313, 315 S Racepath St · Fayetteville, NC 28301

$135,000

3 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 23 Days on market

Built 1933 10,019 sqft lot Est $187k · 28% under

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Why this score? — see what drove the B 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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• 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 MLS

Excellent Investment Opportunity!! 3-bedroom, 1-bathroom home situated on a spacious half-acre lot, with a covered storage building and partially fenced yard. While the property requires vision and TLC, its potential for a significant return on investment is unmistakable. Prime Location: Located in Fayetteville, a growing area with downtown amenities. Generous Lot Size: The half-acre lot provides opportunities for expansion and development. Fixer-Upper Potential: The property is a blank canvas, allowing for renovations that can significantly increase its market value. Covered Shed: Ideal for storage or conversion into a workshop, adding value to the property. Partial Fencing: Provides a foundation for privacy and security, appealing to potential future tenants or buyers.

Key facts

• 0.23 acre lot
• Built 1933
• Listed 23 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.23 acres

Interior

• Kitchen: Refrigerator included
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Insulated windows; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: 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 79% FRL vs 55% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 132 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,611/mo this rent would consume 49% 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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $44k; list at $135k implies a 210% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.50%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $187,404
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 S Racepath St	0.06mi	3/1.5	1,248 (+7%)	6mo	$85,000	$68	78
610 School St	0.49mi	3/2.0	1,027 (-12%)	21mo	$165,000	$161	36

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: 4.1%
• Equity multiple: 1.16×
• Total profit: $5,986
• Equity at exit: $20,129

10-year hold

• IRR: 14.0%
• Equity multiple: 2.15×
• Total profit: $43,292
• Equity at exit: $11,672

Cash invested: $37,800 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,611 high
• Mortgage (P&I): −$708
• Tax from tax record: −$83 /mo · $1,002/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $425

Break-even live

Break-even rent $1,073

Max offer price $135,000

Occupancy floor 69%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
326 Hawley Ln Fayetteville, NC	2.0	1.0	786	$1,300	$1.65	23d	1	0.77mi
123 Anderson St Fayetteville, NC	2.0	2.0	1500	$1,800	$1.20	23d	1	1.16mi
159 Maxwell St Unit 200 Fayetteville, NC	2.0	2.0	1000	$1,450	$1.45	23d	1	1.17mi
123 Pennmark Pl Fayetteville, NC	2.0	2.5	1380	$1,600	$1.16	14d	1	1.23mi
450 Hay St Fayetteville, NC	1.0–2.0	1.0–2.0	799	$1,745	$2.18	14d	3	1.36mi

Listing history 30 events

1. 2026-06-18
   days on market $135,000 Active 23 DOM
2. 2026-06-17
   days on market $135,000 Active 22 DOM
3. 2026-06-16
   days on market $135,000 Active 21 DOM
4. 2026-06-15
   days on market $135,000 Active 20 DOM
5. 2026-06-14
   days on market $135,000 Active 18 DOM
6. 2026-06-13
   days on market $135,000 Active 17 DOM
7. 2026-06-10
   days on market $135,000 Active 15 DOM
8. 2026-06-09
   days on market $135,000 Active 14 DOM
9. 2026-06-08
   days on market $135,000 Active 13 DOM
10. 2026-06-07
    days on market $135,000 Active 12 DOM
11. 2026-06-03
    days on market $135,000 Active 8 DOM
12. 2026-06-02
    days on market $135,000 Active 7 DOM
13. 2026-06-01
    days on market $135,000 Active 6 DOM
14. 2026-05-31
    days on market $135,000 Active 5 DOM
15. 2026-05-30
    days on market $135,000 Active 4 DOM
16. 2026-05-27
    listed $135,000 Active
17. 2026-05-22
    historical $1,200
18. 2026-04-02
    listed $1,200
19. 2026-04-02
    historical $1,200
20. 2026-04-01
    listed $1,200
21. 2024-08-11
    historical $1,400
22. 2024-07-19
    price $1,400
23. 2024-05-28
    listed $1,500
24. 2024-01-04
    soldstatus $43,500 Closed 781-char remark

    Show marketing remark (781 chars)

    Excellent Investment Opportunity!! 3-bedroom, 1-bathroom home situated on a spacious half-acre lot, with a covered storage building and partially fenced yard. While the property requires vision and TLC, its potential for a significant return on investment is unmistakable. Prime Location: Located in Fayetteville, a growing area with downtown amenities. Generous Lot Size: The half-acre lot provides opportunities for expansion and development. Fixer-Upper Potential: The property is a blank canvas, allowing for renovations that can significantly increase its market value. Covered Shed: Ideal for storage or conversion into a workshop, adding value to the property. Partial Fencing: Provides a foundation for privacy and security, appealing to potential future tenants or buyers.

