100 Spencer St · Fayetteville, NC 28306

$55,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 9 Days on market

Built 1900

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PLEASE CONTACT HOMEOWNER, Dillon Mabe at 336-580-9581, FOR ANY INFORMATION REGARDING THIS PROPERTY.

Key facts

• Built 1900
• Listed 9 days

Property features AI

Finance

• Other: Property listed by Longleaf Pine Realtors

Exterior

• Utilities: Other water source; Other sewer
• Home design: Single family residence; One level / 1 story
• Construction: Vinyl siding
• Exterior features: Zoned MR5 - Mixed Residential; Subdivision: NONE; Directions: Follow your GPS

Interior

• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Has heating (see remarks for details)
• Interior features: Other flooring; No fireplace; Has basement (other type)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $805 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Cap rate 23.9% 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.

Location & tenants

• 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: Rents flat; 401 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $25k; list at $55k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; moderate 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 $55,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.87% ✓
• Cap rate: 23.87%
• Cash-on-cash: 62.76%
• DSCR: 3.79
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $113,000
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 Spencer St	0.00mi	3/2.0	1,000 (0%)	1mo	$55,000	$55	96
1215 Camden Rd	0.34mi	3/1.0	1,064 (+6%)	15mo	$110,000	$103	61
1219 Camden Rd	0.35mi	2/1.0 (-1)	915 (-8%)	16mo	$107,000	$117	51
115 Pitt St	0.50mi	2/2.0 (-1)	1,103 (+10%)	11mo	$132,000	$120	41
1101 Center St	0.68mi	2/1.0 (-1)	1,062 (+6%)	16mo	$119,750	$113	39

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 · 0.9% rent growth · sell at horizon

5-year hold

• IRR: 59.2%
• Equity multiple: 3.54×
• Total profit: $39,176
• Equity at exit: $8,201

10-year hold

• IRR: 63.2%
• Equity multiple: 6.69×
• Total profit: $87,553
• Equity at exit: $4,755

Cash invested: $15,400 (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 28306

• Home prices YoY: -17.7%
• Rents YoY: 0.9%
• Active inventory: 401
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,580 high
• Mortgage (P&I): −$288
• Tax from tax record: −$132 /mo · $1,580/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $805

Break-even live

Break-even rent $561

Max offer price $55,000

Occupancy floor 44%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
522 Jernigan St Fayetteville, NC	3.0	2.5	1406	$1,650	$1.17	23d	1	0.62mi
718 Dwain Dr Fayetteville, NC	3.0	1.0	962	$1,250	$1.30	23d	1	0.83mi
2026 Progress St Fayetteville, NC	3.0	2.5	1500	$1,600	$1.07	13d	1	1.03mi
1319 Levy Dr Fayetteville, NC	3.0	2.0	1428	$1,700	$1.19	13d	1	1.05mi
452 Cityview Ln Fayetteville, NC	2.0	2.5	1088	$1,200	$1.10	23d	1	1.07mi
314 Bradford Ave Fayetteville, NC	3.0	2.0	1000	$1,380	$1.38	23d	1	1.09mi
421 Cityview Ln Fayetteville, NC	2.0	2.5	1050	$1,700	$1.62	23d	1	1.09mi
807 Branson St #2 Fayetteville, NC	3.0	2.0	1304	$1,350	$1.04	23d	1	1.13mi
2123 Burnett Ave Fayetteville, NC	3.0	2.0	1100	$1,600	$1.45	23d	1	1.14mi
159 Maxwell St Unit 200 Fayetteville, NC	2.0	2.0	1000	$1,450	$1.45	23d	1	1.18mi
1347 Levy Dr Fayetteville, NC	3.0	1.0	999	$1,000	$1.00	23d	1	1.20mi
322 Valley Rd Fayetteville, NC	3.0	2.0	1328	$1,650	$1.24	13d	1	1.22mi
123 Pennmark Pl Fayetteville, NC	2.0	2.5	1380	$1,600	$1.16	13d	1	1.26mi
450 Hay St Fayetteville, NC	1.0–2.0	1.0–2.0	799	$1,745	$2.18	13d	3	1.34mi
1106 Clark St Unit A Fayetteville, NC	2.0	1.0	825	$975	$1.18	23d	1	1.35mi
123 Anderson St Fayetteville, NC	2.0	2.0	1500	$1,800	$1.20	23d	1	1.36mi
2516 Cumberland Rd Fayetteville, NC	3.0	2.0	1442	$1,500	$1.04	23d	1	1.40mi

Listing history 3 events

1. 2026-05-22
   status Pending
2. 2026-05-13
   listed $55,000 Active
3. 2005-10-03
   soldstatus $25,000

ⓘ 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: $1,580 · $132/mo
• Projected year-2 tax: $1,580 · $132/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 15 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: $18,963
• − Mortgage interest: −$3,081
• − Property taxes: −$1,580
• − Insurance: −$275
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$1,600
• Taxable income: $9,393
• Est. tax owed @ 24.0%: −$2,254
• After-tax cash flow: $7,410/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 — Fayetteville

• Score: 75/100
• State rank: #45
• US rank: #4031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fayetteville, NC
• County: Cumberland County · 265,314 people
• City population: 226,118
• Metro: Fayetteville, NC
• Population (ZIP): 43,042
• Household income: $67,544
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1386.0

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 0.68)
• Race & ethnicity: White 44% Black 33% Hispanic / Latino 13% Two or more races 8% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 8% · Canada, South Korea, Jamaica
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -51.69%
• Current HPI: 239.7281
• Rent YoY: ▲ 0.90%
• 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

+120.0% since first listed

3 events — show timeline

• 2026-05-22 Pending — LPRMLS
• 2026-05-13 Listed $55,000 LPRMLS
• 2005-10-03 Sold (Public Records) $25,000 Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,580 · +76.1% YoY. Source: county tax records.