8 Court 1 Northwest Dr · Carolina Shores, NC 28467

$235,000

2 bd · 2.0 ba · 1,404 sqft · SingleFamily public records · 90 Days on market

Built 1997 8,712 sqft lot Est $295k · 20% under $27/mo HOA · 1% of rent

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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 +14.8/30.0
• DSCR +4.5/10.0
• Schools +3.9/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This spacious, open-concept 3 bed / 2 bath home is the perfect home for you and your family. Enjoy coffee in the lovely sunroom. Don't miss the community pool, tennis, and pickleball courts. Less than five minutes from world famous Calabash seafood and less than 15 minutes to three different beaches. Grocery shopping is across the street, this is a super convenient location for home away from home or move to home at the beach!

Key facts

• Pickleball courts
• Community pool
• Tennis courts

Tags

• SUNROOM
• COMMUNITY POOL
• TENNIS COURTS
• PICKLEBALL COURTS
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Zoning: CS-R6
• HOA & community: Homeowners association with annual fee of $325 (about $27.08/month); Community pool; Tennis courts / sport court

Exterior

• Parking: 2 total parking spaces; 2-car attached garage; Garage faces front; Garage door opener; Paved driveway
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single family residence; One story; Residential property
• Construction: Vinyl siding; Slab foundation; Built with standard construction materials
• Exterior features: Porch; Shingle roof; Has a view; Fencing: None; Road frontage on city street and state road

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 3 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Electric heating; Has cooling
• Interior features: Eat-in kitchen; Total of 6 rooms
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $63 ($750/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (17.8% below list).
• Recommended offer: $193k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.9% in Carolina Shores — 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 64/100 on livability (#352 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B+; 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: 691 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 31% 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 $2k of loan paydown is wiped out by about $7k 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 90 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,092 (17.8% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 18% 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. 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: 0.82% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.14%
• DSCR: 1.05
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $294,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Sage Ct	0.35mi	3/2.0 (+1)	1,545 (+10%)	3mo	$385,000	$249	60
513 Crooked Pine Pl SW	0.63mi	2/2.0	1,316 (-6%)	1mo	$226,000	$172	59
15 Court 11 Northwest Dr	0.63mi	3/2.0 (+1)	1,430 (+2%)	6mo	$285,000	$199	58
98 Northeast Dr NW	0.23mi	3/2.0 (+1)	1,583 (+13%)	7mo	$359,900	$227	57
11 Court 11 Northwest Dr NW	0.63mi	3/2.0 (+1)	1,450 (+3%)	6mo	$291,938	$201	55
25 Gate 6	0.67mi	3/2.0 (+1)	1,356 (-3%)	8mo	$285,000	$210	52
62 Northeast Dr NW	0.39mi	3/2.0 (+1)	1,570 (+12%)	8mo	$347,000	$221	50
441 Maplewood Dr NW	0.62mi	3/2.0 (+1)	1,270 (-10%)	2mo	$279,000	$220	49
434 Deer Path	0.67mi	3/2.0 (+1)	1,525 (+9%)	8mo	$180,000	$118	43
396 Deer Path	0.72mi	3/2.0 (+1)	1,520 (+8%)	8mo	$240,000	$158	41
193 Woodyard Dr NW	0.64mi	3/2.0 (+1)	1,583 (+13%)	5mo	$359,900	$227	39
463 Saltaire Dr SW	0.66mi	3/2.0 (+1)	1,587 (+13%)	8mo	$277,500	$175	36

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-34,168
• Equity at exit: $35,039

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-24,909
• Equity at exit: $20,319

Cash invested: $65,800 (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 28467

• Home prices YoY: -33.7%
• Active inventory: 691
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,931 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$106 /mo · $1,267/yr
• Insurance: −$98
• HOA: −$27
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $63

Break-even live

Break-even rent $1,852

Max offer price $235,000

Occupancy floor 92%

Sensitivity live

Price	-10% $196	-5% $129	+0% $63	+5% $-4	+10% $-71
Rent	-10% $-90	-5% $-14	+0% $63	+5% $139	+10% $215
Rate	-1.0pp $181	-0.5pp $122	base $63	+0.5pp $2	+1.0pp $-60

