203 Wall St · Fayetteville, NC 28301

$89,900

3 bd · 1.0 ba · 640 sqft · SingleFamily public records · 56 Days on market

Built 1983 5,663 sqft lot Est $116k · 22% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2 bedroom, 1 bathroom home. Nice sized deck. Located in Fayetteville close to shopping, restaurants, downtown, Fayetteville State. All new flooring and paint throughout. Brand new HVAC. Home being sold as-is excluding appraisal required repairs. Tenant occupied.

Key facts

• Close to restaurants
• New hvac
• New flooring

Tags

• DECK
• NEW FLOORING
• NEW PAINT
• NEW HVAC
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level / 1 story
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.13 acres (about 5,663 sq ft); Not in a subdivision; Directions by GPS

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating
• Interior features: Carpet and vinyl flooring; No fireplace; Crawl space basement

🏷️ Possibly a rental listed for sale. The $89,900 price doesn't fit this home's estimated sale value (~$115,840) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 4.9% in Fayetteville — 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 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: schools C-, 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.
• Market conditions: Rents rising (+3.5%/yr); 132 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• This rent runs 43% of the median local income ($39k/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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 9945% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $18k; list at $90k implies a 405% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 74% 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 $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 1.57% ✓
• Cap rate: 12.73%
• Cash-on-cash: 22.99%
• DSCR: 2.02
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $115,840
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1203 North St	0.30mi	2/1.0 (-1)	715 (+12%)	1mo	$126,628	$177	60
1222 North St	0.41mi	2/1.0 (-1)	570 (-11%)	17mo	$110,000	$193	44
306 Plum St	0.27mi	2/1.0 (-1)	720 (+12%)	21mo	$130,000	$181	44

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 · 3.49% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 1.67×
• Total profit: $16,879
• Equity at exit: $13,404

10-year hold

• IRR: 25.5%
• Equity multiple: 3.28×
• Total profit: $57,269
• Equity at exit: $7,773

Cash invested: $25,172 (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 28301

• Home prices YoY: -12.5%
• Rents YoY: 3.5%
• Active inventory: 132
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,412 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$124 /mo · $1,493/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $482

Break-even live

Break-even rent $802

Max offer price $89,900

Occupancy floor 61%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
450 Hay St Fayetteville, NC	1.0–2.0	1.0–2.0	799	$1,745	$2.18	14d	3	0.99mi
2015 Blake St Fayetteville, NC	2.0	1.0	700	$995	$1.42	23d	1	1.28mi
110 Facility Dr #2015 Fayetteville, NC	2.0	1.0	700	$995	$1.42	23d	1	1.29mi

Listing history 14 events

1. 2026-05-07
   historical $895
2. 2026-05-01
   listed $895
3. 2026-04-29
   historical $895
4. 2026-04-28
   price $895
5. 2026-04-17
   price $89,900
6. 2026-04-16
   price $950
7. 2026-04-08
   price $99,900
8. 2026-04-02
   listed $995
9. 2026-04-01
   listed $109,900 Active
10. 2025-04-24
    status Pending
11. 2025-04-24
    historical
12. 2025-03-19
    price $76,000
13. 2025-02-26
    listed $81,000 Active
14. 2008-11-19
    soldstatus $17,808

ⓘ 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: $1,493 · $124/mo
• Projected year-2 tax: $1,493 · $124/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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,946
• − Mortgage interest: −$5,036
• − Property taxes: −$1,493
• − Insurance: −$450
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$2,615
• Taxable income: $4,641
• Est. tax owed @ 24.0%: −$1,114
• After-tax cash flow: $4,674/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): 16,798
• Household income: $39,198
• Rent vs Own: 64.7% rent · 35.3% own
• Severe rent burden: 1389.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 19% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -37.92%
• Current HPI: 265.98
• Rent YoY: ▲ 3.49%
• 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

+404.8% since first listed

14 events — show timeline

• 2026-05-07 Rental Removed $895 TMLS
• 2026-05-01 Listed for Rent $895 TMLS
• 2026-04-29 Rental Removed $895 TMLS
• 2026-04-28 Price Changed $895 TMLS
• 2026-04-17 Price Changed $89,900 LPRMLS
• 2026-04-16 Price Changed $950 TMLS
• 2026-04-08 Price Changed $99,900 LPRMLS
• 2026-04-02 Listed for Rent $995 TMLS
• 2026-04-01 Listed $109,900 LPRMLS
• 2025-04-24 Pending — TMLS
• 2025-04-24 Listing Removed — TMLS
• 2025-03-19 Price Changed $76,000 TMLS
• 2025-02-26 Listed $81,000 TMLS
• 2008-11-19 Sold (Public Records) $17,808 Public Records

Property tax history

+10.4%/yr

Latest (2025): $1,493 · +62.3% YoY. Source: county tax records.