2105 Country Living Ln · Morehead City, NC 28557

$85,000

3 bd · 2.0 ba · 1,039 sqft · Manufactured · 2 Days on market

Built 2001 Fair condition

---

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
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

AFFORDABLE COASTAL LIVING IN MOREHEAD CITY! Don't miss this well-maintained 3-bedroom, 2-bath manufactured home located at 2105 Country Living Lane in Morehead City. Offering a comfortable layout and plenty of living space, this home is a great opportunity for anyone looking for an affordable primary residence, vacation home, or investment property near the coast. This home has been cared for and is ready for its next owner. Conveniently located close to shopping, dining, boating, fishing, and the beautiful Crystal Coast beaches, you'll enjoy everything the Morehead City area has to offer. A storage shed provides additional space for tools, outdoor equipment, and extra storage. IMPORTANT:

Key facts

• Storage shed
• Screen porches
• Convenient location

Tags

• STORAGE SHED
• SCREEN PORCHES
• CONVENIENT LOCATION
• CLOSE TO SHOPPING
• DINING

Property features AI

Finance

• Financial info: Land is leased with a monthly land lease of $650
• HOA & community: Community maintenance of grounds; Trash service

Exterior

• Parking: On-site parking
• Utilities: Water available; Septic tank
• Home design: Manufactured home (residential); One level/one story; Entry on level 1
• Construction: Vinyl siding and frame construction; Shingle roof; Unfinished basement; Other foundation
• Exterior features: Covered patio/porch; Screened porch; Front porch; Rear porch; Shed(s); Has a view; No fencing

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Total rooms: 5
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric heating; Other heating
• Interior features: Walk-in closet(s); Ceiling fan(s); Eat-in kitchen; Window coverings; Furnished negotiable
• Laundry & utility: Washer (hookup available); Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $841 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 18.2% vs local median 2.0% in Morehead City — 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 (#412 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A-, housing B; Watch: employment D+, crime D-, amenities F.
• 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: Morehead City Primary (math 62% / reading 57%, grade B-, #205 of 1,410 statewide, top 16%, 545 students, 98% FRL); Morehead City Middle (math 53% / reading 63%, grade B, #59 of 475 statewide, top 13%, 482 students, 99% FRL); West Carteret High (math 82% / reading 71%, grade A-, #89 of 535 statewide, top 16%, 1,146 students, 40% FRL) — zoned schools average 79% FRL vs 39% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 141 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).
• This rent runs 32% of the median local income ($69k/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 $588 of loan paydown is wiped out by about $3k 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 + 4.8% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $85,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.13% ✓
• Cap rate: 18.17%
• Cash-on-cash: 42.40%
• DSCR: 2.89
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.8% rent growth · sell at horizon

5-year hold

• IRR: 41.2%
• Equity multiple: 2.81×
• Total profit: $43,151
• Equity at exit: $12,674

10-year hold

• IRR: 48.2%
• Equity multiple: 6.08×
• Total profit: $120,848
• Equity at exit: $7,349

Cash invested: $23,800 (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 28557

• Home prices YoY: -33.2%
• Rents YoY: 4.8%
• Active inventory: 141
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,808 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $841

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 48%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-17
   days on market $85,000 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $85,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,697
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$2,473
• Taxable income: $9,292
• Est. tax owed @ 24.0%: −$2,230
• After-tax cash flow: $7,862/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.

Condition & rehab AI · 12 photos

Fair 45/100 Cosmetic rehab

This manufactured home is in fair condition with some cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — can be replaced with modern ones
• Minor bathroom fixtures — can be updated with new ones
• Minor landscaping — simple landscaping can be improved

Value-add opportunities

• Resale paint interior walls — enhances the home's appearance
• Resale replace countertops — modernizes the kitchen
• Resale update fixtures — modernizes the bathrooms
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · can be replaced with modern ones	Minor	$500–3,000
bathroom fixtures · can be updated with new ones	Minor	$500–3,000
landscaping · simple landscaping can be improved	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale paint interior walls — enhances the home's appearance ↑
• Resale replace countertops — modernizes the kitchen ↑
• Resale update fixtures — modernizes the bathrooms ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Morehead City

• Score: 63/100
• State rank: #412
• US rank: #15497

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• City population: 15,253
• Metro: Morehead City, NC
• Population (ZIP): 15,253
• Household income: $68,528
• Rent vs Own: 37.5% rent · 62.5% own
• Severe rent burden: 535.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 6% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Serbian 3% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% French/Haitian/Cajun 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: ▼ -135.51%
• Current HPI: 272.1497
• Rent YoY: ▲ 4.80%
• 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

1 event — show timeline

• 2026-06-13 Listed $85,000 Hive MLS