152 Meadowlark Ln · Newport, NC 28570

$275,000

3 bd · 2.0 ba · 2,156 sqft · Other public records · 154 Days on market

Built 2005 0.57 ac lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

If you are looking for a place close to the beach but not on the beach. This may be for you. Over 2000 sq. ft. modular home. 3 Beds/3 Bath with a bonus room. . Yard has just over 1/2 acre to put all your toys in. (Boat-jet ski ect. .) A whole house generator. Backyard is fenced in. The home has a den and a living room area. Just incase you have the whole family visiting. All Bedrooms have access to a bathroom. Principal Bedroom has a private sitting area all to yourself. 2 sheds. Don't let this one get away. Home is being sold as-is.

Key facts

• Modular home
• Close to the beach
• Private sitting area

Tags

• CLOSE TO THE BEACH
• MODULAR HOME
• WHOLE HOUSE GENERATOR
• BACKYARD FENCED
• PRIVATE SITTING AREA
• 2 SHEDS

Property features AI

Finance

• Other: Located on a private road (see remarks); Lot approximately 0.57 acres (dimensions: 115 x 223 x 115 x 215); Zoned residential

Exterior

• Parking: Unpaved parking; 1 total parking space; 1-car garage
• Utilities: Public water; Septic tank sewer; Generator power; Underground utilities; Water connected
• Home design: Single family residence; One story
• Construction: Vinyl siding and frame construction; Shingle roof
• Exterior features: Deck; Patio/porch (see remarks); Chain link, wood, and backyard fencing; Shed(s); Has view

Interior

• Kitchen: Refrigerator; Dishwasher; Electric range; Microwave; Water softener
• Bedrooms: Total rooms: 8
• Flooring: Carpet; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Kitchen island; Accessible full bathroom; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $275k.

Deal economics

• At list price, monthly cash flow is $8k ($97k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.
• Cap rate 41.7% vs local median 31.4% in Newport — 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 63/100 on livability (#385 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Carteret County Public Schools (rural): math 59% / reading 61% proficiency, ranked #31 of 178 in NC (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Newport Elementary (math 48% / reading 45%, grade D-, #542 of 1,410 statewide, top 39%, 645 students, 100% FRL); Newport Middle (math 39% / reading 56%, grade C-, #140 of 475 statewide, top 30%, 378 students, 98% FRL); West Carteret High (math 82% / reading 71%, grade A-, #89 of 535 statewide, top 16%, 1,146 students, 40% FRL) — zoned schools average 79% FRL vs 39% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 216 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).
• At $12,386/mo this rent would consume 212% of the median local household income ($70k/yr) (locally 461% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Carteret County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 21y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; list at $275k implies a 57% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 4.50% ✓
• Cap rate: 41.71%
• Cash-on-cash: 126.50%
• DSCR: 6.63
• GRM: 1.9

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: —
• Equity multiple: 7.14×
• Total profit: $472,484
• Equity at exit: $41,003

10-year hold

• IRR: —
• Equity multiple: 14.99×
• Total profit: $1,077,331
• Equity at exit: $23,777

Cash invested: $77,000 (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 28570

• Home prices YoY: -16.2%
• Active inventory: 216
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $12,386 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$111 /mo · $1,334/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,601
• Net cashflow: $8,117

Break-even live

Break-even rent $2,111

Max offer price $275,000

Occupancy floor 29%

Sensitivity live

Price	-10% $8,273	-5% $8,195	+0% $8,117	+5% $8,040	+10% $7,962
Rent	-10% $7,139	-5% $7,628	+0% $8,117	+5% $8,607	+10% $9,096
Rate	-1.0pp $8,256	-0.5pp $8,187	base $8,117	+0.5pp $8,046	+1.0pp $7,974

