4613 Oak Crest Dr SE · Oak Island, NC 28461

$205,000

2 bd · 2.0 ba · 896 sqft · Manufactured public records · 361 Days on market

Built 1994 6,534 sqft lot Est $159k · 29% over

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Why this score? — see what drove the F 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 +7.9/30.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming, beachy home boasts a great location in Southport's Sea Pines community. No HOA, convenient city water and sewer and only 5 miles to the beautiful beaches of Oak Island & Caswell or the picturesque Southport Riverfront with all its shops and restaurants. Just minutes to grocery stores, coffee shops, hardware stores and shopping. The home has been recently remodeled with improvements including interior and exterior paint, updated fixtures, LVP flooring throughout, updated stove and an amazing walk-in shower with bench in the master bathroom. Here's a biggie, the HVAC was installed January 2024! Enjoy entertaining in the comfy living area with a ''cook ready'' kitchen and dining room. The metal roof is less than 5 years old. New water heater in 2024! Per the seller, insulation under the residence and the plumbing have also been updated. A spacious screened in porch is great for entertaining and enjoying our beautiful North Carolina weather. The home has always been a vacation home and has been very well maintained. Escape to coastal NC and enjoy summer fun year round! Sound too good to be true? A pre-listing home inspection has been completed. Schedule your showing today!

Key facts

• Recently remodeled
• Lpv flooring
• City water and sewer

Tags

• NO HOA
• CITY WATER AND SEWER
• NO CITY TAX
• SOUTHPORT RIVER FRONT
• RECENTLY REMODELED
• LPV FLOORING

Property features AI

Exterior

• Parking: Gravel tandem parking
• Security: Smoke detector(s)
• Utilities: Public water; Sewer connected; Water connected; Electric heating (forced air, heat pump); Central air conditioning
• Home design: Manufactured home; One level; Interior lot; Paved road
• Construction: Aluminum siding; Metal roof; Crawl space foundation; Built as a manufactured home
• Exterior features: Porch (screened); Shed(s)

Interior

• Kitchen: Electric oven; Electric cooktop; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: Total rooms: 5
• Bathrooms: 2 full bathrooms; Accessible full bath
• Interior features: Ceiling fan(s); Window coverings; Partially furnished; No fireplace
• Laundry & utility: Washer; Dryer; Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $-219 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (15.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (26.0% below list).
• Recommended offer: $152k (26.0% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 2.8% in Oak Island — 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 67/100 on livability (#233 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: health & safety D, amenities F, commute 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: Southport Elementary (math 59% / reading 56%, grade C+, #245 of 1,410 statewide, top 18%, 403 students, 99% FRL); South Brunswick Middle (math 41% / reading 49%, grade D, #160 of 475 statewide, top 35%, 572 students, 100% FRL); North Brunswick High (math 57% / reading 49%, grade C-, #281 of 535 statewide, top 53%, 1,450 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; 884 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 $1k of loan paydown is wiped out by about $6k 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 361 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,617 (26.0% 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 361 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.74% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.58%
• DSCR: 0.80
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $158,592
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4503 Sweetbay Dr SE	0.25mi	3/2.0 (+1)	905 (+1%)	10mo	$174,000	$192	73
4715 Bluewater St SE	0.24mi	2/2.0	840 (-6%)	13mo	$95,000	$113	68
4676 Southgate Blvd SE	0.16mi	2/2.0	800 (-11%)	11mo	$155,000	$194	66
4329 Flagship Ave SE	0.25mi	3/2.0 (+1)	840 (-6%)	11mo	$85,000	$101	64
4396 Sweetbay Dr SE	0.07mi	2/2.0	1,016 (+13%)	15mo	$221,000	$218	62
4812 Coastal Dr SE	0.39mi	2/1.5	800 (-11%)	0mo	$124,000	$155	62
4193 9th St SE	0.50mi	2/2.0	900 (+0%)	17mo	$165,000	$183	62
4304 Flagship Ave SE	0.28mi	3/2.0 (+1)	960 (+7%)	14mo	$115,000	$120	58
4657 Bluewater St SE	0.24mi	2/1.0	840 (-6%)	20mo	$69,000	$82	58
4410 Sea Pines Dr SE	0.49mi	3/2.0 (+1)	901 (+1%)	21mo	$180,000	$200	54
4152 9th St SE	0.50mi	3/2.0 (+1)	1,000 (+12%)	12mo	$120,000	$120	42
4819 Coastal Dr SE	0.36mi	3/2.0 (+1)	990 (+10%)	24mo	$175,000	$177	41

