734 Cutter Ct · Kure Beach, NC 28449

$1,175,000

4 bd · 3.0 ba · 2,308 sqft · SingleFamily public records · 156 Days on market

Built 2002 5,227 sqft lot Est $932k · 26% over $48/mo HOA

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy Beach Living at its Finest! - Spacious and Immaculate 4 Bedroom, 3 Bath home with an Open Floor Plan. Plenty of room for everyone. Ocean Views! 3 Decks and Widow's Walk for your enjoyment. Jacuzzi Tub and Double Sinks in Master Bath. Large garage, laundry room and outdoor shower. 2 HVAC Units. Community pool and ocean front gazebo with parking. Lots of storage space.

Key facts

• Community pool
• Fenced-in backyard
• 5,227 sq ft lot

Tags

• FENCED-IN BACKYARD
• PRIVATE COMMUNITY BEACH ACCESS
• COMMUNITY POOL

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $575 (about $47.92/mo); Community pool; Clubhouse; Street lights

Exterior

• Parking: 2 total parking spaces; 2-car attached garage; Concrete parking; Off-street parking
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single family residence; Two levels; Residential property type
• Construction: Vinyl siding and frame construction; Shingle roof; Pillar/post/pier foundation; Built with other foundation details
• Exterior features: Outdoor shower; Deck; Porch; Back yard fencing; Irrigation equipment; Has view

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and other living spaces)
• Flooring: Tile; Wood
• Bathrooms: 3 full bathrooms; Accessible full bathroom
• Heating & cooling: Heat pump; Electric heating; Forced air; Cooling (heat pump)
• Interior features: Kitchen island; Furnished; Gas log fireplace; Vented exhaust fan; Disposal
• Laundry & utility: Washer; Dryer; Laundry located in hall

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $1.18M.

Deal economics

• At list price, monthly cash flow is $12k ($144k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.18M).
• Recommended offer: $1.03M (12.0% below list) — sets the bar for market timing.
• Cap rate 18.5% vs local median 2.1% in Kure Beach — 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 65/100 on livability (#303 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment 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: Carolina Beach Elementary (math 55% / reading 59%, grade C+, #249 of 1,410 statewide, top 20%, 431 students, 32% FRL); Charles P Murray Middle (math 59% / reading 59%, grade B, #54 of 475 statewide, top 12%, 882 students, 34% FRL); Eugene Ashley High (math 48% / reading 68%, grade C, #243 of 535 statewide, top 46%, 1,975 students, 34% FRL).
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $35k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $329k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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 $325k; list at $1.18M implies a 262% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,034,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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 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. 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: 2.04% ✓
• Cap rate: 18.54%
• Cash-on-cash: 43.75%
• DSCR: 2.95
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $932,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
737 Fort Fisher Blvd N	0.14mi	4/3.0	2,176 (-6%)	2mo	$880,000	$404	82
425 Sandman Dr	0.37mi	5/3.0 (+1)	2,313 (+0%)	2mo	$940,000	$406	76
160 Seawatch Way	0.31mi	4/4.0	2,260 (-2%)	6mo	$1,075,000	$476	73
753 Sailor Ct	0.14mi	4/3.0	2,048 (-11%)	3mo	$760,000	$371	72
1615 Bonito Ln	0.35mi	4/3.0	2,506 (+9%)	2mo	$990,000	$395	67
765 Sloop Pointe Ln	0.10mi	3/2.5 (-1)	1,996 (-14%)	2mo	$749,900	$376	64
1514 Mackerel Ln	0.49mi	4/3.0	2,490 (+8%)	4mo	$1,000,000	$402	61
1725 Spot Ln	0.31mi	4/3.5	2,603 (+13%)	3mo	$928,750	$357	60
730 Settlers Ln	0.21mi	3/2.0 (-1)	2,100 (-9%)	9mo	$675,000	$321	59
465 Fort Fisher Blvd N	0.36mi	5/3.0 (+1)	2,600 (+13%)	2mo	$1,057,777	$407	55
802 Ocean Blvd	0.70mi	4/3.0	2,065 (-10%)	1mo	$950,000	$460	49
1320 Searay Ln	0.71mi	4/3.5	2,478 (+7%)	6mo	$1,360,000	$549	48

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: 40.6%
• Equity multiple: 2.74×
• Total profit: $573,174
• Equity at exit: $175,196

10-year hold

• IRR: 46.9%
• Equity multiple: 5.50×
• Total profit: $1,481,370
• Equity at exit: $101,593

Cash invested: $329,000 (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 28449

• Active inventory: 94
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $24,000 medium
• Mortgage (P&I): −$6,162
• Tax from tax record: −$266 /mo · $3,196/yr
• Insurance: −$490
• HOA: −$48
• Vacancy / Maint / Mgmt: −$5,040
• Net cashflow: $11,994

Break-even live

Break-even rent $8,817

Max offer price $1,175,000

Occupancy floor 45%

Sensitivity live

Price	-10% $12,659	-5% $12,327	+0% $11,994	+5% $11,662	+10% $11,329
Rent	-10% $10,098	-5% $11,046	+0% $11,994	+5% $12,942	+10% $13,890
Rate	-1.0pp $12,586	-0.5pp $12,293	base $11,994	+0.5pp $11,690	+1.0pp $11,380

