77	25d	1	1.22mi
807 Branson St #2 Fayetteville, NC	3.0	2.0	1304	$1,350	$1.04	25d	1	1.23mi
421 Cityview Ln Fayetteville, NC	2.0	2.5	1050	$1,700	$1.62	25d	1	1.25mi
452 Cityview Ln Fayetteville, NC	2.0	2.5	1088	$1,200	$1.10	25d	1	1.27mi

Listing history 14 events

1. 2026-05-31
   days on market $296,000 Active 171 DOM
2. 2026-05-30
   days on market $296,000 Active 170 DOM
3. 2026-04-24
   price $296,000
4. 2026-03-30
   price $297,500
5. 2026-03-19
   price $305,000
6. 2026-01-31
   price $310,000
7. 2025-12-11
   listed $315,000 Active
8. 2021-01-11
   soldstatus $170,000 282-char remark

   Show marketing remark (282 chars)

   Charming cottage in the heart of Haymount! This spacious 3 Bed / 3 Bath home features hardwood floors throughout. Large living room and den, kitchen-dining combo, and partially-covered deck make this home perfect for entertaining. Great corner lot with mature trees and landscaping.

9. 2021-01-11
   soldstatus $170,000

   Show marketing remark (282 chars)

   Charming cottage in the heart of Haymount! This spacious 3 Bed / 3 Bath home features hardwood floors throughout. Large living room and den, kitchen-dining combo, and partially-covered deck make this home perfect for entertaining. Great corner lot with mature trees and landscaping.

10. 2020-09-08
    listed $185,000 282-char remark

    Show marketing remark (282 chars)

    Charming cottage in the heart of Haymount! This spacious 3 Bed / 3 Bath home features hardwood floors throughout. Large living room and den, kitchen-dining combo, and partially-covered deck make this home perfect for entertaining. Great corner lot with mature trees and landscaping.

11. 2014-06-30
    historical
12. 2013-11-25
    listed $194,900
13. 1998-12-18
    soldstatus $105,000
14. 1994-09-08
    soldstatus $85,500

ⓘ 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: $3,905 · $325/mo
• Projected year-2 tax: $3,905 · $325/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,460
• − Mortgage interest: −$16,581
• − Property taxes: −$3,905
• − Insurance: −$1,480
• − Repairs & maintenance: −$2,037
• − Management: −$2,037
• − Depreciation: −$8,611
• Taxable loss: −$9,190
• Est. tax savings @ 24.0%: +$2,206
• After-tax cash flow: $-1,693/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 — Fayetteville

• Score: 75/100
• State rank: #45
• US rank: #4031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fayetteville, NC
• County: Cumberland County · 265,314 people
• City population: 226,118
• Metro: Fayetteville, NC
• Population (ZIP): 30,965
• Household income: $58,223
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1370.0

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 39% Black 37% Two or more races 11% Hispanic / Latino 10% Asian 4% Pacific Islander 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 3% Serbian 1% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 7% Other Asian/Pacific 2% 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: ▼ -77.14%
• Current HPI: 226.5097
• Rent YoY: ▲ 3.01%
• 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

+246.2% since first listed

12 events — show timeline

• 2026-04-24 Price Changed $296,000 TMLS
• 2026-03-30 Price Changed $297,500 TMLS
• 2026-03-19 Price Changed $305,000 TMLS
• 2026-01-31 Price Changed $310,000 TMLS
• 2025-12-11 Listed $315,000 TMLS
• 2021-01-11 Sold (Public Records) $170,000 Public Records
• 2021-01-11 Sold (MLS) $170,000 LPRMLS
• 2020-09-08 Listed $185,000 LPRMLS
• 2014-06-30 Listing Removed — TMLS
• 2013-11-25 Listed $194,900 TMLS
• 1998-12-18 Sold (Public Records) $105,000 Public Records
• 1994-09-08 Sold (Public Records) $85,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $3,905 · +33.3% YoY. Source: county tax records.