113 Ocean View Ave · Kure Beach, NC 28449

$1,450,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 104 Days on market

Built 2026 4,356 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for this prime location property, located just a half a block from the Ocean in Kure Beach. Build your dream home or renovate the existing structure for your own peace of paradise in the quiet setting of Ocean View Avenue in the old Hanby Beach area. Island property locations like this are few and far between, so schedule your showing today!

Key facts

• Public beach access
• Shiplap accent wall
• Butler's pantry

Tags

• PUBLIC BEACH ACCESS
• SHIPLAP ACCENT WALL
• CHEF INSPIRED KITCHEN
• COLOSSAL KITCHEN ISLAND
• BUTLER'S PANTRY
• PRIVATE COVERED BALCONY

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 90; Lot features: front and rear sprinklers; see remarks; Road frontage: city street and state road; Zoning: RA-2
• HOA & community: No association amenities

Exterior

• Parking: Two total parking spaces; Two-car attached garage; Garage faces front; Concrete and paved surfaces; Garage door opener; Lighted parking; Off-street and on-site parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Water and sewer connected
• Home design: Single-family residence; Residential property; New construction; Three or more levels; 3 stories total; Entry facing/details not specified
• Construction: Fiber cement and frame construction; Shingle roof; Foundation: slab and pillar/post/pier/other; Home warranty included
• Exterior features: Outdoor shower; Covered porch; Deck; Porch; Wood fencing; Irrigation system; Has a view

Interior

• Kitchen: Electric oven; Electric cooktop / cooktop; Built-in electric oven; Refrigerator; Freezer; Ice maker; Disposal; Electric water heater
• Bedrooms: Bedrooms not individually listed (primary downstairsspecified)
• Flooring: Tile; See remarks
• Bathrooms: Three full bathrooms; One half bathroom; Accessible full bathroom
• Heating & cooling: Heat pump; Electric heating; Forced air; Central air conditioning; Zoned cooling
• Interior features: Primary suite located on the downstairs level; Walk-in closets; High ceilings; Kitchen island; Ceiling fans; Elevator; Pantry; Storm windows; Home sold unfurnished
• Laundry & utility: Washer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $1.45M.

Deal economics

• At list price, monthly cash flow is $-8k ($-97k/yr) — negative.
• To cash-flow at today's rent, offer at most $286k (80.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (82.8% below list).
• Recommended offer: $250k (82.8% below list) — sets the bar for 1% rule.
• Cap rate -0.4% vs local median 2.1% in Kure Beach — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 65/100 on livability (#303 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: health & safety D, amenities F, commute F.
• New Hanover County Schools (urban): math 48% / reading 53% proficiency, ranked #61 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carolina Beach Elementary (math 55% / reading 59%, grade C+, #249 of 1,410 statewide, top 20%, 431 students, 32% FRL); Charles P Murray Middle (math 59% / reading 59%, grade B, #54 of 475 statewide, top 12%, 882 students, 34% FRL); Eugene Ashley High (math 48% / reading 68%, grade C, #243 of 535 statewide, top 46%, 1,975 students, 34% FRL).
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $44k of value loss. Plan a longer hold.
• New Hanover County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $450k; list at $1.45M implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $250,000 (82.8% 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 104 days. Have you received any prior offers? Is the seller open to a 83% concession, seller financing, or rate buy-down credit?
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. 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: 0.17% ✗
• Cap rate: -0.37%
• Cash-on-cash: -23.78%
• DSCR: -0.06
• GRM: 48.3

CMA / ARV

• ARV (on-the-fly): $512,256
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1107 Fort Fisher Blvd N	0.08mi	3/1.0 (+1)	840 (+9%)	14mo	$560,000	$667	64

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: -68.6%
• Equity multiple: -0.84×
• Total profit: $-747,355
• Equity at exit: $216,200

10-year hold

• IRR: —
• Equity multiple: -2.23×
• Total profit: $-1,310,465
• Equity at exit: $125,369

Cash invested: $406,000 (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 28449

• Active inventory: 92
• Price-to-rent: 48.3×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$7,604
• Tax est. 1.5%: −$1,812 /mo · $21,750/yr
• Insurance: −$604
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-8,046

Break-even live

Break-even rent $12,684

Max offer price $285,786

Occupancy floor —

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: $362,500
• Closing costs: $43,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1606 Bonito Ln Carolina Beach, NC	3.0	2.0	1100	$2,500	$2.27	21d	1	0.29mi

Listing history 27 events

1. 2026-06-18
   days on market $1,450,000 Active 104 DOM
2. 2026-06-17
   days on market $1,450,000 Active 103 DOM
3. 2026-06-16
   days on market $1,450,000 Active 102 DOM
4. 2026-06-15
   days on market $1,450,000 Active 101 DOM
5. 2026-06-14
   days on market $1,450,000 Active 99 DOM
6. 2026-06-13
   days on market $1,450,000 Active 98 DOM
7. 2026-06-10
   days on market $1,450,000 Active 96 DOM
8. 2026-06-09
   days on market $1,450,000 Active 95 DOM
9. 2026-06-08
   days on market $1,450,000 Active 94 DOM
10. 2026-06-07
    days on market $1,450,000 Active 93 DOM
11. 2026-06-05
    days on market $1,450,000 Active 90 DOM
12. 2026-06-03
    days on market $1,450,000 Active 89 DOM
13. 2026-06-03
    days on market $1,450,000 Active 88 DOM
14. 2026-05-31
    days on market $1,450,000 Active 86 DOM
15. 2026-05-30
    days on market $1,450,000 Active 85 DOM
16. 2026-03-06
    listed $1,450,000 Active
17. 2025-03-17
    soldstatus $450,000 Closed 361-char remark

