286 Elm St · Boiling Spring Lakes, NC 28461

$257,000

3 bd · 2.0 ba · 1,254 sqft · SingleFamily public records · 213 Days on market

Built 2022 10,019 sqft lot Est $268k · at est. ↓ 4% since listing

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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 +13.5/30.0
• ARV discount +9.4/15.0
• DSCR +4.1/10.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• 1% rule +2.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Seller Offering $1,500 Buyer Credit with an Acceptable Offer!! Discover comfort and convenience in this well-maintained 3 bedroom, 2 bathroom home located in the Boiling Spring Lakes area of Southport. Offering 1,254 square feet of functional living space, this property features inviting front and back porches perfect for relaxing or entertaining. The fenced-in backyard provides privacy and ample room for pets, play, or outdoor gatherings. With a thoughtful layout and a quiet location just minutes from area amenities, this home presents an excellent opportunity for anyone seeking value and charm in a growing coastal community.

Key facts

• Thoughtful layout
• Quiet location
• Fenced-in backyard

Tags

• FRONT AND BACK PORCHES
• FENCED-IN BACKYARD
• THOUGHTFUL LAYOUT
• QUIET LOCATION

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Septic tank sewer; Water connected
• Home design: Single-family residence; One-story home; Entry level on one level
• Construction: Vinyl siding; Slab foundation; Built with conventional residential construction
• Exterior features: Front porch; Back yard fenced; Shingle roof; Property has a view; Paved road frontage on city street and state road; Lot approximately 0.23 acres (70 x 150)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Electric heat and heat pump
• Interior features: Primary bedroom on the main floor; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $257k.

Deal economics

• At list price, monthly cash flow is $8 ($97/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 $204k (20.8% below list).
• Recommended offer: $204k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.1% in Boiling Spring Lakes — 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 59/100 on livability (#542 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, 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: Bolivia Elementary (math 50% / reading 43%, grade D-, #542 of 1,410 statewide, top 39%, 496 students, 99% FRL); South Brunswick Middle (math 41% / reading 49%, grade D, #160 of 475 statewide, top 35%, 572 students, 100% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 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 flat; 884 active listings in the ZIP; 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 213 days — a 12% lower offer ($226k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $203,510 (20.8% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 21% 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. 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?
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.13%
• DSCR: 1.01
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $268,356
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
253 Sycamore Rd	0.05mi	3/2.0	1,293 (+3%)	3mo	$304,000	$235	90
231 Cherry Rd	0.14mi	3/2.0	1,209 (-4%)	4mo	$235,000	$194	84
1469 E Boiling Spring Rd	0.46mi	3/2.0	1,232 (-2%)	1mo	$239,000	$194	75
1830 E Boiling Spring Rd	0.49mi	3/2.0	1,243 (-1%)	2mo	$252,500	$203	74
269 N High Point Rd	0.51mi	3/2.0	1,254 (0%)	5mo	$245,000	$195	72
1820 Raeford Rd	0.64mi	3/2.0	1,229 (-2%)	1mo	$296,500	$241	66
321 Hickory Rd	0.59mi	3/2.0	1,220 (-3%)	3mo	$249,400	$204	65
2240 W Lake Keziah Dr	0.67mi	3/2.0	1,316 (+5%)	0mo	$287,000	$218	60
1911 Gastonia Rd	0.33mi	3/2.0	1,438 (+15%)	3mo	$307,500	$214	57
1955 Albemarle Rd	0.43mi	3/2.0	1,429 (+14%)	6mo	$270,000	$189	51
278 N Greensboro Rd	0.48mi	3/2.0	1,090 (-13%)	7mo	$275,000	$252	50
1960 Salisbury Rd	0.63mi	2/2.0 (-1)	1,104 (-12%)	2mo	$243,900	$221	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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-45,736
• Equity at exit: $38,320

10-year hold

• IRR: -15.5%
• Equity multiple: 0.20×
• Total profit: $-57,230
• Equity at exit: $22,221

Cash invested: $71,960 (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 28461

• Rents YoY: 0.7%
• Active inventory: 884
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,035 medium
• Mortgage (P&I): −$1,348
• Tax from tax record: −$145 /mo · $1,738/yr
• Insurance: −$107
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $8

Break-even live

Break-even rent $2,025

Max offer price $257,000

Occupancy floor 95%

Sensitivity live

Price	-10% $154	-5% $81	+0% $8	+5% $-65	+10% $-137
Rent	-10% $-153	-5% $-72	+0% $8	+5% $88	+10% $169
Rate	-1.0pp $137	-0.5pp $73	base $8	+0.5pp $-59	+1.0pp $-126

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: $64,250
• Closing costs: $7,710
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-22
   days on market $257,000 Active 213 DOM
2. 2026-06-18
   days on market $257,000 Active 210 DOM
3. 2026-06-17
   days on market $257,000 Active 209 DOM
4. 2026-06-16
   days on market $257,000 Active 208 DOM
5. 2026-06-15
   days on market $257,000 Active 207 DOM
6. 2026-06-14
   days on market $257,000 Active 205 DOM
7. 2026-06-13
   days on market $257,000 Active 204 DOM
8. 2026-06-10
   days on market $257,000 Active 202 DOM
9. 2026-06-09
   days on market $257,000 Active 201 DOM
10. 2026-06-08
    days on market $257,000 Active 200 DOM
11. 2026-06-07
    days on market $257,000 Active 199 DOM
12. 2026-06-05
    days on market $257,000 Active 196 DOM
13. 2026-06-03
    days on market $257,000 Active 195 DOM
14. 2026-06-02
    pricedays on market $257,000 Active 194 DOM
15. 2026-06-01
    days on market $260,000 Active 193 DOM
16. 2026-05-31
    days on market $260,000 Active 192 DOM
17. 2026-05-30
    days on market $260,000 Active 191 DOM
18. 2026-05-10
    price $260,000
19. 2026-02-23
    price $263,000
20. 2026-01-09
    price $265,000
21. 2025-11-20
    listed $269,900 Active

ⓘ 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: $1,738 · $145/mo
• Projected year-2 tax: $2,107 · $176/mo
• Expected delta: +$369/yr (+$31/mo · 21.2%)

ⓘ 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 ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $24,421
• − Mortgage interest: −$14,396
• − Property taxes: −$1,738
• − Insurance: −$1,285
• − Repairs & maintenance: −$1,954
• − Management: −$1,954
• − Depreciation: −$7,476
• Taxable loss: −$4,382
• Est. tax savings @ 24.0%: +$1,052
• After-tax cash flow: $1,148/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 — Boiling Spring Lakes

• Score: 59/100
• State rank: #542
• US rank: #19781

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boiling Spring Lakes, NC
• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 23,762
• Household income: $82,692
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 161.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -195.19%
• Current HPI: 142.5667
• Rent YoY: ▲ 0.74%
• 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

-3.7% since first listed

4 events — show timeline

• 2026-05-10 Price Changed $260,000 Hive MLS
• 2026-02-23 Price Changed $263,000 Hive MLS
• 2026-01-09 Price Changed $265,000 Hive MLS
• 2025-11-20 Listed $269,900 Hive MLS

Property tax history

+46.5%/yr

Latest (2025): $1,738 · +13.1% YoY. Source: county tax records.