1761 Kittrell Dr SW · Ocean Isle Beach, NC 28469

$269,000

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 168 Days on market

Built 1987 9,583 sqft lot Est $274k · at est. $17/mo HOA · 1% 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 +14.1/30.0
• ARV discount +8.3/15.0
• DSCR +4.3/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Location, Location, Location! This beautifully updated home is perfectly situated just minutes from Sunset Beach and Ocean Isle Beach—two of the most breathtaking beaches in the world—as well as the Intracoastal Waterway, offering endless opportunities for boating, water sports, and coastal living. This home has undergone an impressive makeover with major upgrades, including a new roof (2023), gas pack (2023), all-new ductwork and insulation, and brand-new LVP flooring (2025). The interior shines with fresh paint (2025), new quartz countertops (2025), new doors (2024), all newer plumbing fixtures, and a new washer and dryer. The primary bathroom features a newer 5-ft tiled show

Key facts

• Fresh paint
• New gas pack
• New ductwork

Tags

• NEW ROOF
• NEW GAS PACK
• NEW DUCTWORK
• NEW INSULATION
• NEW LVP FLOORING
• FRESH PAINT

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $200 (approximately $16.67/month)

Exterior

• Parking: Gravel parking
• Utilities: Water connected
• Home design: Single-family residence; One story; Entry level is 1
• Construction: Vinyl siding and frame construction; Shingle roof; Built on crawl space
• Exterior features: Screened porch; Paved road access

Interior

• Bedrooms: 6 rooms total
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Propane heating
• Interior features: Accessible full bathroom; Crawl space basement; Has view

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $38 ($454/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 $210k (21.9% below list).
• Recommended offer: $210k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 1.4% in Ocean Isle 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 62/100 on livability (#454 in NC) — a middle-class / working-renter tenant base. Strengths: employment 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: 536 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,112 units permitted in Brunswick County in 2024 (990 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.
• 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 168 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; list at $269k implies a 1394% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,034 (21.9% below list)

Questions for the listing agent

1. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 22% 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: 0.78% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.60%
• DSCR: 1.03
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $273,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1724 Whispering Pine St SW	0.20mi	3/2.0	1,258 (+5%)	6mo	$284,250	$226	77
1740 Ocean View Dr SW	0.03mi	3/2.0	1,322 (+10%)	10mo	$390,000	$295	73
1710 Lot 1- Lewis C Whispering Pine St	0.22mi	3/2.0	1,256 (+5%)	11mo	$239,000	$190	73
1710 Whispering Pine St SW Lot 1- Lewis C	0.23mi	3/2.0	1,256 (+5%)	11mo	$239,000	$190	72
1968 Oak St SW	0.48mi	3/2.0	1,196 (-0%)	7mo	$365,000	$305	71
2015 Ocean Haven Rd SW	0.49mi	3/2.0	1,260 (+5%)	1mo	$340,000	$270	68
1975 Waterloo St SW	0.28mi	2/2.0 (-1)	1,350 (+12%)	8mo	$410,000	$304	54
1955 Camelot Dr SW	0.43mi	2/2.0 (-1)	1,331 (+11%)	6mo	$520,000	$391	52
1631 Gate 1 Dr SW	0.74mi	3/2.0	1,292 (+8%)	5mo	$245,500	$190	48
7179 Kamloop Dr SW	0.57mi	3/2.0	1,380 (+15%)	6mo	$270,000	$196	43
1710 Bay Tree Ct SW	0.71mi	3/2.0	1,334 (+11%)	12mo	$289,900	$217	39
7293 Nursery Rd SW	0.73mi	3/2.0	1,339 (+12%)	11mo	$305,000	$228	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-41,292
• Equity at exit: $40,109

10-year hold

• IRR: -7.0%
• Equity multiple: 0.56×
• Total profit: $-33,316
• Equity at exit: $23,258

Cash invested: $75,320 (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 28469

• Active inventory: 536
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$82 /mo · $980/yr
• Insurance: −$112
• HOA: −$17
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $38

Break-even live

Break-even rent $2,052

Max offer price $269,000

Occupancy floor 93%

Sensitivity live

Price	-10% $190	-5% $114	+0% $38	+5% $-38	+10% $-114
Rent	-10% $-128	-5% $-45	+0% $38	+5% $121	+10% $204
Rate	-1.0pp $173	-0.5pp $106	base $38	+0.5pp $-32	+1.0pp $-103

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1950 Ocean View Dr SW Ocean Isle Beach, NC	3.0	2.0	1356	$2,250	$1.66	24d	1	0.30mi
1407 Sunset Creek Way Ocean Isle Beach, NC	1.0–2.0	1.0–2.0	872	$1,535	$1.76	14d	25	0.94mi

HOA detail

• Monthly dues: $17 · $204/yr
• Likely covers: watergas

Listing history 5 events

1. 2026-05-31
   days on market $269,000 Active 168 DOM
2. 2026-05-30
   days on market $269,000 Active 167 DOM
3. 2026-03-12
   price $269,000
4. 2025-12-13
   listed $299,000 Active
5. 1986-07-01
   soldstatus $18,000

ⓘ 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: $980 · $82/mo
• Projected year-2 tax: $2,206 · $184/mo
• Expected delta: +$1,226/yr (+$102/mo · 125.1%)

ⓘ 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 4/10 Moderate
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,204
• − Mortgage interest: −$15,068
• − Property taxes: −$980
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − HOA: −$204
• − Depreciation: −$7,825
• Taxable loss: −$4,251
• Est. tax savings @ 24.0%: +$1,020
• After-tax cash flow: $1,475/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 — Ocean Isle Beach

• Score: 62/100
• State rank: #454
• US rank: #16695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,364

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Black 2% Two or more races 1%
• Common ancestry: Romanian 3% Lithuanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 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: ▼ -270.51%
• Current HPI: 143.229
• 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

+1394.4% since first listed

3 events — show timeline

• 2026-03-12 Price Changed $269,000 Hive MLS
• 2025-12-13 Listed $299,000 Hive MLS
• 1986-07-01 Sold (Public Records) $18,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $980 · +0.0% YoY. Source: county tax records.