212 Diamond Cv · Newport, NC 28570

$274,900

2 bd · 2.0 ba · 1,569 sqft · Condo public records · 106 Days on market

Built 2006 $510/mo HOA · 5% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This beautiful condominium in the highly sought-after ''The Coves at Newport'' gated community is ready for a new owner. It is a one-story home that features three bedrooms, two full bathrooms, and one car garage. This upscale neighborhood provides a community pool, clubhouse, extended (over 85 channels) cable TV, high-speed Internet, maintenance on the exterior buildings, landscaping, and pest control. This condo is an end unit located at the cul-de-sac with very little traffic and extra parking spaces. It has a great outdoor space, a private side yard, and a backyard. It features an open-concept floor plan, a large, sunny living/dining room with vaulted ceilings, and lots of natural light

Key facts

• Gated community
• Clubhouse
• Community pool

Tags

• GATED COMMUNITY
• COMMUNITY POOL
• CLUBHOUSE
• EXTRA PARKING SPACES
• OUTDOOR SPACE
• PRIVATE SIDE YARD

Property features AI

Finance

• Other: Pets allowed; Subdivision: The Coves at Newport; Zoning: PUD; Directions: Hwy 70 to The Coves at Newport, Right on Diamond Cove. The unit is at the end of the street on the right.
• HOA & community: Homeowners association (annual fee); Annual association fee of $6,120 (approximately $510/month); Community pool; Gated community; Maintenance of grounds and structures; Management and meeting room; Clubhouse; Picnic area; Security; Cable TV; Street lights

Exterior

• Parking: Attached garage (garage faces front); 1 total parking space; 1 garage space; Concrete, paved parking; Garage door opener; Assigned and lighted on-site parking
• Security: Fire sprinkler system; Security lights; Smoke detector(s)
• Utilities: Public water; Public sewer; Sewer connected; Water connected; Cable available
• Home design: Duplex; Condominium; One story; Entry on slab foundation
• Construction: Shingle roof; Slab foundation
• Exterior features: Patio; Storm door(s); No fencing; Shingle roof; Cul-de-sac lot; Open lot; Paved road frontage on a private road; Irrigation equipment; Has a view

Interior

• Kitchen: Refrigerator; Dishwasher; Electric range; Microwave; Pantry; Electric water heater
• Bedrooms: Master downstairs
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Accessible full bath
• Heating & cooling: Heat pump heating (electric); Central air conditioning; Heat pump cooling
• Interior features: Master bedroom on the main level; Walk-in closet(s); Vaulted and high ceilings; Entrance foyer; Ceiling fan(s); Pantry; Window coverings; Insulated windows; Unfurnished
• Laundry & utility: Washer hookup; Laundry located in kitchen; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $6k ($68k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $275k).
• Recommended offer: $250k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#385 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Carteret County Public Schools (rural): math 59% / reading 61% proficiency, ranked #31 of 178 in NC (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Newport Elementary (math 48% / reading 45%, grade D-, #542 of 1,410 statewide, top 39%, 645 students, 100% FRL); Newport Middle (math 39% / reading 56%, grade C-, #140 of 475 statewide, top 30%, 378 students, 98% FRL); West Carteret High (math 82% / reading 71%, grade A-, #89 of 535 statewide, top 16%, 1,146 students, 40% FRL) — zoned schools average 79% FRL vs 39% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 216 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).
• At $10,320/mo this rent would consume 176% of the median local household income ($70k/yr) (locally 461% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Carteret County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($250k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago 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 $142k; list at $275k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,159 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.75% ✓
• Cap rate: 31.36%
• Cash-on-cash: 89.54%
• DSCR: 4.98
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 89.2%
• Equity multiple: 5.13×
• Total profit: $317,518
• Equity at exit: $40,988

10-year hold

• IRR: 92.2%
• Equity multiple: 10.67×
• Total profit: $744,119
• Equity at exit: $23,768

Cash invested: $76,972 (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 28570

• Home prices YoY: -16.2%
• Active inventory: 216
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $10,320 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,124/yr
• Insurance: −$115
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$510
• Vacancy / Maint / Mgmt: −$2,167
• Net cashflow: $5,677

