884 Yaupon Dr SW · Carolina Shores, NC 28467

$232,500

3 bd · 2.0 ba · 1,260 sqft · Land · 56 Days on market

Built 2024 8,712 sqft lot ↓ 14% 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 +13.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Schools +3.9/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Live the Easy Life in Calabash! Welcome to your fantastic new home in one of Calabash's newest subdivisions- perfect as a year-round residence or a dreamy beach getaway. Just minutes from beautiful beaches, parks, Calabash River, shopping and dining. This home puts the best of coastal living at your doorstep. Enjoy local farmers market, summer concerts and the laid-back charm of the Carolina coast. This location delivers it all.

Key facts

• 8,712 sq ft lot
• Built 2024
• Listed 56 days

Property features AI

Finance

• Other: Zoning: Ca-Mfh-Ii
• HOA & community: Homeowners association with annual fee

Exterior

• Parking: Concrete off-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Sewer connected; Water connected
• Home design: Manufactured home; One-story entry (entry level 1); New construction
• Construction: Vinyl siding and frame construction; Brick/mortar, block, permanent foundation; Built as a manufactured home
• Exterior features: Porch; Storm door(s); Fenced (other); Shingle roof; Has view; Paved road access; Private road

Interior

• Kitchen: Refrigerator; Range; Dishwasher; Microwave
• Bedrooms: Bedrooms: - (see listing for bedroom count and layout)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Electric heating; Central air conditioning
• Interior features: Walk-in closet(s); Kitchen island; Ceiling fan(s); Pantry; Storm windows; Window coverings; Unfurnished; Smoke detector(s); Accessible full bath
• Laundry & utility: Washer hookup; Laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $232k.

Deal economics

• At list price, monthly cash flow is $6 ($76/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 (12.2% below list).
• Recommended offer: $204k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: 691 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 33% 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 $7k 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 56 days — a 3% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: 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 $204,192 (12.2% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.88% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• GRM: 9.5

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-37,239
• Equity at exit: $34,667

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-31,780
• Equity at exit: $20,102

Cash invested: $65,100 (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: 691
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,042 high
• Mortgage (P&I): −$1,219
• Tax est. 1.5%: −$291 /mo · $3,488/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $6

Break-even live

Break-even rent $2,034

Max offer price $232,500

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: $58,125
• Closing costs: $6,975
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7112 Town Center Rd Sunset Beach, NC	1.0–2.0	1.0–2.0	955	$1,400	$1.47	14d	13	0.52mi
1063 Harbor Dr Calabash, NC	3.0	2.0	1421	$2,200	$1.55	21d	1	0.52mi
1420 Sherman Dr Calabash, NC	2.0–3.0	1.0–2.0	1011	$770	$0.76	14d	3	0.54mi
834 Greenwood Ct Calabash, NC	3.0	2.0	1475	$2,100	$1.42	14d	1	0.63mi
1016 Harbor Dr Calabash, NC	4.0	2.0	1780	$2,400	$1.35	14d	1	0.73mi
1086 Mille Ave Calabash, NC	3.0	2.0	1232	$2,000	$1.62	23d	1	0.76mi
1035 Brightwater Way Calabash, NC	1.0–3.0	1.0–2.5	1327	$2,145	$1.62	23d	1	0.83mi
660 Aubrey Ln Calabash, NC	1.0–2.0	1.0–2.0	1081	$2,870	$2.65	14d	69	1.05mi
891 Mh Marina Rd #3 Carolina Shores, NC	2.0	2.0	1250	$1,300	$1.04	14d	1	1.30mi

Listing history 19 events

1. 2026-06-18
   days on market $232,500 Active 56 DOM
2. 2026-06-17
   days on market $232,500 Active 55 DOM
3. 2026-06-16
   days on market $232,500 Active 54 DOM
4. 2026-06-15
   days on market $232,500 Active 53 DOM
5. 2026-06-14
   days on market $232,500 Active 51 DOM
6. 2026-06-13
   days on market $232,500 Active 50 DOM
7. 2026-06-10
   days on market $232,500 Active 48 DOM
8. 2026-06-09
   days on market $232,500 Active 47 DOM
9. 2026-06-08
   days on market $232,500 Active 46 DOM
10. 2026-06-07
    days on market $232,500 Active 45 DOM
11. 2026-06-05
    days on market $232,500 Active 42 DOM
12. 2026-06-03
    days on market $232,500 Active 41 DOM
13. 2026-06-02
    days on market $232,500 Active 40 DOM
14. 2026-06-01
    days on market $232,500 Active 39 DOM
15. 2026-05-31
    days on market $232,500 Active 38 DOM
16. 2026-05-30
    days on market $232,500 Active 37 DOM
17. 2026-04-23
    listed $232,500 Active
18. 2026-01-30
    historical
19. 2025-06-25
    listed $269,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $24,503
• − Mortgage interest: −$13,024
• − Property taxes: −$3,488
• − Insurance: −$1,162
• − Repairs & maintenance: −$1,960
• − Management: −$1,960
• − Depreciation: −$6,764
• Taxable loss: −$3,855
• Est. tax savings @ 24.0%: +$925
• After-tax cash flow: $1,001/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

• 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

-13.6% since first listed

3 events — show timeline

• 2026-04-23 Listed $232,500 Hive MLS
• 2026-01-30 Listing Removed — Hive MLS
• 2025-06-25 Listed $269,000 Hive MLS

Property tax history

+20.5%/yr

Latest (2025): $133 · +0.0% YoY. Source: county tax records.