101 Ole Field Cir Unit C · Newport, NC 28570

$279,000

2 bd · 3.5 ba · 2,386 sqft · Condo · 68 Days on market

Built 2005 $148/mo HOA · 1% of rent

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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

What an opportunity! A large, spacious condo in a fantastic location close to Newport, Morehead City, Cherry Point and the beaches! Open concept living with 9 ft ceilings downstairs and vaulted ceiling on the finished third floor! Recent upgrades include brand new LVP flooring on first and third floor - third floor just completed adding another full bath, new HVAC and an amazing amount of space with lots of possibilities! Quiet location and room for the whole family and friends! Great size back deck for entertaining, and a large kitchen with island and plenty of cabinet space! You have to see this to believe how spacious this unit is, and all that it has to offer! Call today for more details!

Key facts

• $148 HOA
• Built 2005
• Listed 67 days

Property features AI

Finance

• Other: Zoning: R20; Directions available (Hwy 70 to Roberts Road, Right on Ole Field Cr., left into parking lot, Unit C)
• HOA & community: Homeowners association with annual fee; HOA covers grounds maintenance and water; Association fee: $1,780 annually (about $148.33/month); Community street lights; Subdivision: Pine Ridge

Exterior

• Parking: On-site paved parking lot; Lighted parking
• Security: Smoke detectors
• Utilities: Well water; Private sewer / septic tank
• Home design: Condominium; Residential property; Three or more levels; Entry on level 1
• Construction: Vinyl siding with frame construction; Slab foundation; Built with typical shingle roof
• Exterior features: Deck; Storm doors; Fenced (type: other); Shingle roof; Wooded lot; Paved roads and frontage on city street and state road; Has view

Interior

• Kitchen: Electric oven; Electric range; Microwave; Dishwasher; Refrigerator; Electric water heater
• Flooring: Carpet; Vinyl
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning; Ceiling fans for cooling
• Interior features: Walk-in closets; Vaulted ceilings; Kitchen island; Ceiling fans; Window coverings; Unfurnished
• Laundry & utility: Washer hookup; Laundry located in kitchen; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/3.5-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $6k ($70k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $279k).
• Recommended offer: $262k (6.0% 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 $9,976/mo this rent would consume 170% 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 $8k 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 $78k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago; this cycle's ask is 13186% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $240k; 16% 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 $262,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.58% ✓
• Cap rate: 31.26%
• Cash-on-cash: 89.17%
• DSCR: 4.97
• GRM: 2.3

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: 89.8%
• Equity multiple: 5.16×
• Total profit: $324,762
• Equity at exit: $41,600

10-year hold

• IRR: 92.8%
• Equity multiple: 10.73×
• Total profit: $759,865
• Equity at exit: $24,123

Cash invested: $78,120 (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: 2.3×

Monthly cashflow live

• Estimated rent: $9,976 medium
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$148
• Vacancy / Maint / Mgmt: −$2,095
• Net cashflow: $5,805

Break-even live

Break-even rent $2,628

Max offer price $279,000

Occupancy floor 37%

Sensitivity live

Price	-10% $5,998	-5% $5,902	+0% $5,805	+5% $5,709	+10% $5,612
Rent	-10% $5,017	-5% $5,411	+0% $5,805	+5% $6,199	+10% $6,593
Rate	-1.0pp $5,946	-0.5pp $5,876	base $5,805	+0.5pp $5,733	+1.0pp $5,659

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $148 · $1,776/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-19
   days on market $279,000 Active 68 DOM
2. 2026-06-18
   days on market $279,000 Active 67 DOM
3. 2026-06-17
   days on market $279,000 Active 66 DOM
4. 2026-06-16
   days on market $279,000 Active 65 DOM
5. 2026-06-15
   days on market $279,000 Active 64 DOM
6. 2026-06-14
   days on market $279,000 Active 62 DOM
7. 2026-06-12
   remarks 699-char remark
8. 2026-06-12
   listed $279,000 Active 61 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 21 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: $119,715
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$9,577
• − Management: −$9,577
• − HOA: −$1,776
• − Depreciation: −$8,116
• Taxable income: $69,460
• Est. tax owed @ 24.0%: −$16,670
• After-tax cash flow: $52,991/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

-98.2% since first listed

22 events — show timeline

• 2026-06-11 Listed for Rent $2,100 NCRMLS
• 2026-06-10 Relisted — Hive MLS
• 2026-05-06 Rental Removed $2,100 NCRMLS
• 2026-05-05 Price Changed $2,100 NCRMLS
• 2026-05-02 Listed for Rent $2,200 NCRMLS
• 2026-05-01 Price Changed $279,000 Hive MLS
• 2026-04-16 Price Changed $275,900 Hive MLS
• 2026-04-06 Price Changed $282,000 Hive MLS
• 2026-03-29 Price Changed $283,900 Hive MLS
• 2026-03-23 Price Changed $284,900 Hive MLS
• 2026-03-03 Listed $289,000 Hive MLS
• 2023-07-11 Sold (MLS) $240,000 Hive MLS
• 2023-06-21 Pending — Hive MLS
• 2023-06-13 Price Changed $240,000 Hive MLS
• 2023-06-13 Price Changed $245,000 Hive MLS
• 2023-06-05 Price Changed $255,000 Hive MLS
• 2023-05-19 Price Changed $274,500 Hive MLS
• 2023-04-21 Listed $279,500 Hive MLS
• 2021-03-29 Sold (MLS) $145,900 Hive MLS
• 2021-02-13 Listed $145,900 Hive MLS
• 2018-10-02 Sold (MLS) $118,000 Hive MLS
• 2018-08-08 Listed $117,500 Hive MLS