175 Pine Cone Ln · Bath, NC 27814

$124,900

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 11 Days on market

Built 2000 8,276 sqft lot Est $104k · 20% over

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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 +18.1/30.0
• DSCR +5.7/10.0
• Appreciation +4.8/10.0
• 1% rule +4.0/10.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

This very well maintained home is across the street from the river in Crystal Beach. This property has a chain link fence, covered front porch and a 10'x17' observation deck on the roof. Also there is a boat shed and storage/shop in the backyard. The home is furnished and move in ready. There is deeded water access, boat ramps, a covered picnic area and a bathhouse just down the street.

Key facts

• Private boat ramp
• Stunning river views
• Riverfront community

Tags

• RIVERFRONT COMMUNITY
• PRIVATE BOAT RAMP
• STUNNING RIVER VIEWS
• EASY ACCESS TO LOCAL SHOPS

Property features AI

Exterior

• Parking: 1 parking space (unpaved); 1-car garage
• Utilities: Water connected
• Home design: Manufactured home; Single-story (one level); Entry level: 1
• Construction: Vinyl siding with frame construction; Other foundation
• Exterior features: Porch; Chain link fencing; Shingle roof; Water connected

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Porch; Chain link fencing; Has a view

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (10.2% below list).
• Recommended offer: $112k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 1.8% in Bath — 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 66/100 on livability (#287 in NC) — a middle-class / working-renter tenant base. Strengths: crime A, housing B; Watch: cost of living C-, health & safety C-, amenities F.
• Beaufort County Schools (rural): math 39% / reading 42% proficiency, ranked #112 of 178 in NC (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Beaufort Co Early College High (math 90%, 282 students, 47% FRL) — zoned schools average 47% FRL vs 67% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 35 active listings in the ZIP; 216 units permitted in Beaufort County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $409 of equity ($864 loan paydown + $-455 appreciation (-0.4% local appreciation)).
• Beaufort County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $85k; 47% 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; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,122 (10.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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?
4. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.73%
• DSCR: 1.17
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $103,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 Magnolia Dr	0.14mi	2/2.0 (-1)	1,431 (+10%)	10mo	$114,000	$80	63

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,108
• Equity at exit: $34,007

10-year hold

• IRR: 6.5%
• Equity multiple: 1.68×
• Total profit: $23,757
• Equity at exit: $39,116

Cash invested: $34,972 (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 →

ZIP-level market 27814

• Home prices YoY: -0.2%
• Active inventory: 35
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,121 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $109

Break-even live

Break-even rent $984

Max offer price $124,900

Occupancy floor 85%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-18
   listed $124,900 Active
2. 2015-08-25
   soldstatus $85,000 389-char remark

   Show marketing remark (389 chars)

   This very well maintained home is across the street from the river in Crystal Beach. This property has a chain link fence, covered front porch and a 10'x17' observation deck on the roof. Also there is a boat shed and storage/shop in the backyard. The home is furnished and move in ready. There is deeded water access, boat ramps, a covered picnic area and a bathhouse just down the street.

3. 2015-06-03
   listed $89,900 389-char remark

   Show marketing remark (389 chars)

   This very well maintained home is across the street from the river in Crystal Beach. This property has a chain link fence, covered front porch and a 10'x17' observation deck on the roof. Also there is a boat shed and storage/shop in the backyard. The home is furnished and move in ready. There is deeded water access, boat ramps, a covered picnic area and a bathhouse just down the street.

4. 2006-02-01
   soldstatus $29,000

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $1,024 · $85/mo
• Expected delta: +$184/yr (+$15/mo · 21.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $13,455
• − Mortgage interest: −$6,996
• − Property taxes: −$841
• − Insurance: −$624
• − Repairs & maintenance: −$1,076
• − Management: −$1,076
• − Depreciation: −$3,633
• Taxable loss: −$793
• Est. tax savings @ 24.0%: +$190
• After-tax cash flow: $1,494/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: Beaufort County Schools
• NCES district ID: 3700330
• Math proficiency: 39% ▬ 0.00%
• Reading proficiency: 42% ▲ 3.00%
• Median HH income: $40,486
• Composite: 33.99/100
• National rank: #5320
• State rank: #112 of 178 in NC

Livability — Bath

• Score: 66/100
• State rank: #287
• US rank: #12274

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,746

Population outlook (Beaufort County) Hauer SSP2

• Today (2025): 47,069 people
• By 2030: 46,417 · -1.4%
• By 2040: 44,455 · -5.6%
• By 2050: 42,239 · -10.3%
• By 2075: 37,349 · -20.7%
• By 2100: 32,434 · -31.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 19%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 1% · China, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Beaufort

• 2024 margin: Solid R (+31.1) · D 34.1% · R 65.2%
• 2008→2024 swing: -13.7pp toward R · 2008: -17.4pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+25.9 2016: R+24.5 2012: R+19.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.36%
• Current HPI: 209.0508
• Rent YoY: —
• Metro: —
• 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

+330.7% since first listed

4 events — show timeline

• 2026-05-18 Listed $124,900 Hive MLS
• 2015-08-25 Sold (MLS) $85,000 Hive MLS
• 2015-06-03 Listed $89,900 Hive MLS
• 2006-02-01 Sold (Public Records) $29,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $841 · +38.9% YoY. Source: county tax records.