836 Palm Frond Way NW · Calabash, NC 28467

$217,990

3 bd · 2.5 ba · 1,734 sqft · Townhouse · 157 Days on market

Built 2026 Excellent condition 1,786 sqft lot Garage $126/sqft · 8% below area Est $237k · 8% under $186/mo HOA · 8% of rent

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +11.2/15.0
• 1% rule +5.2/10.0
• Condition / age +4.8/5.0
• Schools +4.7/10.0
• DSCR +4.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the Filmore plan in the desirable Calabash Palms community, perfectly situated in scenic Calabash, North Carolina. This thoughtfully designed 2-story townhouse offers a comfortable blend of style and function with 3 bedrooms, including a main-level primary suite, 2.5 baths, and a 1-car garage -- all for an amazing price! Step inside to discover an open-concept layout ideal for both relaxing and entertaining. The primary suite on the main floor provides added convenience and privacy, while two additional bedrooms and a 1 full bath upstairs offer space for family or guests.

Key facts

• Modern kitchen
• Open-concept layout
• $186 HOA

Tags

• CALABASH PALMS COMMUNITY
• OPEN-CONCEPT LAYOUT
• MODERN KITCHEN
• MAIN-LEVEL PRIMARY SUITE
• LOW-MAINTENANCE LIFESTYLE
• PROXIMITY TO LOCAL BEACHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $218k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $70 ($837/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $218k).
• Recommended offer: $192k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.0% in Calabash — 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 61/100 on livability (#487 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D, amenities F, commute F.
• Brunswick County Schools (rural): math 45% / reading 47% proficiency, ranked #82 of 178 in NC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jessie Mae Monroe Elementary (math 43% / reading 41%, grade F, #633 of 1,410 statewide, top 48%, 394 students, 99% FRL); Shallotte Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 674 students, 100% FRL); West Brunswick High (math 50% / reading 56%, grade C-, #281 of 535 statewide, top 53%, 1,526 students, 100% FRL) — zoned schools average 100% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1083 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 36% of the median local income ($75k/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 $7k of value loss. Plan a longer hold.
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $37k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $191,831 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
6. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 6.68%
• Cash-on-cash: 1.37%
• DSCR: 1.06
• GRM: 8.1

CMA / ARV

• ARV (median comp): $237,443
• List price: $217,990
• Delta: -8.19%
• 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
832 NW Palm Frond Way #36	0.01mi	3/2.5	1,734 (0%)	2mo	$249,000	$144	98
832 Palm Frond Way NW	0.01mi	3/2.5	1,704 (-2%)	2mo	$249,000	$146	95
729 NW Palm Frond Way #12	0.12mi	3/2.5	1,734 (0%)	3mo	$244,990	$141	92
826 NW Palm Frond Way #38	0.02mi	3/3.5	1,734 (0%)	4mo	$234,990	$136	91
727 Palm Frond Way NW	0.13mi	3/2.5	1,734 (0%)	5mo	$244,990	$141	90
727 Palm Frond Way #11	0.13mi	3/2.5	1,734 (0%)	5mo	$244,990	$141	90
723 NW Palm Frond Way #9	0.14mi	3/2.5	1,734 (0%)	5mo	$250,000	$144	89
729 Palm Frond Way NW	0.12mi	3/2.5	1,704 (-2%)	3mo	$244,990	$144	89
816 Palm Frond Way NW	0.04mi	3/3.5	1,734 (0%)	7mo	$244,990	$141	88
816 Palm Frond Way #41	0.04mi	3/3.5	1,734 (0%)	7mo	$244,990	$141	88
826 Palm Frond Way NW	0.02mi	3/3.5	1,704 (-2%)	4mo	$234,990	$138	88
723 Palm Frond Way NW	0.14mi	3/3.5	1,704 (-2%)	5mo	$250,000	$147	82

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-30,733
• Equity at exit: $32,503

10-year hold

• IRR: -5.1%
• Equity multiple: 0.67×
• Total profit: $-20,441
• Equity at exit: $18,848

Cash invested: $61,037 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 27 active · 8 under contract
• Months of supply: 16.2 mo (6%/mo absorbed)
• Median asking: $249,000 ($144/sqft)
• Median days on market: 99 d
• This list price: 15% of active listings are priced below it
• ARV vs active asking: -4.8% vs current asking $/sqft

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

ZIP-level market 28467

• Home prices YoY: -33.7%
• Active inventory: 1083
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,231 high
• Mortgage (P&I): −$1,143
• Tax est. 1.5%: −$272 /mo · $3,270/yr
• Insurance: −$91
• HOA: −$186
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $70

Break-even live

Break-even rent $2,142

Max offer price $217,990

Occupancy floor 92%

Sensitivity live

Price	-10% $220	-5% $145	+0% $70	+5% $-6	+10% $-81
Rent	-10% $-106	-5% $-18	+0% $70	+5% $158	+10% $246
Rate	-1.0pp $180	-0.5pp $125	base $70	+0.5pp $13	+1.0pp $-44

