110 Flynn Mcpherson Rd · Spring Lake, NC 28326

$199,900

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 194 Days on market

Built 1988 1.00 ac lot Est $261k · 23% under ↓ 7% since listing

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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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +4.9/10.0
• Rent growth +3.2/5.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This renovated home is situated on a one acre lot in a rural, country setting! 3 bedrooms and 2 baths awaits the family looking for peace and serenity. Room to grow here with the unrestricted land. Bring your animals too! Convenient to Fort Bragg and Southern Pines too. Very close to the Moore County line.

Key facts

• One acre lot
• Unrestricted land
• 1 acre lot

Tags

• ONE ACRE LOT
• RURAL COUNTRY SETTING
• UNRESTRICTED LAND
• CONVENIENT TO FORT BRAGG

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Septic tank and holding tank
• Home design: Manufactured home; Residential property; Not in a subdivision
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Cleared, level lot; Public maintained road

Interior

• Kitchen: Range; Free-standing range; Dishwasher
• Bedrooms: Total rooms: 5
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Forced air; Heat pump; Ceiling fan cooling
• Interior features: Ceiling fans; Eat-in kitchen; Laminate countertops; Factory-built fireplace (1)
• Laundry & utility: Laundry in unit on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/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 $199k (0.6% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: schools D, crime F, amenities F.
• 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.
• Market conditions: Rents rising (+3.0%/yr); 244 active listings in the ZIP; solid renter incomes; 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).
• This rent runs 32% of the median local income ($75k/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 $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

• It's been on market 194 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% 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 $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 8.65%
• Cash-on-cash: 8.41%
• DSCR: 1.37
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $260,640
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3270 Cameron Hill Rd	0.47mi	3/2.0	1,516 (+5%)	17mo	$274,900	$181	55

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-7,597
• Equity at exit: $29,806

10-year hold

• IRR: 6.0%
• Equity multiple: 1.44×
• Total profit: $24,768
• Equity at exit: $17,284

Cash invested: $55,972 (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 28326

• Home prices YoY: -9.9%
• Rents YoY: 3.0%
• Active inventory: 244
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,987 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$46 /mo · $551/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $392

Break-even live

Break-even rent $1,491

Max offer price $199,900

Occupancy floor 75%

Sensitivity live

Price	-10% $506	-5% $449	+0% $392	+5% $336	+10% $279
Rent	-10% $235	-5% $314	+0% $392	+5% $471	+10% $549
Rate	-1.0pp $493	-0.5pp $443	base $392	+0.5pp $341	+1.0pp $288

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $199,900 Active 194 DOM
2. 2026-06-17
   days on market $199,900 Active 193 DOM
3. 2026-06-16
   days on market $199,900 Active 192 DOM
4. 2026-06-15
   days on market $199,900 Active 191 DOM
5. 2026-06-14
   days on market $199,900 Active 189 DOM
6. 2026-06-10
   days on market $199,900 Active 186 DOM
7. 2026-06-09
   days on market $199,900 Active 185 DOM
8. 2026-06-08
   days on market $199,900 Active 184 DOM
9. 2026-06-07
   days on market $199,900 Active 183 DOM
10. 2026-06-05
    days on market $199,900 Active 180 DOM
11. 2026-06-03
    days on market $199,900 Active 179 DOM
12. 2026-06-02
    days on market $199,900 Active 178 DOM
13. 2026-06-01
    days on market $199,900 Active 177 DOM
14. 2026-05-31
    days on market $199,900 Active 176 DOM
15. 2026-05-30
    days on market $199,900 Active 175 DOM
16. 2026-03-09
    price $199,900
17. 2025-12-06
    listed $215,000 Active

ⓘ 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: $551 · $46/mo
• Projected year-2 tax: $1,639 · $137/mo
• Expected delta: +$1,088/yr (+$91/mo · 197.3%)

ⓘ 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 66% 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: $23,847
• − Mortgage interest: −$11,198
• − Property taxes: −$551
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,908
• − Management: −$1,908
• − Depreciation: −$5,815
• Taxable income: $1,468
• Est. tax owed @ 24.0%: −$352
• After-tax cash flow: $4,356/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 — 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): 26,068
• Household income: $75,431
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 456.0

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 0.64)
• Race & ethnicity: White 52% Black 27% Hispanic / Latino 12% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6%
• Common ancestry: Slovak 3% Lithuanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -24.96%
• Current HPI: 226.8295
• Rent YoY: ▲ 2.95%
• 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

-7.0% since first listed

2 events — show timeline

• 2026-03-09 Price Changed $199,900 LPRMLS
• 2025-12-06 Listed $215,000 LPRMLS

Property tax history

+2.1%/yr

Latest (2025): $551 · +1.2% YoY. Source: county tax records.