1469 Thelbert Dr · Fayetteville, NC 28301

$167,000

3 bd · 2.0 ba · 1,643 sqft · SingleFamily public records · 150 Days on market

Built 1963 Est $219k · 24% under

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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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.9/10.0
• 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

Spacious brick ranch home offering 3 bedrooms, 2 bathrooms. Enjoy two large living areas — one anchored by a cozy fireplace and built-in bookshelves. Hardwood, tile and carpet flooring create character and warmth, while ceiling fans and central air ensure year-round comfort. Slide into the carport for easy parking. Convenient to schools, shopping, and Fort Bragg. Home is tenant occupied.

Key facts

• Ceiling fans
• Brick ranch home
• Cozy fireplace

Tags

• BRICK RANCH HOME
• TWO LARGE LIVING AREAS
• COZY FIREPLACE
• BUILT-IN BOOKSHELVES
• HARDWOOD TILE CARPET FLOORING
• CEILING FANS

Property features AI

Exterior

• Parking: Attached carport; 1 covered parking space; 1-car carport
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Brick veneer construction
• Exterior features: Located in the SEABROOK HL subdivision; Zoned SF6 (Single Family Res 6)

Interior

• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Vinyl flooring; Den fireplace (1 total); Crawl space basement

🏷️ Possibly a rental listed for sale. The $167,000 price doesn't fit this home's estimated sale value (~$218,519) 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/2.0-bath single-family listed at $167k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/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 $165k (0.9% below list).
• Recommended offer: $147k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• At $1,655/mo this rent would consume 51% of the median local household income ($39k/yr) (locally 1389% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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.
• Current owner paid $92k; list at $167k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% 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 $146,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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: 0.99% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.57%
• DSCR: 1.20
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $218,519
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1901 Bain Dr	0.31mi	4/2.0 (+1)	1,644 (+0%)	2mo	$189,000	$115	78
901 Edenwood Dr	0.25mi	4/2.5 (+1)	1,612 (-2%)	2mo	$249,900	$155	76
807 Cape Fear Ave	0.48mi	3/2.0	1,670 (+2%)	0mo	$190,000	$114	74
830 Edenwood Dr	0.23mi	3/2.5	1,740 (+6%)	8mo	$205,000	$118	71
1900 Torrey Dr	0.10mi	4/2.0 (+1)	1,527 (-7%)	10mo	$203,000	$133	70
833 Anarine St	0.44mi	2/2.0 (-1)	1,680 (+2%)	4mo	$155,000	$92	67
1612 Rogers Dr	0.43mi	3/2.0	1,541 (-6%)	8mo	$252,000	$164	62
1813 Spruce St	0.58mi	4/3.0 (+1)	1,638 (-0%)	4mo	$262,000	$160	60
1717 Mcgougan Rd	0.51mi	4/2.0 (+1)	1,739 (+6%)	9mo	$224,900	$129	54
1061 Mohawk Ave	0.74mi	3/3.0	1,547 (-6%)	1mo	$223,000	$144	51
1810 Catawba St	0.65mi	4/2.5 (+1)	1,772 (+8%)	1mo	$140,000	$79	49
936 Mckimmon Rd	0.57mi	3/2.0	1,396 (-15%)	4mo	$252,000	$181	45

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: -8.6%
• Equity multiple: 0.68×
• Total profit: $-14,890
• Equity at exit: $24,900

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $5,076
• Equity at exit: $14,439

Cash invested: $46,760 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,655 high
• Mortgage (P&I): −$876
• Tax from tax record: −$184 /mo · $2,208/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $178

