1146 King Eider Way · Leland, NC 28479

$339,900

3 bd · 2.0 ba · 1,615 sqft · SingleFamily public records · 234 Days on market

Built 2023 Good condition 6,098 sqft lot Garage $210/sqft · at area comps Est $357k · at est. $90/mo HOA · 4% of rent

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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).

• ARV discount +9.7/15.0
• Cash flow +7.4/30.0
• Appreciation +5.6/10.0
• Schools +4.5/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.5/10.0

Listing remarks

Welcome to Your Dream Home in Mallory Creek, Magnolia! Located in the beautiful and sought-after community of Mallory Creek in Magnolia, this stunning area-style home offers the perfect blend of comfort, style, and convenience. The one-level open floor plan is thoughtfully designed for modern family living and effortless entertaining. The showstopper kitchen features an oversized island, spacious walk-in pantry, and sleek finishes--ideal for home chefs and gatherings alike. The owner's suite is a true retreat, complete with a luxurious bathroom with a walk-in shower and a generous walk-in closet. This home also includes a smart home package for added convenience and peace of mind.

Key facts

• Open floor plan
• Walk-in shower
• Showstopper kitchen

Tags

• OPEN FLOOR PLAN
• SHOWSTOPPER KITCHEN
• WALK-IN PANTRY
• OWNER'S SUITE
• LUXURIOUS BATHROOM
• WALK-IN SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $340k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-445 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (23.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (34.1% below list).
• Recommended offer: $224k (34.1% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.2% in Leland — 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 68/100 on livability (#177 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: health & safety D, amenities F, commute 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: Town Creek Elementary (math 50% / reading 53%, grade C-, #392 of 1,410 statewide, top 28%, 654 students, 100% FRL); Leland Middle (math 26% / reading 36%, grade F, #326 of 475 statewide, top 69%, 780 students, 100% FRL); North Brunswick High (math 57% / reading 49%, grade C-, #281 of 535 statewide, top 53%, 1,450 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: 288 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 41d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 35% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $7k of equity ($2k loan paydown + $4k appreciation (1.2% local appreciation)).
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $223,876 (34.1% 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 234 days. Have you received any prior offers? Is the seller open to a 34% 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. 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: 0.66% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.61%
• DSCR: 0.75
• GRM: 12.7

CMA / ARV

• ARV (median comp): $357,382
• List price: $339,900
• Delta: -4.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1131 King Eider Way Lot 106	0.05mi	3/2.0	1,475 (-9%)	1mo	$335,000	$227	83
3635 Wigeon Way Lot 211	0.22mi	3/2.0	1,475 (-9%)	0mo	$361,400	$245	75
1168 Lillibridge Dr	0.20mi	3/2.0	1,729 (+7%)	5mo	$442,500	$256	75
4181 Yellow Flag Iris St	0.41mi	2/2.0 (-1)	1,581 (-2%)	0mo	$397,000	$251	72
3514 Wigeon Way	0.06mi	4/2.0 (+1)	1,791 (+11%)	5mo	$360,000	$201	70
4157 Yellow Flag Iris St	0.41mi	2/2.0 (-1)	1,492 (-8%)	0mo	$405,000	$271	63
4177 Yellow Flag Iris St	0.42mi	2/2.0 (-1)	1,492 (-8%)	0mo	$393,990	$264	62
483 St Kitts Way	0.61mi	3/2.0	1,756 (+9%)	2mo	$345,000	$196	56
4165 Yellow Flag Iris St	0.43mi	3/2.0	1,403 (-13%)	3mo	$402,000	$287	55
5015 Meadow Buttercup Ct	0.45mi	2/2.0 (-1)	1,403 (-13%)	4mo	$399,990	$285	49
9634 Large Oak Ct	0.63mi	3/2.0	1,416 (-12%)	6mo	$335,000	$237	46
1319 Star Grass Way	0.72mi	2/2.0 (-1)	1,404 (-13%)	5mo	$445,000	$317	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.81×
• Total profit: $-18,133
• Equity at exit: $120,180

