705 Winding Rdg · Spout Springs, NC 27332

$184,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 4 Days on market

Built 1995 0.35 ac lot Est $194k · at est.

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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 +21.0/30.0
• ARV discount +9.6/15.0
• DSCR +6.7/10.0
• 1% rule +4.2/10.0
• Rent growth +3.7/5.0
• Schools +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super cute 3 bed 2 bath home located in Carolina Hills. Featuring fresh paint and new vinyl flooring throughout the entire home. The primary suite is equipped with a walk-in closet, dual vanities, a garden tub, and a separate shower. Formal dining room, great room w/ a fireplace, and a spacious living room. Brand new HVAC and refrigerator soon to be installed! Schedule your showing before it's too late. Your new home awaits you!!

Key facts

• 0.35 acre lot
• 2 parking spots
• Built 1995

Property features AI

Finance

• Other: Lot is approximately 0.35 acre; Road frontage: State road (public maintained); Zoning: RA-20R; Not waterfront
• HOA & community: No homeowners association; No community amenities listed; Not a senior community

Exterior

• Parking: Driveway with 2 open parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured double-wide home; One level; Main-level entry; No one above or below
• Construction: Vinyl siding; Shingle roof; Built as a manufactured house
• Exterior features: Deck; Grassed yard; Fencing: Other

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Luxury vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric) with fireplace(s); Central air (electric)
• Interior features: Ceiling fan(s)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (7.7% below list).
• Recommended offer: $171k (7.7% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 4.1% in Spout Springs — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Harnett County Schools (rural): math 31% / reading 39% proficiency, ranked #130 of 178 in NC (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Overhills High (math 52% / reading 63%, grade C, #245 of 535 statewide, top 46%, 1,971 students, 47% FRL) — zoned schools at 47% FRL track the district average.
• Zoned-school proficiency averages 58% at this address vs 35% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Harnett County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.9%/yr); 458 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).

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.
• Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $140k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% 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 $170,599 (7.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.92% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $193,752
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
67 Wood Croft	0.04mi	3/2.0	1,404 (0%)	6mo	$197,000	$140	93
143 Brent Wood	0.31mi	3/2.0	1,516 (+8%)	14mo	$174,000	$115	60
38 Bone Oak	0.62mi	3/2.0	1,302 (-7%)	2mo	$197,000	$151	57
321 Winding Rdg	0.43mi	3/2.0	1,198 (-15%)	1mo	$203,000	$169	55
47 Hunter Field Fld	0.67mi	3/2.0	1,512 (+8%)	7mo	$212,500	$141	50
57 Winding Ridge Rdg	0.71mi	4/2.0 (+1)	1,512 (+8%)	11mo	$190,000	$126	40
265 Winding Rdg	0.48mi	3/2.0	1,195 (-15%)	16mo	$155,000	$130	40
147 Foxwood	0.66mi	3/2.0	1,296 (-8%)	21mo	$179,000	$138	39
16 Pine Haven Dr	0.65mi	3/2.0	1,516 (+8%)	21mo	$204,500	$135	39
101 Hunter Fld	0.71mi	4/2.0 (+1)	1,534 (+9%)	11mo	$219,900	$143	37
163 Fox Wood	0.66mi	4/2.0 (+1)	1,529 (+9%)	22mo	$203,000	$133	31

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-10,105
• Equity at exit: $27,569

10-year hold

• IRR: 6.3%
• Equity multiple: 1.51×
• Total profit: $26,243
• Equity at exit: $15,987

Cash invested: $51,772 (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 27332

• Home prices YoY: -17.8%
• Rents YoY: 4.9%
• Active inventory: 458
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,706 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$39 /mo · $470/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $262

Break-even live

Break-even rent $1,374

Max offer price $184,900

Occupancy floor 80%

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Castle Wood Sanford, NC	3.0	2.0	1250	$1,399	$1.12	23d	1	0.24mi
159 Pine Haven Dr Sanford, NC	2.0	2.0	1200	$1,350	$1.12	23d	1	0.53mi
478 Washington Ln Cameron, NC	3.0	2.0	1120	$1,250	$1.12	23d	1	1.13mi
424 Washington Ln Cameron, NC	4.0	2.0	1568	$1,500	$0.96	13d	1	1.19mi

Listing history 4 events

1. 2026-06-07
   statusdays on market $184,900 Pending 4 DOM
2. 2026-06-05
   days on market $184,900 Active 2 DOM
3. 2026-06-03
   remarks 699-char remark
4. 2026-06-03
   listed $184,900 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: $470 · $39/mo
• Projected year-2 tax: $1,516 · $126/mo
• Expected delta: +$1,046/yr (+$87/mo · 222.6%)

ⓘ 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 6/10 Major 64% 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: $20,472
• − Mortgage interest: −$10,357
• − Property taxes: −$470
• − Insurance: −$924
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$5,379
• Taxable income: $66
• Est. tax owed @ 24.0%: −$16
• After-tax cash flow: $3,127/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: Harnett County Schools
• NCES district ID: 3702010
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 39% ▼ -1.00%
• Median HH income: $45,400
• Composite: 29.88/100
• National rank: #6397
• State rank: #130 of 178 in NC

Livability — Spout Springs

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Spout Springs, NC
• County: Lee County · 76,725 people
• Metro: Sanford, NC
• Population (ZIP): 36,947
• Household income: $78,447
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 632.0

Population outlook (Harnett County) Hauer SSP2

• Today (2025): 153,758 people
• By 2030: 166,581 · +8.3%
• By 2040: 192,741 · +25.4%
• By 2050: 218,332 · +42.0%
• By 2075: 275,422 · +79.1%
• By 2100: 313,511 · +103.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Hispanic / Latino 19% Black 16% Two or more races 11% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 4% Cuban 2%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 15%

Political lean MEDSL · Harnett

• 2024 margin: Strong R (+25.1) · D 36.9% · R 62.0% · Other 1.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -16.7pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+22.4 2016: R+24.1 2012: R+19.4 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.61%
• Current HPI: 252.2719
• Rent YoY: ▲ 4.87%
• Metro: Sanford, 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

+15.6% since first listed

6 events — show timeline

• 2026-06-02 Listed $184,900 TMLS
• 2022-12-22 Sold (Public Records) $140,000 Public Records
• 2022-12-22 Sold (MLS) $140,000 LPRMLS
• 2022-11-02 Delisted — LPRMLS
• 2022-10-27 Price Changed $160,000 TMLS
• 2022-10-17 Listed $160,000 LPRMLS

Property tax history

+0.5%/yr

Latest (2025): $470 · +0.0% YoY. Source: county tax records.