5100 Masonboro Loop Rd · Myrtle Grove, NC 28409

$295,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 57 Days on market

Built 1984 0.36 ac lot Est $382k · 23% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.2/30.0
• Rent growth +4.3/5.0
• Schools +4.3/10.0
• DSCR +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity in the heart of Masonboro Loop area. This 3 bedroom, 2 bath home sits on a desirable corner lot in one of Wilmington's most sought after areas, all for UNDER $300,000. The property offers solid bones and has already had much of the heavy lifting completed, with the home cleared out and the backyard cleaned up, making it ready for your vision. Ideal for investors or buyers looking to build equity, this home needs cosmetic updates and general TLC. Being sold as is, this is a great chance to customize and add value in a prime location close to beaches, shopping, and dining.

Key facts

• Backyard cleaned up
• Corner lot
• 0.36 acre lot

Tags

• CORNER LOT
• BACKYARD CLEANED UP
• PRIME LOCATION CLOSE TO DINING

Property features AI

Exterior

• Parking: Off-street paved parking
• Utilities: Public water connected; Public sewer connected
• Home design: Single-family residence; Two stories; Entry level: 1; Residential property
• Construction: Wood siding/frame construction; Shingle roof; Slab foundation; Built as a two-story structure
• Exterior features: Patio; Wood fence around backyard; Corner lot; View

Interior

• Kitchen: Refrigerator; Dishwasher; Electric range
• Bedrooms: Primary bedroom located downstairs
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Electric heating; Fireplace(s)
• Interior features: Primary bedroom on the main level; 7 total rooms
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $-60 ($-721/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (27.9% below list).
• Recommended offer: $213k (27.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.5% in Myrtle Grove — 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 69/100 on livability (#147 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• New Hanover County Schools (urban): math 48% / reading 53% proficiency, ranked #61 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Heyward C Bellamy Elem (math 65% / reading 65%, grade B+, #145 of 1,410 statewide, top 10%, 556 students, 38% FRL); Myrtle Grove Middle (math 40% / reading 49%, grade D, #169 of 475 statewide, top 37%, 645 students, 56% FRL); Eugene Ashley High (math 48% / reading 68%, grade C, #243 of 535 statewide, top 46%, 1,975 students, 34% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: Rents rising fast (+7.1%/yr); 241 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,581 units permitted in New Hanover County in 2024 (1,185 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 $9k of value loss. Plan a longer hold.
• New Hanover County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $212,771 (27.9% 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 57 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.72% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $382,320
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Hidden Valley Rd	0.39mi	3/2.0	1,314 (+1%)	2mo	$325,000	$247	78
141 Southwold Dr	0.40mi	3/1.5	1,245 (-4%)	2mo	$335,000	$269	71
5132 Long Pointe Rd	0.49mi	3/2.0	1,278 (-1%)	13mo	$385,000	$301	64
5324 Masonboro Loop Rd	0.26mi	2/1.0 (-1)	1,160 (-10%)	3mo	$350,000	$302	59
218 Southwold Dr	0.39mi	3/1.5	1,148 (-11%)	4mo	$339,000	$295	57
322 Hidden Valley Rd	0.39mi	3/2.0	1,383 (+7%)	23mo	$362,500	$262	51
102 Mohican Trl	0.72mi	3/1.5	1,174 (-9%)	17mo	$374,000	$319	34

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 · 7.09% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.48×
• Total profit: $-42,664
• Equity at exit: $43,985

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,989
• Equity at exit: $25,506

Cash invested: $82,600 (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 28409

• Rents YoY: 7.1%
• Active inventory: 241
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,128 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$71 /mo · $853/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $-60

Break-even live

Break-even rent $2,204

Max offer price $284,386

Occupancy floor 98%

Sensitivity live

Price	-10% $107	-5% $23	+0% $-60	+5% $-144	+10% $-227
Rent	-10% $-228	-5% $-144	+0% $-60	+5% $24	+10% $108
Rate	-1.0pp $88	-0.5pp $15	base $-60	+0.5pp $-137	+1.0pp $-214

