4107 Old Us Highway 64 · Zebulon, NC 27597

$199,000

2 bd · 1.5 ba · 1,104 sqft · SingleFamily public records · 27 Days on market

Built 1950 1.04 ac lot Est $312k · 36% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• DSCR +4.2/10.0
• Livability +3.3/5.0
• 1% rule +3.0/10.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HOUSE RECENTLY RENOVATED - INCLUDING NEW ROOF, HVAC, WELL AND SEPTIC TANK GREAT LOCATION - WON'T LAST LONG AT THIS PRICE!!!

Key facts

• Covered front porch
• Private rural feel
• Functional layout

Tags

• UNRESTRICTED ACRES
• FUNCTIONAL LAYOUT
• COVERED FRONT PORCH
• REAR PATIO
• NO HOA
• PRIVATE RURAL FEEL

Property features AI

Finance

• Other: Lot size approximately 1.04 acres; Publicly maintained road access; County: Franklin
• HOA & community: No association

Exterior

• Parking: Detached or garage information not provided
• Utilities: Well water; Septic system; Electricity connected; Septic connected
• Home design: Site-built single-story home; One level
• Construction: Block and frame construction; Asphalt roof
• Exterior features: Front porch; Patio; Exterior storage; Shed(s) on the property; Property is cleared and wooded

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning; Ceiling fan(s)
• Interior features: Bathtub/shower combination; Ceiling fans; Kitchen and dining area combined
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $25 ($302/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (20.1% below list).
• Recommended offer: $159k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.6% 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+, schools D-, amenities F.
• Franklin County Schools (rural): math 34% / reading 37% proficiency, ranked #128 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.5%/yr); 657 active listings in the ZIP; solid renter incomes; 948 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Franklin County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $199k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,997 (20.1% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.54%
• DSCR: 1.02
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $312,432
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 Fedley Forest Rd	0.24mi	3/2.0 (+1)	1,220 (+10%)	20mo	$344,900	$283	48

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: -17.0%
• Equity multiple: 0.41×
• Total profit: $-33,010
• Equity at exit: $29,672

10-year hold

• IRR: -11.5%
• Equity multiple: 0.35×
• Total profit: $-36,116
• Equity at exit: $17,206

Cash invested: $55,720 (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: 657
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,590 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$104 /mo · $1,253/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $25

Break-even live

Break-even rent $1,558

Max offer price $199,000

Occupancy floor 93%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $199,000 Active 27 DOM
2. 2026-06-17
   days on market $199,000 Active 26 DOM
3. 2026-06-16
   days on market $199,000 Active 25 DOM
4. 2026-06-15
   days on market $199,000 Active 24 DOM
5. 2026-06-14
   price $199,000 Active 22 DOM
6. 2026-06-13
   days on market $220,000 Active 22 DOM
7. 2026-06-12
   days on market $220,000 Active 21 DOM
8. 2026-06-09
   days on market $220,000 Active 18 DOM
9. 2026-06-08
   days on market $220,000 Active 17 DOM
10. 2026-06-07
    days on market $220,000 Active 16 DOM
11. 2026-06-07
    days on market $220,000 Active 15 DOM
12. 2026-06-04
    days on market $220,000 Active 12 DOM
13. 2026-06-02
    days on market $220,000 Active 11 DOM
14. 2026-06-01
    days on market $220,000 Active 10 DOM
15. 2026-05-31
    remarks 671-char remark
16. 2026-05-31
    listed $220,000 Active 9 DOM

ⓘ 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: $1,253 · $104/mo
• Projected year-2 tax: $1,632 · $136/mo
• Expected delta: +$379/yr (+$32/mo · 30.3%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,080
• − Mortgage interest: −$11,147
• − Property taxes: −$1,253
• − Insurance: −$995
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$5,789
• Taxable loss: −$3,157
• Est. tax savings @ 24.0%: +$758
• After-tax cash flow: $1,060/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: Franklin County Schools
• NCES district ID: 3701530
• Math proficiency: 34% ▬ 0.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $44,630
• Composite: 30.25/100
• National rank: #6286
• State rank: #128 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 (Franklin County) Hauer SSP2

• Today (2025): 69,848 people
• By 2030: 72,480 · +3.8%
• By 2040: 76,682 · +9.8%
• By 2050: 78,993 · +13.1%
• By 2075: 82,888 · +18.7%
• By 2100: 80,784 · +15.7%

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 · Franklin

• 2024 margin: R (+13.6) · D 42.7% · R 56.3%
• 2008→2024 swing: -12.9pp toward R · 2008: -0.7pp · 2024: -13.6pp
• All cycles: 2024: R+13.6 2020: R+13.4 2016: R+11.7 2012: R+4.2 2008: R+0.7

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

+201.4% since first listed

4 events — show timeline

• 2026-05-22 Listed $220,000 TMLS
• 2000-09-26 Sold (Public Records) $61,500 Public Records
• 2000-09-26 Sold (MLS) $66,000 TMLS
• 2000-07-04 Listed $73,000 TMLS

Property tax history

+5.1%/yr

Latest (2025): $1,253 · +1.1% YoY. Source: county tax records.