141 Pender Ln · Broad Creek, NC 28570

$565,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 21 Days on market

Built 2020 0.60 ac lot

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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
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for an INVESTOR OPPORTUNITY? How about THREE of them! That's right, this one-of-a-kind retreat is tucked away in a private setting down a short gravel road and offers THREE separate dwellings on approximately 0.59 acres, currently generating excellent rental income with future bookings already in place! The main residence is a beautifully updated doublewide manufactured home featuring an open floor plan, LVP flooring, recessed lighting, shiplap accent walls, updated fixtures and interior doors, and a spacious kitchen complete with an island, bar seating, and additional cabinetry. Both full baths offer double vanities and generous space, while the bedrooms feature ample closet storag

Key facts

• Spacious kitchen
• Large front deck
• Mini split system

Tags

• THREE SEPARATE DWELLINGS
• SPACIOUS KITCHEN
• PARTIALLY FENCED YARD
• LARGE FRONT DECK
• STUDIO STYLE APARTMENT
• MINI SPLIT SYSTEM

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Garage with workshop area; Gravel parking
• Utilities: Public water; Septic tank; Cable available
• Home design: Manufactured home; One level; Entry on level 1
• Construction: Vinyl siding over frame construction; Shingle roof; Crawl space foundation; Built as a manufactured home
• Exterior features: Deck; Front porch; Privacy, partial, vinyl and wood fencing; Has view; Guest house; Workshop; Spa/Hot tub

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Electric water heater
• Bedrooms: Total rooms: 7
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (electric); Central air; Ceiling fans
• Interior features: Kitchen island; Pantry; Ceiling fans; Window coverings; Furnished
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $565k.

Deal economics

• At list price, monthly cash flow is $7k ($79k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $565k).
• Recommended offer: $557k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#340 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Carteret County Public Schools (rural): math 59% / reading 61% proficiency, ranked #31 of 178 in NC (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bogue Sound Elementary (math 63% / reading 63%, grade B, #168 of 1,410 statewide, top 12%, 467 students, 99% FRL); Broad Creek Middle (math 63% / reading 68%, grade A-, #28 of 475 statewide, top 6%, 710 students, 100% FRL); Croatan High (math 82% / reading 78%, grade A, #73 of 535 statewide, top 13%, 974 students, 26% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 216 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).
• At $12,563/mo this rent would consume 215% of the median local household income ($70k/yr) (locally 461% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• Carteret County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $158k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($557k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $170k; list at $565k implies a 232% 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; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $556,525 (1.5% 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 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?
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: 2.22% ✓
• Cap rate: 20.33%
• Cash-on-cash: 50.14%
• DSCR: 3.23
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 47.8%
• Equity multiple: 3.08×
• Total profit: $329,279
• Equity at exit: $84,243

10-year hold

• IRR: 53.5%
• Equity multiple: 6.23×
• Total profit: $828,139
• Equity at exit: $48,851

Cash invested: $158,200 (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 28570

• Home prices YoY: -16.2%
• Active inventory: 216
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $12,563 medium
• Mortgage (P&I): −$2,963
• Tax from tax record: −$116 /mo · $1,391/yr
• Insurance: −$235
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,638
• Net cashflow: $6,610

Break-even live

Break-even rent $4,195

Max offer price $565,000

Occupancy floor 42%

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $565,000 Active 21 DOM
2. 2026-06-18
   days on market $565,000 Active 20 DOM
3. 2026-06-17
   days on market $565,000 Active 19 DOM
4. 2026-06-16
   days on market $565,000 Active 18 DOM
5. 2026-06-15
   days on market $565,000 Active 17 DOM
6. 2026-06-14
   days on market $565,000 Active 15 DOM
7. 2026-06-12
   days on market $565,000 Active 14 DOM
8. 2026-06-09
   days on market $565,000 Active 11 DOM
9. 2026-06-08
   days on market $565,000 Active 10 DOM
10. 2026-06-07
    days on market $565,000 Active 9 DOM
11. 2026-06-05
    days on market $565,000 Active 6 DOM
12. 2026-06-03
    days on market $565,000 Active 5 DOM
13. 2026-06-02
    days on market $565,000 Active 4 DOM
14. 2026-06-01
    days on market $565,000 Active 3 DOM
15. 2026-05-31
    days on market $565,000 Active 2 DOM
16. 2026-05-29
    listed $565,000 Active
17. 2026-05-19
    historical
18. 2026-05-16
    listed $578,999 Active
19. 2018-12-28
    soldstatus $170,000

ⓘ 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: $1,391 · $116/mo
• Projected year-2 tax: $4,633 · $386/mo
• Expected delta: +$3,242/yr (+$270/mo · 233.1%)

ⓘ 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) · 10% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $150,751
• − Mortgage interest: −$31,649
• − Property taxes: −$1,391
• − Insurance: −$2,825
• − Repairs & maintenance: −$12,060
• − Management: −$12,060
• − Depreciation: −$16,436
• Taxable income: $74,330
• Est. tax owed @ 24.0%: −$17,839
• After-tax cash flow: $61,483/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: Carteret County Public Schools
• NCES district ID: 3700630
• Math proficiency: 59% ▲ 5.00%
• Reading proficiency: 61% ▲ 2.00%
• Median HH income: $48,330
• Composite: 50.92/100
• National rank: #1786
• State rank: #31 of 178 in NC

Livability — Broad Creek

• Score: 64/100
• State rank: #340
• US rank: #13718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Broad Creek, NC
• County: Carteret County · 52,389 people
• Metro: Morehead City, NC
• Population (ZIP): 22,197
• Household income: $70,229
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 461.0

Population outlook (Carteret County) Hauer SSP2

• Today (2025): 73,443 people
• By 2030: 75,344 · +2.6%
• By 2040: 78,142 · +6.4%
• By 2050: 80,091 · +9.1%
• By 2075: 86,120 · +17.3%
• By 2100: 89,408 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Carteret

• 2024 margin: Solid R (+43.1) · D 28.0% · R 71.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -34.7pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+42.0 2016: R+44.5 2012: R+41.0 2008: R+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.54%
• Current HPI: 276.6589
• Rent YoY: —
• Metro: Morehead City, 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

+232.4% since first listed

4 events — show timeline

• 2026-05-29 Listed $565,000 Hive MLS
• 2026-05-19 Listing Removed — Hive MLS
• 2026-05-16 Listed $578,999 Hive MLS
• 2018-12-28 Sold (Public Records) $170,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,391 · +55.9% YoY. Source: county tax records.