7241 Hunters Ridge Dr · Leland, NC 28451

$179,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 16 Days on market

Built 1997 0.57 ac lot Est $258k · 30% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom, 2 bath home on over half acre in quiet, Leland community. Features include custom built-ins in the Living Room, low maintenance laminate floors, ceramic tile, 2 large decks, and much, much more. This is a potential short sale and will require 3rd party approval.

Key facts

• Split floorplan
• Over half acre
• 2 rollup doors

Tags

• SPLIT FLOORPLAN
• OVER HALF ACRE
• I30X24 STORAGE BUILDING
• 2 ROLLUP DOORS

Property features AI

Finance

• Other: Zoning: CO-RR

Exterior

• Parking: Detached garage; 2 garage spaces; 2 parking spaces total
• Utilities: Public or standard utilities (water/sewer/power not specified)
• Home design: Manufactured home; One story; Entry level: 1
• Construction: Vinyl siding and frame construction; See remarks for additional construction details; Permanent foundation; Shingle roof; Built as a manufactured home
• Exterior features: Deck; Has a view; Paved road access

Interior

• Kitchen: Dishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Dishwasher; No basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $670 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 3.2% in Leland — 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 68/100 on livability (#177 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; 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: Town Creek Elementary (math 50% / reading 53%, grade C-, #392 of 1,410 statewide, top 28%, 654 students, 100% FRL); Town Creek Middle (math 35% / reading 43%, grade F, #238 of 475 statewide, top 51%, 500 students, 99% FRL); North Brunswick High (math 57% / reading 49%, grade C-, #281 of 535 statewide, top 53%, 1,450 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: Rents rising (+1.2%/yr); 1224 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

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.
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $180k implies a 239% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major 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 $177,201 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.31% ✓
• Cap rate: 11.59%
• Cash-on-cash: 18.94%
• DSCR: 1.84
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $258,048
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7188 Hunters Ridge Dr NE	0.11mi	3/2.0	1,296 (-4%)	12mo	$210,000	$162	79
519 Maco Rd NE	0.24mi	3/2.0	1,184 (-12%)	5mo	$227,000	$192	65

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $9,403
• Equity at exit: $26,824

10-year hold

• IRR: 12.7%
• Equity multiple: 1.93×
• Total profit: $46,886
• Equity at exit: $15,554

Cash invested: $50,372 (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 28451

• Rents YoY: 1.2%
• Active inventory: 1224
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,355 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$47 /mo · $568/yr
• Insurance: −$75
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $670

Break-even live

Break-even rent $1,507

Max offer price $179,900

Occupancy floor 67%

Sensitivity live

Price	-10% $771	-5% $721	+0% $670	+5% $619	+10% $568
Rent	-10% $484	-5% $577	+0% $670	+5% $763	+10% $856
Rate	-1.0pp $760	-0.5pp $715	base $670	+0.5pp $623	+1.0pp $576

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3915 Starry Sky Rd Leland, NC	3.0	2.0	1708	$2,440	$1.43	22d	1	1.10mi
3907 Starry Sky Rd Leland, NC	3.0	2.0	1665	$2,294	$1.38	25d	1	1.12mi
9125 Sunrise Creek Dr Leland, NC	4.0	2.5	1772	$2,440	$1.38	25d	1	1.19mi
3828 Starry Sky Rd Leland, NC	4.0	2.5	1772	$2,540	$1.43	15d	1	1.25mi

Listing history 13 events

1. 2026-06-22
   days on market $179,900 Active 16 DOM
2. 2026-06-18
   days on market $179,900 Active 13 DOM
3. 2026-06-17
   days on market $179,900 Active 12 DOM
4. 2026-06-16
   remarks 319-char remark
5. 2026-06-16
   days on market $179,900 Active 11 DOM
6. 2026-06-15
   days on market $179,900 Active 10 DOM
7. 2026-06-14
   days on market $179,900 Active 8 DOM
8. 2026-06-13
   pricedays on market $179,900 Active 7 DOM
9. 2026-06-10
   days on market $190,000 Active 5 DOM
10. 2026-06-09
    days on market $190,000 Active 4 DOM
11. 2026-06-08
    days on market $190,000 Active 3 DOM
12. 2026-06-07
    remarks 264-char remark
13. 2026-06-07
    listed $190,000 Active 2 DOM

ⓘ 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: $568 · $47/mo
• Projected year-2 tax: $1,475 · $123/mo
• Expected delta: +$908/yr (+$76/mo · 159.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,261
• − Mortgage interest: −$10,077
• − Property taxes: −$568
• − Insurance: −$2,402
• − Repairs & maintenance: −$2,261
• − Management: −$2,261
• − Depreciation: −$5,233
• Taxable income: $5,459
• Est. tax owed @ 24.0%: −$1,310
• After-tax cash flow: $6,726/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 — Leland

• Score: 68/100
• State rank: #177
• US rank: #9158

Category grades

Amenities F Commute F Cost of living B+ Crime A+ Employment A 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: 46,933
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 46,933
• Household income: $81,481
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 1049.0

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 (71%)
• Race & ethnicity: White 71% Black 12% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 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: ▼ -99.99%
• Current HPI: 148.6217
• Rent YoY: ▲ 1.24%
• 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

+196.9% since first listed

7 events — show timeline

• 2026-06-05 Listed $190,000 Hive MLS
• 2013-02-18 Sold (Public Records) $53,000 Public Records
• 2013-02-15 Sold (MLS) $53,000 Hive MLS
• 2012-09-08 Listed $62,000 Hive MLS
• 2006-09-14 Listing Removed — Hive MLS
• 2006-07-12 Listed $99,500 Hive MLS
• 2001-10-01 Sold (Public Records) $64,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $568 · +5.4% YoY. Source: county tax records.