309 Central Dr

Fayetteville, NC 28301

$69,500B+

3 bd · 1.0 ba · 800 sqft · Built 1942 · SingleFamily · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,220/mo
• Mortgage (P&I): −$364
• Tax + insurance: −$555
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $44/mo
• Annual: $524/yr
• Cap rate: 14.41%
• Cash-on-cash: 28.99%
• DSCR: 2.29
• 1% rule: 1.75%
• Cash to close: $19,460

Investor read

• This is a 3-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $44 ($524/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 29 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $481 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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: Margaret Willis Elementary (math 12% / reading 17%, grade F, #1,331 of 1,410 statewide, top 96%, 299 students, 99% FRL); R Max Abbott Middle (math 31% / reading 45%, grade F, #251 of 475 statewide, top 54%, 759 students, 99% FRL); Terry Sanford High (math 49% / reading 52%, grade D+, #306 of 535 statewide, top 57%, 1,224 students, 59% FRL) — zoned schools average 85% FRL vs 55% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $427/mo; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.5%/yr); 135 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• Current owner paid $25k; list at $70k implies a 178% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 78% 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.
• Cap rate 14.4% vs local median 4.8% 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.
• This rent runs 37% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.