432 Lanyard Dr · Newport, NC 28570

$749,900

4 bd · 4.0 ba · 2,589 sqft · SingleFamily public records · 139 Days on market

Built 2018 Good condition 0.31 ac lot 2-car garage $290/sqft · 11% below area Est $928k · 19% under · waterfront $161/mo HOA · 1% of rent

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Why this score? — see what drove the A- 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 +7.0/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The ''Eliot'' plan, by Streamline Developers, is a winner! Beautiful home on a fantastic lot, with estuary views and water views from the porch, will be ready soon. This home features the primary bedroom and guest suite downstairs, with 2 additional bedrooms, plus bonus, plus unfinished FROG upstairs. Open concept living and functional floor plan makes this a popular plan! Community amenities include playground, kayak launch, boat ramp, observation pier, fish cleaning station, pool, bath house and gated entrance. Centrally located between both military bases and desirable schools! Act fast! This one won't last long!

Key facts

• 0.31 acre lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $750k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $7k ($81k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $750k).
• Recommended offer: $660k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 28.3% in Newport — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Bogue Sound Elementary (math 63% / reading 63%, grade B, #168 of 1,410 statewide, top 12%, 467 students, 99% FRL); Broad Creek Middle (math 63% / reading 68%, grade A-, #28 of 475 statewide, top 6%, 710 students, 100% FRL); Croatan High (math 82% / reading 78%, grade A, #73 of 535 statewide, top 13%, 974 students, 26% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 321 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k 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 $210k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $40k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $395k; list at $750k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $659,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.92% ✓
• Cap rate: 17.19%
• Cash-on-cash: 38.91%
• DSCR: 2.73
• GRM: 4.3

CMA / ARV

• ARV (median comp): $928,207
• List price: $749,900
• Delta: -19.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 Seafarer St	0.33mi	4/3.5	2,571 (-1%)	4mo	$640,000	$249	78
102 Hardwick Ln	0.42mi	4/3.0	2,608 (+1%)	2mo	$735,000	$282	73
422 Lanyard Dr	0.07mi	5/3.0 (+1)	2,793 (+8%)	4mo	$685,000	$245	71
102 Bogue Harbor Ct	0.37mi	4/3.5	2,392 (-8%)	6mo	$570,000	$238	64
213 Bogue Carrier Ct	0.47mi	4/3.0	2,720 (+5%)	4mo	$670,000	$246	63
110 Bogue Harbor Ct	0.42mi	4/3.5	2,369 (-8%)	4mo	$669,500	$283	61
205 Cumberland St	0.57mi	3/3.5 (-1)	2,556 (-1%)	5mo	$750,000	$293	60
609 Cannonsgate Dr	0.36mi	4/3.5	2,887 (+12%)	3mo	$899,900	$312	60
658 Fishermans Pt	0.57mi	4/3.5	2,772 (+7%)	3mo	$650,000	$234	58
233 Cumberland St	0.64mi	3/3.5 (-1)	2,533 (-2%)	5mo	$750,000	$296	56
210 Cumberland St	0.61mi	4/3.5	2,778 (+7%)	7mo	$775,000	$279	52
516 Blue Heron Dr	0.74mi	3/3.5 (-1)	2,863 (+11%)	6mo	$905,000	$316	36

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: 34.6%
• Equity multiple: 2.47×
• Total profit: $307,769
• Equity at exit: $111,813

10-year hold

• IRR: 41.5%
• Equity multiple: 4.91×
• Total profit: $820,491
• Equity at exit: $64,838

Cash invested: $209,972 (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: 12 active · 10 under contract
• Months of supply: 4.5 mo (22%/mo absorbed)
• Median asking: $787,200 ($269/sqft)
• Median days on market: 88 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +33.5% above current asking $/sqft

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

ZIP-level market 28570

• Home prices YoY: -16.2%
• Active inventory: 321
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $14,435 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$190 /mo · $2,276/yr
• Insurance: −$312
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$161
• Vacancy / Maint / Mgmt: −$3,031
• Net cashflow: $6,742

