9262 Katharine Ct SW · Calabash, NC 28467

$254,000

3 bd · 2.0 ba · 1,475 sqft · Land · 162 Days on market

Built 2025 9,583 sqft lot

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Why this score? — see what drove the F 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 +8.9/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• 1% rule +2.7/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NO HOA, NO CITY TAXES. Land forgotten in time. The street isn't even detectable. There are 2 lots on Heritage Dr. that are owned by the same owner. All three lots are on the market separately. This lot is directly behind the 2 lots on Heritage Dr. It's been verified with the County Engineer that there is a water line under the road, but as stated the road isn't detectable. Trees have grown up over the past 30 years, covering the road. Less than 5 miles to the beach. Between the lot and the beach you'll pass by the Aligator Viewing platform, Town Park and NC State operated boat landing into the ICWW. The bridge to Calabash is currently under construction. It spans the Calabash River. Expected to be completed Fall of 2024. Calabash is renowned for it's Sea Food. There are several Dock to Table restaurants on the River. Or you can purchase your Shrimp fresh at the River's edge to take home and cook it the way you like. This is also a ''safe Harbour'' for the shrimp boats during the storms. Deep Sea tours and fishing trips are offered at the dock. Callahan's of Calabash nautical gifts has been a must see family tradition for over 40 years. Offering unique and local inspired treasures from the sea. There are many family operated businesses and services throughout the Down town area of Calabash. It's a very friendly small town with the seaside Southern charm that is authentic. If golf is your pleasure you'll find 12 Public courses within a 6 mile drive. Or if Pickleball is what you're looking for there are several local courts within a 5 minute drive. Just a 5 mile drive to the South Carolina State line. 25 minutes to Myrtle Beach. 1 hour drive to the MB Airport. And 1 hour drive to Wilmington Airport. Lots of shopping, entertainment, restaurants and medical in both directions.

Key facts

• Short drive to beach
• Serene cul-de-sac
• 9,583 sq ft lot

Tags

• PRIVATE CONCRETE DRIVEWAY
• SERENE CUL-DE-SAC
• SHORT DRIVE TO BEACH

Property features AI

Exterior

• Parking: Off-street parking on concrete; No garage
• Utilities: Water connected
• Home design: Manufactured home; Single-story
• Construction: Vinyl siding and frame construction; Brick/mortar permanent foundation; Built on one level
• Exterior features: Shingle roof; No patio or porch; No fencing; Property has a view; Private, unimproved road access

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Walk-in closet(s); Kitchen island

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (22.7% below list).
• Recommended offer: $196k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 4.1% in Calabash — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 61/100 on livability (#487 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime 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.
• 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $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 162 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $61k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $254k implies a 626% 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; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,260 (22.7% 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 162 days. Have you received any prior offers? Is the seller open to a 23% 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: 0.77% ✗
• Cap rate: 5.32%
• Cash-on-cash: -3.46%
• DSCR: 0.85
• GRM: 10.8

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: -22.1%
• Equity multiple: 0.24×
• Total profit: $-54,178
• Equity at exit: $37,872

10-year hold

• IRR: -16.0%
• Equity multiple: 0.10×
• Total profit: $-63,860
• Equity at exit: $21,961

Cash invested: $71,120 (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: 10.8×

Monthly cashflow live

• Estimated rent: $1,963 high
• Mortgage (P&I): −$1,332
• Tax est. 1.5%: −$318 /mo · $3,810/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-205

Break-even live

Break-even rent $2,222

Max offer price $224,353

Occupancy floor —

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: $63,500
• Closing costs: $7,620
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
908 Resort Cir Unit 1 Sunset Beach, NC	3.0	2.0	1301	$1,500	$1.15	14d	1	0.83mi
1086 Mille Ave Calabash, NC	3.0	2.0	1232	$2,000	$1.62	23d	1	1.05mi
1420 Sherman Dr Calabash, NC	2.0–3.0	1.0–2.0	1011	$770	$0.76	14d	3	1.40mi
891 Mh Marina Rd #3 Carolina Shores, NC	2.0	2.0	1250	$1,300	$1.04	14d	1	1.44mi
660 Aubrey Ln Calabash, NC	1.0–2.0	1.0–2.0	1081	$2,870	$2.65	14d	69	1.44mi
834 Greenwood Ct Calabash, NC	3.0	2.0	1475	$2,100	$1.42	14d	1	1.47mi

