3148 Korea Cir · Hope Mills, NC 28306

$58,500

3 bd · None ba · 1,039 sqft · Other · 20 Days on market

Built 2026 Excellent condition

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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
• Condition / age +5.0/5.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Tired of paying rent on an apartment that isn & acirc; & euro; & trade; t yours? The Glory is a brand-new 2026 home, move-in ready, with everything you need to start your life as a homeowner. Three bedrooms and two full bathrooms. This thoughtfully designed home features an open-concept floor plan and a spacious kitchen with dining area, with space big enough for family dinners, movie nights, and everything in between. The split-bedroom layout provides added privacy, while the private master bedroom with en-suite bath adds comfort and convenience. This home is built to be energy-efficient, so your utility bills stay low, and a full-size utility room with washer/dryer hookup prov

Key facts

• Split-bedroom layout
• Spacious kitchen
• En-suite bath

Tags

• OPEN-CONCEPT FLOOR PLAN
• SPACIOUS KITCHEN
• SPLIT-BEDROOM LAYOUT
• PRIVATE MASTER BEDROOM
• EN-SUITE BATH
• ENERGY-EFFICIENT

Property features AI

Exterior

• Home design: New construction (built in 2026); Single-family home
• Construction: Built in 2026
• Exterior features: Located in the South View subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath other listed at $58k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $803 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.8% 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: schools D, crime D-, 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.
• Market conditions: Rents flat; 401 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $404 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 $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 74% 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 $57,622 (1.5% 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. 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?
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: 2.61% ✓
• Cap rate: 22.77%
• Cash-on-cash: 58.83%
• DSCR: 3.62
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.9% rent growth · sell at horizon

5-year hold

• IRR: 55.1%
• Equity multiple: 3.35×
• Total profit: $38,529
• Equity at exit: $8,723

10-year hold

• IRR: 59.3%
• Equity multiple: 6.32×
• Total profit: $87,062
• Equity at exit: $5,058

Cash invested: $16,380 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,528 high
• Mortgage (P&I): −$307
• Tax est. 1.5%: −$73 /mo · $878/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $803

Break-even live

Break-even rent $512

Max offer price $58,500

Occupancy floor 42%

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: $14,625
• Closing costs: $1,755
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1514 Aristo Pl Hope Mills, NC	2.0	2.0	1000	$1,050	$1.05	13d	1	0.50mi
3332 Kenmont Ln Unit E Hope Mills, NC	2.0	2.5	1100	$1,150	$1.05	23d	1	0.78mi
3038 Walesby Dr Fayetteville, NC	3.0	2.0	1272	$1,650	$1.30	23d	1	1.02mi
3506 Shipstone Pl Hope Mills, NC	2.0	2.0	1280	$1,380	$1.08	13d	3	1.03mi
5693A Archer Rd Hope Mills, NC	2.0	1.5	874	$1,100	$1.26	13d	1	1.04mi
1055 Winnall LN Hope Mills, NC	1.0–3.0	1.0–2.0	1132	$2,000	$1.77	13d	20	1.04mi
2935 Chillingworth Dr Fayetteville, NC	3.0	2.0	1403	$1,750	$1.25	13d	1	1.08mi
3636 Metric Dr Hope Mills, NC	3.0	1.5	1100	$1,400	$1.27	13d	1	1.17mi
3511 Birchfield Ct Fayetteville, NC	2.0–3.0	2.0	1270	$1,685	$1.33	13d	5	1.23mi
2579 Gotts Ln Fayetteville, NC	2.0	2.0	1200	$1,295	$1.08	21d	1	1.26mi
3916 Middle St Hope Mills, NC	2.0	1.0	905	$1,115	$1.23	13d	1	1.29mi
5532 Robmont Dr Fayetteville, NC	2.0	2.0	1301	$1,800	$1.38	13d	1	1.31mi
2524 Penny Dr Fayetteville, NC	3.0	2.0	1330	$1,400	$1.05	23d	1	1.35mi
5715 Walkabout Rd Hope Mills, NC	3.0	2.0	1143	$1,675	$1.47	23d	1	1.47mi
3462 Marty Cir Hope Mills, NC	3.0	2.0	1120	$1,250	$1.12	23d	1	1.47mi

Listing history 16 events

1. 2026-06-18
   days on market $58,500 Active 20 DOM
2. 2026-06-17
   days on market $58,500 Active 19 DOM
3. 2026-06-16
   days on market $58,500 Active 18 DOM
4. 2026-06-15
   days on market $58,500 Active 17 DOM
5. 2026-06-14
   days on market $58,500 Active 15 DOM
6. 2026-06-13
   days on market $58,500 Active 14 DOM
7. 2026-06-10
   days on market $58,500 Active 12 DOM
8. 2026-06-09
   days on market $58,500 Active 11 DOM
9. 2026-06-08
   days on market $58,500 Active 10 DOM
10. 2026-06-07
    days on market $58,500 Active 9 DOM
11. 2026-06-03
    days on market $58,500 Active 5 DOM
12. 2026-06-02
    days on market $58,500 Active 4 DOM
13. 2026-06-01
    days on market $58,500 Active 3 DOM
14. 2026-05-31
    days on market $58,500 Active 2 DOM
15. 2026-05-30
    remarks 687-char remark
16. 2026-05-30
    listed $58,500 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 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: $18,340
• − Mortgage interest: −$3,277
• − Property taxes: −$878
• − Insurance: −$292
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$1,702
• Taxable income: $9,257
• Est. tax owed @ 24.0%: −$2,222
• After-tax cash flow: $7,415/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 · 1 photo

Excellent 100/100 None rehab

This brand-new 2026 home is move-in ready and in excellent condition, with no visible repairs or maintenance needed. It offers a spacious floor plan, energy-efficient features, and a well-maintained exterior and interior. Potential buyers and tenants will appreciate the home's curb appeal and functionality.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants.
• Both Add a small patio or deck — A small outdoor space can increase the home's appeal and functionality.
• Both Install smart home features — Smart home features can increase the home's value and attract tech-savvy buyers/tenants.
• Both Add a small shed or storage unit — Additional storage can be useful for both buyers and tenants.
• Both Install a smart thermostat — A smart thermostat can improve energy efficiency and comfort for both buyers and tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both Add a small patio or deck — A small outdoor space can increase the home's appeal and functionality. ↑
• Both Install smart home features — Smart home features can increase the home's value and attract tech-savvy buyers/tenants. ↑
• Both Add a small shed or storage unit — Additional storage can be useful for both buyers and tenants. ↑
• Both Install a smart thermostat — A smart thermostat can improve energy efficiency and comfort for both buyers and tenants. ↑

ⓘ 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

• County: Cumberland County · 265,314 people
• City population: 39,196
• 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

1 event — show timeline

• 2026-05-30 Listed $58,500 FSBO.com