113 Cornerstone Dr · Beulaville, NC 28518

$145,000

2 bd · 2.5 ba · 992 sqft · SingleFamily public records · 62 Days on market

Built 2012 896 sqft lot Est $175k · 17% under $13/mo HOA · 1% of rent

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Why this score? — see what drove the B- 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 +23.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• Appreciation +6.9/10.0
• 1% rule +5.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Once Cornerstone Village is complete it will have playgrounds and picnic area will be available. This is a lovely 2-story design with two bedrooms each having their own full bath, plus a separate half bath for your guests! Village concept, walk to grocery store and shopping. In town neighborhood features and benefits.

Key facts

• Half bath
• Strong rental demand
• Full bathroom

Tags

• TWO STORY LAYOUT
• PRIVATE BEDROOM SUITES
• FULL BATHROOM
• HALF BATH
• LVP FLOORING
• STRONG RENTAL DEMAND

Property features AI

Finance

• Other: Living area approximately 992; Lot approximately 0.02 acres (about 896 sq ft); County: Duplin
• HOA & community: HOA: Innovative Property Solutions; HOA fee $150 annually (includes grounds maintenance); Not a senior community

Exterior

• Parking: 2 parking spaces (no open parking)
• Utilities: Public water; Public sewer
• Home design: Townhouse; Two levels; Site built
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built on site
• Exterior features: Private maintained road; Maintenance of grounds included by the homeowners association

Interior

• Bedrooms: 2 bedrooms
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Carpet and luxury vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.8% in Beulaville — 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 61/100 on livability (#503 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Duplin County Schools (rural): math 23% / reading 32% proficiency, ranked #153 of 178 in NC (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 54 active listings in the ZIP; 134 units permitted in Duplin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.7% local appreciation)).
• Duplin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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.
• Current owner paid $92k; list at $145k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.02% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.13%
• DSCR: 1.36
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $174,592
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 S Kennedy St	0.33mi	3/1.0 (+1)	1,008 (+2%)	0mo	$177,000	$176	70
421 E Quinn St	0.55mi	2/1.0	988 (-0%)	1mo	$185,000	$187	67
308 W Stanford St	0.10mi	3/1.0 (+1)	1,095 (+10%)	1mo	$87,500	$80	66
215 S Lee Ave	0.32mi	2/1.0	1,080 (+9%)	3mo	$93,000	$86	62
105 Macon Dr	0.39mi	3/2.0 (+1)	1,050 (+6%)	13mo	$212,000	$202	54

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

Projected returns pro-forma

3.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 2.00×
• Total profit: $40,677
• Equity at exit: $71,300

10-year hold

• IRR: 17.9%
• Equity multiple: 3.79×
• Total profit: $113,339
• Equity at exit: $114,881

Cash invested: $40,600 (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 28518

• Home prices YoY: 1.5%
• Active inventory: 54
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,480 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$60 /mo · $719/yr
• Insurance: −$60
• HOA: −$13
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $275

Break-even live

Break-even rent $1,131

Max offer price $145,000

Occupancy floor 76%

Sensitivity live

Price	-10% $357	-5% $316	+0% $275	+5% $234	+10% $193
Rent	-10% $158	-5% $217	+0% $275	+5% $333	+10% $392
Rate	-1.0pp $348	-0.5pp $312	base $275	+0.5pp $237	+1.0pp $199