25. 2023-12-14
    status Pending 781-char remark

    Show marketing remark (781 chars)

    Excellent Investment Opportunity!! 3-bedroom, 1-bathroom home situated on a spacious half-acre lot, with a covered storage building and partially fenced yard. While the property requires vision and TLC, its potential for a significant return on investment is unmistakable. Prime Location: Located in Fayetteville, a growing area with downtown amenities. Generous Lot Size: The half-acre lot provides opportunities for expansion and development. Fixer-Upper Potential: The property is a blank canvas, allowing for renovations that can significantly increase its market value. Covered Shed: Ideal for storage or conversion into a workshop, adding value to the property. Partial Fencing: Provides a foundation for privacy and security, appealing to potential future tenants or buyers.

26. 2023-11-30
    price $52,375 781-char remark

    Show marketing remark (781 chars)

    Excellent Investment Opportunity!! 3-bedroom, 1-bathroom home situated on a spacious half-acre lot, with a covered storage building and partially fenced yard. While the property requires vision and TLC, its potential for a significant return on investment is unmistakable. Prime Location: Located in Fayetteville, a growing area with downtown amenities. Generous Lot Size: The half-acre lot provides opportunities for expansion and development. Fixer-Upper Potential: The property is a blank canvas, allowing for renovations that can significantly increase its market value. Covered Shed: Ideal for storage or conversion into a workshop, adding value to the property. Partial Fencing: Provides a foundation for privacy and security, appealing to potential future tenants or buyers.

27. 2023-11-13
    listed $57,375 Active 781-char remark

    Show marketing remark (781 chars)

    Excellent Investment Opportunity!! 3-bedroom, 1-bathroom home situated on a spacious half-acre lot, with a covered storage building and partially fenced yard. While the property requires vision and TLC, its potential for a significant return on investment is unmistakable. Prime Location: Located in Fayetteville, a growing area with downtown amenities. Generous Lot Size: The half-acre lot provides opportunities for expansion and development. Fixer-Upper Potential: The property is a blank canvas, allowing for renovations that can significantly increase its market value. Covered Shed: Ideal for storage or conversion into a workshop, adding value to the property. Partial Fencing: Provides a foundation for privacy and security, appealing to potential future tenants or buyers.

28. 2008-12-05
    soldstatus $47,000
29. 2005-12-12
    soldstatus $20,000
30. 1986-07-14
    soldstatus $8,500

ⓘ 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: $1,002 · $83/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$105/yr (+$9/mo · 10.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,338
• − Mortgage interest: −$7,562
• − Property taxes: −$1,002
• − Insurance: −$675
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − Depreciation: −$3,927
• Taxable income: $3,077
• Est. tax owed @ 24.0%: −$739
• After-tax cash flow: $4,366/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

+1488.2% since first listed

15 events — show timeline

• 2026-05-27 Listed $135,000 LPRMLS
• 2026-05-22 Rental Removed $1,200 TMLS
• 2026-04-02 Listed for Rent $1,200 TMLS
• 2026-04-02 Rental Removed $1,200 LPRMLS
• 2026-04-01 Listed for Rent $1,200 LPRMLS
• 2024-08-11 Rental Removed $1,400 APPFOLIO
• 2024-07-19 Price Changed $1,400 APPFOLIO
• 2024-05-28 Listed for Rent $1,500 APPFOLIO
• 2024-01-04 Sold (MLS) $43,500 LPRMLS
• 2023-12-14 Pending — LPRMLS
• 2023-11-30 Price Changed $52,375 LPRMLS
• 2023-11-13 Listed $57,375 LPRMLS
• 2008-12-05 Sold (Public Records) $47,000 Public Records
• 2005-12-12 Sold (Public Records) $20,000 Public Records
• 1986-07-14 Sold (Public Records) $8,500 Public Records

Property tax history

+3.6%/yr

Latest (2024): $1,002 · +8.0% YoY. Source: county tax records.