10-year hold

• IRR: 1.4%
• Equity multiple: 1.17×
• Total profit: $16,195
• Equity at exit: $162,962

Cash invested: $95,172 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 30 active · 45 under contract
• Months of supply: 5.5 mo (18%/mo absorbed)
• Median asking: $406,990 ($260/sqft)
• Median days on market: 72 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: -14.8% vs current asking $/sqft

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

ZIP-level market 28479

• Home prices YoY: 0.8%
• Active inventory: 288
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,239 high
• Mortgage (P&I): −$1,782
• Tax from tax record: −$199 /mo · $2,393/yr
• Insurance: −$142
• HOA: −$90
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-445

Break-even live

Break-even rent $2,802

Max offer price $261,310

Occupancy floor —

Sensitivity live

Price	-10% $-252	-5% $-349	+0% $-445	+5% $-541	+10% $-637
Rent	-10% $-622	-5% $-533	+0% $-445	+5% $-356	+10% $-268
Rate	-1.0pp $-274	-0.5pp $-358	base $-445	+0.5pp $-533	+1.0pp $-623

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: $84,975
• Closing costs: $10,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2330 Gadwall Ln Unit Na Winnabow, NC	3.0	2.0	1183	$1,995	$1.69	7d	1	0.05mi
1167 King Eider Way Winnabow, NC	3.0	2.0	1475	$1,995	$1.35	51d	1	0.05mi
4756 Scaup Way Winnabow, NC	3.0	2.0	1618	$3,500	$2.16	154d	1	0.21mi
4784 Scaup Way Leland, NC	4.0	2.0	1774	$2,350	$1.32	7d	1	0.26mi
4784 Scaup Way Leland, NC	4.0	2.0	1774	$2,395	$1.35	40d	1	0.26mi
2822 Southern Magnolia Dr Leland, NC	3.0	2.0	1504	$1,995	$1.33	17d	1	0.46mi
8381 Paramount Pt Unit P8381 Winnabow, NC	3.0	3.0	1652	$1,800	$1.09	51d	1	0.48mi
828 Beachwalk Dr Winnabow, NC	3.0	2.0	1600	$2,000	$1.25	2d	1	1.27mi
1001 Hunterstone Dr Leland, NC	1.0–3.0	1.0–2.0	850	$1,482	$1.74	154d	29	1.39mi
136 N Palm Dr Winnabow, NC	3.0	2.0	1235	$1,850	$1.50	164d	1	1.40mi
136 N Palm Dr Winnabow, NC	3.0	2.0	1235	$1,850	$1.50	154d	1	1.40mi
1036 Tideline Dr Leland, NC	3.0	3.0	1400	$1,900	$1.36	51d	1	1.40mi
1036 Tideline Dr Leland, NC	3.0	3.0	1400	$1,900	$1.36	37d	1	1.40mi
2108 Silty Soil Ct Leland, NC	2.0–3.0	2.5	1442	$2,124	$1.47	0d	23	1.41mi
2516 Centerway Ln Leland, NC	3.0	2.0	1475	$2,050	$1.39	7d	1	1.50mi

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $1,080 (about $90/month)HOA maintains grounds and provides managementCommunity amenities include a pool, playground, picnic area, sidewalks, and street lights

Exterior

• Parking: Attached front-facing garage2 garage spaces (2 total parking spaces)Paved driveway
• Security: Smoke detector(s)
• Utilities: Public waterSewer availableWater availableElectric service
• Home design: Single-family residenceOne storyResidential propertyHas a viewSubdivision: Mallory Creek Plantation
• Construction: Vinyl siding and frame constructionShingle roofSlab foundationBuilt on one level
• Exterior features: Covered patioPatioBack yard wood fencingLevel lotCity street and state road frontagePaved roads

