2232 Progress St St · Fayetteville, NC 28306

$110,000

3 bd · 1.0 ba · 675 sqft · SingleFamily public records · 166 Days on market

Built 1955 8,276 sqft lot ↓ 17% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• 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

Welcome to M B Person, where charm meets convenience. Back on market NEW ROOF!!, This stunning 2-bedroom, 1-bathroom home offers an ideal layout, perfect for families or anyone looking for a cozy and spacious home. The large yard provides ample space for outdoor activities, play, and entertaining guests, making it a wonderful area for both relaxation and fun. Don’t miss out on the opportunity to experience the comfort and space this home has to offer. Schedule a showing today and see firsthand how this property can meet your needs and exceed your expectations

Key facts

• 8,276 sq ft lot
• Built 1955
• Listed 166 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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: 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.
• Zoned schools: Douglas Byrd Middle (math 13% / reading 30%, grade F, #422 of 475 statewide, top 89%, 935 students, 100% FRL); Douglas Byrd High (math 22% / reading 42%, grade F, #445 of 535 statewide, top 84%, 940 students, 99% FRL) — zoned schools average 99% FRL vs 55% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 401 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.36% ✓
• Cap rate: 11.75%
• Cash-on-cash: 19.48%
• DSCR: 1.87
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $49,950
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2219 Progress St	0.07mi	2/1.0 (-1)	672 (-0%)	22mo	$50,000	$74	73
215 Dallas St	0.10mi	2/1.0 (-1)	720 (+7%)	20mo	$115,000	$160	62
1925 Progress St	0.34mi	2/1.0 (-1)	765 (+13%)	3mo	$79,000	$103	55
107 May St	0.75mi	3/1.0	648 (-4%)	21mo	$35,500	$55	41
1915 Progress St	0.37mi	2/1.0 (-1)	576 (-15%)	22mo	$41,000	$71	35

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: 9.2%
• Equity multiple: 1.35×
• Total profit: $10,906
• Equity at exit: $16,401

10-year hold

• IRR: 16.7%
• Equity multiple: 2.24×
• Total profit: $38,237
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,493 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$57 /mo · $684/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $500

Break-even live

Break-even rent $860

Max offer price $110,000

Occupancy floor 62%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Briar Cir Fayetteville, NC	1.0–2.0	1.0–1.5	765	$1,283	$1.68	13d	36	1.49mi

Listing history 15 events

1. 2026-06-09
   status $110,000 Pending 166 DOM
2. 2026-06-08
   days on market $110,000 Active 166 DOM
3. 2026-06-07
   pricestatusdays on market $110,000 Active 165 DOM
4. 2026-04-23
   status Pending
5. 2026-04-14
   price $100,000
6. 2026-04-07
   status Active
7. 2026-02-13
   status Pending
8. 2026-02-13
   price $115,000
9. 2026-01-14
   status Active
10. 2026-01-03
    status Pending
11. 2025-12-18
    price $100,000
12. 2025-11-26
    price $110,000
13. 2025-11-26
    status Active
14. 2025-08-22
    price $115,000
15. 2025-08-01
    listed $120,000 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: $684 · $57/mo
• Projected year-2 tax: $902 · $75/mo
• Expected delta: +$218/yr (+$18/mo · 31.9%)

ⓘ 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 8/10 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: $17,920
• − Mortgage interest: −$6,162
• − Property taxes: −$684
• − Insurance: −$550
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$3,200
• Taxable income: $4,457
• Est. tax owed @ 24.0%: −$1,070
• After-tax cash flow: $4,931/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

-16.7% since first listed

12 events — show timeline

• 2026-04-23 Pending — LPRMLS
• 2026-04-14 Price Changed $100,000 LPRMLS
• 2026-04-07 Relisted — LPRMLS
• 2026-02-13 Pending — LPRMLS
• 2026-02-13 Price Changed $115,000 LPRMLS
• 2026-01-14 Relisted — LPRMLS
• 2026-01-03 Pending — LPRMLS
• 2025-12-18 Price Changed $100,000 LPRMLS
• 2025-11-26 Price Changed $110,000 LPRMLS
• 2025-11-26 Relisted — LPRMLS
• 2025-08-22 Price Changed $115,000 LPRMLS
• 2025-08-01 Listed $120,000 LPRMLS

Property tax history

+1.3%/yr

Latest (2025): $684 · -36.5% YoY. Source: county tax records.