317 S Fourth Ave Unit B · Kure Beach, NC 28449

$845,000

3 bd · 3.0 ba · 2,575 sqft · Townhouse · 1 Days on market

Built 2026 Good condition 4,792 sqft lot Est $1277k · 34% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Start your day with a short walk to the beach, rinse off in the outdoor shower, then settle in for coastal breezes from your balcony. Located just two blocks from the ocean in walkable Kure Beach, this new construction 3-level townhome is designed for easy coastal living. Spanning 2,181 sq ft, plus a 394 sq ft bonus/recreation room (totaling 2,575 sq ft) with 3 bedrooms and 3.5 baths, the layout is ideal for full-time living or an elevated beach retreat. Inside, the home is bright and open with 9-ft ceilings, luxury vinyl plank flooring throughout, oak stair treads, and craftsman-style trim. The main living is designed for connection and comfort, highlighted by a coffered ceiling and wall-m

Key facts

• New construction
• Outdoor shower
• Coffered ceiling

Tags

• OUTDOOR SHOWER
• NEW CONSTRUCTION
• BONUS RECREATION ROOM
• COFFERED CEILING
• SOFT CLOSE SHAKER CABINETRY
• SCULLERY STYLE PREP PANTRY

Property features AI

Finance

• Other: Zoning: RA-2; Lot is an open, irregular-shaped 0.11-acre parcel; Road surface is paved

Exterior

• Parking: 1 parking space total; 1-car attached garage; Garage faces front; Concrete on-site parking; Off-street parking
• Security: Smoke detector(s); Accessible elevator installed; Accessible full bath
• Utilities: Public water; Sewer connected; Water connected
• Home design: Residential townhouse; Duplex; Entry level: 1; Three or more levels; 3 total stories; New construction; Has a view; Frontage and road access from city street/state road
• Construction: Fiber cement and frame construction; Shingle roof; Slab foundation; Has home warranty
• Exterior features: Outdoor shower; Covered deck, patio and rear porch

Interior

• Kitchen: Range; Electric range; Dishwasher; Microwave; Disposal; Vented exhaust fan; Electric water heater
• Bedrooms: Total rooms: 7
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air; Heat pump; Heat pump heating; Fireplace(s); Electric heating; Forced air
• Interior features: Walk-in closets; Tray ceilings; High ceilings; Kitchen island; Elevator; Ceiling fans; Pantry; Wet bar; Unfurnished
• Laundry & utility: Washer hookup; Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $845k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $13k ($157k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $845k).
• Cap rate 24.9% vs local median 2.1% in Kure 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 (#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: 94 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 $6k of loan paydown is wiped out by about $25k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $237k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $845,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.84% ✓
• Cap rate: 24.93%
• Cash-on-cash: 66.54%
• DSCR: 3.96
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $1,277,200
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 Fort Fisher Blvd S Unit A	0.32mi	4/3.5 (+1)	2,479 (-4%)	6mo	$2,375,000	$958	67
301 Fort Fisher Blvd S Unit B	0.49mi	4/3.0 (+1)	2,435 (-5%)	6mo	$1,500,000	$616	58
221 Atlantic Ave Unit A	0.44mi	4/4.0 (+1)	2,500 (-3%)	10mo	$1,426,500	$571	57
401 Fort Fisher Blvd S Unit A	0.12mi	4/4.0 (+1)	2,216 (-14%)	12mo	$1,100,000	$496	52
302 N 3rd Ave Unit A	0.50mi	4/3.5 (+1)	2,412 (-6%)	19mo	$660,000	$274	43
644 B S Fort Fisher Blvd Unit B	0.40mi	4/4.5 (+1)	2,904 (+13%)	10mo	$740,000	$255	40
321 Red Lewis Dr #15	0.64mi	4/3.5 (+1)	2,242 (-13%)	4mo	$931,000	$415	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: 65.8%
• Equity multiple: 3.95×
• Total profit: $699,081
• Equity at exit: $125,992

10-year hold

• IRR: 70.1%
• Equity multiple: 8.13×
• Total profit: $1,686,245
• Equity at exit: $73,060

Cash invested: $236,600 (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: 94
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $24,000 medium
• Mortgage (P&I): −$4,431
• Tax est. 1.5%: −$1,056 /mo · $12,675/yr
• Insurance: −$352
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,040
• Net cashflow: $13,120

Break-even live

Break-even rent $7,392

Max offer price $845,000

Occupancy floor 40%

Sensitivity live

Price	-10% $13,704	-5% $13,412	+0% $13,120	+5% $12,828	+10% $12,536
Rent	-10% $11,224	-5% $12,172	+0% $13,120	+5% $14,068	+10% $15,016
Rate	-1.0pp $13,546	-0.5pp $13,335	base $13,120	+0.5pp $12,901	+1.0pp $12,679

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: $211,250
• Closing costs: $25,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1622 Swordfish Ln #1 Carolina Beach, NC	4.0	3.5	2476	$24,000	$9.69	22d	1	1.41mi

Listing history 2 events

1. 2026-05-23
   status Pending
2. 2026-05-22
   listed $845,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $288,000
• − Mortgage interest: −$47,333
• − Property taxes: −$12,675
• − Insurance: −$4,225
• − Repairs & maintenance: −$23,040
• − Management: −$23,040
• − Depreciation: −$24,582
• Taxable income: $153,105
• Est. tax owed @ 24.0%: −$36,745
• After-tax cash flow: $120,700/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.

Condition & rehab AI · 8 photos

Good 80/100 Cosmetic rehab

This 3-level townhome is in good condition with cosmetic construction work in the kitchen and bathroom. Painting and finishing will significantly enhance its resale and rental value.

Repairs flagged

• Major Kitchen cabinetry — Exposed drywall, unfinished cabinetry
• Major Bathroom fixtures — Exposed drywall, unfinished fixtures

Value-add opportunities

• Both Painting and finishing the kitchen and bathroom — Fresh paint and finishing will enhance the home's appeal and functionality
• Both Installing kitchen cabinetry and bathroom fixtures — Completing the kitchen and bathroom will make the home move-in ready and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinetry · Exposed drywall, unfinished cabinetry	Major	$15,000–50,000
Bathroom fixtures · Exposed drywall, unfinished fixtures	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Painting and finishing the kitchen and bathroom — Fresh paint and finishing will enhance the home's appeal and functionality ↑
• Both Installing kitchen cabinetry and bathroom fixtures — Completing the kitchen and bathroom will make the home move-in ready and increase its value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-05-23 Pending — Hive MLS
• 2026-05-22 Listed $845,000 Hive MLS