507 Virkus Dr NE · Bolivia, NC 28422

$324,990

4 bd · 2.5 ba · 2,197 sqft · SingleFamily · 182 Days on market

Built 2026 Excellent condition 5,227 sqft lot 2-car garage $148/sqft · 11% below area Est $365k · 11% under $85/mo HOA · 3% 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 +12.4/15.0
• Cash flow +8.2/30.0
• Schools +5.0/10.0
• Condition / age +5.0/5.0
• Livability +3.0/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

LIMITED-TIME HOMESITE SPECIAL! BRAND NEW FLOORPLAN! $5,000 SELLER CREDIT AVAILABLE! The Geneva single-family home is every bit as sophisticated as it is smart. Experience a thoughtfully designed floor plan with the stunning great room flowing into the gourmet kitchen and dining area. Enjoy your patio or optional covered porch for relaxing evenings. Upstairs, three bedrooms and a spacious loft provide perfect family space. Your luxurious main-level owner's suite features a walk-in closet and spa-like double vanity bath. Come home to the Geneva today!

Key facts

• Covered porch
• Gourmet kitchen
• Dining area

Tags

• GREAT ROOM
• GOURMET KITCHEN
• DINING AREA
• PATIO
• COVERED PORCH
• SPACIOUS LOFT

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $325k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-377 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (16.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $256k (21.3% below list).
• Recommended offer: $256k (21.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#549 in NC) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, cost of living B; Watch: amenities F, commute F, employment 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: Bolivia Elementary (math 50% / reading 43%, grade D-, #542 of 1,410 statewide, top 39%, 496 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: 867 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 44% of the median local income ($69k/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 $10k 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 182 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $255,782 (21.3% 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 182 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 5.15%
• Cash-on-cash: -4.09%
• DSCR: 0.82
• GRM: 10.6

CMA / ARV

• ARV (median comp): $364,644
• List price: $324,990
• Delta: -10.87%
• 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
324 Powis Dr NE	0.07mi	3/3.0 (-1)	2,107 (-4%)	1mo	$338,560	$161	82
562 Shady Birch Ln NE	0.26mi	3/2.5 (-1)	2,294 (+4%)	4mo	$391,287	$171	72
914 Rindlewood Trl NE	0.25mi	3/2.5 (-1)	2,294 (+4%)	9mo	$410,290	$179	68
574 Shady Birch Ln NE	0.45mi	3/2.5 (-1)	2,294 (+4%)	1mo	$349,995	$153	66
1234 Middle Crest Dr NE	0.23mi	3/2.5 (-1)	2,325 (+6%)	12mo	$391,500	$168	65
550 Shady Birch Ln NE	0.30mi	3/2.5 (-1)	2,294 (+4%)	11mo	$409,500	$179	65
1206 Middle Crest Dr NE	0.29mi	4/2.5	2,423 (+10%)	6mo	$388,425	$160	64
1254 Middle Crest Dr NE	0.25mi	3/2.0 (-1)	2,294 (+4%)	12mo	$422,895	$184	64
2163 Webfoot Dr NE	0.11mi	3/2.0 (-1)	1,898 (-14%)	4mo	$359,000	$189	62
558 Shady Birch Ln NE	0.25mi	3/2.5 (-1)	2,423 (+10%)	6mo	$367,925	$152	61
554 Shady Birch Ln NE	0.15mi	3/2.0 (-1)	1,898 (-14%)	8mo	$379,115	$200	57
1250 Middle Crest Dr NE	0.19mi	3/2.0 (-1)	1,898 (-14%)	13mo	$413,525	$218	51

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: -24.7%
• Equity multiple: 0.16×
• Total profit: $-76,524
• Equity at exit: $48,457

10-year hold

• IRR: -20.2%
• Equity multiple: -0.07×
• Total profit: $-96,995
• Equity at exit: $28,099

Cash invested: $90,997 (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: 25 active · 24 under contract
• Months of supply: 10.7 mo (9%/mo absorbed)
• Median asking: $349,990 ($161/sqft)
• Median days on market: 45 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: +2.9% vs current asking $/sqft

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

ZIP-level market 28422

• Home prices YoY: -23.8%
• Active inventory: 867
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,558 medium
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$85
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $-377

