145 Bellhammon Forest Dr · Rocky Point, NC 28457

$150,000

3 bd · 2.5 ba · 1,215 sqft · Manufactured public records · 27 Days on market

Built 1998 Est $242k · 38% under

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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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Schools +4.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

🏡 INVESTOR / FIXER-UPPER OPPORTUNITY 145 Bellhammon Forest Dr, Rocky Point, NC ⸻ 🛏 3 Bedrooms | 🛁 2 Full Bathrooms 💰 Asking: $150,000 CASH ⚒ Estimated Rehab: $40,000 & ndash; $50,000 💡 After Repair Value (ARV): $220,000 & ndash; $240,000 Pictures : https://drive. google.com/drive/folders/10yew7XxmFy2XUutugj3tJNJXiLMKaGmX PROPERTY FEATURES: & bull; Solid 3 bed / 2 bath layout & bull; Needs work & ndash; sell as-is & bull; Located in a growing area with strong upside potential & bull; Perfect for fix & amp; flip, rental, or buy & amp; hold . 0.4 acre lot. No HOA ⸻ RECENT SOLD COMPS NEARBY: & bull; 153 Bellhammon Forest Dr &

Key facts

• Built 1998
• Listed 27 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 2.4% in Rocky Point — 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 66/100 on livability (#275 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: health & safety D, schools F, amenities F.
• Pender County Schools (rural): math 49% / reading 50% proficiency, ranked #66 of 178 in NC (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 49 active listings in the ZIP; 943 units permitted in Pender 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 $4k of value loss. Plan a longer hold.
• Pender County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 10.42%
• Cash-on-cash: 14.75%
• DSCR: 1.66
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $241,785
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
190 Bellhammon Forest Dr	0.19mi	3/2.0	1,187 (-2%)	8mo	$218,000	$184	79
307 Buttonwood Ct	0.09mi	3/2.0	1,114 (-8%)	2mo	$222,000	$199	78
525 Brighton Rd	0.34mi	3/2.0	1,323 (+9%)	1mo	$205,000	$155	66
106 Summit Ridge Dr	0.37mi	3/2.0	1,103 (-9%)	8mo	$230,000	$209	59
117 Deepwoods Rdg	0.19mi	3/2.0	1,080 (-11%)	18mo	$220,000	$204	56

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.20×
• Total profit: $8,530
• Equity at exit: $22,365

10-year hold

• IRR: 14.6%
• Equity multiple: 2.18×
• Total profit: $49,564
• Equity at exit: $12,969

Cash invested: $42,000 (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 28457

• Home prices YoY: -23.6%
• Active inventory: 49
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,802 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$58 /mo · $696/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $516

Break-even live

Break-even rent $1,148

Max offer price $150,000

Occupancy floor 66%

Sensitivity live

Price	-10% $601	-5% $559	+0% $516	+5% $474	+10% $431
Rent	-10% $374	-5% $445	+0% $516	+5% $588	+10% $659
Rate	-1.0pp $592	-0.5pp $555	base $516	+0.5pp $478	+1.0pp $438

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-04-26
   listed $150,000 Active

ⓘ 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: $696 · $58/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$534/yr (+$44/mo · 76.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,623
• − Mortgage interest: −$8,402
• − Property taxes: −$696
• − Insurance: −$750
• − Repairs & maintenance: −$1,730
• − Management: −$1,730
• − Depreciation: −$4,364
• Taxable income: $3,951
• Est. tax owed @ 24.0%: −$948
• After-tax cash flow: $5,248/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: Pender County Schools
• NCES district ID: 3703570
• Math proficiency: 49% ▲ 3.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $45,792
• Composite: 41.97/100
• National rank: #3342
• State rank: #66 of 178 in NC

Livability — Rocky Point

• Score: 66/100
• State rank: #275
• US rank: #11918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,131

Population outlook (Pender County) Hauer SSP2

• Today (2025): 69,295 people
• By 2030: 74,990 · +8.2%
• By 2040: 85,954 · +24.0%
• By 2050: 95,925 · +38.4%
• By 2075: 117,525 · +69.6%
• By 2100: 129,074 · +86.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 17% Black 14% Two or more races 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1% Dominican 2%
• Common ancestry: Slovak 3% Romanian 2% Serbian 1%
• Foreign-born: 6% · Canada
• Languages at home: 87% English-only · Spanish 13%

Political lean MEDSL · Pender

• 2024 margin: Solid R (+35.0) · D 32.1% · R 67.0%
• 2008→2024 swing: -19.4pp toward R · 2008: -15.6pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+29.9 2016: R+30.4 2012: R+20.4 2008: R+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.00%
• Current HPI: 220.5312
• Rent YoY: —
• Metro: —
• 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

• 2026-04-26 Listed $150,000 FSBO.com

Property tax history

+5.3%/yr

Latest (2025): $696 · +0.0% YoY. Source: county tax records.