Break-even live

Break-even rent $3,134

Max offer price $274,900

Occupancy floor 40%

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $510 · $6,120/yr
• Likely covers: internetcablelandscapingpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-19
   days on market $274,900 Active 106 DOM
2. 2026-06-18
   days on market $274,900 Active 105 DOM
3. 2026-06-17
   days on market $274,900 Active 104 DOM
4. 2026-06-17
   price $274,900 Active 103 DOM
5. 2026-06-16
   days on market $279,900 Active 103 DOM
6. 2026-06-15
   days on market $279,900 Active 102 DOM
7. 2026-06-14
   days on market $279,900 Active 100 DOM
8. 2026-06-12
   days on market $279,900 Active 99 DOM
9. 2026-06-09
   days on market $279,900 Active 96 DOM
10. 2026-06-08
    days on market $279,900 Active 95 DOM
11. 2026-06-07
    days on market $279,900 Active 94 DOM
12. 2026-06-05
    days on market $279,900 Active 91 DOM
13. 2026-06-03
    days on market $279,900 Active 90 DOM
14. 2026-06-02
    days on market $279,900 Active 89 DOM
15. 2026-06-01
    days on market $279,900 Active 88 DOM
16. 2026-05-31
    days on market $279,900 Active 87 DOM
17. 2026-05-30
    days on market $279,900 Active 86 DOM
18. 2026-03-26
    status Active
19. 2026-03-26
    historical
20. 2026-03-06
    status Active
21. 2026-03-05
    listed $279,900 Active
22. 2015-07-31
    soldstatus $141,500
23. 2010-02-17
    historical
24. 2009-09-02
    listed $189,900
25. 2009-07-31
    historical
26. 2009-04-21
    soldstatus $922,000
27. 2008-09-03
    listed $189,900
28. 2006-10-25
    historical
29. 2006-07-07
    listed $199,000
30. 2005-08-29
    historical
31. 2005-07-12
    listed $169,900

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 8 d/yr ≥103°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $123,842
• − Mortgage interest: −$15,399
• − Property taxes: −$4,124
• − Insurance: −$2,172
• − Repairs & maintenance: −$9,907
• − Management: −$9,907
• − HOA: −$6,120
• − Depreciation: −$7,997
• Taxable income: $68,216
• Est. tax owed @ 24.0%: −$16,372
• After-tax cash flow: $51,749/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: Carteret County Public Schools
• NCES district ID: 3700630
• Math proficiency: 59% ▲ 5.00%
• Reading proficiency: 61% ▲ 2.00%
• Median HH income: $48,330
• Composite: 50.92/100
• National rank: #1786
• State rank: #31 of 178 in NC

Livability — Newport

• Score: 63/100
• State rank: #385
• US rank: #15094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport, NC
• County: Carteret County · 52,389 people
• City population: 22,197
• Metro: Morehead City, NC
• Population (ZIP): 22,197
• Household income: $70,229
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 461.0

Population outlook (Carteret County) Hauer SSP2

• Today (2025): 73,443 people
• By 2030: 75,344 · +2.6%
• By 2040: 78,142 · +6.4%
• By 2050: 80,091 · +9.1%
• By 2075: 86,120 · +17.3%
• By 2100: 89,408 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Carteret

• 2024 margin: Solid R (+43.1) · D 28.0% · R 71.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -34.7pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+42.0 2016: R+44.5 2012: R+41.0 2008: R+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.54%
• Current HPI: 276.6589
• Rent YoY: —
• Metro: Morehead City, 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

+64.7% since first listed

14 events — show timeline

• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-03-06 Relisted — Hive MLS
• 2026-03-05 Listed $279,900 Hive MLS
• 2015-07-31 Sold (Public Records) $141,500 Public Records
• 2010-02-17 Listing Removed — Hive MLS
• 2009-09-02 Listed $189,900 Hive MLS
• 2009-07-31 Listing Removed — Hive MLS
• 2009-04-21 Sold (Public Records) $922,000 Public Records
• 2008-09-03 Listed $189,900 Hive MLS
• 2006-10-25 Listing Removed — Hive MLS
• 2006-07-07 Listed $199,000 Hive MLS
• 2005-08-29 Listing Removed — Hive MLS
• 2005-07-12 Listed $169,900 Hive MLS

Property tax history

+0.6%/yr

Latest (2023): $507 · +2.9% YoY. Source: county tax records.