303 Cannonsgate Dr · Bogue, NC 28570

$784,900

4 bd · 3.5 ba · 2,883 sqft · Other · 123 Days on market

Built 2024 8,930 sqft lot $143/mo HOA · 1% 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 MLS

This new Streamline Developers Home features 4 bedrooms - with the Primary Suite on the main level, 3 1/2 Bathrooms, open concept living and a front porch and covered back porch to enjoy those Coastal Breezes! The Primary Suite features LVT Flooring, a walk-in closet and ensuite bathroom with a tiled walk-in shower. The kitchen is open to the casual dining and living space and features a large island and marble counter tops! There is an additional bonus area upstairs, perfect for an additional Family Room or Children's Play area. This home is in a central location in the beautiful neighborhood of Cannonsgate. This waterfront gated community features a Clubhouse, Community Pool, Children's Play Area and Tennis Courts. There is a community boat ramp with a separate Marina. Close to award-winning schools, shopping restaurants, and area beaches!

Key facts

• Marble countertops
• Large island
• 8,930 sq ft lot

Tags

• GATED WATERFRONT COMMUNITY
• PRIMARY SUITE ON MAIN LEVEL
• OPEN-CONCEPT FLOOR PLAN
• LARGE ISLAND
• MARBLE COUNTERTOPS
• ABUNDANT NATURAL LIGHT

Property features AI

Finance

• Other: Subdivision: Cannonsgate; Directions: Hwy 24 to Cannonsgate entrance; home located on the roundabout; parking suggested in the back of the home
• HOA & community: Homeowners association with annual fee; Annual association fee applies; Community amenities include clubhouse, gated entry, grounds maintenance, management, playground, tennis courts, and pool

Exterior

• Parking: 2 total parking spaces; Attached 2-car garage; Garage with opener; Off-street paved parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas connected; Water and sewer connected
• Home design: Single-family residence; Two-story home; Primary entry on level 1; Residential zoning
• Construction: Fiber cement and frame construction; Shingle roof; Raised and slab foundation; Built as a residential single-family home
• Exterior features: Covered front and rear porches; Front porch; Rear porch; Paved road access; Has a view; No fencing noted; Swimming pool available in the community

Interior

• Kitchen: Gas oven; Dishwasher; Microwave; Refrigerator; Kitchen island; Pantry
• Bedrooms: Bedrooms total: 4 (see room count under Rooms section)
• Flooring: Carpet
• Bathrooms: 3 full bathrooms; 1 half bathroom; Accessible full bath available
• Heating & cooling: Central air conditioning; Electric heating; Heat pump; Natural gas heating
• Interior features: Master suite on the main level; Walk-in closets; High ceilings; Kitchen island; Pantry; Accessible full bathroom; Smoke detectors
• Laundry & utility: Laundry room; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath other listed at $785k.

Deal economics

• At list price, monthly cash flow is $7k ($84k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $785k).
• Recommended offer: $691k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#311 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety D-.
• 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: Bogue Sound Elementary (math 63% / reading 63%, grade B, #168 of 1,410 statewide, top 12%, 467 students, 99% FRL); Broad Creek Middle (math 63% / reading 68%, grade A-, #28 of 475 statewide, top 6%, 710 students, 100% FRL); Croatan High (math 82% / reading 78%, grade A, #73 of 535 statewide, top 13%, 974 students, 26% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 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 $14,878/mo this rent would consume 254% 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 $5k of loan paydown is wiped out by about $24k 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 $220k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($691k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $690,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.90% ✓
• Cap rate: 16.97%
• Cash-on-cash: 38.13%
• DSCR: 2.70
• GRM: 4.4

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: 34.2%
• Equity multiple: 2.44×
• Total profit: $317,352
• Equity at exit: $117,031

10-year hold

• IRR: 41.0%
• Equity multiple: 4.86×
• Total profit: $848,271
• Equity at exit: $67,864

Cash invested: $219,772 (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: 4.4×

Monthly cashflow live

• Estimated rent: $14,878 medium
• Mortgage (P&I): −$4,116
• Tax from tax record: −$185 /mo · $2,222/yr
• Insurance: −$327
• HOA: −$143
• Vacancy / Maint / Mgmt: −$3,124
• Net cashflow: $6,982

