539 Union Bethel Rd · Surf City, NC 28443

$210,000

3 bd · 2.0 ba · 1,292 sqft · Other · 1 Days on market

Built 2003 1.00 ac lot

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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 +24.8/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +4.2/10.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors, renovators, and buyers ready to create value! This 3-bedroom, 2-bath manufactured home sits on approximately 1 acre in Hampstead with no HOA, septic, and plenty of room to make it your own. Located in the highly sought-after Topsail school district, this property offers a great opportunity at an affordable price point. The home is being sold AS IS and needs a new roof and minor renovations, which is reflected in the price. Check it out today!

Key facts

• Manufactured home
• Minor renovations
• Septic

Tags

• MANUFACTURED HOME
• NO HOA
• SEPTIC
• TOPSAIL SCHOOL DISTRICT
• NEW ROOF
• MINOR RENOVATIONS

Property features AI

Finance

• Other: Lot is approximately 1 acre (dimensions: 177 x 247 x 177 x 247); Road frontage includes city street and state road; road surface is paved; Zoning: RP

Exterior

• Parking: On-site unpaved parking; No garage
• Utilities: Public water; Water connected; Septic tank
• Home design: Manufactured home (residential); Single-story; Entry level is 1; Facing information not provided
• Construction: Vinyl siding; Other foundation
• Exterior features: Shingle roof; Shed(s) on the property; Has a view; No patio or porch; No fencing

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher
• Bedrooms: Master downstairs
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling; Electric heating
• Interior features: Master bedroom on the main level; Ceiling fans; Window coverings; Water softener
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $210k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Cap rate 8.8% vs local median 0.9% in Surf City — 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 (#357 in NC) — a middle-class / working-renter tenant base. Strengths: housing A, employment A-; Watch: health & safety D, amenities F, commute F.
• Pender County Schools (rural): math 49% / reading 50% proficiency, ranked #66 of 178 in NC (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Surf City Elementary (math 63% / reading 60%, grade B, #193 of 1,410 statewide, top 14%, 808 students, 31% FRL); Surf City Middle (math 56% / reading 57%, grade B, #71 of 475 statewide, top 15%, 705 students, 23% FRL); Topsail High (math 67% / reading 72%, grade B, #121 of 535 statewide, top 24%, 1,777 students, 22% FRL) — zoned schools average 25% FRL vs 47% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 50% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Pender County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.6%/yr); 509 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 943 units permitted in Pender County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Pender County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $59k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $210,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.01% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.11%
• DSCR: 1.41
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-2,300
• Equity at exit: $31,312

10-year hold

• IRR: 10.1%
• Equity multiple: 1.83×
• Total profit: $48,638
• Equity at exit: $18,157

Cash invested: $58,800 (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 28443

• Rents YoY: 4.6%
• Active inventory: 509
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,127 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$46 /mo · $546/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $446

Break-even live

Break-even rent $1,562

Max offer price $210,000

Occupancy floor 74%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
792 Wildwood Cir Hampstead, NC	3.0	2.5	1450	$1,895	$1.31	13d	1	0.63mi
26 Mullein Dr Hampstead, NC	2.0–4.0	2.0–2.5	1542	$2,460	$1.60	13d	21	1.00mi
1874 Sloop Point Loop Rd Hampstead, NC	3.0	1.0	1000	$1,900	$1.90	13d	1	1.50mi

Listing history 2 events

1. 2026-06-18
   remarks 469-char remark
2. 2026-06-18
   listed $210,000 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: $546 · $46/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$1,176/yr (+$98/mo · 215.2%)

ⓘ 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 6/10 Major
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,526
• − Mortgage interest: −$11,763
• − Property taxes: −$546
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − Depreciation: −$6,109
• Taxable income: $1,973
• Est. tax owed @ 24.0%: −$474
• After-tax cash flow: $4,881/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: Pender County Schools
• NCES district ID: 3703570
• Math proficiency: 49% ▲ 3.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $45,792
• Composite: 41.97/100
• National rank: #3342
• State rank: #66 of 178 in NC

Livability — Surf City

• Score: 64/100
• State rank: #357
• US rank: #14131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pender County · 28,416 people
• Metro: Wilmington, NC
• Population (ZIP): 28,416
• Household income: $90,477
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 700.0

Population outlook (Pender County) Hauer SSP2

• Today (2025): 69,295 people
• By 2030: 74,990 · +8.2%
• By 2040: 85,954 · +24.0%
• By 2050: 95,925 · +38.4%
• By 2075: 117,525 · +69.6%
• By 2100: 129,074 · +86.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 5% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Pender

• 2024 margin: Solid R (+35.0) · D 32.1% · R 67.0%
• 2008→2024 swing: -19.4pp toward R · 2008: -15.6pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+29.9 2016: R+30.4 2012: R+20.4 2008: R+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.51%
• Current HPI: 188.426
• Rent YoY: ▲ 4.57%
• Metro: Wilmington, 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

• 2026-06-18 Listed $210,000 Hive MLS

Property tax history

+11.4%/yr

Latest (2025): $546 · -26.8% YoY. Source: county tax records.