3104 Gill Net Ave SW · Holden Beach, NC 28462

$189,900

3 bd · 2.0 ba · 1,056 sqft · Land · 125 Days on market

Built 2024 4,792 sqft lot $67/mo HOA · 3% 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 +18.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.5/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RESIDENTAL LOT AVAILABLE! Have you ever dreamed of having your own land near the ICW and Holden Beach? Look no further - this is it! Located in Windy Park, this lot is perfect for your getaway home with the option of joining the Tanglewood HOA and enjoy it's amenities. Those include a fishing pier, renovated boat ramp, and a sprawling picnic area. Come by and walk the land while envisioning your own personal beach retreat!

Key facts

• Laminate floors
• Pier
• Boat ramp access

Tags

• BOAT RAMP ACCESS
• PIER
• LAMINATE FLOORS
• PARTIAL VINYL FENCE
• INTRACOASTAL WATERWAY

Property features AI

Finance

• Other: Zoning: Co-R-6000
• HOA & community: Homeowners association with annual fees (two listed): $500/year and $300/year; Monthly equivalent association fee approximately $41.67; Association amenities include boat dock, meeting room, and picnic area

Exterior

• Parking: Unpaved parking
• Security: Smoke detectors
• Utilities: Public water; Sewer connected; Septic tank; Cable available; Water connected
• Home design: Manufactured home; One-level (single story); Entry at main level; New construction; Has a view
• Construction: Brick and vinyl siding with frame construction; Brick/mortar foundation; Shingle roof; Built as a manufactured home
• Exterior features: Partial vinyl front-yard fencing; Open, level front yard; Private unimproved road frontage; Front yard access

Interior

• Kitchen: Refrigerator; Dishwasher; Electric range
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; Accessible full bathroom
• Heating & cooling: Heat pump; Electric heating; Forced air; Central air
• Interior features: Walk-in closets; High ceilings; Eat-in kitchen; Storm windows; Window coverings; Crawl space basement
• Laundry & utility: Washer hookup in hall; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $190k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.0% in Holden Beach — 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 65/100 on livability (#334 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, housing A; Watch: cost of living D, 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: Supply Elementary (math 46% / reading 39%, grade F, #625 of 1,410 statewide, top 45%, 539 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% 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: 513 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 40% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $6k 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 125 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $16k; list at $190k implies a 1087% 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; moderate 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 $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
6. 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.
7. 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.
8. 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: 1.05% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.34%
• DSCR: 1.19
• GRM: 8.0

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-18,456
• Equity at exit: $28,315

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-15
• Equity at exit: $16,419

Cash invested: $53,172 (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 28462

• Active inventory: 513
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,989 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$67
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $192

Break-even live

Break-even rent $1,746

Max offer price $189,900

Occupancy floor 85%

Sensitivity live

Price	-10% $323	-5% $258	+0% $192	+5% $127	+10% $61
Rent	-10% $35	-5% $114	+0% $192	+5% $271	+10% $349
Rate	-1.0pp $288	-0.5pp $241	base $192	+0.5pp $143	+1.0pp $93

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2272 Dolphin Shores Dr SW Unit 404 Supply, NC	2.0	2.0	1216	$1,650	$1.36	15d	1	0.45mi

HOA detail

• Monthly dues: $67 · $804/yr

Listing history 27 events

1. 2026-06-22
   days on market $189,900 Active 125 DOM
2. 2026-06-18
   days on market $189,900 Active 122 DOM
3. 2026-06-17
   days on market $189,900 Active 121 DOM
4. 2026-06-16
   days on market $189,900 Active 120 DOM
5. 2026-06-15
   days on market $189,900 Active 119 DOM
6. 2026-06-14
   days on market $189,900 Active 117 DOM
7. 2026-06-13
   days on market $189,900 Active 116 DOM
8. 2026-06-10
   days on market $189,900 Active 114 DOM
9. 2026-06-09
   days on market $189,900 Active 113 DOM
10. 2026-06-08
    days on market $189,900 Active 112 DOM
11. 2026-06-07
    days on market $189,900 Active 111 DOM
12. 2026-06-05
    days on market $189,900 Active 108 DOM
13. 2026-06-03
    days on market $189,900 Active 107 DOM
14. 2026-06-02
    days on market $189,900 Active 106 DOM
15. 2026-06-01
    days on market $189,900 Active 105 DOM
16. 2026-05-31
    days on market $189,900 Active 104 DOM
17. 2026-05-30
    days on market $189,900 Active 103 DOM
18. 2026-05-05
    price $189,900
19. 2026-02-16
    listed $199,000 Active
20. 2023-12-07
    soldstatus $16,000 Closed 426-char remark

    Show marketing remark (426 chars)

    RESIDENTAL LOT AVAILABLE! Have you ever dreamed of having your own land near the ICW and Holden Beach? Look no further - this is it! Located in Windy Park, this lot is perfect for your getaway home with the option of joining the Tanglewood HOA and enjoy it's amenities. Those include a fishing pier, renovated boat ramp, and a sprawling picnic area. Come by and walk the land while envisioning your own personal beach retreat!