Break-even live

Break-even rent $3,035

Max offer price $270,479

Occupancy floor —

Sensitivity live

Price	-10% $-152	-5% $-264	+0% $-377	+5% $-489	+10% $-601
Rent	-10% $-579	-5% $-478	+0% $-377	+5% $-276	+10% $-175
Rate	-1.0pp $-213	-0.5pp $-294	base $-377	+0.5pp $-461	+1.0pp $-547

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: $81,248
• Closing costs: $9,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1127 Middle Crest Dr NE , NC	3.0	2.0	1963	$2,200	$1.12	164d	1	0.53mi

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Homeowners associationAssociation amenities: cabana, dog park, maintained grounds, playground, trash service, sport courtAssociation fee: $1,015 annually (about $84.58/month)

Exterior

• Parking: 2 parking spaces totalAttached 2-car garage with garage door openerGarage faces frontConcrete driveway / paved
• Security: Smoke detectors
• Utilities: Public waterSewer connectedNatural gas connectedWater connectedElectric service
• Home design: Single-family residenceTwo levelsEntry level: 1Slab foundationVinyl siding with stone veneer and frame constructionHome warranty includedSubdivision: Middle Creek Village
• Construction: Built with vinyl siding, stone veneer and frameShingle roofSlab foundationNew construction
• Exterior features: PatioPrivate paved road frontagePaved roadsNo fencingShingle roofHas a viewNew constructionPool: noneCommunity features: pool, sidewalks, street lights

Interior

• Kitchen: Gas ovenGas cooktopGas rangeDishwasherDisposalMicrowaveKitchen islandPantryEat-in kitchenElectric water heater
• Bedrooms: Master downstairs
• Flooring: CarpetCeramic tile
• Bathrooms: 2 full bathrooms1 half bathroomAccessible full bath
• Heating & cooling: Central air with zoned coolingForced-air heating (natural gas) with zoned heating
• Interior features: Master suite on the main floorWalk-in closetsTray ceilingsHigh ceilingsEntrance foyerKitchen islandPantryEat-in kitchenUnfurnished
• Laundry & utility: Laundry room with washer hookup

Listing history 50 events

1. 2026-11-06
   days on market $324,990 Active 182 DOM
2. 2026-11-05
   days on market $324,990 Active 181 DOM
3. 2026-11-04
   days on market $324,990 Active 180 DOM
4. 2026-11-02
   days on market $324,990 Active 178 DOM
5. 2026-11-01
   days on market $324,990 Active 177 DOM
6. 2026-10-31
   days on market $324,990 Active 176 DOM
7. 2026-10-30
   days on market $324,990 Active 175 DOM
8. 2026-10-29
   days on market $324,990 Active 174 DOM
9. 2026-10-28
   days on market $324,990 Active 173 DOM
10. 2026-10-27
    days on market $324,990 Active 172 DOM
11. 2026-10-26
    days on market $324,990 Active 171 DOM
12. 2026-10-26
    days on market $324,990 Active 170 DOM
13. 2026-10-24
    days on market $324,990 Active 169 DOM
14. 2026-10-23
    days on market $324,990 Active 168 DOM
15. 2026-10-22
    days on market $324,990 Active 167 DOM
16. 2026-10-21
    days on market $324,990 Active 166 DOM
17. 2026-10-20
    days on market $324,990 Active 165 DOM
18. 2026-10-19
    days on market $324,990 Active 164 DOM
19. 2026-10-18
    days on market $324,990 Active 163 DOM
20. 2026-10-17
    days on market $324,990 Active 162 DOM
21. 2026-10-16
    days on market $324,990 Active 161 DOM
22. 2026-10-15
    days on market $324,990 Active 160 DOM
23. 2026-10-14
    days on market $324,990 Active 159 DOM
24. 2026-10-13
    days on market $324,990 Active 158 DOM
25. 2026-10-12
    days on market $324,990 Active 157 DOM
26. 2026-10-11
    days on market $324,990 Active 156 DOM
27. 2026-10-10
    days on market $324,990 Active 155 DOM
28. 2026-10-09
    days on market $324,990 Active 154 DOM
29. 2026-10-08
    days on market $324,990 Active 153 DOM
30. 2026-10-07
    days on market $324,990 Active 152 DOM
31. 2026-10-06
    days on market $324,990 Active 151 DOM
32. 2026-10-05
    days on market $324,990 Active 150 DOM
33. 2026-10-04
    days on market $324,990 Active 149 DOM
34. 2026-10-03
    days on market $324,990 Active 148 DOM
35. 2026-10-02
    days on market $324,990 Active 147 DOM
36. 2026-10-01
    days on market $324,990 Active 146 DOM
37. 2026-09-30
    days on market $324,990 Active 145 DOM
38. 2026-09-29
    days on market $324,990 Active 144 DOM
39. 2026-09-28
    pricedays on market $324,990 Active 143 DOM
40. 2026-09-27
    days on market $334,990 Active 142 DOM
41. 2026-09-26
    days on market $334,990 Active 140 DOM
42. 2026-09-24
    days on market $334,990 Active 139 DOM
43. 2026-09-23
    days on market $334,990 Active 138 DOM
44. 2026-09-22
    pricedays on market $334,990 Active 137 DOM
45. 2026-09-21
    days on market $324,990 Active 136 DOM
46. 2026-09-20
    days on market $324,990 Active 135 DOM
47. 2026-09-19
    days on market $324,990 Active 134 DOM
48. 2026-09-18
    days on market $324,990 Active 133 DOM
49. 2026-09-17
    days on market $324,990 Active 132 DOM
50. 2026-09-16
    pricedays on market $324,990 Active 131 DOM

