2008 Center St · Fayetteville, NC 28306

$98,000

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 76 Days on market

Built 1956 9,147 sqft lot Est $74k · 32% over ↓ 47% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2008 Center St, a beautifully renovated 2-bedroom, 1-bathroom home located conveniently close to downtown Fayetteville, All American Freeway, and I-95. This property boasts numerous updates, including new luxury vinyl plank (LVP) flooring, fresh paint, a new roof, and more, ensuring a move-in-ready experience for its next owner. This is an ideal opportunity for first-time homebuyers seeking an affordable property or for savvy investors looking for a property that meets the 1% rule and promises great potential for rental income.

Key facts

• Renovated
• Spacious living area
• Eat in kitchen

Tags

• RENOVATED
• LUXURY VINYL PLANK FLOORING
• EAT IN KITCHEN
• SPACIOUS LIVING AREA

Property features AI

Finance

• Other: Living area approximately 725 total; No finished below-grade area
• HOA & community: No association

Exterior

• Parking: 1 open parking space
• Utilities: Public water; Public sewer
• Home design: Single-story house; Entry level: One
• Construction: Vinyl siding; Other foundation
• Exterior features: Shingle roof; 0.21-acre lot; Publicly maintained road access

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Luxury vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (electric); No central cooling
• Interior features: Luxury vinyl flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: Douglas Byrd Middle (math 13% / reading 30%, grade F, #422 of 475 statewide, top 89%, 935 students, 100% FRL); Douglas Byrd High (math 22% / reading 42%, grade F, #445 of 535 statewide, top 84%, 940 students, 99% FRL) — zoned schools average 99% FRL vs 55% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 401 active listings in the ZIP; 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 $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $92,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.53% ✓
• Cap rate: 12.51%
• Cash-on-cash: 22.22%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $74,160
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1925 Progress St	0.10mi	2/1.0 (-1)	765 (+6%)	3mo	$79,000	$103	78
215 Dallas St	0.14mi	2/1.0 (-1)	720 (0%)	20mo	$115,000	$160	71
2219 Progress St	0.18mi	2/1.0 (-1)	672 (-7%)	22mo	$50,000	$74	57
1081 Progress St	0.39mi	2/1.5 (-1)	812 (+13%)	12mo	$125,000	$154	44
107 May St	0.51mi	3/1.0	648 (-10%)	21mo	$35,500	$55	42

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 · 0.9% rent growth · sell at horizon

5-year hold

• IRR: 12.6%
• Equity multiple: 1.49×
• Total profit: $13,402
• Equity at exit: $14,612

10-year hold

• IRR: 19.8%
• Equity multiple: 2.50×
• Total profit: $41,225
• Equity at exit: $8,473

Cash invested: $27,440 (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 28306

• Home prices YoY: -17.7%
• Rents YoY: 0.9%
• Active inventory: 401
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,499 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$121 /mo · $1,457/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $508

Break-even live

Break-even rent $856

Max offer price $98,000

Occupancy floor 61%

Sensitivity live

Price	-10% $564	-5% $536	+0% $508	+5% $480	+10% $453
Rent	-10% $390	-5% $449	+0% $508	+5% $567	+10% $627
Rate	-1.0pp $557	-0.5pp $533	base $508	+0.5pp $483	+1.0pp $457

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $98,000 Active 76 DOM
2. 2026-06-17
   days on market $98,000 Active 75 DOM
3. 2026-06-16
   days on market $98,000 Active 74 DOM
4. 2026-06-15
   days on market $98,000 Active 73 DOM
5. 2026-06-14
   days on market $98,000 Active 71 DOM
6. 2026-06-13
   days on market $98,000 Active 70 DOM
7. 2026-06-10
   days on market $98,000 Active 68 DOM
8. 2026-06-09
   days on market $98,000 Active 67 DOM
9. 2026-06-08
   days on market $98,000 Active 66 DOM
10. 2026-06-07
    days on market $98,000 Active 65 DOM
11. 2026-06-03
    days on market $98,000 Active 61 DOM
12. 2026-06-02
    days on market $98,000 Active 60 DOM
13. 2026-06-01
    days on market $98,000 Active 59 DOM
14. 2026-05-31
    days on market $98,000 Active 58 DOM
15. 2026-05-30
    days on market $98,000 Active 57 DOM
16. 2026-04-03
    listed $98,000 Active
17. 2025-04-24
    soldstatus $89,500
18. 2025-04-21
    soldstatus $89,500 Closed 544-char remark

    Show marketing remark (544 chars)

    Welcome to 2008 Center St, a beautifully renovated 2-bedroom, 1-bathroom home located conveniently close to downtown Fayetteville, All American Freeway, and I-95. This property boasts numerous updates, including new luxury vinyl plank (LVP) flooring, fresh paint, a new roof, and more, ensuring a move-in-ready experience for its next owner. This is an ideal opportunity for first-time homebuyers seeking an affordable property or for savvy investors looking for a property that meets the 1% rule and promises great potential for rental income.

