240 Appalachian Dr · Raeford, NC 28376

$279,900

3 bd · 2.0 ba · 1,616 sqft · SingleFamily public records · 24 Days on market

Built 2008 0.46 ac lot Est $270k · at est.

---

Why this score? — see what drove the D- 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 +13.9/30.0
• ARV discount +5.8/15.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RG12-C06BF Opt#28 Plan. Great Rm w/gas log FP. Hwds in Foyer & Formal Dining. Nook. Garden Tub in MBR Bath. Fin. Bonus Rm (could be 4th BR). Patio & Double Garage. Cul-de-sac Lot. Seller offers $3200 in Buyers Closing costs & $1000 Refrigerator allowance! New Construction- 3BRs/2BAs. Great Rm w/gas log FP. Hwds in Foyer & Formal Dining. Nook. Garden Tub in MBR Bath. Fin. Bonus Rm (could be 4th BR). Patio & Double Garage. Cul-de-sac Lot.

Key facts

• Cul de sac location
• Large yard
• Bonus room

Tags

• CUL DE SAC LOCATION
• LARGE YARD
• BONUS ROOM

Property features AI

Exterior

• Parking: Attached garage with 2 covered spaces
• Security: Security system; Smoke detector(s)
• Utilities: Public water; Septic tank and holding tank sewer
• Home design: Single-family residence; Residential property
• Construction: Brick veneer exterior
• Exterior features: Patio; Level lot; Located on a cul-de-sac

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range
• Bedrooms: Total rooms: 8
• Flooring: Carpet; Hardwood; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Ceiling fan cooling
• Interior features: Tray ceilings, cathedral, coffered and vaulted ceilings; Ceiling fans throughout; Walk-in closet(s); Factory-built fireplace (1)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $31 ($370/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 $218k (22.1% below list).
• Recommended offer: $218k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.1% in Raeford — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#39 in NC, #3,562 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F, employment F.
• Hoke County Schools (suburban): math 35% / reading 40% proficiency, ranked #123 of 178 in NC (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Scurlock Elementary (math 36% / reading 34%, grade F, #825 of 1,410 statewide, top 59%, 619 students, 100% FRL); East Hoke Middle (math 32% / reading 40%, grade F, #273 of 475 statewide, top 58%, 780 students, 100% FRL); Hoke County High (math 42% / reading 44%, grade F, #372 of 535 statewide, top 69%, 2,060 students, 100% FRL) — zoned schools average 100% FRL vs 57% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.9%/yr); 575 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 685 units permitted in Hoke County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($66k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Hoke County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $150k; list at $280k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 74% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,132 (22.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.78% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $269,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
244 Rocky Mountain Dr	0.08mi	3/2.0	1,605 (-1%)	14mo	$272,000	$169	84
147 Smokey Mountain Dr	0.23mi	4/2.0 (+1)	1,638 (+1%)	7mo	$269,000	$164	76
169 Broadridge Ct	0.26mi	3/2.0	1,737 (+8%)	0mo	$275,000	$158	75
151 Sierra Ct	0.24mi	4/2.0 (+1)	1,696 (+5%)	1mo	$273,000	$161	75
137 Boulder Ct	0.25mi	3/2.0	1,539 (-5%)	9mo	$269,900	$175	73
530 Smokey Mountain Dr	0.28mi	4/2.0 (+1)	1,599 (-1%)	9mo	$280,000	$175	73
279 Hunters Creek Dr	0.39mi	3/2.0	1,600 (-1%)	10mo	$225,000	$141	72
157 Dartmoor (lot 56) Ln	0.25mi	3/2.0	1,724 (+7%)	14mo	$284,534	$165	65
191 Wolfbridge Dr	0.28mi	3/2.0	1,424 (-12%)	5mo	$243,500	$171	63
112 Smokey Mountain Dr	0.29mi	4/2.5 (+1)	1,780 (+10%)	0mo	$305,000	$171	62
332 Dundee Cir	0.61mi	3/2.5	1,642 (+2%)	10mo	$265,000	$161	58
878 Wicklow Ln	0.75mi	3/2.0	1,725 (+7%)	4mo	$287,990	$167	50

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 · 1.92% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-45,851
• Equity at exit: $41,734

10-year hold

• IRR: -10.4%
• Equity multiple: 0.40×
• Total profit: $-47,281
• Equity at exit: $24,201

Cash invested: $78,372 (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 28376

• Home prices YoY: -24.0%
• Rents YoY: 1.9%
• Active inventory: 575
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,181 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$108 /mo · $1,295/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $31

Break-even live

Break-even rent $2,142

Max offer price $279,900

Occupancy floor 94%

Sensitivity live

Price	-10% $189	-5% $110	+0% $31	+5% $-48	+10% $-128
Rent	-10% $-141	-5% $-55	+0% $31	+5% $117	+10% $203
Rate	-1.0pp $172	-0.5pp $102	base $31	+0.5pp $-42	+1.0pp $-115

