727 Palm Frond Way #11 · Carolina Shores, NC 28467

$244,990

3 bd · 2.5 ba · 1,734 sqft · Townhouse · 112 Days on market

Built 2026 Est $244k · at est. $180/mo HOA · 8% of rent ↓ 9% since listing

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Why this score? — see what drove the D- 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 +10.9/30.0
• ARV discount +7.4/15.0
• 1% rule +4.1/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

New Open Floorplan at Calabash Palms. End Unit this Filmore model is a spacious townhome that has 3 Bedrooms with 2.5 baths. Primary suite is on first level with walk in closet, double vanities and a shower. A powder room and laundry are also on the first level. The living room is open to the loft upstairs. The two secondary bedrooms upstairs are both 12x14 with a full bathroom to accomadate both. Beautiful White Kitchen Cabinets with Artic White Quartz countertops. LED lighting above the kitchen island, chrome hardware and LVP floors. Quiet community that is Pet friendly. Community incudes a dog park. Ask agent when you come to visit us for our current promotions. Photos coming soon! Home

Key facts

• End unit
• Open floorplan
• Primary suite

Tags

• OPEN FLOORPLAN
• END UNIT
• PRIMARY SUITE
• WALK IN CLOSET
• DOUBLE VANITIES
• SHOWER

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee ($180); Association fee covers management, common areas, legal/accounting, grounds maintenance, recycling, trash; Association allows owners to have motorcycles; pet restrictions apply; Community allows long-term and short-term rentals

Exterior

• Parking: Private one-car garage with garage door opener
• Security: Smoke detector(s)
• Utilities: Public water; Sewer available; Electricity available; Underground utilities; Trash collection
• Home design: New construction, never occupied; Entry level on level 1
• Construction: Vinyl siding; Slab foundation; Has home warranty
• Exterior features: Front porch; Sprinkler / irrigation system; Corner lot; Rectangular lot; Outside city limits

Interior

• Kitchen: Breakfast bar; Kitchen island; Pantry; Stainless steel appliances; Solid surface counters; Range; Microwave; Dishwasher; Disposal
• Bedrooms: Primary/bedroom on main level; Two additional bedrooms on second level (each ~12x14); Loft (flex space)
• Flooring: Carpet; Luxury vinyl / Luxury vinyl plank
• Bathrooms: Two full bathrooms; One half bathroom; Separate shower in at least one bathroom; Dual sinks
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Attic with pull-down and permanent attic stairs; Dual sinks; Linen closet; Main level primary bedroom; Split bedroom layout; Separate shower; Walk-in closet(s); Loft
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $245k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (8.9% below list).
• Recommended offer: $223k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 3.9% in Carolina Shores — 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 64/100 on livability (#352 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B+; Watch: health & safety D, schools F, 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.
• Market conditions: 691 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 36% of the median local income ($75k/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 $7k 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 112 days — a 9% lower offer ($223k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,940 (9.0% 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 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.92%
• DSCR: 0.91
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $244,494
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
723 NW Palm Frond Way #9	0.01mi	3/2.5	1,734 (0%)	1mo	$250,000	$144	99
723 Palm Frond Way NW	0.01mi	3/3.5	1,704 (-2%)	1mo	$250,000	$147	92
796 Palm Frond Way #47	0.15mi	3/2.5	1,697 (-2%)	4mo	$229,990	$136	87
816 Palm Frond Way #41	0.17mi	3/3.5	1,734 (0%)	2mo	$244,990	$141	86
816 Palm Frond Way NW	0.17mi	3/3.5	1,734 (0%)	2mo	$244,990	$141	86
796 Palm Frond Way NW	0.15mi	3/2.5	1,697 (-2%)	4mo	$229,990	$136	86
814 NW Palm Frond Way #42	0.17mi	3/3.5	1,734 (0%)	2mo	$244,991	$141	86
824 NW Palm Frond Way #39	0.15mi	3/3.5	1,734 (0%)	3mo	$250,000	$144	86
806 NW Palm Frond Way #44	0.17mi	3/3.5	1,734 (0%)	5mo	$239,880	$138	84
814 Palm Frond Way NW	0.17mi	3/3.5	1,704 (-2%)	2mo	$244,990	$144	83
824 Palm Frond Way NW	0.15mi	3/3.5	1,704 (-2%)	3mo	$250,000	$147	83
806 Palm Frond Way NW	0.17mi	3/3.5	1,704 (-2%)	5mo	$239,880	$141	81

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: -19.4%
• Equity multiple: 0.32×
• Total profit: $-46,528
• Equity at exit: $36,529

10-year hold

• IRR: -12.0%
• Equity multiple: 0.29×
• Total profit: $-48,909
• Equity at exit: $21,182

Cash invested: $68,597 (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 28467

• Home prices YoY: -33.7%
• Active inventory: 691
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,232 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$180
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $-109

Break-even live

Break-even rent $2,371

Max offer price $229,147

Occupancy floor 100%

Sensitivity live

Price	-10% $60	-5% $-25	+0% $-109	+5% $-194	+10% $-279
Rent	-10% $-286	-5% $-198	+0% $-109	+5% $-21	+10% $67
Rate	-1.0pp $14	-0.5pp $-47	base $-109	+0.5pp $-173	+1.0pp $-238

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: $61,248
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1204 Calabash Station Blvd NW Ocean Isle Beach, NC	3.0	2.0	1811	$2,200	$1.21	24d	1	0.36mi
3021 Siskin Dr NW Calabash, NC	2.0–3.0	2.0–2.5	1557	$2,279	$1.46	14d	46	0.36mi
2033 Wild Indigo CIR NW Calabash, NC	3.0	3.0	1457	$1,775	$1.22	24d	1	0.99mi
2042 Parow Ln NW Calabash, NC	3.0	2.5	1680	$1,800	$1.07	14d	1	1.01mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,292	$1.62	21d	51	1.32mi

HOA detail

• Monthly dues: $180 · $2,160/yr

Listing history 10 events

1. 2026-06-07
   statusdays on market $244,990 Pending 112 DOM
2. 2026-06-05
   days on market $244,990 Active Under Contract 111 DOM
3. 2026-06-03
   days on market $244,990 Active Under Contract 110 DOM
4. 2026-06-02
   days on market $244,990 Active Under Contract 109 DOM
5. 2026-06-01
   days on market $244,990 Active Under Contract 108 DOM
6. 2026-05-31
   days on market $244,990 Active Under Contract 107 DOM
7. 2026-05-30
   days on market $244,990 Active Under Contract 106 DOM
8. 2026-03-26
   price $244,990
9. 2026-03-11
   price $264,990
10. 2026-02-13
    listed $269,990 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $26,789
• − Mortgage interest: −$13,723
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,143
• − Management: −$2,143
• − HOA: −$2,160
• − Depreciation: −$7,127
• Taxable loss: −$5,408
• Est. tax savings @ 24.0%: +$1,298
• After-tax cash flow: $-16/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 — Carolina Shores

• Score: 64/100
• State rank: #352
• US rank: #13907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 13,313
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 13,313
• Household income: $75,341
• Rent vs Own: 10.4% rent · 89.6% own
• Severe rent burden: 81.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% 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: ▼ -67.90%
• Current HPI: 133.7186
• 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

-9.3% since first listed

3 events — show timeline

• 2026-03-26 Price Changed $244,990 CCAR
• 2026-03-11 Price Changed $264,990 CCAR
• 2026-02-13 Listed $269,990 CCAR