Break-even live

Break-even rent $5,901

Max offer price $749,900

Occupancy floor 48%

Sensitivity live

Price	-10% $7,166	-5% $6,954	+0% $6,742	+5% $6,530	+10% $6,317
Rent	-10% $5,601	-5% $6,172	+0% $6,742	+5% $7,312	+10% $7,882
Rate	-1.0pp $7,119	-0.5pp $6,933	base $6,742	+0.5pp $6,547	+1.0pp $6,350

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: $187,475
• Closing costs: $22,497
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Bogue Harbor Ct Newport, NC	4.0	3.0	2375	$3,500	$1.47	5d	1	0.38mi

Property features AI

Finance

• HOA & community: Homeowners association with annual fee (annually)Community amenities include pool, clubhouse, boat dock, marina, gated access, management, and playground

Exterior

• Parking: Attached 2-car garage with concrete driveway and garage door openerTotal of 2 parking spaces
• Utilities: Public waterSewer connectedWater connected
• Home design: Single-family residenceTwo-story homeEntry level: 1
• Construction: Wood siding and frame constructionShingle roofBuilt on a foundation (frame construction noted)
• Exterior features: PatioChain link fencing around backyardProperty has a view

Interior

• Kitchen: Kitchen islandPantry
• Bedrooms: Total rooms: 8
• Flooring: Carpet
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air conditioningElectric forced-air heating
• Interior features: Walk-in closet(s)Kitchen islandPantryAccessible full bathroom
• Laundry & utility: Dedicated laundry room

HOA detail $161/mo · $1,932/yr

• Likely covers: waterpoolsecurity

Listing history 50 events

1. 2026-09-24
   days on market $749,900 Active 139 DOM
2. 2026-09-22
   days on market $749,900 Active 138 DOM
3. 2026-09-20
   days on market $749,900 Active 136 DOM
4. 2026-09-19
   days on market $749,900 Active 135 DOM
5. 2026-09-18
   days on market $749,900 Active 134 DOM
6. 2026-09-17
   days on market $749,900 Active 133 DOM
7. 2026-09-16
   days on market $749,900 Active 132 DOM
8. 2026-09-15
   days on market $749,900 Active 131 DOM
9. 2026-09-14
   days on market $749,900 Active 130 DOM
10. 2026-09-13
    days on market $749,900 Active 129 DOM
11. 2026-09-12
    days on market $749,900 Active 128 DOM
12. 2026-09-11
    days on market $749,900 Active 127 DOM
13. 2026-09-05
    days on market $749,900 Active 121 DOM
14. 2026-09-04
    days on market $749,900 Active 120 DOM
15. 2026-09-03
    days on market $749,900 Active 119 DOM
16. 2026-09-02
    days on market $749,900 Active 118 DOM
17. 2026-08-30
    days on market $749,900 Active 115 DOM
18. 2026-08-29
    days on market $749,900 Active 114 DOM
19. 2026-08-28
    days on market $749,900 Active 113 DOM
20. 2026-08-27
    days on market $749,900 Active 112 DOM
21. 2026-08-26
    days on market $749,900 Active 111 DOM
22. 2026-08-25
    days on market $749,900 Active 110 DOM
23. 2026-08-24
    days on market $749,900 Active 109 DOM
24. 2026-08-23
    days on market $749,900 Active 108 DOM
25. 2026-08-22
    days on market $749,900 Active 107 DOM
26. 2026-08-21
    days on market $749,900 Active 106 DOM
27. 2026-08-20
    days on market $749,900 Active 105 DOM
28. 2026-08-19
    days on market $749,900 Active 104 DOM
29. 2026-08-18
    days on market $749,900 Active 103 DOM
30. 2026-08-17
    days on market $749,900 Active 102 DOM
31. 2026-08-16
    days on market $749,900 Active 101 DOM
32. 2026-08-15
    days on market $749,900 Active 100 DOM
33. 2026-08-14
    days on market $749,900 Active 99 DOM
34. 2026-08-13
    days on market $749,900 Active 98 DOM
35. 2026-08-12
    days on market $749,900 Active 97 DOM
36. 2026-08-11
    days on market $749,900 Active 96 DOM
37. 2026-08-10
    days on market $749,900 Active 95 DOM
38. 2026-08-09
    days on market $749,900 Active 94 DOM
39. 2026-08-08
    days on market $749,900 Active 93 DOM
40. 2026-08-07
    days on market $749,900 Active 92 DOM
41. 2026-08-06
    days on market $749,900 Active 91 DOM
42. 2026-08-05
    days on market $749,900 Active 90 DOM
43. 2026-08-04
    days on market $749,900 Active 89 DOM
44. 2026-08-03
    days on market $749,900 Active 88 DOM
45. 2026-07-31
    days on market $749,900 Active 85 DOM
46. 2026-07-29
    pricedays on market $749,900 Active 83 DOM
47. 2026-07-27
    days on market $789,750 Active 81 DOM
48. 2026-07-25
    days on market $789,750 Active 79 DOM
49. 2026-07-23
    days on market $789,750 Active 77 DOM
50. 2026-07-22
    days on market $789,750 Active 76 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: $2,276 · $190/mo
• Projected year-2 tax: $6,149 · $512/mo
• Expected delta: +$3,873/yr (+$323/mo · 170.1%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $173,224
• − Mortgage interest: −$42,006
• − Property taxes: −$2,276
• − Insurance: −$4,547
• − Repairs & maintenance: −$13,858
• − Management: −$13,858
• − HOA: −$1,932
• − Depreciation: −$21,815
• Taxable income: $72,932
• Est. tax owed @ 24.0%: −$17,504
• After-tax cash flow: $63,398/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 $12,945–$38,835 screening

