265 Yacht Club Dr · Broad Creek, NC 28570

$744,900

3 bd · 3.0 ba · 2,767 sqft · Other public records · 26 Days on market

Built 2003 0.59 ac lot $88/mo HOA · 1% of rent

---

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 MLS

Spacious home in popular, gated Bogue Sound Yacht Club subdivision with boat slip/lift #31 and boat ramp in marina. Home on nice, large corner lot with fenced back and side yard. .. plenty of room for kids and pets to play. Big plus. .. .Whole house generator! Open living room to dining area and kitchen with granite countertops, gas stove top, built in aquarium, plenty of cabinet/countertop space, plantation shutters, and bar stool area. Living room has vaulted ceiling, built in entertainment cabinet with gas logs and opens to back wrap around porch. First floor master suite with large walk in closet and bathroom with whirlpool tub, walk in shower, water closet, double sinks, linen closet and vanity area. Half bathroom off foyer. * * * Upstairs off foyer has bedrooms 2 and 3 each with double closets and a storage closet along with full hall bathroom. Separate stairway off laundry room/garage entry to home is a bonus room (contents convey). Sliding glass door off the dining area leads to a large sunroom with plantation shutters (separate 350 heated sq ft). All appliances convey along with living room tv/speaker equipment. Electric lift and large storage closet in garage. Plenty of driveway parking too. Home is ready for a new family to enjoy! Carteret County school district.

Key facts

• Jacuzzi garden tub
• 26 foot boat slip
• Tiled walk in shower

Tags

• 26 FOOT BOAT SLIP
• TWO STORY FOYER
• BUILT IN FRESHWATER AQUARIUM
• JACUZZI GARDEN TUB
• TILED WALK IN SHOWER
• WRAPAROUND FRONT PORCH

Property features AI

Finance

• Other: Located in Bogue Sound Yacht Club subdivision; Corner, open lot on a private paved road
• HOA & community: Homeowners association with annual fee; Annual association fee of $1,060 (about $88.33/month); Association amenities: gated access, management, marina

Exterior

• Parking: Attached 1-car garage; Paved parking
• Security: Gated community; Community marina
• Utilities: Well water; Septic tank; Water available; Generator for electric
• Home design: Single family residence; Two levels; Entry level: 1; Residential zoning
• Construction: Concrete, frame and vinyl siding construction; Shingle roof; Crawl space foundation; Built with accessibility features including exterior wheelchair lift
• Exterior features: Boat slip; Covered wrap-around porch; Storm door(s); Full backyard vinyl fencing; Irrigation equipment; Has view

Interior

• Kitchen: Gas cooktop; Dishwasher; Microwave; Refrigerator; Vented exhaust fan; Kitchen island; Electric water heater
• Bedrooms: Master downstair(s)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; Accessible full bath; Therapeutic whirlpool
• Heating & cooling: Heat pump heating; Electric heating; Zoned heating; Zoned cooling; Heat pump cooling
• Interior features: Master bedroom on the downstairs level; Walk-in closet(s); Entrance foyer; Kitchen island; Ceiling fan(s); Window coverings; Gas log fireplace; Unfurnished
• Laundry & utility: Washer; Dryer; Laundry room; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $745k.

Deal economics

• At list price, monthly cash flow is $5k ($64k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $745k).
• Recommended offer: $734k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 22.6% in Broad Creek — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 64/100 on livability (#340 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• 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 $12,426/mo this rent would consume 212% 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 $5k of loan paydown is wiped out by about $22k 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 $209k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($734k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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.
• Current owner paid $640k; 16% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $733,726 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.67% ✓
• Cap rate: 14.87%
• Cash-on-cash: 30.63%
• DSCR: 2.36
• GRM: 5.0

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: 25.3%
• Equity multiple: 2.05×
• Total profit: $218,152
• Equity at exit: $111,067

10-year hold

• IRR: 33.0%
• Equity multiple: 4.00×
• Total profit: $625,699
• Equity at exit: $64,405

Cash invested: $208,572 (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: 5.0×

Monthly cashflow live

• Estimated rent: $12,426 medium
• Mortgage (P&I): −$3,906
• Tax from tax record: −$188 /mo · $2,253/yr
• Insurance: −$310
• HOA: −$88
• Vacancy / Maint / Mgmt: −$2,609
• Net cashflow: $5,324

Break-even live

Break-even rent $5,687

Max offer price $744,900

Occupancy floor 52%

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: $186,225
• Closing costs: $22,347
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $88 · $1,056/yr
• Likely covers: watergaselectricpoolsecurity

