209 Queens Rd · Swansboro, NC 28539

$149,900

3 bd · 2.0 ba · 1,856 sqft · Manufactured public records · 3 Days on market

Built 1979 0.74 ac lot Est $232k · 35% under

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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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover a world of possibilities at 209 Queens Rd in Hubert, NC. This spacious ranch-style home offers three bedrooms and two bathrooms, perfectly positioned on a generous three-quarter acre lot. It's an ideal canvas for those with a vision, eager to create a personalized sanctuary tailored to their lifestyle. The primary suite provides a private retreat, offering comfort and a sense of relaxation. With HomeStyle Renovation loans available, you have the opportunity to transform this home into your dream space, customizing every detail to suit your taste and needs. Imagine mornings spent enjoying your expansive yard, afternoons crafting your perfect interior, and evenings unwinding in your

Key facts

• 0.74 acre lot
• 2 parking spots
• Built 1979

Property features AI

Finance

• Other: Zoning: R-8M; Lot size: 0.74 acres
• Financial info: No investor or income/expense details provided
• HOA & community: Subdivision: Quail Haven

Exterior

• Parking: Carport for 2 cars; Asphalt parking
• Security: No specific security features provided
• Utilities: Sewer: septic tank; Utilities: other
• Home design: Manufactured home (residential); One story; Entry level: 1
• Construction: Vinyl siding with frame construction; Shingle roof; Foundation: brick/mortar, permanent, pillar/post/pier, other; Built as a manufactured home
• Exterior features: Deck; Enclosed porch; Screened porch; Front porch; Rear porch; Has a view; Accessible approach with ramp; Lot dimensions: 148 x 209 x 203 x 170 x 23

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Heat pump; Ceiling fans; Heating: propane and electric
• Interior features: Ceiling fans; Electric water heater
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 10.6% vs local median 3.5% in Swansboro — 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 77/100 on livability (#32 in NC, #3,124 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, commute F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Swansboro Elementary (math 65% / reading 60%, grade B, #174 of 1,410 statewide, top 13%, 668 students, 34% FRL); Swansboro Middle (math 52% / reading 55%, grade C+, #87 of 475 statewide, top 19%, 967 students, 43% FRL); Swansboro High (math 77% / reading 68%, grade B+, #104 of 535 statewide, top 19%, 1,115 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Zoned-school proficiency averages 63% at this address vs 46% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Onslow County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.6%/yr); 322 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $149,900

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.52%
• DSCR: 1.69
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $232,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Patsy Ln	0.68mi	3/2.0	1,955 (+5%)	6mo	$245,000	$125	55
115 Patsy Ln	0.71mi	3/2.0	1,967 (+6%)	3mo	$200,000	$102	54
123 Youpon Dr	0.41mi	3/2.0	1,741 (-6%)	21mo	$219,900	$126	53

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 · 2.61% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.23×
• Total profit: $9,509
• Equity at exit: $22,351

10-year hold

• IRR: 14.9%
• Equity multiple: 2.18×
• Total profit: $49,654
• Equity at exit: $12,961

Cash invested: $41,972 (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 28539

• Home prices YoY: -23.9%
• Rents YoY: 2.6%
• Active inventory: 322
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,805 high
• Mortgage (P&I): −$786
• Tax from tax record: −$35 /mo · $416/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $543

Break-even live

Break-even rent $1,118

Max offer price $149,900

Occupancy floor 65%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 Pittman Rd Hubert, NC	3.0	2.0	1404	$1,450	$1.03	21d	1	0.69mi
14 Pirates Cove Dr Swansboro, NC	3.0	2.5	1240	$1,500	$1.21	21d	1	1.41mi
131 Heron Watch Dr Hubert, NC	3.0	2.5	2140	$2,200	$1.03	21d	1	1.43mi
131 Heron Watch Dr Hubert, NC	3.0	2.5	2140	$2,200	$1.03	13d	1	1.43mi
309 N Winchester Ln Hubert, NC	4.0	2.0	1456	$1,700	$1.17	21d	1	1.47mi

Listing history 4 events

1. 2026-06-19
   days on market $149,900 Active 3 DOM
2. 2026-06-18
   days on market $149,900 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $149,900 Active 1 DOM

ⓘ 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: $416 · $35/mo
• Projected year-2 tax: $1,229 · $102/mo
• Expected delta: +$814/yr (+$68/mo · 195.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,661
• − Mortgage interest: −$8,397
• − Property taxes: −$416
• − Insurance: −$750
• − Repairs & maintenance: −$1,733
• − Management: −$1,733
• − Depreciation: −$4,361
• Taxable income: $4,272
• Est. tax owed @ 24.0%: −$1,025
• After-tax cash flow: $5,488/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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Swansboro

• Score: 77/100
• State rank: #32
• US rank: #3124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Onslow County · 164,453 people
• Metro: Jacksonville, NC
• Population (ZIP): 18,351
• Household income: $66,976
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 602.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 6% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.68%
• Current HPI: 186.871
• Rent YoY: ▲ 2.61%
• Metro: Jacksonville, 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

• 2026-06-16 Listed $149,900 Hive MLS

Property tax history

-0.6%/yr

Latest (2025): $416 · +0.0% YoY. Source: county tax records.