265 Independence Blvd · Newport, NC 28570

$380,000

3 bd · 3.0 ba · 2,096 sqft · Other public records · 15 Days on market

Built 2019 0.31 ac lot $25/mo HOA ↓ 16% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 265 Independence Blvd in Heritage Pointe. Space, flexibility, and convenience come together. This 3 bedroom, 2.5 bath home offers a thoughtful layout with two additional flex rooms, perfect for a home office, formal dining space, playroom, or even a home gym. Constructed by JC Jackson homes in 2019. The main living areas feature LVP flooring and a kitchen with granite countertops and stainless steel appliances. Step outside to a fully fenced backyard with an above-ground pool, ideal for enjoying Eastern North Carolina summers. Located just 12 miles from Atlantic Beach and only 7 miles to Cherry Point, this home offers an easy commute while still being close to the coast, shop

Key facts

• 0.31 acre lot
• 2 garage spots
• Pool

Property features AI

Finance

• Other: Private road frontage; Lot dimensions approximately 175 x 168 x 157 (0.31 acres); Subdivision: Heritage Pointe; Directions: Hwy 70 to Masontown Road, then turn on Independence Blvd.
• HOA & community: Homeowners association with $300 annual fee (approximately $25/month)

Exterior

• Parking: Attached 2-car garage; Total 2 parking spaces; Concrete parking surfaces
• Utilities: Public water; Public sewer; Natural gas connected; Underground utilities
• Home design: Single-family residence; One level / 1 story; Entry level 1; Residential zoning
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built with modern materials
• Exterior features: Rear porch; Wood fencing; Above-ground pool; Has view; Sidewalks (community)

Interior

• Kitchen: Refrigerator; Dishwasher; Electric range; Microwave; Kitchen island; Pantry
• Bedrooms: Master downstairs
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom; Accessible full bathroom
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Master suite on main level; Walk-in closet(s); High ceilings; Kitchen island; Ceiling fan(s); Pantry; Unfurnished
• Laundry & utility: Washer hookup; Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $380k.

Deal economics

• At list price, monthly cash flow is $7k ($86k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $380k).
• Recommended offer: $374k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#385 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Carteret County Public Schools (rural): math 59% / reading 61% proficiency, ranked #31 of 178 in NC (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Newport Elementary (math 48% / reading 45%, grade D-, #542 of 1,410 statewide, top 39%, 645 students, 100% FRL); Newport Middle (math 39% / reading 56%, grade C-, #140 of 475 statewide, top 30%, 378 students, 98% FRL); West Carteret High (math 82% / reading 71%, grade A-, #89 of 535 statewide, top 16%, 1,146 students, 40% FRL) — zoned schools average 79% FRL vs 39% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 216 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).
• At $12,410/mo this rent would consume 212% of the median local household income ($70k/yr) (locally 461% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Carteret County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $106k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($374k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $374,300 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.27% ✓
• Cap rate: 28.88%
• Cash-on-cash: 80.67%
• DSCR: 4.59
• GRM: 2.6

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: 80.9%
• Equity multiple: 4.70×
• Total profit: $394,184
• Equity at exit: $56,659

10-year hold

• IRR: 84.3%
• Equity multiple: 9.75×
• Total profit: $930,675
• Equity at exit: $32,855

Cash invested: $106,400 (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 28570

• Home prices YoY: -16.2%
• Active inventory: 216
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $12,410 medium
• Mortgage (P&I): −$1,993
• Tax est. 1.5%: −$475 /mo · $5,700/yr
• Insurance: −$158
• HOA: −$25
• Vacancy / Maint / Mgmt: −$2,606
• Net cashflow: $7,153

Break-even live

Break-even rent $3,356

Max offer price $380,000

Occupancy floor 37%

Sensitivity live

Price	-10% $7,415	-5% $7,284	+0% $7,153	+5% $7,021	+10% $6,890
Rent	-10% $6,172	-5% $6,662	+0% $7,153	+5% $7,643	+10% $8,133
Rate	-1.0pp $7,344	-0.5pp $7,249	base $7,153	+0.5pp $7,054	+1.0pp $6,954

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: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $25 · $300/yr
• Likely covers: poolgym

Listing history 12 events

1. 2026-06-19
   days on market $380,000 Active 15 DOM
2. 2026-06-18
   days on market $380,000 Active 14 DOM
3. 2026-06-17
   days on market $380,000 Active 13 DOM
4. 2026-06-16
   days on market $380,000 Active 12 DOM
5. 2026-06-15
   days on market $380,000 Active 11 DOM
6. 2026-06-14
   days on market $380,000 Active 9 DOM
7. 2026-06-12
   days on market $380,000 Active 8 DOM
8. 2026-06-09
   days on market $380,000 Active 5 DOM
9. 2026-06-08
   days on market $380,000 Active 4 DOM
10. 2026-06-07
    days on market $380,000 Active 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $380,000 Active 1 DOM

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $148,918
• − Mortgage interest: −$21,286
• − Property taxes: −$5,700
• − Insurance: −$1,900
• − Repairs & maintenance: −$11,913
• − Management: −$11,913
• − HOA: −$300
• − Depreciation: −$11,055
• Taxable income: $84,851
• Est. tax owed @ 24.0%: −$20,364
• After-tax cash flow: $65,468/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: Carteret County Public Schools
• NCES district ID: 3700630
• Math proficiency: 59% ▲ 5.00%
• Reading proficiency: 61% ▲ 2.00%
• Median HH income: $48,330
• Composite: 50.92/100
• National rank: #1786
• State rank: #31 of 178 in NC

Livability — Newport

• Score: 63/100
• State rank: #385
• US rank: #15094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport, NC
• County: Carteret County · 52,389 people
• City population: 22,197
• Metro: Morehead City, NC
• Population (ZIP): 22,197
• Household income: $70,229
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 461.0

Population outlook (Carteret County) Hauer SSP2

• Today (2025): 73,443 people
• By 2030: 75,344 · +2.6%
• By 2040: 78,142 · +6.4%
• By 2050: 80,091 · +9.1%
• By 2075: 86,120 · +17.3%
• By 2100: 89,408 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Carteret

• 2024 margin: Solid R (+43.1) · D 28.0% · R 71.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -34.7pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+42.0 2016: R+44.5 2012: R+41.0 2008: R+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.54%
• Current HPI: 276.6589
• Rent YoY: —
• Metro: Morehead City, 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

-15.6% since first listed

2 events — show timeline

• 2026-06-04 Listed $380,000 Hive MLS
• 2019-08-13 Sold (Public Records) $450,000 Public Records

Property tax history

+36.2%/yr

Latest (2025): $741 · -6.2% YoY. Source: county tax records.