8785 Northridge Dr · Leland, NC 28451

$264,990

3 bd · 1.5 ba · 1,404 sqft · Manufactured public records · 157 Days on market

Built 1992 0.52 ac lot Est $223k · 19% over

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Why this score? — see what drove the F 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 +14.0/30.0
• DSCR +4.2/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully updated 3-bedroom, 2-bath double-wide home in Leland, NC, offering 1,404 sq ft on a spacious 0.52-acre lot. With no HOA and no subdivision, you'll enjoy the freedom to make the space truly your own while staying close to all of Leland's conveniences. Inside, the home shines with major upgrades throughout, including granite countertops, new appliances, and stylishly updated bathrooms. The open floor plan and split-bedroom layout offer both comfort and privacy. Outside, the generous lot provides plenty of room for parking, gardening, or outdoor living. Centrally located and move-in ready, this home is the perfect blend of space, upgrades, and accessibility.

Key facts

• Open floor plan
• Split-bedroom layout
• Generous lot

Tags

• GRANITE COUNTERTOPS
• NEW APPLIANCES
• UPDATED BATHROOMS
• OPEN FLOOR PLAN
• SPLIT-BEDROOM LAYOUT
• GENEROUS LOT

Property features AI

Exterior

• Parking: Unpaved parking
• Utilities: Public water; Sewer connected; Water connected
• Home design: Manufactured home; Single-story (one level); Entry level: 1
• Construction: Vinyl siding; Frame construction; Metal roof; Crawl space / no basement
• Exterior features: No notable exterior features listed; No patio or porch; No fencing; Has a view

Interior

• Kitchen: Refrigerator; Range; Dishwasher
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Wall furnace (electric)
• Interior features: Walk-in closet(s); Window coverings
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $265k.

Deal economics

• At list price, monthly cash flow is $32 ($386/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 $203k (23.4% below list).
• Recommended offer: $203k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Lincoln Elementary (math 44% / reading 37%, grade F, #682 of 1,410 statewide, top 49%, 675 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); 1213 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

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 157 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $100k; list at $265k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,958 (23.4% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.77% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.52%
• DSCR: 1.02
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $223,236
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
929 Lanvale Rd NE	0.21mi	3/2.0	1,512 (+8%)	1mo	$239,900	$159	75

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: -17.2%
• Equity multiple: 0.40×
• Total profit: $-44,552
• Equity at exit: $39,511

10-year hold

• IRR: -12.4%
• Equity multiple: 0.32×
• Total profit: $-50,672
• Equity at exit: $22,911

Cash invested: $74,197 (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 28451

• Rents YoY: 1.2%
• Active inventory: 1213
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,030 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$71 /mo · $854/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $32

Break-even live

Break-even rent $1,989

Max offer price $264,990

Occupancy floor 93%

Sensitivity live

Price	-10% $182	-5% $107	+0% $32	+5% $-43	+10% $-118
Rent	-10% $-128	-5% $-48	+0% $32	+5% $112	+10% $193
Rate	-1.0pp $166	-0.5pp $100	base $32	+0.5pp $-36	+1.0pp $-106

