PEARSON TH Plan · Leland, NC 28451

$269,990

3 bd · 2.5 ba · 1,418 sqft · Townhouse · 116 Days on market

Excellent condition Garage

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Why this score? — see what drove the D- 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 +7.9/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Schools +4.8/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The Pearson floor plan is a 3-bedroom, 2.5-bath, 1,418 sq ft gem that combines modern convenience with style and charm. The Pearson is featured in our Indigo Preserve community in Leland, North Carolina. Step inside and discover a bright and airy open floor plan designed for both relaxing and entertaining. The kitchen is a showstopper with granite countertops, stainless steel appliances that are as durable as they are dazzling. The second floor features the primary bedroom with a walk-in closet and double vanities. It also includes two additional bedrooms, a shared bathroom, and a laundry room for convenience.

Key facts

• Open floor plan
• Walk-in closet
• Laundry room

Tags

• OPEN FLOOR PLAN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• DOUBLE VANITIES
• LAUNDRY ROOM

🏗️ New construction. The $269,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $286,270.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $270k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-305 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (10.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (21.6% below list).
• Recommended offer: $212k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.2% in Leland — 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 68/100 on livability (#177 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: health & safety D, amenities F, commute 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: Town Creek Elementary (math 50% / reading 53%, grade C-, #392 of 1,410 statewide, top 28%, 654 students, 100% FRL); Leland Middle (math 26% / reading 36%, grade F, #326 of 475 statewide, top 69%, 780 students, 100% FRL); North Brunswick High (math 57% / reading 49%, grade C-, #281 of 535 statewide, top 53%, 1,450 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: Rents rising (+1.2%/yr); 2008 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 31% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $9k 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 116 days — a 9% lower offer ($246k) is reasonable based on typical stale-listing flexibility.

Recommended offer $211,765 (21.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.74% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.57%
• DSCR: 0.80
• GRM: 11.3

CMA / ARV

• ARV (median comp): $286,270
• List price: $269,990
• Delta: -5.69%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5436 Mistflower St Lot 1029	0.03mi	3/2.5	1,418 (0%)	0mo	$279,999	$197	98
5440 Mistflower St Lot 1030	0.03mi	3/2.5	1,418 (0%)	1mo	$277,440	$196	98
5455 Mistflower St Lot 1037	0.03mi	3/2.5	1,418 (0%)	3mo	$276,640	$195	96
5416 Mistflower St Lot 1026	0.07mi	3/2.5	1,418 (0%)	2mo	$278,490	$196	95
2219 Sweetspire St Unit 2067	0.27mi	3/2.0	1,397 (-2%)	3mo	$319,999	$229	81
2215 Sweetspire St Unit 2068	0.28mi	3/2.0	1,397 (-2%)	3mo	$324,250	$232	80
3044 Bottlebrush Dr Unit 2081	0.33mi	3/2.0	1,397 (-2%)	1mo	$299,999	$215	80
2223 Sweetspire St Unit 2066	0.27mi	3/2.0	1,397 (-2%)	4mo	$323,090	$231	79
3041 Bottlebrush Dr #2037	0.35mi	3/2.0	1,397 (-2%)	0mo	$350,890	$251	79
3018 Bottlebrush Dr Unit 2079	0.35mi	3/2.0	1,397 (-2%)	0mo	$299,999	$215	79
4233 Allsbrook Ln Unit 1059	0.12mi	3/2.5	1,533 (+8%)	3mo	$282,540	$184	78
2307 Willbrook Ct	0.42mi	3/2.0	1,627 (+15%)	1mo	$410,000	$252	53

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -26.0%
• Equity multiple: 0.13×
• Total profit: $-69,493
• Equity at exit: $42,684

10-year hold

• IRR: -29.5%
• Equity multiple: -0.25×
• Total profit: $-100,028
• Equity at exit: $24,751

Cash invested: $80,155 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 27 active · 26 under contract
• Months of supply: 8.1 mo (12%/mo absorbed)
• Median asking: $299,999 ($194/sqft)
• Median days on market: 34 d
• This list price: 7% of active listings are priced below it
• ARV vs active asking: +4.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28451

• Rents YoY: 1.2%
• Active inventory: 2008
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,118 high
• Mortgage (P&I): −$1,501
• Tax est. 1.5%: −$358 /mo · $4,294/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $-305

Break-even live

Break-even rent $2,504

Max offer price $242,078

Occupancy floor —

Sensitivity live

Price	-10% $-108	-5% $-206	+0% $-305	+5% $-404	+10% $-503
Rent	-10% $-473	-5% $-389	+0% $-305	+5% $-222	+10% $-138
Rate	-1.0pp $-161	-0.5pp $-233	base $-305	+0.5pp $-380	+1.0pp $-455

