304 Angelfish Ct · Bogue, NC 28570

$568,700

4 bd · 2.0 ba · 2,146 sqft · Other public records · 58 Days on market

Built 2010 0.58 ac lot $32/mo HOA

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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

NEW HOME MORADA BAY,MIDWAY BETWEEN CAPE CARTERET&MOREHEAD,LARGE BONUS ROOM.WONDERFUL DESIGN&FLOORPLAN.LARGE DINING ROOM.9'CEILINGS.GRANITE COUNTERTOPS.UPGRADED CABINETS.STAINLESS STEEL APPLIANCES.GATED COMMUNITY W/PLANNED WATER ACCESS.NICE LLAMA FARM W/RED BARN BEHIND THIS LOT.CULDESAC.A TOTALLY COOL HOME CONVENIENTLY LOCATED. FUTURE WATER ACCESS PLANNED

Key facts

• Private back yard
• Gas fireplace
• En-suite bathroom

Tags

• EXPANSIVE OPEN-CONCEPT LAYOUT
• GAS FIREPLACE
• PRIVATE BACK YARD
• HARDY PLANK FLOORING
• GENEROUS WALK-IN CLOSET
• EN-SUITE BATHROOM

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $385 (about $32.08/month)

Exterior

• Parking: Attached front-facing garage; Two garage spaces (total 2 parking spaces); Concrete driveway and paved surfaces; Garage door opener
• Security: Smoke detectors
• Utilities: Public water and well available; Septic tank; Generator for electric; Water available to the property
• Home design: Single-family residence; One and one-half level design; Entry level: 1; Vinyl siding frame construction
• Construction: Shingle roof; Frame construction with vinyl siding; Slab foundation; Built with shed/outbuilding
• Exterior features: Covered, screened, and enclosed patios/porches; Front and rear porches; Screened porch; Storm doors; Fenced backyard with vinyl and wrought iron fencing; Shed(s); Generator; Irrigation system; Waterfront access; Has a view; Lot on a cul-de-sac with wooded areas; Sprinklers in front and rear; Paved private road

Interior

• Kitchen: Gas cooktop; Electric oven; Microwave; Refrigerator; Dishwasher; Vented exhaust fan; Pantry
• Bedrooms: Master located downstairs
• Flooring: Carpet; Tile; Wood
• Bathrooms: Two full bathrooms; Accessible full bath
• Heating & cooling: Heat pump heating and cooling; Electric and natural gas heating components; Central air
• Interior features: Master suite on the main level; Walk-in closets; Tray ceilings and high ceilings; Entrance foyer; Ceiling fans; Pantry; Eat-in kitchen; Insulated windows with window coverings; Gas-log fireplace
• Laundry & utility: Laundry room with washer hookup; Water softener; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $569k.

Deal economics

• At list price, monthly cash flow is $8k ($101k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $569k).
• Recommended offer: $552k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#311 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living 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: Bogue Sound Elementary (math 63% / reading 63%, grade B, #168 of 1,410 statewide, top 12%, 467 students, 99% 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.
• Market conditions: 216 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).
• At $14,898/mo this rent would consume 255% of the median local household income ($70k/yr) (locally 461% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k 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 $159k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($552k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $250k; list at $569k implies a 128% 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; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $551,639 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 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?
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: 2.62% ✓
• Cap rate: 24.03%
• Cash-on-cash: 63.33%
• DSCR: 3.82
• GRM: 3.2

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: 62.3%
• Equity multiple: 3.78×
• Total profit: $442,970
• Equity at exit: $84,795

10-year hold

• IRR: 66.9%
• Equity multiple: 7.75×
• Total profit: $1,074,448
• Equity at exit: $49,171

Cash invested: $159,236 (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: 3.2×

Monthly cashflow live

• Estimated rent: $14,898 medium
• Mortgage (P&I): −$2,982
• Tax from tax record: −$114 /mo · $1,370/yr
• Insurance: −$237
• HOA: −$32
• Vacancy / Maint / Mgmt: −$3,129
• Net cashflow: $8,404