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Apache Trl Wilmington, NC	3.0	2.5	1340	$2,200	$1.64	15d	1	1.14mi
1068 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,749	$1.16	23d	1	1.24mi
1064 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,749	$1.16	23d	1	1.25mi
1060 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,899	$1.26	15d	1	1.25mi
1056 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,999	$1.32	23d	1	1.25mi
1076 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,949	$1.29	15d	1	1.26mi
1112 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,949	$1.29	15d	1	1.27mi
1116 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,949	$1.29	15d	1	1.28mi
1120 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,899	$1.26	15d	1	1.29mi
1124 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,899	$1.26	15d	1	1.29mi
1128 Wildflower Dr Wilmington, NC	3.0	2.5	1511	$1,899	$1.26	15d	1	1.29mi
4613 Prior Dr Wilmington, NC	2.0–3.0	1.5–2.0	1215	$2,041	$1.68	15d	5	1.32mi
4632 Still Meadow Dr Wilmington, NC	2.0–3.0	2.0	1142	$1,800	$1.58	23d	14	1.36mi
4623 Andros Ln Wilmington, NC	3.0	3.0	1456	$1,900	$1.30	23d	1	1.38mi
1508 Honey Bee Ln Wilmington, NC	2.0	2.0	1212	$1,900	$1.57	23d	1	1.42mi

Listing history 19 events

1. 2026-06-18
   status $295,000 Pending 57 DOM
2. 2026-06-18
   days on market $295,000 Active 57 DOM
3. 2026-06-17
   days on market $295,000 Active 56 DOM
4. 2026-06-16
   days on market $295,000 Active 55 DOM
5. 2026-06-15
   days on market $295,000 Active 54 DOM
6. 2026-06-14
   days on market $295,000 Active 52 DOM
7. 2026-06-13
   days on market $295,000 Active 51 DOM
8. 2026-06-10
   days on market $295,000 Active 49 DOM
9. 2026-06-09
   days on market $295,000 Active 48 DOM
10. 2026-06-08
    days on market $295,000 Active 47 DOM
11. 2026-06-07
    days on market $295,000 Active 46 DOM
12. 2026-06-05
    days on market $295,000 Active 43 DOM
13. 2026-06-03
    days on market $295,000 Active 42 DOM
14. 2026-06-03
    days on market $295,000 Active 41 DOM
15. 2026-05-31
    days on market $295,000 Active 39 DOM
16. 2026-05-30
    days on market $295,000 Active 38 DOM
17. 2026-04-22
    listed $295,000 Active
18. 2026-03-19
    soldstatus $400,000
19. 1984-08-01
    soldstatus $51,500

ⓘ 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: $853 · $71/mo
• Projected year-2 tax: $2,419 · $202/mo
• Expected delta: +$1,566/yr (+$131/mo · 183.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,533
• − Mortgage interest: −$16,525
• − Property taxes: −$853
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,043
• − Management: −$2,043
• − Depreciation: −$8,582
• Taxable loss: −$5,987
• Est. tax savings @ 24.0%: +$1,437
• After-tax cash flow: $716/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: New Hanover County Schools
• NCES district ID: 3703330
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $49,406
• Composite: 43.13/100
• National rank: #3081
• State rank: #61 of 178 in NC

Livability — Myrtle Grove

• Score: 69/100
• State rank: #147
• US rank: #8212

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Myrtle Grove, NC
• County: New Hanover County · 232,153 people
• Metro: Wilmington, NC
• Population (ZIP): 36,163
• Household income: $111,048
• Rent vs Own: 15.6% rent · 84.4% own
• Severe rent burden: 452.0

Population outlook (New Hanover County) Hauer SSP2

• Today (2025): 259,517 people
• By 2030: 279,586 · +7.7%
• By 2040: 318,223 · +22.6%
• By 2050: 354,831 · +36.7%
• By 2075: 437,158 · +68.5%
• By 2100: 486,769 · +87.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 5% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · New Hanover

• 2024 margin: Toss-up / Even · D 49.8% · R 49.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: -1.4pp · 2024: 0.6pp
• All cycles: 2024: D+0.6 2020: D+2.1 2016: R+4.1 2012: R+4.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -378.14%
• Current HPI: 246.8527
• Rent YoY: ▲ 7.09%
• Metro: Wilmington, 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

+472.8% since first listed

3 events — show timeline

• 2026-04-22 Listed $295,000 Hive MLS
• 2026-03-19 Sold (Public Records) $400,000 Public Records
• 1984-08-01 Sold (Public Records) $51,500 Public Records

Property tax history

+0.2%/yr

Latest (2025): $853 · -25.1% YoY. Source: county tax records.