Tate Plan · Bolivia, NC 28422

$254,990

3 bd · 2.5 ba · 1,326 sqft · Townhouse · 114 Days on market

Good condition

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Why this score? — see what drove the D 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 +12.8/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Wake up to coastal charm and everyday convenience at Middle Creek Village Coastal Cottages, where life moves at a more relaxed pace just minutes from the Shallotte Riverwalk and the shores of Oak Island. The Tate floorplan brings this lifestyle home with a stylish, functional design that makes both relaxing and entertaining effortless. Start your mornings on the spacious front porch, then step inside to an open-concept layout that maximizes living space without feeling crowded. The great room flows seamlessly into a gourmet kitchen featuring a large eat-at island and a dedicated dining area-perfect for gathering with friends or enjoying quiet nights at home.

Key facts

• Open floor plan
• Eat-at island
• Front porch

Tags

• FRONT PORCH
• OUTDOOR LIVING SPACE
• OPEN FLOOR PLAN
• GOURMET KITCHEN
• EAT-AT ISLAND
• WALK-IN CLOSETS

🏗️ New construction. The $254,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $255,262.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $255k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-23 ($-271/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (13.6% below list).
• Recommended offer: $220k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.6% in Bolivia — 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 59/100 on livability (#549 in NC) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, cost of living B; Watch: amenities F, commute F, employment 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: Bolivia Elementary (math 50% / reading 43%, grade D-, #542 of 1,410 statewide, top 39%, 496 students, 99% FRL); South Brunswick Middle (math 41% / reading 49%, grade D, #160 of 475 statewide, top 35%, 572 students, 100% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 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: 690 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 38% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 114 days — a 9% lower offer ($232k) is reasonable based on typical stale-listing flexibility.

Recommended offer $220,435 (13.6% 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 114 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• GRM: 9.6

CMA / ARV

• ARV (median comp): $255,262
• List price: $254,990
• Delta: -0.11%
• Verdict: FAIR
• Comps: 13 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1554 Sayer Rd NE	0.28mi	3/2.5	1,442 (+9%)	17mo	$216,000	$150	58
1558 Sayer Rd NE	0.28mi	3/2.5	1,442 (+9%)	17mo	$224,025	$155	58
1565 Sayer Rd NE	0.31mi	3/2.5	1,442 (+9%)	21mo	$246,570	$171	54
1561 Sayer Rd NE	0.31mi	3/2.5	1,442 (+9%)	22mo	$223,620	$155	53
1557 Sayer Rd NE	0.31mi	3/2.5	1,442 (+9%)	22mo	$237,575	$165	53

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-42,771
• Equity at exit: $38,060

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-38,965
• Equity at exit: $22,070

Cash invested: $71,473 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 1 under contract
• Months of supply: 13.2 mo (8%/mo absorbed)
• Median asking: $269,990 ($172/sqft)
• Median days on market: 72 d
• This list price: 45% of active listings are priced below it
• ARV vs active asking: +11.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28422

• Home prices YoY: -23.8%
• Active inventory: 690
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,204 medium
• Mortgage (P&I): −$1,339
• Tax est. 1.5%: −$319 /mo · $3,829/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $-23

Break-even live

Break-even rent $2,233

Max offer price $251,989

Occupancy floor 96%

Sensitivity live

Price	-10% $154	-5% $66	+0% $-23	+5% $-111	+10% $-199
Rent	-10% $-197	-5% $-110	+0% $-23	+5% $64	+10% $152
Rate	-1.0pp $106	-0.5pp $42	base $-23	+0.5pp $-89	+1.0pp $-156

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: $63,816
• Closing costs: $7,658
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Knox St Bolivia, NC	3.0	2.0	1569	$2,200	$1.40	73d	1	1.32mi

Property features AI

Finance

• Other: Address: 1508 Pine Log Trl NE, Bolivia NC 28422
• Financial info: List price $247,990

Exterior

• Home design: New construction planTate plan
• Exterior features: Living area approximately 1,326

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan named TateActive listing

Listing history 18 events

1. 2026-06-25
   days on market $254,990 Active 114 DOM
2. 2026-06-23
   days on market $254,990 Active 112 DOM
3. 2026-06-22
   days on market $254,990 Active 111 DOM
4. 2026-06-18
   days on market $254,990 Active 108 DOM
5. 2026-06-17
   days on market $254,990 Active 107 DOM
6. 2026-06-16
   days on market $254,990 Active 106 DOM
7. 2026-06-15
   days on market $254,990 Active 105 DOM
8. 2026-06-14
   days on market $254,990 Active 103 DOM
9. 2026-06-13
   days on market $254,990 Active 102 DOM
10. 2026-06-10
    days on market $254,990 Active 100 DOM
11. 2026-06-09
    days on market $254,990 Active 99 DOM
12. 2026-06-08
    days on market $254,990 Active 98 DOM
13. 2026-06-07
    days on market $254,990 Active 97 DOM
14. 2026-06-05
    days on market $254,990 Active 94 DOM
15. 2026-06-02
    days on market $254,990 Active 92 DOM
16. 2026-06-01
    days on market $254,990 Active 91 DOM
17. 2026-05-31
    days on market $254,990 Active 90 DOM
18. 2026-05-30
    days on market $254,990 Active 89 DOM

ⓘ 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: $26,452
• − Mortgage interest: −$14,299
• − Property taxes: −$3,829
• − Insurance: −$1,276
• − Repairs & maintenance: −$2,116
• − Management: −$2,116
• − Depreciation: −$7,426
• Taxable loss: −$4,610
• Est. tax savings @ 24.0%: +$1,106
• After-tax cash flow: $835/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.

Condition & rehab AI · 13 photos

Good 80/100 None rehab

This home is in good condition with a modern kitchen and well-maintained exterior. It has potential for further value increases through exterior painting and updates to the kitchen and bathrooms.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping the front yard — Improves curb appeal and can increase both resale and rental value. ↑
• Both Updating the flooring in the bathrooms — Modernizes the space and can increase both resale and rental value. ↑
• Both Upgrading the kitchen appliances — Modernizes the kitchen and can increase both resale and rental value. ↑

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Bolivia Elementary D- NC #542/1,410 Nat'l #15,452/41,679 Middle South Brunswick Middle D NC #160/475 Nat'l #4,622/14,009 High South Brunswick High C+ NC #216/535 Nat'l #3,588/17,239

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

D Composite livability gradescore 59/100

Livability — Bolivia

• Score: 59/100
• State rank: #549
• US rank: #20206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 152,111 people
• City population: 10,059
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 10,059
• Household income: $69,412
• Rent vs Own: 13.7% rent · 86.3% own

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 8% Hispanic / Latino 3% Native American 1%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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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: ▼ -44.19%
• Current HPI: 141.1956
• Rent YoY: —
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

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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

Property features AI

Finance

• Other: Address: 1508 Pine Log Trl NE, Bolivia NC 28422
• Financial info: List price $247,990

Exterior

• Home design: New construction planTate plan
• Exterior features: Living area approximately 1,326

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan named TateActive listing