610 S Wakefield St · Zebulon, NC 27597

$185,000

3 bd · 2.0 ba · 1,546 sqft · SingleFamily public records · 6 Days on market

Built 1928 0.69 ac lot

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Why this score? — see what drove the C+ 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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over ½ acre lot. All new windows. HVAC< 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

Key facts

• Wooded surroundings
• Front porch
• Open layout

Tags

• OVER A HALF-ACRE LOT
• WOODED SURROUNDINGS
• FRONT PORCH
• SCREENED PORCH
• OPEN LAYOUT
• MULTIPLE LIVING AREAS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 8.9% 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.
• 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.
• Market conditions: Rents rising (+1.5%/yr); 657 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 $1k of loan paydown is wiped out by about $6k 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.
• 4 sale attempts since 5y 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

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 76% 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 $185,000

Questions for the listing agent

1. Built in 1928 — 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. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.34%
• DSCR: 1.42
• GRM: 7.5

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: -3.8%
• Equity multiple: 0.86×
• Total profit: $-7,279
• Equity at exit: $27,584

10-year hold

• IRR: 4.2%
• Equity multiple: 1.29×
• Total profit: $14,862
• Equity at exit: $15,995

Cash invested: $51,800 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,051 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$170 /mo · $2,037/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $403

Break-even live

Break-even rent $1,540

Max offer price $185,000

Occupancy floor 75%

Sensitivity live

Price	-10% $508	-5% $455	+0% $403	+5% $351	+10% $298
Rent	-10% $241	-5% $322	+0% $403	+5% $484	+10% $565
Rate	-1.0pp $496	-0.5pp $450	base $403	+0.5pp $355	+1.0pp $306

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
639 Bullhardt Dr Zebulon, NC	3.0	2.0	1596	$1,860	$1.17	24d	1	0.18mi
233 W Barbee St Zebulon, NC	3.0	2.0	1389	$1,925	$1.39	24d	1	0.50mi
602 Coventry Dr Zebulon, NC	3.0	2.0	1592	$1,855	$1.17	2d	1	1.22mi

Listing history 19 events

1. 2026-06-18
   status $185,000 Active 6 DOM
2. 2026-04-14
   status Pending
3. 2026-04-08
   status Active
4. 2026-04-08
   historical
5. 2026-04-08
   listed $185,000 Active
6. 2022-08-25
   soldstatus $315,000 Closed 482-char remark

   Show marketing remark (482 chars)

   Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over &frac12; acre lot. All new windows. HVAC&lt; 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

7. 2022-08-25
   soldstatus $315,000

   Show marketing remark (482 chars)

   Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over &frac12; acre lot. All new windows. HVAC&lt; 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

8. 2022-07-21
   status Pending 482-char remark

   Show marketing remark (482 chars)

   Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over &frac12; acre lot. All new windows. HVAC&lt; 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

9. 2022-07-07
   price $315,000 482-char remark

   Show marketing remark (482 chars)

   Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over &frac12; acre lot. All new windows. HVAC&lt; 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

10. 2022-06-28
    price $329,000 482-char remark

    Show marketing remark (482 chars)

    Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over &frac12; acre lot. All new windows. HVAC&lt; 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

11. 2022-06-08
    price $330,000 482-char remark

    Show marketing remark (482 chars)

    Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over &frac12; acre lot. All new windows. HVAC&lt; 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

12. 2022-05-12
    price $340,000 482-char remark

    Show marketing remark (482 chars)

    Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over &frac12; acre lot. All new windows. HVAC&lt; 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

13. 2022-04-29
    listed $350,000 Active 482-char remark

    Show marketing remark (482 chars)

    Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over &frac12; acre lot. All new windows. HVAC&lt; 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

14. 2022-04-27
    historical $350,000 482-char remark

    Show marketing remark (482 chars)

    Beautifully Renovated One level cozy, country living. Relax on the front porch swing of this 3 bedroom 2 bath home. Sep Living Room, Family Room and Dining Room in open concept great for entertaining. Granite Counters. SS Appliances. Primary Bedroom has sitting area and ensuite bathroom w/ tile walk in shower. Screened porch overlooking private wooded backyard. Home sits on over &frac12; acre lot. All new windows. HVAC&lt; 5 yrs. Ceiling Fans in all rooms. Storage Shed conveys.

15. 2021-08-03
    soldstatus $190,000 Closed 241-char remark

    Show marketing remark (241 chars)

    So much potential in this spacious ranch. Large country lot. Convenient to shopping and Hwy for commuting. Home Being Sold As-Is. This one won't last long!! Seller is a licensed NC Real Estate Broker. Seller is related to the listing agent.

16. 2021-08-03
    soldstatus $190,000

    Show marketing remark (241 chars)

    So much potential in this spacious ranch. Large country lot. Convenient to shopping and Hwy for commuting. Home Being Sold As-Is. This one won't last long!! Seller is a licensed NC Real Estate Broker. Seller is related to the listing agent.

17. 2021-06-27
    historical Contingent 241-char remark

    Show marketing remark (241 chars)

    So much potential in this spacious ranch. Large country lot. Convenient to shopping and Hwy for commuting. Home Being Sold As-Is. This one won't last long!! Seller is a licensed NC Real Estate Broker. Seller is related to the listing agent.

18. 2021-06-23
    listed $199,000 Active 241-char remark

    Show marketing remark (241 chars)

    So much potential in this spacious ranch. Large country lot. Convenient to shopping and Hwy for commuting. Home Being Sold As-Is. This one won't last long!! Seller is a licensed NC Real Estate Broker. Seller is related to the listing agent.

19. 1991-06-03
    soldstatus $79,000

ⓘ 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: $2,037 · $170/mo
• Projected year-2 tax: $2,037 · $170/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% 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: $24,609
• − Mortgage interest: −$10,363
• − Property taxes: −$2,037
• − Insurance: −$925
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − Depreciation: −$5,382
• Taxable income: $1,965
• Est. tax owed @ 24.0%: −$472
• After-tax cash flow: $4,366/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

+134.2% since first listed

18 events — show timeline

• 2026-04-14 Pending — TMLS
• 2026-04-08 Relisted — TMLS
• 2026-04-08 Listing Removed — TMLS
• 2026-04-08 Listed $185,000 TMLS
• 2022-08-25 Sold (Public Records) $315,000 Public Records
• 2022-08-25 Sold (MLS) $315,000 TMLS
• 2022-07-21 Pending — TMLS
• 2022-07-07 Price Changed $315,000 TMLS
• 2022-06-28 Price Changed $329,000 TMLS
• 2022-06-08 Price Changed $330,000 TMLS
• 2022-05-12 Price Changed $340,000 TMLS
• 2022-04-29 Listed $350,000 TMLS
• 2022-04-27 Coming Soon $350,000 TMLS
• 2021-08-03 Sold (Public Records) $190,000 Public Records
• 2021-08-03 Sold (MLS) $190,000 TMLS
• 2021-06-27 Contingent — TMLS
• 2021-06-23 Listed $199,000 TMLS
• 1991-06-03 Sold (Public Records) $79,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $2,037 · +3.0% YoY. Source: county tax records.