722 Chatham St · Newport, NC 28570

$330,000

3 bd · 2.0 ba · 1,728 sqft · Other public records · 60 Days on market

Built 1996 0.34 ac lot

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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

Attention Newport NC Buyers: New Listing on the corner of Chatham St and Pine Grove Rd you will find this spacious 3 bed 2 bath double garage home - inside you will see a Living Room with Vaulted Ceilings - completely renovated kitchen/dining area with gorgeous tile floors opens to rear deck for great entertaining - large principle suite with spacious walk-in-closet and office all new laminate flooring and freshly painted walls throughout - outside you will find a covered front porch vinyl picket fenced in front yard and a new 16 x 16 2 story shed - Within minutes of Marine Corps Air Station Cherry Point. Near school's, shopping, restaurants, medical facilities and enjoy a short drive to area beaches. Welcome to your next home!

Key facts

• New heat pump
• Trex decking
• Updated kitchen

Tags

• CORNER LOT
• TOTAL EXTERIOR REFRESH
• NEW HEAT PUMP
• UPDATED KITCHEN
• PRIVATE PRINCIPAL SUITE
• TREX DECKING

Property features AI

Exterior

• Parking: 2 total parking spaces; 2-car attached garage; Garage faces side; Concrete driveway; Garage door opener
• Utilities: Well water; Septic tank; Paved road access
• Home design: Single family residence; One-story; Entry level: 1; Residential zoning
• Construction: Vinyl siding with frame construction; Shingle roof; Crawl space foundation; Built as one-level (single story)
• Exterior features: Covered patio/porch; Deck; Front porch; Front yard fencing; Corner lot; Shed(s); Has a view

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator; Pantry; Eat-in kitchen
• Bedrooms: Total rooms: 6 (includes bedrooms and living spaces)
• Flooring: Laminate flooring; Ceramic tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating and cooling; Electric heating (as listed)
• Interior features: Walk-in closets; Vaulted ceilings; Ceiling fans; Pantry; Eat-in kitchen; Window coverings; Accessible full bathroom
• Laundry & utility: Laundry room; Washer; Dryer; Electric water heater; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $330k.

Deal economics

• At list price, monthly cash flow is $8k ($95k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $330k).
• Recommended offer: $320k (3.0% 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 $12,446/mo this rent would consume 213% 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 $2k of loan paydown is wiped out by about $10k 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 $92k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y ago; this cycle's ask has dropped $40k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $275k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $320,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 3.77% ✓
• Cap rate: 34.98%
• Cash-on-cash: 102.45%
• DSCR: 5.56
• GRM: 2.2

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: —
• Equity multiple: 5.86×
• Total profit: $448,915
• Equity at exit: $49,204

10-year hold

• IRR: —
• Equity multiple: 12.23×
• Total profit: $1,037,762
• Equity at exit: $28,532

Cash invested: $92,400 (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: 2.2×

Monthly cashflow live

• Estimated rent: $12,446 medium
• Mortgage (P&I): −$1,731
• Tax from tax record: −$76 /mo · $916/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,614
• Net cashflow: $7,888

Break-even live

Break-even rent $2,461

Max offer price $330,000

Occupancy floor 32%

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-09
   status $330,000 Pending 60 DOM
2. 2026-06-08
   days on market $330,000 Active 60 DOM
3. 2026-06-07
   days on market $330,000 Active 59 DOM
4. 2026-06-05
   days on market $330,000 Active 56 DOM
5. 2026-06-03
   days on market $330,000 Active 55 DOM
6. 2026-06-02
   days on market $330,000 Active 54 DOM
7. 2026-06-01
   days on market $330,000 Active 53 DOM
8. 2026-05-31
   days on market $330,000 Active 52 DOM
9. 2026-05-30
   days on market $330,000 Active 51 DOM
10. 2026-05-07
    price $330,000
11. 2026-04-28
    price $360,000
12. 2026-04-09
    listed $370,000 Active
13. 2022-04-14
    soldstatus $275,000 Closed 737-char remark

    Show marketing remark (737 chars)

    Attention Newport NC Buyers: New Listing on the corner of Chatham St and Pine Grove Rd you will find this spacious 3 bed 2 bath double garage home - inside you will see a Living Room with Vaulted Ceilings - completely renovated kitchen/dining area with gorgeous tile floors opens to rear deck for great entertaining - large principle suite with spacious walk-in-closet and office all new laminate flooring and freshly painted walls throughout - outside you will find a covered front porch vinyl picket fenced in front yard and a new 16 x 16 2 story shed - Within minutes of Marine Corps Air Station Cherry Point. Near school's, shopping, restaurants, medical facilities and enjoy a short drive to area beaches. Welcome to your next home!

14. 2022-04-14
    soldstatus $275,000

    Show marketing remark (737 chars)

    Attention Newport NC Buyers: New Listing on the corner of Chatham St and Pine Grove Rd you will find this spacious 3 bed 2 bath double garage home - inside you will see a Living Room with Vaulted Ceilings - completely renovated kitchen/dining area with gorgeous tile floors opens to rear deck for great entertaining - large principle suite with spacious walk-in-closet and office all new laminate flooring and freshly painted walls throughout - outside you will find a covered front porch vinyl picket fenced in front yard and a new 16 x 16 2 story shed - Within minutes of Marine Corps Air Station Cherry Point. Near school's, shopping, restaurants, medical facilities and enjoy a short drive to area beaches. Welcome to your next home!

