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1601 Ramsey St
Score
0
Fayetteville, NC

1601 Ramsey St

145K
2 bd • 2 ba • 1,608 sf

This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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 The unknown build year raises questions about potential maintenance issues and outdated systems.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 entertainment 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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Risk Assessment

Risk Analysis

The unknown build year poses a significant risk of hidden issues with plumbing, electrical, or structural elements. The overgrown vegetation suggests possible foundation issues or pest infestations. The low price point relative to the market average indicates potential major repair needs. Fayetteville's susceptibility to hurricanes and tropical storms presents a flood risk, especially given the property's abundant tree coverage. The area's lower median income could lead to challenges with tenant quality if rented out. Future road expansions on Ramsey St could impact the property's value and livability. The property's condition may make it difficult to obtain traditional financing, limiting the pool of potential buyers for future resale.

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Financials

Monthly Costs
Market Rent (2 bed)

$1,037

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

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

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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