3014 Boones Neck Rd SW · Holden Beach, NC 28462

$175,000

3 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 20 Days on market

Built 1988 0.34 ac lot Est $185k · 5% under

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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 +28.3/30.0
• DSCR +10.0/10.0
• ARV discount +9.9/15.0
• 1% rule +6.4/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits at 3014 Boones Neck Road in Supply, NC. Situated on a spacious 0.34-acre lot, this 3-bedroom, 2-bathroom manufactured home offers 1,080 square feet of living space and plenty of room to make it your own. The home features a brand-new HVAC system, providing peace of mind for the next owner. Inside, you'll find a functional floor plan with a comfortable living area, kitchen, and split-bedroom layout. Whether you're looking for a primary residence, investment property, or affordable coastal-area home, this property offers solid potential and a generous yard with space for outdoor activities, gardening, or additional storage. Conveniently located near local beaches, shopping,

Key facts

• Generous yard
• Spacious lot
• 0.34 acre lot

Tags

• SPACIOUS LOT
• BRAND-NEW HVAC SYSTEM
• FUNCTIONAL FLOOR PLAN
• COMFORTABLE LIVING AREA
• GENEROUS YARD

Property features AI

Exterior

• Parking: On-site unpaved parking
• Utilities: Public water (connected); Septic tank sewer
• Home design: Manufactured home; One story; Entry level: 1
• Construction: Vinyl siding and frame construction; Brick/mortar permanent foundation
• Exterior features: Rear porch; No fencing; Shingle roof; Has a view; Paved road access; Irregular lot shape

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher
• Flooring: Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump and electric heating; Central air conditioning
• Interior features: Electric oven, refrigerator, dishwasher; Laminate and vinyl flooring; 5 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.1% in Holden 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 (#334 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, housing A; Watch: cost of living D, health & safety D, amenities 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: Supply Elementary (math 46% / reading 39%, grade F, #625 of 1,410 statewide, top 45%, 539 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% 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: 506 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 40% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $175k implies a 1650% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $172,375 (1.5% 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. 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.
3. 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.
4. 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: 1.14% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.67%
• DSCR: 1.61
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $184,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2367 Randy St SW	0.35mi	3/2.0	1,050 (-6%)	0mo	$175,000	$167	73
2910 Jeremy St SW	0.42mi	3/2.0	1,080 (-4%)	2mo	$169,000	$156	72
2255 W Tanglewood Dr SW	0.43mi	3/2.0	1,178 (+5%)	1mo	$255,000	$216	71
2094 N Tanglewood Dr SW	0.28mi	3/2.0	1,054 (-6%)	10mo	$203,400	$193	69
2382 Summer Place Dr SW	0.38mi	2/2.0 (-1)	1,178 (+5%)	6mo	$225,500	$191	64
2333 Randy St SW	0.26mi	3/2.0	990 (-12%)	20mo	$150,000	$152	51
2219 Ontario St	0.46mi	3/2.0	968 (-14%)	9mo	$115,000	$119	48
2325 Blackbeard Dr SW	0.42mi	3/2.0	954 (-15%)	14mo	$145,000	$152	44
2875 Pirate Ln SW	0.52mi	2/2.0 (-1)	1,178 (+5%)	22mo	$191,500	$163	44
2747 Kelford St SW	0.52mi	2/2.0 (-1)	1,064 (-5%)	23mo	$150,000	$141	43
2425 Oakland St SW	0.65mi	2/2.0 (-1)	1,000 (-11%)	10mo	$165,000	$165	38
2340 E Tanglewood Dr SW	0.35mi	2/2.0 (-1)	952 (-15%)	23mo	$175,000	$184	35

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $7,119
• Equity at exit: $26,093

10-year hold

• IRR: 13.2%
• Equity multiple: 2.05×
• Total profit: $51,646
• Equity at exit: $15,131

Cash invested: $49,000 (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 28462

• Active inventory: 506
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$31 /mo · $375/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $558

Break-even live

Break-even rent $1,293

Max offer price $175,000

Occupancy floor 67%

Sensitivity live

Price	-10% $657	-5% $608	+0% $558	+5% $509	+10% $250
Rent	-10% $400	-5% $479	+0% $558	+5% $637	+10% $716
Rate	-1.0pp $646	-0.5pp $603	base $558	+0.5pp $513	+1.0pp $467

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2272 Dolphin Shores Dr SW Unit 404 Supply, NC	2.0	2.0	1216	$1,650	$1.36	15d	1	0.66mi

Listing history 17 events

1. 2026-06-18
   days on market $175,000 Active 20 DOM
2. 2026-06-17
   days on market $175,000 Active 19 DOM
3. 2026-06-16
   days on market $175,000 Active 18 DOM
4. 2026-06-15
   days on market $175,000 Active 17 DOM
5. 2026-06-14
   days on market $175,000 Active 15 DOM
6. 2026-06-13
   days on market $175,000 Active 14 DOM
7. 2026-06-10
   days on market $175,000 Active 12 DOM
8. 2026-06-09
   days on market $175,000 Active 11 DOM
9. 2026-06-08
   days on market $175,000 Active 10 DOM
10. 2026-06-07
    days on market $175,000 Active 9 DOM
11. 2026-06-05
    days on market $175,000 Active 6 DOM
12. 2026-06-03
    days on market $175,000 Active 5 DOM
13. 2026-06-02
    days on market $175,000 Active 4 DOM
14. 2026-06-01
    days on market $175,000 Active 3 DOM
15. 2026-05-31
    days on market $175,000 Active 2 DOM
16. 2026-05-30
    remarks 699-char remark
17. 2026-05-30
    listed $175,000 Active 1 DOM

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

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $375 · $31/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$1,060/yr (+$88/mo · 283.1%)

ⓘ 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 ≥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: $24,003
• − Mortgage interest: −$9,803
• − Property taxes: −$375
• − Insurance: −$875
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,091
• Taxable income: $4,019
• Est. tax owed @ 24.0%: −$965
• After-tax cash flow: $5,736/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: 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

Livability — Holden Beach

• Score: 65/100
• State rank: #334
• US rank: #13586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 12,340
• Household income: $60,349
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 269.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -259.44%
• Current HPI: 144.2462
• Rent YoY: —
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-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

+1650.0% since first listed

2 events — show timeline

• 2026-05-29 Listed $175,000 Hive MLS
• 1986-11-01 Sold (Public Records) $10,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $375 · +0.0% YoY. Source: county tax records.