134 Bur Oaks Blvd · Newport, NC 28570

$420,000

3 bd · 2.0 ba · 1,737 sqft · Other public records · 99 Days on market

Built 2009 1.24 ac lot

---

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 MLS

ROOM TO GROW in this very nice 3BD/3BA inside the BUR OAKS community! Close country location on 1.24 acres, custom built with open floor plan, 9ft smooth ceiling, over sized master bedroom and a giant walk in shower. The outside features a large private 50 x15 screened in porch, 22 X12 workshop with power/water, and a yard irrigation system. Don't miss the room to grow upstairs at roughly 1,000 sqft (unfinished) just needing the finishing touches. Live downstairs while you finish the upstairs. Framed, power, water, ducting, and electric in place!

Key facts

• Enormous pantry
• Open floor plan
• Screened in porch

Tags

• OPEN FLOOR PLAN
• NEW APPLIANCES
• PRIVATE BACKYARD
• ENORMOUS PANTRY
• COMPLETED SUITE
• SCREENED IN PORCH

Property features AI

Finance

• Other: Subdivision: Bur Oaks; Zoning: R
• HOA & community: No association amenities

Exterior

• Parking: 2 parking spaces total; Attached 2-car garage with garage door opener; Garage faces front; Additional paved parking; Concrete driveway, lighted
• Utilities: Well water; Septic tank; Utilities: see remarks
• Home design: Single-family residence; Two levels
• Construction: Stone and vinyl siding exterior; Shingle roof; Crawl space foundation; Built with two levels
• Exterior features: Covered patio/porch areas; Deck; Front porch; Rear porch; Screened porch; Chain link fencing around backyard; Shed(s); Workshop; Wooded lot; Paved road frontage (city street and state road); Has a view

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher; Garbage disposal; Microwave; Pantry; Water softener
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms; Accessible full bath
• Heating & cooling: Heat pump with electric heating; Central air conditioning
• Interior features: Master suite on the main floor; Walk-in closets; Tray ceilings; High ceilings; Entrance foyer; Ceiling fans; Pantry; Window coverings
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $420k.

Deal economics

• At list price, monthly cash flow is $7k ($88k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $420k).
• Recommended offer: $382k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#385 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• 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: Newport Elementary (math 48% / reading 45%, grade D-, #542 of 1,410 statewide, top 39%, 645 students, 100% FRL); Newport Middle (math 39% / reading 56%, grade C-, #140 of 475 statewide, top 30%, 378 students, 98% FRL); West Carteret High (math 82% / reading 71%, grade A-, #89 of 535 statewide, top 16%, 1,146 students, 40% FRL) — zoned schools average 79% FRL vs 39% district-wide (40 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 $12,425/mo this rent would consume 212% 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 $3k of loan paydown is wiped out by about $13k 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 $118k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($382k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $250k; list at $420k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $382,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
6. 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.
7. 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: 2.96% ✓
• Cap rate: 27.33%
• Cash-on-cash: 75.12%
• DSCR: 4.34
• GRM: 2.8

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: 74.3%
• Equity multiple: 4.37×
• Total profit: $396,560
• Equity at exit: $62,623

10-year hold

• IRR: 78.0%
• Equity multiple: 9.02×
• Total profit: $943,455
• Equity at exit: $36,314

Cash invested: $117,600 (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: 2.8×

Monthly cashflow live

• Estimated rent: $12,425 medium
• Mortgage (P&I): −$2,203
• Tax from tax record: −$76 /mo · $909/yr
• Insurance: −$175
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,609
• Net cashflow: $7,296

Break-even live

Break-even rent $3,189

Max offer price $420,000

Occupancy floor 36%

Sensitivity live

Price	-10% $7,533	-5% $7,415	+0% $7,296	+5% $7,177	+10% $6,556
Rent	-10% $6,314	-5% $6,805	+0% $7,296	+5% $7,786	+10% $8,277
Rate	-1.0pp $7,507	-0.5pp $7,403	base $7,296	+0.5pp $7,187	+1.0pp $7,076

