CashFlowRE
Sign in Sign up
3404 Sedge Dr #3
D- Composite 35.99
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).

  • ARV discount +9.1/15.0
  • Cash flow +7.4/30.0
  • Schools +4.8/10.0
  • Condition / age +4.0/5.0
  • Livability +3.9/5.0
  • Rent growth +2.9/5.0
  • 1% rule +2.5/10.0
  • DSCR +1.6/10.0
  • Appreciation +0.0/10.0

$220,990

3404 Sedge Dr #3 · Greenville, NC 28590
3 bd · 2.5 ba · 1,418 sqft · Condo · 135 Days on market
Built 2026 Good condition Garage $156/sqft · at area comps Est $229k · at est. $58/mo HOA · 4% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

MOVE-IN READY! Come tour 3404 Sedge Dr. 3! One of our new townhomes at The Townes at Ridgewood Farms, located in Winterville, NC. The Pearson is a two-story townhome showcased at The Townes at Ridgewood Farms located in Winterville, North Carolina. With its modern curb appeal and eye-catching facade, the Pearson is sure to turn heads. The Pearson also features a 1-car garage, adding convenience and style, making it one of our most sought-after townhome floorplans. As you step inside this 3-bedroom, 2.5-bath townhome you'll discover 1,418 square feet of comfortable living space.

Key facts

  • Eye-catching facade
  • Granite countertops
  • Tile backsplash

Tags

MODERN CURB APPEALEYE-CATCHING FACADEOPEN-CONCEPT LAYOUTSHAKER-STYLE CABINETSGRANITE COUNTERTOPSTILE BACKSPLASH

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/2.5-bath condo listed at $221k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-284 ($-3k/yr) — negative.
  • To cash-flow at today's rent, offer at most $180k (18.6% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (25.4% below list).
  • Recommended offer: $165k (25.4% below list) — sets the bar for 1% rule.
  • Cap rate 4.8% vs local median 3.9% in Greenville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

  • Location reads 77/100 on livability (#30 in NC, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, employment F.
  • Pitt County Schools (rural): math 41% / reading 44% proficiency, ranked #100 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
  • Zoned schools: Ridgewood Elementary (math 50% / reading 57%, grade C, #335 of 1,410 statewide, top 24%, 722 students, 47% FRL); A G Cox Middle (math 37% / reading 49%, grade D-, #191 of 475 statewide, top 41%, 865 students, 52% FRL); South Central (math 42% / reading 51%, grade D-, #344 of 535 statewide, top 64%, 1,675 students, 55% FRL) — zoned schools at 51% FRL track the district average.
  • Market conditions: Rents rising (+1.4%/yr); 421 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,300 units permitted in Pitt County in 2024 (204 in 5+ unit buildings).

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
  • Pitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

  • It's been on market 135 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
Recommended offer $164,751 (25.4% 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. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
  3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
  5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
  8. 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?
  9. 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.
  10. 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.
  11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

