2305 Clinton Rd

Fayetteville, NC 28312

$749,500C-

None bd · None ba · — sqft · Built — · MultiFamily · Active · 318 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $41,022/mo
• Mortgage (P&I): −$3,930
• Tax + insurance: −$1,249
• HOA: −$0
• Vac / Maint / Mgmt: −$8,615
• Net cashflow: $27,228/mo
• Annual: $326,733/yr
• Cap rate: 49.89%
• Cash-on-cash: 155.69%
• DSCR: 7.93
• 1% rule: 5.47%
• Cash to close: $209,860

Investor read

• This is a multifamily listed at $750k.
• At list price, monthly cash flow is $27k ($327k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($41k rent vs $750k).
• It's been on market 318 days — a 12% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $660k (12.0% below list) — sets the bar for market timing.
• In year one you build about $80k of equity ($5k loan paydown + $75k appreciation (10.0% local appreciation)).
• 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: schools C-, 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.
• Market conditions: 222 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $210k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$129k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 49.9% 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.

Questions for listing agent

• It's been on market 318 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.