722 Southland Dr · Zebulon, NC 27597

$255,000

3 bd · 2.5 ba · 1,419 sqft · Land · 27 Days on market

Built 2026 2,178 sqft lot $135/mo HOA · 7% of rent ↓ 2% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.5/30.0
• Schools +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Brand new, energy-efficient home ready Jun 2026. Ask about our limited-time incentives! Easily host guests in the open-concept great room and dining area in the 3-bedroom, 2.5-bathroom Bloomfield. Slate cabinets, white quartz countertops, warm taupe EVP flooring with warm grey carpet in our Radiant package. Cadence Meadows Townes offers townhomes with open-concept kitchens, upstairs lofts and luxurious primary suites, all built with our signature energy-efficient features. Located in the Greater Wendell Area and zoned to the desirable Wake County School District, this community offers quick access to I-87 which connects easily to the Triangle area. Planned amenities include a pool, cabana a

Key facts

• Upstairs lofts
• Quick access to i-87
• $135 HOA

Tags

• ENERGY EFFICIENT HOME
• OPEN CONCEPT GREAT ROOM
• OPEN CONCEPT KITCHENS
• UPSTAIRS LOFTS
• LUXURIOUS PRIMARY SUITES
• QUICK ACCESS TO I-87

Property features AI

Finance

• Other: Located in Wake County; Community features include park and sidewalks; public maintained roads
• HOA & community: HOA managed by Elite Management; Monthly HOA fee; HOA covers grounds maintenance; Community amenities include pool, cabana, dog park and jogging path

Exterior

• Parking: Attached garage; 2 garage spaces; 2 open parking spaces (4 total parking spaces)
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected; Underground utilities
• Home design: Townhouse; Two levels; Entry level included in two-level design
• Construction: Built by Meritage Homes (model: Bloomfield); Frame construction with HardiPlank siding; Low-VOC insulation and spray foam insulation
• Exterior features: Covered front porch; Slab foundation; Shingle roof; Lot dimensions approximately 24 x 100; Community curbs, sidewalks, street lights and park

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator; ENERGY STAR qualified appliances; Kitchen island; Pantry; Quartz counters
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump with ENERGY STAR qualified equipment; Central air with ENERGY STAR qualified equipment
• Interior features: Double vanity; Kitchen island; Low-flow plumbing fixtures; Pantry; Quartz counters; Smart camera(s) / recording; Smart home system; Smart thermostat; Walk-in closet(s); Walk-in shower
• Laundry & utility: Laundry room on upper level; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $255k.

Deal economics

• At list price, monthly cash flow is $-433 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (24.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (27.3% below list).
• Recommended offer: $185k (27.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#264 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D+, amenities F, commute F.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wakelon Elementary (math 15% / reading 32%, grade F, #1,160 of 1,410 statewide, top 83%, 578 students, 72% FRL); Zebulon Middle (math 34% / reading 43%, grade F, #244 of 475 statewide, top 53%, 708 students, 68% FRL); East Wake High (math 51% / reading 44%, grade D, #331 of 535 statewide, top 62%, 1,646 students, 62% FRL) — zoned schools average 67% FRL vs 30% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 56% district-wide (-20 pts) — the specific schools serving this property underperform the Wake County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.5%/yr); 671 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 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 $8k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($251k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,340 (27.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 4.25%
• Cash-on-cash: -7.28%
• DSCR: 0.68
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.54% rent growth · sell at horizon

5-year hold

• IRR: -30.7%
• Equity multiple: -0.00×
• Total profit: $-71,476
• Equity at exit: $38,021

10-year hold

• IRR: -42.0%
• Equity multiple: -0.51×
• Total profit: $-107,999
• Equity at exit: $22,048

Cash invested: $71,400 (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 27597

• Home prices YoY: -30.1%
• Rents YoY: 1.5%
• Active inventory: 671
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,853 high
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,825/yr
• Insurance: −$106
• HOA: −$135
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-433

