958 Waterview Ln · Carolina Shores, NC 28467

$299,800

3 bd · 2.0 ba · 1,904 sqft · Manufactured public records · 90 Days on market

Built 2021 Est $240k · 25% over

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Why this score? — see what drove the F 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 +12.7/30.0
• Schools +3.9/10.0
• DSCR +3.8/10.0
• Livability +3.2/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity! One of the few remaining residential building lots in The Village at Calabash. Located on one of the subdivisions stocked fishing ponds, this lot is located within the Town of Carolina Shores. There are low Property Owners Association fees; a community swimming pool and clubhouse. The Village at Calabash is a well-established manufactured housing community where pride of ownership is evident. There are paved streets, public water and sewer. This would be a perfect site for your vacation or retirement manufactured home. Located just minutes from the beautiful south Brunswick Island beaches, the center of town, shopping, great restaurants and championship golf. Opportunity usually does not knock twice, so call today and start enjoying the coastal Carolina lifestyle tomorrow!

Key facts

• Pool area
• Gas fireplace
• Club house

Tags

• WHOLE HOUSE GENERATOR
• GAS FIREPLACE
• ESTABLISHED LANDSCAPING
• SPRINKLER SYSTEM
• POOL AREA
• CLUB HOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $300k.

Deal economics

• At list price, monthly cash flow is $-36 ($-427/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (24.7% below list).
• Recommended offer: $226k (24.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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, schools F, 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.
• Market conditions: 691 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 36% 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 $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 90 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $16k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $300k implies a 1399% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $225,842 (24.7% 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. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.75% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $239,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
845 Watson Ave SW	0.20mi	3/2.0	1,811 (-5%)	3mo	$273,000	$151	80
1030 Palm Ct SW	0.32mi	3/2.0	1,928 (+1%)	7mo	$278,500	$144	77
891 Palmer Dr	0.29mi	3/2.0	1,792 (-6%)	1mo	$260,000	$145	76
903 Wedge Ct SW	0.22mi	3/2.0	1,848 (-3%)	12mo	$222,000	$120	75
1062 Cedar Ct SW	0.38mi	3/2.0	1,943 (+2%)	13mo	$245,000	$126	68
815 Watson Ave	0.40mi	3/2.0	1,770 (-7%)	10mo	$223,000	$126	61
1073 Captains Ct	0.46mi	3/2.0	1,675 (-12%)	2mo	$200,000	$119	57
1024 Palm Ct SW	0.29mi	2/2.0 (-1)	1,680 (-12%)	6mo	$196,000	$117	57
822 Watson Ave SW	0.36mi	3/2.0	2,142 (+12%)	18mo	$244,000	$114	48
831 Bogie Ln	0.44mi	3/3.0	1,704 (-10%)	15mo	$253,000	$148	46
1092 Nautical Ln SW	0.67mi	3/3.0	1,720 (-10%)	13mo	$230,000	$134	38
1111 Captains Ct SW	0.73mi	3/2.0	1,620 (-15%)	9mo	$200,000	$123	34

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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-50,969
• Equity at exit: $44,701

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-47,795
• Equity at exit: $25,921

Cash invested: $83,944 (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: 11.1×

Monthly cashflow live

• Estimated rent: $2,258 high
• Mortgage (P&I): −$1,572
• Tax from tax record: −$123 /mo · $1,472/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-36

