108 Sherry St · Sneads Ferry, NC 28460

$189,990

3 bd · 2.0 ba · 840 sqft · Manufactured public records · 125 Days on market

Built 1986 0.44 ac lot Est $174k · 9% over

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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 +24.6/30.0
• DSCR +7.9/10.0
• 1% rule +5.0/10.0
• Rent growth +3.9/5.0
• Schools +3.9/10.0
• ARV discount +3.3/15.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable home with 2 bedrooms and 2 baths. Single wide mobile home with addition under one metal roof offer approximately 1260 sq. ft. The addition leads out onto a nice covered patio. Garage, lean to and shed are bonus assets. Yard is nicely landscaped with dogwood and magnolia trees, even blueberry bushes! The lot is . 44 acre and located just minutes from beaches, MARSOC and shopping. Call for appointment.

Key facts

• Open living spaces
• Waterfront dining
• Local boat ramps

Tags

• QUICK ACCESS TO CAMP LEJEUNE
• OPEN LIVING SPACES
• FUNCTIONAL LAYOUT
• YARD IDEAL FOR RELAXATION
• LOCAL BOAT RAMPS
• WATERFRONT DINING

Property features AI

Exterior

• Parking: Attached garage (2 spaces); Unpaved parking
• Security: Storm door(s)
• Utilities: Well and public water available; Septic tank; Underground utilities; Water connected
• Home design: Manufactured home; One level; Aluminum siding exterior
• Construction: Metal roof; Frame construction
• Exterior features: Covered patio and porch; Porch; Above-ground pool; Shed(s); Workshop; Has view

Interior

• Kitchen: Electric oven; Freezer; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: Total rooms: 5
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Wall/window unit(s); Propane and electric heating; Forced air; Heat pump
• Interior features: Walk-in closets; Ceiling fans; Storm windows; Window coverings; Crawl space (no finished basement)
• Laundry & utility: Washer; Dryer; Laundry located in hall laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.0% in Sneads Ferry — 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 63/100 on livability (#398 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety D, 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: Dixon Elementary (math 63% / reading 66%, grade B, #147 of 1,410 statewide, top 11%, 736 students, 30% FRL); Dixon Middle (math 49% / reading 53%, grade C, #106 of 475 statewide, top 22%, 948 students, 39% FRL); Dixon High (math 62% / reading 72%, grade B, #142 of 535 statewide, top 28%, 1,149 students, 33% FRL) — zoned schools at 34% FRL track the district average.
• Zoned-school proficiency averages 61% at this address vs 46% district-wide (+15 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 fast (+5.7%/yr); 560 active listings in the ZIP; solid renter incomes; 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $144k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,191 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.85%
• DSCR: 1.39
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $173,880
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Tasha St	0.21mi	3/2.0	920 (+10%)	16mo	$190,000	$207	61

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 · 5.68% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-626
• Equity at exit: $28,328

10-year hold

• IRR: 11.7%
• Equity multiple: 2.02×
• Total profit: $54,122
• Equity at exit: $16,427

Cash invested: $53,197 (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 28460

• Rents YoY: 5.7%
• Active inventory: 560
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,907 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $392

Break-even live

Break-even rent $1,410

Max offer price $189,990

Occupancy floor 74%

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: $47,498
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-31
   days on market $189,990 Active 125 DOM
2. 2026-05-30
   days on market $189,990 Active 124 DOM
3. 2026-04-29
   price $189,990
4. 2026-03-26
   price $194,900
5. 2026-01-26
   listed $199,900 Active
6. 2023-04-16
   historical
7. 2022-12-19
   price $175,000
8. 2022-11-03
   price $179,999
9. 2022-10-21
   listed $189,999 Active
10. 2021-10-25
    soldstatus $144,000 415-char remark

    Show marketing remark (415 chars)

    Affordable home with 2 bedrooms and 2 baths. Single wide mobile home with addition under one metal roof offer approximately 1260 sq. ft. The addition leads out onto a nice covered patio. Garage, lean to and shed are bonus assets. Yard is nicely landscaped with dogwood and magnolia trees, even blueberry bushes! The lot is . 44 acre and located just minutes from beaches, MARSOC and shopping. Call for appointment.

11. 2021-08-27
    listed $150,000 415-char remark

    Show marketing remark (415 chars)

    Affordable home with 2 bedrooms and 2 baths. Single wide mobile home with addition under one metal roof offer approximately 1260 sq. ft. The addition leads out onto a nice covered patio. Garage, lean to and shed are bonus assets. Yard is nicely landscaped with dogwood and magnolia trees, even blueberry bushes! The lot is . 44 acre and located just minutes from beaches, MARSOC and shopping. Call for appointment.

ⓘ 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: $465 · $39/mo
• Projected year-2 tax: $1,558 · $130/mo
• Expected delta: +$1,093/yr (+$91/mo · 235.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,881
• − Mortgage interest: −$10,642
• − Property taxes: −$465
• − Insurance: −$950
• − Repairs & maintenance: −$1,830
• − Management: −$1,830
• − Depreciation: −$5,527
• Taxable income: $1,636
• Est. tax owed @ 24.0%: −$393
• After-tax cash flow: $4,313/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 — Sneads Ferry

• Score: 63/100
• State rank: #398
• US rank: #15272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Onslow County · 164,453 people
• City population: 13,532
• Metro: Jacksonville, NC
• Population (ZIP): 13,532
• Household income: $88,908
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 349.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 13% Hispanic / Latino 9% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 2%
• Common ancestry: Lithuanian 3% Romanian 2% Portuguese 2%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 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: ▼ -162.21%
• Current HPI: 176.3461
• Rent YoY: ▲ 5.68%
• 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

+26.7% since first listed

9 events — show timeline

• 2026-04-29 Price Changed $189,990 Hive MLS
• 2026-03-26 Price Changed $194,900 Hive MLS
• 2026-01-26 Listed $199,900 Hive MLS
• 2023-04-16 Listing Removed — Hive MLS
• 2022-12-19 Price Changed $175,000 Hive MLS
• 2022-11-03 Price Changed $179,999 Hive MLS
• 2022-10-21 Listed $189,999 Hive MLS
• 2021-10-25 Sold (MLS) $144,000 Hive MLS
• 2021-08-27 Listed $150,000 Hive MLS

Property tax history

+0.5%/yr

Latest (2025): $465 · +0.0% YoY. Source: county tax records.