3534 Wigeon Way · Leland, NC 28479

$334,900

3 bd · 2.0 ba · 1,481 sqft · SingleFamily public records · 27 Days on market

Built 2023 Good condition Est $401k · 17% under

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Why this score? — see what drove the C+ 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 +16.9/30.0
• ARV discount +15.0/15.0
• Appreciation +5.6/10.0
• DSCR +5.2/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0

Listing remarks

Welcome to this beautifully maintained, move-in ready home tucked away in one of the area & acirc; & euro; & trade; s most desirable communities of Mallory Creek. Thoughtfully designed with modern finishes and a bright, open layout, this like-new ranch offers the perfect blend of comfort, style, and everyday convenience. Inside, you & acirc; & euro; & trade; ll find updated fixtures, abundant natural light, and an open-concept living space that flows seamlessly into the kitchen and dining area that is perfect for everyday living and entertaining. The spacious primary suite offers a relaxing retreat, while additional bedrooms provide flexibility for guests, family, or

Key facts

• Community amenities
• Fully fenced yard
• Patio space

Tags

• FULLY FENCED YARD
• PATIO SPACE
• COMMUNITY AMENITIES
• WALKING TRAILS
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $335k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $218 ($3k/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 $291k (13.0% below list).
• Recommended offer: $291k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.2% in Leland — 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 68/100 on livability (#177 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools 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.
• Market conditions: 188 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); 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.2% local appreciation)).
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $94k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($330k) is reasonable based on typical stale-listing flexibility.

Recommended offer $291,363 (13.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.87% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.79%
• DSCR: 1.12
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $401,351
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6488 Pinnacle Pt	0.26mi	3/2.0	1,507 (+2%)	2mo	$335,000	$222	83
2672 Silverweed Ct	0.30mi	2/2.0 (-1)	1,549 (+5%)	3mo	$380,000	$245	71
342 Heartwood Dr #2	0.47mi	2/2.0 (-1)	1,492 (+1%)	5mo	$404,843	$271	68
9634 Large Oak Ct	0.55mi	3/2.0	1,416 (-4%)	1mo	$335,000	$237	66
2664 Silverweed Ct	0.30mi	2/2.0 (-1)	1,345 (-9%)	3mo	$411,760	$306	63
5027 Meadow Buttercup Ct #207	0.47mi	2/2.0 (-1)	1,403 (-5%)	5mo	$400,000	$285	60
420 St Kitts Way	0.72mi	3/2.0	1,505 (+2%)	6mo	$340,000	$226	59
346 Heartwood Dr #3	0.48mi	2/2.0 (-1)	1,403 (-5%)	6mo	$389,000	$277	59
9638 Large Oak Ct Lot 71	0.56mi	3/2.0	1,618 (+9%)	1mo	$347,500	$215	58
5308 Black Oak Ct	0.59mi	3/2.0	1,359 (-8%)	3mo	$324,000	$238	56
1319 Star Grass Way	0.66mi	2/2.0 (-1)	1,404 (-5%)	1mo	$445,000	$317	55
350 Heartwood Dr #4	0.49mi	2/2.0 (-1)	1,345 (-9%)	4mo	$375,000	$279	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.25×
• Total profit: $23,908
• Equity at exit: $118,412

10-year hold

• IRR: 9.1%
• Equity multiple: 2.13×
• Total profit: $105,988
• Equity at exit: $160,565

Cash invested: $93,772 (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 28479

• Home prices YoY: 0.8%
• Active inventory: 188
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,914 high
• Mortgage (P&I): −$1,756
• Tax from tax record: −$188 /mo · $2,252/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $218

Break-even live

Break-even rent $2,637

Max offer price $334,900

Occupancy floor 88%

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: $83,725
• Closing costs: $10,047
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4756 Scaup Way Winnabow, NC	3.0	2.0	1618	$3,500	$2.16	14d	1	0.19mi
819 Meadowsweet Ln Leland, NC	2.0	2.0	1011	$2,300	$2.27	23d	1	1.09mi
136 N Palm Dr Winnabow, NC	3.0	2.0	1235	$1,850	$1.50	23d	1	1.34mi
136 N Palm Dr Winnabow, NC	3.0	2.0	1235	$1,850	$1.50	14d	1	1.34mi
1001 Hunterstone Dr Leland, NC	1.0–3.0	1.0–2.0	850	$1,482	$1.74	14d	29	1.40mi
2108 Silty Soil Ct Leland, NC	2.0–3.0	2.5	1442	$2,074	$1.44	14d	23	1.40mi

Listing history 17 events

1. 2026-06-18
   days on market $334,900 Active 27 DOM
2. 2026-06-17
   days on market $334,900 Active 26 DOM
3. 2026-06-16
   days on market $334,900 Active 25 DOM
4. 2026-06-15
   days on market $334,900 Active 24 DOM
5. 2026-06-14
   days on market $334,900 Active 22 DOM
6. 2026-06-13
   days on market $334,900 Active 21 DOM
7. 2026-06-10
   days on market $334,900 Active 19 DOM
8. 2026-06-09
   days on market $334,900 Active 18 DOM
9. 2026-06-08
   days on market $334,900 Active 17 DOM
10. 2026-06-07
    days on market $334,900 Active 16 DOM
11. 2026-06-05
    days on market $334,900 Active 13 DOM
12. 2026-06-03
    days on market $334,900 Active 12 DOM
13. 2026-06-02
    days on market $334,900 Active 11 DOM
14. 2026-06-01
    days on market $334,900 Active 10 DOM
15. 2026-05-31
    days on market $334,900 Active 9 DOM
16. 2026-05-30
    days on market $334,900 Active 8 DOM
17. 2026-05-23
    listed $334,900 Active

ⓘ 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: $2,252 · $188/mo
• Projected year-2 tax: $2,746 · $229/mo
• Expected delta: +$495/yr (+$41/mo · 22.0%)

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

Taxation est. · year 1

• Rental income: $34,964
• − Mortgage interest: −$18,760
• − Property taxes: −$2,252
• − Insurance: −$1,674
• − Repairs & maintenance: −$2,797
• − Management: −$2,797
• − Depreciation: −$9,743
• Taxable loss: −$3,059
• Est. tax savings @ 24.0%: +$734
• After-tax cash flow: $3,354/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This move-in ready home in Mallory Creek offers a good condition with modern finishes and a bright, open layout. It is in need of a fresh exterior paint job and gutter inspection for optimal value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace or clean gutters — Improves drainage and prevents water damage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace or clean gutters — Improves drainage and prevents water damage ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Leland

• Score: 68/100
• State rank: #177
• US rank: #9158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leland, NC
• City population: 46,933
• Population (ZIP): 6,971

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 (72%)
• Race & ethnicity: White 72% Black 13% Two or more races 13% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Slovak 2% Italian 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 3%

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: ▲ 1.23%
• Current HPI: 159.4516
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-23 Listed $334,900 FSBO.com

Property tax history

+0.0%/yr

Latest (2025): $2,252 · +0.0% YoY. Source: county tax records.