Break-even live

Break-even rent $2,402

Max offer price $192,335

Occupancy floor —

Sensitivity live

Price	-10% $-257	-5% $-345	+0% $-433	+5% $-521	+10% $-609
Rent	-10% $-579	-5% $-506	+0% $-433	+5% $-360	+10% $-287
Rate	-1.0pp $-305	-0.5pp $-368	base $-433	+0.5pp $-499	+1.0pp $-566

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1457 Smokey Mountain Dr Zebulon, NC	3.0	2.0	1281	$1,700	$1.33	6d	1	0.46mi
1322 Sasswood Ln Zebulon, NC	3.0	2.0	1078	$1,689	$1.57	5d	1	0.49mi
192 Westside Cir Zebulon, NC	3.0	2.0	950	$1,200	$1.26	25d	1	0.54mi
1491 Smokey Mountain Dr Zebulon, NC	3.0	2.0	1146	$1,665	$1.45	25d	1	0.55mi
105 Lonesome Wind Way Zebulon, NC	2.0	1.0	996	$1,495	$1.50	25d	1	0.68mi
602 Coventry Dr Zebulon, NC	3.0	2.0	1592	$1,855	$1.17	4d	1	0.76mi
639 Bullhardt Dr Zebulon, NC	3.0	2.0	1596	$1,860	$1.17	25d	1	0.96mi
2403 King Malcolm Ln Zebulon, NC	3.0	2.0	1255	$1,659	$1.32	16d	1	1.01mi
2402 King Malcolm Ln Zebulon, NC	4.0	2.5	1610	$1,800	$1.12	14d	1	1.04mi
2012 Laurel Leaf Rd Zebulon, NC	3.0	2.0	1162	$1,729	$1.49	6d	1	1.05mi
233 W Barbee St Zebulon, NC	3.0	2.0	1389	$1,925	$1.39	25d	1	1.10mi
1218 Braemar Highland Dr Zebulon, NC	3.0	2.5	1815	$1,940	$1.07	5d	1	1.13mi
204 W Barbee St Zebulon, NC	2.0	2.0	1020	$1,500	$1.47	6d	1	1.17mi
1215 Liriope Ln Zebulon, NC	3.0	2.0	1051	$1,745	$1.66	5d	1	1.37mi
851 McKenzie Park Ter Wendell, NC	3.0	2.5	1558	$1,795	$1.15	19d	1	1.38mi
839 McKenzie Park Ter Wendell, NC	3.0	2.5	1588	$1,795	$1.13	12d	1	1.40mi
1001 Laurel Leaf Rd Zebulon, NC	3.0	2.0	1457	$1,889	$1.30	6d	1	1.45mi

HOA detail

• Monthly dues: $135 · $1,620/yr
• Likely covers: pool

Listing history 3 events

1. 2026-04-30
   status Pending
2. 2026-04-17
   price $255,000
3. 2026-04-03
   listed $259,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 6 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,241
• − Mortgage interest: −$14,284
• − Property taxes: −$3,825
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,779
• − Management: −$1,779
• − HOA: −$1,620
• − Depreciation: −$7,418
• Taxable loss: −$9,740
• Est. tax savings @ 24.0%: +$2,338
• After-tax cash flow: $-2,859/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: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Zebulon

• Score: 66/100
• State rank: #264
• US rank: #11505

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zebulon, NC
• County: Wake County · 1,216,256 people
• City population: 30,184
• Metro: Raleigh-Cary, NC
• Population (ZIP): 30,184
• Household income: $84,625
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 592.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Black 24% Hispanic / Latino 15% Two or more races 10%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 4% Slovak 3% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 87% English-only · Spanish 12%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.86%
• Current HPI: 220.7242
• Rent YoY: ▲ 1.54%
• Metro: Raleigh-Cary, NC
• 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

-1.5% since first listed

3 events — show timeline

• 2026-04-30 Pending — TMLS
• 2026-04-17 Price Changed $255,000 TMLS
• 2026-04-03 Listed $259,000 TMLS