116 N Wright St · Raeford, NC 28376

$129,900

3 bd · 1.0 ba · 1,012 sqft · SingleFamily public records · 99 Days on market

Built 1951 Est $148k · 12% under ↓ 9% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +12.9/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• 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

Minutes from downtown Raeford, this 3 bedroom / 1 bath home is looking for a buyer that likes a cozy cute structure. You will walk into a home with a bonus side room and newly painted walls throughout. Come take a sit in the eat-in kitchen. Attached to the kitchen is the laundry space where you can open the door to the great outdoor area. The yard is spacious with plenty of possibilities; it also features a fenced-in backyard. When you step outside you will be minutes from the business district and restaurants. Seller credit of $5,000 for closing cost for full offer.

Key facts

• Spacious yard
• Laundry space
• Eat-in kitchen

Tags

• BONUS SIDE ROOM
• EAT-IN KITCHEN
• LAUNDRY SPACE
• FENCED-IN BACKYARD
• SPACIOUS YARD
• GREAT OUTDOOR AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $898 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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% 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 $118,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 11.21%
• Cash-on-cash: 17.57%
• DSCR: 1.78
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $147,752
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 N Wright St	0.03mi	2/1.5 (-1)	957 (-5%)	3mo	$115,000	$120	80
201 S Dickson St	0.14mi	3/1.0	1,025 (+1%)	19mo	$79,000	$77	75
211 N Dickson St	0.10mi	3/1.0	1,134 (+12%)	3mo	$166,000	$146	73
226 N Dickson St	0.17mi	2/1.0 (-1)	996 (-2%)	16mo	$156,000	$157	71
419 N Wright St	0.36mi	3/1.0	1,024 (+1%)	17mo	$150,000	$146	67
211 Roberts St	0.16mi	2/1.0 (-1)	965 (-5%)	18mo	$150,000	$155	64
210 W Elwood Ave	0.44mi	2/1.0 (-1)	1,124 (+11%)	6mo	$175,000	$156	51
414 W 6th Ave	0.65mi	2/1.0 (-1)	1,026 (+1%)	20mo	$139,000	$135	46

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: 7.8%
• Equity multiple: 1.30×
• Total profit: $11,045
• Equity at exit: $19,369

10-year hold

• IRR: 16.2%
• Equity multiple: 2.26×
• Total profit: $45,950
• Equity at exit: $11,231

Cash invested: $36,372 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,655 high
• Mortgage (P&I): −$681
• Tax from tax record: −$40 /mo · $476/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $533

Break-even live

Break-even rent $981

Max offer price $129,900

Occupancy floor 63%

Sensitivity live

Price	-10% $606	-5% $569	+0% $533	+5% $496	+10% $459
Rent	-10% $402	-5% $467	+0% $533	+5% $598	+10% $663
Rate	-1.0pp $598	-0.5pp $566	base $533	+0.5pp $499	+1.0pp $465

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 N Roberts St Raeford, NC	2.0	1.0	965	$1,475	$1.53	24d	1	0.17mi
110 E 7th Ave Raeford, NC	2.0	2.0	1064	$1,200	$1.13	14d	1	0.93mi
503 E 6th Ave Raeford, NC	2.0	1.0	744	$1,100	$1.48	24d	1	1.17mi
125 Burgess Ln Raeford, NC	3.0	2.5	1460	$1,600	$1.10	24d	1	1.17mi
122 Sherman Ct Unit 122 Raeford, NC	3.0	2.5	1400	$1,600	$1.14	24d	1	1.19mi

Listing history 3 events

1. 2025-10-08
   status Pending
2. 2025-09-03
   price $129,900
3. 2025-07-01
   listed $142,000 Active

ⓘ 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: $476 · $40/mo
• Projected year-2 tax: $1,065 · $89/mo
• Expected delta: +$589/yr (+$49/mo · 123.7%)

ⓘ 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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $19,863
• − Mortgage interest: −$7,276
• − Property taxes: −$476
• − Insurance: −$650
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$3,779
• Taxable income: $4,504
• Est. tax owed @ 24.0%: −$1,081
• After-tax cash flow: $5,311/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

• Census place: Raeford, NC
• County: Hoke County · 44,880 people
• 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

-8.5% since first listed

3 events — show timeline

• 2025-10-08 Pending — LPRMLS
• 2025-09-03 Price Changed $129,900 LPRMLS
• 2025-07-01 Listed $142,000 LPRMLS

Property tax history

+0.9%/yr

Latest (2025): $476 · +0.0% YoY. Source: county tax records.