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: $71,567
• Closing costs: $8,588
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4118 Hobblebush Dr Leland, NC	3.0–4.0	2.0–2.5	1580	$1,895	$1.20	0d	10	0.24mi
3100 Ascend Loop Belville, NC	1.0–3.0	1.0–2.0	1077	$2,382	$2.21	1d	77	0.32mi
3017 Inspire Dr Unit C2 Leland, NC	2.0	2.0	1572	$4,440	$2.82	24d	1	0.49mi
3017 Inspire Dr Unit B1D Leland, NC	2.0	2.0	1065	$2,390	$2.24	51d	1	0.49mi
3017 Inspire Dr Unit B1D Leland, NC	2.0	2.0	1065	$2,355	$2.21	24d	1	0.49mi
3017 Inspire Dr Unit C2 Leland, NC	2.0	2.0	1572	$4,440	$2.82	51d	1	0.49mi
6146 Liberty Hall Dr Leland, NC	1.0–2.0	1.0–2.0	1184	$4,710	$3.98	2d	25	0.54mi
7111 Rock Fish Ln Leland, NC	1.0–3.0	1.0–2.0	1093	$1,838	$1.68	0d	13	0.75mi
819 Meadowsweet Ln Leland, NC	2.0	2.0	1011	$2,300	$2.27	164d	1	1.01mi
2516 Centerway Ln Leland, NC	3.0	2.0	1475	$2,050	$1.39	7d	1	1.09mi
4162 High Glen Dr Unit 4162 , NC	3.0	2.5	1418	$2,000	$1.41	164d	1	1.11mi
5784 Harebell Rd Leland, NC	3.0	2.5	1418	$1,825	$1.29	38d	1	1.16mi
5784 Harebell Rd Unit 5784 Leland, NC	3.0	2.5	1418	$1,825	$1.29	1d	1	1.16mi
7010 Dunford Rd #114 Leland, NC	3.0	2.5	1418	$1,799	$1.27	31d	1	1.19mi
7010 Dunford Rd Leland, NC	3.0	2.5	1418	$1,799	$1.27	35d	1	1.19mi
7106 Dunford Rd #132 Leland, NC	3.0	2.5	1418	$1,866	$1.32	10d	1	1.22mi
7106 Dunford Rd Leland, NC	3.0	2.5	1418	$1,850	$1.30	11d	1	1.22mi
7106 Dunford Rd Leland, NC	3.0	2.5	1418	$1,850	$1.30	10d	1	1.22mi
3828 Starry Sky Rd Leland, NC	4.0	2.5	1772	$2,340	$1.32	10d	1	1.24mi
3820 Starry Sky Rd Leland, NC	4.0	2.5	1772	$2,475	$1.40	2d	1	1.26mi
3808 Starry Sky Rd Leland, NC	4.0	2.5	1772	$2,345	$1.32	5d	1	1.29mi
9113 Sunrise Creek Dr Leland, NC	3.0	2.0	1708	$2,215	$1.30	41d	1	1.30mi
9125 Sunrise Creek Dr Leland, NC	4.0	2.5	1772	$2,440	$1.38	164d	1	1.30mi
9112 Sunrise Creek Dr Leland, NC	3.0	2.0	1665	$2,145	$1.29	2d	1	1.33mi
6411 Lovely Xing Leland, NC	4.0	2.5	1772	$2,090	$1.18	41d	1	1.33mi
6415 Lovely Xing Leland, NC	3.0	2.0	1665	$2,199	$1.32	6d	1	1.34mi
3896 Starry Sky Rd Leland, NC	3.0	2.0	1708	$2,215	$1.30	2d	1	1.36mi
3907 Starry Sky Rd Leland, NC	3.0	2.0	1665	$2,294	$1.38	164d	1	1.37mi
79 Stoney Creek Ln Belville, NC	3.0	2.0	1017	$1,800	$1.77	162d	1	1.38mi
3915 Starry Sky Rd Leland, NC	3.0	2.0	1708	$2,090	$1.22	49d	1	1.39mi
7507 Tender Heart Cir Leland, NC	3.0	2.0	1708	$2,395	$1.40	6d	1	1.44mi
35 Stoney Creek Ln Belville, NC	3.0	2.5	1470	$1,995	$1.36	14d	1	1.45mi
35 Stoney Creek Ln Belville, NC	3.0	2.5	1470	$1,995	$1.36	10d	1	1.45mi
7519 Tender Heart Cir Leland, NC	3.0	2.0	1665	$2,215	$1.33	51d	1	1.47mi

Property features AI

Finance

• Financial info: List price $269,990

Exterior

• Parking: 1 garage space (1 total parking space)
• Home design: Townhome/attached dwelling (PEARSON TH plan)Listed as Active
• Construction: New construction plan (PEARSON TH)
• Exterior features: Living area approximately 1418

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Interior features: Plan-based new construction (PEARSON TH)

