796 Pantego Blvd SE · Oak Island, NC 28422

$345,900

4 bd · 2.5 ba · 2,307 sqft · Land · 815 Days on market

Built 2025 10,280 sqft lot $75/mo HOA · 3% of rent

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.2/30.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks

RECENTLY COMPLETED, NEW CONSTRUCTION IN MILL CREEK! A beautiful marsh view community surrounded by nature and just 10 minutes from the beaches. This 2307 two-story plan features 4 bedrooms and 2.5 baths. The home offers an open-concept floor plan with a modern kitchen, breakfast nook, family room with electric fireplace, and a formal dining room. The property backs up to the woods, creating a private setting that's perfect for relaxing evenings or entertaining outdoors. Upstairs, the spacious primary suite includes an oversized walk-in closet, while three additional bedrooms, the laundry room, and extra storage complete the second floor. Homeowners in Mill Creek Cove enjoy resort-style amen

Key facts

• 0.24 acre lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Zoning: R75
• HOA & community: Homeowners association with annual fee of $900 (about $75/month); Community pool; Clubhouse; Fitness center; Tennis courts

Exterior

• Parking: 2 parking spaces; Attached 2-car garage with front-facing garage; On-site parking
• Security: Smoke detectors
• Utilities: Public water; Sewer available; Water available
• Home design: Single family residence; Two levels; Residential property; New construction
• Construction: Stone, vinyl siding, and frame construction; Raised foundation
• Exterior features: Patio; Porch; Shingle roof; No fencing; Has view

Interior

• Kitchen: Kitchen island
• Bedrooms: Total rooms: 7
• Bathrooms: 2 full bathrooms; 1 half bathroom; Accessible full bath
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning; Heat pump cooling
• Interior features: Walk-in closets; High ceilings; Entrance foyer; Kitchen island; Ceiling fans

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $346k.

Deal economics

• At list price, monthly cash flow is $-635 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (26.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (33.0% below list).
• Recommended offer: $232k (33.0% below list) — sets the bar for 1% rule.
• Cap rate 4.1% vs local median 2.8% in Oak Island — 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 67/100 on livability (#233 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment 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: Virginia Williamson Elem (math 50% / reading 49%, grade D, #417 of 1,410 statewide, top 32%, 502 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 students, 100% FRL) — zoned schools average 99% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 569 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 40% of the median local income ($69k/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 $2k of loan paydown is wiped out by about $10k 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

• It's been on market 815 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y 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; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $231,746 (33.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 815 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.67% ✗
• Cap rate: 4.09%
• Cash-on-cash: -7.86%
• DSCR: 0.65
• GRM: 12.4

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: -30.0%
• Equity multiple: 0.00×
• Total profit: $-96,390
• Equity at exit: $51,575

10-year hold

• IRR: -31.4%
• Equity multiple: -0.40×
• Total profit: $-135,654
• Equity at exit: $29,907

Cash invested: $96,852 (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 28422

• Home prices YoY: -23.8%
• Active inventory: 569
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,317 medium
• Mortgage (P&I): −$1,814
• Tax est. 1.5%: −$432 /mo · $5,188/yr
• Insurance: −$144
• HOA: −$75
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $-635

Break-even live

Break-even rent $3,121

Max offer price $254,066

Occupancy floor —

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: $86,475
• Closing costs: $10,377
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2502 Kenton Ct SE Bolivia, NC	4.0	2.0	1601	$1,895	$1.18	23d	1	0.19mi
2617 Provence Dr SE Bolivia, NC	4.0	2.0	1776	$1,920	$1.08	23d	1	0.26mi
2537 Provence Dr SE Bolivia, NC	4.0	2.0	1607	$1,895	$1.18	23d	1	0.30mi
2140 Bella Point Dr SE Bolivia, NC	4.0	2.0	1774	$2,300	$1.30	23d	1	1.39mi

HOA detail

• Monthly dues: $75 · $900/yr
• Likely covers: electric

Listing history 27 events

1. 2026-05-01
   status Pending
2. 2026-03-26
   status Active
3. 2026-03-26
   historical
4. 2026-03-20
   price $345,900
5. 2025-12-13
   status Active
6. 2025-12-12
   historical
7. 2025-12-12
   price $360,900
8. 2025-12-06
   status Active
9. 2025-12-03
   historical
10. 2025-10-13
    price $370,900
11. 2025-01-11
    price $385,900
12. 2024-11-20
    price $375,900
13. 2024-09-04
    price $369,900
14. 2024-06-09
    price $366,900
15. 2024-05-30
    price $361,900
16. 2024-02-03
    listed $351,900 Active
17. 2023-10-06
    soldstatus $793,000
18. 2018-05-07
    soldstatus $1,250,000
19. 2017-01-19
    soldstatus $3,200,000
20. 2010-09-15
    historical
21. 2010-06-28
    listed $22,000
22. 2009-07-01
    historical
23. 2009-04-09
    listed $159,900
24. 2008-10-28
    historical
25. 2008-10-28
    historical
26. 2008-06-25
    listed $159,900
27. 2008-04-28
    listed $159,900

ⓘ 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 3/10 Moderate FEMA zone X (shaded) · 12% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,810
• − Mortgage interest: −$19,376
• − Property taxes: −$5,188
• − Insurance: −$1,730
• − Repairs & maintenance: −$2,225
• − Management: −$2,225
• − HOA: −$900
• − Depreciation: −$10,063
• Taxable loss: −$13,896
• Est. tax savings @ 24.0%: +$3,335
• After-tax cash flow: $-4,281/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 — Oak Island

• Score: 67/100
• State rank: #233
• US rank: #10757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 8,756
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 10,059
• Household income: $69,412
• Rent vs Own: 13.7% rent · 86.3% own
• Severe rent burden: 243.0

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 (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 8% Hispanic / Latino 3% Native American 1%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -44.19%
• Current HPI: 141.1956
• 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

+116.3% since first listed

27 events — show timeline

• 2026-05-01 Pending — Hive MLS
• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-03-20 Price Changed $345,900 Hive MLS
• 2025-12-13 Relisted — Hive MLS
• 2025-12-12 Listing Removed — Hive MLS
• 2025-12-12 Price Changed $360,900 Hive MLS
• 2025-12-06 Relisted — Hive MLS
• 2025-12-03 Listing Removed — Hive MLS
• 2025-10-13 Price Changed $370,900 Hive MLS
• 2025-01-11 Price Changed $385,900 Hive MLS
• 2024-11-20 Price Changed $375,900 Hive MLS
• 2024-09-04 Price Changed $369,900 Hive MLS
• 2024-06-09 Price Changed $366,900 Hive MLS
• 2024-05-30 Price Changed $361,900 Hive MLS
• 2024-02-03 Listed $351,900 Hive MLS
• 2023-10-06 Sold (Public Records) $793,000 Public Records
• 2018-05-07 Sold (Public Records) $1,250,000 Public Records
• 2017-01-19 Sold (Public Records) $3,200,000 Public Records
• 2010-09-15 Listing Removed — Hive MLS
• 2010-06-28 Listed $22,000 Hive MLS
• 2009-07-01 Listing Removed — Hive MLS
• 2009-04-09 Listed $159,900 Hive MLS
• 2008-10-28 Listing Removed — Hive MLS
• 2008-10-28 Listing Removed — Hive MLS
• 2008-06-25 Listed $159,900 Hive MLS
• 2008-04-28 Listed $159,900 Hive MLS

Property tax history

+11.1%/yr

Latest (2025): $119 · +0.0% YoY. Source: county tax records.