233 Castlebury Ln · Swansboro, NC 28539

$229,900

4 bd · 2.0 ba · 2,052 sqft · Manufactured public records · 70 Days on market

Built 1996 0.34 ac lot Est $252k · 9% under

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Why this score? — see what drove the C- 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 +19.8/30.0
• ARV discount +11.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.0/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a 2052 sqft home with 4 bedrooms and 2.5 baths. Living room and a Family Room with a fireplace. Large workshop in the partial fenced back yard. Completely remodeled home. Everything is brand new. Stainless Steel Appliances smudge and fingerprint proof. New laminate hardwood floors throughout the entire home. Beautiful new Kitchen and Bathroom Floors. Brand new Kitchen Cabinets with brand new countertops. Master Bath features a walk in shower and a large Jacuzzi tub, double vanity, real wood cabinets with a granite countertop. Master bedroom has a large walk in closet. And 2 of the other rooms have walk in closets as well!!! Brand new Roof with a 30 year warranty. Brand new water heater. Brand new light fixtures inside and outside. New deck, new windows and the list just keeps going

Key facts

• Large front porch
• Above ground pool
• Back deck

Tags

• LARGE FRONT PORCH
• BACK DECK
• ABOVE GROUND POOL
• LARGE WORKSHOP

Property features AI

Finance

• Other: Zoning: R-8M

Exterior

• Parking: Gravel parking
• Utilities: Public water; Water connected; Septic tank sewer
• Home design: Manufactured home (residential); Single-story (one level); Entry level: 1; Irregular lot shape
• Construction: Block, vinyl siding and frame construction; Shingle roof; Permanent foundation; Built as a manufactured home
• Exterior features: Deck; Front porch; Rear porch; Above-ground pool; Shed(s); Privacy wood fencing enclosing backyard; Paved road access; Has a view

Interior

• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Ceiling fan(s); Crawl space basement (no finished basement)
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/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 $206k (10.2% below list).
• Recommended offer: $206k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.5% in Swansboro — 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 77/100 on livability (#32 in NC, #3,124 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, commute F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Queens Creek Elementary (math 46% / reading 59%, grade C-, #349 of 1,410 statewide, top 25%, 751 students, 52% FRL); Swansboro Middle (math 52% / reading 55%, grade C+, #87 of 475 statewide, top 19%, 967 students, 43% FRL); Swansboro High (math 77% / reading 68%, grade B+, #104 of 535 statewide, top 19%, 1,115 students, 38% FRL).
• Zoned-school proficiency averages 60% at this address vs 46% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Onslow County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.6%/yr); 322 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($67k/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.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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.
• Current owner paid $115k; list at $230k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,394 (10.2% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $252,396
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 N Cambridge St	0.37mi	3/2.0 (-1)	2,059 (+0%)	12mo	$213,000	$103	68
214 Castlebury Ln	0.15mi	3/2.0 (-1)	1,782 (-13%)	23mo	$218,500	$123	47
206 Castlebury Ln	0.21mi	3/2.0 (-1)	1,782 (-13%)	23mo	$220,000	$123	44

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 · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-20,756
• Equity at exit: $34,279

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $614
• Equity at exit: $19,878

Cash invested: $64,372 (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 28539

• Home prices YoY: -23.9%
• Rents YoY: 2.6%
• Active inventory: 322
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,064 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$56 /mo · $668/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $273

Break-even live

Break-even rent $1,718

Max offer price $229,900

Occupancy floor 82%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 N Winchester Ln Hubert, NC	4.0	2.0	1456	$1,700	$1.17	20d	1	0.40mi
131 Heron Watch Dr Hubert, NC	3.0	2.5	2140	$2,200	$1.03	20d	1	0.94mi
131 Heron Watch Dr Hubert, NC	3.0	2.5	2140	$2,200	$1.03	13d	1	0.94mi
135 Rosemary Ave Hubert, NC	3.0	2.5	1610	$2,100	$1.30	20d	1	0.96mi

Listing history 24 events

1. 2026-06-19
   days on market $229,900 Active 70 DOM
2. 2026-06-18
   days on market $229,900 Active 69 DOM
3. 2026-06-17
   days on market $229,900 Active 68 DOM
4. 2026-06-16
   days on market $229,900 Active 67 DOM
5. 2026-06-15
   days on market $229,900 Active 66 DOM
6. 2026-06-14
   days on market $229,900 Active 64 DOM
7. 2026-06-13
   days on market $229,900 Active 63 DOM
8. 2026-06-10
   days on market $229,900 Active 61 DOM
9. 2026-06-09
   days on market $229,900 Active 60 DOM
10. 2026-06-09
    days on market $229,900 Active 59 DOM
11. 2026-06-07
    days on market $229,900 Active 58 DOM
12. 2026-06-03
    days on market $229,900 Active 54 DOM
13. 2026-06-02
    days on market $229,900 Active 53 DOM
14. 2026-06-01
    days on market $229,900 Active 52 DOM
15. 2026-05-31
    days on market $229,900 Active 51 DOM
16. 2026-05-30
    days on market $229,900 Active 50 DOM
17. 2026-05-22
    price $229,900
18. 2026-04-10
    listed $233,000 Active
19. 2018-08-29
    soldstatus $115,000 800-char remark

