115 Beech Dr · Raeford, NC 28376

$235,000

3 bd · 2.0 ba · 1,236 sqft · SingleFamily public records · 4 Days on market

Built 1998 0.35 ac lot Est $226k · 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 +14.8/30.0
• ARV discount +5.7/15.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• 1% rule +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you’re looking for neighborhood living with low taxes, this is it! Enjoy this beautiful home with a fantastic layout and a beautiful living room with fireplace, owner's suite includes a large walk-in closet, and a large fenced-in back yard perfect for entertaining. Updates made to the home include a freshly painted interior, new carpet in bedrooms, updated bathrooms with new LVP flooring, a new roof in 2015, and new heat pump and AC in 2016. This home is sure to go quick! Call today to make an offer!

Key facts

• Raised deck
• Stone fireplace
• Updated kitchen

Tags

• STONE FIREPLACE
• UPDATED KITCHEN
• OVERSIZED FENCED BACKYARD
• PERGOLA COVERED CONCRETE PATIO
• RAISED DECK
• OUTDOOR STORAGE BUILDING

Property features AI

Exterior

• Parking: Attached garage; 2 covered garage spaces (2-car garage)
• Utilities: Public water; Septic tank / holding tank
• Home design: Residential single-family home; Single family residence
• Construction: No basement; Above- and below-grade area measured in square feet
• Exterior features: Storage; Deck; Porch; Patio; Fenced backyard with privacy fencing; Cleared lot; Interior lot; Paved road access

Interior

• Kitchen: Refrigerator; Dishwasher; Microwave; Range; Eat-in kitchen layout
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms; Double vanity(s)
• Heating & cooling: Heat pump heating; Central electric air conditioning; Ceiling fans
• Interior features: Ceiling fans; Double vanities; Entrance foyer; Eat-in kitchen; Open floor plan; Walk-in closets; Window coverings and blinds; Gas fireplace
• Laundry & utility: Washer hookup on main level; In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $64 ($771/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 $189k (19.4% below list).
• Recommended offer: $189k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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; 2 comparable units currently listed for rent nearby; 685 units permitted in Hoke County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% 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 $7k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $195k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 68% 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 $189,349 (19.4% 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: 0.81% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $226,188
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Beech Dr	0.04mi	3/2.0	1,211 (-2%)	1mo	$230,000	$190	94
115 Beech Dr	0.00mi	3/2.0	1,281 (+4%)	0mo	$236,000	$184	94
806 S Buckeye Dr	0.18mi	3/2.0	1,273 (+3%)	2mo	$177,500	$139	85
337 Buckeye Dr	0.10mi	3/2.0	1,219 (-1%)	11mo	$224,000	$184	84
109 Beech Dr	0.04mi	3/2.0	1,328 (+7%)	6mo	$229,000	$172	80
114 Cypress Dr	0.13mi	3/2.0	1,271 (+3%)	13mo	$233,000	$183	78
786 S Buckeye Dr	0.23mi	3/2.0	1,322 (+7%)	12mo	$239,900	$181	67
120 Woodbine Dr	0.20mi	3/2.0	1,324 (+7%)	16mo	$221,900	$168	65
216 Northwoods Dr	0.48mi	3/2.0	1,116 (-10%)	8mo	$218,900	$196	54
190 Rye Ln	0.41mi	3/2.0	1,393 (+13%)	7mo	$240,000	$172	54
398 Northwoods Dr	0.72mi	3/2.0	1,233 (-0%)	15mo	$240,000	$195	53
225 Northwoods Dr	0.48mi	3/2.0	1,359 (+10%)	11mo	$230,000	$169	51

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: -15.6%
• Equity multiple: 0.45×
• Total profit: $-36,116
• Equity at exit: $35,039

10-year hold

• IRR: -8.9%
• Equity multiple: 0.47×
• Total profit: $-34,720
• Equity at exit: $20,319

Cash invested: $65,800 (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 28376

• Home prices YoY: -24.0%
• Rents YoY: 1.9%
• Active inventory: 575
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,893 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$101 /mo · $1,216/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $64

Break-even live

Break-even rent $1,812

Max offer price $235,000

Occupancy floor 92%

Sensitivity live

Price	-10% $197	-5% $131	+0% $64	+5% $-2	+10% $-69
Rent	-10% $-85	-5% $-11	+0% $64	+5% $139	+10% $214
Rate	-1.0pp $183	-0.5pp $124	base $64	+0.5pp $3	+1.0pp $-59