Interior

• Kitchen: Electric ovenMicrowaveDishwasherGarbage disposalRefrigeratorKitchen islandPantry
• Bedrooms: Total rooms: 6
• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heat pumpCentral air conditioning
• Interior features: Walk-in closet(s)Entrance foyerKitchen islandPantryAccessible full bathSmoke detector(s)Energy-efficient lighting and thermostat
• Laundry & utility: WasherDryerLaundry roomElectric water heater

Listing history 50 events

1. 2026-11-08
   days on market $339,900 Active 234 DOM
2. 2026-11-07
   days on market $339,900 Active 233 DOM
3. 2026-11-06
   days on market $339,900 Active 232 DOM
4. 2026-11-05
   days on market $339,900 Active 231 DOM
5. 2026-11-04
   days on market $339,900 Active 230 DOM
6. 2026-11-02
   days on market $339,900 Active 228 DOM
7. 2026-11-01
   days on market $339,900 Active 227 DOM
8. 2026-10-31
   days on market $339,900 Active 226 DOM
9. 2026-10-30
   days on market $339,900 Active 225 DOM
10. 2026-10-29
    days on market $339,900 Active 224 DOM
11. 2026-10-28
    days on market $339,900 Active 223 DOM
12. 2026-10-27
    days on market $339,900 Active 222 DOM
13. 2026-10-26
    days on market $339,900 Active 221 DOM
14. 2026-10-26
    days on market $339,900 Active 220 DOM
15. 2026-10-24
    days on market $339,900 Active 219 DOM
16. 2026-10-23
    days on market $339,900 Active 218 DOM
17. 2026-10-22
    days on market $339,900 Active 217 DOM
18. 2026-10-21
    days on market $339,900 Active 216 DOM
19. 2026-10-20
    days on market $339,900 Active 215 DOM
20. 2026-10-19
    days on market $339,900 Active 214 DOM
21. 2026-10-18
    days on market $339,900 Active 213 DOM
22. 2026-10-17
    days on market $339,900 Active 212 DOM
23. 2026-10-16
    days on market $339,900 Active 211 DOM
24. 2026-10-15
    days on market $339,900 Active 210 DOM
25. 2026-10-14
    days on market $339,900 Active 209 DOM
26. 2026-10-13
    days on market $339,900 Active 208 DOM
27. 2026-10-12
    days on market $339,900 Active 207 DOM
28. 2026-10-11
    days on market $339,900 Active 206 DOM
29. 2026-10-10
    days on market $339,900 Active 205 DOM
30. 2026-10-09
    days on market $339,900 Active 204 DOM
31. 2026-10-08
    days on market $339,900 Active 203 DOM
32. 2026-10-07
    days on market $339,900 Active 202 DOM
33. 2026-10-06
    days on market $339,900 Active 201 DOM
34. 2026-10-05
    days on market $339,900 Active 200 DOM
35. 2026-10-04
    days on market $339,900 Active 199 DOM
36. 2026-10-03
    days on market $339,900 Active 198 DOM
37. 2026-10-02
    days on market $339,900 Active 197 DOM
38. 2026-10-01
    days on market $339,900 Active 196 DOM
39. 2026-09-30
    days on market $339,900 Active 195 DOM
40. 2026-09-29
    days on market $339,900 Active 194 DOM
41. 2026-09-28
    days on market $339,900 Active 193 DOM
42. 2026-09-27
    days on market $339,900 Active 192 DOM
43. 2026-09-26
    days on market $339,900 Active 190 DOM
44. 2026-09-24
    days on market $339,900 Active 189 DOM
45. 2026-09-23
    days on market $339,900 Active 188 DOM
46. 2026-09-22
    days on market $339,900 Active 187 DOM
47. 2026-09-21
    days on market $339,900 Active 186 DOM
48. 2026-09-20
    days on market $339,900 Active 185 DOM
49. 2026-09-19
    days on market $339,900 Active 184 DOM
50. 2026-09-18
    days on market $339,900 Active 183 DOM