Listing history 32 events

1. 2026-06-18
   days on market $254,000 Active 162 DOM
2. 2026-06-17
   days on market $254,000 Active 161 DOM
3. 2026-06-16
   days on market $254,000 Active 160 DOM
4. 2026-06-15
   days on market $254,000 Active 159 DOM
5. 2026-06-14
   days on market $254,000 Active 157 DOM
6. 2026-06-13
   days on market $254,000 Active 156 DOM
7. 2026-06-10
   days on market $254,000 Active 154 DOM
8. 2026-06-09
   days on market $254,000 Active 153 DOM
9. 2026-06-08
   days on market $254,000 Active 152 DOM
10. 2026-06-07
    days on market $254,000 Active 151 DOM
11. 2026-06-05
    days on market $254,000 Active 148 DOM
12. 2026-06-03
    days on market $254,000 Active 147 DOM
13. 2026-06-03
    price $254,000 Active 146 DOM
14. 2026-06-02
    days on market $274,000 Active 146 DOM
15. 2026-06-01
    days on market $274,000 Active 145 DOM
16. 2026-05-31
    days on market $274,000 Active 144 DOM
17. 2026-05-30
    days on market $274,000 Active 143 DOM
18. 2026-05-22
    price $274,000
19. 2026-03-28
    price $279,000
20. 2026-02-16
    price $300,000
21. 2026-01-07
    listed $315,000 Active
22. 2025-12-05
    historical
23. 2025-10-12
    price $315,000
24. 2025-09-14
    price $320,000
25. 2025-08-29
    status Active
26. 2025-07-14
    status Active
27. 2025-05-21
    listed $325,000 Active
28. 2025-04-22
    historical
29. 2024-07-18
    soldstatus $35,000 Closed 1803-char remark

    Show marketing remark (1803 chars)

    NO HOA, NO CITY TAXES. Land forgotten in time. The street isn't even detectable. There are 2 lots on Heritage Dr. that are owned by the same owner. All three lots are on the market separately. This lot is directly behind the 2 lots on Heritage Dr. It's been verified with the County Engineer that there is a water line under the road, but as stated the road isn't detectable. Trees have grown up over the past 30 years, covering the road. Less than 5 miles to the beach. Between the lot and the beach you'll pass by the Aligator Viewing platform, Town Park and NC State operated boat landing into the ICWW. The bridge to Calabash is currently under construction. It spans the Calabash River. Expected to be completed Fall of 2024. Calabash is renowned for it's Sea Food. There are several Dock to Table restaurants on the River. Or you can purchase your Shrimp fresh at the River's edge to take home and cook it the way you like. This is also a ''safe Harbour'' for the shrimp boats during the storms. Deep Sea tours and fishing trips are offered at the dock. Callahan's of Calabash nautical gifts has been a must see family tradition for over 40 years. Offering unique and local inspired treasures from the sea. There are many family operated businesses and services throughout the Down town area of Calabash. It's a very friendly small town with the seaside Southern charm that is authentic. If golf is your pleasure you'll find 12 Public courses within a 6 mile drive. Or if Pickleball is what you're looking for there are several local courts within a 5 minute drive. Just a 5 mile drive to the South Carolina State line. 25 minutes to Myrtle Beach. 1 hour drive to the MB Airport. And 1 hour drive to Wilmington Airport. Lots of shopping, entertainment, restaurants and medical in both directions.

30. 2024-07-13
    status Pending 1803-char remark

    Show marketing remark (1803 chars)

    NO HOA, NO CITY TAXES. Land forgotten in time. The street isn't even detectable. There are 2 lots on Heritage Dr. that are owned by the same owner. All three lots are on the market separately. This lot is directly behind the 2 lots on Heritage Dr. It's been verified with the County Engineer that there is a water line under the road, but as stated the road isn't detectable. Trees have grown up over the past 30 years, covering the road. Less than 5 miles to the beach. Between the lot and the beach you'll pass by the Aligator Viewing platform, Town Park and NC State operated boat landing into the ICWW. The bridge to Calabash is currently under construction. It spans the Calabash River. Expected to be completed Fall of 2024. Calabash is renowned for it's Sea Food. There are several Dock to Table restaurants on the River. Or you can purchase your Shrimp fresh at the River's edge to take home and cook it the way you like. This is also a ''safe Harbour'' for the shrimp boats during the storms. Deep Sea tours and fishing trips are offered at the dock. Callahan's of Calabash nautical gifts has been a must see family tradition for over 40 years. Offering unique and local inspired treasures from the sea. There are many family operated businesses and services throughout the Down town area of Calabash. It's a very friendly small town with the seaside Southern charm that is authentic. If golf is your pleasure you'll find 12 Public courses within a 6 mile drive. Or if Pickleball is what you're looking for there are several local courts within a 5 minute drive. Just a 5 mile drive to the South Carolina State line. 25 minutes to Myrtle Beach. 1 hour drive to the MB Airport. And 1 hour drive to Wilmington Airport. Lots of shopping, entertainment, restaurants and medical in both directions.