Break-even live

Break-even rent $6,040

Max offer price $784,900

Occupancy floor 48%

Sensitivity live

Price	-10% $7,427	-5% $7,205	+0% $6,982	+5% $6,760	+10% $6,538
Rent	-10% $5,807	-5% $6,395	+0% $6,982	+5% $7,570	+10% $8,158
Rate	-1.0pp $7,378	-0.5pp $7,182	base $6,982	+0.5pp $6,779	+1.0pp $6,572

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: $196,225
• Closing costs: $23,547
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $143 · $1,716/yr
• Likely covers: waterpoolsecurity

Listing history 31 events

1. 2026-06-19
   days on market $784,900 Active 123 DOM
2. 2026-06-18
   days on market $784,900 Active 122 DOM
3. 2026-06-17
   days on market $784,900 Active 121 DOM
4. 2026-06-16
   days on market $784,900 Active 120 DOM
5. 2026-06-15
   days on market $784,900 Active 119 DOM
6. 2026-06-14
   days on market $784,900 Active 117 DOM
7. 2026-06-12
   days on market $784,900 Active 116 DOM
8. 2026-06-09
   days on market $784,900 Active 113 DOM
9. 2026-06-08
   days on market $784,900 Active 112 DOM
10. 2026-06-07
    days on market $784,900 Active 111 DOM
11. 2026-06-05
    days on market $784,900 Active 108 DOM
12. 2026-06-03
    days on market $784,900 Active 107 DOM
13. 2026-06-02
    days on market $784,900 Active 106 DOM
14. 2026-06-01
    days on market $784,900 Active 105 DOM
15. 2026-05-31
    days on market $784,900 Active 104 DOM
16. 2026-05-30
    days on market $784,900 Active 103 DOM
17. 2026-04-13
    price $784,900
18. 2026-02-16
    listed $795,000 Active
19. 2024-06-29
    soldstatus $769,000 Closed 855-char remark

    Show marketing remark (855 chars)

    This new Streamline Developers Home features 4 bedrooms - with the Primary Suite on the main level, 3 1/2 Bathrooms, open concept living and a front porch and covered back porch to enjoy those Coastal Breezes! The Primary Suite features LVT Flooring, a walk-in closet and ensuite bathroom with a tiled walk-in shower. The kitchen is open to the casual dining and living space and features a large island and marble counter tops! There is an additional bonus area upstairs, perfect for an additional Family Room or Children's Play area. This home is in a central location in the beautiful neighborhood of Cannonsgate. This waterfront gated community features a Clubhouse, Community Pool, Children's Play Area and Tennis Courts. There is a community boat ramp with a separate Marina. Close to award-winning schools, shopping restaurants, and area beaches!

20. 2024-05-30
    status Pending 855-char remark

    Show marketing remark (855 chars)

    This new Streamline Developers Home features 4 bedrooms - with the Primary Suite on the main level, 3 1/2 Bathrooms, open concept living and a front porch and covered back porch to enjoy those Coastal Breezes! The Primary Suite features LVT Flooring, a walk-in closet and ensuite bathroom with a tiled walk-in shower. The kitchen is open to the casual dining and living space and features a large island and marble counter tops! There is an additional bonus area upstairs, perfect for an additional Family Room or Children's Play area. This home is in a central location in the beautiful neighborhood of Cannonsgate. This waterfront gated community features a Clubhouse, Community Pool, Children's Play Area and Tennis Courts. There is a community boat ramp with a separate Marina. Close to award-winning schools, shopping restaurants, and area beaches!

21. 2024-03-26
    price $769,000 855-char remark

    Show marketing remark (855 chars)

    This new Streamline Developers Home features 4 bedrooms - with the Primary Suite on the main level, 3 1/2 Bathrooms, open concept living and a front porch and covered back porch to enjoy those Coastal Breezes! The Primary Suite features LVT Flooring, a walk-in closet and ensuite bathroom with a tiled walk-in shower. The kitchen is open to the casual dining and living space and features a large island and marble counter tops! There is an additional bonus area upstairs, perfect for an additional Family Room or Children's Play area. This home is in a central location in the beautiful neighborhood of Cannonsgate. This waterfront gated community features a Clubhouse, Community Pool, Children's Play Area and Tennis Courts. There is a community boat ramp with a separate Marina. Close to award-winning schools, shopping restaurants, and area beaches!

