974 Lower County St SW · Calabash, NC 28467

$170,000

2 bd · 1.5 ba · 900 sqft · SingleFamily public records · 23 Days on market

Built 1981 Est $217k · 22% 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +5.9/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Please view this home with new carpet and fresh paint.One car attached garage on the rear of the home. Fenced in rear yard.Public water and Public sewer,completely hooked up. Assessment has been paid in full for sewer.Room off the Living room is heated also.Wonderful front deck and a covered back porch.

Key facts

• Public sewer
• Fresh paint
• New carpet

Tags

• NEW CARPET
• FRESH PAINT
• FENCED IN REAR YARD
• PUBLIC WATER
• PUBLIC SEWER
• HEATED ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $170k.

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 $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.1% in Calabash — 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 61/100 on livability (#487 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing 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: 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: 703 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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 $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $68k; list at $170k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $167,450 (1.5% below list)

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 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?
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: 1.09% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.25%
• DSCR: 1.50
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $216,900
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1081 Harbor Dr	0.38mi	2/1.0	893 (-1%)	6mo	$365,000	$409	74
1047 Valley Dr	0.32mi	2/2.0	1,001 (+11%)	9mo	$236,000	$236	57
1091 Valley Dr	0.46mi	2/1.0	788 (-12%)	23mo	$190,000	$241	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $804
• Equity at exit: $25,348

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $37,008
• Equity at exit: $14,698

Cash invested: $47,600 (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: 703
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,847 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$50 /mo · $603/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $446

Break-even live

Break-even rent $1,282

Max offer price $170,000

Occupancy floor 71%

Sensitivity live

Price	-10% $543	-5% $494	+0% $446	+5% $398	+10% $350
Rent	-10% $300	-5% $373	+0% $446	+5% $519	+10% $592
Rate	-1.0pp $532	-0.5pp $490	base $446	+0.5pp $402	+1.0pp $357

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1420 Sherman Dr Calabash, NC	2.0–3.0	1.0–2.0	1011	$345	$0.34	15d	3	0.30mi
7112 Town Center Rd Sunset Beach, NC	1.0–2.0	1.0–2.0	955	$1,400	$1.47	15d	13	0.63mi
660 Aubrey Ln Calabash, NC	1.0–2.0	1.0–2.0	1081	$2,870	$2.65	15d	69	0.86mi
1035 Brightwater Way Calabash, NC	1.0–3.0	1.0–2.5	1327	$1,862	$1.40	25d	1	0.94mi
10174 Beach Dr SW #206 Calabash, NC	1.0	1.0	650	$1,050	$1.62	25d	1	1.26mi

Listing history 18 events

1. 2026-06-22
   days on market $170,000 Active 23 DOM
2. 2026-06-18
   days on market $170,000 Active 20 DOM
3. 2026-06-17
   days on market $170,000 Active 19 DOM
4. 2026-06-16
   days on market $170,000 Active 18 DOM
5. 2026-06-15
   days on market $170,000 Active 17 DOM
6. 2026-06-14
   days on market $170,000 Active 15 DOM
7. 2026-06-13
   days on market $170,000 Active 14 DOM
8. 2026-06-10
   days on market $170,000 Active 12 DOM
9. 2026-06-09
   days on market $170,000 Active 11 DOM
10. 2026-06-08
    days on market $170,000 Active 10 DOM
11. 2026-06-07
    days on market $170,000 Active 9 DOM
12. 2026-06-05
    days on market $170,000 Active 6 DOM
13. 2026-06-03
    days on market $170,000 Active 5 DOM
14. 2026-06-02
    days on market $170,000 Active 4 DOM
15. 2026-06-01
    days on market $170,000 Active 3 DOM
16. 2026-05-31
    days on market $170,000 Active 2 DOM
17. 2026-05-30
    remarks 376-char remark
18. 2026-05-30
    listed $170,000 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: $603 · $50/mo
• Projected year-2 tax: $1,394 · $116/mo
• Expected delta: +$791/yr (+$66/mo · 131.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 18 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: $22,160
• − Mortgage interest: −$9,523
• − Property taxes: −$603
• − Insurance: −$850
• − Repairs & maintenance: −$1,773
• − Management: −$1,773
• − Depreciation: −$4,945
• Taxable income: $2,693
• Est. tax owed @ 24.0%: −$646
• After-tax cash flow: $4,709/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 — Calabash

• Score: 61/100
• State rank: #487
• US rank: #17866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calabash, NC
• County: Brunswick County · 131,536 people
• 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

+70.2% since first listed

17 events — show timeline

• 2026-05-30 Listed $170,000 FSBO.com
• 2015-05-29 Sold (Public Records) $68,000 Public Records
• 2015-05-29 Sold (MLS) $68,000 Hive MLS
• 2015-02-13 Listed $72,500 Hive MLS
• 2011-09-02 Sold (MLS) $53,000 CCAR
• 2011-09-02 Sold (MLS) $53,000 Hive MLS
• 2011-07-11 Listed $61,000 CCAR
• 2011-07-11 Listed $61,000 Hive MLS
• 2011-06-14 Listing Removed — CCAR
• 2011-03-17 Listing Removed — Hive MLS
• 2010-07-26 Listed $59,900 Hive MLS
• 2010-07-26 Listed $59,900 CCAR
• 2007-03-08 Sold (Public Records) $93,000 Public Records
• 2007-03-08 Sold (MLS) $93,000 Hive MLS
• 2007-02-26 Sold (MLS) $93,000 CCAR
• 2007-01-19 Listed $99,900 CCAR
• 2007-01-19 Listed $99,900 Hive MLS

Property tax history

+2.7%/yr

Latest (2025): $603 · +2.5% YoY. Source: county tax records.