506 Virkus Dr NE · Bolivia, NC 28422

$299,995

3 bd · 2.0 ba · 1,513 sqft · SingleFamily · 23 Days on market

Built 2026 Excellent condition $198/sqft · 8% below area Est $325k · 8% 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).

• ARV discount +11.0/15.0
• Cash flow +9.2/30.0
• Schools +5.0/10.0
• Condition / age +4.8/5.0
• Livability +3.0/5.0
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Limited-time savings: up to $12,500 in closing cost assistance with NVRM * ! Ready in November! This Avon offers easy, one-level living with a thoughtfully designed ranch layout that combines comfort, style, and modern convenience. At the heart of the home, an open-concept design seamlessly connects the great room, dining area, and gourmet kitchen, creating the perfect space for entertaining or everyday living. The kitchen is beautifully appointed with quartz countertops, stainless steel appliances, a natural gas range, and a spacious island highlighted by pendant lighting.

Key facts

• Spacious island
• Quartz countertops
• Gourmet kitchen

Tags

• OPEN CONCEPT DESIGN
• GOURMET KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NATURAL GAS RANGE
• SPACIOUS ISLAND

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (22.0% below list).
• Recommended offer: $234k (22.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#549 in NC) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, cost of living B; Watch: amenities F, commute F, employment 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: 867 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 40% of the median local income ($69k/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 $9k 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 23 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.

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 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,086 (22.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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: 0.78% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 10.7

CMA / ARV

• ARV (median comp): $325,110
• List price: $299,995
• Delta: -7.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 Virkus Dr NE	0.00mi	3/2.0	1,513 (0%)	0mo	$291,680	$193	100
939 Rindlewood Trl NE	0.13mi	3/2.0	1,533 (+1%)	6mo	$313,212	$204	86
1794 Piney Creek Rd NE	0.39mi	3/2.0	1,553 (+3%)	1mo	$290,495	$187	76
566 Shady Birch Ln NE	0.29mi	3/2.5	1,601 (+6%)	5mo	$345,735	$216	71
970 Rindlewood Trl NE	0.14mi	3/2.0	1,696 (+12%)	6mo	$332,629	$196	68
2183 Webfoot Dr NE	0.14mi	3/2.5	1,294 (-14%)	1mo	$392,075	$303	67
966 Rindlewood Trl NE	0.32mi	3/2.0	1,696 (+12%)	6mo	$334,995	$198	60
1774 Piney Creek Rd NE	0.34mi	3/2.0	1,696 (+12%)	5mo	$319,995	$189	60
1786 Piney Creek Rd NE	0.37mi	3/2.0	1,696 (+12%)	4mo	$329,875	$195	59
1782 Piney Creek Rd NE	0.36mi	3/2.0	1,696 (+12%)	6mo	$330,454	$195	58
1798 Piney Creek Rd NE	0.40mi	3/2.0	1,694 (+12%)	4mo	$319,657	$189	58
1119 Middle Crest Dr NE	0.56mi	3/2.0	1,694 (+12%)	6mo	$350,924	$207	49

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: -23.3%
• Equity multiple: 0.20×
• Total profit: $-67,030
• Equity at exit: $44,730

10-year hold

• IRR: -17.8%
• Equity multiple: 0.03×
• Total profit: $-81,874
• Equity at exit: $25,938

Cash invested: $83,999 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 15 under contract
• Months of supply: 5.6 mo (18%/mo absorbed)
• Median asking: $280,000 ($192/sqft)
• Median days on market: 49 d
• This list price: 77% of active listings are priced below it
• ARV vs active asking: +11.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28422

• Home prices YoY: -23.8%
• Active inventory: 867
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,341 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $-290

Break-even live

Break-even rent $2,708

Max offer price $257,977

Occupancy floor —

Sensitivity live

Price	-10% $-83	-5% $-187	+0% $-290	+5% $-394	+10% $-498
Rent	-10% $-475	-5% $-383	+0% $-290	+5% $-198	+10% $-105
Rate	-1.0pp $-139	-0.5pp $-214	base $-290	+0.5pp $-368	+1.0pp $-447

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: $74,999
• Closing costs: $9,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1127 Middle Crest Dr NE , NC	3.0	2.0	1963	$2,200	$1.12	164d	1	0.53mi
1472 Pine Log Trl NE Bolivia, NC	3.0	2.5	1326	$1,675	$1.26	29d	1	0.73mi