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1035 Brightwater Way Calabash, NC	1.0–3.0	1.0–2.5	1327	$1,862	$1.40	24d	1	0.80mi
2033 Wild Indigo CIR NW Calabash, NC	3.0	3.0	1457	$1,775	$1.22	24d	1	0.85mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,008	$1.42	22d	51	1.10mi
3021 Siskin Dr NW Calabash, NC	2.0–3.0	2.0–2.5	1557	$1,825	$1.17	15d	46	1.10mi
1063 Harbor Dr Calabash, NC	3.0	2.0	1421	$2,200	$1.55	22d	1	1.20mi
660 Aubrey Ln Calabash, NC	1.0–2.0	1.0–2.0	1081	$2,870	$2.65	15d	69	1.29mi
891 Mh Marina Rd #3 Carolina Shores, NC	2.0	2.0	1250	$1,300	$1.04	15d	1	1.34mi
834 Greenwood Ct Calabash, NC	3.0	2.0	1475	$2,100	$1.42	15d	1	1.38mi
1204 Calabash Station Blvd NW Ocean Isle Beach, NC	3.0	2.0	1811	$2,200	$1.21	24d	1	1.39mi
70 Callaway Dr NW OCEAN ISL BCH, NC	2.0–3.0	2.0	1324	$1,400	$1.06	15d	35	1.49mi

HOA detail

• Monthly dues: $27 · $324/yr
• Likely covers: pool

Listing history 26 events

1. 2026-06-18
   days on market $235,000 Active 90 DOM
2. 2026-06-17
   days on market $235,000 Active 89 DOM
3. 2026-06-16
   days on market $235,000 Active 88 DOM
4. 2026-06-15
   days on market $235,000 Active 87 DOM
5. 2026-06-14
   days on market $235,000 Active 85 DOM
6. 2026-06-13
   days on market $235,000 Active 84 DOM
7. 2026-06-10
   days on market $235,000 Active 82 DOM
8. 2026-06-09
   days on market $235,000 Active 81 DOM
9. 2026-06-08
   days on market $235,000 Active 80 DOM
10. 2026-06-07
    days on market $235,000 Active 79 DOM
11. 2026-06-05
    days on market $235,000 Active 76 DOM
12. 2026-06-03
    days on market $235,000 Active 75 DOM
13. 2026-06-02
    days on market $235,000 Active 74 DOM
14. 2026-06-01
    days on market $235,000 Active 73 DOM
15. 2026-05-31
    days on market $235,000 Active 72 DOM
16. 2026-05-30
    days on market $235,000 Active 71 DOM
17. 2026-05-20
    price $235,000
18. 2026-03-19
    listed $250,000 Active
19. 2025-12-10
    historical
20. 2025-07-23
    listed $279,000 Active
21. 2021-01-19
    historical
22. 2021-01-14
    listed $174,999
23. 2014-12-10
    historical
24. 2013-03-15
    listed $139,000
25. 2011-02-08
    historical
26. 2010-09-24
    listed $159,900

ⓘ 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: $1,267 · $106/mo
• Projected year-2 tax: $1,927 · $161/mo
• Expected delta: +$660/yr (+$55/mo · 52.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $23,171
• − Mortgage interest: −$13,164
• − Property taxes: −$1,267
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,854
• − Management: −$1,854
• − HOA: −$324
• − Depreciation: −$6,836
• Taxable loss: −$3,303
• Est. tax savings @ 24.0%: +$793
• After-tax cash flow: $1,543/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 — Carolina Shores

• Score: 64/100
• State rank: #352
• US rank: #13907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carolina Shores, NC
• County: Brunswick County · 131,536 people
• City population: 13,313
• 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: 81.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -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

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

+47.0% since first listed

10 events — show timeline

• 2026-05-20 Price Changed $235,000 Hive MLS
• 2026-03-19 Listed $250,000 Hive MLS
• 2025-12-10 Listing Removed — Hive MLS
• 2025-07-23 Listed $279,000 Hive MLS
• 2021-01-19 Listing Removed — Hive MLS
• 2021-01-14 Listed $174,999 Hive MLS
• 2014-12-10 Listing Removed — Hive MLS
• 2013-03-15 Listed $139,000 Hive MLS
• 2011-02-08 Listing Removed — Hive MLS
• 2010-09-24 Listed $159,900 Hive MLS

Property tax history

+3.7%/yr

Latest (2025): $1,267 · +0.0% YoY. Source: county tax records.