4175 9th St SE · St. James, NC 28461

$169,000

2 bd · 2.0 ba · 787 sqft · Manufactured · 329 Days on market

7,405 sqft lot Est $144k · 17% over ↓ 22% since listing

---

Why this score? — see what drove the F 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 +13.5/30.0
• DSCR +4.1/10.0
• Schools +3.9/10.0
• 1% rule +3.8/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This newly updated mobile home is the perfect blend of coastal living and modern convenience, offering a peaceful retreat just minutes from the beach and the quaint town of Southport. This home has undergone extensive renovations that make it truly stand out. Outside, you'll discover a spacious backyard with an 8-foot privacy fence surrounding the property, creating a private oasis for relaxation and entertaining. Enjoy the outdoors on the large open deck or relax in the serene screened porch, both designed to match the home's rustic wood siding. A private outdoor shower completes the backyard - ideal for rinsing off after a day at the beach. Inside, the home features luxury vinyl flooring

Key facts

• Spacious backyard
• 8-foot privacy fence
• Large open deck

Tags

• SPACIOUS BACKYARD
• 8-FOOT PRIVACY FENCE
• LARGE OPEN DECK
• SERENE SCREENED PORCH
• PRIVATE OUTDOOR SHOWER
• LUXURY VINYL FLOORING

Property features AI

Exterior

• Parking: On-site unpaved parking with 2 open spaces
• Utilities: Public water; Sewer connected; Water connected
• Home design: Manufactured home (residential); One level / one story; Entry at level 1; Has a view
• Construction: Vinyl and wood siding with frame construction; Permanent foundation
• Exterior features: Outdoor shower; Covered, screened porch with deck; Privacy wood fencing; Membrane and shingle roof

Interior

• Kitchen: Refrigerator; Range; Dishwasher; Microwave; Electric water heater
• Bedrooms: Total rooms: 4
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Wall/window units and multiple cooling units
• Interior features: Kitchen island; Window coverings; Unfurnished
• Laundry & utility: Washer hookup in hall

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $169k.

Deal economics

• At list price, monthly cash flow is $5 ($66/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (12.1% below list).
• Recommended offer: $149k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 1.8% in St. James — 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: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• 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: Southport Elementary (math 59% / reading 56%, grade C+, #245 of 1,410 statewide, top 18%, 403 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: Rents flat; 877 active listings in the ZIP; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 329 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $60k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $148,530 (12.1% below list)

Questions for the listing agent

1. It's been on market 329 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.88% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $144,021
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4676 Southgate Blvd SE	0.60mi	2/2.0	800 (+2%)	11mo	$155,000	$194	60
4193 9th St SE	0.04mi	2/2.0	900 (+14%)	17mo	$165,000	$183	60
4329 Flagship Ave SE	0.54mi	3/2.0 (+1)	840 (+7%)	11mo	$85,000	$101	49
4715 Bluewater St SE	0.71mi	2/2.0	840 (+7%)	13mo	$95,000	$113	45
4410 Sea Pines Dr SE	0.22mi	3/2.0 (+1)	901 (+14%)	21mo	$180,000	$200	43
4657 Bluewater St SE	0.61mi	2/1.0	840 (+7%)	20mo	$69,000	$82	40
4503 Sweetbay Dr SE	0.74mi	3/2.0 (+1)	905 (+15%)	10mo	$174,000	$192	27

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.36×
• Total profit: $-30,318
• Equity at exit: $25,198

10-year hold

• IRR: -16.4%
• Equity multiple: 0.18×
• Total profit: $-38,814
• Equity at exit: $14,612

Cash invested: $47,320 (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 28461

• Rents YoY: 0.7%
• Active inventory: 877
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,485 medium
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $5

Break-even live

Break-even rent $1,478

Max offer price $169,000

Occupancy floor 95%

Sensitivity live

Price	-10% $122	-5% $64	+0% $5	+5% $-53	+10% $-111
Rent	-10% $-112	-5% $-53	+0% $5	+5% $64	+10% $123
Rate	-1.0pp $91	-0.5pp $48	base $5	+0.5pp $-38	+1.0pp $-83

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-13
   statusdays on market $169,000 Pending 329 DOM
2. 2026-06-10
   days on market $169,000 Active 327 DOM
3. 2026-06-09
   days on market $169,000 Active 326 DOM
4. 2026-06-08
   days on market $169,000 Active 325 DOM
5. 2026-06-07
   days on market $169,000 Active 324 DOM
6. 2026-06-05
   days on market $169,000 Active 321 DOM
7. 2026-06-03
   pricedays on market $169,000 Active 320 DOM
8. 2026-06-02
   days on market $179,000 Active 319 DOM
9. 2026-06-01
   days on market $179,000 Active 318 DOM
10. 2026-05-31
    days on market $179,000 Active 317 DOM
11. 2026-05-30
    days on market $179,000 Active 316 DOM
12. 2026-03-27
    status Active
13. 2026-03-25
    historical
14. 2025-08-28
    price $179,000
15. 2025-08-18
    price $199,900
16. 2025-08-06
    price $219,000
17. 2025-07-16
    listed $229,000 Active

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°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: $17,824
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$1,426
• − Management: −$1,426
• − Depreciation: −$4,916
• Taxable loss: −$2,791
• Est. tax savings @ 24.0%: +$670
• After-tax cash flow: $735/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 — St. James

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 23,762
• Household income: $82,692
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 161.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -195.19%
• Current HPI: 142.5667
• Rent YoY: ▲ 0.74%
• 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

-21.8% since first listed

6 events — show timeline

• 2026-03-27 Relisted — Hive MLS
• 2026-03-25 Listing Removed — Hive MLS
• 2025-08-28 Price Changed $179,000 Hive MLS
• 2025-08-18 Price Changed $199,900 Hive MLS
• 2025-08-06 Price Changed $219,000 Hive MLS
• 2025-07-16 Listed $229,000 Hive MLS

Property tax history

+2.2%/yr

Latest (2025): $223 · +0.0% YoY. Source: county tax records.