19. 2025-04-01
    status Pending 544-char remark

    Show marketing remark (544 chars)

    Welcome to 2008 Center St, a beautifully renovated 2-bedroom, 1-bathroom home located conveniently close to downtown Fayetteville, All American Freeway, and I-95. This property boasts numerous updates, including new luxury vinyl plank (LVP) flooring, fresh paint, a new roof, and more, ensuring a move-in-ready experience for its next owner. This is an ideal opportunity for first-time homebuyers seeking an affordable property or for savvy investors looking for a property that meets the 1% rule and promises great potential for rental income.

20. 2025-02-28
    price $79,500 544-char remark

    Show marketing remark (544 chars)

    Welcome to 2008 Center St, a beautifully renovated 2-bedroom, 1-bathroom home located conveniently close to downtown Fayetteville, All American Freeway, and I-95. This property boasts numerous updates, including new luxury vinyl plank (LVP) flooring, fresh paint, a new roof, and more, ensuring a move-in-ready experience for its next owner. This is an ideal opportunity for first-time homebuyers seeking an affordable property or for savvy investors looking for a property that meets the 1% rule and promises great potential for rental income.

21. 2025-02-20
    price $81,500 544-char remark

    Show marketing remark (544 chars)

    Welcome to 2008 Center St, a beautifully renovated 2-bedroom, 1-bathroom home located conveniently close to downtown Fayetteville, All American Freeway, and I-95. This property boasts numerous updates, including new luxury vinyl plank (LVP) flooring, fresh paint, a new roof, and more, ensuring a move-in-ready experience for its next owner. This is an ideal opportunity for first-time homebuyers seeking an affordable property or for savvy investors looking for a property that meets the 1% rule and promises great potential for rental income.

22. 2025-01-31
    price $85,000 544-char remark

    Show marketing remark (544 chars)

    Welcome to 2008 Center St, a beautifully renovated 2-bedroom, 1-bathroom home located conveniently close to downtown Fayetteville, All American Freeway, and I-95. This property boasts numerous updates, including new luxury vinyl plank (LVP) flooring, fresh paint, a new roof, and more, ensuring a move-in-ready experience for its next owner. This is an ideal opportunity for first-time homebuyers seeking an affordable property or for savvy investors looking for a property that meets the 1% rule and promises great potential for rental income.

23. 2025-01-21
    listed $90,000 Active 544-char remark

    Show marketing remark (544 chars)

    Welcome to 2008 Center St, a beautifully renovated 2-bedroom, 1-bathroom home located conveniently close to downtown Fayetteville, All American Freeway, and I-95. This property boasts numerous updates, including new luxury vinyl plank (LVP) flooring, fresh paint, a new roof, and more, ensuring a move-in-ready experience for its next owner. This is an ideal opportunity for first-time homebuyers seeking an affordable property or for savvy investors looking for a property that meets the 1% rule and promises great potential for rental income.

24. 2024-11-08
    soldstatus $127,000
25. 2022-10-24
    soldstatus $185,000
26. 2022-10-24
    soldstatus $135,000

ⓘ 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: $1,457 · $121/mo
• Projected year-2 tax: $1,457 · $121/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°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: $17,990
• − Mortgage interest: −$5,490
• − Property taxes: −$1,457
• − Insurance: −$490
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$2,851
• Taxable income: $4,824
• Est. tax owed @ 24.0%: −$1,158
• After-tax cash flow: $4,940/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): 43,042
• Household income: $67,544
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1386.0

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 0.68)
• Race & ethnicity: White 44% Black 33% Hispanic / Latino 13% Two or more races 8% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 8% · Canada, South Korea, Jamaica
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 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: ▼ -51.69%
• Current HPI: 239.7281
• Rent YoY: ▲ 0.90%
• 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

-47.0% since first listed

11 events — show timeline

• 2026-04-03 Listed $98,000 TMLS
• 2025-04-24 Sold (Public Records) $89,500 Public Records
• 2025-04-21 Sold (MLS) $89,500 LPRMLS
• 2025-04-01 Pending — LPRMLS
• 2025-02-28 Price Changed $79,500 LPRMLS
• 2025-02-20 Price Changed $81,500 LPRMLS
• 2025-01-31 Price Changed $85,000 LPRMLS
• 2025-01-21 Listed $90,000 LPRMLS
• 2024-11-08 Sold (Public Records) $127,000 Public Records
• 2022-10-24 Sold (Public Records) $135,000 Public Records
• 2022-10-24 Sold (Public Records) $185,000 Public Records

Property tax history

+10.0%/yr

Latest (2025): $1,457 · +95.2% YoY. Source: county tax records.