507 Virkus Dr NE · Bolivia, NC 28422

$334,990

4 bd · 2.5 ba · 2,197 sqft · SingleFamily · 92 Days on market

Built 2026 Excellent condition 5,227 sqft lot 2-car garage $152/sqft · 8% below area Est $365k · 8% 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 +11.1/15.0
• Cash flow +7.2/30.0
• Schools +5.0/10.0
• Condition / age +5.0/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.4/10.0
• 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 $335k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-526 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (22.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (26.7% below list).
• Recommended offer: $246k (26.7% 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: 690 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 42% 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 92 days — a 9% lower offer ($305k) 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 $245,671 (26.7% 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 92 days. Have you received any prior offers? Is the seller open to a 27% 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: 0.73% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.88%
• DSCR: 0.74
• GRM: 11.4

CMA / ARV

• ARV (median comp): $364,552
• List price: $334,990
• Delta: -8.11%
• 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
562 Shady Birch Ln NE	0.26mi	3/2.5 (-1)	2,294 (+4%)	1mo	$391,287	$171	75
914 Rindlewood Trl NE	0.25mi	3/2.5 (-1)	2,294 (+4%)	6mo	$410,290	$179	71
1234 Middle Crest Dr NE	0.23mi	3/2.5 (-1)	2,325 (+6%)	9mo	$391,500	$168	67
550 Shady Birch Ln NE	0.30mi	3/2.5 (-1)	2,294 (+4%)	8mo	$409,500	$179	67
1206 Middle Crest Dr NE	0.29mi	4/2.5	2,423 (+10%)	3mo	$388,425	$160	67
1254 Middle Crest Dr NE	0.25mi	3/2.0 (-1)	2,294 (+4%)	9mo	$422,895	$184	66
2163 Webfoot Dr NE	0.11mi	3/2.0 (-1)	1,898 (-14%)	2mo	$359,000	$189	64
558 Shady Birch Ln NE	0.25mi	3/2.5 (-1)	2,423 (+10%)	3mo	$367,925	$152	64
1242 Middle Crest Dr NE	0.21mi	3/3.0 (-1)	2,325 (+6%)	13mo	$391,175	$168	62
554 Shady Birch Ln NE	0.15mi	3/2.0 (-1)	1,898 (-14%)	5mo	$379,115	$200	60
1250 Middle Crest Dr NE	0.19mi	3/2.0 (-1)	1,898 (-14%)	10mo	$413,525	$218	53
1713 Piney Creek Rd NE	0.22mi	3/2.0 (-1)	1,898 (-14%)	16mo	$382,670	$202	46

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: -27.9%
• Equity multiple: 0.07×
• Total profit: $-87,635
• Equity at exit: $49,948

10-year hold

• IRR: -26.3%
• Equity multiple: -0.27×
• Total profit: $-118,895
• Equity at exit: $28,964

Cash invested: $93,797 (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: 16 active · 14 under contract
• Months of supply: 7.4 mo (14%/mo absorbed)
• Median asking: $349,990 ($153/sqft)
• Median days on market: 72 d
• This list price: 31% of active listings are priced below it
• ARV vs active asking: +8.2% 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: 690
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,457 medium
• Mortgage (P&I): −$1,757
• Tax est. 1.5%: −$419 /mo · $5,025/yr
• Insurance: −$140
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$85
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $-526

Break-even live

Break-even rent $3,122

Max offer price $258,921

Occupancy floor —

Sensitivity live

Price	-10% $-294	-5% $-410	+0% $-526	+5% $-641	+10% $-757
Rent	-10% $-720	-5% $-623	+0% $-526	+5% $-429	+10% $-332
Rate	-1.0pp $-357	-0.5pp $-440	base $-526	+0.5pp $-613	+1.0pp $-701

