103 Quarterhorse Ln · Piney Green, NC 28546

$260,000

3 bd · 2.0 ba · 1,467 sqft · SingleFamily public records · 43 Days on market

Built 1994 0.28 ac lot Est $274k · 5% under

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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 +12.2/30.0
• ARV discount +9.9/15.0
• Schools +3.9/10.0
• DSCR +3.6/10.0
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This tranquil 4 bedroom, 2 full bath, 1 car garage home is a dream come true! The home features a large living room with a wood burning fireplace that would be perfect on cold winter nights. Home has a big storage shed out back for storage or a work shop. Step out back to a patio that would be perfect for grilling!

Key facts

• Spacious backyard
• Storage shed
• Fire pit

Tags

• WOOD BURNING FIREPLACE
• SPACIOUS BACKYARD
• FIRE PIT
• STORAGE SHED
• PLENTY OF STORAGE AREA

Property features AI

Exterior

• Parking: Attached garage (1-car); Paved parking; Total 1 parking space
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single family residence; One-level / single-story; Entry level: 1st floor; Located in a cul-de-sac
• Construction: Vinyl siding with frame construction; Shingle roof; Slab foundation; Built on one level
• Exterior features: Covered front porch; Shed(s); Has a view

Interior

• Kitchen: Electric oven; Cooktop; Dishwasher
• Bedrooms: Total rooms: 8
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Fireplace(s); Electric heating; Cooling via heat pump
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-53 ($-635/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (26.4% below list).
• Recommended offer: $191k (26.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.6% in Piney Green — 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 60/100 on livability (#524 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, amenities F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Heritage Elementary School (math 45% / reading 47%, grade D-, #551 of 1,410 statewide, top 40%, 541 students, 53% FRL); Hunters Creek Middle (math 32% / reading 44%, grade F, #251 of 475 statewide, top 54%, 922 students, 55% FRL); White Oak High (math 57% / reading 54%, grade C, #265 of 535 statewide, top 50%, 1,207 students, 49% FRL) — zoned schools average 52% FRL vs 37% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.9%/yr); 612 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($64k/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 $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $197k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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 $191,391 (26.4% 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 43 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.74% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $274,329
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 Running Rd	0.21mi	4/2.0 (+1)	1,461 (-0%)	1mo	$255,000	$175	84
207 Chaparral Trl	0.18mi	4/2.0 (+1)	1,426 (-3%)	2mo	$220,000	$154	81
342 Palamino Trl	0.26mi	4/2.0 (+1)	1,538 (+5%)	1mo	$269,900	$175	74
300 Brookstone Way	0.35mi	4/2.0 (+1)	1,416 (-4%)	1mo	$245,000	$173	72
103 Lariat Ln	0.30mi	4/2.0 (+1)	1,538 (+5%)	2mo	$265,000	$172	71
413 Stones Throw Ct	0.67mi	3/2.0	1,463 (-0%)	2mo	$296,000	$202	66
113 Sparkling Brook Way	0.33mi	3/2.0	1,630 (+11%)	1mo	$310,000	$190	65
108 Stony Brook Way	0.68mi	3/2.0	1,514 (+3%)	3mo	$299,000	$197	60
295 Brookstone Way	0.43mi	4/2.0 (+1)	1,582 (+8%)	4mo	$296,000	$187	59
106 S S. Sea St	0.74mi	3/2.0	1,555 (+6%)	1mo	$305,000	$196	55
106 Cobalt Stream Ct	0.55mi	4/2.0 (+1)	1,600 (+9%)	3mo	$281,500	$176	52
117 Heavens Gate Dr	0.74mi	3/2.0	1,304 (-11%)	2mo	$257,400	$197	45

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 · 3.86% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-43,943
• Equity at exit: $38,767

10-year hold

• IRR: -7.6%
• Equity multiple: 0.50×
• Total profit: $-36,089
• Equity at exit: $22,480

Cash invested: $72,800 (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 28546

• Home prices YoY: -19.3%
• Rents YoY: 3.9%
• Active inventory: 612
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,914 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$93 /mo · $1,117/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-53