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: $54,498
• Closing costs: $6,540
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
495 Forthlin Dr NW Carolina Shores, NC	3.0	2.0	1818	$2,400	$1.32	51d	1	0.40mi
692 Pickering Dr NW Calabash, NC	3.0	2.0	1326	$1,800	$1.36	41d	1	0.45mi
3021 Siskin Dr NW Ocean Isl Bch, NC	2.0–3.0	2.0–2.5	1557	$2,455	$1.58	0d	15	0.52mi
1204 Calabash Station Blvd NW Ocean Isle Beach, NC	3.0	2.0	1811	$2,200	$1.21	164d	1	0.54mi
2042 Parow Ln NW Calabash, NC	3.0	2.5	1680	$1,800	$1.07	154d	1	1.12mi
2033 Wild Indigo CIR NW Calabash, NC	3.0	3.0	1457	$1,775	$1.22	164d	1	1.12mi
2084 Northwest Dr Unit E Carolina Shores, NC	3.0	2.5	1634	$1,795	$1.10	21d	1	1.16mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,292	$1.62	36d	41	1.46mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,109	$1.49	0d	10	1.46mi

Property features AI

Finance

• HOA & community: Homeowners associationAnnual association fee of $2,232 (approximately $186/month)Association amenities include dog park, grounds maintenance, management, and trash service

Exterior

• Parking: Attached garage (1 garage space)Garage faces frontGarage with door openerAdditional parking on siteOff-street parking
• Security: Smoke detector(s)
• Utilities: Public waterUnderground utilities
• Home design: TownhouseTwo levels (2-story)Entry level 1New constructionResidential property
• Construction: Vinyl siding and frame constructionSlab foundationHome warranty includedBuilt recently (new construction)
• Exterior features: Covered patioPatioFront porchNo fencingShingle roofIrrigation equipmentKennel / dog runHas a view

Interior

• Kitchen: Self-cleaning ovenRange / Electric rangeDishwasherDisposalElectric water heater
• Bedrooms: Bedrooms count not provided
• Flooring: Carpet
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Heat pump heatingElectric heatingCentral air conditioningZoned coolingHeat pump cooling
• Interior features: Master suite located on the main levelWalk-in closet(s)Kitchen islandWired for dataInsulated windowsUnfurnished
• Laundry & utility: Washer hookupLaundry closet

Listing history 50 events

1. 2026-11-08
   days on market $217,990 Active 157 DOM
2. 2026-11-07
   days on market $217,990 Active 156 DOM
3. 2026-11-06
   days on market $217,990 Active 155 DOM
4. 2026-11-05
   days on market $217,990 Active 154 DOM
5. 2026-11-04
   days on market $217,990 Active 153 DOM
6. 2026-11-02
   days on market $217,990 Active 151 DOM
7. 2026-11-01
   days on market $217,990 Active 150 DOM
8. 2026-10-31
   days on market $217,990 Active 149 DOM
9. 2026-10-30
   days on market $217,990 Active 148 DOM
10. 2026-10-29
    days on market $217,990 Active 147 DOM
11. 2026-10-28
    days on market $217,990 Active 146 DOM
12. 2026-10-27
    days on market $217,990 Active 145 DOM
13. 2026-10-26
    days on market $217,990 Active 144 DOM
14. 2026-10-26
    pricedays on market $217,990 Active 143 DOM
15. 2026-10-24
    days on market $224,990 Active 142 DOM
16. 2026-10-23
    days on market $224,990 Active 141 DOM
17. 2026-10-22
    days on market $224,990 Active 140 DOM
18. 2026-10-21
    days on market $224,990 Active 139 DOM
19. 2026-10-20
    days on market $224,990 Active 138 DOM
20. 2026-10-19
    days on market $224,990 Active 137 DOM
21. 2026-10-18
    days on market $224,990 Active 136 DOM
22. 2026-10-17
    days on market $224,990 Active 135 DOM
23. 2026-10-16
    days on market $224,990 Active 134 DOM
24. 2026-10-15
    days on market $224,990 Active 133 DOM
25. 2026-10-14
    days on market $224,990 Active 132 DOM
26. 2026-10-13
    days on market $224,990 Active 131 DOM
27. 2026-10-12
    days on market $224,990 Active 130 DOM
28. 2026-10-11
    days on market $224,990 Active 129 DOM
29. 2026-10-10
    days on market $224,990 Active 128 DOM
30. 2026-10-09
    days on market $224,990 Active 127 DOM
31. 2026-10-08
    days on market $224,990 Active 126 DOM
32. 2026-10-07
    days on market $224,990 Active 125 DOM
33. 2026-10-06
    days on market $224,990 Active 124 DOM
34. 2026-10-05
    days on market $224,990 Active 123 DOM
35. 2026-10-04
    days on market $224,990 Active 122 DOM
36. 2026-10-03
    days on market $224,990 Active 121 DOM
37. 2026-10-02
    days on market $224,990 Active 120 DOM
38. 2026-10-02
    price $224,990 Active 119 DOM
39. 2026-10-01
    days on market $234,990 Active 119 DOM
40. 2026-09-30
    days on market $234,990 Active 118 DOM
41. 2026-09-29
    days on market $234,990 Active 117 DOM
42. 2026-09-28
    days on market $234,990 Active 116 DOM
43. 2026-09-27
    days on market $234,990 Active 115 DOM
44. 2026-09-26
    days on market $234,990 Active 113 DOM
45. 2026-09-24
    days on market $234,990 Active 112 DOM
46. 2026-09-23
    days on market $234,990 Active 111 DOM
47. 2026-09-22
    days on market $234,990 Active 110 DOM
48. 2026-09-21
    days on market $234,990 Active 109 DOM
49. 2026-09-20
    days on market $234,990 Active 108 DOM
50. 2026-09-19
    days on market $234,990 Active 107 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,768
• − Mortgage interest: −$12,211
• − Property taxes: −$3,270
• − Insurance: −$1,090
• − Repairs & maintenance: −$2,141
• − Management: −$2,141
• − HOA: −$2,232
• − Depreciation: −$6,342
• Taxable loss: −$2,659
• Est. tax savings @ 24.0%: +$638
• After-tax cash flow: $1,475/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 · 13 photos