1% rule
0.75%
Cap rate
4.75%
Cash-on-cash
-5.50%
DSCR
0.76
GRM
11.2

CMA / ARV

ARV (median comp)
$229,115
List price
$220,990
Delta
-3.55%
Verdict
FAIR
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
3400 Sunstone Way #1 0.03mi 3/2.5 1,418 (0%) 0mo $238,000 $168 98
3400 Sunstone Way #6 0.03mi 3/2.5 1,418 (0%) 1mo $238,090 $168 98
3400 Sunstone Way #5 0.03mi 3/2.5 1,418 (0%) 1mo $229,990 $162 98
3803 Sterling Pointe Dr Unit Q1 0.41mi 3/2.5 1,401 (-1%) 0mo $122,000 $87 78
3943 Sterling Pointe Dr Unit Rrr4 0.65mi 3/2.5 1,453 (+2%) 0mo $127,000 $87 66
2128 Cherrytree Ln 1.45mi 3/2.0 1,415 (-0%) 1mo $259,000 $183 62
1412 Green Ridge Dr 0.17mi 4/2.0 (+1) 1,764 (+24%) 0mo $317,000 $180 60
1909 Charity Ln 1.25mi 3/2.0 1,385 (-2%) 1mo $249,000 $180 58
1524 Stone Wood Dr 0.20mi 4/2.0 (+1) 1,764 (+24%) 0mo $314,000 $178 58
2537 Rhinestone Dr 1.36mi 3/2.0 1,502 (+6%) 1mo $310,000 $206 52
3128 Ruth Ct 0.94mi 3/2.0 1,510 (+6%) 0mo $249,000 $165 52
4028 Lucerne Ct Unit A 1.04mi 3/3.0 1,741 (+23%) 0mo $220,000 $126 38

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

Projected returns pro-forma

-3.0% appreciation · 1.43% rent growth · sell at horizon

5-year hold
IRR
-27.5%
Equity multiple
0.09×
Total profit
$-56,380
Equity at exit
$32,950
10-year hold
IRR
-32.8%
Equity multiple
-0.33×
Total profit
$-82,302
Equity at exit
$19,107

Cash invested: $61,877 (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.

Active competition Active MLS

For sale now
1 active · 2 under contract
Median asking
$199,900 ($119/sqft)
Median days on market
129 d
This list price
100% of active listings are priced below it
ARV vs active asking
+35.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28590

Home prices YoY
-23.7%
Rents YoY
1.4%
Active inventory
421
Price-to-rent
11.2×

Monthly cashflow live

Estimated rent
$1,648 high interval (Pro) →
Mortgage (P&I)
$1,159
Tax est. 1.5%
$276 /mo · $3,315/yr
Insurance
$92
HOA
$58
Vacancy / Maint / Mgmt
$346
Net cashflow
$-284

Break-even live

Break-even rent $2,007
Max offer price $179,941
Occupancy floor

Sensitivity live

Price -10% $-131 -5% $-207 +0% $-284 +5% $-360 +10% $-436
Rent -10% $-414 -5% $-349 +0% $-284 +5% $-219 +10% $-154
Rate -1.0pp $-172 -0.5pp $-227 base $-284 +0.5pp $-341 +1.0pp $-399

