518 College Dr · Raeford, NC 28376

$160,000

3 bd · 1.5 ba · 1,360 sqft · SingleFamily public records · 42 Days on market

Built 1966 0.54 ac lot Est $233k · 31% under

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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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +5.8/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property sold 'AS IS, WHERE IS WITH ALL FAULTS'. House has Living room and Dining room combination. House has 'Concrete Driveway'. *** PRICE REDUCED $10,000 *** Seller will pay up to $2,000 in closing costs Turn Right onto Cole Avenue (Just past W Central Avenue and a CVS Pharmacy is on the corner) go 0.2 miles. Take the 1st Right onto College Drive; 518 College Drive is 0.3 miles on the right (If you reach Diehl Street you've gone about 0.1 mile too far).

Key facts

• 0.54 acre lot
• Parking
• Built 1966

Property features AI

Exterior

• Parking: Attached carport; 1 covered parking space; 1 carport space
• Utilities: Public water; Holding tank or septic sewer
• Home design: Single family residence; One-story
• Construction: Brick construction
• Exterior features: Deck; Covered patio/porch; Porch; Storm doors; Back yard fencing; Level topography/lot

Interior

• Kitchen: Refrigerator; Microwave; Cooktop; Range; Range hood; Stainless steel appliances
• Bedrooms: 4 total rooms (includes bedrooms and living areas)
• Flooring: Carpet; Hardwood; Tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air (electric); Electric forced air heating
• Interior features: Eat-in kitchen; Storage; Window coverings and blinds; Crawl space basement
• Laundry & utility: Washer and dryer in unit

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.4% in Raeford — 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 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: West Hoke Middle (math 23% / reading 32%, grade F, #368 of 475 statewide, top 78%, 576 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); 566 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 31% 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 $1k of loan paydown is wiped out by about $5k 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 42 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $160k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 72% 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 $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.08% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $232,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
833 W Prospect Ave	0.25mi	3/2.0	1,377 (+1%)	6mo	$65,000	$47	80
125 W Palmer St	0.57mi	3/2.0	1,352 (-1%)	2mo	$175,000	$129	68
281 Apple Tree Cir	0.23mi	3/2.0	1,524 (+12%)	6mo	$260,000	$171	62
245 Apple Tree Cir	0.22mi	3/2.0	1,554 (+14%)	6mo	$255,000	$164	59
109 N Dickson St	0.49mi	3/1.5	1,483 (+9%)	7mo	$203,000	$137	56
102 Will Johnson Rd	0.19mi	3/2.0	1,550 (+14%)	13mo	$260,000	$168	55
393 Gable Dr	0.57mi	3/2.0	1,468 (+8%)	4mo	$259,900	$177	55
261 W Palmer St	0.43mi	3/2.5	1,533 (+13%)	2mo	$270,000	$176	53
242 Westminster Dr	0.73mi	3/2.0	1,421 (+4%)	8mo	$255,000	$179	50
150 Mayor Ct	0.64mi	3/2.0	1,450 (+7%)	13mo	$263,900	$182	46
212 N Roberts St	0.56mi	2/1.0 (-1)	1,468 (+8%)	11mo	$175,000	$119	44
167 Westminster Dr	0.65mi	3/2.0	1,500 (+10%)	10mo	$267,000	$178	42

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,136
• Equity at exit: $23,857

10-year hold

• IRR: 7.3%
• Equity multiple: 1.53×
• Total profit: $23,530
• Equity at exit: $13,834

Cash invested: $44,800 (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: 566
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,730 high
• Mortgage (P&I): −$839
• Tax from tax record: −$57 /mo · $688/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $404

Break-even live

Break-even rent $1,219

Max offer price $160,000

Occupancy floor 72%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 N Wright St Raeford, NC	3.0	2.0	1585	$1,550	$0.98	14d	1	0.43mi
211 N Roberts St Raeford, NC	2.0	1.0	965	$1,475	$1.53	23d	1	0.51mi
110 E 7th Ave Raeford, NC	2.0	2.0	1064	$1,200	$1.13	14d	1	1.06mi
125 Burgess Ln Raeford, NC	3.0	2.5	1460	$1,600	$1.10	23d	1	1.22mi
122 Sherman Ct Unit 122 Raeford, NC	3.0	2.5	1400	$1,600	$1.14	23d	1	1.25mi
916 Stevens St Raeford, NC	3.0	2.5	1646	$1,900	$1.15	23d	1	1.37mi

Listing history 6 events

1. 2026-05-30
   status $160,000 Pending 42 DOM
2. 2026-05-17
   price $160,000
3. 2026-04-17
   listed $170,000 Active
4. 2013-11-01
   soldstatus $75,000
5. 2013-10-31
   soldstatus $75,000 460-char remark

   Show marketing remark (460 chars)

   Property sold 'AS IS, WHERE IS WITH ALL FAULTS'. House has Living room and Dining room combination. House has 'Concrete Driveway'. *** PRICE REDUCED $10,000 *** Seller will pay up to $2,000 in closing costs Turn Right onto Cole Avenue (Just past W Central Avenue and a CVS Pharmacy is on the corner) go 0.2 miles. Take the 1st Right onto College Drive; 518 College Drive is 0.3 miles on the right (If you reach Diehl Street you've gone about 0.1 mile too far).

6. 2013-04-30
   listed $75,000 460-char remark

   Show marketing remark (460 chars)

   Property sold 'AS IS, WHERE IS WITH ALL FAULTS'. House has Living room and Dining room combination. House has 'Concrete Driveway'. *** PRICE REDUCED $10,000 *** Seller will pay up to $2,000 in closing costs Turn Right onto Cole Avenue (Just past W Central Avenue and a CVS Pharmacy is on the corner) go 0.2 miles. Take the 1st Right onto College Drive; 518 College Drive is 0.3 miles on the right (If you reach Diehl Street you've gone about 0.1 mile too far).

ⓘ 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: $688 · $57/mo
• Projected year-2 tax: $1,312 · $109/mo
• Expected delta: +$624/yr (+$52/mo · 90.6%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $20,762
• − Mortgage interest: −$8,962
• − Property taxes: −$688
• − Insurance: −$800
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$4,655
• Taxable income: $2,334
• Est. tax owed @ 24.0%: −$560
• After-tax cash flow: $4,284/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

• Census place: Raeford, NC
• 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

+113.3% since first listed

5 events — show timeline

• 2026-05-17 Price Changed $160,000 LPRMLS
• 2026-04-17 Listed $170,000 LPRMLS
• 2013-11-01 Sold (Public Records) $75,000 Public Records
• 2013-10-31 Sold (MLS) $75,000 Hive MLS
• 2013-04-30 Listed $75,000 Hive MLS

Property tax history

+0.8%/yr

Latest (2025): $688 · +0.0% YoY. Source: county tax records.