2605 E Boiling Spring Rd · Boiling Spring Lakes, NC 28461

$255,000

3 bd · 2.0 ba · 1,214 sqft · SingleFamily public records · 81 Days on market

Built 2005 0.36 ac lot Est $265k · at est.

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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).

• Cash flow +13.1/30.0
• ARV discount +9.1/15.0
• DSCR +3.9/10.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• 1% rule +2.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is almost new! Explore Coastal Carolina from this captivating home, just minutes to pristine beaches, charming fishing villages and quaint seaside towns. Built with quality, low maintenance materials, this home offers a great retreat for a bargain price. Your first decision as this home's new owner will be how to arrange the rocking chairs on the front porch. Perhaps you should wait until the end of the move to decide how the sun room overlooking the backyard will be used. A sports lair? A hobby room? A home theatre? Whatever your decision, this home is a smart purchase. The home features a large attached garage, a cozy den, and a big, open living area with high ceilings. There is so much to do in the area. The middle and high school are a short 5 minute drive. The seller is offering special financing through the HomePath Mortgage and Renovation Mortgage.

Key facts

• Expansive backyard
• Large open kitchen
• Fully fenced yard

Tags

• LARGE OPEN KITCHEN
• PRIVATE EN-SUITE BATHROOM
• NON-HEATED FLEX SPACE
• EXPANSIVE BACKYARD
• FULLY FENCED YARD
• PRIVATE OUTDOOR SPACE

Property features AI

Exterior

• Parking: Attached front-facing 2-car garage; Total 2 parking spaces; Concrete driveway
• Utilities: Public water (water available and connected); Septic tank sewer; Cable available
• Home design: Single family residence; One-story (entry level 1)
• Construction: Vinyl siding over frame construction; Crawl space foundation; Built with standard shingle roofing
• Exterior features: Enclosed porch and patio; Front porch; Privacy wood fencing in back yard; Shingle roof; Has a view; Accessible kitchen, hallway(s), and full bath

Interior

• Kitchen: Electric oven and electric cooktop; Self-cleaning oven; Refrigerator with ice maker; Dishwasher; Microwave
• Bedrooms: Total rooms: 5
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating and cooling; Electric and hot water heating; Central air; Fireplace heating
• Interior features: Walk-in closets; Vaulted and high ceilings; Ceiling fans; Pantry; Shutters and window coverings; Gas-log fireplace
• Laundry & utility: Washer hookup in hall laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-9 ($-111/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (20.8% below list).
• Recommended offer: $202k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.1% in Boiling Spring Lakes — 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 59/100 on livability (#542 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, amenities 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: Bolivia Elementary (math 50% / reading 43%, grade D-, #542 of 1,410 statewide, top 39%, 496 students, 99% FRL); South Brunswick Middle (math 41% / reading 49%, grade D, #160 of 475 statewide, top 35%, 572 students, 100% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 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: Rents flat; 884 active listings in the ZIP; solid renter incomes; 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 81 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $138k; list at $255k implies a 84% 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; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,889 (20.8% 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 81 days. Have you received any prior offers? Is the seller open to a 21% 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. 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?
6. 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?
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 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: 0.79% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $264,652
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2510 Lumberton Rd	0.15mi	3/2.0	1,278 (+5%)	6mo	$225,000	$176	79
2350 Clinton Rd	0.39mi	3/2.0	1,237 (+2%)	3mo	$270,000	$218	76
2228 E Boiling Spring Rd	0.48mi	3/2.0	1,201 (-1%)	3mo	$240,000	$200	74
2290 E Lake Keziah Dr	0.42mi	3/2.0	1,204 (-1%)	8mo	$325,000	$270	72
2391 Frink Lake Dr	0.32mi	3/2.0	1,265 (+4%)	7mo	$265,000	$209	72
32 S Shelby Rd	0.47mi	3/2.0	1,232 (+2%)	4mo	$255,000	$207	72
40 S Fayetteville Rd	0.50mi	3/2.0	1,254 (+3%)	2mo	$254,900	$203	69
2495 Lumberton Rd	0.18mi	3/2.0	1,364 (+12%)	11mo	$312,850	$229	61
2240 W Lake Keziah Dr	0.57mi	3/2.0	1,316 (+8%)	0mo	$287,000	$218	59
149 Harper Lake Dr	0.39mi	3/2.0	1,341 (+10%)	8mo	$305,000	$227	58
269 N High Point Rd	0.73mi	3/2.0	1,254 (+3%)	5mo	$245,000	$195	56
90 S High Point Rd	0.63mi	3/2.0	1,067 (-12%)	11mo	$270,000	$253	41

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.35×
• Total profit: $-46,469
• Equity at exit: $38,021

10-year hold

• IRR: -16.4%
• Equity multiple: 0.17×
• Total profit: $-59,103
• Equity at exit: $22,048

Cash invested: $71,400 (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 28461

• Rents YoY: 0.7%
• Active inventory: 884
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,019 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$161 /mo · $1,929/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-9

Break-even live

Break-even rent $2,031

Max offer price $253,360

Occupancy floor 95%

Sensitivity live

Price	-10% $135	-5% $63	+0% $-9	+5% $-81	+10% $-154
Rent	-10% $-169	-5% $-89	+0% $-9	+5% $70	+10% $150
Rate	-1.0pp $119	-0.5pp $56	base $-9	+0.5pp $-75	+1.0pp $-143