Listing history 50 events

1. 2026-11-08
   days on market $269,990 Active 116 DOM
2. 2026-11-07
   days on market $269,990 Active 115 DOM
3. 2026-11-06
   days on market $269,990 Active 114 DOM
4. 2026-11-05
   days on market $269,990 Active 113 DOM
5. 2026-11-04
   days on market $269,990 Active 112 DOM
6. 2026-11-02
   days on market $269,990 Active 110 DOM
7. 2026-11-01
   days on market $269,990 Active 109 DOM
8. 2026-10-31
   days on market $269,990 Active 108 DOM
9. 2026-10-30
   days on market $269,990 Active 107 DOM
10. 2026-10-29
    days on market $269,990 Active 106 DOM
11. 2026-10-28
    days on market $269,990 Active 105 DOM
12. 2026-10-27
    days on market $269,990 Active 104 DOM
13. 2026-10-26
    days on market $269,990 Active 103 DOM
14. 2026-10-26
    days on market $269,990 Active 102 DOM
15. 2026-10-24
    days on market $269,990 Active 101 DOM
16. 2026-10-23
    days on market $269,990 Active 100 DOM
17. 2026-10-22
    days on market $269,990 Active 99 DOM
18. 2026-10-21
    days on market $269,990 Active 98 DOM
19. 2026-10-20
    days on market $269,990 Active 97 DOM
20. 2026-10-19
    days on market $269,990 Active 96 DOM
21. 2026-10-18
    days on market $269,990 Active 95 DOM
22. 2026-10-17
    days on market $269,990 Active 94 DOM
23. 2026-10-16
    days on market $269,990 Active 93 DOM
24. 2026-10-15
    days on market $269,990 Active 92 DOM
25. 2026-10-14
    days on market $269,990 Active 91 DOM
26. 2026-10-13
    days on market $269,990 Active 90 DOM
27. 2026-10-12
    days on market $269,990 Active 89 DOM
28. 2026-10-11
    days on market $269,990 Active 88 DOM
29. 2026-10-10
    days on market $269,990 Active 87 DOM
30. 2026-10-09
    days on market $269,990 Active 86 DOM
31. 2026-10-08
    days on market $269,990 Active 85 DOM
32. 2026-10-07
    days on market $269,990 Active 84 DOM
33. 2026-10-06
    days on market $269,990 Active 83 DOM
34. 2026-10-05
    days on market $269,990 Active 82 DOM
35. 2026-10-04
    days on market $269,990 Active 81 DOM
36. 2026-10-03
    days on market $269,990 Active 80 DOM
37. 2026-10-02
    days on market $269,990 Active 79 DOM
38. 2026-10-01
    days on market $269,990 Active 78 DOM
39. 2026-09-30
    days on market $269,990 Active 77 DOM
40. 2026-09-29
    days on market $269,990 Active 76 DOM
41. 2026-09-28
    days on market $269,990 Active 75 DOM
42. 2026-09-27
    days on market $269,990 Active 74 DOM
43. 2026-09-26
    days on market $269,990 Active 72 DOM
44. 2026-09-24
    days on market $269,990 Active 71 DOM
45. 2026-09-23
    days on market $269,990 Active 70 DOM
46. 2026-09-22
    days on market $269,990 Active 69 DOM
47. 2026-09-21
    days on market $269,990 Active 68 DOM
48. 2026-09-20
    days on market $269,990 Active 67 DOM
49. 2026-09-19
    days on market $269,990 Active 66 DOM
50. 2026-09-18
    days on market $269,990 Active 65 DOM

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

Taxation est. · year 1

• Rental income: $25,412
• − Mortgage interest: −$16,036
• − Property taxes: −$4,294
• − Insurance: −$1,431
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$8,328
• Taxable loss: −$8,743
• Est. tax savings @ 24.0%: +$2,098
• After-tax cash flow: $-1,567/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 · 13 photos

Excellent 100/100 None rehab

This Pearson floor plan townhouse in Leland, NC is in excellent condition with no visible repairs needed. It offers a bright and airy open floor plan, modern amenities, and a well-maintained exterior. Potential value-adding updates include painting the exterior and landscaping improvements.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and value. ↑
• Both Add a smart home system — Improves convenience and marketability. ↑
• Both Install smart thermostat — Saves energy and improves comfort. ↑

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Town Creek Elementary C- NC #392/1,410 Nat'l #12,137/41,679 Middle Town Creek Middle F NC #238/475 Nat'l #6,362/14,009 High North Brunswick High C- NC #281/535 Nat'l #4,893/17,239

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

C Composite livability gradescore 68/100

Livability — Leland

• Score: 68/100
• State rank: #177
• US rank: #9158

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

• Census place: Leland, NC
• County: Brunswick County · 152,111 people
• City population: 46,933
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 46,933
• Household income: $81,481
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 12% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

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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: ▼ -99.99%
• Current HPI: 148.6217
• Rent YoY: ▲ 1.24%
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

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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

Property features AI

Finance

• Financial info: List price $269,990

Exterior

• Parking: 1 garage space (1 total parking space)
• Home design: Townhome/attached dwelling (PEARSON TH plan)Listed as Active
• Construction: New construction plan (PEARSON TH)
• Exterior features: Living area approximately 1418

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Interior features: Plan-based new construction (PEARSON TH)