116 Myrtle Ave · Kure Beach, NC 28449

$830,000

3 bd · 2.0 ba · 2,353 sqft · SingleFamily public records · 585 Days on market

Built 1987 Good condition 9,365 sqft lot 2-car garage $353/sqft · at area comps Est $869k · at est.

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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 +9.5/15.0
• Schools +5.8/10.0
• Cash flow +4.6/30.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Motivated seller! Looking for a large lot with no flood insurance requirement in Kure Beach, NC? Nestled in a prime location just one block away from the ocean, this fully furnished brick rancher is not just a home; it's an investment opportunity you won't want to miss. Step inside to discover a spacious layout designed for both relaxation and entertainment. With three bedrooms, each boasting its own bath, everyone can enjoy their own space and privacy. The expansive family room is perfect for gatherings, whether it's game nights with friends or cozy movie marathons with the family. But the real highlight? Step out onto the sprawling back deck and immerse yourself in outdoor bliss.

Key facts

• Large lot
• Sprawling back deck
• Outdoor shower

Tags

• LARGE LOT
• NO FLOOD INSURANCE REQUIREMENT
• PRIME LOCATION
• SPRAWLING BACK DECK
• OUTDOOR SHOWER
• TWO CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $830k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $457k (44.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $357k (57.0% below list).
• Recommended offer: $357k (57.0% below list) — sets the bar for 1% rule.
• Cap rate 3.2% vs local median 1.7% 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: 99 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).
• This rent runs 40% of the median local income ($107k/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 $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.

Negotiation context

• It's been on market 585 days — a 12% lower offer ($730k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $45k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $122k; list at $830k implies a 583% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $357,265 (57.0% 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 585 days. Have you received any prior offers? Is the seller open to a 57% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.43% ✗
• Cap rate: 3.24%
• Cash-on-cash: -10.89%
• DSCR: 0.52
• GRM: 19.4

CMA / ARV

• ARV (median comp): $868,641
• List price: $830,000
• Delta: -4.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Leeward Ct	0.10mi	3/3.5	2,248 (-4%)	1mo	$922,000	$410	81
1607 Pinfish Ln	0.31mi	4/3.0 (+1)	2,420 (+3%)	1mo	$840,000	$347	71
737 Fort Fisher Blvd N	0.18mi	4/3.0 (+1)	2,176 (-8%)	5mo	$880,000	$404	66
1615 Bonito Ln	0.23mi	4/3.0 (+1)	2,506 (+6%)	6mo	$990,000	$395	65
804 Texas Ave	0.41mi	4/2.5 (+1)	2,480 (+5%)	2mo	$967,090	$390	63
753 Sailor Ct	0.24mi	4/3.0 (+1)	2,048 (-13%)	6mo	$760,000	$371	53
1725 Spot Ln	0.29mi	4/3.5 (+1)	2,603 (+11%)	6mo	$928,750	$357	52
1413 Croaker Ln	0.56mi	3/3.0	2,134 (-9%)	3mo	$940,000	$440	52
205 Tennessee Ave	0.74mi	4/4.0 (+1)	2,316 (-2%)	2mo	$1,250,000	$540	49
1411 Spot Ln	0.55mi	4/3.0 (+1)	2,153 (-8%)	3mo	$1,100,000	$511	49
1225 Pinfish Ln	0.74mi	4/3.0 (+1)	2,449 (+4%)	6mo	$950,000	$388	44
802 Ocean Blvd	0.60mi	4/3.0 (+1)	2,065 (-12%)	4mo	$950,000	$460	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: -36.2%
• Equity multiple: -0.16×
• Total profit: $-269,304
• Equity at exit: $123,756

10-year hold

• IRR: -50.8%
• Equity multiple: -0.76×
• Total profit: $-409,314
• Equity at exit: $71,763

Cash invested: $232,400 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 16 active · 21 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $1,022,450 ($388/sqft)
• Median days on market: 72 d
• This list price: 19% of active listings are priced below it
• ARV vs active asking: -4.9% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28449