Listing history 26 events

1. 2026-06-19
   pricedays on market $744,900 Active 26 DOM
2. 2026-06-18
   days on market $764,900 Active 25 DOM
3. 2026-06-17
   days on market $764,900 Active 24 DOM
4. 2026-06-16
   days on market $764,900 Active 23 DOM
5. 2026-06-15
   days on market $764,900 Active 22 DOM
6. 2026-06-14
   days on market $764,900 Active 20 DOM
7. 2026-06-12
   days on market $764,900 Active 19 DOM
8. 2026-06-09
   days on market $764,900 Active 16 DOM
9. 2026-06-08
   days on market $764,900 Active 15 DOM
10. 2026-06-07
    days on market $764,900 Active 14 DOM
11. 2026-06-05
    days on market $764,900 Active 11 DOM
12. 2026-06-03
    days on market $764,900 Active 10 DOM
13. 2026-06-02
    days on market $764,900 Active 9 DOM
14. 2026-06-01
    days on market $764,900 Active 8 DOM
15. 2026-05-31
    days on market $764,900 Active 7 DOM
16. 2026-05-30
    days on market $764,900 Active 6 DOM
17. 2026-05-23
    listed $764,900 Active
18. 2022-10-28
    soldstatus $640,000 Closed 1297-char remark

    Show marketing remark (1297 chars)

    Spacious home in popular, gated Bogue Sound Yacht Club subdivision with boat slip/lift #31 and boat ramp in marina. Home on nice, large corner lot with fenced back and side yard. .. plenty of room for kids and pets to play. Big plus. .. .Whole house generator! Open living room to dining area and kitchen with granite countertops, gas stove top, built in aquarium, plenty of cabinet/countertop space, plantation shutters, and bar stool area. Living room has vaulted ceiling, built in entertainment cabinet with gas logs and opens to back wrap around porch. First floor master suite with large walk in closet and bathroom with whirlpool tub, walk in shower, water closet, double sinks, linen closet and vanity area. Half bathroom off foyer. * * * Upstairs off foyer has bedrooms 2 and 3 each with double closets and a storage closet along with full hall bathroom. Separate stairway off laundry room/garage entry to home is a bonus room (contents convey). Sliding glass door off the dining area leads to a large sunroom with plantation shutters (separate 350 heated sq ft). All appliances convey along with living room tv/speaker equipment. Electric lift and large storage closet in garage. Plenty of driveway parking too. Home is ready for a new family to enjoy! Carteret County school district.

19. 2022-10-28
    soldstatus $640,000

    Show marketing remark (1297 chars)

    Spacious home in popular, gated Bogue Sound Yacht Club subdivision with boat slip/lift #31 and boat ramp in marina. Home on nice, large corner lot with fenced back and side yard. .. plenty of room for kids and pets to play. Big plus. .. .Whole house generator! Open living room to dining area and kitchen with granite countertops, gas stove top, built in aquarium, plenty of cabinet/countertop space, plantation shutters, and bar stool area. Living room has vaulted ceiling, built in entertainment cabinet with gas logs and opens to back wrap around porch. First floor master suite with large walk in closet and bathroom with whirlpool tub, walk in shower, water closet, double sinks, linen closet and vanity area. Half bathroom off foyer. * * * Upstairs off foyer has bedrooms 2 and 3 each with double closets and a storage closet along with full hall bathroom. Separate stairway off laundry room/garage entry to home is a bonus room (contents convey). Sliding glass door off the dining area leads to a large sunroom with plantation shutters (separate 350 heated sq ft). All appliances convey along with living room tv/speaker equipment. Electric lift and large storage closet in garage. Plenty of driveway parking too. Home is ready for a new family to enjoy! Carteret County school district.

20. 2022-09-09
    status Pending 1297-char remark

    Show marketing remark (1297 chars)

    Spacious home in popular, gated Bogue Sound Yacht Club subdivision with boat slip/lift #31 and boat ramp in marina. Home on nice, large corner lot with fenced back and side yard. .. plenty of room for kids and pets to play. Big plus. .. .Whole house generator! Open living room to dining area and kitchen with granite countertops, gas stove top, built in aquarium, plenty of cabinet/countertop space, plantation shutters, and bar stool area. Living room has vaulted ceiling, built in entertainment cabinet with gas logs and opens to back wrap around porch. First floor master suite with large walk in closet and bathroom with whirlpool tub, walk in shower, water closet, double sinks, linen closet and vanity area. Half bathroom off foyer. * * * Upstairs off foyer has bedrooms 2 and 3 each with double closets and a storage closet along with full hall bathroom. Separate stairway off laundry room/garage entry to home is a bonus room (contents convey). Sliding glass door off the dining area leads to a large sunroom with plantation shutters (separate 350 heated sq ft). All appliances convey along with living room tv/speaker equipment. Electric lift and large storage closet in garage. Plenty of driveway parking too. Home is ready for a new family to enjoy! Carteret County school district.

