623 Sandy Bluff Dr SW · Varnamtown, NC 28462

$189,900

3 bd · 2.0 ba · 960 sqft · Manufactured public records · 39 Days on market

Built 1996 0.35 ac lot Est $140k · 35% over

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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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +5.4/10.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Are you looking for a beach retreat? Here's a great 3 bedroom, 2 bath on large lot only minutes to the beach. Kitchen Appliances, Laundry appliances and some furnishings will convey. Fireplace in living room has never been used by sellers. Great vacation home. Affidavit recorded cancelling title to home, county classified as real property. Leased alarm system through ADT will not convey. Call Today.

Key facts

• Front deck
• Fenced back yard
• Renovated kitchen

Tags

• FENCED BACK YARD
• RENOVATED KITCHEN
• STAINLESS STEEL APPLIANCES
• WALK-IN SHOWER
• COVERED BACK PORCH
• FRONT DECK

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Unpaved parking
• Security: Security lights; Owned security system; Smoke detectors
• Utilities: Public water (water connected); Septic tank sewer
• Home design: Manufactured home (residential); One story; Entry level: 1
• Construction: Vinyl siding with frame construction
• Exterior features: Covered patio/deck and rear porch; Storm door(s); Wood backyard fencing; Shed(s) and storage; Shingle roof; Wooded, rectangular lot; Paved road access; Has view

Interior

• Kitchen: Electric oven; Range; Microwave; Dishwasher; Refrigerator; Eat-in kitchen
• Bedrooms: Total rooms: 5
• Bathrooms: 2 full bathrooms; Accessible full bath
• Heating & cooling: Central air; Ceiling fan(s); Heat pump; Electric heating; Fireplace(s)
• Interior features: Walk-in closets; Vaulted ceilings; Ceiling fans; Eat-in kitchen; Window coverings; No basement (crawl space)
• Laundry & utility: Washer hookup in kitchen; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.8% in Varnamtown — 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 60/100 on livability (#521 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, employment B; Watch: crime D, health & safety D, amenities F.
• Brunswick County Schools (rural): math 45% / reading 47% proficiency, ranked #82 of 178 in NC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Virginia Williamson Elem (math 50% / reading 49%, grade D, #417 of 1,410 statewide, top 32%, 502 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% FRL); West Brunswick High (math 50% / reading 56%, grade C-, #281 of 535 statewide, top 53%, 1,526 students, 100% FRL) — zoned schools average 100% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 506 active listings in the ZIP; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 39% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 $79k; list at $190k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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: 1.04% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.13%
• DSCR: 1.45
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $140,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
643 Oakwood Dr SW	0.32mi	3/2.0	990 (+3%)	9mo	$198,000	$200	72
729 Sand Hill Dr SW	0.31mi	3/2.0	924 (-4%)	11mo	$128,000	$139	70
2056 Willow St SW	0.44mi	3/2.0	924 (-4%)	10mo	$135,000	$146	65
702 Sandy Bluff Dr SW	0.18mi	2/2.0 (-1)	893 (-7%)	12mo	$100,000	$112	65
700 Sand Hill Dr SW	0.23mi	2/2.0 (-1)	1,088 (+13%)	9mo	$149,000	$137	55
858-864 Cockleshell Dr SW	0.57mi	2/1.5 (-1)	924 (-4%)	9mo	$169,000	$183	52
733 Sand Hill Dr SW	0.32mi	2/2.0 (-1)	840 (-12%)	11mo	$110,000	$131	50
411 Baker Dr SW	0.52mi	3/2.0	1,042 (+8%)	16mo	$168,593	$162	48
339 Baker Dr SW	0.67mi	3/2.0	893 (-7%)	17mo	$93,000	$104	43
324 Maple Creek Rd SW	0.70mi	3/2.0	1,100 (+15%)	0mo	$225,000	$205	43
385 Maple Creek Rd SW	0.55mi	3/2.0	1,104 (+15%)	14mo	$150,000	$136	38
2273 Jingle Ct SW	0.55mi	2/2.0 (-1)	1,104 (+15%)	13mo	$182,500	$165	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,269
• Equity at exit: $28,315

