7441 3rd St · Wade, NC 28395

$58,900

3 bd · 1.0 ba · 596 sqft · SingleFamily public records · 7 Days on market

Built 1932

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 7441 3rd Street, Wade. Built in 1932, this charming 2 bedroom, 1 bathroom home offers 596 square feet of living space and features low-maintenance vinyl siding, while sitting on a large lot. Inside, you'll find a comfortable floor plan with nice size living room and eat-in kitchen, with an ample amount of cabinet space. This property is a hidden gem with tremendous potential, making it an excellent opportunity for investors, first-time buyers, or those looking to downsize. Don't miss your chance to explore all this home has to offer. Schedule your showing today and discover the possibilities for yourself! NOTE: Please be aware this sale is subject to NCGS Chapter 1 Article 29A an

Key facts

• Large corner lot
• Built 1932
• Listed 7 days

Tags

• LOW MAINTENANCE VINYL SIDING
• LARGE CORNER LOT
• AMPLE AMOUNT OF CABINET SPACE

Property features AI

Finance

• Other: Listing broker: COLDWELL BANKER ADVANTAGE - YADKIN ROAD
• Financial info: No financial details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Water: Other; Sewer: Holding tank or septic tank
• Home design: Single-family residential property
• Construction: Vinyl siding
• Exterior features: Subdivision: WADE

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 4 total rooms (includes bedrooms and other rooms)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Forced air
• Interior features: Eat-in kitchen; Crawl space basement
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $884 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Cap rate 24.3% vs local median 3.8% in Wade — 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 55/100 on livability (#650 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D, crime F, amenities 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: Mac Williams Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 1,151 students, 58% FRL); Cape Fear High (math 75% / reading 47%, grade C+, #202 of 535 statewide, top 39%, 1,529 students, 50% FRL) — zoned schools at 54% FRL track the district average.
• Zoned-school proficiency averages 53% at this address vs 36% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Cumberland County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 47 active listings in the ZIP; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($407 loan paydown + $6k appreciation (9.9% local appreciation)).
• At projected returns (9.9% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% 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 $58,900

Questions for the listing agent

1. Built in 1932 — 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. 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?
4. 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?
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: 2.70% ✓
• Cap rate: 24.30%
• Cash-on-cash: 64.32%
• DSCR: 3.86
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 75.9%
• Equity multiple: 6.34×
• Total profit: $88,018
• Equity at exit: $52,671

10-year hold

• IRR: 69.9%
• Equity multiple: 14.03×
• Total profit: $214,828
• Equity at exit: $113,175

Cash invested: $16,492 (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 28395

• Home prices YoY: 3.0%
• Active inventory: 47
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,590 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$39 /mo · $467/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $884

Break-even live

Break-even rent $471

Max offer price $58,900

Occupancy floor 39%

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: $14,725
• Closing costs: $1,767
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $58,900 Active 7 DOM
2. 2026-06-17
   days on market $58,900 Active 6 DOM
3. 2026-06-16
   days on market $58,900 Active 5 DOM
4. 2026-06-15
   days on market $58,900 Active 4 DOM
5. 2026-06-14
   days on market $58,900 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $58,900 Active 1 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: $467 · $39/mo
• Projected year-2 tax: $483 · $40/mo
• Expected delta: +$16/yr (+$1/mo · 3.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $19,083
• − Mortgage interest: −$3,299
• − Property taxes: −$467
• − Insurance: −$294
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − Depreciation: −$1,713
• Taxable income: $10,256
• Est. tax owed @ 24.0%: −$2,461
• After-tax cash flow: $8,147/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 — Wade

• Score: 55/100
• State rank: #650
• US rank: #23543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wade, NC
• Population (ZIP): 2,524

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 White (76%)
• Race & ethnicity: White 76% Black 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 9% Iranian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▲ 9.91%
• Current HPI: 336.2104
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-11 Listed $58,900 LPRMLS

Property tax history

+1.3%/yr

Latest (2025): $467 · +3.8% YoY. Source: county tax records.