2005 Dockside Dr · Fayetteville, NC 28304

$199,900

3 bd · 2.0 ba · 1,496 sqft · SingleFamily public records · 34 Days on market

Built 1982 0.31 ac lot Est $250k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ARRAN LAKES WEST 3-bedroom, 2-bath ranch-style home located in the sought-after Jack Britt School District. The living room features a stone fireplace, creating a warm focal point. The spacious kitchen offers a bay window overlooking the large backyard, bringing in great natural light. A generous designated laundry area adds everyday convenience, and a mix of carpet, hardwood, and vinyl flooring runs throughout the home. Schedule your showing today!

Key facts

• Large backyard
• Bay window
• Stone fireplace

Tags

• STONE FIREPLACE
• BAY WINDOW
• LARGE BACKYARD
• DESIGNATED LAUNDRY AREA
• MIX OF FLOORING

Property features AI

Finance

• Other: Zoned RR - Rural Residential; Subdivision: Arran Lakes Wes

Exterior

• Parking: Attached garage (1 covered/garage space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Brick / brick veneer construction
• Exterior features: Deck; Front porch; Porch; Fenced backyard; Cleared lot

Interior

• Kitchen: Refrigerator; Dishwasher; Range
• Bedrooms: Bedrooms not specifically listed
• Flooring: Hardwood; Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Fireplace heating option; Ceiling fans for cooling
• Interior features: Ceiling fans; Eat-in kitchen; Window coverings and blinds; Den with stone fireplace
• Laundry & utility: Laundry in unit on the main level; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-22 ($-267/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (15.4% below list).
• Recommended offer: $169k (15.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.9% in Fayetteville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: John R Griffin Middle (math 43% / reading 53%, grade C-, #134 of 475 statewide, top 29%, 1,091 students, 40% FRL); Jack Britt High (math 58% / reading 72%, grade B, #161 of 535 statewide, top 30%, 1,890 students, 38% FRL) — zoned schools average 39% FRL vs 55% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 56% at this address vs 36% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Cumberland County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.2%/yr); 302 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; list at $200k implies a 126% 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; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,136 (15.4% 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 34 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.85% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $249,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2122 Lakeridge Dr	0.26mi	3/2.0	1,530 (+2%)	6mo	$224,950	$147	79
2092 Lakeridge Dr	0.11mi	3/2.0	1,274 (-15%)	1mo	$184,000	$144	69
5909 Waterdale Ct	0.68mi	3/2.0	1,499 (+0%)	1mo	$250,000	$167	67
1824 Rivergate Rd	0.66mi	3/2.0	1,479 (-1%)	2mo	$257,000	$174	66
5908 Gosfield Pl	0.23mi	3/2.0	1,280 (-14%)	1mo	$237,000	$185	65
2132 Calista Cir	0.61mi	3/2.5	1,543 (+3%)	1mo	$270,000	$175	64
6377 Lake Traill Dr	0.52mi	3/2.0	1,604 (+7%)	1mo	$258,000	$161	63
2007 Rottingham Ct	0.36mi	3/2.0	1,306 (-13%)	4mo	$240,000	$184	59
6300 Lake Trail Dr	0.57mi	3/2.0	1,678 (+12%)	0mo	$220,000	$131	53
2241 Dockvale Dr	0.51mi	4/2.0 (+1)	1,673 (+12%)	1mo	$270,000	$161	51
5924 Lakeridge Dr	0.52mi	3/2.0	1,292 (-14%)	3mo	$219,500	$170	50
1931 Pumpkin Rd	0.70mi	4/2.0 (+1)	1,363 (-9%)	2mo	$195,000	$143	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 · 3.17% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-33,507
• Equity at exit: $29,806

10-year hold

• IRR: -8.5%
• Equity multiple: 0.47×
• Total profit: $-29,761
• Equity at exit: $17,284

Cash invested: $55,972 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,691 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$227 /mo · $2,722/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $-22

