849 Haw Creek Ave NE · Leland, NC 28479

$289,990

4 bd · 2.5 ba · 1,946 sqft · SingleFamily · 59 Days on market

Built 2026 4,356 sqft lot $100/mo HOA · 4% of rent

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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 +8.1/30.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0

Listing remarks

Welcome to Bell Creek where you can own a new home nestled in a serene setting with tranquil tree-lined homesites, while being conveniently located near everyday conveniences in Wilmington & Leland. The Sequoia is just as inviting as it is functional. Discover a thoughtfully designed two-story floor plan with efficient living and a bright flex space. The welcoming great room effortlessly flows into the kitchen and dining area, so you never miss a moment. Add an optional patio or covered porch for those warm summer nights and use the convenient garage entry to control clutter after coming home to your two-car garage. On the second floor, four well-proportioned bedrooms await, including

Key facts

• Covered porch
• Bright flex space
• Welcoming great room

Tags

• TWO-STORY FLOOR PLAN
• BRIGHT FLEX SPACE
• WELCOMING GREAT ROOM
• OPTIONAL PATIO
• COVERED PORCH
• CONVENIENT GARAGE ENTRY

Property features AI

Finance

• Other: Pets allowed; Private road access; Paved road frontage; Zoning: CI; Subdivision: Bell Creek
• HOA & community: Homeowners association with annual fee of $1,200 (about $100/month); Association provides grounds maintenance; Community pool; Street lights

Exterior

• Parking: 2 total parking spaces; Attached 2-car garage; Garage faces front; Garage door opener; Concrete driveway; Paved
• Security: Smoke detector(s)
• Utilities: Public water; Sewer available; Water available; Lighting and thermostat energy-saving features
• Home design: Single-family residence; Two levels; Entry level: 1; New construction
• Construction: Vinyl siding and frame construction; Slab foundation; Has home warranty
• Exterior features: Shingle roof; No patio or porch; No pool; No fencing; View

Interior

• Kitchen: Electric oven; Electric cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator; Kitchen island; Pantry
• Bedrooms: Total rooms: 8
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air; Zoned cooling; Electric heating; Forced air; Zoned heating
• Interior features: Walk-in closets; Entrance foyer; Kitchen island; Pantry; Smoke detector(s); Accessible full bath; Unfurnished
• Laundry & utility: Laundry room; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-284 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (20.5% below list).
• Recommended offer: $230k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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: Bolivia Elementary (math 50% / reading 43%, grade D-, #542 of 1,410 statewide, top 39%, 496 students, 99% FRL); South Brunswick Middle (math 41% / reading 49%, grade D, #160 of 475 statewide, top 35%, 572 students, 100% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 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: 188 active listings in the ZIP; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.2% local appreciation)).
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Recommended offer $230,411 (20.5% 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 59 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.79% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.19%
• DSCR: 0.81
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.89×
• Total profit: $-9,234
• Equity at exit: $102,533

10-year hold

• IRR: 2.7%
• Equity multiple: 1.34×
• Total profit: $27,663
• Equity at exit: $139,033

Cash invested: $81,197 (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 28479

• Home prices YoY: 0.8%
• Active inventory: 188
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,304 medium
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$100
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $-284

Break-even live

Break-even rent $2,663

Max offer price $248,922

Occupancy floor —

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: $72,498
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 5 events

1. 2026-06-02
   status $289,990 Pending 59 DOM
2. 2026-06-01
   days on market $289,990 Active 59 DOM
3. 2026-05-31
   days on market $289,990 Active 58 DOM
4. 2026-05-30
   days on market $289,990 Active 57 DOM
5. 2026-04-02
   listed $289,990 Active

ⓘ 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: $27,649
• − Mortgage interest: −$16,244
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,212
• − Management: −$2,212
• − HOA: −$1,200
• − Depreciation: −$8,436
• Taxable loss: −$8,454
• Est. tax savings @ 24.0%: +$2,029
• After-tax cash flow: $-1,377/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 — 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

• City population: 46,933
• Population (ZIP): 6,971

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 (72%)
• Race & ethnicity: White 72% Black 13% Two or more races 13% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Slovak 2% Italian 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 3%

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: ▲ 1.23%
• Current HPI: 159.4516
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-04-02 Listed $289,990 Hive MLS