53 Elm Rd · Boiling Spring Lakes, NC 28461

$120,000

3 bd · 1.0 ba · 924 sqft · Manufactured public records · 2 Days on market

Built 1993 10,454 sqft lot Est $167k · 28% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 2 bedroom, 2 bathroom single-wide home is a strong addition to any rental portfolio, offering immediate income potential with a lease already in place through February 2027. Located in Boiling Spring Lakes, you can enjoy the community's parks, scenic walking trails, golf course, and more. The property is also within driving distance of the area's coastal beaches. Seller has two other properties for sale in the neighborhood, 198 Sycamore Road and 69 Elm Road, and is willing to sell them as a package. Ask for more details!

Key facts

• 0.24 acre lot
• Built 1993
• Listed 2 days

Property features AI

Exterior

• Parking: Unpaved parking
• Utilities: Water connected; Septic tank
• Home design: Manufactured home (residential); One story; Entry level: 1
• Construction: Aluminum siding and frame construction; Permanent foundation; Membrane roof; Built as a manufactured home
• Exterior features: Deck; Has a view; No fencing

Interior

• Kitchen: Electric range
• Bedrooms: Total of 4 rooms (bedrooms and living spaces included)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump and electric heating; Has cooling (heat pump)
• Interior features: Electric range

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $766 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 13.9% vs local median 4.1% in Boiling Spring Lakes — 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 59/100 on livability (#542 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, 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.
• 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: Rents flat; 877 active listings in the ZIP; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y ago 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.

Risks & watch-outs

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

Recommended offer $120,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.55% ✓
• Cap rate: 13.95%
• Cash-on-cash: 27.34%
• DSCR: 2.22
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $167,244
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Sycamore Rd	0.13mi	3/2.0	928 (+0%)	4mo	$160,000	$172	86
293 Sycamore Rd	0.34mi	2/2.0 (-1)	840 (-9%)	6mo	$175,000	$208	55
1845 Juniper Rd	0.60mi	2/2.0 (-1)	950 (+3%)	14mo	$172,000	$181	47

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 1.75×
• Total profit: $25,125
• Equity at exit: $17,892

10-year hold

• IRR: 25.8%
• Equity multiple: 3.03×
• Total profit: $68,216
• Equity at exit: $10,375

Cash invested: $33,600 (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 28461

• Rents YoY: 0.7%
• Active inventory: 877
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,865 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$29 /mo · $343/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $766

Break-even live

Break-even rent $896

Max offer price $120,000

Occupancy floor 54%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $120,000 Active 2 DOM
2. 2026-06-16
   remarks 531-char remark
3. 2026-06-16
   listed $120,000 Active 1 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: $343 · $29/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$641/yr (+$53/mo · 187.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 52% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 18 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: $22,382
• − Mortgage interest: −$6,722
• − Property taxes: −$343
• − Insurance: −$600
• − Repairs & maintenance: −$1,791
• − Management: −$1,791
• − Depreciation: −$3,491
• Taxable income: $7,646
• Est. tax owed @ 24.0%: −$1,835
• After-tax cash flow: $7,353/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 — Boiling Spring Lakes

• Score: 59/100
• State rank: #542
• US rank: #19781

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boiling Spring Lakes, NC
• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 23,762
• Household income: $82,692
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 161.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -195.19%
• Current HPI: 142.5667
• Rent YoY: ▲ 0.74%
• 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

+160.9% since first listed

20 events — show timeline

• 2026-06-16 Listed $120,000 Hive MLS
• 2026-01-15 Sold (Public Records) $422,500 Public Records
• 2025-12-11 Pending — Hive MLS
• 2025-11-05 Pending — Hive MLS
• 2025-11-04 Listing Removed — Hive MLS
• 2025-10-28 Listed $118,000 Hive MLS
• 2024-07-26 Listing Removed — Hive MLS
• 2024-07-19 Listed $135,000 Hive MLS
• 2024-07-03 Listing Removed — Hive MLS
• 2024-06-05 Listed $85,000 Hive MLS
• 2022-02-01 Sold (Public Records) $170,000 Public Records
• 2020-08-19 Listing Removed — Hive MLS
• 2020-01-13 Listed $45,000 Hive MLS
• 2013-10-30 Sold (Public Records) $40,000 Public Records
• 2013-10-14 Listing Removed — Hive MLS
• 2012-11-16 Listed $52,900 Hive MLS
• 2007-06-18 Sold (Public Records) $62,000 Public Records
• 2007-06-18 Sold (MLS) $62,000 Hive MLS
• 2007-04-10 Listed $68,500 Hive MLS
• 2005-09-06 Sold (Public Records) $46,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $343 · +10.2% YoY. Source: county tax records.