Score
0Fayetteville, NC
1601 Ramsey St
145K
2 beds
2 baths
1,608 sqft
2 bd • 2 ba • 1,608 sf
Educational Use Only — NOT an appraisal or professional advice. — NOT professional advice. See terms
List Price
$144,500
Price/Sq.Ft
$90
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 1601 Ramsey St, Fayetteville, NC 28301 offers exceptional value at $89.86/sqft, which is approximately 40% below the average price per square foot in Fayetteville (typically ranging from $120-$150/sqft). With 1,608 sqft, it's about 20% larger than the average 2-bedroom home in the area (usually around 1,300 sqft). Its location on Ramsey St, a major thoroughfare, suggests good accessibility. The property's price point of $144,500 is well below the median home value in Fayetteville (approximately $200,000), making it potentially attractive for first-time homebuyers or investors. Based on local rental rates, a 2-bedroom property could yield around $1,037/month, potentially offering a gross rental yield of 8.6% annually.
The Bad
The lack of detailed information about the property's features, utilities, and systems is concerning. The unknown build year raises questions about potential maintenance issues and outdated systems. The property's location on a major street (Ramsey St) may result in higher noise levels and traffic. The median income of $30,660 in the area is relatively low, which could impact future appreciation and the quality of potential renters. The property's price, while low, may indicate needed repairs or updates not visible from the exterior photo.
The Ugly
The overgrown vegetation visible in the image suggests potential neglect and could be hiding structural issues or pest problems. The yellow poles in the image might indicate utility work or property line disputes. The lack of visible parking or garage in the image is a significant drawback. Given Fayetteville's susceptibility to hurricanes and tropical storms, the dense tree coverage poses a risk of damage during severe weather events. The property's location in a lower-income area (based on median income data) may lead to higher crime rates and lower property appreciation compared to other parts of Fayetteville.
Who is this property for?
These details are presented solely for educational purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for investors looking for a high potential rental yield in a market with steady demand due to the nearby military base. It may also appeal to first-time homebuyers with limited budgets who are willing to put in sweat equity. The property could be ideal for military personnel using a VA loan, as the price point is well within typical VA loan limits. Given its size and bedroom count, it could work well for small families or couples.
Not For
This property is not suitable for buyers seeking a move-in ready home or those unwilling to undertake potentially significant renovations. It's not ideal for larger families needing more than two bedrooms. Buyers looking for a quiet, suburban environment may find the location on a busy street unappealing. Those seeking luxury amenities or modern features will likely be disappointed. Risk-averse investors or those looking for guaranteed appreciation in a high-end market should look elsewhere.
Demographics
Area Median Income
$30,660
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (2 bed)
Get a detailed estimate on Zillow$1,037
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$144,500
Price/sqft
$90
Layout
2 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$124,833
15.8%
Your price is 15.8% above average
Median Price
$115,000
25.7%
Based on 6 recent sales
Price per Sq.Ft
$88
2.1%
Your price is 2.1% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 1905 Cascade Street, Fayetteville, NC 28301 | $179,500 | 1,538 | 3 | 2 | $11729.9% | 10/31/2024 |
| 1905 Cascade Street, Fayetteville, NC 28301 | $179,500 | 1,517 | 3 | 2 | $11831.7% | 10/31/2024 |
| 2030 Corrinna Street, Fayetteville, NC 28301 | $115,000 | 1,344 | 3 | 2 | $864.8% | 11/8/2024 |
| 2030 Corrinna Street, Fayetteville, NC 28301 | $115,000 | 1,344 | 3 | 2 | $864.8% | 11/8/2024 |
| 125 Brainerd Avenue, Fayetteville, NC 28301 | $80,000 | 1,318 | 3 | 1 | $6132.5% | 11/20/2024 |
| 125 Brainerd Avenue, Fayetteville, NC 28301 | $80,000 | 1,318 | 3 | 1 | $6132.5% | 11/20/2024 |
1905 Cascade Street, Fayetteville, NC 28301
Price: $179,500
Sq.Ft: 1,538
Beds/Baths: 3/2
$/Sq.Ft:
$11729.9%
Sale Date: 10/31/2024
1905 Cascade Street, Fayetteville, NC 28301
Price: $179,500
Sq.Ft: 1,517
Beds/Baths: 3/2
$/Sq.Ft:
$11831.7%
Sale Date: 10/31/2024
2030 Corrinna Street, Fayetteville, NC 28301
Price: $115,000
Sq.Ft: 1,344
Beds/Baths: 3/2
$/Sq.Ft:
$864.8%
Sale Date: 11/8/2024
2030 Corrinna Street, Fayetteville, NC 28301
Price: $115,000
Sq.Ft: 1,344
Beds/Baths: 3/2
$/Sq.Ft:
$864.8%
Sale Date: 11/8/2024
125 Brainerd Avenue, Fayetteville, NC 28301
Price: $80,000
Sq.Ft: 1,318
Beds/Baths: 3/1
$/Sq.Ft:
$6132.5%
Sale Date: 11/20/2024
125 Brainerd Avenue, Fayetteville, NC 28301
Price: $80,000
Sq.Ft: 1,318
Beds/Baths: 3/1
$/Sq.Ft:
$6132.5%
Sale Date: 11/20/2024
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