122 Ballantine Grove Ln · Broad Creek, NC 28570

$605,000

4 bd · 3.0 ba · 2,808 sqft · Other public records · 334 Days on market

Built 2022 0.52 ac lot $45/mo HOA

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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 +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Less than 3 years old. This beautiful home has 4 bedrooms, 3 baths, fireplace, large multi purpose bonus room and a screened back porch with hand inlaid stained glass of a beach scene plus the Cape Lookout and Cape Hatteras light houses. The amazing designer kitchen has an extra large island, granite counter tops and appliances are stainless steel. The house is equipped with video Skybell, video cameras front and back, Pro Z Wave thermostats led lighting and more. Ballantine is a prime location with beach in either direction boat ramps nearby and easy access to all shopping The lot is 90X250 and wooded in the back that backs up to a wetlands that cannot be built on. The storage building is

Key facts

• Designer kitchen
• Screened back porch
• Extra large island

Tags

• MULTI PURPOSE BONUS ROOM
• SCREENED BACK PORCH
• HAND INLAID STAINED GLASS
• DESIGNER KITCHEN
• EXTRA LARGE ISLAND
• GRANITE COUNTER TOPS

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $540 (about $45/month)

Exterior

• Parking: Attached garage with 2 garage spaces; Total 2 parking spaces; Additional paved parking; garage faces front
• Security: Security system; Smoke detectors
• Utilities: Public water (connected); Septic tank; Cable available; Electric service
• Home design: Single-family residence; Two levels; Residential zoning
• Construction: Stone and vinyl siding exterior; Slab foundation; Built with typical shingle roof
• Exterior features: Covered, screened porch; Patio; Privacy wood fencing enclosing back yard; Storage structure; Shingle roof; Wetlands and wooded lot; Paved private road frontage; Has a view

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher; Microwave; Kitchen island; Pantry
• Bedrooms: Total rooms: 8 (includes bedrooms and living spaces)
• Flooring: Carpet
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heat pump for heating and cooling; Electric heating; Fireplace(s)
• Interior features: Walk-in closets; Vaulted ceilings / high ceilings; Kitchen island; Pantry; Shutters and window coverings; Insulated windows; Gas-log fireplace; Unfurnished
• Laundry & utility: Washer hookup; Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $605k.

Deal economics

• At list price, monthly cash flow is $8k ($98k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $605k).
• Recommended offer: $532k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#340 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Carteret County Public Schools (rural): math 59% / reading 61% proficiency, ranked #31 of 178 in NC (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bogue Sound Elementary (math 63% / reading 63%, grade B, #168 of 1,410 statewide, top 12%, 467 students, 99% FRL); Broad Creek Middle (math 63% / reading 68%, grade A-, #28 of 475 statewide, top 6%, 710 students, 100% FRL); Croatan High (math 82% / reading 78%, grade A, #73 of 535 statewide, top 13%, 974 students, 26% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 216 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).
• At $14,862/mo this rent would consume 254% of the median local household income ($70k/yr) (locally 461% 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 $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Carteret County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $169k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 334 days — a 12% lower offer ($532k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

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 $532,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 334 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 2.46% ✓
• Cap rate: 22.46%
• Cash-on-cash: 57.73%
• DSCR: 3.57
• GRM: 3.4

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: 56.2%
• Equity multiple: 3.48×
• Total profit: $420,845
• Equity at exit: $90,207

10-year hold

• IRR: 61.2%
• Equity multiple: 7.11×
• Total profit: $1,034,223
• Equity at exit: $52,309

Cash invested: $169,400 (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 28570

• Home prices YoY: -16.2%
• Active inventory: 216
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $14,862 medium
• Mortgage (P&I): −$3,173
• Tax from tax record: −$122 /mo · $1,463/yr
• Insurance: −$252
• HOA: −$45
• Vacancy / Maint / Mgmt: −$3,121
• Net cashflow: $8,149