21. 2022-08-25
    listed $675,000 Active 1297-char remark

    Show marketing remark (1297 chars)

    Spacious home in popular, gated Bogue Sound Yacht Club subdivision with boat slip/lift #31 and boat ramp in marina. Home on nice, large corner lot with fenced back and side yard. .. plenty of room for kids and pets to play. Big plus. .. .Whole house generator! Open living room to dining area and kitchen with granite countertops, gas stove top, built in aquarium, plenty of cabinet/countertop space, plantation shutters, and bar stool area. Living room has vaulted ceiling, built in entertainment cabinet with gas logs and opens to back wrap around porch. First floor master suite with large walk in closet and bathroom with whirlpool tub, walk in shower, water closet, double sinks, linen closet and vanity area. Half bathroom off foyer. * * * Upstairs off foyer has bedrooms 2 and 3 each with double closets and a storage closet along with full hall bathroom. Separate stairway off laundry room/garage entry to home is a bonus room (contents convey). Sliding glass door off the dining area leads to a large sunroom with plantation shutters (separate 350 heated sq ft). All appliances convey along with living room tv/speaker equipment. Electric lift and large storage closet in garage. Plenty of driveway parking too. Home is ready for a new family to enjoy! Carteret County school district.

22. 2005-09-09
    soldstatus $531,000 436-char remark

    Show marketing remark (436 chars)

    26'BOAT SLIP with 15,000 lb. lift;Unique & exotic features in this custom home!Granite thru-out;bamboo hardwd flrs,tile,brushed nickel fixtures;built in aquarium;2 computerized energy managmnt systems-1 for 25 KW generator;wrap around porch;screened porch; 26 x 13 falcon chambers could be changed to sun room;koi pond with walkway thru it;irrigation system; big corner lot fenced yard...must see! Construction: Certainteed cedar sh

23. 2005-09-09
    soldstatus $531,000

    Show marketing remark (436 chars)

    26'BOAT SLIP with 15,000 lb. lift;Unique & exotic features in this custom home!Granite thru-out;bamboo hardwd flrs,tile,brushed nickel fixtures;built in aquarium;2 computerized energy managmnt systems-1 for 25 KW generator;wrap around porch;screened porch; 26 x 13 falcon chambers could be changed to sun room;koi pond with walkway thru it;irrigation system; big corner lot fenced yard...must see! Construction: Certainteed cedar sh

24. 2005-07-05
    listed $524,900 436-char remark

    Show marketing remark (436 chars)

    26'BOAT SLIP with 15,000 lb. lift;Unique & exotic features in this custom home!Granite thru-out;bamboo hardwd flrs,tile,brushed nickel fixtures;built in aquarium;2 computerized energy managmnt systems-1 for 25 KW generator;wrap around porch;screened porch; 26 x 13 falcon chambers could be changed to sun room;koi pond with walkway thru it;irrigation system; big corner lot fenced yard...must see! Construction: Certainteed cedar sh

25. 2003-07-25
    soldstatus $78,500
26. 2003-03-31
    listed $87,500

ⓘ 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: $2,253 · $188/mo
• Projected year-2 tax: $6,108 · $509/mo
• Expected delta: +$3,855/yr (+$321/mo · 171.1%)

ⓘ 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) · 16% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥102°F today · 21 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: $149,108
• − Mortgage interest: −$41,726
• − Property taxes: −$2,253
• − Insurance: −$3,724
• − Repairs & maintenance: −$11,929
• − Management: −$11,929
• − HOA: −$1,056
• − Depreciation: −$21,670
• Taxable income: $54,821
• Est. tax owed @ 24.0%: −$13,157
• After-tax cash flow: $50,728/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 — Broad Creek

• Score: 64/100
• State rank: #340
• US rank: #13718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• 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

+774.2% since first listed

10 events — show timeline

• 2026-05-23 Listed $764,900 Hive MLS
• 2022-10-28 Sold (Public Records) $640,000 Public Records
• 2022-10-28 Sold (MLS) $640,000 Hive MLS
• 2022-09-09 Pending — Hive MLS
• 2022-08-25 Listed $675,000 Hive MLS
• 2005-09-09 Sold (Public Records) $531,000 Public Records
• 2005-09-09 Sold (MLS) $531,000 Hive MLS
• 2005-07-05 Listed $524,900 Hive MLS
• 2003-07-25 Sold (MLS) $78,500 Hive MLS
• 2003-03-31 Listed $87,500 Hive MLS

Property tax history

+3.2%/yr

Latest (2025): $2,253 · +48.2% YoY. Source: county tax records.