335 Ridgewood Dr NW · Carolina Shores, NC 28467

$285,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 9 Days on market

Built 2021 0.32 ac lot Est $238k · 20% over $25/mo HOA · 1% of rent

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Why this score? — see what drove the F 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 +13.6/30.0
• DSCR +4.1/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOW TAXES, GREAT WEATHER on the beautiful southeastern North Carolina coast. Ocean Forest is a neatly kept subdivision in rural Brunswick county about 1 mile from the SC border. Close also to the Calabash River, Sunset Beach, restaurants, shopping, dozens of premiere golf courses and all coastal beaches. This is a wooded lot in a community that Residents manage the POA and the architectural standards committee which allows stick built, modular and mew manufactured homes on a foundation. Offered below the tax value.

Key facts

• New stained decking
• Dimmer switches
• Flat back yard

Tags

• FLAT BACK YARD
• CIRCULAR DRIVEWAY
• NEW STAINED DECKING
• NEW GUTTERS
• DIMMER SWITCHES
• ACCENT WALLS

Property features AI

Finance

• HOA & community: Homeowners association with $25 monthly fee (includes common areas)

Exterior

• Parking: Driveway with space for 4 vehicles
• Utilities: Electricity available; Sewer available; Public water available
• Home design: Double wide manufactured home; Resale property
• Construction: Vinyl siding; Crawlspace foundation; Built by Clayton Homes
• Exterior features: Deck; Front porch; Rectangular lot

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Stainless steel appliances
• Flooring: Carpet; Luxury vinyl; Luxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom floorplan; Stainless steel appliances; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $285k.

Deal economics

• At list price, monthly cash flow is $15 ($182/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 $221k (22.4% below list).
• Recommended offer: $221k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.9% in Carolina Shores — 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 64/100 on livability (#352 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B+; Watch: health & safety D, amenities F, commute F.
• Brunswick County Schools (rural): math 45% / reading 47% proficiency, ranked #82 of 178 in NC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jessie Mae Monroe Elementary (math 43% / reading 41%, grade F, #633 of 1,410 statewide, top 48%, 394 students, 99% FRL); Shallotte Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 674 students, 100% FRL); West Brunswick High (math 50% / reading 56%, grade C-, #281 of 535 statewide, top 53%, 1,526 students, 100% FRL) — zoned schools average 100% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 703 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 35% of the median local income ($75k/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 $9k of value loss. Plan a longer hold.
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 14y 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 $18k; list at $285k implies a 1441% 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; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,150 (22.4% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.78% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $238,336
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
368 Pinefield Ct NW	0.07mi	3/2.0	1,568 (0%)	16mo	$243,000	$155	83
313 Ocean Forest Dr NW	0.23mi	3/2.0	1,633 (+4%)	1mo	$200,000	$122	81
243 Ocean Forest Dr NW	0.35mi	3/2.0	1,548 (-1%)	5mo	$200,000	$129	78
259 Beachwood Dr NW	0.09mi	3/2.0	1,456 (-7%)	15mo	$237,500	$163	71
362 Pinefield Ct NW	0.03mi	2/2.0 (-1)	1,715 (+9%)	10mo	$261,000	$152	70
308 Ridgewood Dr NW	0.10mi	3/2.0	1,344 (-14%)	2mo	$200,000	$149	70
256 Ocean Forest Dr NW	0.34mi	3/2.0	1,560 (-0%)	17mo	$215,000	$138	69
319 Beachwood Dr NW	0.16mi	3/2.0	1,620 (+3%)	22mo	$274,500	$169	69
407 Maplewood Dr NW	0.15mi	3/2.0	1,337 (-15%)	1mo	$264,500	$198	67
292 Sweet Gum Ct NW	0.21mi	3/2.5	1,761 (+12%)	14mo	$228,500	$130	56
235 Ocean Forest Dr NW	0.33mi	3/2.0	1,406 (-10%)	15mo	$236,000	$168	55

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-45,327
• Equity at exit: $42,494

10-year hold

• IRR: -7.7%
• Equity multiple: 0.52×
• Total profit: $-38,681
• Equity at exit: $24,642

Cash invested: $79,800 (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 28467

• Home prices YoY: -33.7%
• Active inventory: 703
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,212 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$94 /mo · $1,123/yr
• Insurance: −$119
• HOA: −$25
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $15

Break-even live

Break-even rent $2,192

Max offer price $285,000

Occupancy floor 94%

Sensitivity live

Price	-10% $177	-5% $96	+0% $15	+5% $-65	+10% $-146
Rent	-10% $-160	-5% $-72	+0% $15	+5% $103	+10% $190
Rate	-1.0pp $159	-0.5pp $88	base $15	+0.5pp $-59	+1.0pp $-134

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2033 Wild Indigo CIR NW Calabash, NC	3.0	3.0	1457	$1,775	$1.22	25d	1	0.47mi
3021 Siskin Dr NW Calabash, NC	2.0–3.0	2.0–2.5	1557	$2,279	$1.46	15d	46	0.67mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,292	$1.62	23d	51	0.81mi
1204 Calabash Station Blvd NW Ocean Isle Beach, NC	3.0	2.0	1811	$2,200	$1.21	25d	1	0.95mi
1035 Brightwater Way Calabash, NC	1.0–3.0	1.0–2.5	1327	$2,145	$1.62	25d	1	1.12mi
1016 Harbor Dr Calabash, NC	4.0	2.0	1780	$2,400	$1.35	15d	1	1.18mi
70 Callaway Dr NW OCEAN ISL BCH, NC	2.0–3.0	2.0	1324	$1,882	$1.42	15d	35	1.21mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 32 events

