361 S Stingray Ln · Sneads Ferry, NC 28460

$270,000

3 bd · 2.5 ba · 1,348 sqft · Townhouse public records · 44 Days on market

Built 2021 1,307 sqft lot Est $279k · at est. $40/mo HOA · 2% 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).

• Cash flow +11.8/30.0
• ARV discount +9.0/15.0
• Rent growth +3.9/5.0
• Schools +3.9/10.0
• DSCR +3.5/10.0
• Livability +3.2/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Best Value, Best Location! Featuring an open concept floor plan covered in upgraded features to maximize functionality and a comfortable living environment. In the kitchen, living room, and dining room you will find LVP flooring complemented by 5.25in base trim, the kitchen also features soft close cabinetry and stainless steel appliances. Step outside to enjoy the beautiful NC weather on your covered porch, and enjoy the security of parking your car in the finished one car garage. The aesthetically pleasing exterior of the home is sure to catch your eye complemented by stone accents and limited lifetime architectural shingles. You're sure to love this home and its features, inside and out! BETTER HURRY, THEY SELL FAST! Selections have been made, see photos for cabinet, flooring and countertops.

Key facts

• Covered porch
• Stone accents
• Walk in closet

Tags

• OPEN CONCEPT FLOOR PLAN
• COVERED PORCH
• WALK IN CLOSET
• PRIVATE ENSUITE BATHROOM
• STONE ACCENTS
• ARCHITECTURAL SHINGLES

Property features AI

Finance

• Other: Zoning: R
• HOA & community: Homeowners association with an annual fee of $480 (about $40/month)

Exterior

• Parking: Attached garage (1 car); On-site paved parking (1 total parking space)
• Utilities: Water available
• Home design: Townhouse residential property; Two stories; Entry level is 1st floor
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built as a two-level structure
• Exterior features: Covered patio; Patio; Paved road access; Has a view; No fencing

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Walk-in closets; Ceiling fans
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $-74 ($-890/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (24.7% below list).
• Recommended offer: $203k (24.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.0% in Sneads Ferry — 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 63/100 on livability (#398 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety D, amenities F, commute F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dixon Elementary (math 63% / reading 66%, grade B, #147 of 1,410 statewide, top 11%, 736 students, 30% FRL); Dixon Middle (math 49% / reading 53%, grade C, #106 of 475 statewide, top 22%, 948 students, 39% FRL); Dixon High (math 62% / reading 72%, grade B, #142 of 535 statewide, top 28%, 1,149 students, 33% FRL) — zoned schools at 34% FRL track the district average.
• Zoned-school proficiency averages 61% at this address vs 46% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Onslow County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.7%/yr); 560 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,246 units permitted in Onslow County in 2024 (0 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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $204k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,428 (24.7% 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 44 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.75% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $279,036
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 Sandpiper Pl	0.06mi	3/2.5	1,355 (+0%)	2mo	$279,900	$207	95
211 Sandpiper Pl	0.07mi	3/2.5	1,355 (+0%)	2mo	$279,900	$207	94
222 Sandpiper Pl	0.05mi	3/2.5	1,355 (+0%)	4mo	$279,900	$207	94
216 Sandpiper Pl	0.04mi	3/2.5	1,355 (+0%)	4mo	$279,900	$207	94
329 S Stingray Ln	0.07mi	3/2.5	1,340 (-1%)	5mo	$266,000	$199	91
207 Sandpiper Pl	0.08mi	3/2.5	1,355 (+0%)	6mo	$279,900	$207	90
218 Sandpiper Pl	0.16mi	3/2.5	1,355 (+0%)	4mo	$279,900	$207	88
420 Guppy Loop Rd	0.05mi	3/2.5	1,375 (+2%)	10mo	$273,000	$199	86
504 Stone Crab Ln	0.11mi	3/2.5	1,375 (+2%)	9mo	$275,000	$200	84
210 N Stingray Ln	0.14mi	3/2.5	1,348 (0%)	12mo	$272,000	$202	84
513 Stone Crab Ln	0.08mi	3/2.5	1,350 (+0%)	19mo	$265,000	$196	80
301 S Stingray Ln	0.11mi	3/2.5	1,375 (+2%)	18mo	$271,000	$197	76

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 · 5.68% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.43×
• Total profit: $-42,928
• Equity at exit: $40,258

10-year hold

• IRR: -3.5%
• Equity multiple: 0.74×
• Total profit: $-19,385
• Equity at exit: $23,345

Cash invested: $75,600 (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 28460

• Rents YoY: 5.7%
• Active inventory: 560
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,034 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$113 /mo · $1,355/yr
• Insurance: −$112
• HOA: −$40
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-74

