1033 Pine Ridge Ct · Skippers Corner, NC 28429

$399,700

4 bd · 2.5 ba · 1,983 sqft · Land · 34 Days on market

Built 2026 6,910 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Brand new construction with no HOA! Under construction for an anticipated June, 2026 completion, the ''Largo'' built by local builder Stevens Fine Homes offers 4 bedrooms, 2.5 baths, a first-floor primary suite, large kitchen with plentiful counterspace & storage, a flexible upstairs loft, conditioned storage, finished 2-car garage, a rear covered porch, fenced back yard and designer-curated finishes throughout! A lovely foyer greets your guests, and the spacious kitchen features soft-close cabinetry in a timeless white finish, granite countertops, a tile backsplash, a lighted pantry plus an island and coffee bar. The inviting great room lends access to the peaceful rear covered porch

Key facts

• Rear covered porch
• Fenced back yard
• Soft close cabinetry

Tags

• FIRST FLOOR PRIMARY SUITE
• LARGE KITCHEN
• FLEXIBLE UPSTAIRS LOFT
• REAR COVERED PORCH
• FENCED BACK YARD
• SOFT CLOSE CABINETRY

Property features AI

Finance

• Other: Lot is approximately 0.16 acres; Paved road access; Zoning: R-10; Subdivision: Pine Ridge; Directions: From Wilmington, take N College Road to Deerfield Rd. Turn right onto Deerfield. Take the first right onto Pine Ridge Court. Property will be on the right.

Exterior

• Parking: 2 total parking spaces; Attached 2-car garage; Garage faces front; Concrete driveway; Garage door opener
• Security: Smoke detector(s)
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single family residence; Residential property; Two levels / 2 stories; Entry level is 1; New construction; Facing details available in remarks
• Construction: Vinyl siding and frame construction; Slab foundation
• Exterior features: Front porch; Rear porch; Privacy wood fencing in back yard; Shingle roof; Irrigation equipment; Has view

Interior

• Kitchen: Electric oven; Electric range; Dishwasher; Microwave; Disposal; ENERGY STAR qualified appliances
• Bedrooms: Master downstairs
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; Accessible full bath
• Heating & cooling: Electric forced air heating; Central air conditioning; Energy-efficient thermostat
• Interior features: Master suite on the main level; Walk-in closet(s); Tray ceilings; High ceilings; Entrance foyer; Kitchen island; Ceiling fan(s); Pantry; Insulated windows
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $400k.

Deal economics

• At list price, monthly cash flow is $-618 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (32.1% below list).
• Recommended offer: $271k (32.1% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 1.1% in Skippers Corner — 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 62/100 on livability (#459 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: health & safety D, amenities F, commute F.
• New Hanover County Schools (urban): math 48% / reading 53% proficiency, ranked #61 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Castle Hayne Elementary (math 47% / reading 53%, grade D+, #409 of 1,410 statewide, top 29%, 459 students, 99% FRL); Holly Shelter Middle (math 39% / reading 43%, grade F, #209 of 475 statewide, top 45%, 858 students, 100% FRL); Emsley A Laney High (math 62% / reading 63%, grade B-, #179 of 535 statewide, top 34%, 2,220 students, 42% FRL) — zoned schools average 80% FRL vs 42% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 186 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).
• At $2,714/mo this rent would consume 45% of the median local household income ($72k/yr) (locally 110% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• New Hanover County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $245k; list at $400k implies a 63% gain — meaningful room to come down on a strong offer.

Recommended offer $271,403 (32.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.68% ✗
• Cap rate: 4.44%
• Cash-on-cash: -6.63%
• DSCR: 0.71
• GRM: 12.3

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: -27.7%
• Equity multiple: 0.07×
• Total profit: $-104,098
• Equity at exit: $59,597

10-year hold

• IRR: -26.2%
• Equity multiple: -0.26×
• Total profit: $-141,176
• Equity at exit: $34,559

Cash invested: $111,916 (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 28429

• Active inventory: 186
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,714 medium
• Mortgage (P&I): −$2,096
• Tax est. 1.5%: −$500 /mo · $5,996/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $-618

Break-even live

Break-even rent $3,497

Max offer price $310,252

Occupancy floor —

Sensitivity live

Price	-10% $-342	-5% $-480	+0% $-618	+5% $-756	+10% $-894
Rent	-10% $-833	-5% $-725	+0% $-618	+5% $-511	+10% $-404
Rate	-1.0pp $-417	-0.5pp $-516	base $-618	+0.5pp $-722	+1.0pp $-827

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: $99,925
• Closing costs: $11,991
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4605 Sidbury Crossing Dr Castle Hayne, NC	1.0–3.0	1.0–2.0	1031	$2,017	$1.96	15d	89	0.93mi
4413 Cohan Cir Wilmington, NC	1.0–3.0	1.0–3.0	979	$1,695	$1.73	15d	20	1.16mi

Listing history 3 events

1. 2026-05-24
   status Pending
2. 2026-04-20
   listed $399,700 Active
3. 2025-12-22
   soldstatus $245,000

ⓘ 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: $32,568
• − Mortgage interest: −$22,389
• − Property taxes: −$5,996
• − Insurance: −$1,998
• − Repairs & maintenance: −$2,605
• − Management: −$2,605
• − Depreciation: −$11,628
• Taxable loss: −$14,654
• Est. tax savings @ 24.0%: +$3,517
• After-tax cash flow: $-3,901/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: New Hanover County Schools
• NCES district ID: 3703330
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $49,406
• Composite: 43.13/100
• National rank: #3081
• State rank: #61 of 178 in NC

Livability — Skippers Corner

• Score: 62/100
• State rank: #459
• US rank: #16822

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Skippers Corner, NC
• County: New Hanover County · 232,153 people
• City population: 9,083
• Metro: Wilmington, NC
• Population (ZIP): 9,662
• Household income: $72,337
• Rent vs Own: 13.9% rent · 86.1% own
• Severe rent burden: 110.0

Population outlook (New Hanover County) Hauer SSP2

• Today (2025): 259,517 people
• By 2030: 279,586 · +7.7%
• By 2040: 318,223 · +22.6%
• By 2050: 354,831 · +36.7%
• By 2075: 437,158 · +68.5%
• By 2100: 486,769 · +87.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 14% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · New Hanover

• 2024 margin: Toss-up / Even · D 49.8% · R 49.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: -1.4pp · 2024: 0.6pp
• All cycles: 2024: D+0.6 2020: D+2.1 2016: R+4.1 2012: R+4.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.39%
• Current HPI: 220.4084
• Rent YoY: —
• 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

+63.1% since first listed

3 events — show timeline

• 2026-05-24 Pending — Hive MLS
• 2026-04-20 Listed $399,700 Hive MLS
• 2025-12-22 Sold (Public Records) $245,000 Public Records