11 Court 5 Northwest Dr · Carolina Shores, NC 28467

$265,000

3 bd · 2.0 ba · 1,396 sqft · SingleFamily public records · 803 Days on market

Built 1992 6,970 sqft lot Est $293k · 10% under $29/mo HOA · 1% of rent

---

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 +15.9/30.0
• ARV discount +11.8/15.0
• DSCR +4.9/10.0
• Schools +3.9/10.0
• 1% rule +3.4/10.0
• 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

Cute move-in ready Carolina Shores home. Home is a great buy for the subdivision and offers a popular split bedroom floor plan! Great kitchen with tile flooring, a tile back splash, breakfast nook, breakfast bar and pantry. Spacious living room with vaulted ceilings, plant shelving with decorative lighting and a formal dining area. The guest wing has privacy doors separating it from the living area of the home, comfortable bedrooms and a neat bathroom. Home has been well maintained and is ready for new owners. Subdivision has nice amenities and low POA dues. Conveniently located near beaches, shopping, dining, golf and schools. Low property taxes!

Key facts

• New hvac 2022
• New roof 2018
• 6,970 sq ft lot

Tags

• NEW ROOF 2018
• NEW HVAC 2022

Property features AI

Finance

• Other: Zoning: R6; Subdivision: Carolina Shores
• HOA & community: Homeowners association with annual fee (approximately $350/year); Community pool; Community amenities include clubhouse, picnic area, basketball court, tennis courts/sport court

Exterior

• Parking: Attached 2-car garage with garage door opener; Garage faces front; Concrete, paved driveway; Off-street parking
• Utilities: Public water; Sewer available; Water available
• Home design: Single-family residence; One story; Entry level: 1st floor
• Construction: Wood siding and frame construction; Slab foundation
• Exterior features: Patio; Storm door(s); No fencing; Shingle roof; Has a view; Paved road access

Interior

• Kitchen: Refrigerator; Dishwasher
• Bedrooms: Master downstairs
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating and cooling; Electric heating (as supplemental)
• Interior features: Master suite on the main level; Vaulted ceilings; Tray ceilings; Ceiling fans
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $61 ($736/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (15.8% below list).
• Recommended offer: $223k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.9% in Carolina Shores — 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 64/100 on livability (#352 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B+; 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: Jessie Mae Monroe Elementary (math 43% / reading 41%, grade F, #633 of 1,410 statewide, top 48%, 394 students, 99% FRL); Shallotte Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 674 students, 100% 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: 703 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 36% of the median local income ($75k/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 $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 803 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $60k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $158k; list at $265k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,031 (15.8% below list)

Questions for the listing agent

1. It's been on market 803 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $293,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Court 11 Northwest Dr	0.33mi	3/2.0	1,430 (+2%)	6mo	$285,000	$199	76
11 Court 11 Northwest Dr NW	0.33mi	3/2.0	1,450 (+4%)	6mo	$291,938	$201	73
25 Gate 6	0.45mi	3/2.0	1,356 (-3%)	8mo	$285,000	$210	67
98 Northeast Dr NW	0.15mi	3/2.0	1,583 (+13%)	7mo	$359,900	$227	64
62 Northeast Dr NW	0.20mi	3/2.0	1,570 (+12%)	8mo	$347,000	$221	63
2 Sage Ct	0.57mi	3/2.0	1,545 (+11%)	3mo	$385,000	$249	53
4 Sage Ct	0.58mi	3/2.0	1,292 (-7%)	9mo	$151,276	$117	53
513 Crooked Pine Pl SW	0.72mi	2/2.0 (-1)	1,316 (-6%)	1mo	$226,000	$172	51
193 Woodyard Dr NW	0.50mi	3/2.0	1,583 (+13%)	5mo	$359,900	$227	50
434 Deer Path	0.69mi	3/2.0	1,525 (+9%)	8mo	$180,000	$118	46
13 Calabash Dr	0.64mi	2/2.0 (-1)	1,256 (-10%)	8mo	$266,000	$212	41
463 Saltaire Dr SW	0.70mi	3/2.0	1,587 (+14%)	8mo	$277,500	$175	38

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: -14.7%
• Equity multiple: 0.47×
• Total profit: $-39,079
• Equity at exit: $39,512

