1730 Easterling Dr · Spring Lake, NC 28390

$169,000

4 bd · 3.0 ba · 1,960 sqft · SingleFamily public records · 1 Days on market

Built 1967 7.12 ac lot Est $245k · 31% under

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Why this score? — see what drove the C+ 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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.4/10.0
• 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

Discover a rare opportunity to create something truly special on 7.12 acres in Spring Lake. Tucked away with room to spread out, this property offers the kind of land that is becoming increasingly difficult to find in Cumberland County. The existing home, originally built in 1967 and offering approximately 1,960 square feet, has been completely gutted and is ready for a full renovation, redesign, or potential redevelopment project, making it an ideal opportunity for investors, builders, flippers, or buyers looking to create their dream homestead from the ground up. With over seven acres of privacy and flexibility, there's ample space for recreational use, additional structures, gardens, equ

Key facts

• 7.12 acres
• Completely gutted
• Full renovation

Tags

• 7.12 ACRES
• LAND IN CUMBERLAND COUNTY
• COMPLETELY GUTTED
• FULL RENOVATION
• OVER SEVEN ACRES OF PRIVACY
• ADDITIONAL STRUCTURES

Property features AI

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces
• Utilities: Water: Other; Sewer: Other
• Home design: Single-family residence; Residential property; Zoned RR (Rural Residential)
• Construction: Brick exterior
• Exterior features: Front covered porch; Rear covered porch

Interior

• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating
• Interior features: Hardwood flooring; One masonry fireplace; No basement

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 8.7% vs local median 4.5% 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: 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 81% FRL vs 55% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 348 active listings in the ZIP; 3 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 33% 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.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 69% 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 $169,000

Questions for the listing agent

1. Built in 1967 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.04% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.77%
• DSCR: 1.39
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $245,000
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1602 Dolphin Dr	0.26mi	4/3.0	1,989 (+2%)	15mo	$175,000	$88	73
1705 Kenwood Ave	0.53mi	4/1.5	1,861 (-5%)	16mo	$140,300	$75	48
825 Tori (lot 41) Dr	0.72mi	4/2.5	1,836 (-6%)	13mo	$302,500	$165	43
1616 Dolphin St	0.35mi	3/2.5 (-1)	1,691 (-14%)	17mo	$211,000	$125	40
822 Tori (lot 32) Dr	0.75mi	4/2.5	2,179 (+11%)	13mo	$312,950	$144	33
1806 Kenwood Ave	0.61mi	4/2.0	1,703 (-13%)	18mo	$199,999	$117	30

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-2,743
• Equity at exit: $25,198

10-year hold

• IRR: 9.6%
• Equity multiple: 1.78×
• Total profit: $37,050
• Equity at exit: $14,612

Cash invested: $47,320 (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: 348
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,754 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $346

Break-even live

Break-even rent $1,316

Max offer price $169,000

Occupancy floor 75%

Sensitivity live

Price	-10% $441	-5% $394	+0% $346	+5% $298	+10% $250
Rent	-10% $207	-5% $277	+0% $346	+5% $415	+10% $484
Rate	-1.0pp $431	-0.5pp $389	base $346	+0.5pp $302	+1.0pp $257

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
157 Maranatha Cir Spring Lake, NC	3.0	2.0	1250	$1,425	$1.14	24d	1	1.02mi
1233 Wilderness Dr Spring Lake, NC	3.0	2.0	1852	$1,700	$0.92	24d	1	1.07mi
605 Village Lake Ct Spring Lake, NC	1.0–3.0	1.0–2.0	1133	$1,572	$1.39	14d	30	1.16mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $169,000 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: $998 · $83/mo
• Projected year-2 tax: $1,386 · $115/mo
• Expected delta: +$388/yr (+$32/mo · 38.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 73% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $21,048
• − Mortgage interest: −$9,467
• − Property taxes: −$998
• − Insurance: −$845
• − Repairs & maintenance: −$1,684
• − Management: −$1,684
• − Depreciation: −$4,916
• Taxable income: $1,454
• Est. tax owed @ 24.0%: −$349
• After-tax cash flow: $3,801/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

• 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

1 event — show timeline

• 2026-06-17 Listed $169,000 LPRMLS

Property tax history

-3.1%/yr

Latest (2025): $998 · +6.6% YoY. Source: county tax records.