206 E Hawks Nest Ct Lot 14 · Nags Head, NC 27959

$79,900

4 bd · 3.0 ba · 2,314 sqft · Condo · 9 Days on market

Built 1983 Fair condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

A co-ownership that is not a duplex! Unique, as it has no shared walls. All inclusive oceanfront co-ownership gives you 5 weeks annually of carefree beach living. Your deeded 1/10th ownership in this tastefully decorated, Old Nags Head style cottage provides generous outdoor and indoor living space. Enjoy private beach access just steps from the ocean side deck. There are 3 spacious bedrooms and two baths on the upper level and one bedroom and one bath on the main level. The upper ocean side deck (covered) opens from the master ensuite and presents panoramic views of the ocean. Beds are made when you arrive. The HOA fee, $400 per month. The monthly fee covers bed linens and towels, weekly cleaning, taxes, insurance, utilities, maintenance and management fee. The HOA is professionally managed. 2025 owner weeks are September 26 and December 12. 2026 weeks are April 10, May 22, July 10, October 2, December 18. Owners weeks rotate forward one week every year. (Two back to back two week stays occasionally occur. ) Owner may bring pets and the units may be rented. Owners exchange weeks. The seller will pay the September 2025 $500 special assessment.

Key facts

• Waterfront haven
• Stunning views
• Direct beach access

Tags

• OCEANFRONT CO-OWNERSHIP
• STUNNING VIEWS
• DIRECT BEACH ACCESS
• COZY WOOD BURNING FIREPLACE
• SPACIOUS LIVING AREAS
• WATERFRONT HAVEN

Property features AI

Finance

• HOA & community: Association fees include cable TV, electricity, water, and grounds maintenance

Exterior

• Parking: Attached paved garage
• Security: Smoke detectors
• Utilities: Public water; Septic tank sewer
• Home design: Residential stock cooperative (co-ownership); Ocean view
• Construction: Block, frame and wood siding construction; Wood roof
• Exterior features: Deck; Beachfront with beach access and oceanfront view; Located on a cul-de-sac; Level lot; Paved roads

Interior

• Kitchen: Range; Oven; Dishwasher; Microwave; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heat pump heating; Central heating; Electric heating; Central air conditioning; Ceiling fans
• Interior features: Furnished; Wine cooler
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).

Location & tenants

• Location reads 63/100 on livability (#435 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, housing B+; Watch: crime D+, cost of living D, amenities F.
• Dare County Schools (town): math 44% / reading 48% proficiency, ranked #77 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 106 active listings in the ZIP; 371 units permitted in Dare County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($552 loan paydown + $8k appreciation (10.0% local appreciation)).
• Dare County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $79,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.87% ✓
• Cap rate: 15.72%
• Cash-on-cash: 33.66%
• DSCR: 2.50
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.2%
• Equity multiple: 4.55×
• Total profit: $79,315
• Equity at exit: $71,980

10-year hold

• IRR: 41.0%
• Equity multiple: 10.19×
• Total profit: $205,593
• Equity at exit: $155,228

Cash invested: $22,372 (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 27959

• Home prices YoY: 7.0%
• Active inventory: 106
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,493 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $561

Break-even live

Break-even rent $783

Max offer price $79,900

Occupancy floor 57%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• ⚠ Special-assessment mentions:

  …Owner may bring pets and the units may be rented. Owners exchange weeks. The seller will pay the September 2025 $500 special assessment.

Listing history 8 events

1. 2026-06-18
   days on market $79,900 Active 9 DOM
2. 2026-06-17
   days on market $79,900 Active 8 DOM
3. 2026-06-16
   days on market $79,900 Active 7 DOM
4. 2026-06-15
   days on market $79,900 Active 6 DOM
5. 2026-06-13
   days on market $79,900 Active 4 DOM
6. 2026-06-12
   days on market $79,900 Active 3 DOM
7. 2026-06-09
   remarks 613-char remark
8. 2026-06-09
   listed $79,900 Active 1 DOM

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $17,920
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$1,197
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$2,324
• Taxable income: $5,857
• Est. tax owed @ 24.0%: −$1,406
• After-tax cash flow: $5,327/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This oceanfront cottage requires moderate renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major interior paint — Visible discoloration and peeling
• Major flooring — Worn and aged carpet
• Major landscaping — Overgrown vegetation and worn walkway

Value-add opportunities

• Resale paint exterior — Enhances curb appeal and property value
• Resale repair flooring — Improves living space and reduces maintenance costs
• Resale landscape — Enhances curb appeal and property value
• Resale paint interior — Enhances interior appearance and property value
• Resale replace flooring — Improves living space and reduces maintenance costs
• Resale landscape — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior paint · Visible discoloration and peeling	Major	$15,000–50,000
flooring · Worn and aged carpet	Major	$15,000–50,000
landscaping · Overgrown vegetation and worn walkway	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale paint exterior — Enhances curb appeal and property value ↑
• Resale repair flooring — Improves living space and reduces maintenance costs ↑
• Resale landscape — Enhances curb appeal and property value ↑
• Resale paint interior — Enhances interior appearance and property value ↑
• Resale replace flooring — Improves living space and reduces maintenance costs ↑
• Resale landscape — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dare County Schools
• NCES district ID: 3701110
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $54,233
• Composite: 39.86/100
• National rank: #3866
• State rank: #77 of 178 in NC

Livability — Nags Head

• Score: 63/100
• State rank: #435
• US rank: #16063

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nags Head, NC
• Population (ZIP): 3,172

Population outlook (Dare County) Hauer SSP2

• Today (2025): 39,201 people
• By 2030: 40,756 · +4.0%
• By 2040: 43,015 · +9.7%
• By 2050: 44,477 · +13.5%
• By 2075: 48,522 · +23.8%
• By 2100: 50,980 · +30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3% Black 1%
• Common ancestry: Romanian 8% Serbian 4% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Dare

• 2024 margin: R (+18.8) · D 40.1% · R 58.9%
• 2008→2024 swing: -9.5pp toward R · 2008: -9.2pp · 2024: -18.8pp
• All cycles: 2024: R+18.8 2020: R+16.5 2016: R+22.1 2012: R+16.1 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 42.66%
• Current HPI: 655.05
• 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

+33.4% since first listed

16 events — show timeline

• 2026-06-09 Listed $79,900 OBMLS
• 2025-09-22 Sold (MLS) $77,500 OBMLS
• 2025-08-29 Contingent — OBMLS
• 2025-08-28 Listed $77,000 OBMLS
• 2025-04-04 Price Changed $77,000 OBMLS
• 2025-04-04 Sold (MLS) $77,000 OBMLS
• 2025-03-17 Contingent — OBMLS
• 2024-12-02 Listed $90,000 OBMLS
• 2022-05-18 Sold (MLS) $65,000 OBMLS
• 2022-01-28 Listed $69,000 OBMLS
• 2020-09-09 Sold (MLS) $60,000 OBMLS
• 2020-07-26 Listed $63,900 OBMLS
• 2017-08-28 Sold (MLS) $55,000 OBMLS
• 2017-08-08 Sold (MLS) $57,500 OBMLS
• 2017-06-11 Listed $59,900 OBMLS
• 2017-05-12 Listed $59,900 OBMLS