3600 Quarter Horse Run Ln · Hope Mills, NC 28371

$115,000

3 bd · 3.0 ba · 1,876 sqft · Manufactured public records · 81 Days on market

Built 1988 Poor condition 3.32 ac lot

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Why this score? — see what drove the B 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 +28.3/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Buy today: Profit for tomorrow! Hidden asset! Great secluded location, near the entrance to US 295 extension. This property is being sold as is and need work, but great upside for the investor or owner occupant. Features 3+ acre lot, over 1800 sq. ft. of living space and so much more. Don't miss out on this great opportunity!

Key facts

• 3.32-acre lot
• Zoned rr
• Existing well

Tags

• EXISTING WELL
• EXISTING SEPTIC SYSTEM
• ZONED RR
• QUARTER HORSE RUN SUBDIVISION
• 3.32-ACRE LOT
• RURAL SETTING

Property features AI

Exterior

• Parking: No garage
• Utilities: Spring and well water; Septic tank and holding tank sewer
• Home design: Manufactured home; Single-story
• Construction: Vinyl siding
• Exterior features: Level lot; Located on a cul-de-sac

Interior

• Kitchen: Eat-in kitchen
• Flooring: Carpet; Hardwood; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric air conditioning
• Interior features: Eat-in kitchen; Factory-built fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $115k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: Rockfish Elementary (math 32% / reading 45%, grade F, #750 of 1,410 statewide, top 54%, 696 students, 98% FRL); Hope Mills Middle (math 27% / reading 34%, grade F, #331 of 475 statewide, top 70%, 514 students, 99% FRL); South View High (math 60% / reading 43%, grade D+, #299 of 535 statewide, top 56%, 1,502 students, 66% FRL) — zoned schools average 88% FRL vs 55% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 44 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $115k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; major 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 $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.25% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.75%
• DSCR: 1.61
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.4%
• Equity multiple: 3.68×
• Total profit: $86,136
• Equity at exit: $103,601

10-year hold

• IRR: 29.7%
• Equity multiple: 8.30×
• Total profit: $235,189
• Equity at exit: $223,420

Cash invested: $32,200 (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 28371

• Home prices YoY: 5.0%
• Active inventory: 44
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,440 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$118 /mo · $1,415/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $369

Break-even live

Break-even rent $973

Max offer price $115,000

Occupancy floor 69%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5536 Gilcrest Sands Dr Hope Mills, NC	3.0	2.0	1421	$1,395	$0.98	23d	1	1.05mi
3766 Colonial Cv Hope Mills, NC	3.0	1.5	1475	$1,445	$0.98	14d	1	1.23mi
5660 Bauer St Hope Mills, NC	3.0	2.0	1492	$1,495	$1.00	23d	1	1.47mi

Listing history 24 events

1. 2026-06-18
   days on market $115,000 Active 81 DOM
2. 2026-06-17
   days on market $115,000 Active 80 DOM
3. 2026-06-16
   days on market $115,000 Active 79 DOM
4. 2026-06-15
   days on market $115,000 Active 78 DOM
5. 2026-06-14
   days on market $115,000 Active 76 DOM
6. 2026-06-13
   days on market $115,000 Active 75 DOM
7. 2026-06-10
   pricedays on market $115,000 Active 73 DOM
8. 2026-06-09
   days on market $135,000 Active 72 DOM
9. 2026-06-08
   days on market $135,000 Active 71 DOM
10. 2026-06-07
    days on market $135,000 Active 70 DOM
11. 2026-06-03
    days on market $135,000 Active 66 DOM
12. 2026-06-02
    days on market $135,000 Active 65 DOM
13. 2026-06-01
    days on market $135,000 Active 64 DOM
14. 2026-05-31
    days on market $135,000 Active 63 DOM
15. 2026-05-30
    days on market $135,000 Active 62 DOM
16. 2026-03-29
    listed $135,000 Active
17. 2026-02-25
    listed $135,000 Active
18. 2025-08-12
    soldstatus $70,000
19. 2025-08-11
    soldstatus $70,000 Closed 329-char remark

    Show marketing remark (329 chars)

    Buy today: Profit for tomorrow! Hidden asset! Great secluded location, near the entrance to US 295 extension. This property is being sold as is and need work, but great upside for the investor or owner occupant. Features 3+ acre lot, over 1800 sq. ft. of living space and so much more. Don't miss out on this great opportunity!