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: -26.6%
• Equity multiple: 0.12×
• Total profit: $-50,512
• Equity at exit: $30,566

10-year hold

• IRR: -33.7%
• Equity multiple: -0.31×
• Total profit: $-75,070
• Equity at exit: $17,725

Cash invested: $57,400 (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 28461

• Rents YoY: 0.7%
• Active inventory: 884
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,516 medium
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-219

Break-even live

Break-even rent $1,793

Max offer price $173,320

Occupancy floor —

Sensitivity live

Price	-10% $-77	-5% $-148	+0% $-219	+5% $-290	+10% $-361
Rent	-10% $-339	-5% $-279	+0% $-219	+5% $-159	+10% $-99
Rate	-1.0pp $-116	-0.5pp $-167	base $-219	+0.5pp $-272	+1.0pp $-326

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2025-12-12
   status Active
2. 2025-12-12
   historical
3. 2025-09-17
   price $205,000
4. 2025-08-16
   price $210,000
5. 2025-07-16
   price $215,000
6. 2025-06-28
   price $220,000
7. 2025-05-28
   listed $225,000 Active
8. 2025-05-17
   historical
9. 2025-03-04
   listed $200,000 Active
10. 2024-04-09
    soldstatus $178,500 Closed 1210-char remark

    Show marketing remark (1210 chars)

    This charming, beachy home boasts a great location in Southport's Sea Pines community. No HOA, convenient city water and sewer and only 5 miles to the beautiful beaches of Oak Island & Caswell or the picturesque Southport Riverfront with all its shops and restaurants. Just minutes to grocery stores, coffee shops, hardware stores and shopping. The home has been recently remodeled with improvements including interior and exterior paint, updated fixtures, LVP flooring throughout, updated stove and an amazing walk-in shower with bench in the master bathroom. Here's a biggie, the HVAC was installed January 2024! Enjoy entertaining in the comfy living area with a ''cook ready'' kitchen and dining room. The metal roof is less than 5 years old. New water heater in 2024! Per the seller, insulation under the residence and the plumbing have also been updated. A spacious screened in porch is great for entertaining and enjoying our beautiful North Carolina weather. The home has always been a vacation home and has been very well maintained. Escape to coastal NC and enjoy summer fun year round! Sound too good to be true? A pre-listing home inspection has been completed. Schedule your showing today!

11. 2024-02-04
    status Pending 1210-char remark

    Show marketing remark (1210 chars)

    This charming, beachy home boasts a great location in Southport's Sea Pines community. No HOA, convenient city water and sewer and only 5 miles to the beautiful beaches of Oak Island & Caswell or the picturesque Southport Riverfront with all its shops and restaurants. Just minutes to grocery stores, coffee shops, hardware stores and shopping. The home has been recently remodeled with improvements including interior and exterior paint, updated fixtures, LVP flooring throughout, updated stove and an amazing walk-in shower with bench in the master bathroom. Here's a biggie, the HVAC was installed January 2024! Enjoy entertaining in the comfy living area with a ''cook ready'' kitchen and dining room. The metal roof is less than 5 years old. New water heater in 2024! Per the seller, insulation under the residence and the plumbing have also been updated. A spacious screened in porch is great for entertaining and enjoying our beautiful North Carolina weather. The home has always been a vacation home and has been very well maintained. Escape to coastal NC and enjoy summer fun year round! Sound too good to be true? A pre-listing home inspection has been completed. Schedule your showing today!

