CALI Plan · Oak Island, NC 28422

$323,990

4 bd · 2.0 ba · 1,774 sqft · SingleFamily · 29 Days on market

Good condition

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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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Condition / age +4.2/5.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The Cali is one of our one-story floorplans featured in our Mariners Reach in Bolivia, NC. With 3 modern exteriors to choose from, the Cali is sure to turn heads. To top it off, it's one of our floorplans that offers a 2-car garage. Inside 4-bedroom, 2-bathroom home, you'll find 1,774 square feet of comfortable living. The living area is an open concept, where your kitchen, living, and dining areas blend seamlessly into a space perfect for everyday living and entertaining. The kitchen features beautiful cabinets, granite countertops, and stainless-steel appliances, which are sure to both turn heads and make meal prep easy. You'll never be too far from the action with the living and dining a

Key facts

• One story floorplans
• Open concept
• Attached bathroom

Tags

• ONE STORY FLOORPLANS
• OPEN CONCEPT
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• ATTACHED BATHROOM
• WALK IN CLOSET

Property features AI

Finance

• Financial info: List price $323,990

Exterior

• Home design: Single-family plan home; Located at 1948 Clemmons Rd SE, Bolivia NC
• Construction: New construction (Plan CALI); Built 2026

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home (CALI)

🏗️ New construction. The $323,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $273,196.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $324k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• To cash-flow at today's rent, offer at most $322k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (13.0% below list).
• Recommended offer: $282k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 2.8% in Oak Island — 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 67/100 on livability (#233 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: health & safety D, schools 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.
• Market conditions: 569 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• At $2,819/mo this rent would consume 49% of the median local household income ($69k/yr) (locally 243% 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 $2k of loan paydown is wiped out by about $8k 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 29 days — a 2% lower offer ($319k) is reasonable based on typical stale-listing flexibility.

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 $281,931 (13.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $273,196
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1567 Judith Dr SE	0.33mi	4/2.5	1,800 (+2%)	6mo	$280,900	$156	75
1695 Haldon Ln SE	0.57mi	4/2.0	1,768 (-0%)	4mo	$334,900	$189	70
1576 Gate Hill Rd SE	0.50mi	4/2.5	1,800 (+2%)	10mo	$267,900	$149	64
1374 Patti Ln SE	0.53mi	4/2.5	1,800 (+2%)	11mo	$277,900	$154	62
1406 Judith Dr SE	0.59mi	4/2.5	1,800 (+2%)	8mo	$280,900	$156	62
1432 Judith Dr SE	0.53mi	4/2.5	1,861 (+5%)	5mo	$262,000	$141	61
1596 Gate Hill Rd SE	0.44mi	3/2.5 (-1)	1,800 (+2%)	12mo	$277,900	$154	60
1487 Round Ridge Rd SE	0.54mi	3/2.5 (-1)	1,757 (-1%)	9mo	$264,900	$151	58
1562 King Lucius Way SE Lot 114	0.71mi	4/2.0	1,774 (0%)	12mo	$290,999	$164	57
1571 Gate Hill Rd SE	0.51mi	3/2.5 (-1)	1,679 (-5%)	9mo	$255,900	$152	53
1703 Haldon Ln SE	0.54mi	3/2.0 (-1)	1,652 (-7%)	8mo	$316,500	$192	52
1555 Gate Hill Rd SE	0.55mi	3/2.5 (-1)	1,679 (-5%)	8mo	$258,900	$154	51

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: -8.0%
• Equity multiple: 0.70×
• Total profit: $-22,619
• Equity at exit: $40,734

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $8,299
• Equity at exit: $23,621

Cash invested: $76,495 (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 28422

• Home prices YoY: -23.8%
• Active inventory: 569
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,819 medium
• Mortgage (P&I): −$1,433
• Tax est. 1.5%: −$341 /mo · $4,098/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $339

Break-even live

Break-even rent $2,390

Max offer price $273,196

Occupancy floor 83%

Sensitivity live

Price	-10% $528	-5% $434	+0% $339	+5% $245	+10% $150
Rent	-10% $117	-5% $228	+0% $339	+5% $451	+10% $562
Rate	-1.0pp $477	-0.5pp $409	base $339	+0.5pp $268	+1.0pp $196

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: $68,299
• Closing costs: $8,196
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2208 Lakefront Dr SE Bolivia, NC	3.0–4.0	2.0–2.5	1595	$2,588	$1.62	15d	61	1.26mi
1004 Arborside Cir Bolivia, NC	1.0–3.0	1.0–2.5	1307	$2,170	$1.66	15d	15	1.37mi

Listing history 16 events

1. 2026-06-18
   days on market $323,990 Active 29 DOM
2. 2026-06-17
   days on market $323,990 Active 28 DOM
3. 2026-06-16
   days on market $323,990 Active 27 DOM
4. 2026-06-15
   days on market $323,990 Active 26 DOM
5. 2026-06-14
   days on market $323,990 Active 24 DOM
6. 2026-06-13
   days on market $323,990 Active 23 DOM
7. 2026-06-10
   days on market $323,990 Active 21 DOM
8. 2026-06-09
   days on market $323,990 Active 20 DOM
9. 2026-06-08
   days on market $323,990 Active 19 DOM
10. 2026-06-07
    days on market $323,990 Active 18 DOM
11. 2026-06-05
    days on market $323,990 Active 15 DOM
12. 2026-06-03
    days on market $323,990 Active 14 DOM
13. 2026-06-02
    days on market $323,990 Active 13 DOM
14. 2026-06-01
    days on market $323,990 Active 12 DOM
15. 2026-05-31
    days on market $323,990 Active 11 DOM
16. 2026-05-30
    days on market $323,990 Active 10 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $33,832
• − Mortgage interest: −$15,303
• − Property taxes: −$4,098
• − Insurance: −$1,366
• − Repairs & maintenance: −$2,707
• − Management: −$2,707
• − Depreciation: −$7,948
• Taxable loss: −$296
• Est. tax savings @ 24.0%: +$71
• After-tax cash flow: $4,142/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.

Condition & rehab AI · 29 photos

Good 85/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It's move-in ready and would benefit from a fresh coat of paint and smart home integration to further enhance its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace window screens — Improves energy efficiency and aesthetics
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace window screens — Improves energy efficiency and aesthetics ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Oak Island

• Score: 67/100
• State rank: #233
• US rank: #10757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 8,756
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 10,059
• Household income: $69,412
• Rent vs Own: 13.7% rent · 86.3% own
• Severe rent burden: 243.0

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 (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 8% Hispanic / Latino 3% Native American 1%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -44.19%
• Current HPI: 141.1956
• 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