131 Pineway St NE

Brunswick, NC 28472

$180,000C

3 bd · 3.0 ba · 1,622 sqft · Built 1980 · SingleFamily · Active · 146 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,700/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $232/mo
• Annual: $2,783/yr
• Cap rate: 7.84%
• Cash-on-cash: 5.52%
• DSCR: 1.25
• 1% rule: 0.94%
• Cash to close: $50,400

Investor read

• This is a 3-bed/3.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (5.6% below list).
• It's been on market 146 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#611 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A-; Watch: health & safety C-, housing D+, amenities F.
• Whiteville City Schools (town): math 49% / reading 46% proficiency, ranked #81 of 178 in NC (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Edgewood Elementary (math 49% / reading 43%, grade D-, #551 of 1,410 statewide, top 40%, 454 students, 99% FRL); Central Middle (math 46% / reading 45%, grade D+, #154 of 475 statewide, top 33%, 462 students, 99% FRL); Whiteville High (math 57% / reading 57%, grade C, #248 of 535 statewide, top 48%, 662 students, 99% FRL) — zoned schools average 99% FRL vs 74% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 114 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 24 units permitted in Columbus County in 2024 (0 in 5+ unit buildings).
• Columbus County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.