3238 Glenmore Dr · Hope Mills, NC 28348

$204,900

3 bd · 3.0 ba · 1,604 sqft · SingleFamily public records · 38 Days on market

Built 1974 0.26 ac lot Est $247k · 17% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.8/30.0
• Rent growth +3.6/5.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• 1% rule +3.2/10.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming Ranch starter home in the heart of Hope Mills. This home is ready for you to make it your own! Cute 3 bedroom 2 full baths. Eat in kitchen. Plenty of storage. Back yard patio & rear fencing. Close to schools , shopping and local dining. Easy access w - 20 minute commute to Ft Bragg. Schedule a showing today.

Key facts

• 0.26 acre lot
• Built 1974
• Listed 38 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential zoning (R10 - Residential District)
• Construction: Brick veneer exterior
• Exterior features: Partial backyard fencing; Corner lot; Level lot; Shed on the property; Paved road access

Interior

• Kitchen: Range; Microwave; Refrigerator; Eat-in kitchen layout
• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air; Electric cooling; Ceiling fans
• Interior features: Ceiling fans; Eat-in kitchen; Storage; Wood burning stove
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-55 ($-662/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (17.6% below list).
• Recommended offer: $169k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.8% in Hope Mills — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 67/100 on livability (#234 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D-, 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: C Wayne Collier Elementary (math 26% / reading 27%, grade F, #1,073 of 1,410 statewide, top 77%, 526 students, 99% FRL); Hope Mills Middle (math 27% / reading 34%, grade F, #331 of 475 statewide, top 70%, 514 students, 99% FRL); South View High (math 60% / reading 43%, grade D+, #299 of 535 statewide, top 56%, 1,502 students, 66% FRL) — zoned schools average 88% FRL vs 55% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 319 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 31% of the median local income ($66k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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 $89k; list at $205k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $168,778 (17.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $247,016
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3238 Glenmore Dr	0.00mi	3/2.0	1,785 (+11%)	0mo	$204,900	$115	77
3522 Golfview Rd	0.32mi	3/2.0	1,603 (-0%)	6mo	$205,000	$128	76
5828 Fairway Dr	0.51mi	3/2.5	1,607 (+0%)	1mo	$249,320	$155	73
3601 Golfview Rd	0.38mi	3/2.0	1,682 (+5%)	2mo	$236,600	$141	69
3533 Rittenour Dr	0.28mi	3/2.5	1,397 (-13%)	1mo	$249,900	$179	63
3603 Colonial Cv	0.29mi	3/2.0	1,445 (-10%)	4mo	$221,000	$153	63
5714 Crenshaw Dr	0.66mi	3/2.0	1,510 (-6%)	0mo	$242,500	$161	55
5904 Genesis Ct	0.73mi	3/2.0	1,681 (+5%)	2mo	$268,900	$160	53
3638 Golfview Rd	0.41mi	3/2.0	1,814 (+13%)	5mo	$279,900	$154	51
3732 Floyd Dr	0.60mi	3/2.5	1,792 (+12%)	1mo	$265,000	$148	49
3718 Floyd Dr	0.64mi	3/2.0	1,749 (+9%)	3mo	$265,000	$152	49
5803 Labonte Dr	0.65mi	3/2.0	1,432 (-11%)	4mo	$286,400	$200	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 · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.40×
• Total profit: $-34,509
• Equity at exit: $30,551

10-year hold

• IRR: -6.5%
• Equity multiple: 0.56×
• Total profit: $-25,270
• Equity at exit: $17,716

Cash invested: $57,372 (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 28348

• Home prices YoY: -14.0%
• Rents YoY: 4.3%
• Active inventory: 319
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,688 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$229 /mo · $2,744/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $-55

Break-even live

Break-even rent $1,758

Max offer price $195,148

Occupancy floor 98%

Sensitivity live

Price	-10% $61	-5% $3	+0% $-55	+5% $-113	+10% $-171
Rent	-10% $-189	-5% $-122	+0% $-55	+5% $11	+10% $78
Rate	-1.0pp $48	-0.5pp $-3	base $-55	+0.5pp $-108	+1.0pp $-162

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3506 Shipstone Pl Hope Mills, NC	2.0	2.0	1280	$1,380	$1.08	15d	3	0.21mi
3636 Metric Dr Hope Mills, NC	3.0	1.5	1100	$1,400	$1.27	15d	1	0.29mi
3541 Rittenour Dr Hope Mills, NC	3.0	2.0	1552	$1,825	$1.18	15d	1	0.32mi
3332 Kenmont Ln Unit E Hope Mills, NC	2.0	2.5	1100	$1,150	$1.05	25d	1	0.63mi
3511 Birchfield Ct Fayetteville, NC	2.0–3.0	2.0	1270	$1,685	$1.33	15d	5	0.72mi
3766 Colonial Cv Hope Mills, NC	3.0	1.5	1475	$1,445	$0.98	15d	1	0.83mi
5959 Rehoboth Rd Hope Mills, NC	3.0	2.0	1667	$1,795	$1.08	15d	1	0.85mi
3462 Marty Cir Hope Mills, NC	3.0	2.0	1120	$1,250	$1.12	25d	1	0.90mi
5715 Walkabout Rd Hope Mills, NC	3.0	2.0	1143	$1,675	$1.47	25d	1	1.04mi
2935 Chillingworth Dr Fayetteville, NC	3.0	2.0	1403	$1,750	$1.25	15d	1	1.36mi
6258 Stoney Point Loop Fayetteville, NC	3.0	2.5	1799	$2,300	$1.28	15d	1	1.45mi

Listing history 4 events

1. 2026-04-17
   listed $204,900 Active
2. 2013-10-04
   listed $105,000
3. 2005-12-02
   soldstatus $89,000
4. 1997-12-22
   soldstatus $73,000

ⓘ 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: $2,744 · $229/mo
• Projected year-2 tax: $2,744 · $229/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: $20,253
• − Mortgage interest: −$11,478
• − Property taxes: −$2,744
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$5,961
• Taxable loss: −$4,194
• Est. tax savings @ 24.0%: +$1,007
• After-tax cash flow: $344/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 — Hope Mills

• Score: 67/100
• State rank: #234
• US rank: #10761

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hope Mills, NC
• County: Cumberland County · 265,314 people
• City population: 39,196
• Metro: Fayetteville, NC
• Population (ZIP): 39,196
• Household income: $66,129
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 746.0

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 0.67)
• Race & ethnicity: White 49% Black 27% Hispanic / Latino 13% Two or more races 11% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5%
• Common ancestry: Romanian 2% Lithuanian 1% Serbian 1%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 90% English-only · Spanish 8% Other Indo-European 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: ▼ -37.14%
• Current HPI: 228.3122
• Rent YoY: ▲ 4.28%
• 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

+180.7% since first listed

4 events — show timeline

• 2026-04-17 Listed $204,900 LPRMLS
• 2013-10-04 Listed $105,000 LPRMLS
• 2005-12-02 Sold (Public Records) $89,000 Public Records
• 1997-12-22 Sold (Public Records) $73,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $2,744 · +44.1% YoY. Source: county tax records.