1768 Highway 24 · Newport, NC 28570

$325,000

3 bd · 2.0 ba · 1,497 sqft · Other public records · 134 Days on market

Built 1966 0.37 ac lot

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

Listing remarks

Coastal charm meets everyday comfort in this inviting 3-bedroom, 2-bath home featuring a versatile flex room just off the primary suite--perfect for a home office, nursery, fitness space, or cozy sitting area. The welcoming wrap-around porch sets the tone, offering the perfect spot to relax and enjoy the coastal breeze. Situated on a spacious lot, the fenced backyard and concrete driveway provide ample room for parking a boat, camper, 4-wheeler, or other outdoor equipment with ease. Inside, neutral coastal tones and abundant natural light create a bright, airy feel throughout the home. The kitchen is outfitted with stainless steel appliances and flows comfortably into the living areas, maki

Key facts

• Walk-in closet
• Laundry closet
• Wrap-around porch

Tags

• WRAP-AROUND PORCH
• FENCED BACKYARD
• CONCRETE DRIVEWAY
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• LAUNDRY CLOSET

Property features AI

Finance

• Other: Road frontage on city street and state road; Paved road access; Zoning: RA

Exterior

• Parking: Concrete and unpaved off-street parking; Tandem parking
• Utilities: Public water; Water connected; Septic tank sewer
• Home design: Single family residence; One-story; Entry level: 1
• Construction: Vinyl siding and frame construction; Block foundation; Shingle roof; Built with traditional framing
• Exterior features: Deck; Wrap-around deck/porch; Rear porch; Chain link fencing around back yard; Shed(s); Has view

Interior

• Kitchen: Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Wall/window unit(s); Electric forced air heating
• Interior features: Eat-in kitchen; Window coverings; Crawl space
• Laundry & utility: Washer; Dryer; Washer hookup; Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $325k.

Deal economics

• At list price, monthly cash flow is $8k ($96k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $325k).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.

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: Bogue Sound Elementary (math 63% / reading 63%, grade B, #168 of 1,410 statewide, top 12%, 467 students, 99% FRL); Broad Creek Middle (math 63% / reading 68%, grade A-, #28 of 475 statewide, top 6%, 710 students, 100% FRL); Croatan High (math 82% / reading 78%, grade A, #73 of 535 statewide, top 13%, 974 students, 26% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 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 $12,582/mo this rent would consume 215% 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 $10k 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 $91k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $90k; list at $325k implies a 261% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 3.87% ✓
• Cap rate: 35.96%
• Cash-on-cash: 105.96%
• DSCR: 5.71
• GRM: 2.2

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: 6.04×
• Total profit: $459,066
• Equity at exit: $48,459

10-year hold

• IRR: —
• Equity multiple: 12.63×
• Total profit: $1,058,625
• Equity at exit: $28,100

Cash invested: $91,000 (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: 2.2×

Monthly cashflow live

• Estimated rent: $12,582 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$65 /mo · $776/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,642
• Net cashflow: $8,035

Break-even live

Break-even rent $2,411

Max offer price $325,000

Occupancy floor 31%

Sensitivity live

Price	-10% $8,219	-5% $8,127	+0% $8,035	+5% $7,943	+10% $7,851
Rent	-10% $7,041	-5% $7,538	+0% $8,035	+5% $8,532	+10% $9,029
Rate	-1.0pp $8,199	-0.5pp $8,118	base $8,035	+0.5pp $7,951	+1.0pp $7,865

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $325,000 Active 134 DOM
2. 2026-06-18
   days on market $325,000 Active 133 DOM
3. 2026-06-17
   days on market $325,000 Active 132 DOM
4. 2026-06-16
   days on market $325,000 Active 131 DOM
5. 2026-06-15
   days on market $325,000 Active 130 DOM
6. 2026-06-14
   days on market $325,000 Active 128 DOM
7. 2026-06-12
   days on market $325,000 Active 127 DOM
8. 2026-06-09
   days on market $325,000 Active 124 DOM
9. 2026-06-08
   days on market $325,000 Active 123 DOM
10. 2026-06-07
    days on market $325,000 Active 122 DOM
11. 2026-06-05
    days on market $325,000 Active 119 DOM
12. 2026-06-03
    days on market $325,000 Active 118 DOM
13. 2026-06-02
    days on market $325,000 Active 117 DOM
14. 2026-06-01
    days on market $325,000 Active 116 DOM
15. 2026-05-31
    days on market $325,000 Active 115 DOM
16. 2026-05-30
    days on market $325,000 Active 114 DOM
17. 2026-05-14
    price $325,000
18. 2026-04-21
    status Active
19. 2026-03-20
    historical Active Under Contract
20. 2026-02-05
    listed $300,000 Active
21. 2022-06-17
    historical
22. 2022-03-09
    listed $264,900 Active
23. 2022-02-15
    historical
24. 2021-08-16
    listed $269,000
25. 2005-11-03
    soldstatus $90,000
26. 2003-08-21
    soldstatus $58,800
27. 2003-07-24
    soldstatus $58,800
28. 2003-07-23
    listed $65,000
29. 2003-03-25
    listed $65,000

ⓘ 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: $776 · $65/mo
• Projected year-2 tax: $2,665 · $222/mo
• Expected delta: +$1,889/yr (+$157/mo · 243.3%)

ⓘ 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 ≥102°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: $150,978
• − Mortgage interest: −$18,205
• − Property taxes: −$776
• − Insurance: −$1,625
• − Repairs & maintenance: −$12,078
• − Management: −$12,078
• − Depreciation: −$9,455
• Taxable income: $96,761
• Est. tax owed @ 24.0%: −$23,223
• After-tax cash flow: $73,197/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

+400.0% since first listed

13 events — show timeline

• 2026-05-14 Price Changed $325,000 Hive MLS
• 2026-04-21 Relisted — Hive MLS
• 2026-03-20 Contingent — Hive MLS
• 2026-02-05 Listed $300,000 Hive MLS
• 2022-06-17 Listing Removed — Hive MLS
• 2022-03-09 Listed $264,900 Hive MLS
• 2022-02-15 Listing Removed — Hive MLS
• 2021-08-16 Listed $269,000 Hive MLS
• 2005-11-03 Sold (Public Records) $90,000 Public Records
• 2003-08-21 Sold (MLS) $58,800 Hive MLS
• 2003-07-24 Sold (MLS) $58,800 Hive MLS
• 2003-07-23 Listed $65,000 Hive MLS
• 2003-03-25 Listed $65,000 Hive MLS

Property tax history

+3.2%/yr

Latest (2025): $776 · +47.3% YoY. Source: county tax records.