629 Tulip Ct · Stedman, NC 28391

$265,000

3 bd · 3.0 ba · 1,624 sqft · SingleFamily public records · 6 Days on market

Built 2004 0.37 ac lot Est $257k · at est.

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Why this score? — see what drove the D+ 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 +12.4/30.0
• Appreciation +10.0/10.0
• ARV discount +6.0/15.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located in the beautiful Stedman area. Corner lot, new carpet lots of space a must see. Awesome back yard with pool and plenty of space for entertaining.

Key facts

• Bonus room
• Granite countertops
• Corner lot

Tags

• BONUS ROOM
• CORNER LOT
• ABUNDANT CABINET SPACE
• GRANITE COUNTERTOPS
• STAINLESS STEEL REFRIGERATOR
• PRIVATE FENCED BACKYARD

Property features AI

Finance

• Other: Zoned R10 - Residential District; Located in the STEDMAN subdivision

Exterior

• Parking: Attached carport; 2 covered parking spaces (2-car garage present)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Vinyl siding construction
• Construction: Vinyl siding exterior; One and one-half level design
• Exterior features: Fenced yard with privacy fencing; In-ground pool; Level topography; Corner lot

Interior

• Kitchen: Refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Eat-in kitchen; Fireplace with propane fuel

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-41 ($-495/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (20.8% below list).
• Recommended offer: $210k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.3% in Stedman — 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 71/100 on livability (#107 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Cumberland County Schools (urban): math 32% / reading 41% proficiency, ranked #126 of 178 in NC (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stedman Elementary (math 57% / reading 52%, grade C, #302 of 1,410 statewide, top 23%, 271 students, 99% FRL); Mac Williams Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 1,151 students, 58% FRL); Cape Fear High (math 75% / reading 47%, grade C+, #202 of 535 statewide, top 39%, 1,529 students, 50% FRL).
• Zoned-school proficiency averages 54% at this address vs 36% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Cumberland County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 33 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,125 units permitted in Cumberland County in 2024 (104 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,000 (20.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.79% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $256,592
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 Mill Bay Dr	0.11mi	3/2.0	1,573 (-3%)	2mo	$213,750	$136	84
6217 Yorkie (lot 72) Ct	0.21mi	3/2.0	1,543 (-5%)	4mo	$298,900	$194	74
620 Tulip Ct	0.05mi	3/2.0	1,415 (-13%)	1mo	$238,000	$168	72
6204 Azelia Dr	0.18mi	4/2.0 (+1)	1,618 (-0%)	15mo	$250,000	$155	69
6251 Azelia Dr	0.10mi	4/2.0 (+1)	1,671 (+3%)	20mo	$263,500	$158	65
610 Bird Nest Ct	0.31mi	3/2.0	1,648 (+2%)	16mo	$250,000	$152	65
713 Mill Bay Dr	0.09mi	3/2.0	1,473 (-9%)	15mo	$244,000	$166	64
6301 Emerson Grove (lot 1) Ct	0.19mi	3/2.0	1,774 (+9%)	10mo	$314,900	$178	63
6213 Yorkie (lot 71) Ct	0.22mi	3/2.0	1,774 (+9%)	9mo	$314,900	$178	63
605 Bird Nest Ct	0.30mi	3/2.0	1,742 (+7%)	19mo	$250,000	$144	54
921 Fred Hall Rd	0.59mi	3/2.0	1,573 (-3%)	22mo	$229,000	$146	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 2.91×
• Total profit: $141,651
• Equity at exit: $238,733

10-year hold

• IRR: 21.1%
• Equity multiple: 6.65×
• Total profit: $419,106
• Equity at exit: $514,837

Cash invested: $74,200 (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 28391

• Home prices YoY: 16.1%
• Active inventory: 33
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$200 /mo · $2,402/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-41

Break-even live

Break-even rent $2,152

Max offer price $257,715

Occupancy floor 97%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6205 Yorkie Ct Stedman, NC	4.0	3.0	2069	$2,100	$1.01	13d	1	0.27mi

Listing history 10 events

1. 2026-05-19
   listed $265,000 Active
2. 2022-08-30
   soldstatus $250,000 153-char remark

   Show marketing remark (153 chars)

   Located in the beautiful Stedman area. Corner lot, new carpet lots of space a must see. Awesome back yard with pool and plenty of space for entertaining.