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: $66,248
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
824 Rolling Pines Loop Rd NE Leland, NC	3.0	2.0	1240	$2,000	$1.61	15d	1	0.46mi
8759 Lanvale Oaks Dr NE Leland, NC	3.0	2.0	1360	$2,100	$1.54	24d	1	0.52mi
9102 Pine Notch Rd Leland, NC	3.0–5.0	2.0–3.0	2064	$2,155	$1.04	15d	5	0.63mi
5019 McGarvey Ct Leland, NC	3.0	2.5	1726	$1,990	$1.15	24d	1	0.78mi
6012 Beckington Dr Leland, NC	3.0	2.5–3.0	1712	$1,968	$1.15	15d	15	0.80mi
5043 McGarvey Ct Leland, NC	3.0	2.5	1726	$1,990	$1.15	24d	1	0.81mi
6032 Beckington Dr Leland, NC	3.0	2.5	1726	$1,990	$1.15	24d	1	0.82mi
6300 Beckington Dr Leland, NC	3.0	3.0	1698	$1,714	$1.01	24d	1	0.82mi
6040 Beckington Dr Leland, NC	3.0	2.5	1726	$2,040	$1.18	24d	1	0.82mi
6323 Beckington Dr Leland, NC	3.0	3.0	1698	$1,915	$1.13	24d	1	0.85mi
6339 Beckington Dr Leland, NC	3.0	3.0	1698	$1,714	$1.01	24d	1	0.86mi
6088 Beckington Dr Leland, NC	3.0	2.5	1726	$2,040	$1.18	24d	1	0.88mi
7008 Crew Dr Leland, NC	3.0	3.0	1698	$1,915	$1.13	24d	1	0.89mi
6100 Beckington Dr Leland, NC	3.0	2.5	1726	$1,990	$1.15	24d	1	0.89mi
7028 Crew Dr Leland, NC	3.0	3.0	1698	$1,915	$1.13	24d	1	0.89mi
6108 Beckington Dr Leland, NC	3.0	2.5	1726	$2,040	$1.18	24d	1	0.90mi
6216 Beckington Dr Leland, NC	3.0	2.5	1726	$2,040	$1.18	24d	1	0.90mi
7052 Crew Dr Leland, NC	3.0	3.0	1698	$1,915	$1.13	24d	1	0.90mi
1114 Forest Glen Dr NE Leland, NC	3.0	2.0	1343	$2,100	$1.56	24d	1	1.09mi
1300 Hidden Creek Dr NE Leland, NC	3.0	2.5	1360	$2,100	$1.54	22d	1	1.13mi
304 Bedstone DR Leland, NC	3.0–4.0	2.0–2.5	1669	$2,029	$1.22	15d	1	1.31mi

Listing history 15 events

1. 2026-04-22
   status Active
2. 2026-04-16
   historical
3. 2026-03-26
   status Active
4. 2026-03-26
   historical
5. 2026-03-21
   status Active
6. 2026-03-18
   historical
7. 2025-12-12
   listed $264,990 Active
8. 2025-11-10
   price $268,900
9. 2025-10-20
   status Active
10. 2025-09-14
    status Pending
11. 2025-09-14
    historical
12. 2025-08-02
    listed $270,000 Active
13. 2025-07-30
    historical
14. 2025-04-25
    soldstatus $100,000
15. 2000-04-01
    soldstatus $9,000

ⓘ 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: $854 · $71/mo
• Projected year-2 tax: $2,173 · $181/mo
• Expected delta: +$1,319/yr (+$110/mo · 154.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% 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: $24,355
• − Mortgage interest: −$14,844
• − Property taxes: −$854
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,948
• − Management: −$1,948
• − Depreciation: −$7,709
• Taxable loss: −$4,273
• Est. tax savings @ 24.0%: +$1,025
• After-tax cash flow: $1,412/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

• Census place: Leland, NC
• County: Brunswick County · 131,536 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: 1049.0

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 (71%)
• Race & ethnicity: White 71% Black 12% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 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: ▼ -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

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

+2844.3% since first listed

15 events — show timeline

• 2026-04-22 Relisted — Hive MLS
• 2026-04-16 Listing Removed — Hive MLS
• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-03-21 Relisted — Hive MLS
• 2026-03-18 Listing Removed — Hive MLS
• 2025-12-12 Listed $264,990 Hive MLS
• 2025-11-10 Price Changed $268,900 Hive MLS
• 2025-10-20 Relisted — Hive MLS
• 2025-09-14 Pending — Hive MLS
• 2025-09-14 Listing Removed — Hive MLS
• 2025-08-02 Listed $270,000 Hive MLS
• 2025-07-30 Coming Soon — Hive MLS
• 2025-04-25 Sold (Public Records) $100,000 Public Records
• 2000-04-01 Sold (Public Records) $9,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $854 · +0.0% YoY. Source: county tax records.