213 Nine Mile Rd · Broad Creek, NC 28570

$275,000

3 bd · 1.0 ba · 1,456 sqft · Other public records · 128 Days on market

Built 1982 0.46 ac lot

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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
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Beautiful home ready to move in. Recently renovated with lots of upgrades. Room for everyone with both a den and living room. A bright kitchen with all new Stainless appliances overlooks the fenced back yard and above ground POOL. Close to the beach from both Atlantic beach and Emerald isle also minutes away from Osprey Marina.

Key facts

• 0.46 acre lot
• Built 1982
• Listed 127 days

Property features AI

Exterior

• Parking: On-site concrete parking
• Security: Smoke detectors
• Utilities: Public water; Water available; Septic sewer
• Home design: Single-family residence; Two levels; Residential property
• Construction: Brick and wood siding with frame construction; Slab foundation
• Exterior features: Covered patio; Patio; Chain link fence around the backyard; Property has a view; Shingle roof

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher; Microwave
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Ceiling fans; Pantry; Window coverings
• Laundry & utility: Washer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $275k.

Deal economics

• At list price, monthly cash flow is $8k ($100k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.
• Cap rate 42.6% vs local median 22.6% in Broad Creek — 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 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 $12,600/mo this rent would consume 215% 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 $2k of loan paydown is wiped out by about $8k 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 $77k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $230k; 20% 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; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 4.58% ✓
• Cap rate: 42.64%
• Cash-on-cash: 129.80%
• DSCR: 6.78
• GRM: 1.8

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: 7.31×
• Total profit: $485,912
• Equity at exit: $41,003

10-year hold

• IRR: —
• Equity multiple: 15.37×
• Total profit: $1,106,252
• Equity at exit: $23,777

Cash invested: $77,000 (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 28570

• Home prices YoY: -16.2%
• Active inventory: 216
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $12,600 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$69 /mo · $827/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,646
• Net cashflow: $8,329

Break-even live

Break-even rent $2,058

Max offer price $275,000

Occupancy floor 29%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-19
   days on market $275,000 Active 128 DOM
2. 2026-06-18
   days on market $275,000 Active 127 DOM
3. 2026-06-17
   days on market $275,000 Active 126 DOM
4. 2026-06-16
   days on market $275,000 Active 125 DOM
5. 2026-06-15
   days on market $275,000 Active 124 DOM
6. 2026-06-14
   days on market $275,000 Active 122 DOM
7. 2026-06-12
   days on market $275,000 Active 121 DOM
8. 2026-06-09
   days on market $275,000 Active 118 DOM
9. 2026-06-08
   days on market $275,000 Active 117 DOM
10. 2026-06-07
    days on market $275,000 Active 116 DOM
11. 2026-06-05
    days on market $275,000 Active 113 DOM
12. 2026-06-03
    days on market $275,000 Active 112 DOM
13. 2026-06-02
    days on market $275,000 Active 111 DOM
14. 2026-06-01
    days on market $275,000 Active 110 DOM
15. 2026-05-31
    days on market $275,000 Active 109 DOM
16. 2026-05-30
    days on market $275,000 Active 108 DOM
17. 2026-04-30
    price $275,000
18. 2026-03-26
    price $280,000
19. 2026-02-11
    listed $290,000 Active
20. 2025-10-10
    price $289,000
21. 2025-09-25
    price $294,500
22. 2025-08-11
    price $299,500
23. 2025-07-08
    price $310,000
24. 2025-07-01
    status Active
25. 2025-07-01
    price $315,000
26. 2025-06-02
    status Pending
27. 2025-06-02
    historical
28. 2025-05-19
    price $330,500
29. 2025-05-01
    listed $335,500 Active
30. 2023-04-24
    soldstatus $230,000 Closed 329-char remark

    Show marketing remark (329 chars)

    Beautiful home ready to move in. Recently renovated with lots of upgrades. Room for everyone with both a den and living room. A bright kitchen with all new Stainless appliances overlooks the fenced back yard and above ground POOL. Close to the beach from both Atlantic beach and Emerald isle also minutes away from Osprey Marina.