31. 2024-06-05
    status Pending 1803-char remark

    Show marketing remark (1803 chars)

    NO HOA, NO CITY TAXES. Land forgotten in time. The street isn't even detectable. There are 2 lots on Heritage Dr. that are owned by the same owner. All three lots are on the market separately. This lot is directly behind the 2 lots on Heritage Dr. It's been verified with the County Engineer that there is a water line under the road, but as stated the road isn't detectable. Trees have grown up over the past 30 years, covering the road. Less than 5 miles to the beach. Between the lot and the beach you'll pass by the Aligator Viewing platform, Town Park and NC State operated boat landing into the ICWW. The bridge to Calabash is currently under construction. It spans the Calabash River. Expected to be completed Fall of 2024. Calabash is renowned for it's Sea Food. There are several Dock to Table restaurants on the River. Or you can purchase your Shrimp fresh at the River's edge to take home and cook it the way you like. This is also a ''safe Harbour'' for the shrimp boats during the storms. Deep Sea tours and fishing trips are offered at the dock. Callahan's of Calabash nautical gifts has been a must see family tradition for over 40 years. Offering unique and local inspired treasures from the sea. There are many family operated businesses and services throughout the Down town area of Calabash. It's a very friendly small town with the seaside Southern charm that is authentic. If golf is your pleasure you'll find 12 Public courses within a 6 mile drive. Or if Pickleball is what you're looking for there are several local courts within a 5 minute drive. Just a 5 mile drive to the South Carolina State line. 25 minutes to Myrtle Beach. 1 hour drive to the MB Airport. And 1 hour drive to Wilmington Airport. Lots of shopping, entertainment, restaurants and medical in both directions.

32. 2024-04-19
    listed $45,000 Active 1803-char remark

    Show marketing remark (1803 chars)

    NO HOA, NO CITY TAXES. Land forgotten in time. The street isn't even detectable. There are 2 lots on Heritage Dr. that are owned by the same owner. All three lots are on the market separately. This lot is directly behind the 2 lots on Heritage Dr. It's been verified with the County Engineer that there is a water line under the road, but as stated the road isn't detectable. Trees have grown up over the past 30 years, covering the road. Less than 5 miles to the beach. Between the lot and the beach you'll pass by the Aligator Viewing platform, Town Park and NC State operated boat landing into the ICWW. The bridge to Calabash is currently under construction. It spans the Calabash River. Expected to be completed Fall of 2024. Calabash is renowned for it's Sea Food. There are several Dock to Table restaurants on the River. Or you can purchase your Shrimp fresh at the River's edge to take home and cook it the way you like. This is also a ''safe Harbour'' for the shrimp boats during the storms. Deep Sea tours and fishing trips are offered at the dock. Callahan's of Calabash nautical gifts has been a must see family tradition for over 40 years. Offering unique and local inspired treasures from the sea. There are many family operated businesses and services throughout the Down town area of Calabash. It's a very friendly small town with the seaside Southern charm that is authentic. If golf is your pleasure you'll find 12 Public courses within a 6 mile drive. Or if Pickleball is what you're looking for there are several local courts within a 5 minute drive. Just a 5 mile drive to the South Carolina State line. 25 minutes to Myrtle Beach. 1 hour drive to the MB Airport. And 1 hour drive to Wilmington Airport. Lots of shopping, entertainment, restaurants and medical in both directions.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 17 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: $23,551
• − Mortgage interest: −$14,228
• − Property taxes: −$3,810
• − Insurance: −$1,270
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − Depreciation: −$7,389
• Taxable loss: −$6,914
• Est. tax savings @ 24.0%: +$1,659
• After-tax cash flow: $-799/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 — Calabash

• Score: 61/100
• State rank: #487
• US rank: #17866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• 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

+508.9% since first listed

15 events — show timeline

• 2026-05-22 Price Changed $274,000 Hive MLS
• 2026-03-28 Price Changed $279,000 Hive MLS
• 2026-02-16 Price Changed $300,000 Hive MLS
• 2026-01-07 Listed $315,000 Hive MLS
• 2025-12-05 Listing Removed — Hive MLS
• 2025-10-12 Price Changed $315,000 Hive MLS
• 2025-09-14 Price Changed $320,000 Hive MLS
• 2025-08-29 Relisted — Hive MLS
• 2025-07-14 Relisted — Hive MLS
• 2025-05-21 Listed $325,000 Hive MLS
• 2025-04-22 Coming Soon — Hive MLS
• 2024-07-18 Sold (MLS) $35,000 Hive MLS
• 2024-07-13 Pending — Hive MLS
• 2024-06-05 Pending — Hive MLS
• 2024-04-19 Listed $45,000 Hive MLS