10-year hold

• IRR: 8.5%
• Equity multiple: 1.65×
• Total profit: $34,466
• Equity at exit: $16,419

Cash invested: $53,172 (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 28462

• Active inventory: 506
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,975 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$36 /mo · $437/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $449

Break-even live

Break-even rent $1,407

Max offer price $189,900

Occupancy floor 72%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $189,900 Active 39 DOM
2. 2026-06-17
   days on market $189,900 Active 38 DOM
3. 2026-06-16
   days on market $189,900 Active 37 DOM
4. 2026-06-15
   days on market $189,900 Active 36 DOM
5. 2026-06-14
   days on market $189,900 Active 34 DOM
6. 2026-06-13
   days on market $189,900 Active 33 DOM
7. 2026-06-10
   days on market $189,900 Active 31 DOM
8. 2026-06-09
   days on market $189,900 Active 30 DOM
9. 2026-06-08
   days on market $189,900 Active 29 DOM
10. 2026-06-07
    days on market $189,900 Active 28 DOM
11. 2026-06-05
    days on market $189,900 Active 25 DOM
12. 2026-06-03
    days on market $189,900 Active 24 DOM
13. 2026-06-02
    days on market $189,900 Active 23 DOM
14. 2026-06-01
    days on market $189,900 Active 22 DOM
15. 2026-05-31
    days on market $189,900 Active 21 DOM
16. 2026-05-30
    days on market $189,900 Active 20 DOM
17. 2026-05-21
    price $189,900
18. 2026-05-10
    listed $199,000 Active
19. 2020-08-25
    soldstatus $79,000 402-char remark

    Show marketing remark (402 chars)

    Are you looking for a beach retreat? Here's a great 3 bedroom, 2 bath on large lot only minutes to the beach. Kitchen Appliances, Laundry appliances and some furnishings will convey. Fireplace in living room has never been used by sellers. Great vacation home. Affidavit recorded cancelling title to home, county classified as real property. Leased alarm system through ADT will not convey. Call Today.

20. 2020-06-13
    listed $89,500 402-char remark

    Show marketing remark (402 chars)

    Are you looking for a beach retreat? Here's a great 3 bedroom, 2 bath on large lot only minutes to the beach. Kitchen Appliances, Laundry appliances and some furnishings will convey. Fireplace in living room has never been used by sellers. Great vacation home. Affidavit recorded cancelling title to home, county classified as real property. Leased alarm system through ADT will not convey. Call Today.

21. 2016-10-27
    soldstatus $47,000 633-char remark

    Show marketing remark (633 chars)

    MOTIVATED SELLERS. 3 Bedroom/2 Bath double-wide located in Sandy Bluff. Sits on over a third of an acre, one of the larger lots on Sandy Bluff. Has a fenced yard, brick foundation, and 2 brick porches on the front and back. Seller has recently had the entire inside freshly painted, kitchen cabinets and all. With a little TLC this could be a great beach getaway. A short 5 minute drive and you can have your toes in the sand at Holden Beach. Approximately 10 minutes and you can be to a variety of restaurants and shopping in Shallotte. Also located conveniently in-between Myrtle Beach and Wilmington. Come see this property today.

22. 2016-10-27
    soldstatus $47,000

    Show marketing remark (633 chars)

    MOTIVATED SELLERS. 3 Bedroom/2 Bath double-wide located in Sandy Bluff. Sits on over a third of an acre, one of the larger lots on Sandy Bluff. Has a fenced yard, brick foundation, and 2 brick porches on the front and back. Seller has recently had the entire inside freshly painted, kitchen cabinets and all. With a little TLC this could be a great beach getaway. A short 5 minute drive and you can have your toes in the sand at Holden Beach. Approximately 10 minutes and you can be to a variety of restaurants and shopping in Shallotte. Also located conveniently in-between Myrtle Beach and Wilmington. Come see this property today.