31. 2023-04-24
    soldstatus $230,000

    Show marketing remark (329 chars)

    Beautiful home ready to move in. Recently renovated with lots of upgrades. Room for everyone with both a den and living room. A bright kitchen with all new Stainless appliances overlooks the fenced back yard and above ground POOL. Close to the beach from both Atlantic beach and Emerald isle also minutes away from Osprey Marina.

32. 2023-03-25
    status Pending 329-char remark

    Show marketing remark (329 chars)

    Beautiful home ready to move in. Recently renovated with lots of upgrades. Room for everyone with both a den and living room. A bright kitchen with all new Stainless appliances overlooks the fenced back yard and above ground POOL. Close to the beach from both Atlantic beach and Emerald isle also minutes away from Osprey Marina.

33. 2023-03-21
    status Active 329-char remark

    Show marketing remark (329 chars)

    Beautiful home ready to move in. Recently renovated with lots of upgrades. Room for everyone with both a den and living room. A bright kitchen with all new Stainless appliances overlooks the fenced back yard and above ground POOL. Close to the beach from both Atlantic beach and Emerald isle also minutes away from Osprey Marina.

34. 2023-01-31
    status Pending 329-char remark

    Show marketing remark (329 chars)

    Beautiful home ready to move in. Recently renovated with lots of upgrades. Room for everyone with both a den and living room. A bright kitchen with all new Stainless appliances overlooks the fenced back yard and above ground POOL. Close to the beach from both Atlantic beach and Emerald isle also minutes away from Osprey Marina.

35. 2023-01-27
    listed $235,000 Active 329-char remark

    Show marketing remark (329 chars)

    Beautiful home ready to move in. Recently renovated with lots of upgrades. Room for everyone with both a den and living room. A bright kitchen with all new Stainless appliances overlooks the fenced back yard and above ground POOL. Close to the beach from both Atlantic beach and Emerald isle also minutes away from Osprey Marina.

36. 2014-09-25
    soldstatus $138,000
37. 2014-09-25
    soldstatus $138,000
38. 2014-07-30
    listed $138,000

ⓘ 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: $827 · $69/mo
• Projected year-2 tax: $2,255 · $188/mo
• Expected delta: +$1,428/yr (+$119/mo · 172.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥102°F today · 20 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: $151,203
• − Mortgage interest: −$15,404
• − Property taxes: −$827
• − Insurance: −$1,375
• − Repairs & maintenance: −$12,096
• − Management: −$12,096
• − Depreciation: −$8,000
• Taxable income: $101,405
• Est. tax owed @ 24.0%: −$24,337
• After-tax cash flow: $75,606/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

• Census place: Broad Creek, NC
• 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

+99.3% since first listed

22 events — show timeline

• 2026-04-30 Price Changed $275,000 Hive MLS
• 2026-03-26 Price Changed $280,000 Hive MLS
• 2026-02-11 Listed $290,000 Hive MLS
• 2025-10-10 Price Changed $289,000 Hive MLS
• 2025-09-25 Price Changed $294,500 Hive MLS
• 2025-08-11 Price Changed $299,500 Hive MLS
• 2025-07-08 Price Changed $310,000 Hive MLS
• 2025-07-01 Relisted — Hive MLS
• 2025-07-01 Price Changed $315,000 Hive MLS
• 2025-06-02 Pending — Hive MLS
• 2025-06-02 Listing Removed — Hive MLS
• 2025-05-19 Price Changed $330,500 Hive MLS
• 2025-05-01 Listed $335,500 Hive MLS
• 2023-04-24 Sold (Public Records) $230,000 Public Records
• 2023-04-24 Sold (MLS) $230,000 Hive MLS
• 2023-03-25 Pending — Hive MLS
• 2023-03-21 Relisted — Hive MLS
• 2023-01-31 Pending — Hive MLS
• 2023-01-27 Listed $235,000 Hive MLS
• 2014-09-25 Sold (Public Records) $138,000 Public Records
• 2014-09-25 Sold (MLS) $138,000 Hive MLS
• 2014-07-30 Listed $138,000 Hive MLS

Property tax history

+4.6%/yr

Latest (2025): $827 · +12.5% YoY. Source: county tax records.