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: landscaping

Listing history 26 events

1. 2026-06-21
   days on market $145,000 Active 62 DOM
2. 2026-06-19
   days on market $145,000 Active 60 DOM
3. 2026-06-18
   days on market $145,000 Active 59 DOM
4. 2026-06-17
   days on market $145,000 Active 58 DOM
5. 2026-06-16
   days on market $145,000 Active 57 DOM
6. 2026-06-15
   days on market $145,000 Active 56 DOM
7. 2026-06-14
   days on market $145,000 Active 54 DOM
8. 2026-06-13
   days on market $145,000 Active 53 DOM
9. 2026-06-10
   days on market $145,000 Active 51 DOM
10. 2026-06-09
    days on market $145,000 Active 50 DOM
11. 2026-06-08
    days on market $145,000 Active 49 DOM
12. 2026-06-07
    days on market $145,000 Active 48 DOM
13. 2026-06-05
    days on market $145,000 Active 45 DOM
14. 2026-06-03
    days on market $145,000 Active 44 DOM
15. 2026-06-02
    days on market $145,000 Active 43 DOM
16. 2026-06-01
    days on market $145,000 Active 42 DOM
17. 2026-05-31
    days on market $145,000 Active 41 DOM
18. 2026-05-30
    days on market $145,000 Active 40 DOM
19. 2026-04-20
    listed $145,000 Active
20. 2021-04-13
    soldstatus $92,000
21. 2014-11-26
    soldstatus $72,779 319-char remark

    Show marketing remark (319 chars)

    Once Cornerstone Village is complete it will have playgrounds and picnic area will be available. This is a lovely 2-story design with two bedrooms each having their own full bath, plus a separate half bath for your guests! Village concept, walk to grocery store and shopping. In town neighborhood features and benefits.

22. 2014-07-15
    historical
23. 2014-05-23
    listed $80,000
24. 2013-03-21
    historical
25. 2012-05-13
    listed $89,900
26. 2011-10-31
    listed $79,900 319-char remark

    Show marketing remark (319 chars)

    Once Cornerstone Village is complete it will have playgrounds and picnic area will be available. This is a lovely 2-story design with two bedrooms each having their own full bath, plus a separate half bath for your guests! Village concept, walk to grocery store and shopping. In town neighborhood features and benefits.

ⓘ 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: $719 · $60/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$470/yr (+$39/mo · 65.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 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: $17,754
• − Mortgage interest: −$8,122
• − Property taxes: −$719
• − Insurance: −$725
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − HOA: −$156
• − Depreciation: −$4,218
• Taxable income: $973
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $3,067/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: Duplin County Schools
• NCES district ID: 3701200
• Math proficiency: 23% ▼ -5.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $34,900
• Composite: 22.66/100
• National rank: #8052
• State rank: #153 of 178 in NC

Livability — Beulaville

• Score: 61/100
• State rank: #503
• US rank: #18390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beulaville, NC
• Population (ZIP): 8,065

Population outlook (Duplin County) Hauer SSP2

• Today (2025): 57,701 people
• By 2030: 56,333 · -2.4%
• By 2040: 52,736 · -8.6%
• By 2050: 48,426 · -16.1%
• By 2075: 36,339 · -37.0%
• By 2100: 23,866 · -58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 15% Black 15% Native American 3% Two or more races 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 2%
• Common ancestry: Slovak 1% Serbian 1% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Duplin

• 2024 margin: Strong R (+28.9) · D 35.2% · R 64.2%
• 2008→2024 swing: -19.5pp toward R · 2008: -9.4pp · 2024: -28.9pp
• All cycles: 2024: R+28.9 2020: R+22.1 2016: R+19.2 2012: R+11.8 2008: R+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.74%
• Current HPI: 257.5718
• 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

+81.5% since first listed

8 events — show timeline

• 2026-04-20 Listed $145,000 TMLS
• 2021-04-13 Sold (Public Records) $92,000 Public Records
• 2014-11-26 Sold (MLS) $72,779 Hive MLS
• 2014-07-15 Listing Removed — Hive MLS
• 2014-05-23 Listed $80,000 Hive MLS
• 2013-03-21 Listing Removed — Hive MLS
• 2012-05-13 Listed $89,900 Hive MLS
• 2011-10-31 Listed $79,900 Hive MLS

Property tax history

+0.4%/yr

Latest (2025): $719 · +19.6% YoY. Source: county tax records.