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: $83,748
• Closing costs: $10,050
• 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	72d	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. 2026-08-08
   days on market $334,990 Active 92 DOM
2. 2026-08-07
   days on market $334,990 Active 91 DOM
3. 2026-08-06
   days on market $334,990 Active 90 DOM
4. 2026-08-05
   days on market $334,990 Active 89 DOM
5. 2026-08-04
   days on market $334,990 Active 88 DOM
6. 2026-08-03
   days on market $334,990 Active 87 DOM
7. 2026-07-31
   days on market $334,990 Active 84 DOM
8. 2026-07-30
   days on market $334,990 Active 82 DOM
9. 2026-07-27
   days on market $334,990 Active 80 DOM
10. 2026-07-25
    days on market $334,990 Active 78 DOM
11. 2026-07-24
    days on market $334,990 Active 77 DOM
12. 2026-07-23
    days on market $334,990 Active 76 DOM
13. 2026-07-22
    days on market $334,990 Active 75 DOM
14. 2026-07-21
    days on market $334,990 Active 74 DOM
15. 2026-07-18
    days on market $334,990 Active 71 DOM
16. 2026-07-16
    days on market $334,990 Active 69 DOM
17. 2026-07-16
    days on market $334,990 Active 68 DOM
18. 2026-07-14
    days on market $334,990 Active 67 DOM
19. 2026-07-13
    days on market $334,990 Active 66 DOM
20. 2026-07-12
    days on market $334,990 Active 65 DOM
21. 2026-07-11
    days on market $334,990 Active 64 DOM
22. 2026-07-10
    days on market $334,990 Active 63 DOM
23. 2026-07-09
    days on market $334,990 Active 62 DOM
24. 2026-07-08
    days on market $334,990 Active 61 DOM
25. 2026-07-07
    days on market $334,990 Active 60 DOM
26. 2026-07-06
    days on market $334,990 Active 59 DOM
27. 2026-07-05
    days on market $334,990 Active 58 DOM
28. 2026-07-04
    days on market $334,990 Active 57 DOM
29. 2026-07-03
    days on market $334,990 Active 56 DOM
30. 2026-07-02
    days on market $334,990 Active 55 DOM
31. 2026-07-01
    days on market $334,990 Active 54 DOM
32. 2026-06-30
    days on market $334,990 Active 53 DOM
33. 2026-06-29
    days on market $334,990 Active 52 DOM
34. 2026-06-28
    days on market $334,990 Active 51 DOM
35. 2026-06-28
    days on market $334,990 Active 50 DOM
36. 2026-06-27
    pricedays on market $334,990 Active 49 DOM
37. 2026-06-25
    days on market $329,990 Active 47 DOM
38. 2026-06-23
    days on market $329,990 Active 45 DOM
39. 2026-06-22
    days on market $329,990 Active 44 DOM
40. 2026-06-18
    days on market $329,990 Active 41 DOM
41. 2026-06-17
    days on market $329,990 Active 40 DOM
42. 2026-06-16
    days on market $329,990 Active 39 DOM
43. 2026-06-15
    days on market $329,990 Active 38 DOM
44. 2026-06-14
    days on market $329,990 Active 36 DOM
45. 2026-06-13
    days on market $329,990 Active 35 DOM
46. 2026-06-10
    days on market $329,990 Active 33 DOM
47. 2026-06-09
    days on market $329,990 Active 32 DOM
48. 2026-06-08
    days on market $329,990 Active 31 DOM
49. 2026-06-07
    days on market $329,990 Active 30 DOM
50. 2026-06-05
    days on market $329,990 Active 27 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: $29,481
• − Mortgage interest: −$18,765
• − Property taxes: −$5,025
• − Insurance: −$2,472
• − Repairs & maintenance: −$2,358
• − Management: −$2,358
• − HOA: −$1,020
• − Depreciation: −$9,745
• Taxable loss: −$12,263
• Est. tax savings @ 24.0%: +$2,943
• After-tax cash flow: $-3,365/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%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 3% · Canada
• 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