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: $293,750
• Closing costs: $35,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1622 Swordfish Ln #1 Carolina Beach, NC	4.0	3.5	2476	$24,000	$9.69	23d	1	0.35mi

HOA detail

• Monthly dues: $48 · $576/yr
• Likely covers: pool

Listing history 26 events

1. 2026-06-21
   days on market $1,175,000 Active 156 DOM
2. 2026-06-18
   days on market $1,175,000 Active 153 DOM
3. 2026-06-17
   days on market $1,175,000 Active 152 DOM
4. 2026-06-16
   days on market $1,175,000 Active 151 DOM
5. 2026-06-15
   days on market $1,175,000 Active 150 DOM
6. 2026-06-14
   days on market $1,175,000 Active 148 DOM
7. 2026-06-13
   days on market $1,175,000 Active 147 DOM
8. 2026-06-10
   days on market $1,175,000 Active 145 DOM
9. 2026-06-09
   days on market $1,175,000 Active 144 DOM
10. 2026-06-08
    days on market $1,175,000 Active 143 DOM
11. 2026-06-07
    days on market $1,175,000 Active 142 DOM
12. 2026-06-05
    days on market $1,175,000 Active 139 DOM
13. 2026-06-03
    days on market $1,175,000 Active 138 DOM
14. 2026-06-03
    days on market $1,175,000 Active 137 DOM
15. 2026-05-31
    days on market $1,175,000 Active 135 DOM
16. 2026-05-30
    days on market $1,175,000 Active 134 DOM
17. 2026-03-20
    price $1,175,000
18. 2026-01-16
    listed $1,200,000 Active
19. 2010-08-16
    soldstatus $325,000 375-char remark

    Show marketing remark (375 chars)

    Enjoy Beach Living at its Finest! - Spacious and Immaculate 4 Bedroom, 3 Bath home with an Open Floor Plan. Plenty of room for everyone. Ocean Views! 3 Decks and Widow's Walk for your enjoyment. Jacuzzi Tub and Double Sinks in Master Bath. Large garage, laundry room and outdoor shower. 2 HVAC Units. Community pool and ocean front gazebo with parking. Lots of storage space.

20. 2010-08-16
    soldstatus $325,000

    Show marketing remark (375 chars)

    Enjoy Beach Living at its Finest! - Spacious and Immaculate 4 Bedroom, 3 Bath home with an Open Floor Plan. Plenty of room for everyone. Ocean Views! 3 Decks and Widow's Walk for your enjoyment. Jacuzzi Tub and Double Sinks in Master Bath. Large garage, laundry room and outdoor shower. 2 HVAC Units. Community pool and ocean front gazebo with parking. Lots of storage space.

21. 2010-06-15
    listed $375,000 375-char remark

    Show marketing remark (375 chars)

    Enjoy Beach Living at its Finest! - Spacious and Immaculate 4 Bedroom, 3 Bath home with an Open Floor Plan. Plenty of room for everyone. Ocean Views! 3 Decks and Widow's Walk for your enjoyment. Jacuzzi Tub and Double Sinks in Master Bath. Large garage, laundry room and outdoor shower. 2 HVAC Units. Community pool and ocean front gazebo with parking. Lots of storage space.

22. 2006-09-28
    historical
23. 2006-05-28
    listed $595,000
24. 2002-11-14
    soldstatus $303,278
25. 2002-11-01
    soldstatus $301,500
26. 2002-09-04
    listed $309,900

ⓘ 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: $3,196 · $266/mo
• Projected year-2 tax: $9,635 · $803/mo
• Expected delta: +$6,439/yr (+$537/mo · 201.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 19 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: $288,000
• − Mortgage interest: −$65,818
• − Property taxes: −$3,196
• − Insurance: −$5,875
• − Repairs & maintenance: −$23,040
• − Management: −$23,040
• − HOA: −$576
• − Depreciation: −$34,182
• Taxable income: $132,273
• Est. tax owed @ 24.0%: −$31,746
• After-tax cash flow: $112,186/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 — Kure Beach

• Score: 65/100
• State rank: #303
• US rank: #12563

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kure Beach, NC
• Population (ZIP): 2,017

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 (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Romanian 6% Serbian 5% Lithuanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2% Other Indo-European 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: ▼ -197.31%
• Current HPI: 246.571
• Rent YoY: —
• Metro: —
• 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

+279.2% since first listed

10 events — show timeline

• 2026-03-20 Price Changed $1,175,000 Hive MLS
• 2026-01-16 Listed $1,200,000 Hive MLS
• 2010-08-16 Sold (Public Records) $325,000 Public Records
• 2010-08-16 Sold (MLS) $325,000 Hive MLS
• 2010-06-15 Listed $375,000 Hive MLS
• 2006-09-28 Listing Removed — Hive MLS
• 2006-05-28 Listed $595,000 Hive MLS
• 2002-11-14 Sold (MLS) $303,278 Hive MLS
• 2002-11-01 Sold (Public Records) $301,500 Public Records
• 2002-09-04 Listed $309,900 Hive MLS

Property tax history

+0.2%/yr

Latest (2025): $3,196 · -12.4% YoY. Source: county tax records.