1866 Tryon Dr #5 · Fayetteville, NC 28303

$85,000

2 bd · 2.0 ba · 1,011 sqft · Condo · 30 Days on market

Built 1986 Good condition $180/mo HOA · 15% of rent ↓ 11% since listing

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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 +24.2/30.0
• 1% rule +9.0/10.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Schools +3.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully updated second-level condo featuring a bright, open-concept layout with two spacious bedrooms and two full bathrooms. The inviting living area boasts soaring cathedral ceilings, a cozy fireplace, and stylish new LVP flooring complemented by fresh paint throughout the main living spaces. Step outside to your private balcony--an ideal spot to enjoy morning coffee or unwind after a long day. The well-appointed kitchen seamlessly connects to the living and dining areas, creating a perfect flow for both everyday living and entertaining. Additional highlights include a dedicated storage shed, offering plenty of space for seasonal items, tools, or outdoor gear. Resident

Key facts

• $180 HOA
• Parking
• Built 1986

Property features AI

Finance

• Other: Living area approximately 1,011 above-grade square feet; Located in Cumberland County, postal code 28303
• HOA & community: Association: Briacliff; Monthly association fee of $180 covering grounds maintenance; Not a senior community

Exterior

• Parking: Open parking (1 space) in parking lot
• Utilities: Public water; Public sewer; Cable available
• Home design: One-story unit; Other structure type
• Construction: Cedar and wood siding exterior; Shingle roof; Slab foundation; Built as part of a multi-unit building (unit #5)
• Exterior features: Deck; Rain gutters; Exterior storage

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Range hood; Refrigerator; Self-cleaning oven
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air; Heat pump; Fireplace(s) for supplemental heat; Central air
• Interior features: Bathtub/shower combination; Cathedral ceilings; Ceiling fans; Pantry; Walk-in closet(s); Insulated windows; Fireplace (living room, prefabricated, wood burning)
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: 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: Luther Nick Jeralds Middle (math 13% / reading 24%, grade F, #436 of 475 statewide, top 93%, 616 students, 100% FRL) — zoned schools average 100% FRL vs 55% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 18% at this address vs 36% district-wide (-18 pts) — the specific schools serving this property underperform the Cumberland County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.0%/yr); 280 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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: 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 $83,725 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.40% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.58%
• DSCR: 1.38
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.01% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-2,795
• Equity at exit: $12,674

10-year hold

• IRR: 6.7%
• Equity multiple: 1.51×
• Total profit: $12,092
• Equity at exit: $7,349

Cash invested: $23,800 (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 28303

• Home prices YoY: -25.4%
• Rents YoY: 3.0%
• Active inventory: 280
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,187 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$180
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $170

