1410 Split Rail Dr · Hope Mills, NC 28371

$100,000

3 bd · 3.0 ba · 1,662 sqft · Other · 148 Days on market

Built 1998 0.54 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor Special – Cash Only Opportunity! Discover the potential at 1410 Split Rail Dr in peaceful Parkton, NC. This property offers over 2,100 SQFT of total space with a single-wide mobile home (934 SQFT) that has been expanded with multiple additions (1,238 SQFT) for a total of approximately 2,172 SQFT. The home also features spacious decks and porches totaling 960 SQFT, perfect for outdoor living or future updates. The property needs TLC and seller will make no repairs. Some additions and decks/porches may not be permitted and may not qualify for traditional financing—cash or investor buyers only are recommended. The room labeled “Living Room” on the sketch may n

Key facts

• 0.54 acre lot
• Built 1998
• Listed 148 days

Property features AI

Exterior

• Parking: No garage
• Security: Storm doors
• Utilities: Water from spring and well; Septic tank and holding tank for sewer
• Home design: Residential mobile home; Located in the Split Rail subdivision; Zoned RR (Rural Residential)
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Storage; Covered front porch; Covered rear porch; Deck; Porch; Full fencing

Interior

• Kitchen: Refrigerator; Electric range; Ice maker; Microwave; Exhaust fan
• Bedrooms: Bedrooms information not provided
• Flooring: Laminate flooring; Carpet
• Bathrooms: Three full bathrooms
• Heating & cooling: Central air; Ceiling fans
• Interior features: Breakfast bar; Built-in features; Ceiling fans; Pantry; See remarks; Walk-in closets
• Laundry & utility: Washer hookup in unit on main level

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 4.8% in Hope Mills — 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 67/100 on livability (#234 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D-, amenities F, commute F.
• 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: Hope Mills Middle (math 27% / reading 34%, grade F, #331 of 475 statewide, top 70%, 514 students, 99% FRL); South View High (math 60% / reading 43%, grade D+, #299 of 535 statewide, top 56%, 1,502 students, 66% FRL) — zoned schools average 83% FRL vs 55% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 44 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $100k implies a 733% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.51% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.83%
• DSCR: 2.15
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 43.7%
• Equity multiple: 4.31×
• Total profit: $92,806
• Equity at exit: $90,088

10-year hold

• IRR: 37.8%
• Equity multiple: 9.68×
• Total profit: $243,040
• Equity at exit: $194,278

Cash invested: $28,000 (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 28371

• Home prices YoY: 5.0%
• Active inventory: 44
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,512 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$26 /mo · $308/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $603

Break-even live

Break-even rent $749

Max offer price $100,000

Occupancy floor 55%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4240 High Stakes Cir Parkton, NC	1.0–3.0	1.0–2.0	1000	$1,625	$1.62	13d	9	0.53mi
5536 Gilcrest Sands Dr Hope Mills, NC	3.0	2.0	1421	$1,395	$0.98	23d	1	1.22mi
3766 Colonial Cv Hope Mills, NC	3.0	1.5	1475	$1,445	$0.98	13d	1	1.27mi

Listing history 19 events

1. 2026-06-18
   days on market $100,000 Active 148 DOM
2. 2026-06-17
   days on market $100,000 Active 147 DOM
3. 2026-06-16
   days on market $100,000 Active 146 DOM
4. 2026-06-15
   days on market $100,000 Active 145 DOM
5. 2026-06-14
   days on market $100,000 Active 143 DOM
6. 2026-06-13
   days on market $100,000 Active 142 DOM
7. 2026-06-10
   days on market $100,000 Active 140 DOM
8. 2026-06-09
   days on market $100,000 Active 139 DOM
9. 2026-06-08
   days on market $100,000 Active 138 DOM
10. 2026-06-07
    days on market $100,000 Active 137 DOM
11. 2026-06-03
    days on market $100,000 Active 133 DOM
12. 2026-06-02
    days on market $100,000 Active 132 DOM
13. 2026-06-01
    days on market $100,000 Active 131 DOM
14. 2026-05-31
    days on market $100,000 Active 130 DOM
15. 2026-05-30
    days on market $100,000 Active 129 DOM
16. 2026-05-19
    price $100,000
17. 2026-01-21
    listed $124,999 Active
18. 2025-10-10
    listed $135,000 Active
19. 1988-08-29
    soldstatus $12,000

ⓘ 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: $308 · $26/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$512/yr (+$43/mo · 166.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,143
• − Mortgage interest: −$5,602
• − Property taxes: −$308
• − Insurance: −$500
• − Repairs & maintenance: −$1,451
• − Management: −$1,451
• − Depreciation: −$2,909
• Taxable income: $5,921
• Est. tax owed @ 24.0%: −$1,421
• After-tax cash flow: $5,811/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 — Hope Mills

• Score: 67/100
• State rank: #234
• US rank: #10761

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 39,196
• Population (ZIP): 6,458

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 0.69)
• Race & ethnicity: White 42% Black 34% Hispanic / Latino 14% Two or more races 8% Native American 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4%
• Common ancestry: Serbian 3% Italian 2% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 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: ▲ 15.91%
• Current HPI: 330.85
• 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

+733.3% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $100,000 LPRMLS
• 2026-01-21 Listed $124,999 LPRMLS
• 2025-10-10 Listed $135,000 LPRMLS
• 1988-08-29 Sold (Public Records) $12,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $308 · -8.1% YoY. Source: county tax records.