116 Mainsail Ct Lot 8 · Duck, NC 27949

$62,000

4 bd · 3.5 ba · 2,554 sqft · Condo · 93 Days on market

Built 1985 ↓ 15% since listing

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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
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Chapman-Share 7. Why Consider Fractional Ownership? Fractional ownership allows individuals to own a vacation property for a fraction of the cost. Owners share the benefits of usage rights, income sharing, priority access, and reduced rates. Each share typically entitles the owner to 5 weeks of vacation time, rotating within the four seasons, with a double week that also rotates annually. Owners also share responsibility for the maintenance and upkeep of the property. Costs for improvements, repairs, or replacements are shared among the owners, usually through maintenance fees or assessments handled by a management company. Fractional owners are not required to use all their allotted time themselves. They can allow family members, friends, business associates, or employees to use some of their time. Additionally, they might rent out their remaining time to other owners or third parties who are not owners. This beautiful home with ocean and sound views is a perfect home for the entire family. Newly updated kitchen and spacious family rooms, sun decks to take in the warm sunshine. The location of this home is within walking distance to all of the community amenities Pool, tennis courts, playground, beach access and soundside pier. Ships Watch community is oceanfront to soundfront in the heart of Duck. The town of Duck offers watersport activities, restaurants, shopping and so much more just within walking distance.

Key facts

• Vacation property
• Oceanfront
• Soundfront

Tags

• VACATION PROPERTY
• BEACH ACCESS
• OCEANFRONT
• SOUNDFRONT
• WALKING DISTANCE

Property features AI

Finance

• HOA & community: Community pool; Playground; Association fees include cable TV, electricity, grounds maintenance, and water

Exterior

• Parking: Paved parking; Underground parking
• Security: Smoke detector(s)
• Utilities: Public water; Septic sewer
• Home design: Residential stock cooperative (co-ownership); RS-1 zoning
• Construction: Wood siding and frame construction; Asphalt roof
• Exterior features: Deck; Outdoor in-ground association pool; Cul-de-sac lot; Paved road; Private maintained road; Has view

Interior

• Kitchen: Range; Oven; Dishwasher; Ice maker; Microwave; Refrigerator
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: 3 full bathrooms; 1 half bathroom; 1 partial bathroom
• Heating & cooling: Heat pump; Central heating; Zoned heating; Central air; Zoned cooling
• Interior features: Wet bar; Furnished; Smoke detector(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath condo listed at $62k.

Deal economics

• At list price, monthly cash flow is $4k ($46k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $62k).
• Recommended offer: $56k (9.0% below list) — sets the bar for market timing.
• Cap rate 80.6% vs local median 1.2% in Duck — 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 69/100 on livability (#162 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, health & safety A+, crime A; Watch: amenities F, commute F, cost of living F.
• Dare County Schools (town): math 44% / reading 48% proficiency, ranked #77 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 126 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 371 units permitted in Dare County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $429 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dare County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $56,420 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 8.71% ✓
• Cap rate: 80.57%
• Cash-on-cash: 265.27%
• DSCR: 12.80
• GRM: 1.0

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: 14.51×
• Total profit: $234,449
• Equity at exit: $9,244

10-year hold

• IRR: —
• Equity multiple: 30.91×
• Total profit: $519,208
• Equity at exit: $5,361

Cash invested: $17,360 (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 27949

• Active inventory: 126
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $5,400 medium
• Mortgage (P&I): −$325
• Tax est. 1.5%: −$78 /mo · $930/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,134
• Net cashflow: $3,838

Break-even live

Break-even rent $542

Max offer price $62,000

Occupancy floor 24%

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Duck Ridge Village Ct Unit 2 Duck, NC	4.0	3.5	2700	$5,400	$2.00	21d	1	0.63mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $62,000 Active 93 DOM
2. 2026-06-17
   days on market $62,000 Active 92 DOM
3. 2026-06-16
   days on market $62,000 Active 91 DOM
4. 2026-06-15
   days on market $62,000 Active 90 DOM
5. 2026-06-13
   days on market $62,000 Active 88 DOM
6. 2026-06-12
   days on market $62,000 Active 87 DOM
7. 2026-06-09
   days on market $62,000 Active 84 DOM
8. 2026-06-08
   days on market $62,000 Active 83 DOM
9. 2026-06-07
   days on market $62,000 Active 82 DOM
10. 2026-06-07
    days on market $62,000 Active 81 DOM
11. 2026-06-04
    days on market $62,000 Active 78 DOM
12. 2026-06-02
    days on market $62,000 Active 77 DOM
13. 2026-06-01
    days on market $62,000 Active 76 DOM
14. 2026-05-31
    days on market $62,000 Active 75 DOM
15. 2026-03-17
    price $55,000 1436-char remark

    Show marketing remark (1436 chars)

