7122 Channel Ii SW · Sunset Beach, NC 28469

$209,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 62 Days on market

Built 1999 0.34 ac lot $17/mo HOA · 1% of rent

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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 +19.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.0/10.0
• Schools +3.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Sea Village in Ocean Isle Beach, this large 3 bedroom 2 bath manufactured home is waiting for your personal touch. Large attached 2 car garage. Best deal in the neighborhood! Don't miss out, call your agent today! Property is being sold subject to HUD Guidelines 24 CFR 206.125

Key facts

• Open floor plan
• Modern appliances
• Large backyard

Tags

• OPEN FLOOR PLAN
• AMPLE CABINET SPACE
• MODERN APPLIANCES
• LARGE BACKYARD
• SHORT DRIVE FROM THE BEACH

Property features AI

Finance

• HOA & community: Annual association fee of $200; Community pool

Exterior

• Parking: 2 total parking spaces; 2-car attached garage; Garage faces front; Gravel driveway
• Utilities: Public water; Septic tank sewer; Water available
• Home design: Manufactured home; One level / 1 story
• Construction: Vinyl siding with frame construction; Built as a manufactured home
• Exterior features: Deck; Front porch; Rear porch; Porch; Partial wire fencing; Shingle roof; Has a view

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher; Microwave
• Bedrooms: 7 total rooms (bedrooms included in room count)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Ceiling fans; Window coverings; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $209k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/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 $187k (10.3% below list).
• Recommended offer: $187k (10.3% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 2.3% in Sunset 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 66/100 on livability (#257 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B+, cost of living B; 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: 536 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 62 days — a 6% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 4 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 $66k; list at $209k implies a 217% 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; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,475 (10.3% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 10% 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. 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?
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: 0.90% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-19,808
• Equity at exit: $31,163

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $617
• Equity at exit: $18,071

Cash invested: $58,520 (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 28469

• Active inventory: 536
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,875 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$59 /mo · $706/yr
• Insurance: −$87
• HOA: −$17
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $222

Break-even live

Break-even rent $1,594

Max offer price $209,000

Occupancy floor 83%

Sensitivity live

Price	-10% $340	-5% $281	+0% $222	+5% $163	+10% $104
Rent	-10% $74	-5% $148	+0% $222	+5% $296	+10% $370
Rate	-1.0pp $327	-0.5pp $275	base $222	+0.5pp $168	+1.0pp $113

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7011 Falmouth Ct SW Ocean Isle Beach, NC	3.0	2.0	1300	$2,107	$1.62	15d	1	0.47mi
241 Arnette Dr Unit A Sunset Beach, NC	3.0	2.5	1566	$1,675	$1.07	22d	1	0.59mi
249A Arnette Dr Sunset Beach, NC	3.0	2.5	1513	$1,975	$1.31	24d	1	0.60mi
246 Arnette Dr Unit B Ocean Isle Beach, NC	3.0	2.5	1566	$1,850	$1.18	24d	1	0.63mi
1956 Sparrowstar Way SW Shallotte, NC	1.0–2.0	1.5–2.5	1182	$1,830	$1.55	24d	12	0.63mi
1407 Sunset Creek Way Ocean Isle Beach, NC	1.0–2.0	1.0–2.0	872	$1,535	$1.76	15d	25	0.76mi
1790 Queen Anne Unit 1 Sunset Beach, NC	3.0	2.5	1701	$2,150	$1.26	24d	1	1.45mi
6900 13th St SW Ocean Isle Beach, NC	3.0	1.0	1856	$1,650	$0.89	24d	1	1.45mi

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 14 events

1. 2026-06-03
   days on market $209,000 Active 62 DOM
2. 2026-06-02
   days on market $209,000 Active 61 DOM
3. 2026-06-01
   days on market $209,000 Active 60 DOM
4. 2026-05-31
   days on market $209,000 Active 59 DOM
5. 2026-05-30
   days on market $209,000 Active 58 DOM
6. 2026-04-02
   listed $209,000 Active
7. 2025-03-24
   status Pending
8. 2025-03-24
   historical
9. 2025-03-23
   status Active
10. 2025-02-26
    status Pending
11. 2025-02-14
    listed $199,000 Active
12. 2015-10-16
    soldstatus $66,000 288-char remark

    Show marketing remark (288 chars)

    Located in Sea Village in Ocean Isle Beach, this large 3 bedroom 2 bath manufactured home is waiting for your personal touch. Large attached 2 car garage. Best deal in the neighborhood! Don't miss out, call your agent today! Property is being sold subject to HUD Guidelines 24 CFR 206.125

13. 2015-04-27
    listed $66,000 288-char remark

    Show marketing remark (288 chars)

    Located in Sea Village in Ocean Isle Beach, this large 3 bedroom 2 bath manufactured home is waiting for your personal touch. Large attached 2 car garage. Best deal in the neighborhood! Don't miss out, call your agent today! Property is being sold subject to HUD Guidelines 24 CFR 206.125

14. 1998-06-01
    soldstatus $33,500

ⓘ 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: $706 · $59/mo
• Projected year-2 tax: $1,714 · $143/mo
• Expected delta: +$1,007/yr (+$84/mo · 142.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,497
• − Mortgage interest: −$11,707
• − Property taxes: −$706
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − HOA: −$204
• − Depreciation: −$6,080
• Taxable loss: −$845
• Est. tax savings @ 24.0%: +$203
• After-tax cash flow: $2,868/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 — Sunset Beach

• Score: 66/100
• State rank: #257
• US rank: #11344

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,154
• Population (ZIP): 9,364

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Black 2% Two or more races 1%
• Common ancestry: Romanian 3% Lithuanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 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: ▼ -270.51%
• Current HPI: 143.229
• 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

+523.9% since first listed

9 events — show timeline

• 2026-04-02 Listed $209,000 Hive MLS
• 2025-03-24 Pending — Hive MLS
• 2025-03-24 Listing Removed — Hive MLS
• 2025-03-23 Relisted — Hive MLS
• 2025-02-26 Pending — Hive MLS
• 2025-02-14 Listed $199,000 Hive MLS
• 2015-10-16 Sold (MLS) $66,000 Hive MLS
• 2015-04-27 Listed $66,000 Hive MLS
• 1998-06-01 Sold (Public Records) $33,500 Public Records

Property tax history

+0.7%/yr

Latest (2025): $706 · +0.0% YoY. Source: county tax records.