Break-even live

Break-even rent $1,981

Max offer price $250,658

Occupancy floor 98%

Sensitivity live

Price	-10% $94	-5% $21	+0% $-53	+5% $-126	+10% $-200
Rent	-10% $-204	-5% $-128	+0% $-53	+5% $23	+10% $98
Rate	-1.0pp $78	-0.5pp $13	base $-53	+0.5pp $-120	+1.0pp $-189

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 White Stone Ct Jacksonville, NC	4.0	2.0	1460	$2,150	$1.47	23d	1	0.73mi
303 Elk Ct Jacksonville, NC	3.0	2.5	1716	$2,000	$1.17	15d	1	1.41mi

Listing history 15 events

1. 2026-06-07
   statusdays on market $260,000 Pending 43 DOM
2. 2026-06-03
   days on market $260,000 Active 40 DOM
3. 2026-06-02
   days on market $260,000 Active 39 DOM
4. 2026-06-01
   days on market $260,000 Active 38 DOM
5. 2026-05-31
   days on market $260,000 Active 37 DOM
6. 2026-05-30
   days on market $260,000 Active 36 DOM
7. 2026-04-24
   listed $260,000 Active
8. 2022-04-07
   soldstatus $197,000 Closed 316-char remark

   Show marketing remark (316 chars)

   This tranquil 4 bedroom, 2 full bath, 1 car garage home is a dream come true! The home features a large living room with a wood burning fireplace that would be perfect on cold winter nights. Home has a big storage shed out back for storage or a work shop. Step out back to a patio that would be perfect for grilling!

9. 2022-04-07
   soldstatus $197,000

   Show marketing remark (316 chars)

   This tranquil 4 bedroom, 2 full bath, 1 car garage home is a dream come true! The home features a large living room with a wood burning fireplace that would be perfect on cold winter nights. Home has a big storage shed out back for storage or a work shop. Step out back to a patio that would be perfect for grilling!

10. 2022-01-20
    historical 316-char remark

    Show marketing remark (316 chars)

    This tranquil 4 bedroom, 2 full bath, 1 car garage home is a dream come true! The home features a large living room with a wood burning fireplace that would be perfect on cold winter nights. Home has a big storage shed out back for storage or a work shop. Step out back to a patio that would be perfect for grilling!

11. 2022-01-19
    listed $197,000 316-char remark

    Show marketing remark (316 chars)

    This tranquil 4 bedroom, 2 full bath, 1 car garage home is a dream come true! The home features a large living room with a wood burning fireplace that would be perfect on cold winter nights. Home has a big storage shed out back for storage or a work shop. Step out back to a patio that would be perfect for grilling!

12. 2019-09-19
    historical
13. 2019-06-25
    listed $160,948
14. 2010-04-30
    soldstatus $159,000
15. 2005-03-11
    soldstatus $107,000

ⓘ 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: $1,117 · $93/mo
• Projected year-2 tax: $2,132 · $178/mo
• Expected delta: +$1,015/yr (+$85/mo · 90.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,967
• − Mortgage interest: −$14,564
• − Property taxes: −$1,117
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,837
• − Management: −$1,837
• − Depreciation: −$7,564
• Taxable loss: −$5,252
• Est. tax savings @ 24.0%: +$1,261
• After-tax cash flow: $626/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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Piney Green

• Score: 60/100
• State rank: #524
• US rank: #19401

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piney Green, NC
• County: Onslow County · 164,453 people
• Metro: Jacksonville, NC
• Population (ZIP): 47,256
• Household income: $63,561
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1830.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 18% Hispanic / Latino 16% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 1% Serbian 1% Slovak 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.75%
• Current HPI: 211.9993
• Rent YoY: ▲ 3.86%
• Metro: Jacksonville, 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

+143.0% since first listed

9 events — show timeline

• 2026-04-24 Listed $260,000 Hive MLS
• 2022-04-07 Sold (Public Records) $197,000 Public Records
• 2022-04-07 Sold (MLS) $197,000 Hive MLS
• 2022-01-20 Listing Removed — Hive MLS
• 2022-01-19 Listed $197,000 Hive MLS
• 2019-09-19 Listing Removed — Hive MLS
• 2019-06-25 Listed $160,948 Hive MLS
• 2010-04-30 Sold (Public Records) $159,000 Public Records
• 2005-03-11 Sold (Public Records) $107,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $1,117 · +0.0% YoY. Source: county tax records.