3324 Hunting Bay Dr · Spring Lake, NC 28390

$175,000

3 bd · 2.0 ba · 960 sqft · SingleFamily public records · 2 Days on market

Built 1981 0.25 ac lot Est $173k · at est.

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Why this score? — see what drove the D 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 +15.7/30.0
• ARV discount +6.9/15.0
• DSCR +4.8/10.0
• 1% rule +4.1/10.0
• Rent growth +3.6/5.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

-Reduced price for this well maintained 3 bedrm, 2 full bath home featuring new carpet, freshly painted interior walls, new blinds and inside laundry room. . Fenced yard and storage in rear of carport. -Cute Cute 3 bdrm, 2 full bath home featuring new carpet, interior painted walls, new blinds, inside laundry room, fenced yard, storage room in rear of sngl carport. .. .Get PRICE!

Key facts

• Storage room
• Water heater
• Fenced backyard

Tags

• FENCED BACKYARD
• ONE-CAR CARPORT
• STORAGE ROOM
• DETACHED STORAGE SHED
• HVAC SYSTEM
• WATER HEATER

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Carport (1 space); Driveway parking
• Utilities: Public water; Public sewer
• Home design: Site-built single-story home; Entry at side door; One level; Residential multi-family zoning
• Construction: Brick and wood siding exterior; Shingle roof; No common walls; Built on conventional foundation (site built)
• Exterior features: Patio; Porch; Fenced backyard (wood); Private yard; Storage shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Ceramic tile; Luxury vinyl; Vinyl; Wood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric and heat pump heating (no separate heating system listed); Central air; Ceiling fans
• Interior features: Bathtub/shower combination; Ceiling fans; Eat-in kitchen; Laminate countertops; Open floorplan
• Laundry & utility: Indoor laundry room with washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $77 ($927/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 $159k (9.0% below list).
• Recommended offer: $159k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.9% in Spring Lake — 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 59/100 on livability (#543 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute 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: Manchester Elementary (math 22% / reading 32%, grade F, #1,033 of 1,410 statewide, top 76%, 271 students, 99% FRL); Spring Lake Middle (math 15% / reading 31%, grade F, #406 of 475 statewide, top 86%, 512 students, 99% FRL); Pine Forest High (math 73% / reading 51%, grade B-, #184 of 535 statewide, top 37%, 1,572 students, 62% FRL) — zoned schools average 87% FRL vs 55% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 351 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• This rent runs 30% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $65k; list at $175k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; major 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 $159,295 (9.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.91% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $172,800
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3333 Red Fox Rd	0.26mi	3/2.0	954 (-1%)	3mo	$150,000	$157	84
3340 Hunting Bay Dr	0.13mi	3/2.0	1,073 (+12%)	4mo	$193,000	$180	71
3324 Balero Ct	0.21mi	3/2.0	1,056 (+10%)	4mo	$197,500	$187	71
3305 Hunting Bay Dr	0.08mi	3/2.0	1,101 (+15%)	1mo	$202,000	$183	70
119 Deerfield Dr	0.14mi	3/2.0	1,058 (+10%)	10mo	$202,000	$191	68
3327 Balero Ct	0.19mi	3/2.0	1,037 (+8%)	19mo	$183,000	$176	62
3334 Antler Dr	0.16mi	3/2.0	1,066 (+11%)	17mo	$190,000	$178	60
3330 Balero Ct	0.23mi	3/2.0	1,061 (+10%)	16mo	$214,600	$202	58
240 Eppingdale Dr	0.33mi	3/2.0	1,056 (+10%)	11mo	$186,500	$177	58
3332 Annawood Ct	0.28mi	3/2.0	1,092 (+14%)	10mo	$175,000	$160	56
3326 Donnett Dr	0.34mi	3/2.0	1,104 (+15%)	11mo	$204,000	$185	50

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 · 4.49% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.57×
• Total profit: $-21,007
• Equity at exit: $26,093

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,678
• Equity at exit: $15,131

Cash invested: $49,000 (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 28390

• Home prices YoY: -15.2%
• Rents YoY: 4.5%
• Active inventory: 351
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,593 high
• Mortgage (P&I): −$918
• Tax from tax record: −$191 /mo · $2,287/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $77

Break-even live

Break-even rent $1,495

Max offer price $175,000

Occupancy floor 90%

Sensitivity live

Price	-10% $176	-5% $127	+0% $77	+5% $28	+10% $-22
Rent	-10% $-49	-5% $14	+0% $77	+5% $140	+10% $203
Rate	-1.0pp $165	-0.5pp $122	base $77	+0.5pp $32	+1.0pp $-14

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
302 Wapiti Dr Spring Lake, NC	3.0	2.0	1100	$1,750	$1.59	25d	1	0.17mi
415 Vass Rd Spring Lake, NC	3.0	2.0	1050	$1,300	$1.24	25d	1	0.74mi
222-232 W Manchester Rd Unit Manchester Arms Apartments Spring Lake, NC	2.0	1.0	1000	$1,200	$1.20	25d	1	0.84mi
222 W Manchester Rd Unit 222 Spring Lake, NC	2.0	1.0	1000	$1,200	$1.20	25d	1	0.85mi
222 W Manchester Rd Unit 222 Spring Lake, NC	2.0	1.0	1000	$1,200	$1.20	23d	1	0.85mi

Listing history 2 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   listed $175,000 Active 2 DOM

ⓘ 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: $2,287 · $191/mo
• Projected year-2 tax: $2,287 · $191/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $19,115
• − Mortgage interest: −$9,803
• − Property taxes: −$2,287
• − Insurance: −$875
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$5,091
• Taxable loss: −$1,998
• Est. tax savings @ 24.0%: +$480
• After-tax cash flow: $1,407/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 — Spring Lake

• Score: 59/100
• State rank: #543
• US rank: #19811

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Lake, NC
• County: Harnett County · 125,715 people
• City population: 24,000
• Metro: Fayetteville, NC
• Population (ZIP): 24,000
• Household income: $62,972
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 811.0

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 41% Black 33% Hispanic / Latino 14% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4%
• Common ancestry: Italian 1% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, South Korea, Jamaica
• Languages at home: 88% English-only · Spanish 8% German/W. Germanic 1% 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: ▼ -37.43%
• Current HPI: 207.9349
• Rent YoY: ▲ 4.49%
• 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

+268.7% since first listed

8 events — show timeline

• 2026-06-12 Listed $175,000 TMLS
• 2019-10-11 Sold (Public Records) $65,000 Public Records
• 2016-03-02 Sold (Public Records) $60,000 Public Records
• 2016-03-01 Sold (MLS) $59,950 LPRMLS
• 2016-01-12 Listed $59,950 LPRMLS
• 2015-12-24 Listing Removed — TMLS
• 2015-06-23 Listed $62,500 TMLS
• 1986-08-27 Sold (Public Records) $47,470 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,287 · +65.8% YoY. Source: county tax records.