Hs Ocean Isle Bch Ph 2 · Ocean Isle Beach, NC 28469

$253,900

3 bd · 2.0 ba · 1,259 sqft · SingleFamily · 230 Days on market

Built 2025

---

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 +11.9/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This spacious single-story home features a versatile bedroom off the foyer, ideal as a designated guest room or an at-home office. It's followed by a welcoming family room with free-flowing access to the multi-functional kitchen and an intimate dining area. The remaining two bedrooms are tucked away to provide tranquil retreats, including the owner's suite with an attached bathroom and oversized walk-in closet.

Key facts

• 2 garage spots
• Built 2025
• Listed 229 days

Property features AI

Finance

• Other: Living area approximately 1,474; Listing status: Active
• Financial info: List price $269,000

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Condominium / townhouse style (part of Hs Ocean Isle Bch Ph 2); Single-level entry
• Construction: New construction (plan: NEWLIN)
• Exterior features: Located in Ocean Isle Beach

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec new construction

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $254k.

Deal economics

• At list price, monthly cash flow is $-63 ($-758/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (15.7% below list).
• Recommended offer: $214k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 1.4% in Ocean Isle Beach — 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 62/100 on livability (#454 in NC) — a middle-class / working-renter tenant base. Strengths: 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.
• Market conditions: 536 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $8k 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 230 days — a 12% lower offer ($223k) is reasonable based on typical stale-listing flexibility.

Recommended offer $214,114 (15.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 230 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 9.9

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: -18.0%
• Equity multiple: 0.37×
• Total profit: $-45,132
• Equity at exit: $37,857

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-44,348
• Equity at exit: $21,953

Cash invested: $71,092 (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 28469

• Active inventory: 536
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,141 medium
• Mortgage (P&I): −$1,331
• Tax est. 1.5%: −$317 /mo · $3,808/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $-63

Break-even live

Break-even rent $2,221

Max offer price $244,763

Occupancy floor 98%

Sensitivity live

Price	-10% $112	-5% $25	+0% $-63	+5% $-151	+10% $-239
Rent	-10% $-232	-5% $-148	+0% $-63	+5% $21	+10% $106
Rate	-1.0pp $65	-0.5pp $1	base $-63	+0.5pp $-129	+1.0pp $-196

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: $63,475
• Closing costs: $7,617
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
855 Bertwood Rd SW Ocean Isle Beach, NC	3.0	2.0	1750	$2,175	$1.24	24d	1	1.13mi
7011 Falmouth Ct SW Ocean Isle Beach, NC	3.0	2.0	1300	$2,107	$1.62	14d	1	1.21mi
5855 Sparkling Water Way Ocean Isle Beach, NC	1.0–3.0	1.0–2.0	1072	$2,150	$2.01	14d	149	1.27mi

Listing history 16 events

1. 2026-06-18
   days on market $253,900 Active 230 DOM
2. 2026-06-18
   price $253,900 Active 229 DOM
3. 2026-06-17
   days on market $295,500 Active 229 DOM
4. 2026-06-16
   pricedays on market $295,500 Active 228 DOM
5. 2026-06-15
   pricedays on market $253,950 Active 227 DOM
6. 2026-06-13
   pricedays on market $239,950 Active 224 DOM
7. 2026-06-10
   days on market $249,950 Active 222 DOM
8. 2026-06-09
   days on market $249,950 Active 221 DOM
9. 2026-06-08
   days on market $249,950 Active 220 DOM
10. 2026-06-07
    days on market $249,950 Active 219 DOM
11. 2026-06-05
    days on market $249,950 Active 216 DOM
12. 2026-06-03
    pricedays on market $249,950 Active 215 DOM
13. 2026-06-02
    days on market $244,950 Active 214 DOM
14. 2026-06-01
    days on market $244,950 Active 213 DOM
15. 2026-05-31
    pricedays on market $244,950 Active 212 DOM
16. 2026-05-30
    days on market $244,450 Active 211 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: $25,694
• − Mortgage interest: −$14,222
• − Property taxes: −$3,808
• − Insurance: −$1,270
• − Repairs & maintenance: −$2,055
• − Management: −$2,055
• − Depreciation: −$7,386
• Taxable loss: −$5,104
• Est. tax savings @ 24.0%: +$1,225
• After-tax cash flow: $467/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 — Ocean Isle Beach

• Score: 62/100
• State rank: #454
• US rank: #16695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,364

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Black 2% Two or more races 1%
• Common ancestry: Romanian 3% Lithuanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3% 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: ▼ -270.51%
• Current HPI: 143.229
• 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