2105 Osprey Isle Ln SW

Ocean Isl Bch, NC 28469

$219,500C-

3 bd · 3.0 ba · 1,437 sqft · Built 2026 · Townhouse · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,167/mo
• Mortgage (P&I): −$1,151
• Tax + insurance: −$366
• HOA: −$0
• Vac / Maint / Mgmt: −$455
• Net cashflow: $195/mo
• Annual: $2,337/yr
• Cap rate: 7.36%
• Cash-on-cash: 3.80%
• DSCR: 1.17
• 1% rule: 0.99%
• Cash to close: $61,460

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $220k. Condition is rated excellent.
• At list price, monthly cash flow is $195 ($2k/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 $217k (1.3% below list).
• It's been on market 31 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $213k (3.0% below list) — sets the bar for market timing.
• 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.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: Union Elementary (math 83% / reading 76%, grade A, #24 of 1,410 statewide, top 2%, 571 students, 100% 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.
• Zoned-school proficiency averages 59% at this address vs 46% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Brunswick County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 771 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 7.4% vs local median 5.2% in Ocean Isl Bch — 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.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.