Break-even live

Break-even rent $2,304

Max offer price $293,509

Occupancy floor 97%

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: $74,950
• Closing costs: $8,994
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1016 Harbor Dr Calabash, NC	4.0	2.0	1780	$2,400	$1.35	14d	1	0.32mi
1035 Brightwater Way Calabash, NC	1.0–3.0	1.0–2.5	1327	$2,145	$1.62	23d	1	0.50mi
1063 Harbor Dr Calabash, NC	3.0	2.0	1421	$2,200	$1.55	21d	1	0.72mi
834 Greenwood Ct Calabash, NC	3.0	2.0	1475	$2,100	$1.42	14d	1	1.02mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,292	$1.62	21d	51	1.06mi
2033 Wild Indigo CIR NW Calabash, NC	3.0	3.0	1457	$1,775	$1.22	23d	1	1.17mi
70 Callaway Dr NW OCEAN ISL BCH, NC	2.0–3.0	2.0	1324	$1,882	$1.42	14d	35	1.22mi
614 Silos Way Carolina Shores, NC	3.0	2.0	1750	$2,500	$1.43	23d	1	1.23mi
660 Aubrey Ln Calabash, NC	1.0–2.0	1.0–2.0	1081	$2,870	$2.65	14d	69	1.28mi
891 Mh Marina Rd #3 Carolina Shores, NC	2.0	2.0	1250	$1,300	$1.04	14d	1	1.49mi
1086 Mille Ave Calabash, NC	3.0	2.0	1232	$2,000	$1.62	23d	1	1.49mi

Listing history 11 events

1. 2026-06-03
   days on market $299,800 Active 90 DOM
2. 2026-06-02
   days on market $299,800 Active 89 DOM
3. 2026-06-01
   days on market $299,800 Active 88 DOM
4. 2026-05-31
   days on market $299,800 Active 87 DOM
5. 2026-05-30
   days on market $299,800 Active 86 DOM
6. 2026-03-13
   price $299,800
7. 2026-03-05
   listed $315,900 Active
8. 2021-08-20
   soldstatus $20,000
9. 2018-10-19
   soldstatus $21,500
10. 2018-10-18
    soldstatus $21,900 796-char remark

    Show marketing remark (796 chars)

    Opportunity! One of the few remaining residential building lots in The Village at Calabash. Located on one of the subdivisions stocked fishing ponds, this lot is located within the Town of Carolina Shores. There are low Property Owners Association fees; a community swimming pool and clubhouse. The Village at Calabash is a well-established manufactured housing community where pride of ownership is evident. There are paved streets, public water and sewer. This would be a perfect site for your vacation or retirement manufactured home. Located just minutes from the beautiful south Brunswick Island beaches, the center of town, shopping, great restaurants and championship golf. Opportunity usually does not knock twice, so call today and start enjoying the coastal Carolina lifestyle tomorrow!

11. 2017-08-01
    listed $25,900 796-char remark

    Show marketing remark (796 chars)

    Opportunity! One of the few remaining residential building lots in The Village at Calabash. Located on one of the subdivisions stocked fishing ponds, this lot is located within the Town of Carolina Shores. There are low Property Owners Association fees; a community swimming pool and clubhouse. The Village at Calabash is a well-established manufactured housing community where pride of ownership is evident. There are paved streets, public water and sewer. This would be a perfect site for your vacation or retirement manufactured home. Located just minutes from the beautiful south Brunswick Island beaches, the center of town, shopping, great restaurants and championship golf. Opportunity usually does not knock twice, so call today and start enjoying the coastal Carolina lifestyle tomorrow!

ⓘ 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: $1,472 · $123/mo
• Projected year-2 tax: $2,458 · $205/mo
• Expected delta: +$986/yr (+$82/mo · 67.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $27,101
• − Mortgage interest: −$16,793
• − Property taxes: −$1,472
• − Insurance: −$1,499
• − Repairs & maintenance: −$2,168
• − Management: −$2,168
• − Depreciation: −$8,721
• Taxable loss: −$5,721
• Est. tax savings @ 24.0%: +$1,373
• After-tax cash flow: $946/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

• Census place: Carolina Shores, NC
• 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

+1057.5% since first listed

6 events — show timeline

• 2026-03-13 Price Changed $299,800 ForSaleByOwner.com
• 2026-03-05 Listed $315,900 ForSaleByOwner.com
• 2021-08-20 Sold (Public Records) $20,000 Public Records
• 2018-10-19 Sold (Public Records) $21,500 Public Records
• 2018-10-18 Sold (MLS) $21,900 Hive MLS
• 2017-08-01 Listed $25,900 Hive MLS

Property tax history

+32.1%/yr

Latest (2025): $1,472 · +0.0% YoY. Source: county tax records.