118 Ryker Rd W · Moyock, NC 27958

$384,975

3 bd · 2.5 ba · 1,864 sqft · Land · 53 Days on market

Built 2026 $105/mo HOA · 3% of rent ↓ 47% since listing

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Why this score? — see what drove the D- 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 +10.1/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ROBERT FROST. SOLD. TBB

Key facts

• 2 garage spots
• Built 2026
• Listed 53 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $385k.

Deal economics

• At list price, monthly cash flow is $-229 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $352k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $321k (16.6% below list).
• Recommended offer: $321k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.6% in Moyock — 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 65/100 on livability (#313 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Currituck County Schools (rural): math 45% / reading 51% proficiency, ranked #67 of 178 in NC (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shawboro Elementary School (math 54% / reading 53%, grade C, #335 of 1,410 statewide, top 24%, 606 students, 30% FRL); Currituck County High (math 52% / reading 64%, grade C, #243 of 535 statewide, top 46%, 1,057 students, 30% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: 292 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 429 units permitted in Currituck County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($112k/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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Currituck County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($373k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $200k; list at $385k implies a 92% gain — meaningful room to come down on a strong offer.

Recommended offer $321,125 (16.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.83% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.54%
• DSCR: 0.89
• GRM: 10.0

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: -20.5%
• Equity multiple: 0.29×
• Total profit: $-76,828
• Equity at exit: $57,401

10-year hold

• IRR: -13.6%
• Equity multiple: 0.21×
• Total profit: $-85,189
• Equity at exit: $33,286

Cash invested: $107,793 (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 27958

• Home prices YoY: -3.7%
• Active inventory: 292
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,211 medium
• Mortgage (P&I): −$2,019
• Tax est. 1.5%: −$481 /mo · $5,775/yr
• Insurance: −$160
• HOA: −$105
• Vacancy / Maint / Mgmt: −$674
• Net cashflow: $-229

Break-even live

Break-even rent $3,501

Max offer price $351,898

Occupancy floor —

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: $96,244
• Closing costs: $11,549
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Iris Cir Moyock, NC	3.0	2.5	2512	$3,000	$1.19	3d	1	0.10mi
201 Oconner St Moyock, NC	3.0	2.5	1785	$2,750	$1.54	24d	1	0.12mi

HOA detail

• Monthly dues: $105 · $1,260/yr

Listing history 8 events

1. 2026-02-04
   soldstatus $200,000
2. 2026-01-24
   price $384,975
3. 2026-01-23
   status Under Contract
4. 2026-01-19
   price $414,990
5. 2026-01-15
   price $409,990
6. 2025-12-15
   price $369,990
7. 2025-12-11
   price $399,990
8. 2025-12-01
   listed $379,990 Active

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

Taxation est. · year 1

• Rental income: $38,535
• − Mortgage interest: −$21,565
• − Property taxes: −$5,775
• − Insurance: −$1,925
• − Repairs & maintenance: −$3,083
• − Management: −$3,083
• − HOA: −$1,260
• − Depreciation: −$11,199
• Taxable loss: −$9,354
• Est. tax savings @ 24.0%: +$2,245
• After-tax cash flow: $-498/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: Currituck County Schools
• NCES district ID: 3701080
• Math proficiency: 45% ▲ 2.00%
• Reading proficiency: 51% ▲ 5.00%
• Median HH income: $58,898
• Composite: 41.96/100
• National rank: #3348
• State rank: #67 of 178 in NC

Livability — Moyock

• Score: 65/100
• State rank: #313
• US rank: #12982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moyock, NC
• County: Currituck County · 14,408 people
• City population: 14,408
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 14,408
• Household income: $112,177
• Rent vs Own: 8.5% rent · 91.5% own
• Severe rent burden: 62.0

Population outlook (Currituck County) Hauer SSP2

• Today (2025): 28,690 people
• By 2030: 30,311 · +5.7%
• By 2040: 33,220 · +15.8%
• By 2050: 35,405 · +23.4%
• By 2075: 40,998 · +42.9%
• By 2100: 44,117 · +53.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 7% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Other Indo-European 2% Spanish 2%

Political lean MEDSL · Currituck

• 2024 margin: Solid R (+47.9) · D 25.6% · R 73.5%
• 2008→2024 swing: -16.4pp toward R · 2008: -31.5pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.2 2016: R+49.8 2012: R+35.1 2008: R+31.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.69%
• Current HPI: 278.2606
• Rent YoY: —
• Metro: Virginia Beach-Norfolk-Newport News, VA-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

-47.4% since first listed

8 events — show timeline

• 2026-02-04 Sold (Public Records) $200,000 Public Records
• 2026-01-24 Price Changed $384,975 REINMLS
• 2026-01-23 Pending — REINMLS
• 2026-01-19 Price Changed $414,990 REINMLS
• 2026-01-15 Price Changed $409,990 REINMLS
• 2025-12-15 Price Changed $369,990 REINMLS
• 2025-12-11 Price Changed $399,990 REINMLS
• 2025-12-01 Listed $379,990 REINMLS