    Show marketing remark (800 chars)

    This is a 2052 sqft home with 4 bedrooms and 2.5 baths. Living room and a Family Room with a fireplace. Large workshop in the partial fenced back yard. Completely remodeled home. Everything is brand new. Stainless Steel Appliances smudge and fingerprint proof. New laminate hardwood floors throughout the entire home. Beautiful new Kitchen and Bathroom Floors. Brand new Kitchen Cabinets with brand new countertops. Master Bath features a walk in shower and a large Jacuzzi tub, double vanity, real wood cabinets with a granite countertop. Master bedroom has a large walk in closet. And 2 of the other rooms have walk in closets as well!!! Brand new Roof with a 30 year warranty. Brand new water heater. Brand new light fixtures inside and outside. New deck, new windows and the list just keeps going

20. 2018-08-29
    soldstatus $115,000

    Show marketing remark (800 chars)

    This is a 2052 sqft home with 4 bedrooms and 2.5 baths. Living room and a Family Room with a fireplace. Large workshop in the partial fenced back yard. Completely remodeled home. Everything is brand new. Stainless Steel Appliances smudge and fingerprint proof. New laminate hardwood floors throughout the entire home. Beautiful new Kitchen and Bathroom Floors. Brand new Kitchen Cabinets with brand new countertops. Master Bath features a walk in shower and a large Jacuzzi tub, double vanity, real wood cabinets with a granite countertop. Master bedroom has a large walk in closet. And 2 of the other rooms have walk in closets as well!!! Brand new Roof with a 30 year warranty. Brand new water heater. Brand new light fixtures inside and outside. New deck, new windows and the list just keeps going

21. 2018-05-10
    listed $110,000 800-char remark

    Show marketing remark (800 chars)

    This is a 2052 sqft home with 4 bedrooms and 2.5 baths. Living room and a Family Room with a fireplace. Large workshop in the partial fenced back yard. Completely remodeled home. Everything is brand new. Stainless Steel Appliances smudge and fingerprint proof. New laminate hardwood floors throughout the entire home. Beautiful new Kitchen and Bathroom Floors. Brand new Kitchen Cabinets with brand new countertops. Master Bath features a walk in shower and a large Jacuzzi tub, double vanity, real wood cabinets with a granite countertop. Master bedroom has a large walk in closet. And 2 of the other rooms have walk in closets as well!!! Brand new Roof with a 30 year warranty. Brand new water heater. Brand new light fixtures inside and outside. New deck, new windows and the list just keeps going

22. 2004-02-23
    soldstatus $86,500
23. 2004-02-19
    soldstatus $86,500 129-char remark

    Show marketing remark (129 chars)

    LIKE NEW DOUBLEWIDE. WELL LANDSCAPED YARD FISHPOND IN BACK. POLE BARN IN BACKYARD. EMACULATE LARGE SPACIOUS KITCHEN, FAMILY ROOM.

24. 2003-08-09
    listed $89,900 129-char remark

    Show marketing remark (129 chars)

    LIKE NEW DOUBLEWIDE. WELL LANDSCAPED YARD FISHPOND IN BACK. POLE BARN IN BACKYARD. EMACULATE LARGE SPACIOUS KITCHEN, FAMILY ROOM.

ⓘ 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: $668 · $56/mo
• Projected year-2 tax: $1,885 · $157/mo
• Expected delta: +$1,217/yr (+$101/mo · 182.2%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,767
• − Mortgage interest: −$12,878
• − Property taxes: −$668
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,981
• − Management: −$1,981
• − Depreciation: −$6,688
• Taxable loss: −$579
• Est. tax savings @ 24.0%: +$139
• After-tax cash flow: $3,420/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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Swansboro

• Score: 77/100
• State rank: #32
• US rank: #3124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Onslow County · 164,453 people
• Metro: Jacksonville, NC
• Population (ZIP): 18,351
• Household income: $66,976
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 602.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 6% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.68%
• Current HPI: 186.871
• Rent YoY: ▲ 2.61%
• Metro: Jacksonville, 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

+155.7% since first listed

8 events — show timeline

• 2026-05-22 Price Changed $229,900 Hive MLS
• 2026-04-10 Listed $233,000 Hive MLS
• 2018-08-29 Sold (Public Records) $115,000 Public Records
• 2018-08-29 Sold (MLS) $115,000 Hive MLS
• 2018-05-10 Listed $110,000 Hive MLS
• 2004-02-23 Sold (Public Records) $86,500 Public Records
• 2004-02-19 Sold (MLS) $86,500 Hive MLS
• 2003-08-09 Listed $89,900 Hive MLS

Property tax history

-1.0%/yr

Latest (2025): $668 · +0.0% YoY. Source: county tax records.