20. 2025-07-24
    status Pending 329-char remark

    Show marketing remark (329 chars)

    Buy today: Profit for tomorrow! Hidden asset! Great secluded location, near the entrance to US 295 extension. This property is being sold as is and need work, but great upside for the investor or owner occupant. Features 3+ acre lot, over 1800 sq. ft. of living space and so much more. Don't miss out on this great opportunity!

21. 2025-06-18
    price $84,900 329-char remark

    Show marketing remark (329 chars)

    Buy today: Profit for tomorrow! Hidden asset! Great secluded location, near the entrance to US 295 extension. This property is being sold as is and need work, but great upside for the investor or owner occupant. Features 3+ acre lot, over 1800 sq. ft. of living space and so much more. Don't miss out on this great opportunity!

22. 2025-05-01
    price $89,900 329-char remark

    Show marketing remark (329 chars)

    Buy today: Profit for tomorrow! Hidden asset! Great secluded location, near the entrance to US 295 extension. This property is being sold as is and need work, but great upside for the investor or owner occupant. Features 3+ acre lot, over 1800 sq. ft. of living space and so much more. Don't miss out on this great opportunity!

23. 2025-03-05
    listed $95,000 Active 329-char remark

    Show marketing remark (329 chars)

    Buy today: Profit for tomorrow! Hidden asset! Great secluded location, near the entrance to US 295 extension. This property is being sold as is and need work, but great upside for the investor or owner occupant. Features 3+ acre lot, over 1800 sq. ft. of living space and so much more. Don't miss out on this great opportunity!

24. 1996-04-19
    soldstatus $70,000

ⓘ 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: $1,415 · $118/mo
• Projected year-2 tax: $1,415 · $118/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $17,284
• − Mortgage interest: −$6,442
• − Property taxes: −$1,415
• − Insurance: −$575
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − Depreciation: −$3,345
• Taxable income: $2,741
• Est. tax owed @ 24.0%: −$658
• After-tax cash flow: $3,769/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including major work on the roof and exterior. Painting and landscaping can improve its curb appeal and rental value.

Repairs flagged

• Major roof — Significant damage visible
• Major exterior siding — Significant damage visible
• Major interior walls/paint — Chipped and worn
• Major windows — Damaged
• Major HVAC/mechanicals — No visible signs, but likely outdated

Value-add opportunities

• Resale Painting and minor repairs — Fresh paint and repairs can significantly improve curb appeal
• Rental Landscaping — Well-maintained landscaping can attract renters
• Both HVAC upgrade — Upgrading HVAC can improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage visible	Major	$15,000–50,000
exterior siding · Significant damage visible	Major	$15,000–50,000
interior walls/paint · Chipped and worn	Major	$15,000–50,000
windows · Damaged	Major	$15,000–50,000
HVAC/mechanicals · No visible signs, but likely outdated	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale Painting and minor repairs — Fresh paint and repairs can significantly improve curb appeal ↑
• Rental Landscaping — Well-maintained landscaping can attract renters ↑
• Both HVAC upgrade — Upgrading HVAC can improve comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• City population: 39,196
• Population (ZIP): 6,458

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 0.69)
• Race & ethnicity: White 42% Black 34% Hispanic / Latino 14% Two or more races 8% Native American 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4%
• Common ancestry: Serbian 3% Italian 2% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 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: ▲ 15.91%
• Current HPI: 330.85
• 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

+92.9% since first listed

9 events — show timeline

• 2026-03-29 Listed $135,000 LPRMLS
• 2026-02-25 Listed $135,000 LPRMLS
• 2025-08-12 Sold (Public Records) $70,000 Public Records
• 2025-08-11 Sold (MLS) $70,000 LPRMLS
• 2025-07-24 Pending — LPRMLS
• 2025-06-18 Price Changed $84,900 LPRMLS
• 2025-05-01 Price Changed $89,900 LPRMLS
• 2025-03-05 Listed $95,000 LPRMLS
• 1996-04-19 Sold (Public Records) $70,000 Public Records

Property tax history

+16.4%/yr

Latest (2025): $1,415 · +67.5% YoY. Source: county tax records.