387 Forest Dr · Spout Springs, NC 28326

$210,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 10 Days on market

Built 1999 0.43 ac lot Est $175k · 20% over

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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).

• Cash flow +21.5/30.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Discover affordable homeownership with this move-in ready home nestled on a quiet cul-de-sac in Cameron! Perfectly positioned on a spacious 0.43-acre lot, this property offers the outdoor space buyers are looking for without the burden of city taxes. Inside, enjoy the residential feel of drywall construction and a comfortable layout ready for your personal touch. Conveniently located with easy access to major highways, commuting to Fort Bragg, Sanford, Fayetteville, and surrounding areas is a breeze. Whether you're a first-time homebuyer looking to build equity, an investor seeking rental potential, or someone looking to downsize without sacrificing yard space, this property checks all the

Key facts

• Spacious lot
• Outdoor space
• Move in ready

Tags

• MOVE IN READY
• QUIET CUL DE SAC
• SPACIOUS LOT
• EASY ACCESS TO HIGHWAYS
• OUTDOOR SPACE

Property features AI

Exterior

• Parking: Garage faces side
• Utilities: Public water
• Home design: Single-family residence; Residential property; Located in the SHERWOOD FOREST subdivision
• Construction: Vinyl siding
• Exterior features: Front and rear porches; Porch; Located on a cul-de-sac; Property partly wooded and partly cleared; Paved road access

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Carpet and vinyl flooring; No fireplace; Seven total rooms; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/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 $197k (6.2% below list).
• Recommended offer: $197k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 4.1% in Spout Springs — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Highland Middle (math 34% / reading 41%, grade F, #256 of 475 statewide, top 55%, 875 students, 64% FRL); Western Harnett High (math 57% / reading 58%, grade C, #245 of 535 statewide, top 46%, 1,386 students, 60% FRL).
• Zoned-school proficiency averages 48% at this address vs 35% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Harnett County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.0%/yr); 244 active listings in the ZIP; solid renter incomes; 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).
• This rent runs 31% of the median local income ($75k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; major 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 $196,953 (6.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.94% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $175,392
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Ridge View Dr	0.22mi	3/2.0	1,580 (+4%)	1mo	$230,000	$146	81
147 Ridge View Dr	0.09mi	3/2.0	1,429 (-6%)	7mo	$215,000	$150	81
113 Forest Dr	0.24mi	3/2.0	1,416 (-6%)	19mo	$158,900	$112	62
140 Ridge View Dr	0.14mi	3/2.0	1,680 (+11%)	23mo	$195,000	$116	56
90 Forest Dr	0.24mi	3/2.0	1,703 (+13%)	19mo	$172,500	$101	52

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-14,086
• Equity at exit: $31,312

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $12,857
• Equity at exit: $18,157

Cash invested: $58,800 (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 28326

• Home prices YoY: -9.9%
• Rents YoY: 3.0%
• Active inventory: 244
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,970 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $316

Break-even live

Break-even rent $1,569

Max offer price $210,000

Occupancy floor 79%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-19
   status $210,000 Pending 10 DOM
2. 2026-06-18
   days on market $210,000 Active 10 DOM
3. 2026-06-17
   days on market $210,000 Active 9 DOM
4. 2026-06-16
   days on market $210,000 Active 8 DOM
5. 2026-06-15
   days on market $210,000 Active 7 DOM
6. 2026-06-14
   days on market $210,000 Active 5 DOM
7. 2026-06-10
   days on market $210,000 Active 2 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-09
   listed $210,000 Active 1 DOM

ⓘ 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: $611 · $51/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$1,111/yr (+$93/mo · 181.9%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $23,634
• − Mortgage interest: −$11,763
• − Property taxes: −$611
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$6,109
• Taxable income: $320
• Est. tax owed @ 24.0%: −$77
• After-tax cash flow: $3,718/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 — Spout Springs

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Harnett County · 125,715 people
• Metro: Fayetteville, NC
• Population (ZIP): 26,068
• Household income: $75,431
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 456.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 52% Black 27% Hispanic / Latino 12% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6%
• Common ancestry: Slovak 3% Lithuanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -24.96%
• Current HPI: 226.8295
• Rent YoY: ▲ 2.95%
• 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

1 event — show timeline

• 2026-06-08 Listed $210,000 LPRMLS

Property tax history

-2.2%/yr

Latest (2025): $611 · +0.0% YoY. Source: county tax records.