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-22
   days on market $255,000 Active 81 DOM
2. 2026-06-18
   days on market $255,000 Active 78 DOM
3. 2026-06-17
   days on market $255,000 Active 77 DOM
4. 2026-06-16
   days on market $255,000 Active 76 DOM
5. 2026-06-15
   days on market $255,000 Active 75 DOM
6. 2026-06-14
   days on market $255,000 Active 73 DOM
7. 2026-06-13
   days on market $255,000 Active 72 DOM
8. 2026-06-10
   days on market $255,000 Active 70 DOM
9. 2026-06-09
   days on market $255,000 Active 69 DOM
10. 2026-06-09
    price $255,000 Active 68 DOM
11. 2026-06-08
    days on market $260,000 Active 68 DOM
12. 2026-06-07
    days on market $260,000 Active 67 DOM
13. 2026-06-05
    days on market $260,000 Active 64 DOM
14. 2026-06-03
    days on market $260,000 Active 63 DOM
15. 2026-06-02
    days on market $260,000 Active 62 DOM
16. 2026-06-01
    days on market $260,000 Active 61 DOM
17. 2026-05-31
    days on market $260,000 Active 60 DOM
18. 2026-05-30
    days on market $260,000 Active 59 DOM
19. 2026-05-03
    status Active
20. 2026-04-30
    status Active
21. 2026-04-12
    historical Active Under Contract
22. 2026-04-04
    price $260,000
23. 2026-03-10
    listed $270,000 Active
24. 2026-01-01
    historical
25. 2025-09-22
    price $279,900
26. 2025-07-01
    listed $282,000 Active
27. 2014-09-09
    soldstatus $138,500 877-char remark

    Show marketing remark (877 chars)

    This home is almost new! Explore Coastal Carolina from this captivating home, just minutes to pristine beaches, charming fishing villages and quaint seaside towns. Built with quality, low maintenance materials, this home offers a great retreat for a bargain price. Your first decision as this home's new owner will be how to arrange the rocking chairs on the front porch. Perhaps you should wait until the end of the move to decide how the sun room overlooking the backyard will be used. A sports lair? A hobby room? A home theatre? Whatever your decision, this home is a smart purchase. The home features a large attached garage, a cozy den, and a big, open living area with high ceilings. There is so much to do in the area. The middle and high school are a short 5 minute drive. The seller is offering special financing through the HomePath Mortgage and Renovation Mortgage.

28. 2014-04-05
    listed $129,900 877-char remark

    Show marketing remark (877 chars)

    This home is almost new! Explore Coastal Carolina from this captivating home, just minutes to pristine beaches, charming fishing villages and quaint seaside towns. Built with quality, low maintenance materials, this home offers a great retreat for a bargain price. Your first decision as this home's new owner will be how to arrange the rocking chairs on the front porch. Perhaps you should wait until the end of the move to decide how the sun room overlooking the backyard will be used. A sports lair? A hobby room? A home theatre? Whatever your decision, this home is a smart purchase. The home features a large attached garage, a cozy den, and a big, open living area with high ceilings. There is so much to do in the area. The middle and high school are a short 5 minute drive. The seller is offering special financing through the HomePath Mortgage and Renovation Mortgage.

29. 2009-12-01
    historical
30. 2009-06-26
    listed $204,900
31. 2006-04-03
    soldstatus $175,000
32. 2006-03-31
    soldstatus $175,000
33. 2005-11-17
    listed $175,000
34. 2005-11-11
    historical
35. 2005-09-26
    listed $175,000
36. 2005-07-22
    soldstatus $15,000

ⓘ 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: $1,929 · $161/mo
• Projected year-2 tax: $2,091 · $174/mo
• Expected delta: +$162/yr (+$14/mo · 8.4%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 18 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: $24,227
• − Mortgage interest: −$14,284
• − Property taxes: −$1,929
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − Depreciation: −$7,418
• Taxable loss: −$4,555
• Est. tax savings @ 24.0%: +$1,093
• After-tax cash flow: $982/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 — Boiling Spring Lakes

• Score: 59/100
• State rank: #542
• US rank: #19781

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boiling Spring Lakes, NC
• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 23,762
• Household income: $82,692
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 161.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -195.19%
• Current HPI: 142.5667
• Rent YoY: ▲ 0.74%
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-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

+1633.3% since first listed

18 events — show timeline

• 2026-05-03 Relisted — Hive MLS
• 2026-04-30 Relisted — Hive MLS
• 2026-04-12 Contingent — Hive MLS
• 2026-04-04 Price Changed $260,000 Hive MLS
• 2026-03-10 Listed $270,000 Hive MLS
• 2026-01-01 Listing Removed — Hive MLS
• 2025-09-22 Price Changed $279,900 Hive MLS
• 2025-07-01 Listed $282,000 Hive MLS
• 2014-09-09 Sold (MLS) $138,500 Hive MLS
• 2014-04-05 Listed $129,900 Hive MLS
• 2009-12-01 Listing Removed — Hive MLS
• 2009-06-26 Listed $204,900 Hive MLS
• 2006-04-03 Sold (Public Records) $175,000 Public Records
• 2006-03-31 Sold (MLS) $175,000 Hive MLS
• 2005-11-17 Listed $175,000 Hive MLS
• 2005-11-11 Listing Removed — Hive MLS
• 2005-09-26 Listed $175,000 Hive MLS
• 2005-07-22 Sold (Public Records) $15,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,929 · +13.3% YoY. Source: county tax records.