1099 Fryar Ave · Leland, NC 28451

$279,900

4 bd · 3.0 ba · 1,243 sqft · Townhouse · 194 Days on market

Built 2026 Fair condition Garage $225/sqft · 15% below area Est $331k · 15% under

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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 +14.4/15.0
• Cash flow +9.2/30.0
• Schools +4.8/10.0
• Livability +3.4/5.0
• 1% rule +2.8/10.0
• Rent growth +2.8/5.0
• DSCR +2.6/10.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy easy, resort-style living in this charming villa in the Villas at Osprey Reserve within the Terrapin master-planned community. The popular Eastlyn floor plan offers convenient living with 4 bedrooms, 3 baths, a versatile loft, and 1,731 sq ft of thoughtfully designed space. The open-concept layout seamlessly connects the kitchen, dining, and living areas--perfect for everyday living and entertaining. Residents enjoy exceptional amenities including two pools, pickleball courts, a fitness center, clubhouse, walking trails, and green spaces.

Key facts

• Green spaces
• Golf cart friendly
• Open concept layout

Tags

• OPEN CONCEPT LAYOUT
• EXCEPTIONAL AMENITIES
• GOLF CART FRIENDLY
• WALKING TRAILS
• GREEN SPACES

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $280k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (10.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (22.1% below list).
• Recommended offer: $218k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.2% in Leland — 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 68/100 on livability (#177 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment 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: Town Creek Elementary (math 50% / reading 53%, grade C-, #392 of 1,410 statewide, top 28%, 654 students, 100% FRL); Leland Middle (math 26% / reading 36%, grade F, #326 of 475 statewide, top 69%, 780 students, 100% FRL); North Brunswick High (math 57% / reading 49%, grade C-, #281 of 535 statewide, top 53%, 1,450 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: Rents rising (+1.2%/yr); 2008 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 32% of the median local income ($81k/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 $8k 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 194 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.

Recommended offer $218,071 (22.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.78% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.24%
• DSCR: 0.86
• GRM: 10.7

CMA / ARV

• ARV (median comp): $330,647
• List price: $279,900
• Delta: -15.35%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Fryar Ave #100	0.00mi	3/2.0 (-1)	1,241 (-0%)	3mo	$330,647	$266	88
1026 Fryar Ave #75	0.09mi	3/2.0 (-1)	1,498 (+20%)	11mo	$402,770	$269	53
2220 Sandbrook Loop	0.28mi	3/2.0 (-1)	1,458 (+17%)	1mo	$379,000	$260	52
3132 Gresham Pl	0.29mi	3/2.0 (-1)	1,458 (+17%)	0mo	$375,000	$257	52
4017 Morning Dew Path	0.35mi	3/2.0 (-1)	1,483 (+19%)	1mo	$354,900	$239	49
4029 Morning Dew Path	0.32mi	3/2.0 (-1)	1,483 (+19%)	4mo	$353,900	$239	48
4025 Morning Dew Path	0.34mi	3/2.0 (-1)	1,510 (+22%)	5mo	$374,900	$248	46
4008 Smoked Maple Dr #62	0.34mi	3/2.0 (-1)	1,498 (+20%)	4mo	$399,900	$267	46
1059 Hanson Dr	0.63mi	3/2.0 (-1)	1,387 (+12%)	2mo	$298,000	$215	41
1062 Hanson Dr	0.65mi	3/2.0 (-1)	1,387 (+12%)	3mo	$295,000	$213	38
1086 Hanson Dr	0.65mi	3/2.0 (-1)	1,387 (+12%)	4mo	$295,000	$213	38
1099 Hanson Dr	0.63mi	3/2.0 (-1)	1,387 (+12%)	8mo	$298,140	$215	36

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -23.7%
• Equity multiple: 0.20×
• Total profit: $-62,592
• Equity at exit: $41,734

10-year hold

• IRR: -24.2%
• Equity multiple: -0.11×
• Total profit: $-86,754
• Equity at exit: $24,201

Cash invested: $78,372 (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: 4 active · 3 under contract
• Months of supply: 24.0 mo (4%/mo absorbed)
• Median asking: $304,955 ($245/sqft)
• Median days on market: 97 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +8.4% vs current asking $/sqft

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

ZIP-level market 28451

• Rents YoY: 1.2%
• Active inventory: 2008
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,181 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $-212

Break-even live

Break-even rent $2,449

Max offer price $249,287

Occupancy floor —

Sensitivity live

Price	-10% $-18	-5% $-115	+0% $-212	+5% $-308	+10% $-405
Rent	-10% $-384	-5% $-298	+0% $-212	+5% $-125	+10% $-39
Rate	-1.0pp $-71	-0.5pp $-140	base $-212	+0.5pp $-284	+1.0pp $-358

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: $69,975
• Closing costs: $8,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1059 Hanson Dr Leland, NC	3.0	2.0	1387	$1,950	$1.41	46d	1	0.62mi

Property features AI

Finance

• Financial info: List price $320,117

Exterior

• Parking: 1 garage space (1 parking space total)
• Home design: Single-family residenceActive listing
• Exterior features: Living area of 1,243 (indoor living space)

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: Spec home (Eastlyn EXT plan)