12. 2024-01-25
    status Active 1210-char remark

    Show marketing remark (1210 chars)

    This charming, beachy home boasts a great location in Southport's Sea Pines community. No HOA, convenient city water and sewer and only 5 miles to the beautiful beaches of Oak Island & Caswell or the picturesque Southport Riverfront with all its shops and restaurants. Just minutes to grocery stores, coffee shops, hardware stores and shopping. The home has been recently remodeled with improvements including interior and exterior paint, updated fixtures, LVP flooring throughout, updated stove and an amazing walk-in shower with bench in the master bathroom. Here's a biggie, the HVAC was installed January 2024! Enjoy entertaining in the comfy living area with a ''cook ready'' kitchen and dining room. The metal roof is less than 5 years old. New water heater in 2024! Per the seller, insulation under the residence and the plumbing have also been updated. A spacious screened in porch is great for entertaining and enjoying our beautiful North Carolina weather. The home has always been a vacation home and has been very well maintained. Escape to coastal NC and enjoy summer fun year round! Sound too good to be true? A pre-listing home inspection has been completed. Schedule your showing today!

13. 2024-01-21
    listed $185,000 Active 1210-char remark

    Show marketing remark (1210 chars)

    This charming, beachy home boasts a great location in Southport's Sea Pines community. No HOA, convenient city water and sewer and only 5 miles to the beautiful beaches of Oak Island & Caswell or the picturesque Southport Riverfront with all its shops and restaurants. Just minutes to grocery stores, coffee shops, hardware stores and shopping. The home has been recently remodeled with improvements including interior and exterior paint, updated fixtures, LVP flooring throughout, updated stove and an amazing walk-in shower with bench in the master bathroom. Here's a biggie, the HVAC was installed January 2024! Enjoy entertaining in the comfy living area with a ''cook ready'' kitchen and dining room. The metal roof is less than 5 years old. New water heater in 2024! Per the seller, insulation under the residence and the plumbing have also been updated. A spacious screened in porch is great for entertaining and enjoying our beautiful North Carolina weather. The home has always been a vacation home and has been very well maintained. Escape to coastal NC and enjoy summer fun year round! Sound too good to be true? A pre-listing home inspection has been completed. Schedule your showing today!

14. 2023-12-19
    soldstatus $85,000
15. 1999-10-01
    soldstatus $8,500

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,194
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$5,964
• Taxable loss: −$6,264
• Est. tax savings @ 24.0%: +$1,503
• After-tax cash flow: $-1,124/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 — Oak Island

• Score: 67/100
• State rank: #233
• US rank: #10757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 8,756
• 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

+2311.8% since first listed

15 events — show timeline

• 2025-12-12 Relisted — Hive MLS
• 2025-12-12 Listing Removed — Hive MLS
• 2025-09-17 Price Changed $205,000 Hive MLS
• 2025-08-16 Price Changed $210,000 Hive MLS
• 2025-07-16 Price Changed $215,000 Hive MLS
• 2025-06-28 Price Changed $220,000 Hive MLS
• 2025-05-28 Listed $225,000 Hive MLS
• 2025-05-17 Listing Removed — Hive MLS
• 2025-03-04 Listed $200,000 Hive MLS
• 2024-04-09 Sold (MLS) $178,500 Hive MLS
• 2024-02-04 Pending — Hive MLS
• 2024-01-25 Relisted — Hive MLS
• 2024-01-21 Listed $185,000 Hive MLS
• 2023-12-19 Sold (Public Records) $85,000 Public Records
• 1999-10-01 Sold (Public Records) $8,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $349 · +47.2% YoY. Source: county tax records.