285 Riverside Dr SW · Varnamtown, NC 28462

$265,000

3 bd · 2.0 ba · 1,262 sqft · SingleFamily public records · 184 Days on market

Built 1996 0.26 ac lot Est $290k · 9% under

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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 +13.3/30.0
• ARV discount +11.4/15.0
• DSCR +4.0/10.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Some new paint, ceilings, living areas, garage, etc. Take a look at this home in an established neighborhood near water access! Metal roof added 2019, new HVAC 2017, deck 2020 and cement drive added in 2020 and laminate floors as well. Open den area with gas fireplace, dining area, master suite has two closets. Storage building, nice lot, covered front porch, single garage. Water access within minutes of this home!

Key facts

• Rear porch
• Expansive side deck
• 0.26 acre lot

Tags

• WELCOMING FRONT PORCH
• REAR PORCH
• EXPANSIVE SIDE DECK
• DETACHED STORAGE BUILDING
• MINUTES FROM HOLDEN BEACH
• LOCAL SHOPPING AND DINING

Property features AI

Exterior

• Parking: Attached garage (1 car); Paved parking; Total 1 parking space
• Utilities: Public water; Septic tank; Water available
• Home design: Single-family residence; One level / 1 story; Entry on level 1
• Construction: Vinyl siding and frame construction; Metal roof; Crawl space foundation (see remarks)
• Exterior features: Deck; Porch; Shed(s); Has a view; Paved road access

Interior

• Kitchen: Refrigerator
• Bedrooms: 5 total rooms (bedrooms included in room count)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Propane heating; Electric heating; Heat pump; Fireplace(s)
• Interior features: Ceiling fan(s); Gas log fireplace

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 $1 ($12/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 $202k (23.7% below list).
• Recommended offer: $202k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.8% in Varnamtown — 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 60/100 on livability (#521 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, employment B; Watch: crime 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: Virginia Williamson Elem (math 50% / reading 49%, grade D, #417 of 1,410 statewide, top 32%, 502 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 40% 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 $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 184 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $35k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,101 (23.7% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 24% 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. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.02%
• DSCR: 1.00
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $290,260
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2817 Paul Andrew St SW	0.36mi	3/2.0	1,311 (+4%)	16mo	$302,000	$230	63
204 Chestnut Dr SW	0.66mi	2/2.0 (-1)	1,379 (+9%)	3mo	$400,000	$290	46
3105 Gal Var Rd	0.64mi	2/2.0 (-1)	1,296 (+3%)	20mo	$250,000	$193	44

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: -16.3%
• Equity multiple: 0.42×
• Total profit: $-42,992
• Equity at exit: $39,512

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-37,819
• 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 28462

• Active inventory: 506
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,021 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$95 /mo · $1,146/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $1

Break-even live

Break-even rent $2,020

Max offer price $265,000

Occupancy floor 95%

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: —

Listing history 28 events

1. 2026-06-18
   days on market $265,000 Active 184 DOM
2. 2026-06-17
   days on market $265,000 Active 183 DOM
3. 2026-06-16
   days on market $265,000 Active 182 DOM
4. 2026-06-15
   days on market $265,000 Active 181 DOM
5. 2026-06-14
   days on market $265,000 Active 179 DOM
6. 2026-06-13
   days on market $265,000 Active 178 DOM
7. 2026-06-10
   days on market $265,000 Active 176 DOM
8. 2026-06-09
   days on market $265,000 Active 175 DOM
9. 2026-06-09
   price $265,000 Active 174 DOM
10. 2026-06-08
    days on market $269,000 Active 174 DOM
11. 2026-06-07
    days on market $269,000 Active 173 DOM
12. 2026-06-05
    days on market $269,000 Active 170 DOM
13. 2026-06-03
    days on market $269,000 Active 169 DOM
14. 2026-06-02
    days on market $269,000 Active 168 DOM
15. 2026-06-01
    days on market $269,000 Active 167 DOM
16. 2026-05-31
    days on market $269,000 Active 166 DOM
17. 2026-05-30
    days on market $269,000 Active 165 DOM
18. 2026-05-14
    price $269,000
19. 2026-05-08
    price $279,900
20. 2026-03-26
    price $285,000
21. 2026-03-03
    price $289,000
22. 2026-02-09
    price $295,000
23. 2026-01-06
    price $298,000
24. 2025-12-16
    listed $300,000 Active
25. 2022-04-28
    soldstatus $245,000 Closed 418-char remark

    Show marketing remark (418 chars)

    Some new paint, ceilings, living areas, garage, etc. Take a look at this home in an established neighborhood near water access! Metal roof added 2019, new HVAC 2017, deck 2020 and cement drive added in 2020 and laminate floors as well. Open den area with gas fireplace, dining area, master suite has two closets. Storage building, nice lot, covered front porch, single garage. Water access within minutes of this home!

26. 2022-04-28
    soldstatus $245,000

    Show marketing remark (418 chars)

    Some new paint, ceilings, living areas, garage, etc. Take a look at this home in an established neighborhood near water access! Metal roof added 2019, new HVAC 2017, deck 2020 and cement drive added in 2020 and laminate floors as well. Open den area with gas fireplace, dining area, master suite has two closets. Storage building, nice lot, covered front porch, single garage. Water access within minutes of this home!

27. 2022-03-14
    historical 418-char remark

    Show marketing remark (418 chars)

    Some new paint, ceilings, living areas, garage, etc. Take a look at this home in an established neighborhood near water access! Metal roof added 2019, new HVAC 2017, deck 2020 and cement drive added in 2020 and laminate floors as well. Open den area with gas fireplace, dining area, master suite has two closets. Storage building, nice lot, covered front porch, single garage. Water access within minutes of this home!

28. 2022-02-09
    listed $258,000 418-char remark

    Show marketing remark (418 chars)

    Some new paint, ceilings, living areas, garage, etc. Take a look at this home in an established neighborhood near water access! Metal roof added 2019, new HVAC 2017, deck 2020 and cement drive added in 2020 and laminate floors as well. Open den area with gas fireplace, dining area, master suite has two closets. Storage building, nice lot, covered front porch, single garage. Water access within minutes of this home!

ⓘ 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: $1,146 · $95/mo
• Projected year-2 tax: $2,173 · $181/mo
• Expected delta: +$1,027/yr (+$86/mo · 89.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 20 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: $24,252
• − Mortgage interest: −$14,844
• − Property taxes: −$1,146
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,940
• − Management: −$1,940
• − Depreciation: −$7,709
• Taxable loss: −$4,652
• Est. tax savings @ 24.0%: +$1,117
• After-tax cash flow: $1,129/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 — Varnamtown

• Score: 60/100
• State rank: #521
• US rank: #19194

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Varnamtown, NC
• 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

+4.3% since first listed

11 events — show timeline

• 2026-05-14 Price Changed $269,000 Hive MLS
• 2026-05-08 Price Changed $279,900 Hive MLS
• 2026-03-26 Price Changed $285,000 Hive MLS
• 2026-03-03 Price Changed $289,000 Hive MLS
• 2026-02-09 Price Changed $295,000 Hive MLS
• 2026-01-06 Price Changed $298,000 Hive MLS
• 2025-12-16 Listed $300,000 Hive MLS
• 2022-04-28 Sold (Public Records) $245,000 Public Records
• 2022-04-28 Sold (MLS) $245,000 Hive MLS
• 2022-03-14 Listing Removed — Hive MLS
• 2022-02-09 Listed $258,000 Hive MLS

Property tax history

+3.8%/yr

Latest (2025): $1,146 · +0.0% YoY. Source: county tax records.