• Active inventory: 99
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $3,573 high
• Mortgage (P&I): −$4,353
• Tax from tax record: −$234 /mo · $2,804/yr
• Insurance: −$346
• HOA: −$0
• Vacancy / Maint / Mgmt: −$750
• Net cashflow: $-2,110

Break-even live

Break-even rent $6,243

Max offer price $457,311

Occupancy floor —

Sensitivity live

Price	-10% $-1,640	-5% $-1,875	+0% $-2,110	+5% $-2,345	+10% $-2,580
Rent	-10% $-2,392	-5% $-2,251	+0% $-2,110	+5% $-1,969	+10% $-1,827
Rate	-1.0pp $-1,692	-0.5pp $-1,899	base $-2,110	+0.5pp $-2,325	+1.0pp $-2,544

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: $207,500
• Closing costs: $24,900
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Dow AVE Kure Beach, NC	4.0	3.5	2143	$3,700	$1.73	6d	1	0.10mi
1622 Swordfish Ln #1 Carolina Beach, NC	4.0	3.5	2476	$24,000	$9.69	116d	1	0.19mi
1513 Swordfish Ln #2 Carolina Beach, NC	4.0	3.0	2058	$3,150	$1.53	6d	1	0.33mi
1416 Snapper Ln Carolina Beach, NC	4.0	4.0	2090	$3,800	$1.82	6d	1	0.44mi
205 N Ave Kure Beach, NC	4.0	4.0	1920	$3,200	$1.67	6d	1	0.65mi
500 North Carolina Ave #2 Carolina Beach, NC	4.0	4.0	1971	$3,800	$1.93	0d	1	0.65mi
1210 Mackerel Ln Carolina Beach, NC	4.0	4.0	1974	$3,400	$1.72	6d	1	0.72mi
103 Carolina Sands Dr Carolina Beach, NC	4.0	2.0	1900	$4,500	$2.37	6d	1	0.88mi
501 Greenville Ave #1 Carolina Beach, NC	3.0	3.5	2069	$3,150	$1.52	6d	1	1.01mi
501 Greenville Ave #1 Carolina Beach, NC	3.0	3.5	2069	$3,150	$1.52	0d	1	1.01mi
208 Spartanburg Ave Carolina Beach, NC	4.0	2.5	1992	$3,800	$1.91	6d	1	1.05mi
210 H Ave Kure Beach, NC	4.0	2.0	1760	$3,250	$1.85	6d	1	1.27mi
305 Lake Park Blvd S #106 Carolina Beach, NC	3.0	3.5	1885	$3,150	$1.67	6d	1	1.38mi

Property features AI

Finance

• HOA & community: Community offers beach access

Exterior

• Parking: Attached 2-car garageTwo additional off-street/on-site open parking spacesConcrete parking surfaces
• Security: Security systemSmoke detectors
• Utilities: Public waterSewer available
• Home design: Single-family residential propertyOne level
• Construction: Brick, vinyl siding and frame constructionBrick/mortar foundationShingle roofBuilt using typical residential construction materials
• Exterior features: Deck and porchChain link fencing around the backyardWorkshop on the propertyPaved road frontage on city street and state road

Interior

• Kitchen: RefrigeratorRangeDishwasherDisposalFreezerElectric water heater
• Bedrooms: Bedrooms included (room level not specified)
• Flooring: CarpetLaminateTileWood
• Bathrooms: Three full bathroomsAccessible full bathroom
• Heating & cooling: Heat pump heatingElectric and forced-air heatingCentral air conditioningHeat pump cooling
• Interior features: Master suite on the main levelCeiling fansShutters and window coveringsFurnished
• Laundry & utility: Washer and dryer includedWasher hookupLaundry located in hall or closet

