693 S Windward Dr SW · Holden Beach, NC 28462

$110,000

2 bd · 1.0 ba · 667 sqft · Manufactured · 31 Days on market

Built 2001 0.35 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy this peaceful area just minutes from beach, restaurants, and shopping. Great area for permanenant residence or second home.

Key facts

• Coastal home
• Great natural light
• Double lot

Tags

• COASTAL HOME
• DOUBLE LOT
• GREAT NATURAL LIGHT
• PEACEFUL SETTING
• LOCAL BEACHES

Property features AI

Exterior

• Parking: 3 open parking spaces; Unpaved parking
• Security: Storm door(s)
• Utilities: Well water; Septic system; Underground utilities
• Home design: Manufactured home (residential); One story; Entry level: 1; Metal siding and frame construction
• Construction: Shingle roof
• Exterior features: No patio or porch; No fencing; Has view

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: Total of 5 rooms (bedroom count not specified separately)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric heating; Heat pump
• Interior features: Storm windows; Window coverings; Unfurnished; Crawl space basement (no finished basement)
• Laundry & utility: Washer; Dryer; Washer hookup in hall

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 3.1% in Holden 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 (#334 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, housing A; Watch: cost of living D, health & safety D, amenities 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: Virginia Williamson Elem (math 50% / reading 49%, grade D, #417 of 1,410 statewide, top 32%, 502 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% FRL); West Brunswick High (math 50% / reading 56%, grade C-, #281 of 535 statewide, top 53%, 1,526 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: 506 active listings in the ZIP; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 31% of the median local income ($60k/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 $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $110k implies a 53% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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: 1.41% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.02%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $56,695
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 Sand Castle Dr SW	0.44mi	2/1.0	765 (+15%)	10mo	$65,000	$85	46

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: 9.6%
• Equity multiple: 1.38×
• Total profit: $11,657
• Equity at exit: $16,401

10-year hold

• IRR: 18.8%
• Equity multiple: 2.56×
• Total profit: $48,179
• Equity at exit: $9,511

Cash invested: $30,800 (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 28462

• Active inventory: 506
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,548 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $463

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 65%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-01
   status Active
2. 2026-02-23
   price $110,000
3. 2026-01-27
   price $120,000
4. 2025-12-18
   status Active
5. 2025-12-11
   historical Active Under Contract
6. 2025-11-11
   status Pending
7. 2025-11-11
   historical
8. 2025-11-05
   listed $125,000 Active
9. 2025-09-16
   soldstatus $72,000
10. 2009-06-12
    soldstatus $43,000 129-char remark

    Show marketing remark (129 chars)

    Enjoy this peaceful area just minutes from beach, restaurants, and shopping. Great area for permanenant residence or second home.

11. 2009-02-04
    listed $50,000 129-char remark

    Show marketing remark (129 chars)

    Enjoy this peaceful area just minutes from beach, restaurants, and shopping. Great area for permanenant residence or second home.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥104°F today · 19 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: $18,573
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$3,200
• Taxable income: $4,040
• Est. tax owed @ 24.0%: −$969
• After-tax cash flow: $4,581/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 — Holden Beach

• Score: 65/100
• State rank: #334
• US rank: #13586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 12,340
• Household income: $60,349
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 269.0

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 (87%)
• Race & ethnicity: White 87% Black 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -259.44%
• Current HPI: 144.2462
• Rent YoY: —
• 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

+120.0% since first listed

11 events — show timeline

• 2026-05-01 Relisted — Hive MLS
• 2026-02-23 Price Changed $110,000 Hive MLS
• 2026-01-27 Price Changed $120,000 Hive MLS
• 2025-12-18 Relisted — Hive MLS
• 2025-12-11 Contingent — Hive MLS
• 2025-11-11 Pending — Hive MLS
• 2025-11-11 Listing Removed — Hive MLS
• 2025-11-05 Listed $125,000 Hive MLS
• 2025-09-16 Sold (Public Records) $72,000 Public Records
• 2009-06-12 Sold (MLS) $43,000 Hive MLS
• 2009-02-04 Listed $50,000 Hive MLS

Property tax history

-2.3%/yr

Latest (2025): $177 · -1.2% YoY. Source: county tax records.