21. 2023-12-07
    soldstatus $16,000

    Show marketing remark (426 chars)

    RESIDENTAL LOT AVAILABLE! Have you ever dreamed of having your own land near the ICW and Holden Beach? Look no further - this is it! Located in Windy Park, this lot is perfect for your getaway home with the option of joining the Tanglewood HOA and enjoy it's amenities. Those include a fishing pier, renovated boat ramp, and a sprawling picnic area. Come by and walk the land while envisioning your own personal beach retreat!

22. 2023-11-12
    status Pending 426-char remark

    Show marketing remark (426 chars)

    RESIDENTAL LOT AVAILABLE! Have you ever dreamed of having your own land near the ICW and Holden Beach? Look no further - this is it! Located in Windy Park, this lot is perfect for your getaway home with the option of joining the Tanglewood HOA and enjoy it's amenities. Those include a fishing pier, renovated boat ramp, and a sprawling picnic area. Come by and walk the land while envisioning your own personal beach retreat!

23. 2023-11-01
    status Pending 426-char remark

    Show marketing remark (426 chars)

    RESIDENTAL LOT AVAILABLE! Have you ever dreamed of having your own land near the ICW and Holden Beach? Look no further - this is it! Located in Windy Park, this lot is perfect for your getaway home with the option of joining the Tanglewood HOA and enjoy it's amenities. Those include a fishing pier, renovated boat ramp, and a sprawling picnic area. Come by and walk the land while envisioning your own personal beach retreat!

24. 2023-09-30
    price $25,000 426-char remark

    Show marketing remark (426 chars)

    RESIDENTAL LOT AVAILABLE! Have you ever dreamed of having your own land near the ICW and Holden Beach? Look no further - this is it! Located in Windy Park, this lot is perfect for your getaway home with the option of joining the Tanglewood HOA and enjoy it's amenities. Those include a fishing pier, renovated boat ramp, and a sprawling picnic area. Come by and walk the land while envisioning your own personal beach retreat!

25. 2023-02-04
    listed $35,000 Active 426-char remark

    Show marketing remark (426 chars)

    RESIDENTAL LOT AVAILABLE! Have you ever dreamed of having your own land near the ICW and Holden Beach? Look no further - this is it! Located in Windy Park, this lot is perfect for your getaway home with the option of joining the Tanglewood HOA and enjoy it's amenities. Those include a fishing pier, renovated boat ramp, and a sprawling picnic area. Come by and walk the land while envisioning your own personal beach retreat!

26. 2022-11-11
    historical
27. 2022-11-04
    listed $139,900 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $23,873
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − HOA: −$804
• − Depreciation: −$5,524
• Taxable loss: −$711
• Est. tax savings @ 24.0%: +$171
• After-tax cash flow: $2,478/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 — Holden Beach

• Score: 65/100
• State rank: #334
• US rank: #13586

Category grades

Amenities F Commute F Cost of living D Crime A Employment A+ 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): 12,340
• Household income: $60,349
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 269.0

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 (87%)
• Race & ethnicity: White 87% Black 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -259.44%
• Current HPI: 144.2462
• 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

+35.7% since first listed

10 events — show timeline

• 2026-05-05 Price Changed $189,900 Hive MLS
• 2026-02-16 Listed $199,000 Hive MLS
• 2023-12-07 Sold (Public Records) $16,000 Public Records
• 2023-12-07 Sold (MLS) $16,000 Hive MLS
• 2023-11-12 Pending — Hive MLS
• 2023-11-01 Pending — Hive MLS
• 2023-09-30 Price Changed $25,000 Hive MLS
• 2023-02-04 Listed $35,000 Hive MLS
• 2022-11-11 Listing Removed — Hive MLS
• 2022-11-04 Listed $139,900 Hive MLS

Property tax history

-3.5%/yr

Latest (2025): $68 · +0.0% YoY. Source: county tax records.