1077 River Dr SW · Calabash, NC 28467

$200,000

3 bd · 2.0 ba · 1,488 sqft · SingleFamily public records · 6 Days on market

Built 1999 10,019 sqft lot Est $310k · 35% under

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Why this score? — see what drove the C+ 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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.1/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special with $350K+ ARV Potential! This single-story brick home offers 3 bedrooms, 2 bathrooms, and plenty of value-add opportunity for the right buyer. Featuring a practical layout, brick exterior, and a back deck overlooking the pond, this property has the potential to become something special. The backyard setting adds a peaceful touch, making it easy to imagine morning coffee, evening sunsets, or a future outdoor entertaining space. Whether you're looking for your next renovation project, rental opportunity, or a home to customize and build equity, this house is ready for your vision. With an estimated ARV of $350K+, this property offers strong upside potential in a desirable s

Key facts

• Overlooking the pond
• Brick exterior
• Back deck

Tags

• BRICK EXTERIOR
• BACK DECK
• OVERLOOKING THE POND
• BACKYARD SETTING
• OUTDOOR ENTERTAINING SPACE
• RENOVATION PROJECT

Property features AI

Exterior

• Parking: Attached garage (1 garage space); One total parking space; Concrete and off-street parking
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single-family residence; One-story (entry level 1)
• Construction: Brick veneer and frame construction; Shingle roof; Built on crawl space
• Exterior features: Deck; Paved road frontage on city street and state road; Pond waterfront with views

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric heating with heat pump
• Interior features: Vaulted ceilings; Crawl space (no finished basement)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 8.5% vs local median 4.1% in Calabash — 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 61/100 on livability (#487 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime 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: 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: 691 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 ($75k/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 $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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $138k; 44% 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.71%
• DSCR: 1.34
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $309,504
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1069 River Dr SW	0.06mi	3/2.0	1,474 (-1%)	0mo	$375,000	$254	95
1061 Mille Ave SW	0.16mi	3/2.0	1,490 (+0%)	1mo	$209,000	$140	92
1074 Wilson Ave SW	0.27mi	3/2.0	1,311 (-12%)	3mo	$294,000	$224	65
468 Goldenrod Ter Lot 60	0.23mi	3/2.0	1,677 (+13%)	6mo	$330,703	$197	63
3007 Tasso Dr SW Lot 8- Cameron C	0.59mi	4/2.0 (+1)	1,500 (+1%)	4mo	$312,000	$208	63
3007 Tasso Dr	0.60mi	4/2.0 (+1)	1,500 (+1%)	4mo	$312,000	$208	62
1011 High Point Ave SW	0.31mi	3/2.0	1,651 (+11%)	9mo	$336,500	$204	60
1127 Petty Dr	0.59mi	3/2.0	1,456 (-2%)	10mo	$257,750	$177	60
1013 High Point Ave SW	0.29mi	3/2.0	1,651 (+11%)	11mo	$349,900	$212	59
1533 Coastal Cove Ln	0.26mi	2/2.0 (-1)	1,313 (-12%)	9mo	$500,000	$381	56
1169 Pine Bur Cir SW	0.59mi	3/2.0	1,623 (+9%)	8mo	$379,000	$234	50
836 Greenwood Ct	0.71mi	2/2.0 (-1)	1,578 (+6%)	10mo	$285,000	$181	43

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-9,566
• Equity at exit: $29,821

10-year hold

• IRR: 5.1%
• Equity multiple: 1.37×
• Total profit: $20,913
• Equity at exit: $17,292

Cash invested: $56,000 (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 28467

• Home prices YoY: -33.7%
• Active inventory: 691
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,015 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$100 /mo · $1,201/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $360

Break-even live

Break-even rent $1,560

Max offer price $200,000

Occupancy floor 77%

Sensitivity live

Price	-10% $473	-5% $416	+0% $360	+5% $303	+10% $246
Rent	-10% $200	-5% $280	+0% $360	+5% $439	+10% $519
Rate	-1.0pp $460	-0.5pp $410	base $360	+0.5pp $308	+1.0pp $255

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1086 Mille Ave Calabash, NC	3.0	2.0	1232	$2,000	$1.62	24d	1	0.08mi
1420 Sherman Dr Calabash, NC	2.0–3.0	1.0–2.0	1011	$770	$0.76	15d	3	0.55mi
834 Greenwood Ct Calabash, NC	3.0	2.0	1475	$2,100	$1.42	15d	1	0.71mi
7112 Town Center Rd Sunset Beach, NC	1.0–2.0	1.0–2.0	955	$1,400	$1.47	15d	13	0.76mi
1063 Harbor Dr Calabash, NC	3.0	2.0	1421	$2,200	$1.55	22d	1	0.90mi
660 Aubrey Ln Calabash, NC	1.0–2.0	1.0–2.0	1081	$2,870	$2.65	15d	69	1.01mi
908 Resort Cir Unit 1 Sunset Beach, NC	3.0	2.0	1301	$1,500	$1.15	15d	1	1.12mi
891 Mh Marina Rd #3 Carolina Shores, NC	2.0	2.0	1250	$1,300	$1.04	15d	1	1.19mi
1016 Harbor Dr Calabash, NC	4.0	2.0	1780	$2,400	$1.35	15d	1	1.32mi
1035 Brightwater Way Calabash, NC	1.0–3.0	1.0–2.5	1327	$2,145	$1.62	24d	1	1.32mi

Listing history 2 events

1. 2026-05-21
   listed $200,000 Active
2. 2000-04-01
   soldstatus $138,500

ⓘ 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: $1,201 · $100/mo
• Projected year-2 tax: $1,640 · $137/mo
• Expected delta: +$439/yr (+$37/mo · 36.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,181
• − Mortgage interest: −$11,203
• − Property taxes: −$1,201
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$5,818
• Taxable income: $1,089
• Est. tax owed @ 24.0%: −$261
• After-tax cash flow: $4,054/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 — Calabash

• Score: 61/100
• State rank: #487
• US rank: #17866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calabash, NC
• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 13,313
• Household income: $75,341
• Rent vs Own: 10.4% rent · 89.6% own
• Severe rent burden: 81.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -67.90%
• Current HPI: 133.7186
• Rent YoY: —
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-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

+44.4% since first listed

2 events — show timeline

• 2026-05-21 Listed $200,000 Hive MLS
• 2000-04-01 Sold (Public Records) $138,500 Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,201 · +2.5% YoY. Source: county tax records.