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $420,000 Active 99 DOM
2. 2026-06-18
   days on market $420,000 Active 98 DOM
3. 2026-06-17
   days on market $420,000 Active 97 DOM
4. 2026-06-16
   days on market $420,000 Active 96 DOM
5. 2026-06-15
   days on market $420,000 Active 95 DOM
6. 2026-06-14
   days on market $420,000 Active 93 DOM
7. 2026-06-12
   days on market $420,000 Active 92 DOM
8. 2026-06-09
   days on market $420,000 Active 89 DOM
9. 2026-06-09
   price $420,000 Active 88 DOM
10. 2026-06-08
    days on market $425,000 Active 88 DOM
11. 2026-06-07
    days on market $425,000 Active 87 DOM
12. 2026-06-05
    days on market $425,000 Active 84 DOM
13. 2026-06-03
    days on market $425,000 Active 83 DOM
14. 2026-06-02
    days on market $425,000 Active 82 DOM
15. 2026-06-01
    days on market $425,000 Active 81 DOM
16. 2026-05-31
    days on market $425,000 Active 80 DOM
17. 2026-05-30
    days on market $425,000 Active 79 DOM
18. 2026-04-30
    price $430,000
19. 2026-03-09
    listed $435,000 Active
20. 2021-04-16
    soldstatus $250,000 553-char remark

    Show marketing remark (553 chars)

    ROOM TO GROW in this very nice 3BD/3BA inside the BUR OAKS community! Close country location on 1.24 acres, custom built with open floor plan, 9ft smooth ceiling, over sized master bedroom and a giant walk in shower. The outside features a large private 50 x15 screened in porch, 22 X12 workshop with power/water, and a yard irrigation system. Don't miss the room to grow upstairs at roughly 1,000 sqft (unfinished) just needing the finishing touches. Live downstairs while you finish the upstairs. Framed, power, water, ducting, and electric in place!

21. 2021-04-15
    soldstatus $250,000
22. 2021-02-08
    listed $255,900 553-char remark

    Show marketing remark (553 chars)

    ROOM TO GROW in this very nice 3BD/3BA inside the BUR OAKS community! Close country location on 1.24 acres, custom built with open floor plan, 9ft smooth ceiling, over sized master bedroom and a giant walk in shower. The outside features a large private 50 x15 screened in porch, 22 X12 workshop with power/water, and a yard irrigation system. Don't miss the room to grow upstairs at roughly 1,000 sqft (unfinished) just needing the finishing touches. Live downstairs while you finish the upstairs. Framed, power, water, ducting, and electric in place!

23. 2009-08-06
    soldstatus $39,900 92-char remark

    Show marketing remark (92 chars)

    Almost one acre of partially cleared building lot in great neighborhood. Ready for new home.

24. 2009-08-06
    soldstatus $40,000

    Show marketing remark (92 chars)

    Almost one acre of partially cleared building lot in great neighborhood. Ready for new home.

25. 2009-04-27
    listed $44,900 92-char remark

    Show marketing remark (92 chars)

    Almost one acre of partially cleared building lot in great neighborhood. Ready for new home.

ⓘ 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: $909 · $76/mo
• Projected year-2 tax: $3,444 · $287/mo
• Expected delta: +$2,535/yr (+$211/mo · 279.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 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: $149,094
• − Mortgage interest: −$23,527
• − Property taxes: −$909
• − Insurance: −$2,898
• − Repairs & maintenance: −$11,928
• − Management: −$11,928
• − Depreciation: −$12,218
• Taxable income: $85,689
• Est. tax owed @ 24.0%: −$20,565
• After-tax cash flow: $66,983/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 — Newport

• Score: 63/100
• State rank: #385
• US rank: #15094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• City population: 22,197
• 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

+857.7% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $430,000 Hive MLS
• 2026-03-09 Listed $435,000 Hive MLS
• 2021-04-16 Sold (MLS) $250,000 Hive MLS
• 2021-04-15 Sold (Public Records) $250,000 Public Records
• 2021-02-08 Listed $255,900 Hive MLS
• 2009-08-06 Sold (Public Records) $40,000 Public Records
• 2009-08-06 Sold (MLS) $39,900 Hive MLS
• 2009-04-27 Listed $44,900 Hive MLS

Property tax history

+2.9%/yr

Latest (2025): $909 · +7.8% YoY. Source: county tax records.