21 Keelson Row Unit Yachtmaster 8g · Bald Head Island, NC 28461

$65,000

2 bd · 2.0 ba · 750 sqft · SingleFamily · 41 Days on market

Built 1994 Good condition 0.25 ac lot Est $57k · 14% over $365/mo HOA · 25% of rent

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Why this score? — see what drove the C+ 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
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +2.9/5.0
• Rent growth +2.7/5.0
• ARV discount +1.2/15.0
• Appreciation +0.0/10.0

Listing remarks

Wonderful opportunity to own a slice of Bald Head Island in the Marsh Harbour Inn! Enjoy four weeks of usage (one in each season) in a quaint Inn marina and creek side on BHI. The Yachtmaster Suite offers two bedrooms (one being a small bunk room) and two full baths located on the third floor of the Inn providing sublime marina and river views. This unit comes equipped with a kitchenette, living area, and sunset view deck. Remaining 2026 weeks in Week G include 7/23 - 7/30 and 10/22 - 10/29. Weeks H and I are also available for sale giving you the opportunity to have a total of 12 weeks usage with 3 contiguous weeks in each season. An add-on membership to the BHI Club may be available. Plea

Key facts

• Kitchenette
• Yachtmaster suite
• Sunset view deck

Tags

• YACHTMASTER SUITE
• MARINA VIEWS
• RIVER VIEWS
• KITCHENETTE
• SUNSET VIEW DECK

Property features AI

Finance

• Other: Zoning: Bh-Pd-3
• HOA & community: Homeowners association with annual fee ($4,376/year; ~$364.67/month); Association covers maintenance structure and taxes

Exterior

• Parking: Off-street parking
• Utilities: Electric service; Public water (on waterfront property may access creek); Public sewer
• Home design: Residential timeshare; One level entry; 3 total stories
• Construction: Frame construction; Shingle and slate roof; Pillar/post/pier foundation; Built on posts/pillars (pier)
• Exterior features: Balcony; Creek waterfront; Has view

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator
• Bedrooms: 3 rooms total (includes bedrooms and living spaces)
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning; Heat pump cooling
• Interior features: Ceiling fan(s); Window coverings; Furnished
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#597 in NC) — a working-class tenant base; expect higher turnover. Strengths: employment A+, crime 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: Southport Elementary (math 59% / reading 56%, grade C+, #245 of 1,410 statewide, top 18%, 403 students, 99% FRL); South Brunswick Middle (math 41% / reading 49%, grade D, #160 of 475 statewide, top 35%, 572 students, 100% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 students, 100% FRL) — zoned schools average 100% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 884 active listings in the ZIP; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $18k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.25% ✓
• Cap rate: 12.57%
• Cash-on-cash: 22.41%
• DSCR: 2.00
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $57,000
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Keelson Row Unit Pinnacle-F	0.00mi	2/2.0	750 (0%)	3mo	$55,000	$73	98
21 Keelson Row Unit 3c	0.00mi	2/2.0	800 (+7%)	6mo	$61,000	$76	84

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.45×
• Total profit: $8,109
• Equity at exit: $9,692

10-year hold

• IRR: 18.0%
• Equity multiple: 2.27×
• Total profit: $23,192
• Equity at exit: $5,620

Cash invested: $18,200 (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 28461

• Rents YoY: 0.7%
• Active inventory: 884
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,461 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$365
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $340

Break-even live

Break-even rent $1,031

Max offer price $65,000

Occupancy floor 72%

Sensitivity live

Price	-10% $385	-5% $362	+0% $340	+5% $317	+10% $295
Rent	-10% $224	-5% $282	+0% $340	+5% $398	+10% $455
Rate	-1.0pp $373	-0.5pp $356	base $340	+0.5pp $323	+1.0pp $306

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $365 · $4,380/yr

Listing history 18 events

1. 2026-06-22
   days on market $65,000 Active 41 DOM
2. 2026-06-18
   days on market $65,000 Active 38 DOM
3. 2026-06-17
   days on market $65,000 Active 37 DOM
4. 2026-06-16
   days on market $65,000 Active 36 DOM
5. 2026-06-15
   days on market $65,000 Active 35 DOM
6. 2026-06-14
   days on market $65,000 Active 33 DOM
7. 2026-06-13
   days on market $65,000 Active 32 DOM
8. 2026-06-10
   days on market $65,000 Active 30 DOM
9. 2026-06-09
   days on market $65,000 Active 29 DOM
10. 2026-06-08
    days on market $65,000 Active 28 DOM
11. 2026-06-07
    days on market $65,000 Active 27 DOM
12. 2026-06-05
    days on market $65,000 Active 24 DOM
13. 2026-06-03
    days on market $65,000 Active 23 DOM
14. 2026-06-02
    days on market $65,000 Active 22 DOM
15. 2026-06-01
    days on market $65,000 Active 21 DOM
16. 2026-05-31
    days on market $65,000 Active 20 DOM
17. 2026-05-30
    days on market $65,000 Active 19 DOM
18. 2026-05-11
    listed $65,000 Active

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

Taxation est. · year 1

• Rental income: $17,530
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − HOA: −$4,380
• − Depreciation: −$1,891
• Taxable income: $3,513
• Est. tax owed @ 24.0%: −$843
• After-tax cash flow: $3,235/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab

This property is in good condition with minimal maintenance required. It offers a great location with marina and river views, making it an attractive investment for both resale and rental.

Value-add opportunities

• Both Paint exterior walls — Fresh paint enhances curb appeal and can increase both resale and rental value
• Both Clean gutters — Clean gutters prevent water damage and improve the home's appearance

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Fresh paint enhances curb appeal and can increase both resale and rental value ↑
• Both Clean gutters — Clean gutters prevent water damage and improve the home's appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Bald Head Island

• Score: 57/100
• State rank: #597
• US rank: #21745

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bald Head Island, NC
• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 23,762
• Household income: $82,692
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 161.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -195.19%
• Current HPI: 142.5667
• Rent YoY: ▲ 0.74%
• 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

1 event — show timeline

• 2026-05-11 Listed $65,000 Hive MLS