920 Pickett Rd NE · Leland, NC 28451

$215,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 46 Days on market

Built 2008 0.57 ac lot Est $219k · at est.

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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 +20.2/30.0
• ARV discount +8.4/15.0
• DSCR +6.4/10.0
• 1% rule +4.4/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a value!! Buy this 3 bedroom, 2 full bath home on . 57 acres. Large front and back yards with 2 sheds, swinging bench, large front porch and pretty landscaping. Home is located on quiet road but still close to all schools, stores, restaurants and highways. Kitchen is large with lots of cabinets, eat-in area, island, double sink and convenient pass through window into the dining room area and living room. Living room has lots of natural light and handsome wood burning fireplace. The master suite is wonderful with walk-in closet and master bathroom with separate shower, soaking tub, double sinks, linen closet and lots of drawer space. The other 2 bedrooms and full bathroom is on other side of home creating nice privacy. It's a terrific floor plan. Make an appointment to see it today!

Key facts

• Nicely sized pantry
• Large soaker tub
• Ensuite bathroom

Tags

• OPEN-CONCEPT LAYOUT
• WOOD-BURNING FIREPLACE
• ENSUITE BATHROOM
• LARGE SOAKER TUB
• STEP-IN SHOWER
• NICELY SIZED PANTRY

Property features AI

Exterior

• Parking: Off-street parking; On-site parking
• Utilities: Public water; Sewer connected; Water connected
• Home design: Manufactured home (residential); One story; Entry level: 1
• Construction: Vinyl siding; Shingle roof
• Exterior features: Front porch; Full fencing (wire, chain link, and wood); Shed(s) and storage; Has a view

Interior

• Kitchen: Electric oven; Microwave; Electric water heater
• Bedrooms: Master downstairs
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Master suite on the main level; Kitchen island; Window coverings; Crawl space basement
• Laundry & utility: Washer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $215k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (6.4% below list).
• Recommended offer: $201k (6.4% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.2% in Leland — 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 68/100 on livability (#177 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment 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: Lincoln Elementary (math 44% / reading 37%, grade F, #682 of 1,410 statewide, top 49%, 675 students, 100% FRL); Leland Middle (math 26% / reading 36%, grade F, #326 of 475 statewide, top 69%, 780 students, 100% FRL); North Brunswick High (math 57% / reading 49%, grade C-, #281 of 535 statewide, top 53%, 1,450 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: Rents rising (+1.2%/yr); 1213 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $6k 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.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $87k; list at $215k implies a 147% 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; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,330 (6.4% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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: 0.94% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.43%
• DSCR: 1.24
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $219,240
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
860 Ricefield Branch St NE	0.15mi	3/2.0	1,512 (0%)	4mo	$190,000	$126	90
780 Skipper St NE	0.29mi	3/2.0	1,512 (0%)	3mo	$200,000	$132	84
9366 Holbrook Dr	0.32mi	3/2.0	1,627 (+8%)	15mo	$235,000	$144	60
106 Westover Dr	0.40mi	3/2.0	1,313 (-13%)	6mo	$225,000	$171	55
9133 Highland Hills Dr NE	0.43mi	3/2.0	1,380 (-9%)	18mo	$130,000	$94	50
9810 Wayne St NE	0.67mi	3/2.0	1,344 (-11%)	4mo	$249,900	$186	47
9224 Highland Hills Dr NE	0.33mi	3/2.0	1,296 (-14%)	17mo	$210,000	$162	47
132 Westover Dr	0.60mi	3/2.0	1,620 (+7%)	19mo	$235,000	$145	44
119 Loyola Ave	0.54mi	3/2.0	1,334 (-12%)	23mo	$228,000	$171	36

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-21,062
• Equity at exit: $32,057

10-year hold

• IRR: -2.7%
• Equity multiple: 0.83×
• Total profit: $-10,169
• Equity at exit: $18,589

Cash invested: $60,200 (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 28451

• Rents YoY: 1.2%
• Active inventory: 1213
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$101 /mo · $1,212/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $272

Break-even live

Break-even rent $1,668

Max offer price $215,000

Occupancy floor 81%

Sensitivity live

Price	-10% $394	-5% $333	+0% $272	+5% $212	+10% $151
Rent	-10% $113	-5% $193	+0% $272	+5% $352	+10% $432
Rate	-1.0pp $381	-0.5pp $327	base $272	+0.5pp $217	+1.0pp $160

