6509 Causeway St · Hope Mills, NC 28348

$175,000

3 bd · 3.0 ba · 1,216 sqft · Manufactured public records · 55 Days on market

Built 2006 1.98 ac lot

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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 +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Rent growth +3.6/5.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this secluded gem situated on almost 2 acres minutes from Fayetteville and Fort Bragg and located in the highly desirable Gray's Creek School District. The home was built in 2006 and offers 3 bedrooms and 2 full baths. The covered front porch invites you into an open concept living space that is perfect for entertaining. Outback you will find an above-ground pool just off the back deck. The owners are in the process of removing the pool from the property. The backyard is also fenced and is perfect for animal lovers! Owners had also begun work on a separate fenced area with plans for horses! The seller is offering a $7,000 credit to wrap up a few small projects in the home that they were not able to complete. Schedule your showing today! This one will not last long.

Key facts

• Open floor plan
• Large covered porch
• Inviting front porch

Tags

• OPEN FLOOR PLAN
• LARGE ISLAND
• INVITING FRONT PORCH
• LARGE COVERED PORCH
• HUGE BACKYARD
• NEARLY 2 ACRES

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Water from spring and well; Septic tank and holding tank for sewer
• Home design: Manufactured home (residential property); Located in CEDAR OAK subdivision; Zoned A1 - Agricultural District
• Construction: Vinyl siding
• Exterior features: Front porch; Rear covered porch; Porch; Partial fencing; Shed(s) on the property

Interior

• Kitchen: Refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Washer and dryer included; Refrigerator included; No fireplace; Crawl space foundation
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/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 $174k (0.5% below list).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.8% in Hope Mills — 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 67/100 on livability (#234 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D-, 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: Gray'S Creek Middle (math 33% / reading 48%, grade F, #215 of 475 statewide, top 46%, 1,126 students, 50% FRL); Gray'S Creek High (math 61% / reading 58%, grade C+, #216 of 535 statewide, top 43%, 1,395 students, 44% FRL).
• Zoned-school proficiency averages 50% at this address vs 36% district-wide (+14 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: Rents rising fast (+4.3%/yr); 318 active listings in the ZIP; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).
• This rent runs 32% of the median local income ($66k/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.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $175k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 D 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: 1.00% ✗
• Cap rate: 8.54%
• Cash-on-cash: 8.03%
• DSCR: 1.36
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-5,267
• Equity at exit: $26,093

10-year hold

• IRR: 8.1%
• Equity multiple: 1.64×
• Total profit: $31,588
• Equity at exit: $15,131

Cash invested: $49,000 (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 28348

• Home prices YoY: -14.0%
• Rents YoY: 4.3%
• Active inventory: 318
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,742 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$57 /mo · $687/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $328

Break-even live

Break-even rent $1,326

Max offer price $175,000

Occupancy floor 76%

Sensitivity live

Price	-10% $427	-5% $378	+0% $328	+5% $278	+10% $229
Rent	-10% $190	-5% $259	+0% $328	+5% $397	+10% $466
Rate	-1.0pp $416	-0.5pp $373	base $328	+0.5pp $283	+1.0pp $237

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $175,000 Active 55 DOM
2. 2026-06-18
   days on market $175,000 Active 52 DOM
3. 2026-06-17
   days on market $175,000 Active 51 DOM
4. 2026-06-16
   days on market $175,000 Active 50 DOM
5. 2026-06-15
   days on market $175,000 Active 49 DOM
6. 2026-06-14
   days on market $175,000 Active 47 DOM
7. 2026-06-13
   days on market $175,000 Active 46 DOM
8. 2026-06-10
   days on market $175,000 Active 44 DOM
9. 2026-06-09
   days on market $175,000 Active 43 DOM
10. 2026-06-08
    days on market $175,000 Active 42 DOM
11. 2026-06-07
    days on market $175,000 Active 41 DOM
12. 2026-06-03
    days on market $175,000 Active 37 DOM
13. 2026-06-02
    days on market $175,000 Active 36 DOM
14. 2026-06-01
    days on market $175,000 Active 35 DOM
15. 2026-05-31
    price $175,000 Active 34 DOM
16. 2026-05-31
    days on market $190,000 Active 34 DOM
17. 2026-05-30
    days on market $190,000 Active 33 DOM
18. 2026-04-28
    listed $190,000 Active
19. 2026-04-28
    historical $190,000
20. 2022-06-03
    soldstatus $90,000 Closed 791-char remark

    Show marketing remark (791 chars)

    Welcome home to this secluded gem situated on almost 2 acres minutes from Fayetteville and Fort Bragg and located in the highly desirable Gray's Creek School District. The home was built in 2006 and offers 3 bedrooms and 2 full baths. The covered front porch invites you into an open concept living space that is perfect for entertaining. Outback you will find an above-ground pool just off the back deck. The owners are in the process of removing the pool from the property. The backyard is also fenced and is perfect for animal lovers! Owners had also begun work on a separate fenced area with plans for horses! The seller is offering a $7,000 credit to wrap up a few small projects in the home that they were not able to complete. Schedule your showing today! This one will not last long.