    Show marketing remark (361 chars)

    Great opportunity for this prime location property, located just a half a block from the Ocean in Kure Beach. Build your dream home or renovate the existing structure for your own peace of paradise in the quiet setting of Ocean View Avenue in the old Hanby Beach area. Island property locations like this are few and far between, so schedule your showing today!

18. 2025-03-17
    soldstatus $450,000

    Show marketing remark (361 chars)

    Great opportunity for this prime location property, located just a half a block from the Ocean in Kure Beach. Build your dream home or renovate the existing structure for your own peace of paradise in the quiet setting of Ocean View Avenue in the old Hanby Beach area. Island property locations like this are few and far between, so schedule your showing today!

19. 2025-03-03
    status Pending 361-char remark

    Show marketing remark (361 chars)

    Great opportunity for this prime location property, located just a half a block from the Ocean in Kure Beach. Build your dream home or renovate the existing structure for your own peace of paradise in the quiet setting of Ocean View Avenue in the old Hanby Beach area. Island property locations like this are few and far between, so schedule your showing today!

20. 2025-03-03
    status Active 361-char remark

    Show marketing remark (361 chars)

    Great opportunity for this prime location property, located just a half a block from the Ocean in Kure Beach. Build your dream home or renovate the existing structure for your own peace of paradise in the quiet setting of Ocean View Avenue in the old Hanby Beach area. Island property locations like this are few and far between, so schedule your showing today!

21. 2025-01-07
    status Pending 361-char remark

    Show marketing remark (361 chars)

    Great opportunity for this prime location property, located just a half a block from the Ocean in Kure Beach. Build your dream home or renovate the existing structure for your own peace of paradise in the quiet setting of Ocean View Avenue in the old Hanby Beach area. Island property locations like this are few and far between, so schedule your showing today!

22. 2025-01-02
    listed $479,000 Active 361-char remark

    Show marketing remark (361 chars)

    Great opportunity for this prime location property, located just a half a block from the Ocean in Kure Beach. Build your dream home or renovate the existing structure for your own peace of paradise in the quiet setting of Ocean View Avenue in the old Hanby Beach area. Island property locations like this are few and far between, so schedule your showing today!

23. 2020-02-12
    historical
24. 2019-11-01
    listed $329,000
25. 2007-05-31
    soldstatus $340,000
26. 2007-05-25
    soldstatus $340,000
27. 2007-02-23
    listed $348,900

ⓘ 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 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 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: $30,000
• − Mortgage interest: −$81,223
• − Property taxes: −$21,750
• − Insurance: −$7,250
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$42,182
• Taxable loss: −$127,204
• Est. tax savings @ 24.0%: +$30,529
• After-tax cash flow: $-66,018/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: New Hanover County Schools
• NCES district ID: 3703330
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $49,406
• Composite: 43.13/100
• National rank: #3081
• State rank: #61 of 178 in NC

Livability — Kure Beach

• Score: 65/100
• State rank: #303
• US rank: #12563

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kure Beach, NC
• Population (ZIP): 2,017

Population outlook (New Hanover County) Hauer SSP2

• Today (2025): 259,517 people
• By 2030: 279,586 · +7.7%
• By 2040: 318,223 · +22.6%
• By 2050: 354,831 · +36.7%
• By 2075: 437,158 · +68.5%
• By 2100: 486,769 · +87.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Romanian 6% Serbian 5% Lithuanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · New Hanover

• 2024 margin: Toss-up / Even · D 49.8% · R 49.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: -1.4pp · 2024: 0.6pp
• All cycles: 2024: D+0.6 2020: D+2.1 2016: R+4.1 2012: R+4.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.31%
• Current HPI: 246.571
• 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

+315.6% since first listed

12 events — show timeline

• 2026-03-06 Listed $1,450,000 Hive MLS
• 2025-03-17 Sold (Public Records) $450,000 Public Records
• 2025-03-17 Sold (MLS) $450,000 Hive MLS
• 2025-03-03 Pending — Hive MLS
• 2025-03-03 Relisted — Hive MLS
• 2025-01-07 Pending — Hive MLS
• 2025-01-02 Listed $479,000 Hive MLS
• 2020-02-12 Listing Removed — Hive MLS
• 2019-11-01 Listed $329,000 Hive MLS
• 2007-05-31 Sold (MLS) $340,000 Hive MLS
• 2007-05-25 Sold (Public Records) $340,000 Public Records
• 2007-02-23 Listed $348,900 Hive MLS

Property tax history

-0.9%/yr

Latest (2025): $1,860 · -18.2% YoY. Source: county tax records.