Break-even live

Break-even rent $4,546

Max offer price $605,000

Occupancy floor 40%

Sensitivity live

Price	-10% $8,492	-5% $8,320	+0% $8,149	+5% $7,978	+10% $7,807
Rent	-10% $6,975	-5% $7,562	+0% $8,149	+5% $8,736	+10% $9,323
Rate	-1.0pp $8,454	-0.5pp $8,303	base $8,149	+0.5pp $7,992	+1.0pp $7,833

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: $151,250
• Closing costs: $18,150
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 23 events

1. 2026-06-19
   days on market $605,000 Active 334 DOM
2. 2026-06-18
   days on market $605,000 Active 333 DOM
3. 2026-06-17
   days on market $605,000 Active 332 DOM
4. 2026-06-16
   days on market $605,000 Active 331 DOM
5. 2026-06-15
   days on market $605,000 Active 330 DOM
6. 2026-06-14
   days on market $605,000 Active 328 DOM
7. 2026-06-12
   days on market $605,000 Active 327 DOM
8. 2026-06-09
   days on market $605,000 Active 324 DOM
9. 2026-06-08
   days on market $605,000 Active 323 DOM
10. 2026-06-07
    days on market $605,000 Active 322 DOM
11. 2026-06-05
    days on market $605,000 Active 319 DOM
12. 2026-06-03
    days on market $605,000 Active 318 DOM
13. 2026-06-02
    days on market $605,000 Active 317 DOM
14. 2026-06-01
    days on market $605,000 Active 316 DOM
15. 2026-05-31
    days on market $605,000 Active 315 DOM
16. 2026-05-30
    days on market $605,000 Active 314 DOM
17. 2026-03-26
    status Active
18. 2026-03-26
    historical
19. 2026-02-21
    status Active
20. 2026-02-20
    historical
21. 2026-01-05
    status Active
22. 2025-12-31
    historical
23. 2025-07-16
    listed $605,000 Active

ⓘ 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: $1,463 · $122/mo
• Projected year-2 tax: $4,961 · $413/mo
• Expected delta: +$3,498/yr (+$292/mo · 239.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥102°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $178,340
• − Mortgage interest: −$33,889
• − Property taxes: −$1,463
• − Insurance: −$3,025
• − Repairs & maintenance: −$14,267
• − Management: −$14,267
• − HOA: −$540
• − Depreciation: −$17,600
• Taxable income: $93,289
• Est. tax owed @ 24.0%: −$22,389
• After-tax cash flow: $75,400/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: Carteret County Public Schools
• NCES district ID: 3700630
• Math proficiency: 59% ▲ 5.00%
• Reading proficiency: 61% ▲ 2.00%
• Median HH income: $48,330
• Composite: 50.92/100
• National rank: #1786
• State rank: #31 of 178 in NC

Livability — Broad Creek

• Score: 64/100
• State rank: #340
• US rank: #13718

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: Broad Creek, NC
• County: Carteret County · 52,389 people
• Metro: Morehead City, NC
• Population (ZIP): 22,197
• Household income: $70,229
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 461.0

Population outlook (Carteret County) Hauer SSP2

• Today (2025): 73,443 people
• By 2030: 75,344 · +2.6%
• By 2040: 78,142 · +6.4%
• By 2050: 80,091 · +9.1%
• By 2075: 86,120 · +17.3%
• By 2100: 89,408 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Carteret

• 2024 margin: Solid R (+43.1) · D 28.0% · R 71.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -34.7pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+42.0 2016: R+44.5 2012: R+41.0 2008: R+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.54%
• Current HPI: 276.6589
• Rent YoY: —
• Metro: Morehead City, 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

7 events — show timeline

• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-02-21 Relisted — Hive MLS
• 2026-02-20 Listing Removed — Hive MLS
• 2026-01-05 Relisted — Hive MLS
• 2025-12-31 Listing Removed — Hive MLS
• 2025-07-16 Listed $605,000 Hive MLS

Property tax history

-1.8%/yr

Latest (2025): $1,463 · +1.4% YoY. Source: county tax records.