21. 2022-06-03
    soldstatus $90,000 791-char remark

    Show marketing remark (791 chars)

    Welcome home to this secluded gem situated on almost 2 acres minutes from Fayetteville and Fort Bragg and located in the highly desirable Gray's Creek School District. The home was built in 2006 and offers 3 bedrooms and 2 full baths. The covered front porch invites you into an open concept living space that is perfect for entertaining. Outback you will find an above-ground pool just off the back deck. The owners are in the process of removing the pool from the property. The backyard is also fenced and is perfect for animal lovers! Owners had also begun work on a separate fenced area with plans for horses! The seller is offering a $7,000 credit to wrap up a few small projects in the home that they were not able to complete. Schedule your showing today! This one will not last long.

22. 2022-06-03
    soldstatus $90,000

    Show marketing remark (791 chars)

    Welcome home to this secluded gem situated on almost 2 acres minutes from Fayetteville and Fort Bragg and located in the highly desirable Gray's Creek School District. The home was built in 2006 and offers 3 bedrooms and 2 full baths. The covered front porch invites you into an open concept living space that is perfect for entertaining. Outback you will find an above-ground pool just off the back deck. The owners are in the process of removing the pool from the property. The backyard is also fenced and is perfect for animal lovers! Owners had also begun work on a separate fenced area with plans for horses! The seller is offering a $7,000 credit to wrap up a few small projects in the home that they were not able to complete. Schedule your showing today! This one will not last long.

23. 2022-04-30
    listed $119,900 791-char remark

    Show marketing remark (791 chars)

    Welcome home to this secluded gem situated on almost 2 acres minutes from Fayetteville and Fort Bragg and located in the highly desirable Gray's Creek School District. The home was built in 2006 and offers 3 bedrooms and 2 full baths. The covered front porch invites you into an open concept living space that is perfect for entertaining. Outback you will find an above-ground pool just off the back deck. The owners are in the process of removing the pool from the property. The backyard is also fenced and is perfect for animal lovers! Owners had also begun work on a separate fenced area with plans for horses! The seller is offering a $7,000 credit to wrap up a few small projects in the home that they were not able to complete. Schedule your showing today! This one will not last long.

24. 2022-04-30
    listed $119,900 791-char remark

    Show marketing remark (791 chars)

    Welcome home to this secluded gem situated on almost 2 acres minutes from Fayetteville and Fort Bragg and located in the highly desirable Gray's Creek School District. The home was built in 2006 and offers 3 bedrooms and 2 full baths. The covered front porch invites you into an open concept living space that is perfect for entertaining. Outback you will find an above-ground pool just off the back deck. The owners are in the process of removing the pool from the property. The backyard is also fenced and is perfect for animal lovers! Owners had also begun work on a separate fenced area with plans for horses! The seller is offering a $7,000 credit to wrap up a few small projects in the home that they were not able to complete. Schedule your showing today! This one will not last long.

25. 2020-09-11
    soldstatus $68,000
26. 2020-09-10
    soldstatus $67,900
27. 2020-03-20
    listed $69,900
28. 2016-09-30
    soldstatus $59,900
29. 2016-04-26
    listed $59,900
30. 1996-05-01
    soldstatus $16,500
31. 1994-12-16
    soldstatus $19,000

ⓘ 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: $687 · $57/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$748/yr (+$62/mo · 109.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $20,900
• − Mortgage interest: −$9,803
• − Property taxes: −$687
• − Insurance: −$875
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − Depreciation: −$5,091
• Taxable income: $1,100
• Est. tax owed @ 24.0%: −$264
• After-tax cash flow: $3,672/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 — Hope Mills

• Score: 67/100
• State rank: #234
• US rank: #10761

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cumberland County · 265,314 people
• City population: 39,196
• Metro: Fayetteville, NC
• Population (ZIP): 39,196
• Household income: $66,129
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 746.0

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 0.67)
• Race & ethnicity: White 49% Black 27% Hispanic / Latino 13% Two or more races 11% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5%
• Common ancestry: Romanian 2% Lithuanian 1% Serbian 1%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 90% English-only · Spanish 8% Other Indo-European 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: ▼ -37.14%
• Current HPI: 228.3122
• Rent YoY: ▲ 4.28%
• 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

+900.0% since first listed

14 events — show timeline

• 2026-04-28 Listed $190,000 LPRMLS
• 2026-04-28 Coming Soon $190,000 LPRMLS
• 2022-06-03 Sold (Public Records) $90,000 Public Records
• 2022-06-03 Sold (MLS) $90,000 LPRMLS
• 2022-06-03 Sold (MLS) $90,000 TMLS
• 2022-04-30 Listed $119,900 LPRMLS
• 2022-04-30 Listed $119,900 TMLS
• 2020-09-11 Sold (Public Records) $68,000 Public Records
• 2020-09-10 Sold (MLS) $67,900 LPRMLS
• 2020-03-20 Listed $69,900 LPRMLS
• 2016-09-30 Sold (MLS) $59,900 LPRMLS
• 2016-04-26 Listed $59,900 LPRMLS
• 1996-05-01 Sold (Public Records) $16,500 Public Records
• 1994-12-16 Sold (Public Records) $19,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $687 · +5.7% YoY. Source: county tax records.