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $30,694
• − Mortgage interest: −$18,204
• − Property taxes: −$4,875
• − Insurance: −$2,422
• − Repairs & maintenance: −$2,456
• − Management: −$2,456
• − HOA: −$1,020
• − Depreciation: −$9,454
• Taxable loss: −$10,193
• Est. tax savings @ 24.0%: +$2,446
• After-tax cash flow: $-2,074/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

Excellent 100/100 None rehab

This brand-new single-family home is move-in ready with a modern design and top-notch features, making it an excellent investment for both resale and rental markets.

Value-add opportunities

• Both Landscaping and patio furniture — Enhances curb appeal and outdoor living space ↑
• Both Smart home integration — Improves convenience and energy efficiency ↑
• Both Smart thermostat — Saves energy and improves comfort ↑

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Bolivia Elementary D- NC #542/1,410 Nat'l #15,452/41,679 Middle South Brunswick Middle D NC #160/475 Nat'l #4,622/14,009 High South Brunswick High C+ NC #216/535 Nat'l #3,588/17,239

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

D Composite livability gradescore 59/100

Livability — Bolivia

• Score: 59/100
• State rank: #549
• US rank: #20206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 152,111 people
• City population: 10,059
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 10,059
• Household income: $69,412
• Rent vs Own: 13.7% rent · 86.3% own

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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 (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 8% Hispanic / Latino 3% Native American 1%
• Languages at home: 95% English-only · Spanish 4%

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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: ▼ -44.19%
• Current HPI: 141.1956
• Rent YoY: —
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-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

• Other: Pets allowed
• HOA & community: Homeowners associationAssociation amenities: cabana, dog park, maintained grounds, playground, trash service, sport courtAssociation fee: $1,015 annually (about $84.58/month)

Exterior

• Parking: 2 parking spaces totalAttached 2-car garage with garage door openerGarage faces frontConcrete driveway / paved
• Security: Smoke detectors
• Utilities: Public waterSewer connectedNatural gas connectedWater connectedElectric service
• Home design: Single-family residenceTwo levelsEntry level: 1Slab foundationVinyl siding with stone veneer and frame constructionHome warranty includedSubdivision: Middle Creek Village
• Construction: Built with vinyl siding, stone veneer and frameShingle roofSlab foundationNew construction
• Exterior features: PatioPrivate paved road frontagePaved roadsNo fencingShingle roofHas a viewNew constructionPool: noneCommunity features: pool, sidewalks, street lights

Interior

• Kitchen: Gas ovenGas cooktopGas rangeDishwasherDisposalMicrowaveKitchen islandPantryEat-in kitchenElectric water heater
• Bedrooms: Master downstairs
• Flooring: CarpetCeramic tile
• Bathrooms: 2 full bathrooms1 half bathroomAccessible full bath
• Heating & cooling: Central air with zoned coolingForced-air heating (natural gas) with zoned heating
• Interior features: Master suite on the main floorWalk-in closetsTray ceilingsHigh ceilingsEntrance foyerKitchen islandPantryEat-in kitchenUnfurnished
• Laundry & utility: Laundry room with washer hookup

Price history

+1.5% since first listed

2 events — show timeline

• 2026-06-26 Price Changed $334,990 Hive MLS
• 2026-05-07 Listed $329,990 Hive MLS