This well-maintained, good-condition home in a desirable waterfront community is ready for immediate occupancy and minor cosmetic updates to enhance its curb appeal and value.

Components & finishes AI

Roof asphalt shingle · good Flooring carpet Counters granite Appliances stainless steel HVAC central · new lt5

Value-add opportunities

• Both Paint exterior shutters — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Rental Replace HVAC filters — Improves air quality and tenant satisfaction ↑

ⓘ 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.

C Composite school gradezoned avg 70/100

Zoned Schools

Elementary Bogue Sound Elementary B NC #168/1,410 Nat'l #5,998/41,679 Middle Broad Creek Middle A- NC #28/475 Nat'l #1,199/14,009 High Croatan High A NC #73/535 Nat'l #1,074/17,239

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

C Composite livability gradescore 63/100

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

• County: Carteret County · 73,443 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: 9% of renters

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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%

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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%

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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

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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: Homeowners association with annual fee (annually)Community amenities include pool, clubhouse, boat dock, marina, gated access, management, and playground

Exterior

• Parking: Attached 2-car garage with concrete driveway and garage door openerTotal of 2 parking spaces
• Utilities: Public waterSewer connectedWater connected
• Home design: Single-family residenceTwo-story homeEntry level: 1
• Construction: Wood siding and frame constructionShingle roofBuilt on a foundation (frame construction noted)
• Exterior features: PatioChain link fencing around backyardProperty has a view

Interior

• Kitchen: Kitchen islandPantry
• Bedrooms: Total rooms: 8
• Flooring: Carpet
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air conditioningElectric forced-air heating
• Interior features: Walk-in closet(s)Kitchen islandPantryAccessible full bathroom
• Laundry & utility: Dedicated laundry room

Price history

+1163.6% since first listed

5 events — show timeline

• 2026-05-07 Listed $789,750 Hive MLS
• 2019-04-22 Sold (MLS) $395,000 Hive MLS
• 2019-01-24 Listed $395,000 Hive MLS
• 2017-06-01 Listing Removed — Hive MLS
• 2016-06-01 Listed $62,500 Hive MLS

Property tax history

+32.9%/yr

Latest (2025): $2,276 · +36.6% YoY. Source: county tax records.