Break-even live

Break-even rent $2,128

Max offer price $256,891

Occupancy floor 99%

Sensitivity live

Price	-10% $79	-5% $2	+0% $-74	+5% $-151	+10% $-227
Rent	-10% $-235	-5% $-155	+0% $-74	+5% $6	+10% $87
Rate	-1.0pp $62	-0.5pp $-6	base $-74	+0.5pp $-144	+1.0pp $-215

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2134 N Carolina 172 Unit 172 Sneads Ferry, NC	3.0	2.0	1335	$1,500	$1.12	22d	1	1.49mi

HOA detail

• Monthly dues: $40 · $480/yr
• Likely covers: security

Listing history 19 events

1. 2026-06-19
   days on market $270,000 Active 44 DOM
2. 2026-06-18
   days on market $270,000 Active 43 DOM
3. 2026-06-17
   days on market $270,000 Active 42 DOM
4. 2026-06-16
   days on market $270,000 Active 41 DOM
5. 2026-06-15
   days on market $270,000 Active 40 DOM
6. 2026-06-14
   days on market $270,000 Active 38 DOM
7. 2026-06-13
   days on market $270,000 Active 37 DOM
8. 2026-06-10
   days on market $270,000 Active 35 DOM
9. 2026-06-09
   days on market $270,000 Active 34 DOM
10. 2026-06-09
    days on market $270,000 Active 33 DOM
11. 2026-06-07
    days on market $270,000 Active 32 DOM
12. 2026-06-03
    days on market $270,000 Active 28 DOM
13. 2026-06-02
    days on market $270,000 Active 27 DOM
14. 2026-06-01
    days on market $270,000 Active 26 DOM
15. 2026-05-31
    days on market $270,000 Active 25 DOM
16. 2026-05-30
    days on market $270,000 Active 24 DOM
17. 2026-05-06
    listed $270,000 Active
18. 2021-08-11
    soldstatus $204,400 808-char remark

    Show marketing remark (808 chars)

    Best Value, Best Location! Featuring an open concept floor plan covered in upgraded features to maximize functionality and a comfortable living environment. In the kitchen, living room, and dining room you will find LVP flooring complemented by 5.25in base trim, the kitchen also features soft close cabinetry and stainless steel appliances. Step outside to enjoy the beautiful NC weather on your covered porch, and enjoy the security of parking your car in the finished one car garage. The aesthetically pleasing exterior of the home is sure to catch your eye complemented by stone accents and limited lifetime architectural shingles. You're sure to love this home and its features, inside and out! BETTER HURRY, THEY SELL FAST! Selections have been made, see photos for cabinet, flooring and countertops.

19. 2021-05-22
    listed $202,400 808-char remark

    Show marketing remark (808 chars)

    Best Value, Best Location! Featuring an open concept floor plan covered in upgraded features to maximize functionality and a comfortable living environment. In the kitchen, living room, and dining room you will find LVP flooring complemented by 5.25in base trim, the kitchen also features soft close cabinetry and stainless steel appliances. Step outside to enjoy the beautiful NC weather on your covered porch, and enjoy the security of parking your car in the finished one car garage. The aesthetically pleasing exterior of the home is sure to catch your eye complemented by stone accents and limited lifetime architectural shingles. You're sure to love this home and its features, inside and out! BETTER HURRY, THEY SELL FAST! Selections have been made, see photos for cabinet, flooring and countertops.

ⓘ 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: $1,355 · $113/mo
• Projected year-2 tax: $2,214 · $184/mo
• Expected delta: +$859/yr (+$72/mo · 63.4%)

ⓘ 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 ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,411
• − Mortgage interest: −$15,124
• − Property taxes: −$1,355
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − HOA: −$480
• − Depreciation: −$7,855
• Taxable loss: −$5,658
• Est. tax savings @ 24.0%: +$1,358
• 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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Sneads Ferry

• Score: 63/100
• State rank: #398
• US rank: #15272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Onslow County · 164,453 people
• City population: 13,532
• Metro: Jacksonville, NC
• Population (ZIP): 13,532
• Household income: $88,908
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 349.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 13% Hispanic / Latino 9% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 2%
• Common ancestry: Lithuanian 3% Romanian 2% Portuguese 2%
• Foreign-born: 3% · South Korea, Canada
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.21%
• Current HPI: 176.3461
• Rent YoY: ▲ 5.68%
• Metro: Jacksonville, 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

+33.4% since first listed

3 events — show timeline

• 2026-05-06 Listed $270,000 Hive MLS
• 2021-08-11 Sold (MLS) $204,400 Hive MLS
• 2021-05-22 Listed $202,400 Hive MLS

Property tax history

+0.0%/yr

Latest (2025): $1,355 · +0.0% YoY. Source: county tax records.