Listing history 50 events

1. 2026-09-24
   days on market $830,000 Active 585 DOM
2. 2026-09-22
   days on market $830,000 Active 584 DOM
3. 2026-09-21
   days on market $830,000 Active 583 DOM
4. 2026-09-20
   days on market $830,000 Active 582 DOM
5. 2026-09-19
   days on market $830,000 Active 581 DOM
6. 2026-09-18
   days on market $830,000 Active 580 DOM
7. 2026-09-17
   days on market $830,000 Active 579 DOM
8. 2026-09-16
   days on market $830,000 Active 578 DOM
9. 2026-09-15
   days on market $830,000 Active 577 DOM
10. 2026-09-14
    days on market $830,000 Active 576 DOM
11. 2026-09-13
    days on market $830,000 Active 575 DOM
12. 2026-09-12
    days on market $830,000 Active 574 DOM
13. 2026-09-11
    days on market $830,000 Active 573 DOM
14. 2026-09-05
    days on market $830,000 Active 567 DOM
15. 2026-09-04
    days on market $830,000 Active 566 DOM
16. 2026-09-03
    days on market $830,000 Active 565 DOM
17. 2026-08-31
    days on market $830,000 Active 562 DOM
18. 2026-08-30
    days on market $830,000 Active 561 DOM
19. 2026-08-29
    days on market $830,000 Active 560 DOM
20. 2026-08-28
    days on market $830,000 Active 559 DOM
21. 2026-08-27
    days on market $830,000 Active 558 DOM
22. 2026-08-25
    days on market $830,000 Active 556 DOM
23. 2026-08-24
    days on market $830,000 Active 555 DOM
24. 2026-08-23
    days on market $830,000 Active 554 DOM
25. 2026-08-22
    days on market $830,000 Active 553 DOM
26. 2026-08-21
    days on market $830,000 Active 552 DOM
27. 2026-08-20
    days on market $830,000 Active 551 DOM
28. 2026-08-19
    days on market $830,000 Active 550 DOM
29. 2026-08-18
    days on market $830,000 Active 549 DOM
30. 2026-08-17
    days on market $830,000 Active 548 DOM
31. 2026-08-16
    days on market $830,000 Active 547 DOM
32. 2026-08-15
    days on market $830,000 Active 546 DOM
33. 2026-08-14
    days on market $830,000 Active 545 DOM
34. 2026-08-13
    days on market $830,000 Active 544 DOM
35. 2026-08-12
    days on market $830,000 Active 543 DOM
36. 2026-08-11
    days on market $830,000 Active 542 DOM
37. 2026-08-10
    days on market $830,000 Active 541 DOM
38. 2026-08-09
    days on market $830,000 Active 540 DOM
39. 2026-08-08
    days on market $830,000 Active 539 DOM
40. 2026-08-07
    days on market $830,000 Active 538 DOM
41. 2026-08-06
    days on market $830,000 Active 537 DOM
42. 2026-08-05
    days on market $830,000 Active 536 DOM
43. 2026-08-04
    days on market $830,000 Active 535 DOM
44. 2026-08-03
    days on market $830,000 Active 534 DOM
45. 2026-07-31
    days on market $830,000 Active 531 DOM
46. 2026-07-30
    days on market $830,000 Active 530 DOM
47. 2026-07-29
    days on market $830,000 Active 529 DOM
48. 2026-07-27
    days on market $830,000 Active 527 DOM
49. 2026-07-25
    days on market $830,000 Active 525 DOM
50. 2026-07-24
    days on market $830,000 Active 524 DOM

ⓘ 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: $2,804 · $234/mo
• Projected year-2 tax: $6,806 · $567/mo
• Expected delta: +$4,002/yr (+$334/mo · 142.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 70% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 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: $42,872
• − Mortgage interest: −$46,493
• − Property taxes: −$2,804
• − Insurance: −$4,150
• − Repairs & maintenance: −$3,430
• − Management: −$3,430
• − Depreciation: −$24,145
• Taxable loss: −$41,580
• Est. tax savings @ 24.0%: +$9,979
• After-tax cash flow: $-15,337/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 · 9 photos

Good 80/100 Cosmetic rehab Est. rehab $11,765–$35,295 screening

This fully furnished brick rancher in Kure Beach, NC, is in good condition with minimal repairs needed. It offers a spacious layout and prime location just one block from the ocean, making it an excellent investment opportunity.