1. 2026-06-22
   days on market $285,000 Active 9 DOM
2. 2026-06-18
   days on market $285,000 Active 6 DOM
3. 2026-06-17
   days on market $285,000 Active 5 DOM
4. 2026-06-16
   days on market $285,000 Active 4 DOM
5. 2026-06-15
   days on market $285,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   pricedays on marketlisting id $285,000 Active 1 DOM
8. 2026-06-10
   days on market $295,000 Active 35 DOM
9. 2026-06-09
   days on market $295,000 Active 34 DOM
10. 2026-06-08
    days on market $295,000 Active 33 DOM
11. 2026-06-07
    days on market $295,000 Active 32 DOM
12. 2026-06-05
    days on market $295,000 Active 29 DOM
13. 2026-06-03
    days on market $295,000 Active 28 DOM
14. 2026-06-02
    days on market $295,000 Active 27 DOM
15. 2026-06-01
    days on market $295,000 Active 26 DOM
16. 2026-05-31
    days on market $295,000 Active 25 DOM
17. 2026-05-30
    days on market $295,000 Active 24 DOM
18. 2026-05-06
    listed $295,000 Active
19. 2020-12-14
    soldstatus $18,500 520-char remark

    Show marketing remark (520 chars)

    LOW TAXES, GREAT WEATHER on the beautiful southeastern North Carolina coast. Ocean Forest is a neatly kept subdivision in rural Brunswick county about 1 mile from the SC border. Close also to the Calabash River, Sunset Beach, restaurants, shopping, dozens of premiere golf courses and all coastal beaches. This is a wooded lot in a community that Residents manage the POA and the architectural standards committee which allows stick built, modular and mew manufactured homes on a foundation. Offered below the tax value.

20. 2020-02-18
    listed $19,900 520-char remark

    Show marketing remark (520 chars)

    LOW TAXES, GREAT WEATHER on the beautiful southeastern North Carolina coast. Ocean Forest is a neatly kept subdivision in rural Brunswick county about 1 mile from the SC border. Close also to the Calabash River, Sunset Beach, restaurants, shopping, dozens of premiere golf courses and all coastal beaches. This is a wooded lot in a community that Residents manage the POA and the architectural standards committee which allows stick built, modular and mew manufactured homes on a foundation. Offered below the tax value.

21. 2019-12-23
    historical
22. 2018-12-23
    listed $19,900
23. 2018-10-20
    historical
24. 2017-02-21
    listed $18,000
25. 2016-12-31
    historical
26. 2016-02-14
    listed $18,000
27. 2015-06-30
    historical
28. 2014-08-18
    listed $18,000
29. 2014-02-28
    historical
30. 2014-02-28
    historical
31. 2012-10-15
    listed $28,000
32. 2012-06-15
    listed $28,000

ⓘ 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: $1,123 · $94/mo
• Projected year-2 tax: $2,337 · $195/mo
• Expected delta: +$1,214/yr (+$101/mo · 108.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,538
• − Mortgage interest: −$15,964
• − Property taxes: −$1,123
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,123
• − Management: −$2,123
• − HOA: −$300
• − Depreciation: −$8,291
• Taxable loss: −$4,811
• Est. tax savings @ 24.0%: +$1,155
• After-tax cash flow: $1,337/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: Brunswick County Schools
• NCES district ID: 3700420
• Math proficiency: 45% ▲ 4.00%
• Reading proficiency: 47% ▲ 4.00%
• Median HH income: $47,494
• Composite: 39.23/100
• National rank: #4011
• State rank: #82 of 178 in NC

Livability — Carolina Shores

• Score: 64/100
• State rank: #352
• US rank: #13907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 13,313
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 13,313
• Household income: $75,341
• Rent vs Own: 10.4% rent · 89.6% own
• Severe rent burden: 81.0

Population outlook (Brunswick County) Hauer SSP2

• Today (2025): 152,111 people
• By 2030: 165,705 · +8.9%
• By 2040: 188,494 · +23.9%
• By 2050: 206,228 · +35.6%
• By 2075: 237,876 · +56.4%
• By 2100: 251,451 · +65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Brunswick

• 2024 margin: Strong R (+24.9) · D 37.2% · R 62.0%
• 2008→2024 swing: -6.9pp toward R · 2008: -17.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+25.0 2016: R+28.7 2012: R+22.2 2008: R+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.90%
• Current HPI: 133.7186
• Rent YoY: —
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-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

+953.6% since first listed

15 events — show timeline

• 2026-05-06 Listed $295,000 CCAR
• 2020-12-14 Sold (MLS) $18,500 Hive MLS
• 2020-02-18 Listed $19,900 Hive MLS
• 2019-12-23 Listing Removed — Hive MLS
• 2018-12-23 Listed $19,900 Hive MLS
• 2018-10-20 Listing Removed — Hive MLS
• 2017-02-21 Listed $18,000 Hive MLS
• 2016-12-31 Listing Removed — Hive MLS
• 2016-02-14 Listed $18,000 Hive MLS
• 2015-06-30 Listing Removed — Hive MLS
• 2014-08-18 Listed $18,000 Hive MLS
• 2014-02-28 Listing Removed — Hive MLS
• 2014-02-28 Listing Removed — Hive MLS
• 2012-10-15 Listed $28,000 Hive MLS
• 2012-06-15 Listed $28,000 Hive MLS

Property tax history

+35.3%/yr

Latest (2025): $1,123 · +2.7% YoY. Source: county tax records.