15. 2022-03-01
    historical 737-char remark

    Show marketing remark (737 chars)

    Attention Newport NC Buyers: New Listing on the corner of Chatham St and Pine Grove Rd you will find this spacious 3 bed 2 bath double garage home - inside you will see a Living Room with Vaulted Ceilings - completely renovated kitchen/dining area with gorgeous tile floors opens to rear deck for great entertaining - large principle suite with spacious walk-in-closet and office all new laminate flooring and freshly painted walls throughout - outside you will find a covered front porch vinyl picket fenced in front yard and a new 16 x 16 2 story shed - Within minutes of Marine Corps Air Station Cherry Point. Near school's, shopping, restaurants, medical facilities and enjoy a short drive to area beaches. Welcome to your next home!

16. 2022-02-01
    listed $275,000 737-char remark

    Show marketing remark (737 chars)

    Attention Newport NC Buyers: New Listing on the corner of Chatham St and Pine Grove Rd you will find this spacious 3 bed 2 bath double garage home - inside you will see a Living Room with Vaulted Ceilings - completely renovated kitchen/dining area with gorgeous tile floors opens to rear deck for great entertaining - large principle suite with spacious walk-in-closet and office all new laminate flooring and freshly painted walls throughout - outside you will find a covered front porch vinyl picket fenced in front yard and a new 16 x 16 2 story shed - Within minutes of Marine Corps Air Station Cherry Point. Near school's, shopping, restaurants, medical facilities and enjoy a short drive to area beaches. Welcome to your next home!

17. 2011-04-25
    soldstatus $125,000 179-char remark

    Show marketing remark (179 chars)

    As is sale. Elig for Home Path/Home Path Ronovation Mtg. As little as 3pct down. Ask LA. Other room is part of MBR Suite. Access to deck, could be handicap accessible. REO#A101D06

18. 2011-04-25
    soldstatus $125,000

    Show marketing remark (179 chars)

    As is sale. Elig for Home Path/Home Path Ronovation Mtg. As little as 3pct down. Ask LA. Other room is part of MBR Suite. Access to deck, could be handicap accessible. REO#A101D06

19. 2010-12-14
    listed $149,900 179-char remark

    Show marketing remark (179 chars)

    As is sale. Elig for Home Path/Home Path Ronovation Mtg. As little as 3pct down. Ask LA. Other room is part of MBR Suite. Access to deck, could be handicap accessible. REO#A101D06

20. 2010-12-14
    listed $149,900

    Show marketing remark (179 chars)

    As is sale. Elig for Home Path/Home Path Ronovation Mtg. As little as 3pct down. Ask LA. Other room is part of MBR Suite. Access to deck, could be handicap accessible. REO#A101D06

21. 2010-10-01
    historical
22. 2010-07-28
    listed $169,900
23. 2008-11-01
    historical
24. 2008-03-06
    historical
25. 2007-09-19
    listed $198,000
26. 2007-09-19
    listed $215,000
27. 2006-02-28
    soldstatus $184,000
28. 2006-02-28
    soldstatus $184,000
29. 2006-02-28
    soldstatus $178,500
30. 2005-11-03
    listed $189,900
31. 2005-11-03
    listed $189,900

ⓘ 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: $916 · $76/mo
• Projected year-2 tax: $2,706 · $226/mo
• Expected delta: +$1,790/yr (+$149/mo · 195.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $149,357
• − Mortgage interest: −$18,485
• − Property taxes: −$916
• − Insurance: −$1,650
• − Repairs & maintenance: −$11,949
• − Management: −$11,949
• − Depreciation: −$9,600
• Taxable income: $94,809
• Est. tax owed @ 24.0%: −$22,754
• After-tax cash flow: $71,905/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

+73.8% since first listed

22 events — show timeline

• 2026-05-07 Price Changed $330,000 Hive MLS
• 2026-04-28 Price Changed $360,000 Hive MLS
• 2026-04-09 Listed $370,000 Hive MLS
• 2022-04-14 Sold (Public Records) $275,000 Public Records
• 2022-04-14 Sold (MLS) $275,000 Hive MLS
• 2022-03-01 Listing Removed — Hive MLS
• 2022-02-01 Listed $275,000 Hive MLS
• 2011-04-25 Sold (MLS) $125,000 Hive MLS
• 2011-04-25 Sold (MLS) $125,000 Hive MLS
• 2010-12-14 Listed $149,900 Hive MLS
• 2010-12-14 Listed $149,900 Hive MLS
• 2010-10-01 Listing Removed — Hive MLS
• 2010-07-28 Listed $169,900 Hive MLS
• 2008-11-01 Listing Removed — Hive MLS
• 2008-03-06 Listing Removed — Hive MLS
• 2007-09-19 Listed $215,000 Hive MLS
• 2007-09-19 Listed $198,000 Hive MLS
• 2006-02-28 Sold (Public Records) $178,500 Public Records
• 2006-02-28 Sold (MLS) $184,000 Hive MLS
• 2006-02-28 Sold (MLS) $184,000 Hive MLS
• 2005-11-03 Listed $189,900 Hive MLS
• 2005-11-03 Listed $189,900 Hive MLS

Property tax history

+1.3%/yr

Latest (2025): $916 · +52.4% YoY. Source: county tax records.