607 Trawler Pl · Broad Creek, NC 28570

$699,900

4 bd · 3.0 ba · 1,691 sqft · Other public records · 79 Days on market

Built 2021 0.27 ac lot $161/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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Introducing Anchor Homes and the ''Baxter'' plan into the desirable water front community of Bogue Watch! Act now to choose your selections and watch your dream home take life! Ground breaking in February 2021. Build time approximately 7 months. This home will be tucked away toward the end of a cul de sac, with southwest facing views from your main living space and wooded view from your owners' suite. Potential views from the back, of the marina! Additional 130 heated square foot OPTION would provide larger bedroom #2, office or flex space. OPTIONAL elevator package available. Price includes building this out as closet space. Sunset views will be spectacular from your front porch, and your tree lined back yard will provide a private back patio area. Amenities featured, include clubhouse, outdoor pool and bath house, kayak launch, playground, marina/boat ramp, fish cleaning station, observation pier and picnic pavilion, not to mention it's located just minutes from the top NC ranked Croatan High School!

Key facts

• Clubhouse
• Waterfront community
• Gourmet kitchen

Tags

• WATERFRONT COMMUNITY
• GOURMET KITCHEN
• GRANITE COUNTERTOPS
• LVP FLOORING
• RESORT-STYLE AMENITIES
• CLUBHOUSE

Property features AI

Finance

• Other: Zoning: R
• HOA & community: Homeowners association with annual fee ($1,936 / $161.33 monthly equivalent); Community amenities: Clubhouse, Gated community, Management; Community pool

Exterior

• Parking: Attached 2-car garage; On-site parking; 2 total parking spaces
• Security: Smoke detector(s)
• Utilities: Natural gas connected; Public sewer; Water connected
• Home design: Single family residence; Two stories; Entry level: 2
• Construction: Fiber cement and frame construction; Shingle roof; Foundation: see remarks; Built as residential single-family
• Exterior features: Covered patio/porch; Deck; Back yard fencing; Has view; Located on a cul-de-sac; Paved private road frontage

Interior

• Kitchen: Gas cooktop; Electric oven; Dishwasher; Microwave; Disposal
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heat pump; Natural gas heating; Central air conditioning
• Interior features: Walk-in closet(s); High ceilings; Ceiling fan(s); Pantry; Accessible full bath; Smoke detector(s)
• Laundry & utility: Laundry room; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $700k.

Deal economics

• At list price, monthly cash flow is $7k ($86k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $700k).
• Recommended offer: $658k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#340 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Carteret County Public Schools (rural): math 59% / reading 61% proficiency, ranked #31 of 178 in NC (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: White Oak Elementary (math 76% / reading 65%, grade A-, #88 of 1,410 statewide, top 6%, 772 students, 100% FRL); Broad Creek Middle (math 63% / reading 68%, grade A-, #28 of 475 statewide, top 6%, 710 students, 100% FRL); Croatan High (math 82% / reading 78%, grade A, #73 of 535 statewide, top 13%, 974 students, 26% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 72% at this address vs 60% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Carteret County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 216 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Carteret County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $196k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($658k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $607k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $657,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.16% ✓
• Cap rate: 19.37%
• Cash-on-cash: 46.69%
• DSCR: 3.08
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 41.0%
• Equity multiple: 2.76×
• Total profit: $345,194
• Equity at exit: $104,357

10-year hold

• IRR: 47.3%
• Equity multiple: 5.55×
• Total profit: $891,550
• Equity at exit: $60,515

Cash invested: $195,972 (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 28570

• Home prices YoY: -16.2%
• Active inventory: 216
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $15,085 medium
• Mortgage (P&I): −$3,670
• Tax from tax record: −$169 /mo · $2,033/yr
• Insurance: −$292
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$161
• Vacancy / Maint / Mgmt: −$3,168
• Net cashflow: $7,198

Break-even live

Break-even rent $5,973

Max offer price $699,900

Occupancy floor 47%

Sensitivity live

Price	-10% $7,594	-5% $7,396	+0% $7,198	+5% $7,000	+10% $6,802
Rent	-10% $6,006	-5% $6,602	+0% $7,198	+5% $7,794	+10% $8,390
Rate	-1.0pp $7,551	-0.5pp $7,376	base $7,198	+0.5pp $7,017	+1.0pp $6,832

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: $174,975
• Closing costs: $20,997
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $161 · $1,932/yr
• Likely covers: waterpool

Listing history 21 events

1. 2026-06-14
   statusdays on market $699,900 Pending 79 DOM
2. 2026-06-12
   days on market $699,900 Active 78 DOM
3. 2026-06-09
   days on market $699,900 Active 75 DOM
4. 2026-06-08
   days on market $699,900 Active 74 DOM
5. 2026-06-07
   days on market $699,900 Active 73 DOM
6. 2026-06-05
   days on market $699,900 Active 70 DOM
7. 2026-06-03
   days on market $699,900 Active 69 DOM
8. 2026-06-02
   days on market $699,900 Active 68 DOM
9. 2026-06-01
   days on market $699,900 Active 67 DOM
10. 2026-05-31
    days on market $699,900 Active 66 DOM
11. 2026-05-30
    days on market $699,900 Active 65 DOM
12. 2026-04-28
    price $699,900
13. 2026-03-26
    listed $725,000 Active
14. 2022-04-08
    soldstatus $607,499 Closed 1017-char remark

