838 Pantego Blvd SE · Oak Island, NC 28422

$336,900

4 bd · 2.5 ba · 2,131 sqft · Land · 825 Days on market

Built 2025 8,276 sqft lot $82/mo HOA · 3% of rent

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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
• Cash flow +6.6/30.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

New Construction Home in the tranquility of Mill Creek Cove. Just 15 minutes from the beautiful Brunswick beaches. This 2131 floorplan is an amazing open floor plan that is a well design two-story home. With 4 bedrooms and 2.5 baths, this home has ample space to celebrate life's memories. The spacious kitchen offers stainless steel appliance with gray cabinets, white kitchen backsplash with a beautiful granite countertop. With gorgeous silver shadow waterproof laminate flooring throughout the living spaces downstairs. Upstairs, you'll find the luxurious master suite, complete with a spacious bedroom, a walk-in closet, and a private master bath. Three additional well size bedrooms, a full ba

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• HOA & community: Homeowners association with annual fee ($988 per year; about $82.33/month); Community pool; Clubhouse; Fitness center; Tennis courts

Exterior

• Parking: Attached 2-car garage; 2 total parking spaces
• Utilities: Public water; Sewer available; Water available
• Home design: Single family residence; Two levels; Raised foundation; Irregular lot shape; Paved road access; Zoned R75; Located in the Mill Creek Cove subdivision
• Construction: Stone, vinyl siding, and frame construction; Raised foundation
• Exterior features: Patio; Shingle roof; No fencing; Has view; New construction

Interior

• Kitchen: Electric oven; Dishwasher; Microwave
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; Accessible full bath
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Walk-in closets; High ceilings; Kitchen island; Ceiling fans; Pantry
• Laundry & utility: Laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $337k.

Deal economics

• At list price, monthly cash flow is $-983 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (42.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (30.3% below list).
• Recommended offer: $195k (42.2% below list) — sets the bar for cash-flow.
• Cap rate 4.3% vs local median 2.8% in Oak Island — 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 67/100 on livability (#233 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, 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: Virginia Williamson Elem (math 50% / reading 49%, grade D, #417 of 1,410 statewide, top 32%, 502 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 students, 100% FRL) — zoned schools average 99% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 575 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 41% of the median local income ($69k/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 $10k 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 825 days — a 12% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major 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 $194,705 (42.2% 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 825 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.70% ✗
• Cap rate: 4.31%
• Cash-on-cash: -7.07%
• DSCR: 0.69
• GRM: 12.0

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: -39.3%
• Equity multiple: -0.24×
• Total profit: $-116,831
• Equity at exit: $50,233

10-year hold

• IRR: -59.8%
• Equity multiple: -0.92×
• Total profit: $-180,912
• Equity at exit: $29,129

Cash invested: $94,332 (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 28422

• Home prices YoY: -23.8%
• Active inventory: 575
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,347 high
• Mortgage (P&I): −$1,767
• Tax est. 1.5%: −$421 /mo · $5,054/yr
• Insurance: −$140
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$82
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-983

Break-even live

Break-even rent $3,591

Max offer price $194,705

Occupancy floor —

Sensitivity live

Price	-10% $-750	-5% $-866	+0% $-983	+5% $-1,099	+10% $-1,215
Rent	-10% $-1,168	-5% $-1,075	+0% $-983	+5% $-890	+10% $-797
Rate	-1.0pp $-813	-0.5pp $-897	base $-983	+0.5pp $-1,070	+1.0pp $-1,159

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: $84,225
• Closing costs: $10,107
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2502 Kenton Ct SE Bolivia, NC	4.0	2.0	1601	$1,895	$1.18	25d	1	0.19mi
756 Pantego Blvd SE Bolivia, NC	3.0	2.0	1506	$2,100	$1.39	25d	1	0.27mi
2537 Provence Dr SE Bolivia, NC	4.0	2.0	1607	$1,895	$1.18	25d	1	0.40mi
2617 Provence Dr SE Bolivia, NC	4.0	2.0	1776	$1,920	$1.08	25d	1	0.40mi
2140 Bella Point Dr SE Bolivia, NC	4.0	2.0	1774	$2,300	$1.30	25d	1	1.47mi

HOA detail

• Monthly dues: $82 · $984/yr
• Likely covers: water

Listing history 16 events

1. 2026-05-01
   status Pending
2. 2026-03-26
   status Active
3. 2026-03-26
   historical
4. 2026-03-20
   price $336,900
5. 2025-12-27
   status Active
6. 2025-12-16
   historical
7. 2025-10-13
   price $351,900
8. 2024-11-20
   price $366,900
9. 2024-09-04
   price $360,900
10. 2024-06-09
    price $357,900
11. 2024-04-21
    price $352,900
12. 2024-01-16
    listed $342,900 Active
13. 2023-10-06
    soldstatus $793,000
14. 2019-09-23
    soldstatus $2,382,500
15. 2017-01-19
    soldstatus $3,200,000
16. 2013-03-19
    soldstatus $1,267,500

ⓘ 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 5/10 Major FEMA zone AE · 38% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°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: $28,164
• − Mortgage interest: −$18,872
• − Property taxes: −$5,054
• − Insurance: −$6,803
• − Repairs & maintenance: −$2,253
• − Management: −$2,253
• − HOA: −$984
• − Depreciation: −$9,801
• Taxable loss: −$17,855
• Est. tax savings @ 24.0%: +$4,285
• After-tax cash flow: $-7,507/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 — Oak Island

• Score: 67/100
• State rank: #233
• US rank: #10757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 8,756
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 10,059
• Household income: $69,412
• Rent vs Own: 13.7% rent · 86.3% own
• Severe rent burden: 243.0

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 (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 8% Hispanic / Latino 3% Native American 1%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -44.19%
• Current HPI: 141.1956
• 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

-73.4% since first listed

16 events — show timeline

• 2026-05-01 Pending — Hive MLS
• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-03-20 Price Changed $336,900 Hive MLS
• 2025-12-27 Relisted — Hive MLS
• 2025-12-16 Listing Removed — Hive MLS
• 2025-10-13 Price Changed $351,900 Hive MLS
• 2024-11-20 Price Changed $366,900 Hive MLS
• 2024-09-04 Price Changed $360,900 Hive MLS
• 2024-06-09 Price Changed $357,900 Hive MLS
• 2024-04-21 Price Changed $352,900 Hive MLS
• 2024-01-16 Listed $342,900 Hive MLS
• 2023-10-06 Sold (Public Records) $793,000 Public Records
• 2019-09-23 Sold (Public Records) $2,382,500 Public Records
• 2017-01-19 Sold (Public Records) $3,200,000 Public Records
• 2013-03-19 Sold (Public Records) $1,267,500 Public Records

Property tax history

+8.6%/yr

Latest (2025): $99 · +0.0% YoY. Source: county tax records.