22. 2023-10-20
    listed $749,000 Active 855-char remark

    Show marketing remark (855 chars)

    This new Streamline Developers Home features 4 bedrooms - with the Primary Suite on the main level, 3 1/2 Bathrooms, open concept living and a front porch and covered back porch to enjoy those Coastal Breezes! The Primary Suite features LVT Flooring, a walk-in closet and ensuite bathroom with a tiled walk-in shower. The kitchen is open to the casual dining and living space and features a large island and marble counter tops! There is an additional bonus area upstairs, perfect for an additional Family Room or Children's Play area. This home is in a central location in the beautiful neighborhood of Cannonsgate. This waterfront gated community features a Clubhouse, Community Pool, Children's Play Area and Tennis Courts. There is a community boat ramp with a separate Marina. Close to award-winning schools, shopping restaurants, and area beaches!

23. 2022-01-18
    soldstatus $26,500 650-char remark

    Show marketing remark (650 chars)

    Cannonsgate is taking off. This beautifully planned community has amenities like no other. .. Charleston design inspired clubhouse, pool, state of the marina, mail center, walking trails, playground, 24 hour lighted tennis courts. Golf cart friendly neighborhood with manned security gate. This lot faces the mail center and has access from your own private alley shared with just 2 neighbors. Ready to build your home, no clearing needed. Come be a part of the counties fastest growing community, just minutes from the Emerald Isle Beaches, Swansboro and Morehead City and within the school district of one of the states top ranked high schools.

24. 2022-01-18
    soldstatus $26,500

    Show marketing remark (650 chars)

    Cannonsgate is taking off. This beautifully planned community has amenities like no other. .. Charleston design inspired clubhouse, pool, state of the marina, mail center, walking trails, playground, 24 hour lighted tennis courts. Golf cart friendly neighborhood with manned security gate. This lot faces the mail center and has access from your own private alley shared with just 2 neighbors. Ready to build your home, no clearing needed. Come be a part of the counties fastest growing community, just minutes from the Emerald Isle Beaches, Swansboro and Morehead City and within the school district of one of the states top ranked high schools.

25. 2021-08-06
    listed $44,000 650-char remark

    Show marketing remark (650 chars)

    Cannonsgate is taking off. This beautifully planned community has amenities like no other. .. Charleston design inspired clubhouse, pool, state of the marina, mail center, walking trails, playground, 24 hour lighted tennis courts. Golf cart friendly neighborhood with manned security gate. This lot faces the mail center and has access from your own private alley shared with just 2 neighbors. Ready to build your home, no clearing needed. Come be a part of the counties fastest growing community, just minutes from the Emerald Isle Beaches, Swansboro and Morehead City and within the school district of one of the states top ranked high schools.

26. 2019-05-31
    historical
27. 2018-12-24
    listed $42,000
28. 2018-07-26
    historical
29. 2018-04-27
    listed $45,000
30. 2012-07-24
    soldstatus $12,000
31. 2012-07-24
    listed $8,000

ⓘ 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: $2,222 · $185/mo
• Projected year-2 tax: $6,436 · $536/mo
• Expected delta: +$4,214/yr (+$351/mo · 189.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $178,539
• − Mortgage interest: −$43,967
• − Property taxes: −$2,222
• − Insurance: −$3,924
• − Repairs & maintenance: −$14,283
• − Management: −$14,283
• − HOA: −$1,716
• − Depreciation: −$22,833
• Taxable income: $75,310
• Est. tax owed @ 24.0%: −$18,074
• After-tax cash flow: $65,715/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 — Bogue

• Score: 65/100
• State rank: #311
• US rank: #13024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• 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

+6440.8% since first listed

15 events — show timeline

• 2026-04-13 Price Changed $784,900 Hive MLS
• 2026-02-16 Listed $795,000 Hive MLS
• 2024-06-29 Sold (MLS) $769,000 Hive MLS
• 2024-05-30 Pending — Hive MLS
• 2024-03-26 Price Changed $769,000 Hive MLS
• 2023-10-20 Listed $749,000 Hive MLS
• 2022-01-18 Sold (Public Records) $26,500 Public Records
• 2022-01-18 Sold (MLS) $26,500 Hive MLS
• 2021-08-06 Listed $44,000 Hive MLS
• 2019-05-31 Listing Removed — Hive MLS
• 2018-12-24 Listed $42,000 Hive MLS
• 2018-07-26 Listing Removed — Hive MLS
• 2018-04-27 Listed $45,000 Hive MLS
• 2012-07-24 Listed $8,000 Hive MLS
• 2012-07-24 Sold (MLS) $12,000 Hive MLS

Property tax history

+55.8%/yr

Latest (2025): $2,222 · +2978.2% YoY. Source: county tax records.