3900 Mckethan St · Wade, NC 28395

$195,000

4 bd · 2.0 ba · 1,493 sqft · Manufactured public records · 103 Days on market

Built 2024 0.44 ac lot Est $190k · at est. $21/mo HOA · 1% of rent

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Why this score? — see what drove the C 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 +20.5/30.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• ARV discount +6.2/15.0
• 1% rule +5.0/10.0
• Schools +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Presale - Brand New 2024 Manufactured Home on a 0.44 Acre Lot. This split floor plan home has 4 bedrooms and two full bathrooms. The Owner's Suite has a large closet and en suite bathroom. Back deck for a great place to enjoy your morning coffee or to entertain. Conveniently located and ready for its new owners.

Key facts

• Spacious kitchen
• Large yard
• Back deck

Tags

• NEARLY HALF AN ACRE
• BRIGHT OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• PRIVATE PRIMARY SUITE
• LARGE YARD
• BACK DECK

Property features AI

Finance

• Other: Zoning: R6A - Residential District; Subdivision: WADE; Directions: GPS friendly; continue straight on McKethan, pass Oak St and 3rd St, follow the unpaved road to the home at the end of the street.
• HOA & community: Homeowners association with an annual fee of $250 (about $20.83/month)

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Manufactured home; One story
• Construction: Vinyl siding
• Exterior features: Deck; Shed(s); Cleared, level lot

Interior

• Kitchen: Dishwasher; Refrigerator; Range; Kitchen island; Eat-in kitchen
• Bedrooms: Total rooms: 6
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Double vanity; Eat-in kitchen; Kitchen island; Walk-in closet(s); Crawl space basement
• Laundry & utility: Washer hookup in unit; Washer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/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 $195k (0.1% below list).
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.8% in Wade — 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 55/100 on livability (#650 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D, crime F, amenities 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: District No 7 Elementary (math 47% / reading 57%, grade C-, #354 of 1,410 statewide, top 28%, 195 students, 98% FRL); Mac Williams Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 1,151 students, 58% FRL); Cape Fear High (math 75% / reading 47%, grade C+, #202 of 535 statewide, top 39%, 1,529 students, 50% FRL).
• Zoned-school proficiency averages 53% at this address vs 36% district-wide (+16 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: 47 active listings in the ZIP; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $19k appreciation (9.9% local appreciation)).
• At projected returns (9.9% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate 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 $177,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.00% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $189,611
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3911 Mckethan St	0.04mi	4/2.0	1,498 (+0%)	4mo	$192,999	$129	94
3912 Mckethan (lot 19) St	0.05mi	4/2.0	1,456 (-2%)	14mo	$185,000	$127	82
3916 Mckethan (lot 20) St	0.07mi	4/2.0	1,456 (-2%)	13mo	$185,000	$127	82
3905 Mckethan St	0.03mi	4/2.0	1,493 (0%)	22mo	$187,000	$125	80
3934 Mckethan (lot 5) St	0.15mi	4/2.0	1,456 (-2%)	12mo	$185,000	$127	78
3942 Mckethan (lot 3) St	0.19mi	4/2.0	1,456 (-2%)	12mo	$185,000	$127	77
4057 Lodge Dr	0.26mi	3/2.0 (-1)	1,577 (+6%)	3mo	$185,000	$117	71
4055 Lodge Dr	0.26mi	3/2.0 (-1)	1,577 (+6%)	3mo	$185,000	$117	71
4051 Lodge Dr	0.27mi	3/2.0 (-1)	1,577 (+6%)	3mo	$185,000	$117	71
7572 Dunn Rd	0.48mi	3/2.0 (-1)	1,450 (-3%)	7mo	$250,000	$172	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 3.22×
• Total profit: $121,327
• Equity at exit: $174,379

10-year hold

• IRR: 24.6%
• Equity multiple: 7.30×
• Total profit: $344,080
• Equity at exit: $374,687

Cash invested: $54,600 (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 28395

• Home prices YoY: 3.0%
• Active inventory: 47
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,948 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$157 /mo · $1,885/yr
• Insurance: −$81
• HOA: −$21
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $257

Break-even live

Break-even rent $1,623

Max offer price $195,000

Occupancy floor 82%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $21 · $252/yr

Listing history 19 events

1. 2026-06-17
   days on market $195,000 Active 103 DOM
2. 2026-06-16
   days on market $195,000 Active 102 DOM
3. 2026-06-15
   days on market $195,000 Active 101 DOM
4. 2026-06-14
   days on market $195,000 Active 99 DOM
5. 2026-06-13
   days on market $195,000 Active 98 DOM
6. 2026-06-10
   days on market $195,000 Active 96 DOM
7. 2026-06-09
   days on market $195,000 Active 95 DOM
8. 2026-06-08
   days on market $195,000 Active 94 DOM
9. 2026-06-07
   days on market $195,000 Active 93 DOM
10. 2026-06-03
    days on market $195,000 Active 89 DOM
11. 2026-06-02
    days on market $195,000 Active 88 DOM
12. 2026-06-01
    days on market $195,000 Active 87 DOM
13. 2026-05-31
    days on market $195,000 Active 86 DOM
14. 2026-05-30
    days on market $195,000 Active 85 DOM
15. 2026-04-10
    price $195,000
16. 2026-03-06
    listed $200,000 Active
17. 2024-02-12
    soldstatus $188,500 313-char remark

    Show marketing remark (313 chars)

    Presale - Brand New 2024 Manufactured Home on a 0.44 Acre Lot. This split floor plan home has 4 bedrooms and two full bathrooms. The Owner's Suite has a large closet and en suite bathroom. Back deck for a great place to enjoy your morning coffee or to entertain. Conveniently located and ready for its new owners.

18. 2024-02-09
    listed $194,000 313-char remark

    Show marketing remark (313 chars)

    Presale - Brand New 2024 Manufactured Home on a 0.44 Acre Lot. This split floor plan home has 4 bedrooms and two full bathrooms. The Owner's Suite has a large closet and en suite bathroom. Back deck for a great place to enjoy your morning coffee or to entertain. Conveniently located and ready for its new owners.

19. 2022-12-08
    soldstatus $160,000

ⓘ 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: $1,885 · $157/mo
• Projected year-2 tax: $1,885 · $157/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $23,371
• − Mortgage interest: −$10,923
• − Property taxes: −$1,885
• − Insurance: −$975
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − HOA: −$252
• − Depreciation: −$5,673
• Taxable loss: −$75
• Est. tax savings @ 24.0%: +$18
• After-tax cash flow: $3,099/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 — Wade

• Score: 55/100
• State rank: #650
• US rank: #23543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wade, NC
• Population (ZIP): 2,524

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: Predominantly White (76%)
• Race & ethnicity: White 76% Black 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 9% Iranian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Korean 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: ▲ 9.91%
• Current HPI: 336.2104
• 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

+21.9% since first listed

5 events — show timeline

• 2026-04-10 Price Changed $195,000 LPRMLS
• 2026-03-06 Listed $200,000 LPRMLS
• 2024-02-12 Sold (MLS) $188,500 LPRMLS
• 2024-02-09 Listed $194,000 LPRMLS
• 2022-12-08 Sold (Public Records) $160,000 Public Records

Property tax history

+39.1%/yr

Latest (2025): $1,885 · +70.7% YoY. Source: county tax records.