4628 Cheltenham Rd · Fayetteville, NC 28304

$109,000

3 bd · 3.0 ba · 1,960 sqft · SingleFamily public records · 2 Days on market

Built 1964

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special! This 3-bedroom, 2.5-bath home with a double car garage presents a prime opportunity for a full renovation project. Property requires a complete remodel and is being sold as-is. All wiring has been removed from the walls—ideal for investors or contractors ready to reimagine the space from the ground up. Generous layout offers strong potential for customization and value-add improvements. Perfect for a fix-and-flip, rental investment, or rebuild. Bring your vision—this is a blank canvas ready for transformation!

Key facts

• 2 garage spots
• Built 1964
• Listed 2 days

Property features AI

Finance

• Other: Located in SHERWOOD PK subdivision

Exterior

• Parking: Attached garage; 2 covered/garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Multi/split levels; Brick veneer construction
• Construction: Brick veneer construction
• Exterior features: Sloping lot; Steep slope

Interior

• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Hardwood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Has heating (type: Other)
• Interior features: Carpet flooring; Hardwood flooring; Basement (other)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Cap rate 11.4% vs local median 4.9% in Fayetteville — 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 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: Douglas Byrd Middle (math 13% / reading 30%, grade F, #422 of 475 statewide, top 89%, 935 students, 100% FRL); Douglas Byrd High (math 22% / reading 42%, grade F, #445 of 535 statewide, top 84%, 940 students, 99% FRL) — zoned schools average 99% FRL vs 55% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 302 active listings in the ZIP; 17 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 34% of the median local income ($59k/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 $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $76k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% 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 $109,000

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.51% ✓
• Cap rate: 11.42%
• Cash-on-cash: 18.29%
• DSCR: 1.81
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $258,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1742 Martindale Dr	0.43mi	4/3.0 (+1)	1,964 (+0%)	7mo	$244,900	$125	69
1926 Martindale Dr	0.29mi	3/2.0	1,863 (-5%)	11mo	$218,000	$117	65
4642 Ashton Rd	0.13mi	3/2.5	1,718 (-12%)	10mo	$245,000	$143	63
1776 Inverness Dr	0.17mi	3/2.0	1,707 (-13%)	11mo	$140,000	$82	57
1930 Alder Rd	0.43mi	4/2.0 (+1)	1,818 (-7%)	5mo	$240,000	$132	54
1341 Camelot Dr	0.20mi	3/2.0	2,209 (+13%)	14mo	$250,000	$113	54
4312 Wavetree Dr	0.66mi	4/2.0 (+1)	1,902 (-3%)	3mo	$325,000	$171	53
2110 Lombardy Dr	0.69mi	4/3.0 (+1)	1,982 (+1%)	10mo	$250,000	$126	52
4787 Friar Ave	0.64mi	3/2.0	1,808 (-8%)	9mo	$197,000	$109	46
5409 S Sumac Cir	0.70mi	3/2.0	1,840 (-6%)	9mo	$244,000	$133	46
5425 S Sumac Cir	0.65mi	3/2.0	1,668 (-15%)	9mo	$224,900	$135	34
2169 Quailridge Dr	0.71mi	4/2.0 (+1)	1,666 (-15%)	12mo	$229,000	$137	23

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 · 3.17% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.40×
• Total profit: $12,330
• Equity at exit: $16,252

10-year hold

• IRR: 19.5%
• Equity multiple: 2.65×
• Total profit: $50,369
• Equity at exit: $9,424

Cash invested: $30,520 (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 28304

• Home prices YoY: -21.7%
• Rents YoY: 3.2%
• Active inventory: 302
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,649 high
• Mortgage (P&I): −$572
• Tax from tax record: −$221 /mo · $2,648/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $465

Break-even live

Break-even rent $1,060

Max offer price $109,000

Occupancy floor 67%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1819 Cawdor Dr Fayetteville, NC	3.0	2.5	1572	$1,600	$1.02	13d	1	0.20mi
4630 Canterbury Rd Fayetteville, NC	3.0	2.0	1250	$1,350	$1.08	23d	1	0.49mi
5032 Shimmer Dr Fayetteville, NC	4.0	2.0	1473	$1,750	$1.19	23d	1	0.77mi
5032 Shimmer Dr Fayetteville, NC	4.0	2.0	1473	$1,700	$1.15	13d	1	0.77mi
909 Sandalwood Dr Fayetteville, NC	3.0	1.0	1346	$1,595	$1.18	23d	1	0.88mi
5632 Birch Rd Fayetteville, NC	3.0	1.0	1228	$1,250	$1.02	23d	1	0.89mi
1828 Paisley Ave Fayetteville, NC	3.0	2.5	1886	$1,950	$1.03	13d	1	1.16mi
600 Faison Ave Fayetteville, NC	3.0	2.0	1802	$1,495	$0.83	23d	1	1.17mi
2524 Penny Dr Fayetteville, NC	3.0	2.0	1330	$1,400	$1.05	23d	1	1.23mi
1815 Paisley Ave Fayetteville, NC	3.0	2.0	1508	$1,595	$1.06	23d	1	1.25mi
3325 Boone Trl Fayetteville, NC	4.0	2.0	1494	$1,960	$1.31	13d	1	1.28mi
395 Hicks Ave Fayetteville, NC	3.0	2.5	1519	$1,550	$1.02	23d	1	1.28mi
1401 Carnsmore Dr Fayetteville, NC	3.0	2.5	1450	$1,575	$1.09	23d	1	1.32mi
5532 Robmont Dr Fayetteville, NC	2.0	2.0	1301	$1,800	$1.38	13d	1	1.35mi
1583 Winnabow Dr Fayetteville, NC	3.0	2.5	1550	$2,100	$1.35	23d	1	1.38mi
5706 McDougal Dr Fayetteville, NC	3.0	2.0	1594	$1,650	$1.04	23d	1	1.39mi
2690 Belhaven Rd Fayetteville, NC	3.0	1.0	1264	$1,350	$1.07	23d	1	1.39mi

Listing history 4 events

1. 2026-05-10
   status Pending
2. 2026-05-08
   listed $109,000 Active
3. 1999-03-09
   soldstatus $76,000
4. 1986-12-18
   soldstatus $61,000

ⓘ 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: $2,648 · $221/mo
• Projected year-2 tax: $2,648 · $221/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% 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: $19,791
• − Mortgage interest: −$6,106
• − Property taxes: −$2,648
• − Insurance: −$545
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − Depreciation: −$3,171
• Taxable income: $4,155
• Est. tax owed @ 24.0%: −$997
• After-tax cash flow: $4,586/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): 37,140
• Household income: $58,563
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 1667.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 39% White 36% Hispanic / Latino 14% Two or more races 12% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 8% · Canada, South Korea, Vietnam
• Languages at home: 87% English-only · Spanish 9% Tagalog/Filipino 1% French/Haitian/Cajun 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: ▼ -59.90%
• Current HPI: 215.927
• Rent YoY: ▲ 3.17%
• 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

+78.7% since first listed

4 events — show timeline

• 2026-05-10 Pending — LPRMLS
• 2026-05-08 Listed $109,000 LPRMLS
• 1999-03-09 Sold (Public Records) $76,000 Public Records
• 1986-12-18 Sold (Public Records) $61,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $2,648 · +45.9% YoY. Source: county tax records.