1308 Old Mill Creek Rd SE · Boiling Spring Lakes, NC 28479

$277,000

3 bd · 1.0 ba · 1,376 sqft · SingleFamily public records · 47 Days on market

Built 1979 0.54 ac lot

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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 +11.6/30.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +3.9/10.0
• DSCR +3.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

Discover the potential of this charming 3-bedroom, 1-bathroom home nestled on a picturesque wooded lot at 1308 Old Mill Creek Rd. Offering 1,000 square feet of cozy living space, this home features a functional layout ready for your personal touch. While the interior is dated, major updates have already been taken care of, including a new roof in 2018 and a brand-new HVAC system installed in 2024—providing peace of mind and modern comfort. The true gem is the expansive, wooded yard—beautifully serene and perfect for outdoor living, gardening, or simply relaxing in nature.

Key facts

• Fully renovated
• Half-acre lot
• Open green space

Tags

• FULLY RENOVATED
• HALF-ACRE LOT
• MATURE TREES
• OPEN GREEN SPACE
• UPDATED INTERIOR
• LUXURY VINYL PLANK FLOORING

Property features AI

Finance

• Other: Zoning: CO-RR
• HOA & community: No association amenities

Exterior

• Parking: Unpaved off-street parking
• Security: Security system
• Utilities: Well water; Septic tank; Water and sewer available
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Brick and frame construction; Shingle roof; Slab foundation; Built on a 0.54-acre lot (approximately 150 x 166 x 150 x 150)
• Exterior features: Porch; Shed(s); Has a view; No fencing

Interior

• Kitchen: Refrigerator; Range; Dishwasher; Electric water heater
• Bedrooms: Master downstairs
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Master bedroom on main level; Ceiling fans; Security system
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $277k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (29.7% below list).
• Recommended offer: $195k (29.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: 191 active listings in the ZIP; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.2% local appreciation)).
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, 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 47 days — a 3% lower offer ($269k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $177k; list at $277k implies a 56% 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 $194,772 (29.7% 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 47 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.70% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.30%
• DSCR: 0.94
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.7%
• Equity multiple: 1.04×
• Total profit: $2,873
• Equity at exit: $97,940

10-year hold

• IRR: 5.3%
• Equity multiple: 1.66×
• Total profit: $50,991
• Equity at exit: $132,806

Cash invested: $77,560 (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: 191
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,948 medium
• Mortgage (P&I): −$1,453
• Tax from tax record: −$54 /mo · $652/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $-84

Break-even live

Break-even rent $2,054

Max offer price $262,213

Occupancy floor 99%

Sensitivity live

Price	-10% $73	-5% $-5	+0% $-84	+5% $-162	+10% $-241
Rent	-10% $-238	-5% $-161	+0% $-84	+5% $-7	+10% $70
Rate	-1.0pp $56	-0.5pp $-13	base $-84	+0.5pp $-155	+1.0pp $-229

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: $69,250
• Closing costs: $8,310
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-22
   days on market $277,000 Active 47 DOM
2. 2026-06-18
   days on market $277,000 Active 44 DOM
3. 2026-06-17
   days on market $277,000 Active 43 DOM
4. 2026-06-16
   days on market $277,000 Active 42 DOM
5. 2026-06-15
   days on market $277,000 Active 41 DOM
6. 2026-06-14
   days on market $277,000 Active 39 DOM
7. 2026-06-13
   days on market $277,000 Active 38 DOM
8. 2026-06-10
   days on market $277,000 Active 36 DOM
9. 2026-06-09
   days on market $277,000 Active 35 DOM
10. 2026-06-08
    days on market $277,000 Active 34 DOM
11. 2026-06-07
    days on market $277,000 Active 33 DOM
12. 2026-06-05
    days on market $277,000 Active 30 DOM
13. 2026-06-03
    days on market $277,000 Active 29 DOM
14. 2026-06-02
    days on market $277,000 Active 28 DOM
15. 2026-06-01
    days on market $277,000 Active 27 DOM
16. 2026-05-31
    days on market $277,000 Active 26 DOM
17. 2026-05-30
    days on market $277,000 Active 25 DOM
18. 2026-05-05
    listed $277,000 Active
19. 2026-04-17
    historical
20. 2025-12-22
    price $286,500
21. 2025-11-25
    listed $292,500 Active
22. 2025-06-26
    soldstatus $177,000 Closed 590-char remark

    Show marketing remark (590 chars)

    Discover the potential of this charming 3-bedroom, 1-bathroom home nestled on a picturesque wooded lot at 1308 Old Mill Creek Rd. Offering 1,000 square feet of cozy living space, this home features a functional layout ready for your personal touch. While the interior is dated, major updates have already been taken care of, including a new roof in 2018 and a brand-new HVAC system installed in 2024—providing peace of mind and modern comfort. The true gem is the expansive, wooded yard—beautifully serene and perfect for outdoor living, gardening, or simply relaxing in nature.

23. 2025-06-25
    soldstatus $177,000
24. 2025-05-28
    status Pending 590-char remark

    Show marketing remark (590 chars)

    Discover the potential of this charming 3-bedroom, 1-bathroom home nestled on a picturesque wooded lot at 1308 Old Mill Creek Rd. Offering 1,000 square feet of cozy living space, this home features a functional layout ready for your personal touch. While the interior is dated, major updates have already been taken care of, including a new roof in 2018 and a brand-new HVAC system installed in 2024—providing peace of mind and modern comfort. The true gem is the expansive, wooded yard—beautifully serene and perfect for outdoor living, gardening, or simply relaxing in nature.

25. 2025-05-01
    listed $175,000 Active 590-char remark

    Show marketing remark (590 chars)

    Discover the potential of this charming 3-bedroom, 1-bathroom home nestled on a picturesque wooded lot at 1308 Old Mill Creek Rd. Offering 1,000 square feet of cozy living space, this home features a functional layout ready for your personal touch. While the interior is dated, major updates have already been taken care of, including a new roof in 2018 and a brand-new HVAC system installed in 2024—providing peace of mind and modern comfort. The true gem is the expansive, wooded yard—beautifully serene and perfect for outdoor living, gardening, or simply relaxing in nature.

ⓘ 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: $652 · $54/mo
• Projected year-2 tax: $2,271 · $189/mo
• Expected delta: +$1,619/yr (+$135/mo · 248.1%)

ⓘ 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 8/10 Severe 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: $23,373
• − Mortgage interest: −$15,516
• − Property taxes: −$652
• − Insurance: −$1,385
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − Depreciation: −$8,058
• Taxable loss: −$5,979
• Est. tax savings @ 24.0%: +$1,435
• After-tax cash flow: $430/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

• 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

+58.3% since first listed

8 events — show timeline

• 2026-05-05 Listed $277,000 Hive MLS
• 2026-04-17 Listing Removed — Hive MLS
• 2025-12-22 Price Changed $286,500 Hive MLS
• 2025-11-25 Listed $292,500 Hive MLS
• 2025-06-26 Sold (MLS) $177,000 Hive MLS
• 2025-06-25 Sold (Public Records) $177,000 Public Records
• 2025-05-28 Pending — Hive MLS
• 2025-05-01 Listed $175,000 Hive MLS

Property tax history

+2.0%/yr

Latest (2025): $652 · +4.7% YoY. Source: county tax records.