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Buckeye Dr Raeford, NC	3.0	2.0	1336	$1,600	$1.20	25d	1	0.04mi
477 Northwoods Dr Raeford, NC	3.0	2.0	1206	$1,700	$1.41	16d	1	1.05mi

Listing history 8 events

1. 2026-05-10
   status Pending
2. 2026-05-06
   listed $235,000 Active
3. 2022-07-27
   soldstatus $195,000
4. 2022-07-26
   soldstatus $195,000 Closed 527-char remark

   Show marketing remark (514 chars)

   If you’re looking for neighborhood living with low taxes, this is it! Enjoy this beautiful home with a fantastic layout and a beautiful living room with fireplace, owner's suite includes a large walk-in closet, and a large fenced-in back yard perfect for entertaining. Updates made to the home include a freshly painted interior, new carpet in bedrooms, updated bathrooms with new LVP flooring, a new roof in 2015, and new heat pump and AC in 2016. This home is sure to go quick! Call today to make an offer!

5. 2022-07-26
   soldstatus $195,000 514-char remark

   Show marketing remark (514 chars)

   If you’re looking for neighborhood living with low taxes, this is it! Enjoy this beautiful home with a fantastic layout and a beautiful living room with fireplace, owner's suite includes a large walk-in closet, and a large fenced-in back yard perfect for entertaining. Updates made to the home include a freshly painted interior, new carpet in bedrooms, updated bathrooms with new LVP flooring, a new roof in 2015, and new heat pump and AC in 2016. This home is sure to go quick! Call today to make an offer!

6. 2022-06-13
   status Pending 527-char remark

   Show marketing remark (527 chars)

   If you’re looking for neighborhood living with low taxes, this is it! Enjoy this beautiful home with a fantastic layout and a beautiful living room with fireplace, owner's suite includes a large walk-in closet, and a large fenced-in back yard perfect for entertaining. Updates made to the home include a freshly painted interior, new carpet in bedrooms, updated bathrooms with new LVP flooring, a new roof in 2015, and new heat pump and AC in 2016. This home is sure to go quick! Call today to make an offer!

7. 2022-06-10
   listed $184,900 Active 527-char remark

   Show marketing remark (514 chars)

   If you’re looking for neighborhood living with low taxes, this is it! Enjoy this beautiful home with a fantastic layout and a beautiful living room with fireplace, owner's suite includes a large walk-in closet, and a large fenced-in back yard perfect for entertaining. Updates made to the home include a freshly painted interior, new carpet in bedrooms, updated bathrooms with new LVP flooring, a new roof in 2015, and new heat pump and AC in 2016. This home is sure to go quick! Call today to make an offer!

8. 2022-06-10
   listed $184,900 514-char remark

   Show marketing remark (514 chars)

   If you’re looking for neighborhood living with low taxes, this is it! Enjoy this beautiful home with a fantastic layout and a beautiful living room with fireplace, owner's suite includes a large walk-in closet, and a large fenced-in back yard perfect for entertaining. Updates made to the home include a freshly painted interior, new carpet in bedrooms, updated bathrooms with new LVP flooring, a new roof in 2015, and new heat pump and AC in 2016. This home is sure to go quick! Call today to make an offer!

ⓘ 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: $1,216 · $101/mo
• Projected year-2 tax: $1,927 · $161/mo
• Expected delta: +$711/yr (+$59/mo · 58.4%)

ⓘ 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 6/10 Major 68% 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: $22,722
• − Mortgage interest: −$13,164
• − Property taxes: −$1,216
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,818
• − Management: −$1,818
• − Depreciation: −$6,836
• Taxable loss: −$3,305
• Est. tax savings @ 24.0%: +$793
• After-tax cash flow: $1,564/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

+27.1% since first listed

8 events — show timeline

• 2026-05-10 Pending — LPRMLS
• 2026-05-06 Listed $235,000 LPRMLS
• 2022-07-27 Sold (Public Records) $195,000 Public Records
• 2022-07-26 Sold (MLS) $195,000 LPRMLS
• 2022-07-26 Sold (MLS) $195,000 TMLS
• 2022-06-13 Pending — TMLS
• 2022-06-10 Listed $184,900 LPRMLS
• 2022-06-10 Listed $184,900 TMLS

Property tax history

+1.3%/yr

Latest (2025): $1,216 · +0.0% YoY. Source: county tax records.