Break-even live

Break-even rent $4,260

Max offer price $568,700

Occupancy floor 39%

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: $142,175
• Closing costs: $17,061
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $32 · $384/yr
• Likely covers: watersecurity

Listing history 20 events

1. 2026-06-19
   days on market $568,700 Active 58 DOM
2. 2026-06-18
   days on market $568,700 Active 57 DOM
3. 2026-06-17
   days on market $568,700 Active 56 DOM
4. 2026-06-16
   days on market $568,700 Active 55 DOM
5. 2026-06-15
   days on market $568,700 Active 54 DOM
6. 2026-06-14
   days on market $568,700 Active 52 DOM
7. 2026-06-12
   days on market $568,700 Active 51 DOM
8. 2026-06-09
   days on market $568,700 Active 48 DOM
9. 2026-06-08
   days on market $568,700 Active 47 DOM
10. 2026-06-07
    days on market $568,700 Active 46 DOM
11. 2026-06-05
    days on market $568,700 Active 43 DOM
12. 2026-06-03
    days on market $568,700 Active 42 DOM
13. 2026-06-02
    days on market $568,700 Active 41 DOM
14. 2026-06-01
    days on market $568,700 Active 40 DOM
15. 2026-05-31
    days on market $568,700 Active 39 DOM
16. 2026-05-30
    days on market $568,700 Active 38 DOM
17. 2026-04-22
    listed $568,700 Active
18. 2010-08-27
    soldstatus $249,900 364-char remark

    Show marketing remark (364 chars)

    NEW HOME MORADA BAY,MIDWAY BETWEEN CAPE CARTERET&MOREHEAD,LARGE BONUS ROOM.WONDERFUL DESIGN&FLOORPLAN.LARGE DINING ROOM.9'CEILINGS.GRANITE COUNTERTOPS.UPGRADED CABINETS.STAINLESS STEEL APPLIANCES.GATED COMMUNITY W/PLANNED WATER ACCESS.NICE LLAMA FARM W/RED BARN BEHIND THIS LOT.CULDESAC.A TOTALLY COOL HOME CONVENIENTLY LOCATED. FUTURE WATER ACCESS PLANNED

19. 2010-05-07
    listed $249,900 364-char remark

    Show marketing remark (364 chars)

    NEW HOME MORADA BAY,MIDWAY BETWEEN CAPE CARTERET&MOREHEAD,LARGE BONUS ROOM.WONDERFUL DESIGN&FLOORPLAN.LARGE DINING ROOM.9'CEILINGS.GRANITE COUNTERTOPS.UPGRADED CABINETS.STAINLESS STEEL APPLIANCES.GATED COMMUNITY W/PLANNED WATER ACCESS.NICE LLAMA FARM W/RED BARN BEHIND THIS LOT.CULDESAC.A TOTALLY COOL HOME CONVENIENTLY LOCATED. FUTURE WATER ACCESS PLANNED

20. 2010-03-18
    soldstatus $105,000

ⓘ 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: $1,370 · $114/mo
• Projected year-2 tax: $4,663 · $389/mo
• Expected delta: +$3,294/yr (+$274/mo · 240.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $178,774
• − Mortgage interest: −$31,856
• − Property taxes: −$1,370
• − Insurance: −$2,844
• − Repairs & maintenance: −$14,302
• − Management: −$14,302
• − HOA: −$384
• − Depreciation: −$16,544
• Taxable income: $97,173
• Est. tax owed @ 24.0%: −$23,321
• After-tax cash flow: $77,525/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 — Bogue

• Score: 65/100
• State rank: #311
• US rank: #13024

Category grades

Amenities F Commute F Cost of living A Crime C+ Employment A+ 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

+441.6% since first listed

4 events — show timeline

• 2026-04-22 Listed $568,700 Hive MLS
• 2010-08-27 Sold (MLS) $249,900 Hive MLS
• 2010-05-07 Listed $249,900 Hive MLS
• 2010-03-18 Sold (Public Records) $105,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,370 · +29.3% YoY. Source: county tax records.