Break-even live

Break-even rent $1,430

Max offer price $167,000

Occupancy floor 84%

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1628 Murchison Rd Fayetteville, NC	3.0	1.0	1700	$1,295	$0.76	23d	1	0.43mi
809 Cape Fear Ave Fayetteville, NC	2.0	1.0	1225	$1,450	$1.18	21d	1	0.50mi
808 Ethelored St Fayetteville, NC	2.0	2.0	1701	$1,395	$0.82	23d	1	0.52mi
1704 Newark Ave Fayetteville, NC	2.0	1.0	1100	$850	$0.77	23d	1	0.55mi
1000 Ivy Rd Fayetteville, NC	3.0	1.0	1200	$1,400	$1.17	23d	1	0.59mi
1817 McGougan Rd Fayetteville, NC	3.0	2.0	1811	$2,100	$1.16	14d	1	0.62mi
1820 McGougan Rd Fayetteville, NC	3.0	2.5	1967	$1,850	$0.94	23d	1	0.64mi
536 Pearl St Fayetteville, NC	2.0	1.0	1101	$1,349	$1.23	14d	1	0.67mi
530 Pearl St Unit 1367379P Fayetteville, NC	3.0	2.0	1194	$3,577	$3.00	14d	1	0.70mi
600 Glenville Ave Fayetteville, NC	2.0	1.5	1105	$1,295	$1.17	14d	1	0.74mi
2328 Barrington Cir Fayetteville, NC	2.0	1.0	1050	$1,000	$0.95	21d	1	0.80mi
2326 Barrington Cir Fayetteville, NC	2.0	1.0	1050	$1,200	$1.14	14d	1	0.81mi
2326 Barrington Cir Fayetteville, NC	2.0	1.0	1050	$1,200	$1.14	23d	1	0.81mi
424 Pearl St Unit 1367380P Fayetteville, NC	4.0	3.0	2077	$4,419	$2.13	14d	1	0.85mi
1228 Woodland Dr Unit 1 Fayetteville, NC	2.0	2.0	1465	$1,595	$1.09	14d	1	0.88mi
1014 Enclave Dr Fayetteville, NC	1.0–3.0	1.0–2.0	1112	$1,685	$1.52	14d	19	0.97mi
1713 Fort Bragg Rd Unit 1367383P Fayetteville, NC	4.0	2.0	1894	$3,565	$1.88	14d	1	1.01mi
104 Brett Ct Fayetteville, NC	2.0	2.5	1210	$1,400	$1.16	21d	1	1.05mi
501 Lambert St Fayetteville, NC	2.0	2.0	1200	$1,230	$1.02	14d	3	1.05mi
1547 Londonderry Pl Fayetteville, NC	3.0	2.5	1636	$1,750	$1.07	23d	1	1.17mi
1216 Superior Pointe Pl Fayetteville, NC	3.0	2.5	1288	$1,450	$1.13	23d	1	1.19mi
2532 Sourwood Dr Fayetteville, NC	4.0	2.0	1562	$1,700	$1.09	23d	1	1.23mi
1507 Westlawn Ave Fayetteville, NC	2.0	2.0	1386	$1,500	$1.08	23d	1	1.25mi
2012 Fig Ct Fayetteville, NC	3.0	2.5	1676	$1,945	$1.16	23d	1	1.29mi
2209 Morganton Rd Fayetteville, NC	2.0	2.0	1163	$1,317	$1.13	14d	7	1.30mi
318 Fairwood Ct Fayetteville, NC	3.0	2.0	1126	$1,550	$1.38	23d	1	1.34mi
112 Quincy St Fayetteville, NC	3.0	1.0	1080	$1,320	$1.22	14d	1	1.36mi
3318 Rogers Dr Fayetteville, NC	3.0	2.0	1392	$1,750	$1.26	14d	1	1.38mi
1100 Clarendon St #402 Fayetteville, NC	2.0	2.0	1073	$1,400	$1.30	21d	1	1.40mi
211 Ellington St Fayetteville, NC	2.0	1.5	1050	$1,395	$1.33	23d	1	1.45mi

Listing history 29 events

1. 2026-06-18
   days on market $167,000 Active 150 DOM
2. 2026-06-17
   days on market $167,000 Active 149 DOM
3. 2026-06-16
   days on market $167,000 Active 148 DOM
4. 2026-06-15
   days on market $167,000 Active 147 DOM
5. 2026-06-14
   days on market $167,000 Active 145 DOM
6. 2026-06-13
   days on market $167,000 Active 144 DOM
7. 2026-06-10
   days on market $167,000 Active 142 DOM
8. 2026-06-09
   days on market $167,000 Active 141 DOM
9. 2026-06-08
   days on market $167,000 Active 140 DOM
10. 2026-06-07
    days on market $167,000 Active 139 DOM
11. 2026-06-03
    days on market $167,000 Active 135 DOM
12. 2026-06-02
    days on market $167,000 Active 134 DOM
13. 2026-06-01
    days on market $167,000 Active 133 DOM
14. 2026-05-31
    days on market $167,000 Active 132 DOM
15. 2026-05-30
    days on market $167,000 Active 131 DOM
16. 2026-05-13
    price $167,000
17. 2026-02-05
    price $170,000
18. 2026-01-19
    listed $175,000 Active
19. 2025-11-04
    listed $175,000 Active
20. 2025-09-24
    listed $175,000 Active
21. 2025-05-16
    historical $1,475
22. 2025-04-15
    price $1,475
23. 2025-03-22
    listed $1,499
24. 2025-03-21
    historical $1,499
25. 2025-03-03
    listed $1,499
26. 2021-09-16
    soldstatus $92,500
27. 2017-06-29
    soldstatus $32,000
28. 2017-05-08
    listed $45,000
29. 1996-08-08
    soldstatus $69,000

ⓘ 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: $2,208 · $184/mo
• Projected year-2 tax: $2,208 · $184/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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 75% 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: $19,859
• − Mortgage interest: −$9,355
• − Property taxes: −$2,208
• − Insurance: −$835
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$4,858
• Taxable loss: −$574
• Est. tax savings @ 24.0%: +$138
• After-tax cash flow: $2,275/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

+142.0% since first listed

14 events — show timeline

• 2026-05-13 Price Changed $167,000 LPRMLS
• 2026-02-05 Price Changed $170,000 LPRMLS
• 2026-01-19 Listed $175,000 LPRMLS
• 2025-11-04 Listed $175,000 LPRMLS
• 2025-09-24 Listed $175,000 LPRMLS
• 2025-05-16 Rental Removed $1,475 TMLS
• 2025-04-15 Price Changed $1,475 TMLS
• 2025-03-22 Listed for Rent $1,499 TMLS
• 2025-03-21 Rental Removed $1,499 TMLS
• 2025-03-03 Listed for Rent $1,499 TMLS
• 2021-09-16 Sold (Public Records) $92,500 Public Records
• 2017-06-29 Sold (MLS) $32,000 LPRMLS
• 2017-05-08 Listed $45,000 LPRMLS
• 1996-08-08 Sold (Public Records) $69,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,208 · +51.6% YoY. Source: county tax records.