23. 2016-05-19
    listed $52,500 633-char remark

    Show marketing remark (633 chars)

    MOTIVATED SELLERS. 3 Bedroom/2 Bath double-wide located in Sandy Bluff. Sits on over a third of an acre, one of the larger lots on Sandy Bluff. Has a fenced yard, brick foundation, and 2 brick porches on the front and back. Seller has recently had the entire inside freshly painted, kitchen cabinets and all. With a little TLC this could be a great beach getaway. A short 5 minute drive and you can have your toes in the sand at Holden Beach. Approximately 10 minutes and you can be to a variety of restaurants and shopping in Shallotte. Also located conveniently in-between Myrtle Beach and Wilmington. Come see this property today.

24. 2016-03-31
    historical
25. 2014-09-25
    listed $64,900
26. 2010-12-20
    soldstatus $62,500
27. 2010-12-20
    soldstatus $62,500
28. 2010-03-08
    listed $74,500
29. 2010-01-10
    historical
30. 2009-02-17
    listed $85,500
31. 2008-12-29
    soldstatus $35,150
32. 2008-11-18
    listed $25,000

ⓘ 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: $437 · $36/mo
• Projected year-2 tax: $1,557 · $130/mo
• Expected delta: +$1,121/yr (+$93/mo · 256.7%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $23,702
• − Mortgage interest: −$10,637
• − Property taxes: −$437
• − Insurance: −$950
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − Depreciation: −$5,524
• Taxable income: $2,362
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $4,821/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: Brunswick County Schools
• NCES district ID: 3700420
• Math proficiency: 45% ▲ 4.00%
• Reading proficiency: 47% ▲ 4.00%
• Median HH income: $47,494
• Composite: 39.23/100
• National rank: #4011
• State rank: #82 of 178 in NC

Livability — Varnamtown

• Score: 60/100
• State rank: #521
• US rank: #19194

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 12,340
• Household income: $60,349
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 269.0

Population outlook (Brunswick County) Hauer SSP2

• Today (2025): 152,111 people
• By 2030: 165,705 · +8.9%
• By 2040: 188,494 · +23.9%
• By 2050: 206,228 · +35.6%
• By 2075: 237,876 · +56.4%
• By 2100: 251,451 · +65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Brunswick

• 2024 margin: Strong R (+24.9) · D 37.2% · R 62.0%
• 2008→2024 swing: -6.9pp toward R · 2008: -17.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+25.0 2016: R+28.7 2012: R+22.2 2008: R+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -259.44%
• Current HPI: 144.2462
• Rent YoY: —
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-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

+659.6% since first listed

16 events — show timeline

• 2026-05-21 Price Changed $189,900 Hive MLS
• 2026-05-10 Listed $199,000 Hive MLS
• 2020-08-25 Sold (MLS) $79,000 Hive MLS
• 2020-06-13 Listed $89,500 Hive MLS
• 2016-10-27 Sold (Public Records) $47,000 Public Records
• 2016-10-27 Sold (MLS) $47,000 Hive MLS
• 2016-05-19 Listed $52,500 Hive MLS
• 2016-03-31 Listing Removed — Hive MLS
• 2014-09-25 Listed $64,900 Hive MLS
• 2010-12-20 Sold (Public Records) $62,500 Public Records
• 2010-12-20 Sold (MLS) $62,500 Hive MLS
• 2010-03-08 Listed $74,500 Hive MLS
• 2010-01-10 Listing Removed — Hive MLS
• 2009-02-17 Listed $85,500 Hive MLS
• 2008-12-29 Sold (MLS) $35,150 Hive MLS
• 2008-11-18 Listed $25,000 Hive MLS

Property tax history

+3.0%/yr

Latest (2025): $437 · +0.0% YoY. Source: county tax records.