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
$55,248
Closing costs
$6,630
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
3400 Sunstone Way #5 Winterville, NC 3.0 2.5 1491 $1,900 $1.27 4d 1 0.02mi
3405 Sedge DR #3 Winterville, NC 3.0 2.5 1429 $1,975 $1.38 5d 1 0.02mi
3610 Sedge DR Unit A3 Winterville, NC 3.0 2.5 1461 $1,700 $1.16 6d 1 0.13mi
3800 E Vancroft Cir Unit N3 Winterville, NC 3.0 2.5 1324 $1,250 $0.94 6d 1 0.29mi
1717 Stone Wood Dr Winterville, NC 3.0 2.0 1689 $1,850 $1.10 6d 1 0.30mi
3830 Sterling Pointe Dr Unit P7 Winterville, NC 2.0 1.5 1042 $950 $0.91 4d 1 0.47mi
3818 Sterling Pointe Dr Unit J1 Winterville, NC 2.0 1.5 1041 $1,000 $0.96 6d 1 0.48mi
3923 Sterling Pointe Dr Winterville, NC 2.0 1.5 1042 $975 $0.94 6d 1 0.62mi
202 Kristin Dr Unit A Greenville, NC 2.0 1.5 1054 $925 $0.88 6d 1 0.65mi
202 Kristin Dr Unit A Greenville, NC 2.0 1.5 1054 $925 $0.88 4d 1 0.65mi
202 Kristin Dr Unit A Greenville, NC 2.0 1.5 1054 $925 $0.88 0d 1 0.65mi
3909 Sterling Pointe Dr Winterville, NC 2.0 1.5 1041 $1,000 $0.96 5d 1 0.66mi
3909 Sterling Pointe Dr Winterville, NC 2.0 1.5 1041 $1,000 $0.96 2d 1 0.66mi
3987 Sterling Pointe Dr Winterville, NC 3.0 2.5 1453 $1,300 $0.89 0d 1 0.69mi
3987 Sterling Pointe Dr Winterville, NC 3.0 2.5 1453 $1,300 $0.89 6d 1 0.69mi
3917 Sterling Pointe Dr Winterville, NC 2.0 1.5 1042 $1,200 $1.15 117d 1 0.70mi
209 Allendale Dr Greenville, NC 3.0 2.0 1801 $1,650 $0.92 3d 1 0.70mi
3955 Sterling Pointe Dr Winterville, NC 2.0 1.5 1041 $995 $0.96 117d 1 0.71mi
203 Shiloh Dr Unit E Greenville, NC 2.0 1.5 1000 $1,130 $1.13 117d 1 0.72mi
3979 Sterling Pointe Dr Unit MMM3 Winterville, NC 2.0 2.5 1453 $1,050 $0.72 117d 1 0.73mi
3214 Summer Pl #8 Greenville, NC 2.0 1.0 1200 $999 $0.83 6d 1 0.80mi
301 Alice Dr Unit B Greenville, NC 2.0 1.0 918 $945 $1.03 2d 1 0.81mi
301 Alice Dr Unit B Greenville, NC 2.0 1.0 918 $945 $1.03 5d 1 0.81mi
3909 Granada Dr Unit B Winterville, NC 3.0 3.0 1549 $1,750 $1.13 6d 1 0.94mi
205 South Pointe Dr Unit B Winterville, NC 3.0 2.5 1584 $1,900 $1.20 117d 1 0.94mi
1500 Manning Forest Dr Unit A4 Greenville, NC 2.0 1.5 1094 $1,300 $1.19 6d 1 0.96mi
1548 Manning Forest Dr Unit M7 Greenville, NC 2.0 1.5 1094 $1,300 $1.19 109d 1 0.98mi
4009 Lucerne Ct Unit A Winterville, NC 3.0 2.5 1632 $1,595 $0.98 0d 1 1.03mi
4009 Lucerne Ct Unit A Winterville, NC 3.0 2.5 1632 $1,595 $0.98 3d 1 1.03mi
4009 Lucerne Ct Unit A Winterville, NC 3.0 2.5 1632 $1,595 $0.98 6d 1 1.03mi
207 Belvedere Dr Greenville, NC 3.0 2.0 1695 $2,300 $1.36 117d 1 1.05mi
317 S Pointe Dr Unit A Winterville, NC 3.0 2.5 1506 $1,550 $1.03 6d 1 1.06mi
4033 Lucerne Ct Unit A Winterville, NC 3.0 2.5 1506 $1,550 $1.03 6d 1 1.08mi
2044 Cambria Dr Unit A Greenville, NC 3.0 2.0 1357 $1,685 $1.24 6d 1 1.14mi
1628 Cambria Dr Unit A Greenville, NC 3.0 2.5 1775 $1,875 $1.06 6d 1 1.19mi
2029 Cambria Dr Unit B Greenville, NC 3.0 2.5 1584 $1,600 $1.01 6d 1 1.19mi
2029 Bugle Dr Winterville, NC 3.0 2.0 1183 $1,700 $1.44 6d 1 1.21mi
409 Ophelia WAY Winterville, NC 2.0 2.5 1852 $2,170 $1.17 0d 11 1.22mi
2015 Leighton Dr Unit B Greenville, NC 3.0 2.5 1707 $1,850 $1.08 4d 1 1.25mi
1625 Brook Hollow Dr Unit B Greenville, NC 3.0 3.5 1766 $1,800 $1.02 6d 1 1.29mi

