1008 Laurel Leaf · Zebulon, NC 27597

$250,000

3 bd · 2.0 ba · 1,129 sqft · SingleFamily public records · 6 Days on market

Built 1999 10,018 sqft lot Est $205k · 22% over $13/mo HOA · 1% of rent

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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).

• Cash flow +11.8/30.0
• Schools +4.9/10.0
• DSCR +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.9/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

THE 'CLEMSON' PLAN WITH MASSIVE LIVING-FOYER-CUTE KITCHEN AND DINING AREA GET OUT YOUR ROCKING CHAIRS FOR FRONT PORCH-THIS IS A BEAUTIFUL HOME WITH LOTS OF CHARACTER AND OFFERS SO MUCH-NO CITY TAXES YET SO CLOSE TO SHOPPING AND 64 HWY-CUSTOM BY PHOENIX BUILDERS-CALL MARY ANN OR KIMBERLY AT 217-5422 PRR

Key facts

• New water heater
• New hvac system
• 0.23 acre lot

Tags

• NEW HVAC SYSTEM
• NEW WATER HEATER

Property features AI

Finance

• Other: Not a senior community
• HOA & community: LaurelLeaf association with an annual fee of $150

Exterior

• Parking: 2 parking spaces (no open parking)
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story house; One level
• Construction: Vinyl siding construction; Asphalt roof; Block foundation
• Exterior features: Vinyl siding; Asphalt roof; Block foundation; Lot approximately 0.23 acre; Publicly maintained road access; Zoned R4

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Luxury vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced air heating; Central air and heat pump cooling
• Interior features: Luxury vinyl flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-70 ($-844/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (24.2% below list).
• Recommended offer: $189k (24.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.8% in Zebulon — 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 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); 668 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y 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: major wind risk, 61% 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 $189,480 (24.2% 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: 0.76% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.21%
• DSCR: 0.95
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $205,478
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 Sexton Ave	0.63mi	3/1.5	1,180 (+4%)	4mo	$182,000	$154	58
625 Yates Pl	0.62mi	3/2.0	1,293 (+14%)	20mo	$235,000	$182	30

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 · 1.54% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.32×
• Total profit: $-47,805
• Equity at exit: $37,276

10-year hold

• IRR: -15.9%
• Equity multiple: 0.16×
• Total profit: $-58,614
• Equity at exit: $21,615

Cash invested: $70,000 (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: 668
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,895 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$139 /mo · $1,669/yr
• Insurance: −$104
• HOA: −$13
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-70

Break-even live

Break-even rent $1,984

Max offer price $237,573

Occupancy floor 99%

Sensitivity live

Price	-10% $71	-5% $0	+0% $-70	+5% $-141	+10% $-212
Rent	-10% $-220	-5% $-145	+0% $-70	+5% $4	+10% $79
Rate	-1.0pp $56	-0.5pp $-7	base $-70	+0.5pp $-135	+1.0pp $-201

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1215 Liriope Ln Zebulon, NC	3.0	2.0	1051	$1,745	$1.66	4d	1	0.05mi
1001 Laurel Leaf Rd Zebulon, NC	3.0	2.0	1457	$1,889	$1.30	5d	1	0.07mi
2012 Laurel Leaf Rd Zebulon, NC	3.0	2.0	1162	$1,729	$1.49	5d	1	0.34mi
2403 King Malcolm Ln Zebulon, NC	3.0	2.0	1255	$1,659	$1.32	16d	1	0.52mi
715 Proctor St Zebulon, NC	3.0	2.0	1119	$1,595	$1.43	5d	1	1.08mi
105 Lonesome Wind Way Zebulon, NC	2.0	1.0	996	$1,495	$1.50	25d	1	1.10mi
1322 Sasswood Ln Zebulon, NC	3.0	2.0	1078	$1,689	$1.57	4d	1	1.13mi
1457 Smokey Mountain Dr Zebulon, NC	3.0	2.0	1281	$1,700	$1.33	5d	1	1.32mi
1491 Smokey Mountain Dr Zebulon, NC	3.0	2.0	1146	$1,665	$1.45	25d	1	1.33mi
626 Shepard School Rd Zebulon, NC	1.0–2.0	1.0	782	$1,275	$1.63	4d	4	1.34mi

HOA detail

• Monthly dues: $13 · $156/yr

Listing history 10 events

1. 2026-05-21
   listed $250,000 Active
2. 2023-12-11
   price $95,900 303-char remark

   Show marketing remark (303 chars)

   THE 'CLEMSON' PLAN WITH MASSIVE LIVING-FOYER-CUTE KITCHEN AND DINING AREA GET OUT YOUR ROCKING CHAIRS FOR FRONT PORCH-THIS IS A BEAUTIFUL HOME WITH LOTS OF CHARACTER AND OFFERS SO MUCH-NO CITY TAXES YET SO CLOSE TO SHOPPING AND 64 HWY-CUSTOM BY PHOENIX BUILDERS-CALL MARY ANN OR KIMBERLY AT 217-5422 PRR

3. 2022-05-02
   soldstatus $256,000 Closed 121-char remark

   Show marketing remark (121 chars)

   Outstanding ranch home in an established subdivision. Spacious yard. Corner Lot, close to 64 Freeway. Will not last long.