ⓘ 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: $2,393 · $199/mo
• Projected year-2 tax: $2,787 · $232/mo
• Expected delta: +$394/yr (+$33/mo · 16.5%)

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

Taxation est. · year 1

• Rental income: $26,865
• − Mortgage interest: −$19,040
• − Property taxes: −$2,393
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − HOA: −$1,080
• − Depreciation: −$9,888
• Taxable loss: −$11,533
• Est. tax savings @ 24.0%: +$2,768
• After-tax cash flow: $-2,571/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 · 6 photos

Good 80/100 Cosmetic rehab Est. rehab $8,075–$24,225 screening

This single-family home in Mallory Creek, Magnolia, is in good condition with a good condition score of 80. It features a modern open floor plan, two bathrooms, and well-maintained exterior. The home is ready for a new owner and would benefit from fresh paint and updated light fixtures to enhance its curb appeal and value.

Value-add opportunities

• Resale Paint exterior trim — Fresh paint can enhance curb appeal and home value. ↑
• Resale Replace light fixtures — Modern light fixtures can improve the home's aesthetic and energy efficiency. ↑

ⓘ 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.

F Composite school gradezoned avg 45/100

Zoned Schools

Elementary Town Creek Elementary C- NC #392/1,410 Nat'l #12,137/41,679 Middle Leland Middle F NC #326/475 Nat'l #8,646/14,009 High North Brunswick High C- NC #281/535 Nat'l #4,893/17,239

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

C Composite livability gradescore 68/100

Livability — Leland

• Score: 68/100
• State rank: #177
• US rank: #9158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leland, NC
• County: Brunswick · 152,111 people
• City population: 46,933
• Metro: Wilmington, NC
• Population (ZIP): 6,971
• Household income: $77,708
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 3% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 13% Two or more races 13% Hispanic / Latino 3%
• Languages at home: 97% English-only · Spanish 3%

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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: ▲ 1.23%
• Current HPI: 159.4516
• Rent YoY: —
• Metro: —
• 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

• HOA & community: Homeowners association with annual fee of $1,080 (about $90/month)HOA maintains grounds and provides managementCommunity amenities include a pool, playground, picnic area, sidewalks, and street lights

Exterior

• Parking: Attached front-facing garage2 garage spaces (2 total parking spaces)Paved driveway
• Security: Smoke detector(s)
• Utilities: Public waterSewer availableWater availableElectric service
• Home design: Single-family residenceOne storyResidential propertyHas a viewSubdivision: Mallory Creek Plantation
• Construction: Vinyl siding and frame constructionShingle roofSlab foundationBuilt on one level
• Exterior features: Covered patioPatioBack yard wood fencingLevel lotCity street and state road frontagePaved roads

Interior

• Kitchen: Electric ovenMicrowaveDishwasherGarbage disposalRefrigeratorKitchen islandPantry
• Bedrooms: Total rooms: 6
• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heat pumpCentral air conditioning
• Interior features: Walk-in closet(s)Entrance foyerKitchen islandPantryAccessible full bathSmoke detector(s)Energy-efficient lighting and thermostat
• Laundry & utility: WasherDryerLaundry roomElectric water heater

Price history

+12726.4% since first listed

7 events — show timeline

• 2026-05-12 Price Changed $339,900 Hive MLS
• 2026-04-10 Price Changed $349,500 Hive MLS
• 2026-03-19 Listed $355,000 Hive MLS
• 2025-09-05 Listing Removed — Hive MLS
• 2025-08-09 Listed $355,000 Hive MLS
• 2025-08-06 Rental Removed $2,650 Avail
• 2025-07-05 Listed for Rent $2,650 Avail

Property tax history

+0.0%/yr

Latest (2025): $2,393 · +0.0% YoY. Source: county tax records.