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-29,186
• Equity at exit: $22,912

Cash invested: $74,200 (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 28467

• Home prices YoY: -33.7%
• Active inventory: 703
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,230 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$105 /mo · $1,260/yr
• Insurance: −$110
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$29
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $61

Break-even live

Break-even rent $2,153

Max offer price $265,000

Occupancy floor 92%

Sensitivity live

Price	-10% $211	-5% $136	+0% $61	+5% $-14	+10% $-89
Rent	-10% $-115	-5% $-27	+0% $61	+5% $149	+10% $238
Rate	-1.0pp $195	-0.5pp $129	base $61	+0.5pp $-7	+1.0pp $-77

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1035 Brightwater Way Calabash, NC	1.0–3.0	1.0–2.5	1327	$2,145	$1.62	25d	1	0.92mi
1016 Harbor Dr Calabash, NC	4.0	2.0	1780	$2,400	$1.35	15d	1	1.09mi
891 Mh Marina Rd #3 Carolina Shores, NC	2.0	2.0	1250	$1,300	$1.04	15d	1	1.13mi
660 Aubrey Ln Calabash, NC	1.0–2.0	1.0–2.0	1081	$2,870	$2.65	15d	69	1.15mi
2033 Wild Indigo CIR NW Calabash, NC	3.0	3.0	1457	$1,775	$1.22	25d	1	1.20mi
1063 Harbor Dr Calabash, NC	3.0	2.0	1421	$2,200	$1.55	23d	1	1.23mi
834 Greenwood Ct Calabash, NC	3.0	2.0	1475	$2,100	$1.42	15d	1	1.34mi
3021 Siskin Dr NW Calabash, NC	2.0–3.0	2.0–2.5	1557	$2,279	$1.46	15d	46	1.35mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,292	$1.62	23d	51	1.46mi

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 39 events

1. 2026-06-22
   days on market $265,000 Active 803 DOM
2. 2026-06-18
   days on market $265,000 Active 800 DOM
3. 2026-06-17
   days on market $265,000 Active 799 DOM
4. 2026-06-16
   days on market $265,000 Active 798 DOM
5. 2026-06-15
   days on market $265,000 Active 797 DOM
6. 2026-06-14
   days on market $265,000 Active 795 DOM
7. 2026-06-13
   days on market $265,000 Active 794 DOM
8. 2026-06-10
   days on market $265,000 Active 792 DOM
9. 2026-06-09
   days on market $265,000 Active 791 DOM
10. 2026-06-08
    days on market $265,000 Active 790 DOM
11. 2026-06-07
    days on market $265,000 Active 789 DOM
12. 2026-06-05
    days on market $265,000 Active 786 DOM
13. 2026-06-03
    days on market $265,000 Active 785 DOM
14. 2026-06-02
    days on market $265,000 Active 784 DOM
15. 2026-06-01
    days on market $265,000 Active 783 DOM
16. 2026-05-31
    days on market $265,000 Active 782 DOM
17. 2026-05-30
    days on market $265,000 Active 781 DOM
18. 2026-05-12
    price $265,000
19. 2026-04-20
    price $269,000
20. 2026-04-20
    price $2,690,000
21. 2026-03-22
    price $289,500
22. 2026-01-23
    price $295,000
23. 2025-11-19
    price $312,900
24. 2024-05-03
    price $315,000
25. 2024-04-07
    listed $325,000 Active
26. 2024-01-09
    historical
27. 2023-10-03
    price $299,900
28. 2023-09-08
    price $315,000
29. 2023-08-08
    listed $325,000 Active
30. 2018-05-23
    soldstatus $158,000 655-char remark

    Show marketing remark (655 chars)

    Cute move-in ready Carolina Shores home. Home is a great buy for the subdivision and offers a popular split bedroom floor plan! Great kitchen with tile flooring, a tile back splash, breakfast nook, breakfast bar and pantry. Spacious living room with vaulted ceilings, plant shelving with decorative lighting and a formal dining area. The guest wing has privacy doors separating it from the living area of the home, comfortable bedrooms and a neat bathroom. Home has been well maintained and is ready for new owners. Subdivision has nice amenities and low POA dues. Conveniently located near beaches, shopping, dining, golf and schools. Low property taxes!

