4056 Lodge Dr · Wade, NC 28395

$189,999

3 bd · 2.0 ba · 1,460 sqft · Manufactured · 76 Days on market

Built 2025 0.32 ac lot ↓ 5% 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 +19.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Schools +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Brand-new manufactured home on a permanent brick foundation. This is not a typical manufactured home and features a large front porch. The interior offers vinyl flooring throughout, three bedrooms, and two full bathrooms. The kitchen is open to the living area and provides ample cabinet storage along with a large walk-in pantry. Fantastic location with easy access to I-295 outer loop, Fort Bragg and Methodist University.

Key facts

• 0.32 acre lot
• Built 2025
• Listed 76 days

Property features AI

Finance

• Other: Lot is cleared and level; Zoned R6A - Residential District; Lot approximately 0.32 acres

Exterior

• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: One-story manufactured home; New construction; Residential property
• Construction: Brick veneer and vinyl siding exterior
• Exterior features: Covered porch

Interior

• Kitchen: Eat-in kitchen with kitchen island; Refrigerator, Dishwasher, Range
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Hardwood; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric cooling
• Interior features: Eat-in kitchen; Kitchen island; Skylights; Insulated windows; Refrigerator; Dishwasher; Range
• Laundry & utility: Crawl space basement (utility access)

🏗️ New construction. The $189,999 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $185,420.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/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 $187k (1.6% below list).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.8% in Wade — 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 55/100 on livability (#650 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D, crime F, amenities 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: Mac Williams Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 1,151 students, 58% FRL); Cape Fear High (math 75% / reading 47%, grade C+, #202 of 535 statewide, top 39%, 1,529 students, 50% FRL) — zoned schools at 54% FRL track the district average.
• Zoned-school proficiency averages 53% at this address vs 36% district-wide (+16 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: 47 active listings in the ZIP; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (9.9% local appreciation)).
• At projected returns (9.9% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Recommended offer $178,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.01% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.52%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $185,420
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4057 Lodge Dr	0.02mi	3/2.0	1,577 (+8%)	3mo	$185,000	$117	83
4055 Lodge Dr	0.02mi	3/2.0	1,577 (+8%)	3mo	$185,000	$117	83
4051 Lodge Dr	0.04mi	3/2.0	1,577 (+8%)	3mo	$185,000	$117	82
3911 Mckethan St	0.31mi	4/2.0 (+1)	1,498 (+3%)	4mo	$192,999	$129	73
3912 Mckethan (lot 19) St	0.31mi	4/2.0 (+1)	1,456 (-0%)	14mo	$185,000	$127	68
3916 Mckethan (lot 20) St	0.33mi	4/2.0 (+1)	1,456 (-0%)	13mo	$185,000	$127	68
3934 Mckethan (lot 5) St	0.42mi	4/2.0 (+1)	1,456 (-0%)	12mo	$185,000	$127	65
3942 Mckethan (lot 3) St	0.45mi	4/2.0 (+1)	1,456 (-0%)	12mo	$185,000	$127	64
3905 Mckethan St	0.28mi	4/2.0 (+1)	1,493 (+2%)	22mo	$187,000	$125	60
7572 Dunn Rd	0.72mi	3/2.0	1,450 (-1%)	7mo	$250,000	$172	60
3901 Mckethan St	0.27mi	3/2.0	1,264 (-13%)	23mo	$169,000	$134	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 3.16×
• Total profit: $112,308
• Equity at exit: $165,812

10-year hold

• IRR: 23.9%
• Equity multiple: 7.18×
• Total profit: $320,681
• Equity at exit: $356,279

Cash invested: $51,918 (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 28395

• Home prices YoY: 3.0%
• Active inventory: 47
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,869 medium
• Mortgage (P&I): −$972
• Tax est. 1.5%: −$232 /mo · $2,781/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $195

Break-even live

Break-even rent $1,622

Max offer price $185,420

Occupancy floor 85%

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: $46,355
• Closing costs: $5,563
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $189,999 Active 76 DOM
2. 2026-06-17
   days on market $189,999 Active 75 DOM
3. 2026-06-16
   days on market $189,999 Active 74 DOM
4. 2026-06-15
   days on market $189,999 Active 73 DOM
5. 2026-06-14
   days on market $189,999 Active 71 DOM
6. 2026-06-13
   days on market $189,999 Active 70 DOM
7. 2026-06-10
   days on market $189,999 Active 68 DOM
8. 2026-06-09
   days on market $189,999 Active 67 DOM
9. 2026-06-08
   days on market $189,999 Active 66 DOM
10. 2026-06-07
    days on market $189,999 Active 65 DOM
11. 2026-06-03
    days on market $189,999 Active 61 DOM
12. 2026-06-02
    days on market $189,999 Active 60 DOM
13. 2026-06-01
    days on market $189,999 Active 59 DOM
14. 2026-05-31
    days on market $189,999 Active 58 DOM
15. 2026-05-30
    pricedays on market $189,999 Active 57 DOM
16. 2026-04-27
    price $199,900
17. 2026-04-03
    status Active
18. 2026-01-29
    historical $210,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,434
• − Mortgage interest: −$10,386
• − Property taxes: −$2,781
• − Insurance: −$927
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$5,394
• Taxable loss: −$645
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $2,500/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 — Wade

• Score: 55/100
• State rank: #650
• US rank: #23543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wade, NC
• Population (ZIP): 2,524

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: Predominantly White (76%)
• Race & ethnicity: White 76% Black 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 9% Iranian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▲ 9.91%
• Current HPI: 336.2104
• Rent YoY: —
• Metro: —
• 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

-4.8% since first listed

3 events — show timeline

• 2026-04-27 Price Changed $199,900 LPRMLS
• 2026-04-03 Relisted — LPRMLS
• 2026-01-29 Coming Soon $210,000 LPRMLS