234 Ennett Ln · Sneads Ferry, NC 28460

$160,000

2 bd · 1.0 ba · 700 sqft · Other · 3 Days on market

Built 2000 0.50 ac lot

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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 +17.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Rent growth +3.9/5.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Buy this lot & get the mobile home FREE! Single wide mobile home in immaculate condition conveys at no value. Almost new metal garage is on the property as well as a large wood storage building. This is lot of value for the money. Just a short drive to the back gate and minutes from the public beach access on Topsail Island.

Key facts

• 1/2-acre lot
• New lvp floors
• Large oak trees

Tags

• 1/2-ACRE LOT
• LARGE OAK TREES
• NEW LVP FLOORS
• GRAVEL DRIVEWAY
• A/C LESS THAN 3 YEARS OLD
• ROOF REPLACED IN 2018

Property features AI

Finance

• Other: Zoning: RA; Lot size: 0.5 acres (approx. 100 x 216.73 x 218.93 x 100)

Exterior

• Parking: On-site parking (gravel)
• Utilities: Public water (water connected); Septic tank sewer
• Home design: Manufactured home (residential); One story; Entry level: 1; Facing details not specified
• Construction: Vinyl siding; Shingle roof; Foundation details: see remarks; Built year not specified
• Exterior features: Deck; Paved road access

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Total rooms: 4
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump and electric heating; Central air conditioning
• Interior features: Window coverings; Furnished; Has view
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $160k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/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 $155k (2.8% below list).
• Recommended offer: $155k (2.8% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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 $5k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $58k; list at $160k implies a 176% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,467 (2.8% 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 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?
3. 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?
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: 0.97% ✗
• Cap rate: 7.21%
• Cash-on-cash: 3.28%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.68% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.69×
• Total profit: $-13,799
• Equity at exit: $23,857

10-year hold

• IRR: 4.6%
• Equity multiple: 1.37×
• Total profit: $16,784
• Equity at exit: $13,834

Cash invested: $44,800 (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 28460

• Rents YoY: 5.7%
• Active inventory: 560
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,555 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $122

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 87%

Sensitivity live

Price	-10% $233	-5% $178	+0% $122	+5% $67	+10% $12
Rent	-10% $0	-5% $61	+0% $122	+5% $184	+10% $245
Rate	-1.0pp $203	-0.5pp $163	base $122	+0.5pp $81	+1.0pp $39

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-09
   status Pending
2. 2026-05-06
   listed $160,000 Active
3. 2012-07-23
   soldstatus $58,000 330-char remark

   Show marketing remark (330 chars)

   Buy this lot & get the mobile home FREE! Single wide mobile home in immaculate condition conveys at no value. Almost new metal garage is on the property as well as a large wood storage building. This is lot of value for the money. Just a short drive to the back gate and minutes from the public beach access on Topsail Island.

4. 2012-07-19
   soldstatus $58,000
5. 2012-02-29
   listed $59,900 330-char remark

   Show marketing remark (330 chars)

   Buy this lot & get the mobile home FREE! Single wide mobile home in immaculate condition conveys at no value. Almost new metal garage is on the property as well as a large wood storage building. This is lot of value for the money. Just a short drive to the back gate and minutes from the public beach access on Topsail Island.

6. 2009-02-12
   soldstatus $58,000
7. 2001-08-21
   soldstatus $18,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $18,656
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,492
• − Management: −$1,492
• − Depreciation: −$4,655
• Taxable loss: −$1,146
• Est. tax savings @ 24.0%: +$275
• After-tax cash flow: $1,745/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

+788.9% since first listed

7 events — show timeline

• 2026-05-09 Pending — Hive MLS
• 2026-05-06 Listed $160,000 Hive MLS
• 2012-07-23 Sold (MLS) $58,000 Hive MLS
• 2012-07-19 Sold (Public Records) $58,000 Public Records
• 2012-02-29 Listed $59,900 Hive MLS
• 2009-02-12 Sold (Public Records) $58,000 Public Records
• 2001-08-21 Sold (Public Records) $18,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $261 · +0.0% YoY. Source: county tax records.