Corabell 3-Story 2-Car Garage Plan · Castle Hayne, NC 28429

$275,990

3 bd · 2.5 ba · 1,777 sqft · SingleFamily · 68 Days on market

Good condition 2-car garage

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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).

• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• Schools +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

This three-story townhome includes three bedrooms, two full bathrooms, two half bathrooms, and a two-car garage. The porch and garage entrances lead to a half bathroom and flex space, which can be converted into an office or guest bedroom with a full bathroom. The garage entrance offers an optional bench and cubbies or organizational cabinet. The first flight of stairs leads to the open concept great room with an optional fireplace which flows directly into the eat-in area and kitchen with an optional deck. Just outside the kitchen, there is a nook with an optional butlers pantry or organizational cabinet. A powder room completes the second floor.

Key facts

• Dual vanities
• Walk-in closet
• Optional deck

Tags

• OPTIONAL FIREPLACE
• OPTIONAL DECK
• OPTIONAL BUTLERS PANTRY
• WALK-IN CLOSET
• DUAL VANITIES
• LAUNDRY CLOSET

🏗️ New construction. The $275,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $358,366.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $276k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-583 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $274k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (13.1% below list).
• Recommended offer: $240k (13.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#335 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living 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: Castle Hayne Elementary (math 47% / reading 53%, grade D+, #409 of 1,410 statewide, top 29%, 459 students, 99% FRL); Holly Shelter Middle (math 39% / reading 43%, grade F, #209 of 475 statewide, top 45%, 858 students, 100% FRL); Emsley A Laney High (math 62% / reading 63%, grade B-, #179 of 535 statewide, top 34%, 2,220 students, 42% FRL) — zoned schools average 80% FRL vs 42% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 233 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).
• This rent runs 40% of the median local income ($72k/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 $2k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($259k) is reasonable based on typical stale-listing flexibility.

Recommended offer $239,723 (13.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.67% ✗
• Cap rate: 4.34%
• Cash-on-cash: -6.97%
• DSCR: 0.69
• GRM: 12.5

CMA / ARV

• ARV (median comp): $358,366
• List price: $275,990
• Delta: -22.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4314 Rough Stalk Ln Lot 308	1.10mi	4/2.0 (+1)	1,774 (-0%)	1mo	$401,490	$226	57
1218 Saint Augustine Dr	0.98mi	4/2.0 (+1)	1,803 (+2%)	3mo	$359,000	$199	53
6220 Centipede Pl	0.90mi	4/2.0 (+1)	1,810 (+2%)	3mo	$395,000	$218	52
6201 Centipede Pl Lot 163	0.85mi	4/2.0 (+1)	1,811 (+2%)	4mo	$375,000	$207	52
4334 Rough Stalk Ln Lot 313	1.10mi	3/2.0	1,618 (-9%)	2mo	$392,490	$243	47
2238 Emerald Ave Lot 242	1.04mi	3/2.0	1,618 (-9%)	3mo	$345,000	$213	46
2206 Emerald Ave	0.95mi	3/2.0	1,653 (-7%)	8mo	$350,000	$212	45
1221 Saint Augustine Dr	0.99mi	3/2.0	1,618 (-9%)	7mo	$345,000	$213	42
2325 Emerald Ave Lot 261	0.79mi	3/2.0	1,618 (-9%)	11mo	$359,999	$222	39
2173 Emerald Ave	0.91mi	4/2.5 (+1)	1,987 (+12%)	4mo	$365,000	$184	37
5813 Sidbury Rd	0.64mi	4/3.0 (+1)	1,558 (-12%)	8mo	$395,000	$254	36
410 Millhouse Rd	1.03mi	3/2.0	1,465 (-18%)	10mo	$297,500	$203	30

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: -28.4%
• Equity multiple: 0.05×
• Total profit: $-95,152
• Equity at exit: $53,434

10-year hold

• IRR: -27.6%
• Equity multiple: -0.30×
• Total profit: $-130,504
• Equity at exit: $30,985

Cash invested: $100,343 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 17 active · 1 under contract
• Months of supply: 25.5 mo (4%/mo absorbed)
• Median asking: $364,990 ($207/sqft)
• Median days on market: 57 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -2.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28429

• Active inventory: 233
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,397 medium
• Mortgage (P&I): −$1,879
• Tax est. 1.5%: −$448 /mo · $5,375/yr
• Insurance: −$149
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-583

Break-even live

Break-even rent $3,135

Max offer price $274,038

Occupancy floor —

Sensitivity live

Price	-10% $-335	-5% $-459	+0% $-583	+5% $-707	+10% $-830
Rent	-10% $-772	-5% $-677	+0% $-583	+5% $-488	+10% $-393
Rate	-1.0pp $-402	-0.5pp $-492	base $-583	+0.5pp $-676	+1.0pp $-770

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: $89,592
• Closing costs: $10,751
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4605 Sidbury Crossing Dr Castle Hayne, NC	1.0–3.0	1.0–2.0	1031	$2,017	$1.96	62d	89	0.29mi
6105 Dichondra Dr Castle Hayne, NC	3.0–5.0	2.0–3.0	2064	$2,519	$1.22	62d	12	0.70mi
4413 Cohan Cir Wilmington, NC	1.0–3.0	1.0–3.0	979	$1,695	$1.73	62d	20	1.18mi

Property features AI

Finance

• Financial info: List price $275,990

Exterior

• Parking: 2-car garage
• Home design: Corabell 3-story plan2-car garagePlan located in Castle Hayne, NC
• Construction: New construction (plan)
• Exterior features: Living area approximately 1,777

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Active listing for a new construction plan