Property features AI

Finance

HOA & community
Homeowners association with annual fee of $700 (about $58.33/month)Association maintains groundsSubdivision: Ridgewood FarmsCommunity sidewalks

Exterior

Parking
Attached front-facing garageOne garage parking spaceConcrete drivewayGarage door opener
Security
Smoke detector(s)
Utilities
Public waterSewer availableWater availableElectric service
Home design
TownhouseTwo storiesEntry level: 1New constructionFacing direction: See remarks
Construction
Brick veneer, vinyl siding, and stone veneer with frame constructionShingle roofSlab foundationBuilt as new construction
Exterior features
PatioLandscaped yardSidewalksHas view

Interior

Kitchen
Electric ovenElectric rangeGas range not listedDishwasherMicrowaveGarbage disposalRefrigeratorKitchen islandPantryElectric water heater
Flooring
CarpetVinyl
Bathrooms
Two full bathroomsOne half bathroom
Heating & cooling
Central air conditioningElectric heatingHeat pump
Interior features
Walk-in closetsVaulted and high ceilingsKitchen islandPantryWindow coveringsInsulated windowsENERGY STAR qualified appliancesSmoke detector(s)Smart technologyAccessible full bath
Laundry & utility
Washer hookupWasher includedDryer includedLaundry closet

HOA detail $58/mo · $696/yr condo

Assessments
None detected in remarks — confirm with the listing agent.

Listing history 50 events

  1. 2026-09-24
    days on market $220,990 Active 135 DOM
  2. 2026-09-24
    days on market $220,990 Active 134 DOM
  3. 2026-09-22
    days on market $220,990 Active 133 DOM
  4. 2026-09-21
    days on market $220,990 Active 132 DOM
  5. 2026-09-20
    days on market $220,990 Active 131 DOM
  6. 2026-09-18
    days on market $220,990 Active 129 DOM
  7. 2026-09-17
    days on market $220,990 Active 128 DOM
  8. 2026-09-16
    days on market $220,990 Active 127 DOM
  9. 2026-09-15
    days on market $220,990 Active 126 DOM
  10. 2026-09-14
    days on market $220,990 Active 125 DOM
  11. 2026-09-13
    days on market $220,990 Active 124 DOM
  12. 2026-09-12
    days on market $220,990 Active 123 DOM
  13. 2026-09-11
    pricedays on market $220,990 Active 122 DOM
  14. 2026-09-05
    days on market $230,990 Active 116 DOM
  15. 2026-09-04
    days on market $230,990 Active 115 DOM
  16. 2026-09-03
    days on market $230,990 Active 114 DOM
  17. 2026-08-30
    days on market $230,990 Active 110 DOM
  18. 2026-08-29
    days on market $230,990 Active 109 DOM
  19. 2026-08-28
    days on market $230,990 Active 108 DOM
  20. 2026-08-27
    days on market $230,990 Active 107 DOM
  21. 2026-08-25
    days on market $230,990 Active 105 DOM
  22. 2026-08-24
    days on market $230,990 Active 104 DOM
  23. 2026-08-23
    days on market $230,990 Active 103 DOM
  24. 2026-08-22
    days on market $230,990 Active 102 DOM
  25. 2026-08-21
    days on market $230,990 Active 101 DOM
  26. 2026-08-20
    days on market $230,990 Active 100 DOM
  27. 2026-08-19
    days on market $230,990 Active 99 DOM
  28. 2026-08-18
    days on market $230,990 Active 98 DOM
  29. 2026-08-17
    days on market $230,990 Active 97 DOM
  30. 2026-08-16
    days on market $230,990 Active 96 DOM
  31. 2026-08-15
    days on market $230,990 Active 95 DOM
  32. 2026-08-15
    days on market $230,990 Active 94 DOM
  33. 2026-08-13
    days on market $230,990 Active 93 DOM
  34. 2026-08-12
    days on market $230,990 Active 92 DOM
  35. 2026-08-11
    days on market $230,990 Active 91 DOM
  36. 2026-08-10
    days on market $230,990 Active 90 DOM
  37. 2026-08-09
    days on market $230,990 Active 89 DOM
  38. 2026-08-08
    days on market $230,990 Active 88 DOM
  39. 2026-08-07
    days on market $230,990 Active 87 DOM
  40. 2026-08-06
    days on market $230,990 Active 86 DOM
  41. 2026-08-05
    days on market $230,990 Active 85 DOM
  42. 2026-08-04
    days on market $230,990 Active 84 DOM
  43. 2026-08-03
    days on market $230,990 Active 83 DOM
  44. 2026-07-31
    days on market $230,990 Active 80 DOM
  45. 2026-07-29
    days on market $230,990 Active 78 DOM
  46. 2026-07-27
    days on market $230,990 Active 76 DOM
  47. 2026-07-25
    days on market $230,990 Active 74 DOM
  48. 2026-07-24
    days on market $230,990 Active 73 DOM
  49. 2026-07-23
    days on market $230,990 Active 72 DOM
  50. 2026-07-22
    days on market $230,990 Active 71 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$19,770
− Mortgage interest
−$12,379
− Property taxes
−$3,315
− Insurance
−$1,105
− Repairs & maintenance
−$1,582
− Management
−$1,582
− HOA
−$696
− Depreciation
−$6,429
Taxable loss
−$7,317
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$1,756
After-tax cash flow
$-1,648/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This modern townhome is in excellent condition with no visible repairs needed. It offers a great value with its modern design and location.