3. 2022-08-30
   soldstatus $250 Closed 153-char remark

   Show marketing remark (153 chars)

   Located in the beautiful Stedman area. Corner lot, new carpet lots of space a must see. Awesome back yard with pool and plenty of space for entertaining.

4. 2022-08-30
   soldstatus $250,000

   Show marketing remark (153 chars)

   Located in the beautiful Stedman area. Corner lot, new carpet lots of space a must see. Awesome back yard with pool and plenty of space for entertaining.

5. 2022-08-09
   status Pending 153-char remark

   Show marketing remark (153 chars)

   Located in the beautiful Stedman area. Corner lot, new carpet lots of space a must see. Awesome back yard with pool and plenty of space for entertaining.

6. 2022-08-05
   price $250,000 153-char remark

   Show marketing remark (153 chars)

   Located in the beautiful Stedman area. Corner lot, new carpet lots of space a must see. Awesome back yard with pool and plenty of space for entertaining.

7. 2022-07-25
   listed $250,000 153-char remark

   Show marketing remark (153 chars)

   Located in the beautiful Stedman area. Corner lot, new carpet lots of space a must see. Awesome back yard with pool and plenty of space for entertaining.

8. 2022-07-25
   listed $245,000 Active 153-char remark

   Show marketing remark (153 chars)

   Located in the beautiful Stedman area. Corner lot, new carpet lots of space a must see. Awesome back yard with pool and plenty of space for entertaining.

9. 2005-06-07
   soldstatus $120,000
10. 2003-04-02
    soldstatus $13,000

ⓘ 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: $2,402 · $200/mo
• Projected year-2 tax: $2,402 · $200/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 52% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $25,200
• − Mortgage interest: −$14,844
• − Property taxes: −$2,402
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$7,709
• Taxable loss: −$5,112
• Est. tax savings @ 24.0%: +$1,227
• After-tax cash flow: $732/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: Cumberland County Schools
• NCES district ID: 3700011
• Math proficiency: 32% ▼ -2.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $44,168
• Composite: 31.0/100
• National rank: #6096
• State rank: #126 of 178 in NC

Livability — Stedman

• Score: 71/100
• State rank: #107
• US rank: #6799

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stedman, NC
• Population (ZIP): 5,956

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 330,855 people
• By 2030: 333,523 · +0.8%
• By 2040: 335,583 · +1.4%
• By 2050: 335,325 · +1.4%
• By 2075: 342,853 · +3.6%
• By 2100: 340,698 · +3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 12% Two or more races 7% Hispanic / Latino 2% Native American 2%
• Common ancestry: Slovak 4% Serbian 2% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cumberland

• 2024 margin: D (+13.4) · D 56.1% · R 42.7% · Other 1.2%
• 2008→2024 swing: -4.3pp toward R · 2008: 17.7pp · 2024: 13.4pp
• All cycles: 2024: D+13.4 2020: D+16.6 2016: D+16.0 2012: D+19.7 2008: D+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 46.06%
• Current HPI: 331.7099
• Rent YoY: —
• Metro: —
• 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

+1938.5% since first listed

10 events — show timeline

• 2026-05-19 Listed $265,000 LPRMLS
• 2022-08-30 Sold (Public Records) $250,000 Public Records
• 2022-08-30 Sold (MLS) $250 TMLS
• 2022-08-30 Sold (MLS) $250,000 LPRMLS
• 2022-08-09 Pending — TMLS
• 2022-08-05 Price Changed $250,000 TMLS
• 2022-07-25 Listed $245,000 TMLS
• 2022-07-25 Listed $250,000 LPRMLS
• 2005-06-07 Sold (Public Records) $120,000 Public Records
• 2003-04-02 Sold (Public Records) $13,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,402 · +24.0% YoY. Source: county tax records.