4. 2022-05-02
   soldstatus $256,000

   Show marketing remark (121 chars)

   Outstanding ranch home in an established subdivision. Spacious yard. Corner Lot, close to 64 Freeway. Will not last long.

5. 2022-03-25
   status Pending 121-char remark

   Show marketing remark (121 chars)

   Outstanding ranch home in an established subdivision. Spacious yard. Corner Lot, close to 64 Freeway. Will not last long.

6. 2022-03-24
   listed $230,000 Active 121-char remark

   Show marketing remark (121 chars)

   Outstanding ranch home in an established subdivision. Spacious yard. Corner Lot, close to 64 Freeway. Will not last long.

7. 1999-07-29
   soldstatus $95,900 303-char remark

   Show marketing remark (303 chars)

   THE 'CLEMSON' PLAN WITH MASSIVE LIVING-FOYER-CUTE KITCHEN AND DINING AREA GET OUT YOUR ROCKING CHAIRS FOR FRONT PORCH-THIS IS A BEAUTIFUL HOME WITH LOTS OF CHARACTER AND OFFERS SO MUCH-NO CITY TAXES YET SO CLOSE TO SHOPPING AND 64 HWY-CUSTOM BY PHOENIX BUILDERS-CALL MARY ANN OR KIMBERLY AT 217-5422 PRR

8. 1999-06-20
   price $129,999 303-char remark

   Show marketing remark (303 chars)

   THE 'CLEMSON' PLAN WITH MASSIVE LIVING-FOYER-CUTE KITCHEN AND DINING AREA GET OUT YOUR ROCKING CHAIRS FOR FRONT PORCH-THIS IS A BEAUTIFUL HOME WITH LOTS OF CHARACTER AND OFFERS SO MUCH-NO CITY TAXES YET SO CLOSE TO SHOPPING AND 64 HWY-CUSTOM BY PHOENIX BUILDERS-CALL MARY ANN OR KIMBERLY AT 217-5422 PRR

9. 1999-06-20
   historical 303-char remark

   Show marketing remark (303 chars)

   THE 'CLEMSON' PLAN WITH MASSIVE LIVING-FOYER-CUTE KITCHEN AND DINING AREA GET OUT YOUR ROCKING CHAIRS FOR FRONT PORCH-THIS IS A BEAUTIFUL HOME WITH LOTS OF CHARACTER AND OFFERS SO MUCH-NO CITY TAXES YET SO CLOSE TO SHOPPING AND 64 HWY-CUSTOM BY PHOENIX BUILDERS-CALL MARY ANN OR KIMBERLY AT 217-5422 PRR

10. 1999-04-15
    listed $95,900 303-char remark

    Show marketing remark (303 chars)

    THE 'CLEMSON' PLAN WITH MASSIVE LIVING-FOYER-CUTE KITCHEN AND DINING AREA GET OUT YOUR ROCKING CHAIRS FOR FRONT PORCH-THIS IS A BEAUTIFUL HOME WITH LOTS OF CHARACTER AND OFFERS SO MUCH-NO CITY TAXES YET SO CLOSE TO SHOPPING AND 64 HWY-CUSTOM BY PHOENIX BUILDERS-CALL MARY ANN OR KIMBERLY AT 217-5422 PRR

ⓘ 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: $1,669 · $139/mo
• Projected year-2 tax: $2,050 · $171/mo
• Expected delta: +$381/yr (+$32/mo · 22.9%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $22,738
• − Mortgage interest: −$14,004
• − Property taxes: −$1,669
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − HOA: −$156
• − Depreciation: −$7,273
• Taxable loss: −$5,252
• Est. tax savings @ 24.0%: +$1,260
• After-tax cash flow: $416/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

• 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

+160.7% since first listed

10 events — show timeline

• 2026-05-21 Listed $250,000 TMLS
• 2023-12-11 Price Changed $95,900 TMLS
• 2022-05-02 Sold (Public Records) $256,000 Public Records
• 2022-05-02 Sold (MLS) $256,000 TMLS
• 2022-03-25 Pending — TMLS
• 2022-03-24 Listed $230,000 TMLS
• 1999-07-29 Sold (MLS) $95,900 TMLS
• 1999-06-20 Listing Removed — TMLS
• 1999-06-20 Price Changed $129,999 TMLS
• 1999-04-15 Listed $95,900 TMLS

Property tax history

+6.9%/yr

Latest (2025): $1,669 · +3.0% YoY. Source: county tax records.