586 Tree Acres Cir NW #1 · Carolina Shores, NC 28467

$90,000

6 bd · 2.0 ba · 1,372 sqft · MultiFamily public records · 20 Days on market

Built 1991 0.50 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Fixer-upper opportunity! Being sold AS IS. this is a 2 unit duplex each with 3 beds and 1 bath and small kitchens. Loads of possibilities including making one larger home.

Key facts

• 0.5 acre lot
• Built 1991
• Listed 20 days

Property features AI

Exterior

• Parking: Unpaved parking; No driveway/garage
• Utilities: Public water; Water available; No sewer
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Concrete construction; Slab foundation
• Exterior features: No patio or porch; No fencing; Metal roof

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: 8 total rooms; Has a view

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 36.4% vs local median 3.9% in Carolina Shores — 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 (#352 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B+; 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: Jessie Mae Monroe Elementary (math 43% / reading 41%, grade F, #633 of 1,410 statewide, top 48%, 394 students, 99% FRL); Shallotte Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 674 students, 100% FRL); West Brunswick High (math 50% / reading 56%, grade C-, #281 of 535 statewide, top 53%, 1,526 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: 691 active listings in the ZIP; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• At $3,580/mo this rent would consume 57% of the median local household income ($75k/yr) (locally 81% 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 $622 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $90k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.98% ✓
• Cap rate: 36.41%
• Cash-on-cash: 107.57%
• DSCR: 5.79
• GRM: 2.1

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: 5.97×
• Total profit: $125,123
• Equity at exit: $13,419

10-year hold

• IRR: —
• Equity multiple: 12.47×
• Total profit: $289,022
• Equity at exit: $7,782

Cash invested: $25,200 (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 28467

• Home prices YoY: -33.7%
• Active inventory: 691
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $3,580 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$60 /mo · $717/yr
• Insurance: −$38
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$752
• Net cashflow: $2,193

Break-even live

Break-even rent $805

Max offer price $90,000

Occupancy floor 34%

Sensitivity live

Price	-10% $2,243	-5% $2,218	+0% $2,193	+5% $2,167	+10% $2,142
Rent	-10% $1,910	-5% $2,051	+0% $2,193	+5% $2,334	+10% $2,475
Rate	-1.0pp $2,238	-0.5pp $2,215	base $2,193	+0.5pp $2,169	+1.0pp $2,145

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,580
Total (2 units)			$3,580

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $90,000 Active 20 DOM
2. 2026-06-17
   days on market $90,000 Active 19 DOM
3. 2026-06-16
   days on market $90,000 Active 18 DOM
4. 2026-06-15
   days on market $90,000 Active 17 DOM
5. 2026-06-14
   days on market $90,000 Active 15 DOM
6. 2026-06-13
   days on market $90,000 Active 14 DOM
7. 2026-06-10
   days on market $90,000 Active 12 DOM
8. 2026-06-09
   days on market $90,000 Active 11 DOM
9. 2026-06-08
   days on market $90,000 Active 10 DOM
10. 2026-06-07
    days on market $90,000 Active 9 DOM
11. 2026-06-05
    days on market $90,000 Active 6 DOM
12. 2026-06-03
    days on market $90,000 Active 5 DOM
13. 2026-06-02
    days on market $90,000 Active 4 DOM
14. 2026-06-01
    days on market $90,000 Active 3 DOM
15. 2026-05-31
    days on market $90,000 Active 2 DOM
16. 2026-05-30
    remarks 172-char remark
17. 2026-05-30
    listed $90,000 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: $717 · $60/mo
• Projected year-2 tax: $738 · $62/mo
• Expected delta: +$21/yr (+$2/mo · 3.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $42,960
• − Mortgage interest: −$5,041
• − Property taxes: −$717
• − Insurance: −$1,248
• − Repairs & maintenance: −$3,437
• − Management: −$3,437
• − Depreciation: −$2,618
• Taxable income: $26,463
• Est. tax owed @ 24.0%: −$6,351
• After-tax cash flow: $19,959/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 — Carolina Shores

• Score: 64/100
• State rank: #352
• US rank: #13907

Category grades

Amenities F Commute F Cost of living B+ Crime A Employment C 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: 13,313
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 13,313
• Household income: $75,341
• Rent vs Own: 10.4% rent · 89.6% own
• Severe rent burden: 81.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1%

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: ▼ -67.90%
• Current HPI: 133.7186
• 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

+63.6% since first listed

2 events — show timeline

• 2026-05-29 Listed $90,000 Hive MLS
• 2026-03-02 Sold (Public Records) $55,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $717 · +0.0% YoY. Source: county tax records.