    Show marketing remark (1017 chars)

    Introducing Anchor Homes and the ''Baxter'' plan into the desirable water front community of Bogue Watch! Act now to choose your selections and watch your dream home take life! Ground breaking in February 2021. Build time approximately 7 months. This home will be tucked away toward the end of a cul de sac, with southwest facing views from your main living space and wooded view from your owners' suite. Potential views from the back, of the marina! Additional 130 heated square foot OPTION would provide larger bedroom #2, office or flex space. OPTIONAL elevator package available. Price includes building this out as closet space. Sunset views will be spectacular from your front porch, and your tree lined back yard will provide a private back patio area. Amenities featured, include clubhouse, outdoor pool and bath house, kayak launch, playground, marina/boat ramp, fish cleaning station, observation pier and picnic pavilion, not to mention it's located just minutes from the top NC ranked Croatan High School!

15. 2021-07-07
    historical 1017-char remark

    Show marketing remark (1017 chars)

    Introducing Anchor Homes and the ''Baxter'' plan into the desirable water front community of Bogue Watch! Act now to choose your selections and watch your dream home take life! Ground breaking in February 2021. Build time approximately 7 months. This home will be tucked away toward the end of a cul de sac, with southwest facing views from your main living space and wooded view from your owners' suite. Potential views from the back, of the marina! Additional 130 heated square foot OPTION would provide larger bedroom #2, office or flex space. OPTIONAL elevator package available. Price includes building this out as closet space. Sunset views will be spectacular from your front porch, and your tree lined back yard will provide a private back patio area. Amenities featured, include clubhouse, outdoor pool and bath house, kayak launch, playground, marina/boat ramp, fish cleaning station, observation pier and picnic pavilion, not to mention it's located just minutes from the top NC ranked Croatan High School!

16. 2021-02-26
    soldstatus $210,500
17. 2021-02-04
    listed $599,900 1017-char remark

    Show marketing remark (1017 chars)

    Introducing Anchor Homes and the ''Baxter'' plan into the desirable water front community of Bogue Watch! Act now to choose your selections and watch your dream home take life! Ground breaking in February 2021. Build time approximately 7 months. This home will be tucked away toward the end of a cul de sac, with southwest facing views from your main living space and wooded view from your owners' suite. Potential views from the back, of the marina! Additional 130 heated square foot OPTION would provide larger bedroom #2, office or flex space. OPTIONAL elevator package available. Price includes building this out as closet space. Sunset views will be spectacular from your front porch, and your tree lined back yard will provide a private back patio area. Amenities featured, include clubhouse, outdoor pool and bath house, kayak launch, playground, marina/boat ramp, fish cleaning station, observation pier and picnic pavilion, not to mention it's located just minutes from the top NC ranked Croatan High School!

18. 2020-11-20
    historical
19. 2018-12-04
    listed $60,000
20. 2018-09-28
    historical
21. 2018-06-11
    listed $70,000

ⓘ 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: $2,033 · $169/mo
• Projected year-2 tax: $5,739 · $478/mo
• Expected delta: +$3,706/yr (+$309/mo · 182.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 94% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $181,019
• − Mortgage interest: −$39,205
• − Property taxes: −$2,033
• − Insurance: −$8,618
• − Repairs & maintenance: −$14,482
• − Management: −$14,482
• − HOA: −$1,932
• − Depreciation: −$20,361
• Taxable income: $79,907
• Est. tax owed @ 24.0%: −$19,178
• After-tax cash flow: $67,200/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: Carteret County Public Schools
• NCES district ID: 3700630
• Math proficiency: 59% ▲ 5.00%
• Reading proficiency: 61% ▲ 2.00%
• Median HH income: $48,330
• Composite: 50.92/100
• National rank: #1786
• State rank: #31 of 178 in NC

Livability — Broad Creek

• Score: 64/100
• State rank: #340
• US rank: #13718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• City population: 22,197
• Metro: Morehead City, NC
• Population (ZIP): 22,197
• Household income: $70,229
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 461.0

Population outlook (Carteret County) Hauer SSP2

• Today (2025): 73,443 people
• By 2030: 75,344 · +2.6%
• By 2040: 78,142 · +6.4%
• By 2050: 80,091 · +9.1%
• By 2075: 86,120 · +17.3%
• By 2100: 89,408 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Carteret

• 2024 margin: Solid R (+43.1) · D 28.0% · R 71.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -34.7pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+42.0 2016: R+44.5 2012: R+41.0 2008: R+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.54%
• Current HPI: 276.6589
• Rent YoY: —
• Metro: Morehead City, 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

+899.9% since first listed

10 events — show timeline

• 2026-04-28 Price Changed $699,900 Hive MLS
• 2026-03-26 Listed $725,000 Hive MLS
• 2022-04-08 Sold (MLS) $607,499 Hive MLS
• 2021-07-07 Listing Removed — Hive MLS
• 2021-02-26 Sold (Public Records) $210,500 Public Records
• 2021-02-04 Listed $599,900 Hive MLS
• 2020-11-20 Listing Removed — Hive MLS
• 2018-12-04 Listed $60,000 Hive MLS
• 2018-09-28 Listing Removed — Hive MLS
• 2018-06-11 Listed $70,000 Hive MLS

Property tax history

+31.0%/yr

Latest (2025): $2,033 · +57.0% YoY. Source: county tax records.