Value-add opportunities

  • Both Painting the exterior — Fresh paint can enhance curb appeal and value
  • Both Landscaping improvements — Enhances curb appeal and can attract more buyers
  • Both Add a smart home system — Improves convenience and can add value
F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Ridgewood Elementary C NC #335/1,410 Nat'l #10,846/41,679 Middle A G Cox Middle D- NC #191/475 Nat'l #5,160/14,009 High South Central D- NC #344/535 Nat'l #6,621/17,239

Schools (NCES district)

District
Pitt County Schools
NCES district ID
3700012
Math proficiency
41% ▬ 0.00%
Reading proficiency
44% ▲ 2.00%
Median HH income
$40,631
Composite
35.67/100
National rank
#4877
State rank
#100 of 178 in NC
B Composite livability gradescore 77/100

Livability — Greenville

Score
77/100
State rank
#30
US rank
#2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

County
Pitt County · 194,585 people
City population
115,121
Metro
Greenville, NC
Population (ZIP)
27,471
Household income
$83,880
Rent vs Own
25.2% rent · 74.8% own
Severe rent burden
7% of renters

Population outlook (Pitt County) Hauer SSP2

Today (2025)
194,585 people
By 2030
203,756 · +4.7%
By 2040
220,807 · +13.5%
By 2050
236,614 · +21.6%
By 2075
275,940 · +41.8%
By 2100
300,058 · +54.2%

Race, ethnicity, and origin ACS 2023

Neighborhood character
Diverse neighborhood (Simpson 0.56)
Race & ethnicity
White 58% Black 32% Two or more races 5% Hispanic / Latino 4% Asian 2%
Common ancestry
Italian 3% Serbian 3% Slovak 2%
Foreign-born
6% · Canada, China
Languages at home
92% English-only · Spanish 4% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Pitt

2024 margin
Lean D (+6.0) · D 52.5% · R 46.5% · Other 1.1%
2008→2024 swing
-2.8pp toward R · 2008: 8.8pp · 2024: 6.0pp
All cycles
2024: D+6.0 2020: D+9.4 2016: D+7.4 2012: D+6.7 2008: D+8.8

Not yet ingested

Civics

Price history

1 event — show timeline
  • 2026-05-12 Listed $230,990 Hive MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…