Excellent 95/100 None rehab

This move-in-ready townhouse in Calabash Palms offers a blend of style and function, with a modern design and excellent condition. The home is ready for immediate occupancy and can be further enhanced with minor updates for maximum value.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's aesthetic and appeal ↑
• Both Interior paint touch-ups — Freshens the interior and enhances curb appeal ↑

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Jessie Mae Monroe Elementary F NC #633/1,410 Nat'l #17,861/41,679 Middle Shallotte Middle D NC #160/475 Nat'l #4,622/14,009 High West Brunswick High C- NC #281/535 Nat'l #4,893/17,239

Schools (NCES district)

• District: Brunswick County Schools
• NCES district ID: 3700420
• Math proficiency: 45% ▲ 4.00%
• Reading proficiency: 47% ▲ 4.00%
• Median HH income: $47,494
• Composite: 39.23/100
• National rank: #4011
• State rank: #82 of 178 in NC

C Composite livability gradescore 61/100

Livability — Calabash

• Score: 61/100
• State rank: #487
• US rank: #17866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 152,111 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 13,313
• Household income: $75,341
• Rent vs Own: 10.4% rent · 89.6% own
• Severe rent burden: 14% of renters

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Population outlook (Brunswick County) Hauer SSP2

• Today (2025): 152,111 people
• By 2030: 165,705 · +8.9%
• By 2040: 188,494 · +23.9%
• By 2050: 206,228 · +35.6%
• By 2075: 237,876 · +56.4%
• By 2100: 251,451 · +65.3%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Languages at home: 98% English-only · Spanish 1%

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Political lean MEDSL · Brunswick

• 2024 margin: Strong R (+24.9) · D 37.2% · R 62.0%
• 2008→2024 swing: -6.9pp toward R · 2008: -17.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+25.0 2016: R+28.7 2012: R+22.2 2008: R+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.90%
• Current HPI: 133.7186
• Rent YoY: —
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-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 associationAnnual association fee of $2,232 (approximately $186/month)Association amenities include dog park, grounds maintenance, management, and trash service

Exterior

• Parking: Attached garage (1 garage space)Garage faces frontGarage with door openerAdditional parking on siteOff-street parking
• Security: Smoke detector(s)
• Utilities: Public waterUnderground utilities
• Home design: TownhouseTwo levels (2-story)Entry level 1New constructionResidential property
• Construction: Vinyl siding and frame constructionSlab foundationHome warranty includedBuilt recently (new construction)
• Exterior features: Covered patioPatioFront porchNo fencingShingle roofIrrigation equipmentKennel / dog runHas a view

Interior

• Kitchen: Self-cleaning ovenRange / Electric rangeDishwasherDisposalElectric water heater
• Bedrooms: Bedrooms count not provided
• Flooring: Carpet
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Heat pump heatingElectric heatingCentral air conditioningZoned coolingHeat pump cooling
• Interior features: Master suite located on the main levelWalk-in closet(s)Kitchen islandWired for dataInsulated windowsUnfurnished
• Laundry & utility: Washer hookupLaundry closet

Price history

+0.0% since first listed

3 events — show timeline

• 2026-06-05 Listing Removed — Hive MLS
• 2026-06-04 Listed $254,990 Hive MLS
• 2026-03-26 Listed $254,990 Hive MLS