100 L Mcmillian Rd · Raeford, NC 28376

$210,000

3 bd · 2.0 ba · 1,944 sqft · Manufactured public records · 4 Days on market

Built 2000 Est $260k · 19% under ↓ 5% since listing

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Why this score? — see what drove the C+ 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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +4.8/10.0
• 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

Craving a little peace, space, and slower mornings without sacrificing modern updates? This beautifully refreshed country home offers nearly 2,000 sq ft of comfortable living on a spacious lot with the kind of layout and upgrades NC buyers are searching for right now. Updated windows within the last year, new flooring, updated bathrooms, and absolutely no carpet give the home a fresh, move-in ready feel from the moment you walk in. Inside, you’ll love the multiple living spaces, formal dining area, oversized kitchen with island and abundant cabinet storage, plus a cozy den with gas logs and custom built-ins that feels made for holidays, movie nights, and gathering with family. The spa

Key facts

• Updated windows
• New flooring
• Oversized kitchen

Tags

• UPDATED WINDOWS
• NEW FLOORING
• UPDATED BATHROOMS
• MULTIPLE LIVING SPACES
• FORMAL DINING AREA
• OVERSIZED KITCHEN

Property features AI

Finance

• Other: Accessible entrance

Exterior

• Utilities: Spring and well water sources; Holding tank and septic sewer
• Home design: Manufactured / modular home; Residential property; Corner lot; Level topography
• Construction: Vinyl siding; Crawl space foundation; Home warranty included
• Exterior features: Storage; Deck; Covered front porch

Interior

• Kitchen: Refrigerator; Dishwasher; Gas range; Microwave; Kitchen island; Pantry; Eat-in kitchen
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Electric cooling; Ceiling fans
• Interior features: Ceiling fans; Crown molding; Double vanity; Eat-in kitchen; Kitchen island; Pantry; Soaking tub; Vaulted ceilings; Gas-log fireplace in the great room
• Laundry & utility: In-unit laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/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 $206k (1.9% below list).
• Recommended offer: $206k (1.9% below list) — sets the bar for 1% rule.
• Cap rate 8.4% 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 Elementary (math 30% / reading 35%, grade F, #897 of 1,410 statewide, top 64%, 490 students, 98% FRL); 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 99% FRL vs 57% district-wide (42 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 23d 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 37% 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 $6k 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.
• 6 sale attempts since 2y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; moderate 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 $205,919 (1.9% 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. 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.
4. 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.
5. 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: 0.98% ✗
• Cap rate: 8.41%
• Cash-on-cash: 7.55%
• DSCR: 1.34
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $260,496
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
905 Lemont Dr	0.38mi	4/2.5 (+1)	2,052 (+6%)	9mo	$275,000	$134	59

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-12,777
• Equity at exit: $31,312

10-year hold

• IRR: 2.5%
• Equity multiple: 1.17×
• Total profit: $9,957
• Equity at exit: $18,157

Cash invested: $58,800 (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: 8.5×

Monthly cashflow live

• Estimated rent: $2,059 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$68 /mo · $818/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $370

Break-even live

Break-even rent $1,591

Max offer price $210,000

Occupancy floor 77%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 Williford Dr Raeford, NC	4.0	2.5	2128	$2,200	$1.03	23d	1	0.42mi
306 United Rd Raeford, NC	3.0	2.0	1648	$1,900	$1.15	23d	1	0.98mi
187 Declaration Dr Raeford, NC	4.0	2.5	2001	$2,000	$1.00	13d	1	1.03mi
240 Declaration Dr Raeford, NC	4.0	2.5	2122	$2,000	$0.94	21d	1	1.09mi
269 Declaration Dr Raeford, NC	4.0	2.5	2240	$1,990	$0.89	23d	1	1.09mi
113 N Wright St Raeford, NC	3.0	2.0	1585	$1,550	$0.98	13d	1	1.28mi

Listing history 11 events

1. 2026-05-19
   status Pending
2. 2026-05-18
   price $210,000
3. 2026-05-16
   listed $199,900 Active
4. 2026-01-06
   listed $220,000 Active
5. 2024-10-15
   listed $215,000 Active
6. 2024-10-07
   price $215,000
7. 2024-08-21
   status Active
8. 2024-08-10
   status Pending
9. 2024-07-09
   status Active
10. 2024-06-02
    status Pending
11. 2024-05-06
    listed $220,000 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: $818 · $68/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$904/yr (+$75/mo · 110.5%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 76% 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: $24,710
• − Mortgage interest: −$11,763
• − Property taxes: −$818
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,977
• − Management: −$1,977
• − Depreciation: −$6,109
• Taxable income: $1,016
• Est. tax owed @ 24.0%: −$244
• After-tax cash flow: $4,194/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

-4.5% since first listed

11 events — show timeline

• 2026-05-19 Pending — LPRMLS
• 2026-05-18 Price Changed $210,000 LPRMLS
• 2026-05-16 Listed $199,900 LPRMLS
• 2026-01-06 Listed $220,000 LPRMLS
• 2024-10-15 Listed $215,000 LPRMLS
• 2024-10-07 Price Changed $215,000 LPRMLS
• 2024-08-21 Relisted — LPRMLS
• 2024-08-10 Pending — LPRMLS
• 2024-07-09 Relisted — LPRMLS
• 2024-06-02 Pending — LPRMLS
• 2024-05-06 Listed $220,000 LPRMLS

Property tax history

-2.5%/yr

Latest (2025): $818 · +0.0% YoY. Source: county tax records.