1 Portwest Townhouses Ct Apt D · Swansboro, NC 28584

$215,000

3 bd · 2.5 ba · 1,240 sqft · Townhouse public records · 28 Days on market

Built 1983 Est $260k · 17% under $235/mo HOA · 12% 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).

• ARV discount +15.0/15.0
• Cash flow +13.4/30.0
• 1% rule +4.1/10.0
• DSCR +4.0/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Conveniently located in the heart of Swansboro, this well-positioned 3 bedroom, 2.5 bath townhome offers comfortable living just minutes from shopping, medical care, auto repair, local restaurants, and the charming Swansboro Waterfront. Situated in a desirable end-unit location with abundant surrounding green space, the property provides an open, airy feel rarely found in townhome living. Inside, the functional floor plan is designed for comfortable everyday living and easy entertaining. The first level welcomes you with an entry hall leading to an inviting open living and dining area complete with convenient half bath, kitchen, and laundry closet. Upstairs, you'll find 3 bedrooms and 2 fu

Key facts

• Private rear patio
• End-unit location
• $235 HOA

Tags

• END-UNIT LOCATION
• PRIVATE REAR PATIO

Property features AI

Finance

• Other: Zoning: R-6; Subdivision: Port West
• HOA & community: Homeowners association with management; HOA fee $2,820 annually (approximately $235/month)

Exterior

• Parking: On-site paved parking
• Security: Smoke detector(s)
• Utilities: Public water; Water connected
• Home design: Townhouse; Two levels; Entry level: 1; Residential property
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built as a townhouse
• Exterior features: Patio; Level lot; Paved road access; Has view

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: Total rooms: 6
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; Accessible full bath
• Heating & cooling: Heat pump with electric backup; Cooling: Heat pump
• Interior features: Entrance foyer; Ceiling fan(s); Storage
• Laundry & utility: Washer; Dryer; Laundry in kitchen; Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $215k.

Deal economics

• At list price, monthly cash flow is $4 ($53/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 $196k (9.0% below list).
• Recommended offer: $196k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.5% in Swansboro — 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 77/100 on livability (#32 in NC, #3,124 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, commute F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Swansboro Elementary (math 65% / reading 60%, grade B, #174 of 1,410 statewide, top 13%, 668 students, 34% FRL); Swansboro Middle (math 52% / reading 55%, grade C+, #87 of 475 statewide, top 19%, 967 students, 43% FRL); Swansboro High (math 77% / reading 68%, grade B+, #104 of 535 statewide, top 19%, 1,115 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Zoned-school proficiency averages 63% at this address vs 46% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Onslow County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 201 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,246 units permitted in Onslow County in 2024 (0 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $165k; 30% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,750 (9.0% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.91% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $260,400
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Catalina Cir	0.29mi	2/2.5 (-1)	1,187 (-4%)	8mo	$265,000	$223	68
4 Port West Ct Unit C	0.03mi	2/1.5 (-1)	1,104 (-11%)	10mo	$180,000	$163	63
16 Catalina Cir	0.27mi	2/2.5 (-1)	1,176 (-5%)	18mo	$237,000	$202	59
26 Schooner Dr	0.37mi	2/2.5 (-1)	1,232 (-1%)	21mo	$254,000	$206	59
2 Catalina Cir	0.28mi	2/2.5 (-1)	1,104 (-11%)	9mo	$240,000	$217	56
39 Outrigger Dr	0.32mi	2/2.5 (-1)	1,137 (-8%)	20mo	$235,500	$207	50
56 Catalina Cir	0.34mi	2/2.5 (-1)	1,120 (-10%)	18mo	$235,000	$210	48
21 Catalina Cir	0.30mi	2/2.5 (-1)	1,120 (-10%)	21mo	$236,500	$211	48

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-34,493
• Equity at exit: $32,057

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-29,413
• Equity at exit: $18,589

Cash invested: $60,200 (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 28584

• Home prices YoY: -4.0%
• Active inventory: 201
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,958 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$90 /mo · $1,079/yr
• Insurance: −$90
• HOA: −$235
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $4

Break-even live

Break-even rent $1,952

Max offer price $215,000

Occupancy floor 95%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
69 Outrigger Dr Swansboro, NC	2.0	2.5	1120	$1,700	$1.52	21d	1	0.40mi
14 Pirates Cove Dr Swansboro, NC	3.0	2.5	1240	$1,500	$1.21	21d	1	1.12mi

HOA detail

• Monthly dues: $235 · $2,820/yr
• Likely covers: water

Listing history 22 events

1. 2026-06-19
   days on market $215,000 Active 28 DOM
2. 2026-06-18
   days on market $215,000 Active 27 DOM
3. 2026-06-17
   days on market $215,000 Active 26 DOM
4. 2026-06-16
   days on market $215,000 Active 25 DOM
5. 2026-06-15
   days on market $215,000 Active 24 DOM
6. 2026-06-14
   days on market $215,000 Active 22 DOM
7. 2026-06-13
   days on market $215,000 Active 21 DOM
8. 2026-06-10
   days on market $215,000 Active 19 DOM
9. 2026-06-09
   days on market $215,000 Active 18 DOM
10. 2026-06-09
    days on market $215,000 Active 17 DOM
11. 2026-06-07
    days on market $215,000 Active 16 DOM
12. 2026-06-03
    days on market $215,000 Active 12 DOM
13. 2026-06-02
    days on market $215,000 Active 11 DOM
14. 2026-06-01
    days on market $215,000 Active 10 DOM
15. 2026-05-31
    days on market $215,000 Active 9 DOM
16. 2026-05-30
    days on market $215,000 Active 8 DOM
17. 2026-05-21
    listed $215,000 Active
18. 2023-06-23
    soldstatus $165,000
19. 2014-05-30
    soldstatus $80,000
20. 2005-07-22
    soldstatus $74,000
21. 2005-07-22
    soldstatus $74,000
22. 1987-11-25
    soldstatus $12,500

ⓘ 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: $1,079 · $90/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$684/yr (+$57/mo · 63.4%)

ⓘ 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 ≥103°F today · 20 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: $23,490
• − Mortgage interest: −$12,043
• − Property taxes: −$1,079
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − HOA: −$2,820
• − Depreciation: −$6,255
• Taxable loss: −$3,541
• Est. tax savings @ 24.0%: +$850
• After-tax cash flow: $903/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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Swansboro

• Score: 77/100
• State rank: #32
• US rank: #3124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Swansboro, NC
• County: Carteret County · 52,389 people
• Metro: Morehead City, NC
• Population (ZIP): 14,939
• Household income: $87,414
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 256.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 4% Black 2%
• Common ancestry: Lithuanian 4% Slovak 3% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.35%
• Current HPI: 370.67
• Rent YoY: —
• Metro: Morehead City, 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

+1620.0% since first listed

6 events — show timeline

• 2026-05-21 Listed $215,000 Hive MLS
• 2023-06-23 Sold (Public Records) $165,000 Public Records
• 2014-05-30 Sold (Public Records) $80,000 Public Records
• 2005-07-22 Sold (Public Records) $74,000 Public Records
• 2005-07-22 Sold (Public Records) $74,000 Public Records
• 1987-11-25 Sold (Public Records) $12,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,079 · +0.0% YoY. Source: county tax records.