31. 2018-05-23
    soldstatus $158,000

    Show marketing remark (655 chars)

    Cute move-in ready Carolina Shores home. Home is a great buy for the subdivision and offers a popular split bedroom floor plan! Great kitchen with tile flooring, a tile back splash, breakfast nook, breakfast bar and pantry. Spacious living room with vaulted ceilings, plant shelving with decorative lighting and a formal dining area. The guest wing has privacy doors separating it from the living area of the home, comfortable bedrooms and a neat bathroom. Home has been well maintained and is ready for new owners. Subdivision has nice amenities and low POA dues. Conveniently located near beaches, shopping, dining, golf and schools. Low property taxes!

32. 2018-01-08
    listed $169,900 655-char remark

    Show marketing remark (655 chars)

    Cute move-in ready Carolina Shores home. Home is a great buy for the subdivision and offers a popular split bedroom floor plan! Great kitchen with tile flooring, a tile back splash, breakfast nook, breakfast bar and pantry. Spacious living room with vaulted ceilings, plant shelving with decorative lighting and a formal dining area. The guest wing has privacy doors separating it from the living area of the home, comfortable bedrooms and a neat bathroom. Home has been well maintained and is ready for new owners. Subdivision has nice amenities and low POA dues. Conveniently located near beaches, shopping, dining, golf and schools. Low property taxes!

33. 2016-06-25
    historical
34. 2016-01-27
    listed $164,900
35. 2009-02-15
    historical
36. 2008-08-15
    listed $174,900
37. 2005-06-02
    soldstatus $163,000
38. 2005-06-01
    soldstatus $163,000
39. 2004-11-15
    listed $164,900

ⓘ 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: $1,260 · $105/mo
• Projected year-2 tax: $2,173 · $181/mo
• Expected delta: +$913/yr (+$76/mo · 72.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 18 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: $26,764
• − Mortgage interest: −$14,844
• − Property taxes: −$1,260
• − Insurance: −$2,122
• − Repairs & maintenance: −$2,141
• − Management: −$2,141
• − HOA: −$348
• − Depreciation: −$7,709
• Taxable loss: −$3,802
• Est. tax savings @ 24.0%: +$913
• After-tax cash flow: $1,649/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 — Carolina Shores

• Score: 64/100
• State rank: #352
• US rank: #13907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carolina Shores, NC
• County: Brunswick County · 131,536 people
• City population: 13,313
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 13,313
• Household income: $75,341
• Rent vs Own: 10.4% rent · 89.6% own
• Severe rent burden: 81.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% 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: ▼ -67.90%
• Current HPI: 133.7186
• 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

+60.7% since first listed

22 events — show timeline

• 2026-05-12 Price Changed $265,000 Hive MLS
• 2026-04-20 Price Changed $269,000 Hive MLS
• 2026-04-20 Price Changed $2,690,000 Hive MLS
• 2026-03-22 Price Changed $289,500 Hive MLS
• 2026-01-23 Price Changed $295,000 Hive MLS
• 2025-11-19 Price Changed $312,900 Hive MLS
• 2024-05-03 Price Changed $315,000 Hive MLS
• 2024-04-07 Listed $325,000 Hive MLS
• 2024-01-09 Listing Removed — Hive MLS
• 2023-10-03 Price Changed $299,900 Hive MLS
• 2023-09-08 Price Changed $315,000 Hive MLS
• 2023-08-08 Listed $325,000 Hive MLS
• 2018-05-23 Sold (Public Records) $158,000 Public Records
• 2018-05-23 Sold (MLS) $158,000 Hive MLS
• 2018-01-08 Listed $169,900 Hive MLS
• 2016-06-25 Listing Removed — Hive MLS
• 2016-01-27 Listed $164,900 Hive MLS
• 2009-02-15 Listing Removed — Hive MLS
• 2008-08-15 Listed $174,900 Hive MLS
• 2005-06-02 Sold (Public Records) $163,000 Public Records
• 2005-06-01 Sold (MLS) $163,000 Hive MLS
• 2004-11-15 Listed $164,900 Hive MLS

Property tax history

+3.5%/yr

Latest (2025): $1,260 · +0.0% YoY. Source: county tax records.