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-12
   statusdays on market $275,000 Pending 154 DOM
2. 2026-06-09
   days on market $275,000 Active 152 DOM
3. 2026-06-08
   days on market $275,000 Active 151 DOM
4. 2026-06-07
   days on market $275,000 Active 150 DOM
5. 2026-06-05
   days on market $275,000 Active 147 DOM
6. 2026-06-03
   days on market $275,000 Active 146 DOM
7. 2026-06-02
   days on market $275,000 Active 145 DOM
8. 2026-06-01
   days on market $275,000 Active 144 DOM
9. 2026-05-31
   days on market $275,000 Active 143 DOM
10. 2026-05-30
    days on market $275,000 Active 142 DOM
11. 2026-04-04
    price $275,000
12. 2026-01-08
    listed $295,000 Active
13. 2025-10-16
    status Active
14. 2025-10-09
    status Pending
15. 2025-10-09
    historical
16. 2025-09-30
    price $285,000
17. 2025-09-02
    price $290,000
18. 2025-06-30
    price $295,000
19. 2025-06-18
    price $305,000
20. 2025-06-10
    price $310,000
21. 2025-05-21
    listed $320,000 Active
22. 2025-05-04
    status Active
23. 2025-04-21
    status Pending
24. 2025-04-21
    historical
25. 2025-01-02
    price $310,000
26. 2024-12-05
    listed $325,000 Active
27. 2016-10-31
    soldstatus $175,000
28. 2014-04-13
    historical
29. 2012-04-13
    listed $165,000
30. 2011-05-07
    historical
31. 2010-05-05
    listed $165,000
32. 2009-07-23
    historical
33. 2009-02-23
    listed $175,000
34. 2008-07-07
    historical
35. 2007-09-24
    listed $189,900
36. 2005-08-31
    soldstatus $139,000
37. 2005-07-08
    listed $159,000
38. 2005-05-17
    soldstatus $27,000

ⓘ 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: $1,334 · $111/mo
• Projected year-2 tax: $2,255 · $188/mo
• Expected delta: +$921/yr (+$77/mo · 69.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 21 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: $148,637
• − Mortgage interest: −$15,404
• − Property taxes: −$1,334
• − Insurance: −$1,375
• − Repairs & maintenance: −$11,891
• − Management: −$11,891
• − Depreciation: −$8,000
• Taxable income: $98,742
• Est. tax owed @ 24.0%: −$23,698
• After-tax cash flow: $73,711/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: Carteret County Public Schools
• NCES district ID: 3700630
• Math proficiency: 59% ▲ 5.00%
• Reading proficiency: 61% ▲ 2.00%
• Median HH income: $48,330
• Composite: 50.92/100
• National rank: #1786
• State rank: #31 of 178 in NC

Livability — Newport

• Score: 63/100
• State rank: #385
• US rank: #15094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• City population: 22,197
• Metro: Morehead City, NC
• Population (ZIP): 22,197
• Household income: $70,229
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 461.0

Population outlook (Carteret County) Hauer SSP2

• Today (2025): 73,443 people
• By 2030: 75,344 · +2.6%
• By 2040: 78,142 · +6.4%
• By 2050: 80,091 · +9.1%
• By 2075: 86,120 · +17.3%
• By 2100: 89,408 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Carteret

• 2024 margin: Solid R (+43.1) · D 28.0% · R 71.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -34.7pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+42.0 2016: R+44.5 2012: R+41.0 2008: R+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.54%
• Current HPI: 276.6589
• 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

+918.5% since first listed

28 events — show timeline

• 2026-04-04 Price Changed $275,000 Hive MLS
• 2026-01-08 Listed $295,000 Hive MLS
• 2025-10-16 Relisted — Hive MLS
• 2025-10-09 Pending — Hive MLS
• 2025-10-09 Listing Removed — Hive MLS
• 2025-09-30 Price Changed $285,000 Hive MLS
• 2025-09-02 Price Changed $290,000 Hive MLS
• 2025-06-30 Price Changed $295,000 Hive MLS
• 2025-06-18 Price Changed $305,000 Hive MLS
• 2025-06-10 Price Changed $310,000 Hive MLS
• 2025-05-21 Listed $320,000 Hive MLS
• 2025-05-04 Relisted — Hive MLS
• 2025-04-21 Pending — Hive MLS
• 2025-04-21 Listing Removed — Hive MLS
• 2025-01-02 Price Changed $310,000 Hive MLS
• 2024-12-05 Listed $325,000 Hive MLS
• 2016-10-31 Sold (Public Records) $175,000 Public Records
• 2014-04-13 Listing Removed — Hive MLS
• 2012-04-13 Listed $165,000 Hive MLS
• 2011-05-07 Listing Removed — Hive MLS
• 2010-05-05 Listed $165,000 Hive MLS
• 2009-07-23 Listing Removed — Hive MLS
• 2009-02-23 Listed $175,000 Hive MLS
• 2008-07-07 Listing Removed — Hive MLS
• 2007-09-24 Listed $189,900 Hive MLS
• 2005-08-31 Sold (MLS) $139,000 Hive MLS
• 2005-07-08 Listed $159,000 Hive MLS
• 2005-05-17 Sold (Public Records) $27,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,334 · +30.3% YoY. Source: county tax records.