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
304 Bedstone DR Leland, NC	3.0–4.0	2.0–2.5	1669	$2,029	$1.22	15d	1	0.58mi
1114 Forest Glen Dr NE Leland, NC	3.0	2.0	1343	$2,100	$1.56	24d	1	0.73mi
6012 Beckington Dr Leland, NC	3.0	2.5–3.0	1712	$1,968	$1.15	14d	15	0.93mi
1033 Masons Place Cir Leland, NC	2.0	2.5	1084	$1,750	$1.61	24d	1	0.94mi
6032 Beckington Dr Leland, NC	3.0	2.5	1726	$1,990	$1.15	24d	1	0.95mi
6040 Beckington Dr Leland, NC	3.0	2.5	1726	$2,040	$1.18	24d	1	0.95mi
1300 Hidden Creek Dr NE Leland, NC	3.0	2.5	1360	$2,100	$1.54	22d	1	0.97mi
6088 Beckington Dr Leland, NC	3.0	2.5	1726	$2,040	$1.18	24d	1	0.98mi
5019 McGarvey Ct Leland, NC	3.0	2.5	1726	$1,990	$1.15	24d	1	0.98mi
6100 Beckington Dr Leland, NC	3.0	2.5	1726	$1,990	$1.15	24d	1	0.98mi
6339 Beckington Dr Leland, NC	3.0	3.0	1698	$1,714	$1.01	24d	1	0.99mi
6108 Beckington Dr Leland, NC	3.0	2.5	1726	$2,040	$1.18	24d	1	0.99mi
5043 McGarvey Ct Leland, NC	3.0	2.5	1726	$1,990	$1.15	24d	1	0.99mi
6323 Beckington Dr Leland, NC	3.0	3.0	1698	$1,915	$1.13	24d	1	1.00mi
7052 Crew Dr Leland, NC	3.0	3.0	1698	$1,915	$1.13	24d	1	1.01mi
6300 Beckington Dr Leland, NC	3.0	3.0	1698	$1,714	$1.01	24d	1	1.02mi
7028 Crew Dr Leland, NC	3.0	3.0	1698	$1,915	$1.13	24d	1	1.03mi
7008 Crew Dr Leland, NC	3.0	3.0	1698	$1,915	$1.13	24d	1	1.04mi
6216 Beckington Dr Leland, NC	3.0	2.5	1726	$2,040	$1.18	24d	1	1.07mi
1636 Bellamy Place Dr NE Leland, NC	2.0	2.0	1176	$1,695	$1.44	15d	1	1.09mi
155 Lincoln Place Cir Leland, NC	3.0	2.0	1381	$1,900	$1.38	24d	1	1.19mi
1018 Cordgrass Ln Leland, NC	3.0	2.0	2117	$2,400	$1.13	24d	1	1.28mi
8759 Lanvale Oaks Dr NE Leland, NC	3.0	2.0	1360	$2,100	$1.54	24d	1	1.30mi

Listing history 9 events

1. 2026-05-19
   status Pending
2. 2026-05-12
   price $215,000
3. 2026-05-05
   status Active
4. 2026-04-16
   historical Active Under Contract
5. 2026-04-03
   listed $225,000 Active
6. 2016-07-12
   soldstatus $87,000 797-char remark

   Show marketing remark (797 chars)

   What a value!! Buy this 3 bedroom, 2 full bath home on . 57 acres. Large front and back yards with 2 sheds, swinging bench, large front porch and pretty landscaping. Home is located on quiet road but still close to all schools, stores, restaurants and highways. Kitchen is large with lots of cabinets, eat-in area, island, double sink and convenient pass through window into the dining room area and living room. Living room has lots of natural light and handsome wood burning fireplace. The master suite is wonderful with walk-in closet and master bathroom with separate shower, soaking tub, double sinks, linen closet and lots of drawer space. The other 2 bedrooms and full bathroom is on other side of home creating nice privacy. It's a terrific floor plan. Make an appointment to see it today!

7. 2016-07-12
   soldstatus $87,000

   Show marketing remark (797 chars)

   What a value!! Buy this 3 bedroom, 2 full bath home on . 57 acres. Large front and back yards with 2 sheds, swinging bench, large front porch and pretty landscaping. Home is located on quiet road but still close to all schools, stores, restaurants and highways. Kitchen is large with lots of cabinets, eat-in area, island, double sink and convenient pass through window into the dining room area and living room. Living room has lots of natural light and handsome wood burning fireplace. The master suite is wonderful with walk-in closet and master bathroom with separate shower, soaking tub, double sinks, linen closet and lots of drawer space. The other 2 bedrooms and full bathroom is on other side of home creating nice privacy. It's a terrific floor plan. Make an appointment to see it today!

8. 2016-05-23
   listed $85,000 797-char remark

   Show marketing remark (797 chars)

   What a value!! Buy this 3 bedroom, 2 full bath home on . 57 acres. Large front and back yards with 2 sheds, swinging bench, large front porch and pretty landscaping. Home is located on quiet road but still close to all schools, stores, restaurants and highways. Kitchen is large with lots of cabinets, eat-in area, island, double sink and convenient pass through window into the dining room area and living room. Living room has lots of natural light and handsome wood burning fireplace. The master suite is wonderful with walk-in closet and master bathroom with separate shower, soaking tub, double sinks, linen closet and lots of drawer space. The other 2 bedrooms and full bathroom is on other side of home creating nice privacy. It's a terrific floor plan. Make an appointment to see it today!

9. 1999-06-01
   soldstatus $132,000

ⓘ 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: $1,212 · $101/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$551/yr (+$46/mo · 45.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,160
• − Mortgage interest: −$12,043
• − Property taxes: −$1,212
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,933
• − Management: −$1,933
• − Depreciation: −$6,255
• Taxable loss: −$290
• Est. tax savings @ 24.0%: +$70
• After-tax cash flow: $3,339/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 — Leland

• Score: 68/100
• State rank: #177
• US rank: #9158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leland, NC
• County: Brunswick County · 131,536 people
• City population: 46,933
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 46,933
• Household income: $81,481
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 1049.0

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 (71%)
• Race & ethnicity: White 71% Black 12% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 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: ▼ -99.99%
• Current HPI: 148.6217
• Rent YoY: ▲ 1.24%
• 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

+62.9% since first listed

9 events — show timeline

• 2026-05-19 Pending — Hive MLS
• 2026-05-12 Price Changed $215,000 Hive MLS
• 2026-05-05 Relisted — Hive MLS
• 2026-04-16 Contingent — Hive MLS
• 2026-04-03 Listed $225,000 Hive MLS
• 2016-07-12 Sold (Public Records) $87,000 Public Records
• 2016-07-12 Sold (MLS) $87,000 Hive MLS
• 2016-05-23 Listed $85,000 Hive MLS
• 1999-06-01 Sold (Public Records) $132,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,212 · +0.0% YoY. Source: county tax records.