Components & finishes AI

Roof asphalt shingle · good

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and adds value. ↑
• Both Clean gutters — Improves drainage and adds to overall appearance. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 58/100

Zoned Schools

Elementary Carolina Beach Elementary C+ NC #249/1,410 Nat'l #8,534/41,679 Middle Charles P Murray Middle B NC #54/475 Nat'l #1,951/14,009 High Eugene Ashley High C NC #243/535 Nat'l #3,986/17,239

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

C Composite livability gradescore 65/100

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
• County: New Hanover · 259,517 people
• Metro: Wilmington, NC
• Population (ZIP): 2,017
• Household income: $106,518
• Rent vs Own: 22.5% rent · 77.5% own
• Severe rent burden: 3% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• HOA & community: Community offers beach access

Exterior

• Parking: Attached 2-car garageTwo additional off-street/on-site open parking spacesConcrete parking surfaces
• Security: Security systemSmoke detectors
• Utilities: Public waterSewer available
• Home design: Single-family residential propertyOne level
• Construction: Brick, vinyl siding and frame constructionBrick/mortar foundationShingle roofBuilt using typical residential construction materials
• Exterior features: Deck and porchChain link fencing around the backyardWorkshop on the propertyPaved road frontage on city street and state road

Interior

• Kitchen: RefrigeratorRangeDishwasherDisposalFreezerElectric water heater
• Bedrooms: Bedrooms included (room level not specified)
• Flooring: CarpetLaminateTileWood
• Bathrooms: Three full bathroomsAccessible full bathroom
• Heating & cooling: Heat pump heatingElectric and forced-air heatingCentral air conditioningHeat pump cooling
• Interior features: Master suite on the main levelCeiling fansShutters and window coveringsFurnished
• Laundry & utility: Washer and dryer includedWasher hookupLaundry located in hall or closet

Price history

+587.2% since first listed

25 events — show timeline

• 2025-12-29 Price Changed $835,000 Hive MLS
• 2025-11-25 Price Changed $840,000 Hive MLS
• 2025-10-09 Price Changed $850,000 Hive MLS
• 2025-09-25 Price Changed $855,000 Hive MLS
• 2025-08-26 Price Changed $860,000 Hive MLS
• 2025-08-07 Price Changed $865,000 Hive MLS
• 2025-05-19 Price Changed $872,000 Hive MLS
• 2025-04-10 Price Changed $873,000 Hive MLS
• 2025-03-19 Price Changed $874,000 Hive MLS
• 2025-02-14 Listed $875,000 Hive MLS
• 2024-11-15 Listing Removed — Hive MLS
• 2024-09-01 Relisted — Hive MLS
• 2024-08-31 Listing Removed — Hive MLS
• 2024-06-27 Price Changed $875,000 Hive MLS
• 2024-04-21 Price Changed $885,000 Hive MLS
• 2024-04-15 Price Changed $930,000 Hive MLS
• 2024-03-26 Price Changed $940,000 Hive MLS
• 2024-02-21 Listed $950,000 Hive MLS
• 2023-12-28 Listing Removed — Hive MLS
• 2023-08-20 Price Changed $950,000 Hive MLS
• 2023-07-31 Price Changed $1,000,000 Hive MLS
• 2023-07-10 Price Changed $1,100,000 Hive MLS
• 2023-07-03 Price Changed $1,200,000 Hive MLS
• 2023-06-23 Listed $1,300,000 Hive MLS
• 2004-10-01 Sold (Public Records) $121,500 Public Records

Property tax history

+0.4%/yr

Latest (2025): $2,804 · -32.8% YoY. Source: county tax records.