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OVERVIEW
5205 Palmetto Ln, Fayetteville, NC 28304
Priced at just $82/sq ft, this 3-bed, 2-bath single family home in Fayetteville’s Douglas Byrd neighborhood sits well below both the as-is and renovated comp averages in the immediate area. The home is currently occupied but will be vacant at closing, giving a buyer a clean handoff with no tenant transition to manage. At 0.35 acres, the lot is notably larger than most comps in the area, and the property includes a detached shed/workshop plus a 1-car carport — extra utility that’s hard to find at this price point. Located minutes from Cape Fear Valley Medical Center and within a reasonable commute of Fort Liberty, the area draws steady rental demand from both hospital staff and military-adjacent tenants.
Comp Avg (Sold): ~$220,500 (~$153/sq ft) | For Sale Avg: ~$215,000
Rent Avg: ~$1,450/mo | Gross Yield at Asking: ~13.9%
DETAILS
Type: Single Family
Bedrooms / Baths: 3 bed / 2 bath
Living Area: 1,520 sq ft
Year Built: 1959
Lot Size: 0.35 acres (15,246 sq ft)
Zoning: SF10
Utilities: City Water & City Sewer
Occupancy at Closing: Will be vacant at closing — currently occupied
Closing Date: 07/06/26
Closing Attorney: Atlas Orange
Tax Value: $124,465
Parcel ID: 0416-04-1927
Annual Taxes: $2,061
CONDITION
- 1-car carport
- Detached shed / workshop
- Roof age: 10–15 years
- HVAC age: 10–15 years
- Property sold as-is
COMPARABLE SALES
Renovated Comps:
5425 S Sumac Cir — 1,668 sq ft — $224,000 ($134/sq ft) — Sold
1718 Shiloh Dr — 1,555 sq ft — $230,000 ($148/sq ft) — Sold
1953 Glenwick Dr — 1,367 sq ft — $230,000 ($168/sq ft) — Sold
5601 Birch Rd — 1,436 sq ft — $219,000 ($153/sq ft) — Sold
5233 Pala Verde Dr — 1,251 sq ft — $215,000 ($172/sq ft) — Sold
1104 Juniper Dr — 1,448 sq ft — $205,000 ($142/sq ft) — Sold
As-Is Comps:
4805 Ellsworth Dr — 1,366 sq ft — $115,000 ($84/sq ft) — Sold as-is, full gut remodel needed
1921 Shiloh Dr — 1,264 sq ft — $146,000 ($115/sq ft) — Sold as-is
As-Is Floor: ~$152,000 (~$100/sq ft) | ARV (Renovated Avg): ~$220,500 (~$153/sq ft) | Our Price: $125,000 ($82/sq ft) | Spread to ARV: ~$95,500
This deal pencils for both flip and hold exits. At $82/sq ft against a renovated comp average of $153/sq ft, there’s roughly $95K of spread to ARV even before factoring in the larger-than-average 0.35-acre lot. For a buy-and-hold investor, a ~13.9% gross yield at asking is a standout number in this market.
DISCLAIMER — Please Read Before Submitting an Offer
Assignment of Contract
This is an assignment of contract. A legally binding purchase agreement with a memorandum has been executed with the Seller, granting this company exclusive rights to purchase the property. We are not brokers or realtors and are not representing ourselves as such. We do not represent the owner.
Do not contact the Seller directly. Any attempt to contact the owner, interfere with, or circumvent our active contract will result in legal action. This property is not to be re-marketed under any circumstances without our explicit written consent and the execution of a joint venture agreement.
Due Diligence
Buyers are responsible for performing their own due diligence. We are not licensed agents. Please consult appropriate legal or professional counsel before submitting an offer.
Offer & Deposit Terms
A minimum $5,000 non-refundable deposit is required within 24 hours of signing to secure the deal. Closing will occur as quickly as possible, but no longer than 30 calendar days. Buyer pays all closing costs — closing costs are NOT included in the asking price. Taxes will be prorated and split between parties. $495 transaction fee payable to Bright Home Offer LLC. Closing will be conducted with our closing attorney.
As-Is Terms
This property is offered as-is, where-is, with no warranties. By submitting an offer, you are accepting these terms.
No repairs or improvements will be made prior to closing. No clean-out or clean-up of any kind will be completed. Property will not be broom clean at closing.
Realtors & Wholesalers
If you are working with a client and wish to receive a commission or fee, please note that the wholesale price does not include your compensation. You may either negotiate your commission/fee directly with your client, separate from the wholesale price, or adjust the wholesale price upward to include your fee.
If you’d like to be compensated by us at or outside of closing, please reach out or include those terms in your offer.