Police arrested 39-year-old Charles Lamont Hope at his home on the 900 block of Pedro Drive Tuesday.
Authorities charged Hope with first-degree murder, robbery with a dangerous weapon, and conspiracy.
Joppich's body was discovered on Tally-Ho Drive. Police said he had been shot once in the chest.
Detectives later found Joppich's wallet and other personal items in a trash bin about half a mile from where his body was located.
Police arrested 18-year-old Terrane Dukes Nov. 28. He is being held at the Cumberland County jail without bond.
Joppich, a Vietnam War veteran originally from Germany, was known for his love of wild cats in the Fayetteville area. He also sang in the choir at Westminster Presbyterian Church in Fayetteville.
Fayetteville police said during a press conference Thursday morning that people in the community thought Joppich had a lot of money, and he may have been targeted because of his age.
Detectives said they knew of Joppich, but were unaware that he was homeless until his death. They said they thought he was a volunteer at the Fayetteville Area Operation Inasmuch. Operation Inasmuch is a national nonprofit that involves local church congregations helping the needy in their communities, according to their website.