Property features AI

Exterior

• Parking: 2 parking spaces

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms

Listing history 50 events

1. 2026-11-08
   days on market $299,995 Active 23 DOM
2. 2026-11-07
   days on market $299,995 Active 22 DOM
3. 2026-11-07
   days on marketlisting id $299,995 Active 21 DOM
4. 2026-11-06
   days on market $299,995 Active 122 DOM
5. 2026-11-05
   days on market $299,995 Active 121 DOM
6. 2026-11-04
   days on market $299,995 Active 120 DOM
7. 2026-11-02
   days on market $299,995 Active 118 DOM
8. 2026-11-01
   days on market $299,995 Active 117 DOM
9. 2026-10-31
   days on market $299,995 Active 116 DOM
10. 2026-10-30
    days on market $299,995 Active 115 DOM
11. 2026-10-29
    days on market $299,995 Active 114 DOM
12. 2026-10-28
    days on market $299,995 Active 113 DOM
13. 2026-10-27
    days on market $299,995 Active 112 DOM
14. 2026-10-26
    days on market $299,995 Active 111 DOM
15. 2026-10-26
    days on market $299,995 Active 110 DOM
16. 2026-10-24
    days on market $299,995 Active 109 DOM
17. 2026-10-23
    days on market $299,995 Active 108 DOM
18. 2026-10-22
    days on market $299,995 Active 107 DOM
19. 2026-10-21
    days on market $299,995 Active 106 DOM
20. 2026-10-20
    days on market $299,995 Active 105 DOM
21. 2026-10-19
    days on market $299,995 Active 104 DOM
22. 2026-10-18
    days on market $299,995 Active 103 DOM
23. 2026-10-17
    days on market $299,995 Active 102 DOM
24. 2026-10-16
    status $299,995 Active 101 DOM
25. 2026-08-10
    status $299,995 Pending 101 DOM
26. 2026-08-10
    days on market $299,995 Active 101 DOM
27. 2026-08-09
    days on market $299,995 Active 100 DOM
28. 2026-08-08
    days on market $299,995 Active 99 DOM
29. 2026-08-07
    days on market $299,995 Active 98 DOM
30. 2026-08-06
    days on market $299,995 Active 97 DOM
31. 2026-08-05
    days on market $299,995 Active 96 DOM
32. 2026-08-04
    days on market $299,995 Active 95 DOM
33. 2026-08-03
    days on market $299,995 Active 94 DOM
34. 2026-07-31
    days on market $299,995 Active 91 DOM
35. 2026-07-30
    days on market $299,995 Active 89 DOM
36. 2026-07-27
    days on market $299,995 Active 87 DOM
37. 2026-07-25
    days on market $299,995 Active 85 DOM
38. 2026-07-24
    days on market $299,995 Active 84 DOM
39. 2026-07-23
    days on market $299,995 Active 83 DOM
40. 2026-07-22
    price $299,995 Active 82 DOM
41. 2026-07-22
    days on market $314,480 Active 82 DOM
42. 2026-07-21
    days on market $314,480 Active 81 DOM
43. 2026-07-18
    days on market $314,480 Active 78 DOM
44. 2026-07-16
    days on market $314,480 Active 76 DOM
45. 2026-07-16
    days on market $314,480 Active 75 DOM
46. 2026-07-14
    days on market $314,480 Active 74 DOM
47. 2026-07-13
    days on market $314,480 Active 73 DOM
48. 2026-07-12
    days on market $314,480 Active 72 DOM
49. 2026-07-11
    days on market $314,480 Active 71 DOM
50. 2026-07-10
    days on market $314,480 Active 70 DOM

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 17 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: $28,090
• − Mortgage interest: −$16,804
• − Property taxes: −$4,500
• − Insurance: −$2,297
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − Depreciation: −$8,727
• Taxable loss: −$8,733
• Est. tax savings @ 24.0%: +$2,096
• After-tax cash flow: $-1,389/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.

Condition & rehab AI · 6 photos

Excellent 95/100 None rehab

This beautifully maintained single-family home in Bolivia, NC, offers a modern and open floor plan with excellent curb appeal and well-maintained interiors. It is ready for immediate occupancy and would benefit from minor aesthetic updates to further enhance its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑
• Resale Kitchen appliances — Modern appliances improve the kitchen's functionality and appeal to potential buyers. ↑
• Resale Bathroom fixtures — Upgrading fixtures can increase the bathroom's appeal and value to potential buyers. ↑

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Bolivia Elementary D- NC #542/1,410 Nat'l #15,452/41,679 Middle South Brunswick Middle D NC #160/475 Nat'l #4,622/14,009 High South Brunswick High C+ NC #216/535 Nat'l #3,588/17,239

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

D Composite livability gradescore 59/100

Livability — Bolivia

• Score: 59/100
• State rank: #549
• US rank: #20206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 152,111 people
• City population: 10,059
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 10,059
• Household income: $69,412
• Rent vs Own: 13.7% rent · 86.3% own

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 8% Hispanic / Latino 3% Native American 1%
• Languages at home: 95% English-only · Spanish 4%

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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: ▼ -44.19%
• Current HPI: 141.1956
• Rent YoY: —
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

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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

Property features AI

Exterior

• Parking: 2 parking spaces

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms