725 Palm Frond Way #10 · Calabash, NC 28467

$209,990

3 bd · 2.5 ba · 1,734 sqft · Condo · 268 Days on market

Built 2026 Excellent condition Garage $121/sqft · 12% below area Est $238k · 12% under $186/mo HOA · 8% of rent ↓ 9% since listing

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Why this score? — see what drove the C 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 +16.8/30.0
• ARV discount +12.8/15.0
• 1% rule +5.7/10.0
• DSCR +5.2/10.0
• Condition / age +4.8/5.0
• Schools +4.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The Filmore model is a spacious townhome that has 3 Bedrooms with 2.5 baths. Beautiful brick accent sets this unit apart from the rest. Primary suite is on first level with walk in closet, double vanities and a shower. A powder room and laundry are also on the first level. The living room is open to the loft upstairs. The two secondary bedrooms upstairs are both 12x14 with a full bathroom to accomadate both. Beautiful White Kitchen Cabinets with Artic White Quartz countertops. LED lighting above the kitchen island, chrome hardware and LVP floors. Quiet community that is Pet friendly. Community incudes a dog park. Ask agent when you come to visit us for our current promotions.

Key facts

• Walk in closet
• Double vanities
• $186 HOA

Tags

• PRIMARY SUITE ON FIRST LEVEL
• WALK IN CLOSET
• DOUBLE VANITIES
• LAUNDRY ON FIRST LEVEL
• LIVING ROOM OPEN TO LOFT
• WHITE KITCHEN CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $210k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 4.0% in Calabash — 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 61/100 on livability (#487 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime 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: 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: 1083 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 36% 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 268 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.

Recommended offer $184,791 (12.0% below list)

Questions for the listing agent

1. It's been on market 268 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.07% ✓
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 7.8

CMA / ARV

• ARV (median comp): $237,778
• List price: $209,990
• Delta: -11.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
618 NW Tullimore Ln NW Lot 141 Harmony	0.26mi	3/2.0	1,654 (-5%)	1mo	$338,000	$204	77
1119 Forest Bend Dr NW	0.42mi	3/2.0	1,814 (+5%)	0mo	$317,000	$175	70
1119 Lot 108 NW Forest Bend Dr	0.42mi	3/2.0	1,814 (+5%)	0mo	$317,000	$175	70
1128 Forest Bend Dr NW	0.45mi	3/2.0	1,654 (-5%)	1mo	$308,000	$186	69
1128 Lot 103 NW Forest Bend Dr NW	0.45mi	3/2.0	1,654 (-5%)	1mo	$308,000	$186	69
506 Wampee St NW	0.26mi	3/2.0	1,544 (-11%)	1mo	$290,000	$188	67
1081 Rosefield Way NW	0.53mi	3/2.0	1,814 (+5%)	0mo	$399,845	$220	65
478 Wampee St NW	0.25mi	3/2.0	1,484 (-14%)	1mo	$279,900	$189	62
208 Pilothouse Pl	1.33mi	3/2.5	1,776 (+2%)	0mo	$254,000	$143	61
442 Sandlewood Dr NW	0.80mi	3/2.0	1,591 (-8%)	0mo	$409,400	$257	49
601 Boundaryline Dr NW	0.69mi	3/2.0	1,941 (+12%)	1mo	$458,000	$236	45
115 Boundary Loop Rd NW	1.25mi	3/2.0	2,038 (+18%)	1mo	$549,900	$270	37

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-25,244
• Equity at exit: $31,310

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-10,261
• Equity at exit: $18,156

Cash invested: $58,797 (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 →

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Median asking: $298,400 ($178/sqft)
• Median days on market: 123 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -22.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28467

• Home prices YoY: -33.7%
• Active inventory: 1083
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,244 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,150/yr
• Insurance: −$87
• HOA: −$186
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $136

Break-even live

Break-even rent $2,072

Max offer price $209,990

Occupancy floor 89%

Sensitivity live

Price	-10% $281	-5% $208	+0% $136	+5% $63	+10% $-10
Rent	-10% $-42	-5% $47	+0% $136	+5% $224	+10% $313
Rate	-1.0pp $241	-0.5pp $189	base $136	+0.5pp $81	+1.0pp $26

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: $52,498
• Closing costs: $6,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
495 Forthlin Dr NW Carolina Shores, NC	3.0	2.0	1818	$2,400	$1.32	51d	1	0.23mi
1204 Calabash Station Blvd NW Ocean Isle Beach, NC	3.0	2.0	1811	$2,200	$1.21	164d	1	0.36mi
3021 Siskin Dr NW Ocean Isl Bch, NC	2.0–3.0	2.0–2.5	1557	$2,455	$1.58	0d	15	0.36mi
692 Pickering Dr NW Calabash, NC	3.0	2.0	1326	$1,800	$1.36	41d	1	0.55mi
2033 Wild Indigo CIR NW Calabash, NC	3.0	3.0	1457	$1,775	$1.22	164d	1	0.99mi
2042 Parow Ln NW Calabash, NC	3.0	2.5	1680	$1,800	$1.07	154d	1	1.01mi
2084 Northwest Dr Unit E Carolina Shores, NC	3.0	2.5	1634	$1,795	$1.10	21d	1	1.05mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,292	$1.62	36d	41	1.31mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,109	$1.49	0d	10	1.31mi
9414 Barnstormer Dr Calabash, NC	3.0	2.0	1838	$2,250	$1.22	43d	1	1.45mi

Property features AI

Finance

• Other: Property listed for saleOwner-only pets allowed
• HOA & community: Homeowners association with a monthly fee of $186HOA covers association management, common areas, legal/accounting, grounds maintenance, recycling and trashCommunity allows long-term and short-term rentals; owner-allowed motorcycles; pet restrictions apply

Exterior

• Parking: Detached one-car garage with garage door opener (private)
• Security: Smoke detectorsInsulated doors
• Utilities: Public waterSewer availableElectricity availableTrash collectionUnderground utilities
• Home design: Entry level: 1New construction, never occupiedVinyl sidingHas home warrantyZoning: R-17
• Construction: Vinyl siding constructionSlab foundationNew construction
• Exterior features: Front porchSprinkler / irrigation systemCorner lotRectangular lotOutside city limits

Interior

• Kitchen: Kitchen islandBreakfast barPantryStainless steel appliancesSolid surface countertopsRangeMicrowaveDishwasherDisposal
• Bedrooms: First-floor bedroom (12x13) with walk-in closetSecond-floor bedroom (12x14)Second-floor bedroom (12x14)Loft (can function as additional bedroom/space)
• Flooring: CarpetLuxury vinyl / luxury vinyl plank
• Bathrooms: Two full bathroomsOne half bathroomPrimary bath includes dual sinks and separate shower
• Heating & cooling: Central heating (electric)Central air conditioning
• Interior features: Attic with pull-down and permanent attic stairsDual sinksLinen closetMain-level primary bedroomSplit bedroom layoutSeparate showerWalk-in closetsLoft
• Laundry & utility: Washer hookup

HOA detail $186/mo · $2,232/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $209,990 Active 268 DOM
2. 2026-11-07
   days on market $209,990 Active 267 DOM
3. 2026-11-06
   days on market $209,990 Active 266 DOM
4. 2026-11-05
   days on market $209,990 Active 265 DOM
5. 2026-11-04
   days on market $209,990 Active 264 DOM
6. 2026-11-02
   days on market $209,990 Active 262 DOM
7. 2026-11-01
   days on market $209,990 Active 261 DOM
8. 2026-10-31
   days on market $209,990 Active 260 DOM
9. 2026-10-30
   days on market $209,990 Active 259 DOM
10. 2026-10-29
    days on market $209,990 Active 258 DOM
11. 2026-10-28
    days on market $209,990 Active 257 DOM
12. 2026-10-27
    days on market $209,990 Active 256 DOM
13. 2026-10-26
    days on market $209,990 Active 255 DOM
14. 2026-10-26
    days on market $209,990 Active 254 DOM
15. 2026-10-24
    days on market $209,990 Active 253 DOM
16. 2026-10-23
    price $209,990 Active 252 DOM
17. 2026-10-23
    days on market $224,990 Active 252 DOM
18. 2026-10-22
    days on market $224,990 Active 251 DOM
19. 2026-10-21
    days on market $224,990 Active 250 DOM
20. 2026-10-20
    days on market $224,990 Active 249 DOM
21. 2026-10-19
    days on market $224,990 Active 248 DOM
22. 2026-10-18
    days on market $224,990 Active 247 DOM
23. 2026-10-17
    days on market $224,990 Active 246 DOM
24. 2026-10-16
    days on market $224,990 Active 245 DOM
25. 2026-10-15
    days on market $224,990 Active 244 DOM
26. 2026-10-14
    days on market $224,990 Active 243 DOM
27. 2026-10-13
    days on market $224,990 Active 242 DOM
28. 2026-10-12
    days on market $224,990 Active 241 DOM
29. 2026-10-11
    days on market $224,990 Active 240 DOM
30. 2026-10-10
    days on market $224,990 Active 239 DOM
31. 2026-10-09
    days on market $224,990 Active 238 DOM
32. 2026-10-08
    days on market $224,990 Active 237 DOM
33. 2026-10-07
    days on market $224,990 Active 236 DOM
34. 2026-10-06
    days on market $224,990 Active 235 DOM
35. 2026-10-05
    days on market $224,990 Active 234 DOM
36. 2026-10-04
    days on market $224,990 Active 233 DOM
37. 2026-10-03
    days on market $224,990 Active 232 DOM
38. 2026-10-02
    days on market $224,990 Active 231 DOM
39. 2026-10-02
    price $224,990 Active 230 DOM
40. 2026-10-01
    days on market $249,990 Active 230 DOM
41. 2026-09-30
    days on market $249,990 Active 229 DOM
42. 2026-09-29
    days on market $249,990 Active 228 DOM
43. 2026-09-28
    days on market $249,990 Active 227 DOM
44. 2026-09-27
    days on market $249,990 Active 226 DOM
45. 2026-09-26
    pricedays on market $249,990 Active 224 DOM
46. 2026-09-24
    days on market $242,990 Active 223 DOM
47. 2026-09-23
    days on market $242,990 Active 222 DOM
48. 2026-09-22
    days on market $242,990 Active 221 DOM
49. 2026-09-21
    days on market $242,990 Active 220 DOM
50. 2026-09-20
    days on market $242,990 Active 219 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,928
• − Mortgage interest: −$11,763
• − Property taxes: −$3,150
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,154
• − Management: −$2,154
• − HOA: −$2,232
• − Depreciation: −$6,109
• Taxable loss: −$1,684
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $2,031/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 · 13 photos

Excellent 95/100 None rehab

This townhouse is in excellent condition with a new open floor plan, high-end finishes, and a well-maintained exterior. It is move-in ready and would benefit from minor exterior updates to maximize its value.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping and adding plants — Improves curb appeal and enhances property value ↑
• Both Adding a small outdoor seating area — Increases rental appeal and adds value ↑

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Jessie Mae Monroe Elementary F NC #633/1,410 Nat'l #17,861/41,679 Middle Shallotte Middle D NC #160/475 Nat'l #4,622/14,009 High West Brunswick High C- NC #281/535 Nat'l #4,893/17,239

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

C Composite livability gradescore 61/100

Livability — Calabash

• Score: 61/100
• State rank: #487
• US rank: #17866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 152,111 people
• 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: 14% of renters

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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%

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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%
• Languages at home: 98% English-only · Spanish 1%

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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

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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

Property features AI

Finance

• Other: Property listed for saleOwner-only pets allowed
• HOA & community: Homeowners association with a monthly fee of $186HOA covers association management, common areas, legal/accounting, grounds maintenance, recycling and trashCommunity allows long-term and short-term rentals; owner-allowed motorcycles; pet restrictions apply

Exterior

• Parking: Detached one-car garage with garage door opener (private)
• Security: Smoke detectorsInsulated doors
• Utilities: Public waterSewer availableElectricity availableTrash collectionUnderground utilities
• Home design: Entry level: 1New construction, never occupiedVinyl sidingHas home warrantyZoning: R-17
• Construction: Vinyl siding constructionSlab foundationNew construction
• Exterior features: Front porchSprinkler / irrigation systemCorner lotRectangular lotOutside city limits

Interior

• Kitchen: Kitchen islandBreakfast barPantryStainless steel appliancesSolid surface countertopsRangeMicrowaveDishwasherDisposal
• Bedrooms: First-floor bedroom (12x13) with walk-in closetSecond-floor bedroom (12x14)Second-floor bedroom (12x14)Loft (can function as additional bedroom/space)
• Flooring: CarpetLuxury vinyl / luxury vinyl plank
• Bathrooms: Two full bathroomsOne half bathroomPrimary bath includes dual sinks and separate shower
• Heating & cooling: Central heating (electric)Central air conditioning
• Interior features: Attic with pull-down and permanent attic stairsDual sinksLinen closetMain-level primary bedroomSplit bedroom layoutSeparate showerWalk-in closetsLoft
• Laundry & utility: Washer hookup

Price history

-9.0% since first listed

3 events — show timeline

• 2026-03-26 Price Changed $244,990 CCAR
• 2026-03-11 Price Changed $269,990 CCAR
• 2026-02-13 Listed $269,220 CCAR