Break-even live

Break-even rent $971

Max offer price $85,000

Occupancy floor 81%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1808 Tryon Dr Fayetteville, NC	2.0	2.0	1066	$995	$0.93	23d	1	0.04mi
1861 Tryon Dr Unit 3 Fayetteville, NC	2.0	2.0	1050	$995	$0.95	23d	1	0.09mi
1882 Tryon Dr #4 Fayetteville, NC	2.0	2.0	1063	$1,100	$1.03	13d	1	0.10mi
1849 Tryon Dr Fayetteville, NC	2.0	2.0	1061	$998	$0.94	23d	2	0.15mi
4420 Blanton Rd Unit 4420-H Fayetteville, NC	2.0	1.5	990	$1,025	$1.04	13d	1	0.21mi
1909 Tryon Dr #7 Fayetteville, NC	2.0	2.0	1060	$1,050	$0.99	23d	1	0.21mi
1907 Eichelberger Dr Fayetteville, NC	3.0	2.0	1463	$1,650	$1.13	23d	1	0.27mi
3374 Galleria Dr Fayetteville, NC	3.0	2.0	1350	$1,200	$0.89	23d	1	0.42mi
1615 Morehead Ave Fayetteville, NC	3.0	2.0	1073	$1,400	$1.30	23d	1	0.43mi
1937 Sardonyx Rd Fayetteville, NC	2.0	2.0	1200	$1,150	$0.96	23d	1	0.46mi
844 Anita Rd Fayetteville, NC	2.0	1.0	850	$850	$1.00	13d	1	0.59mi
710 Villagio Pl Fayetteville, NC	1.0–2.0	1.0–2.0	984	$1,686	$1.71	13d	9	0.61mi
1199 Wrenwood Ct Fayetteville, NC	2.0	2.5	1224	$1,345	$1.10	23d	1	0.65mi
1198 Windham Ct Fayetteville, NC	2.0	2.5	1200	$1,100	$0.92	13d	1	0.66mi
1276 N Forest Dr Fayetteville, NC	2.0	2.5	1200	$1,295	$1.08	23d	1	0.67mi
1160 Windham Ct Fayetteville, NC	2.0	2.5	1200	$1,250	$1.04	23d	1	0.70mi
5109 Higgins St Fayetteville, NC	2.0	1.0	862	$1,000	$1.16	23d	1	0.76mi
5112 Cannon St Fayetteville, NC	2.0	1.0	750	$949	$1.27	13d	1	0.79mi
1914 King George Dr Fayetteville, NC	2.0	1.0	800	$850	$1.06	23d	1	0.87mi
3318 Rogers Dr Fayetteville, NC	3.0	2.0	1392	$1,750	$1.26	13d	1	0.89mi
1156 Acorn St Fayetteville, NC	2.0	1.0	800	$1,000	$1.25	23d	1	0.98mi
4916 Schmidt St Fayetteville, NC	2.0	1.0	801	$945	$1.18	23d	1	1.00mi
908 William Clark Rd Fayetteville, NC	2.0	1.0	750	$975	$1.30	13d	1	1.01mi
1404 Hibiscus Rd Fayetteville, NC	3.0	1.5	1418	$1,350	$0.95	21d	1	1.10mi
1350 Shaw Rd Fayetteville, NC	3.0	2.0	1339	$1,399	$1.04	13d	1	1.13mi
2110 Rogers Dr Fayetteville, NC	1.0	1.0	700	$895	$1.28	23d	1	1.14mi
1014 Enclave Dr Fayetteville, NC	1.0–3.0	1.0–2.0	1112	$1,512	$1.36	13d	19	1.17mi
5745 Holland St Fayetteville, NC	3.0	1.0	1140	$1,650	$1.45	23d	1	1.21mi
421 Squirrel St Unit A Fayetteville, NC	2.0	1.0	780	$900	$1.15	23d	1	1.25mi
4943 Fieldcrest Dr Unit B Fayetteville, NC	1.0	1.0	825	$799	$0.97	23d	1	1.33mi
1000a Elm St Fayetteville, NC	1.0–2.0	1.0–2.0	675	$1,403	$2.08	13d	23	1.35mi
4959 Fieldcrest Dr Fayetteville, NC	1.0	1.0	850	$725	$0.85	13d	1	1.36mi
1216 Superior Pointe Pl Fayetteville, NC	3.0	2.5	1288	$1,450	$1.13	23d	1	1.36mi
2056 Wheeling St Fayetteville, NC	3.0	2.5	1401	$1,595	$1.14	23d	1	1.41mi
4981 Galveston Dr Fayetteville, NC	2.0	1.5	750	$1,050	$1.40	23d	1	1.42mi
1981 Wheeling St Fayetteville, NC	3.0	2.0	1400	$1,500	$1.07	23d	1	1.46mi
622 Dashland Dr Unit A Fayetteville, NC	1.0	1.0	700	$835	$1.19	13d	1	1.48mi
622 Dashland Dr Unit B Fayetteville, NC	2.0	1.5	750	$940	$1.25	13d	1	1.48mi

HOA detail condo

• Monthly dues: $180 · $2,160/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-07
   statusdays on market $85,000 Pending 30 DOM
2. 2026-06-03
   days on market $85,000 Active 27 DOM
3. 2026-06-02
   days on market $85,000 Active 26 DOM
4. 2026-06-01
   days on market $85,000 Active 25 DOM
5. 2026-05-31
   days on market $85,000 Active 24 DOM
6. 2026-05-30
   days on market $85,000 Active 23 DOM
7. 2026-05-07
   listed $85,000 Active
8. 2026-01-17
   historical
9. 2025-12-30
   listed $90,000 Active
10. 2025-11-10
    price $93,000
11. 2025-11-07
    status Active
12. 2025-10-06
    status Pending
13. 2025-10-06
    historical
14. 2025-09-13
    listed $95,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 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: $14,242
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − HOA: −$2,160
• − Depreciation: −$2,473
• Taxable income: $869
• Est. tax owed @ 24.0%: −$209
• After-tax cash flow: $1,833/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained second-level condo features updated interiors and a good curb appeal, making it a solid investment opportunity.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace ceiling fans — Improves aesthetics and energy efficiency
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace ceiling fans — Improves aesthetics and energy efficiency ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 30,965
• Household income: $58,223
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1370.0

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: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 39% Black 37% Two or more races 11% Hispanic / Latino 10% Asian 4% Pacific Islander 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 3% Serbian 1% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 7% Other Asian/Pacific 2% 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: ▼ -77.14%
• Current HPI: 226.5097
• Rent YoY: ▲ 3.01%
• 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

-10.5% since first listed

8 events — show timeline

• 2026-05-07 Listed $85,000 TMLS
• 2026-01-17 Listing Removed — TMLS
• 2025-12-30 Listed $90,000 TMLS
• 2025-11-10 Price Changed $93,000 TMLS
• 2025-11-07 Relisted — TMLS
• 2025-10-06 Pending — TMLS
• 2025-10-06 Listing Removed — TMLS
• 2025-09-13 Listed $95,000 TMLS