Listing history 50 events

1. 2026-08-08
   days on market $275,990 Active 68 DOM
2. 2026-08-07
   days on market $275,990 Active 67 DOM
3. 2026-08-06
   days on market $275,990 Active 66 DOM
4. 2026-08-05
   days on market $275,990 Active 65 DOM
5. 2026-08-04
   days on market $275,990 Active 64 DOM
6. 2026-08-03
   days on market $275,990 Active 63 DOM
7. 2026-07-31
   days on market $275,990 Active 60 DOM
8. 2026-07-30
   days on market $275,990 Active 59 DOM
9. 2026-07-29
   days on market $275,990 Active 58 DOM
10. 2026-07-27
    days on market $275,990 Active 56 DOM
11. 2026-07-25
    days on market $275,990 Active 54 DOM
12. 2026-07-24
    days on market $275,990 Active 53 DOM
13. 2026-07-23
    days on market $275,990 Active 52 DOM
14. 2026-07-22
    days on market $275,990 Active 51 DOM
15. 2026-07-21
    days on market $275,990 Active 50 DOM
16. 2026-07-18
    days on market $275,990 Active 47 DOM
17. 2026-07-16
    days on market $275,990 Active 45 DOM
18. 2026-07-16
    days on market $275,990 Active 44 DOM
19. 2026-07-14
    days on market $275,990 Active 43 DOM
20. 2026-07-13
    days on market $275,990 Active 42 DOM
21. 2026-07-12
    days on market $275,990 Active 41 DOM
22. 2026-07-11
    days on market $275,990 Active 40 DOM
23. 2026-07-10
    days on market $275,990 Active 39 DOM
24. 2026-07-09
    days on market $275,990 Active 38 DOM
25. 2026-07-08
    days on market $275,990 Active 37 DOM
26. 2026-07-07
    days on market $275,990 Active 36 DOM
27. 2026-07-06
    days on market $275,990 Active 35 DOM
28. 2026-07-05
    days on market $275,990 Active 34 DOM
29. 2026-07-04
    days on market $275,990 Active 33 DOM
30. 2026-07-03
    days on market $275,990 Active 32 DOM
31. 2026-07-02
    days on market $275,990 Active 31 DOM
32. 2026-07-01
    days on market $275,990 Active 30 DOM
33. 2026-06-30
    days on market $275,990 Active 29 DOM
34. 2026-06-29
    days on market $275,990 Active 28 DOM
35. 2026-06-28
    days on market $275,990 Active 27 DOM
36. 2026-06-28
    days on market $275,990 Active 26 DOM
37. 2026-06-27
    days on market $275,990 Active 25 DOM
38. 2026-06-25
    days on market $275,990 Active 23 DOM
39. 2026-06-23
    days on market $275,990 Active 21 DOM
40. 2026-06-21
    days on market $275,990 Active 20 DOM
41. 2026-06-18
    days on market $275,990 Active 17 DOM
42. 2026-06-17
    days on market $275,990 Active 16 DOM
43. 2026-06-16
    days on market $275,990 Active 15 DOM
44. 2026-06-15
    days on market $275,990 Active 14 DOM
45. 2026-06-14
    days on market $275,990 Active 12 DOM
46. 2026-06-13
    days on market $275,990 Active 11 DOM
47. 2026-06-10
    days on market $275,990 Active 9 DOM
48. 2026-06-09
    days on market $275,990 Active 8 DOM
49. 2026-06-08
    days on market $275,990 Active 7 DOM
50. 2026-06-07
    days on market $275,990 Active 6 DOM

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

Taxation est. · year 1

• Rental income: $28,767
• − Mortgage interest: −$20,074
• − Property taxes: −$5,375
• − Insurance: −$1,792
• − Repairs & maintenance: −$2,301
• − Management: −$2,301
• − Depreciation: −$10,425
• Taxable loss: −$13,503
• Est. tax savings @ 24.0%: +$3,241
• After-tax cash flow: $-3,753/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $8,885–$26,655 screening

This three-story townhome is in good condition with no visible repairs needed. It offers a good investment opportunity with potential for both resale and rental value through minor updates and improvements.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance the curb appeal and value of the home. ↑
• Both Landscaping improvements — Well-maintained landscaping can increase both resale and rental value. ↑
• Both Interior touch-ups — Fresh paint and minor touch-ups can improve the home's appearance and value. ↑
• Rental HVAC maintenance — A well-maintained HVAC system can attract tenants and increase rental value. ↑
• Resale Kitchen and bathroom updates — Modernizing the kitchen and bathrooms can significantly increase the home's resale value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Castle Hayne Elementary D+ NC #409/1,410 Nat'l #12,529/41,679 Middle Holly Shelter Middle F NC #209/475 Nat'l #5,727/14,009 High Emsley A Laney High B- NC #179/535 Nat'l #3,176/17,239

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

C Composite livability gradescore 65/100

Livability — Castle Hayne

• Score: 65/100
• State rank: #335
• US rank: #13604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New Hanover County · 259,517 people
• City population: 9,662
• Metro: Wilmington, NC
• Population (ZIP): 9,662
• Household income: $72,337
• Rent vs Own: 13.9% rent · 86.1% own

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 14% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% German/W. Germanic 1%

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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: ▼ -120.39%
• Current HPI: 220.4084
• Rent YoY: —
• Metro: Wilmington, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

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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

Property features AI

Finance

• Financial info: List price $275,990

Exterior

• Parking: 2-car garage
• Home design: Corabell 3-story plan2-car garagePlan located in Castle Hayne, NC
• Construction: New construction (plan)
• Exterior features: Living area approximately 1,777

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Active listing for a new construction plan