203 Drew St · Fayetteville, NC 28376

$243,500

3 bd · 2.0 ba · 1,470 sqft · SingleFamily public records · 2 Days on market

Built 1996 0.65 ac lot Est $259k · 6% 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).

• Cash flow +13.0/30.0
• ARV discount +10.1/15.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rustic,yet modern.Open concept flr plan features modern kitchen w/granite counter tops,SS appliances,stylish back splash & brk bar.Stylish laminate throughout main living space.New light fixtures,new flooring,fresh coat of paint in & out.Rustic barn door & granite in master bath.This gorgeous home backs up to thewoods-great privacy and NO neighbors.Fenced backyard, back deck & fire pit-great for entertainment,BBQs & 0.66 AC Rustic,yet modern.Open concept floor plan features modern kitchen w/granite counter tops, SS appliances,stylish back splash & brk bar. Stylish laminate throughout main living space. New light fixtures,new flooring,fresh coat of paint in & out.Rustic barn door & granite in master bath.This gorgeous home backs up to thewoods-great privacy and NO neighbors.Fenced backyard,back deck & fire pit-great for entertainment, BBQs & fur babies..0.66 AC.

Key facts

• 0.65 acre lot
• 2 garage spots
• Built 1996

Property features AI

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces
• Security: Security system; Smoke detectors
• Utilities: Public water; Sewer: holding tank and septic tank
• Home design: Single-family residence; Residential property; Subdivision: COBBLE RIDGE
• Construction: Fiber cement exterior
• Exterior features: Deck; Porch with front porch; Screened porch; Shed(s); Located on a cul-de-sac

Interior

• Kitchen: Refrigerator; Dishwasher; Range; Granite counters; Eat-in kitchen
• Bedrooms: Bedrooms: (see floor plan for counts and locations)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump heating; Ceiling fan cooling
• Interior features: Ceiling fans; Entrance foyer; Eat-in kitchen; Granite counters; Walk-in closets; Window coverings and blinds; Factory-built fireplace
• Laundry & utility: Washer hookup in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $244k.

Deal economics

• At list price, monthly cash flow is $-13 ($-152/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (22.3% below list).
• Recommended offer: $189k (22.3% 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-.
• 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: Upchurch Elementary (math 37% / reading 40%, grade F, #750 of 1,410 statewide, top 54%, 698 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; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 685 units permitted in Hoke County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($66k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y ago; this cycle's ask is 62% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $150k; list at $244k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 73% 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 $189,221 (22.3% 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. 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. 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?
5. 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.
6. 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.
7. 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: 0.78% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 10.7

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
180 Cafe Price Ct	0.14mi	3/2.0	1,562 (+6%)	19mo	$282,900	$181	67
112 Woodland Ct	0.48mi	3/2.0	1,361 (-7%)	3mo	$257,999	$190	63
322 Woodberry Cir	0.45mi	3/2.0	1,410 (-4%)	13mo	$262,000	$186	61
303 Woodberry Cir	0.44mi	3/2.0	1,598 (+9%)	7mo	$225,000	$141	59
339 Woodberry Cir	0.50mi	3/2.0	1,534 (+4%)	15mo	$250,000	$163	57
410 Woodberry Cir	0.67mi	3/2.0	1,544 (+5%)	5mo	$258,000	$167	57
330 Woodberry Cir	0.47mi	3/2.0	1,553 (+6%)	20mo	$253,000	$163	52
387 Woodberry Cir	0.72mi	3/2.0	1,560 (+6%)	13mo	$274,500	$176	46
159 Independence Dr	0.48mi	3/2.0	1,259 (-14%)	9mo	$235,000	$187	46
419 Woodberry Cir	0.68mi	3/2.0	1,639 (+12%)	4mo	$260,000	$159	45
111 Sprucepine Dr	0.73mi	3/2.0	1,375 (-6%)	14mo	$225,000	$164	43
106 Liberty Ct	0.50mi	3/2.0	1,250 (-15%)	20mo	$223,000	$178	36

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: -17.8%
• Equity multiple: 0.38×
• Total profit: $-42,379
• Equity at exit: $36,307

10-year hold

• IRR: -12.0%
• Equity multiple: 0.32×
• Total profit: $-46,433
• Equity at exit: $21,053

Cash invested: $68,180 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,892 high
• Mortgage (P&I): −$1,277
• Tax from tax record: −$129 /mo · $1,550/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $-13

Break-even live

Break-even rent $1,908

Max offer price $241,259

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: $60,875
• Closing costs: $7,305
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 South Pointe Dr Raeford, NC	1.0–3.0	1.0–2.0	1074	$1,920	$1.79	13d	24	0.18mi
109 Timberidge Dr Raeford, NC	3.0	2.0	1384	$1,765	$1.28	13d	1	0.32mi
334 Woodberry Cir Raeford, NC	3.0	2.0	1598	$1,650	$1.03	13d	1	0.51mi
9000 Stone Gate Dr Raeford, NC	1.0–3.0	1.0–2.0	1029	$1,757	$1.71	13d	12	0.80mi
1502 Clan Campbell Dr Raeford, NC	3.0	2.0	1296	$1,395	$1.08	13d	1	0.86mi
1552 Clan Campbell Dr Raeford, NC	3.0	2.0	1241	$1,695	$1.37	13d	1	0.96mi
140 Verdmont Dr Raeford, NC	3.0	2.5	1856	$2,200	$1.19	23d	1	1.01mi
641 Hogart St Raeford, NC	3.0	2.0	1501	$1,800	$1.20	23d	1	1.06mi
105 Joseph Dr Raeford, NC	3.0	2.0	1152	$1,275	$1.11	23d	1	1.33mi

Listing history 6 events

1. 2026-06-05
   statusdays on market $243,500 Pending 2 DOM
2. 2026-06-03
   statusdays on market $243,500 Active 1 DOM
3. 2026-06-02
   days on market $243,500 Coming Soon 3 DOM
4. 2026-06-01
   days on market $243,500 Coming Soon 2 DOM
5. 2026-05-30
   remarks 699-char remark
6. 2026-05-30
   listed $243,500 Coming Soon 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: $1,550 · $129/mo
• Projected year-2 tax: $1,997 · $166/mo
• Expected delta: +$447/yr (+$37/mo · 28.9%)

ⓘ 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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% 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: $22,707
• − Mortgage interest: −$13,640
• − Property taxes: −$1,550
• − Insurance: −$1,218
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$7,084
• Taxable loss: −$4,417
• Est. tax savings @ 24.0%: +$1,060
• After-tax cash flow: $908/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 — 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

• County: Hoke County · 44,880 people
• City population: 226,118
• 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

+87.3% since first listed

9 events — show timeline

• 2026-05-30 Coming Soon $243,500 LPRMLS
• 2018-05-18 Sold (Public Records) $150,000 Public Records
• 2018-05-18 Sold (MLS) $149,900 LPRMLS
• 2018-05-18 Sold (MLS) $149,900 TMLS
• 2018-04-12 Listed $149,900 LPRMLS
• 2018-04-12 Listed $149,900 TMLS
• 2017-12-29 Sold (MLS) $91,700 LPRMLS
• 2017-11-14 Listed $87,500 LPRMLS
• 2012-11-20 Sold (Public Records) $130,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,550 · +0.0% YoY. Source: county tax records.