Listing history 50 events

1. 2026-11-08
   days on market $279,900 Active 194 DOM
2. 2026-11-07
   days on market $279,900 Active 193 DOM
3. 2026-11-06
   days on market $279,900 Active 192 DOM
4. 2026-11-05
   days on market $279,900 Active 191 DOM
5. 2026-11-04
   days on market $279,900 Active 190 DOM
6. 2026-11-02
   days on market $279,900 Active 188 DOM
7. 2026-11-01
   days on market $279,900 Active 187 DOM
8. 2026-10-31
   days on market $279,900 Active 186 DOM
9. 2026-10-30
   days on market $279,900 Active 185 DOM
10. 2026-10-29
    days on market $279,900 Active 184 DOM
11. 2026-10-28
    days on market $279,900 Active 183 DOM
12. 2026-10-27
    days on market $279,900 Active 182 DOM
13. 2026-10-26
    days on market $279,900 Active 181 DOM
14. 2026-10-26
    days on market $279,900 Active 180 DOM
15. 2026-10-24
    days on market $279,900 Active 179 DOM
16. 2026-10-23
    days on market $279,900 Active 178 DOM
17. 2026-10-22
    days on market $279,900 Active 177 DOM
18. 2026-10-21
    days on market $279,900 Active 176 DOM
19. 2026-10-20
    days on market $279,900 Active 175 DOM
20. 2026-10-19
    days on market $279,900 Active 174 DOM
21. 2026-10-18
    days on market $279,900 Active 173 DOM
22. 2026-10-17
    days on market $279,900 Active 172 DOM
23. 2026-10-16
    days on market $279,900 Active 171 DOM
24. 2026-10-15
    days on market $279,900 Active 170 DOM
25. 2026-10-14
    days on market $279,900 Active 169 DOM
26. 2026-10-13
    days on market $279,900 Active 168 DOM
27. 2026-10-12
    days on market $279,900 Active 167 DOM
28. 2026-10-11
    days on market $279,900 Active 166 DOM
29. 2026-10-11
    price $279,900 Active 165 DOM
30. 2026-10-10
    days on market $289,900 Active 165 DOM
31. 2026-10-09
    days on market $289,900 Active 164 DOM
32. 2026-10-09
    price $289,900 Active 163 DOM
33. 2026-10-08
    days on market $299,900 Active 163 DOM
34. 2026-10-07
    days on market $299,900 Active 162 DOM
35. 2026-10-06
    days on market $299,900 Active 161 DOM
36. 2026-10-05
    days on market $299,900 Active 160 DOM
37. 2026-10-04
    days on market $299,900 Active 159 DOM
38. 2026-10-03
    days on market $299,900 Active 158 DOM
39. 2026-10-02
    days on market $299,900 Active 157 DOM
40. 2026-10-01
    days on market $299,900 Active 156 DOM
41. 2026-09-30
    days on market $299,900 Active 155 DOM
42. 2026-09-29
    days on market $299,900 Active 154 DOM
43. 2026-09-28
    days on market $299,900 Active 153 DOM
44. 2026-09-27
    days on market $299,900 Active 152 DOM
45. 2026-09-26
    days on market $299,900 Active 150 DOM
46. 2026-09-24
    days on market $299,900 Active 149 DOM
47. 2026-09-23
    days on market $299,900 Active 148 DOM
48. 2026-09-22
    days on market $299,900 Active 147 DOM
49. 2026-09-21
    days on market $299,900 Active 146 DOM
50. 2026-09-20
    days on market $299,900 Active 145 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: $26,169
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,093
• − Management: −$2,093
• − Depreciation: −$8,143
• Taxable loss: −$7,438
• Est. tax savings @ 24.0%: +$1,785
• After-tax cash flow: $-754/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 · 0 photos

Fair 40/100 Moderate rehab Est. rehab $31,075–$55,935 screening

This townhouse requires significant repairs and updates to its kitchen, bathrooms, and exterior, but presents a good opportunity for investment with potential for substantial value increase.

Repairs flagged

• Major Kitchen countertops — Significant wear and tear, possibly requiring replacement.
• Major Bathroom fixtures — Outdated and possibly in need of replacement.
• Major Flooring — Worn and may need replacement or refinishing.
• Major Interior walls — Significant discoloration and wear, possibly requiring repainting or repairs.
• Major Exterior siding — Signs of wear and discoloration, possibly requiring repainting or replacement.
• Major Windows — Old and may need replacement or caulking.

Value-add opportunities

• Resale Kitchen renovation — A fresh, modern kitchen can significantly increase the home's appeal to potential buyers. ↑
• Resale Bathroom updates — Upgrading outdated fixtures and possibly adding modern amenities can boost resale value. ↑
• Resale Flooring replacement — New flooring can enhance the home's overall appearance and increase its marketability. ↑
• Both Exterior painting — Fresh paint can improve curb appeal and add value to both resale and rental markets. ↑
• Both Landscaping — A well-maintained and aesthetically pleasing landscape can increase the home's value and attract more tenants. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Town Creek Elementary C- NC #392/1,410 Nat'l #12,137/41,679 Middle Town Creek Middle F NC #238/475 Nat'l #6,362/14,009 High North 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 68/100

Livability — Leland

• Score: 68/100
• State rank: #177
• US rank: #9158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 152,111 people
• City population: 46,933
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 46,933
• Household income: $81,481
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 8% 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 (71%)
• Race & ethnicity: White 71% Black 12% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 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: ▼ -99.99%
• Current HPI: 148.6217
• Rent YoY: ▲ 1.24%
• 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

• Financial info: List price $320,117

Exterior

• Parking: 1 garage space (1 parking space total)
• Home design: Single-family residenceActive listing
• Exterior features: Living area of 1,243 (indoor living space)

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: Spec home (Eastlyn EXT plan)