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Bourbon (lot 13) ST Raeford, NC	4.0	2.5	1967	$2,400	$1.22	25d	1	1.00mi
136 Bourbon St , NC	3.0	2.5	2147	$2,200	$1.02	25d	1	1.02mi
163 Bourbon St Raeford, NC	4.0	2.5	1967	$2,400	$1.22	25d	1	1.02mi
310 Buckeye Dr Raeford, NC	3.0	2.0	1336	$1,600	$1.20	25d	1	1.28mi
283 Crowville St , NC	4.0	2.0	1866	$2,200	$1.18	15d	1	1.47mi

Listing history 20 events

1. 2026-06-21
   days on market $279,900 Active 24 DOM
2. 2026-06-18
   days on market $279,900 Active 21 DOM
3. 2026-06-17
   days on market $279,900 Active 20 DOM
4. 2026-06-16
   days on market $279,900 Active 19 DOM
5. 2026-06-15
   days on market $279,900 Active 18 DOM
6. 2026-06-14
   days on market $279,900 Active 16 DOM
7. 2026-06-13
   days on market $279,900 Active 15 DOM
8. 2026-06-10
   days on market $279,900 Active 13 DOM
9. 2026-06-09
   days on market $279,900 Active 12 DOM
10. 2026-06-08
    days on market $279,900 Active 11 DOM
11. 2026-06-07
    days on market $279,900 Active 10 DOM
12. 2026-06-05
    days on market $279,900 Active 7 DOM
13. 2026-06-03
    days on market $279,900 Active 6 DOM
14. 2026-06-02
    days on market $279,900 Active 5 DOM
15. 2026-06-01
    days on market $279,900 Active 4 DOM
16. 2026-05-31
    days on market $279,900 Active 3 DOM
17. 2026-05-30
    days on market $279,900 Active 2 DOM
18. 2026-05-28
    listed $279,900 Active
19. 2008-04-04
    soldstatus $149,950 460-char remark

    Show marketing remark (460 chars)

    RG12-C06BF Opt#28 Plan. Great Rm w/gas log FP. Hwds in Foyer & Formal Dining. Nook. Garden Tub in MBR Bath. Fin. Bonus Rm (could be 4th BR). Patio & Double Garage. Cul-de-sac Lot. Seller offers $3200 in Buyers Closing costs & $1000 Refrigerator allowance! New Construction- 3BRs/2BAs. Great Rm w/gas log FP. Hwds in Foyer & Formal Dining. Nook. Garden Tub in MBR Bath. Fin. Bonus Rm (could be 4th BR). Patio & Double Garage. Cul-de-sac Lot.

20. 2007-12-13
    listed $149,995 460-char remark

    Show marketing remark (460 chars)

    RG12-C06BF Opt#28 Plan. Great Rm w/gas log FP. Hwds in Foyer & Formal Dining. Nook. Garden Tub in MBR Bath. Fin. Bonus Rm (could be 4th BR). Patio & Double Garage. Cul-de-sac Lot. Seller offers $3200 in Buyers Closing costs & $1000 Refrigerator allowance! New Construction- 3BRs/2BAs. Great Rm w/gas log FP. Hwds in Foyer & Formal Dining. Nook. Garden Tub in MBR Bath. Fin. Bonus Rm (could be 4th BR). Patio & Double Garage. Cul-de-sac Lot.

ⓘ 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: $1,295 · $108/mo
• Projected year-2 tax: $2,295 · $191/mo
• Expected delta: +$1,000/yr (+$83/mo · 77.2%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $26,176
• − Mortgage interest: −$15,679
• − Property taxes: −$1,295
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,094
• − Management: −$2,094
• − Depreciation: −$8,143
• Taxable loss: −$4,528
• Est. tax savings @ 24.0%: +$1,087
• After-tax cash flow: $1,457/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: Hoke County Schools
• NCES district ID: 3702250
• Math proficiency: 35% ▼ -1.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $43,896
• Composite: 31.82/100
• National rank: #5880
• State rank: #123 of 178 in NC

Livability — Raeford

• Score: 76/100
• State rank: #39
• US rank: #3562

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hoke County · 44,880 people
• City population: 44,880
• Metro: Fayetteville, NC
• Population (ZIP): 44,880
• Household income: $66,471
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 897.0

Population outlook (Hoke County) Hauer SSP2

• Today (2025): 63,354 people
• By 2030: 68,361 · +7.9%
• By 2040: 78,074 · +23.2%
• By 2050: 86,384 · +36.4%
• By 2075: 99,517 · +57.1%
• By 2100: 98,939 · +56.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 38% Black 35% Hispanic / Latino 15% Two or more races 9% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 8% French/Haitian/Cajun 1%

Political lean MEDSL · Hoke

• 2024 margin: Lean D (+5.9) · D 52.4% · R 46.4% · Other 1.2%
• 2008→2024 swing: -12.8pp toward R · 2008: 18.8pp · 2024: 5.9pp
• All cycles: 2024: D+5.9 2020: D+10.9 2016: D+10.8 2012: D+19.0 2008: D+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.30%
• Current HPI: 169.1801
• Rent YoY: ▲ 1.92%
• 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

+86.6% since first listed

3 events — show timeline

• 2026-05-28 Listed $279,900 LPRMLS
• 2008-04-04 Sold (MLS) $149,950 TMLS
• 2007-12-13 Listed $149,995 TMLS

Property tax history

-0.6%/yr

Latest (2025): $1,295 · +0.0% YoY. Source: county tax records.