Break-even live

Break-even rent $1,719

Max offer price $195,973

Occupancy floor 96%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2012 Lakemeadow Dr Fayetteville, NC	3.0	2.0	1332	$1,800	$1.35	14d	1	0.11mi
2220 Baywater Dr Fayetteville, NC	3.0	2.5	1859	$2,000	$1.08	23d	1	0.28mi
6017 Lakeway Dr Fayetteville, NC	3.0	2.0	1709	$1,750	$1.02	23d	1	0.37mi
2920 Cosmo Dr Fayetteville, NC	1.0–3.0	1.0–2.0	918	$1,505	$1.64	14d	9	0.45mi
2514 Gardner Park Dr Fayetteville, NC	3.0	2.5	1480	$1,595	$1.08	23d	1	0.50mi
1948 Nordic Dr Fayetteville, NC	3.0	2.0	1131	$1,400	$1.24	23d	1	0.75mi
6301 Lakehaven Dr Fayetteville, NC	3.0	2.0	1514	$1,700	$1.12	23d	1	0.77mi
2640 Latrobe Ave Fayetteville, NC	1.0–3.0	1.0–2.0	1079	$1,815	$1.68	14d	30	0.79mi
1879 Frankie Ave Fayetteville, NC	3.0	2.0	1100	$1,375	$1.25	23d	1	0.85mi
2513 Owlands Ct Fayetteville, NC	3.0	2.0	1643	$2,245	$1.37	14d	1	0.85mi
1811 Balmoral Dr #202 Fayetteville, NC	2.0	2.0	1250	$1,275	$1.02	14d	1	0.87mi
1761 Renwick Dr #204 Fayetteville, NC	2.0	2.0	1331	$1,300	$0.98	14d	1	0.89mi
2161 Bingham Dr Fayetteville, NC	3.0	2.0	1300	$1,325	$1.02	14d	1	0.90mi
1800 Balmoral Dr Fayetteville, NC	2.0	2.0	1328	$1,250	$0.94	23d	1	0.91mi
2543 Painters Mill Dr Fayetteville, NC	3.0	2.0	1154	$1,600	$1.39	14d	1	0.94mi
1927 Shiloh Dr Fayetteville, NC	3.0	1.5	1606	$1,600	$1.00	14d	1	0.97mi
5595 Quietwood Pl Fayetteville, NC	3.0	2.0	1288	$1,395	$1.08	23d	1	1.01mi
1701 Carter Baron Pl Unit 211 Fayetteville, NC	3.0	2.0	1295	$1,700	$1.31	23d	1	1.01mi
5812 Shenandoah Dr Fayetteville, NC	4.0	2.0	1800	$1,599	$0.89	23d	1	1.08mi
6338 Rhemish Dr Fayetteville, NC	3.0	2.0	1201	$1,500	$1.25	23d	1	1.25mi
1411 Furnish Dr Fayetteville, NC	3.0	2.0	1100	$1,350	$1.23	23d	1	1.28mi
5744 Randleman St Fayetteville, NC	3.0	2.0	1171	$1,395	$1.19	23d	1	1.29mi
1583 Winnabow Dr Fayetteville, NC	3.0	2.5	1550	$2,100	$1.35	23d	1	1.31mi
1715 Arrow Ridge Way Fayetteville, NC	3.0	2.0	1220	$1,550	$1.27	14d	1	1.32mi
5721 Randleman St Fayetteville, NC	3.0	2.0	1050	$1,575	$1.50	23d	1	1.34mi
1644 Sweetgum Cir Fayetteville, NC	3.0	2.0	1446	$1,750	$1.21	23d	1	1.37mi
3001 Stone Carriage Cir Fayetteville, NC	1.0–3.0	1.0–2.0	1098	$1,700	$1.55	14d	12	1.44mi
6716 Sandfield Ct Fayetteville, NC	3.0	2.0	1296	$1,575	$1.22	23d	1	1.46mi
3011 Wetherby Ct Fayetteville, NC	2.0	2.0	1601	$1,800	$1.12	14d	1	1.49mi
1815 Paisley Ave Fayetteville, NC	3.0	2.0	1508	$1,595	$1.06	23d	1	1.49mi

Listing history 22 events

1. 2026-06-15
   status $199,900 Pending 34 DOM
2. 2026-06-15
   days on market $199,900 Active 34 DOM
3. 2026-06-14
   days on market $199,900 Active 32 DOM
4. 2026-06-13
   days on market $199,900 Active 31 DOM
5. 2026-06-10
   days on market $199,900 Active 29 DOM
6. 2026-06-09
   days on market $199,900 Active 28 DOM
7. 2026-06-09
   price $199,900 Active 27 DOM
8. 2026-06-08
   days on market $205,000 Active 27 DOM
9. 2026-06-07
   days on market $205,000 Active 26 DOM
10. 2026-06-03
    days on market $205,000 Active 22 DOM
11. 2026-06-03
    price $205,000 Active 21 DOM
12. 2026-06-02
    days on market $215,000 Active 21 DOM
13. 2026-06-01
    days on market $215,000 Active 20 DOM
14. 2026-05-31
    days on market $215,000 Active 19 DOM
15. 2026-05-30
    days on market $215,000 Active 18 DOM
16. 2026-05-12
    listed $215,000 Active
17. 2025-05-07
    historical $1,425
18. 2025-04-04
    listed $1,425
19. 2024-03-04
    historical $1,350
20. 2024-02-15
    listed $1,350
21. 1994-09-30
    soldstatus $88,500
22. 1985-10-01
    soldstatus $62,150

ⓘ 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: $2,722 · $227/mo
• Projected year-2 tax: $2,722 · $227/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 ≥107°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: $20,296
• − Mortgage interest: −$11,198
• − Property taxes: −$2,722
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − Depreciation: −$5,815
• Taxable loss: −$3,685
• Est. tax savings @ 24.0%: +$884
• After-tax cash flow: $618/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

+245.9% since first listed

7 events — show timeline

• 2026-05-12 Listed $215,000 LPRMLS
• 2025-05-07 Rental Removed $1,425 TMLS
• 2025-04-04 Listed for Rent $1,425 TMLS
• 2024-03-04 Rental Removed $1,350 LPRMLS
• 2024-02-15 Listed for Rent $1,350 LPRMLS
• 1994-09-30 Sold (Public Records) $88,500 Public Records
• 1985-10-01 Sold (Public Records) $62,150 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,722 · +20.6% YoY. Source: county tax records.