2423 Pin Fish St SW · Holden Beach, NC 28462

$96,560

2 bd · 1.0 ba · 812 sqft · Manufactured · 76 Days on market

Built 1970 8,712 sqft lot Est $113k · 14% under

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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
• ARV discount +14.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tucked around oak trees, this coastal hideaway is packed with potential and just waiting for the right vision. Whether you're dreaming of a laid-back fish camp, a weekend beach escape, or your next investment opportunity, this one checks the boxes. Inside, you'll find a simple, functional layout with 2 bedrooms, 1 full bath, and an open kitchen and dining area that invites easy coastal living. Step outside to a covered front porch perfect for morning coffee, and imagine evenings gathered around a fire pit under the Carolina sky. The property includes a shipping container, ideal for storing all your beach toys, fishing gear, and outdoor essentials. Located on a state-maintained road, access

Key facts

• Covered front porch
• Shipping container
• Fire pit

Tags

• COVERED FRONT PORCH
• FIRE PIT
• SHIPPING CONTAINER
• STATE MAINTAINED ROAD
• 10 MINUTES TO HOLDEN BEACH
• NO HOA

Property features AI

Exterior

• Parking: Unpaved parking
• Utilities: Sewer available; Water available
• Home design: Manufactured home (residential); One level / single-story; Entry level: 1; Aluminum siding and frame construction
• Construction: Metal roof
• Exterior features: Covered porch; Deck; Storage (other structure); See remarks for other structures; Has a view

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 5 total rooms (bedrooms/other rooms not specified)
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air; Wall/window unit(s); Other cooling and heating present
• Interior features: Eat-in kitchen; Furnished; Electric water heater; Laminate flooring; No basement
• Laundry & utility: Washer hookup in hall

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $97k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $97k).
• Recommended offer: $91k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 3.1% in Holden Beach — 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 65/100 on livability (#334 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, housing A; Watch: cost of living D, health & safety 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.
• Zoned schools: Supply Elementary (math 46% / reading 39%, grade F, #625 of 1,410 statewide, top 45%, 539 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% FRL); West Brunswick High (math 50% / reading 56%, grade C-, #281 of 535 statewide, top 53%, 1,526 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: 506 active listings in the ZIP; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 31% of the median local income ($60k/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 $668 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $90,766 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.64% ✓
• Cap rate: 13.53%
• Cash-on-cash: 25.83%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $112,868
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2532 Barracuda St SW	0.14mi	2/1.0	812 (0%)	12mo	$90,000	$111	84
2614 Penny St SW	0.22mi	2/2.0	851 (+5%)	12mo	$80,000	$94	67
2610 Penny St SW	0.21mi	3/1.5 (+1)	861 (+6%)	12mo	$90,000	$105	63
2421 Mackerel St SW	0.06mi	2/2.0	924 (+14%)	10mo	$128,000	$139	62
2370 Seashore Rd SW	0.13mi	2/2.0	896 (+10%)	17mo	$175,000	$195	59
2580 Penny St SW	0.15mi	2/1.5	720 (-11%)	17mo	$70,000	$97	58
2508 Ocean Sound Cir SW	0.50mi	2/1.0	800 (-2%)	22mo	$104,000	$130	56
2460 Ocean Sound Cir SW	0.50mi	2/2.0	875 (+8%)	14mo	$197,000	$225	48
2452 Barracuda St SW	0.26mi	3/2.0 (+1)	924 (+14%)	16mo	$125,000	$135	42
2521 Wilkes St	0.23mi	3/2.0 (+1)	701 (-14%)	20mo	$104,000	$148	41
2689 Seacoast St SW	0.52mi	2/2.0	924 (+14%)	22mo	$159,000	$172	31
2529 Ocean Sound Cir SW	0.56mi	3/2.0 (+1)	910 (+12%)	18mo	$155,000	$170	30

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: 19.5%
• Equity multiple: 1.79×
• Total profit: $21,445
• Equity at exit: $14,397

10-year hold

• IRR: 27.8%
• Equity multiple: 3.46×
• Total profit: $66,503
• Equity at exit: $8,349

Cash invested: $27,037 (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 28462

• Active inventory: 506
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,581 medium
• Mortgage (P&I): −$506
• Tax est. 1.5%: −$121 /mo · $1,448/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $582

Break-even live

Break-even rent $845

Max offer price $96,560

Occupancy floor 58%

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: $24,140
• Closing costs: $2,897
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $96,560 Active 76 DOM
2. 2026-06-17
   days on market $96,560 Active 75 DOM
3. 2026-06-16
   days on market $96,560 Active 74 DOM
4. 2026-06-15
   days on market $96,560 Active 73 DOM
5. 2026-06-14
   days on market $96,560 Active 71 DOM
6. 2026-06-13
   days on market $96,560 Active 70 DOM
7. 2026-06-10
   days on market $96,560 Active 68 DOM
8. 2026-06-09
   days on market $96,560 Active 67 DOM
9. 2026-06-08
   days on market $96,560 Active 66 DOM
10. 2026-06-07
    days on market $96,560 Active 65 DOM
11. 2026-06-05
    days on market $96,560 Active 62 DOM
12. 2026-06-03
    days on market $96,560 Active 61 DOM
13. 2026-06-02
    days on market $96,560 Active 60 DOM
14. 2026-06-01
    days on market $96,560 Active 59 DOM
15. 2026-05-31
    days on market $96,560 Active 58 DOM
16. 2026-05-30
    days on market $96,560 Active 57 DOM
17. 2026-05-06
    price $104,656
18. 2026-04-03
    listed $115,000 Active
19. 2023-06-14
    soldstatus $75,000
20. 2000-04-01
    soldstatus $23,500

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,977
• − Mortgage interest: −$5,409
• − Property taxes: −$1,448
• − Insurance: −$483
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$2,809
• Taxable income: $5,792
• Est. tax owed @ 24.0%: −$1,390
• After-tax cash flow: $5,594/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 — Holden Beach

• Score: 65/100
• State rank: #334
• US rank: #13586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 12,340
• Household income: $60,349
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 269.0

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 (87%)
• Race & ethnicity: White 87% Black 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -259.44%
• Current HPI: 144.2462
• 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

Price history

+345.3% since first listed

4 events — show timeline

• 2026-05-06 Price Changed $104,656 Hive MLS
• 2026-04-03 Listed $115,000 Hive MLS
• 2023-06-14 Sold (Public Records) $75,000 Public Records
• 2000-04-01 Sold (Public Records) $23,500 Public Records

Property tax history

+2.4%/yr

Latest (2025): $182 · -0.2% YoY. Source: county tax records.