    Chapman-Share 7. Why Consider Fractional Ownership? Fractional ownership allows individuals to own a vacation property for a fraction of the cost. Owners share the benefits of usage rights, income sharing, priority access, and reduced rates. Each share typically entitles the owner to 5 weeks of vacation time, rotating within the four seasons, with a double week that also rotates annually. Owners also share responsibility for the maintenance and upkeep of the property. Costs for improvements, repairs, or replacements are shared among the owners, usually through maintenance fees or assessments handled by a management company. Fractional owners are not required to use all their allotted time themselves. They can allow family members, friends, business associates, or employees to use some of their time. Additionally, they might rent out their remaining time to other owners or third parties who are not owners. This beautiful home with ocean and sound views is a perfect home for the entire family. Newly updated kitchen and spacious family rooms, sun decks to take in the warm sunshine. The location of this home is within walking distance to all of the community amenities Pool, tennis courts, playground, beach access and soundside pier. Ships Watch community is oceanfront to soundfront in the heart of Duck. The town of Duck offers watersport activities, restaurants, shopping and so much more just within walking distance.

16. 2026-03-17
    listed $62,000 Active

    Show marketing remark (1436 chars)

    Chapman-Share 7. Why Consider Fractional Ownership? Fractional ownership allows individuals to own a vacation property for a fraction of the cost. Owners share the benefits of usage rights, income sharing, priority access, and reduced rates. Each share typically entitles the owner to 5 weeks of vacation time, rotating within the four seasons, with a double week that also rotates annually. Owners also share responsibility for the maintenance and upkeep of the property. Costs for improvements, repairs, or replacements are shared among the owners, usually through maintenance fees or assessments handled by a management company. Fractional owners are not required to use all their allotted time themselves. They can allow family members, friends, business associates, or employees to use some of their time. Additionally, they might rent out their remaining time to other owners or third parties who are not owners. This beautiful home with ocean and sound views is a perfect home for the entire family. Newly updated kitchen and spacious family rooms, sun decks to take in the warm sunshine. The location of this home is within walking distance to all of the community amenities Pool, tennis courts, playground, beach access and soundside pier. Ships Watch community is oceanfront to soundfront in the heart of Duck. The town of Duck offers watersport activities, restaurants, shopping and so much more just within walking distance.

17. 2024-07-06
    listed $65,000 Active 1436-char remark

    Show marketing remark (1436 chars)

    Chapman-Share 7. Why Consider Fractional Ownership? Fractional ownership allows individuals to own a vacation property for a fraction of the cost. Owners share the benefits of usage rights, income sharing, priority access, and reduced rates. Each share typically entitles the owner to 5 weeks of vacation time, rotating within the four seasons, with a double week that also rotates annually. Owners also share responsibility for the maintenance and upkeep of the property. Costs for improvements, repairs, or replacements are shared among the owners, usually through maintenance fees or assessments handled by a management company. Fractional owners are not required to use all their allotted time themselves. They can allow family members, friends, business associates, or employees to use some of their time. Additionally, they might rent out their remaining time to other owners or third parties who are not owners. This beautiful home with ocean and sound views is a perfect home for the entire family. Newly updated kitchen and spacious family rooms, sun decks to take in the warm sunshine. The location of this home is within walking distance to all of the community amenities Pool, tennis courts, playground, beach access and soundside pier. Ships Watch community is oceanfront to soundfront in the heart of Duck. The town of Duck offers watersport activities, restaurants, shopping and so much more just within walking distance.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $64,800
• − Mortgage interest: −$3,473
• − Property taxes: −$930
• − Insurance: −$310
• − Repairs & maintenance: −$5,184
• − Management: −$5,184
• − Depreciation: −$1,804
• Taxable income: $47,915
• Est. tax owed @ 24.0%: −$11,500
• After-tax cash flow: $34,551/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: Dare County Schools
• NCES district ID: 3701110
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $54,233
• Composite: 39.86/100
• National rank: #3866
• State rank: #77 of 178 in NC

Livability — Duck

• Score: 69/100
• State rank: #162
• US rank: #8831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Duck, NC
• Population (ZIP): 8,094

Population outlook (Dare County) Hauer SSP2

• Today (2025): 39,201 people
• By 2030: 40,756 · +4.0%
• By 2040: 43,015 · +9.7%
• By 2050: 44,477 · +13.5%
• By 2075: 48,522 · +23.8%
• By 2100: 50,980 · +30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Slovak 4% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Dare

• 2024 margin: R (+18.8) · D 40.1% · R 58.9%
• 2008→2024 swing: -9.5pp toward R · 2008: -9.2pp · 2024: -18.8pp
• All cycles: 2024: R+18.8 2020: R+16.5 2016: R+22.1 2012: R+16.1 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -196.21%
• Current HPI: 274.0118
• Rent YoY: —
• Metro: —
• 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

-15.4% since first listed

3 events — show timeline

• 2026-03-17 Price Changed $55,000 OBMLS
• 2026-03-17 Listed $62,000 OBMLS
• 2024-07-06 Listed $65,000 OBMLS