2475 Cross Ln SW · Holden Beach, NC 28462

$249,000

3 bd · 2.0 ba · 1,755 sqft · Manufactured public records · 193 Days on market

Built 1990 1.25 ac lot Est $204k · 22% over

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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 +15.7/30.0
• DSCR +4.8/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

* * 🏡 River Life: Your Dream Riverfront Oasis! * * One, Two, Three, Four lots on the Shallotte River! Have you heard of ''River Life''? Now is your chance to live it! This stunning riverfront property features * * 5 separate parcels * * combined for a total of approximately * * 1.25 acres * * . * * Key Features: * * - * * Well-Maintained Home: * * Recently updated with a new roof (2024), this charming residence includes * * 3 bedrooms * * and * * 2 full baths * * . - * * Cozy Fireplace: * * Perfect for those chilly winter evenings, creating a warm and inviting atmosphere. - * * Outdoor Paradise: * * Enjoy a large pond with new decking, ideal for raising a

Key facts

• 1.25 acre lot
• Built 1990
• Listed 192 days

Property features AI

Exterior

• Parking: On-site parking (no garage)
• Utilities: Well water; Septic tank; Utilities: see remarks
• Home design: Manufactured home (residential); One story, entry level on first floor; Metal roof; Corner lot; River and lakefront frontage with waterfront access; Has a view
• Construction: Vinyl siding; See remarks for additional construction details; Built on crawl space
• Exterior features: Deck and porch; Privacy fencing; Shed(s) and storage; No pool

Interior

• Kitchen: Electric oven; Dishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Heating via fireplace insert, electric, and heat pump
• Interior features: Partially furnished; 7 total rooms; Crawl space basement (no finished basement)
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $249k.

Deal economics

• At list price, monthly cash flow is $42 ($501/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 $199k (20.0% below list).
• Recommended offer: $199k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.1% 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); 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: 506 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $7k 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 193 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $171k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $249k implies a 822% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $199,211 (20.0% below list)

Questions for the listing agent

1. It's been on market 193 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.80% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.86%
• DSCR: 1.08
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $203,580
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2795 Cindy St SW	0.61mi	3/2.0	1,680 (-4%)	2mo	$200,000	$119	62
2820 Hall St SW	0.63mi	3/2.0	1,600 (-9%)	4mo	$221,000	$138	52
2059 Fay Cir SW	0.70mi	3/2.0	1,830 (+4%)	11mo	$212,500	$116	51
2043 Dare St SW	0.72mi	3/2.0	1,536 (-12%)	3mo	$150,000	$98	43
2813 Cindy St SW	0.66mi	3/2.0	1,568 (-11%)	13mo	$170,000	$108	40

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-37,778
• Equity at exit: $37,127

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-29,824
• Equity at exit: $21,529

Cash invested: $69,720 (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: 506
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,992 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$56 /mo · $673/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $42

Break-even live

Break-even rent $1,939

Max offer price $249,000

Occupancy floor 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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-10
   days on market $249,000 Active 193 DOM
2. 2026-06-09
   days on market $249,000 Active 192 DOM
3. 2026-06-08
   days on market $249,000 Active 191 DOM
4. 2026-06-07
   days on market $249,000 Active 190 DOM
5. 2026-06-05
   pricedays on market $249,000 Active 187 DOM
6. 2026-06-03
   days on market $285,000 Active 186 DOM
7. 2026-06-02
   days on market $285,000 Active 185 DOM
8. 2026-06-01
   days on market $285,000 Active 184 DOM
9. 2026-05-31
   days on market $285,000 Active 183 DOM
10. 2026-05-30
    days on market $285,000 Active 182 DOM
11. 2026-05-21
    price $285,000
12. 2026-03-13
    price $349,000
13. 2026-01-05
    price $387,000
14. 2025-11-28
    listed $419,900 Active
15. 2007-06-30
    historical
16. 2006-08-12
    listed $85,900
17. 2005-09-20
    soldstatus $27,000
18. 2005-05-24
    soldstatus $14,000

ⓘ 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: $673 · $56/mo
• Projected year-2 tax: $2,042 · $170/mo
• Expected delta: +$1,369/yr (+$114/mo · 203.5%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 95% 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: $23,905
• − Mortgage interest: −$13,948
• − Property taxes: −$673
• − Insurance: −$2,042
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − Depreciation: −$7,244
• Taxable loss: −$3,826
• Est. tax savings @ 24.0%: +$918
• After-tax cash flow: $1,419/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

+1935.7% since first listed

8 events — show timeline

• 2026-05-21 Price Changed $285,000 Hive MLS
• 2026-03-13 Price Changed $349,000 Hive MLS
• 2026-01-05 Price Changed $387,000 Hive MLS
• 2025-11-28 Listed $419,900 Hive MLS
• 2007-06-30 Listing Removed — Hive MLS
• 2006-08-12 Listed $85,900 Hive MLS
• 2005-09-20 Sold (Public Records) $27,000 Public Records
• 2005-05-24 Sold (Public Records) $14,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $673 · +2.2% YoY. Source: county tax records.