123 Hardwick Ln · Emerald Isle, NC 28570

$888,000

4 bd · 4.0 ba · 2,672 sqft · Other public records · 45 Days on market

Built 2017 0.28 ac lot $146/mo HOA · 1% of rent

---

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

Two suites on the main floor is the first amazing feature to note of this incredible house on a peaceful cul-de-sac in the sought-after Cannonsgate community. This 4 bed, 4 bath home has an open concept that is elegant and inviting and filled with upgrades throughout. Upstairs, there are two additional bedrooms, a loft, and separate flex space that makes for a great office, reading room, or art studio. Extend your living space to the outdoors with the large front porch, or BBQ on the back deck and enjoy watching all the nature that shares the trees behind the house. When you are not relaxing at home, enjoy the gorgeous neighborhood clubhouse and pool, get in a game of tennis or pickleball, shoot some hoops, enjoy the playground and pier, and don't forget to launch your boat down the private boat ramp and marina to enjoy all that Bogue Sound has to offer. Sellers have a VA assumable loan, call listing agent for details.

Key facts

• 0.28 acre lot
• Garage
• Community pool

Property features AI

Finance

• HOA & community: Homeowners association with annual fee; Community pool; Association amenities: basketball court, clubhouse, gated entry, playground, RV/boat storage, tennis courts, sport court

Exterior

• Parking: Attached garage (garage faces front) — 1 garage space (1 total parking space)
• Security: Smoke detector(s)
• Utilities: Public water; Sewer connected; Natural gas connected; Generator for electric
• Home design: Single-family residence; Two levels (2-story); Entry level: 1
• Construction: Fiber cement and frame construction; Metal and shingle roof; Slab foundation; Built with a generator
• Exterior features: Boat slip; Covered patio/deck; Front porch; Cul-de-sac lot; Has view

Interior

• Kitchen: Gas oven; Gas cooktop; Built-in gas oven; Dishwasher; Microwave; Refrigerator; Kitchen island; Pantry
• Bedrooms: Primary bedroom located on the first floor
• Flooring: Tile; Hardwood
• Bathrooms: 3 full bathrooms; 1 half bathroom; Accessible full bathroom
• Heating & cooling: Central air conditioning; Electric heating with heat pump
• Interior features: Primary suite on main level; Walk-in closet(s); Tray ceilings; Entrance foyer; Kitchen island; Ceiling fan(s); Pantry; Shutters and window coverings; Gas-log fireplace
• Laundry & utility: Laundry room with washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath other listed at $888k.

Deal economics

• At list price, monthly cash flow is $6k ($77k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $888k).
• Recommended offer: $861k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 0.1% in Emerald Isle — 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 63/100 on livability (#401 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A, crime B; Watch: amenities F, commute F, cost of living 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: Bogue Sound Elementary (math 63% / reading 63%, grade B, #168 of 1,410 statewide, top 12%, 467 students, 99% FRL); Broad Creek Middle (math 63% / reading 68%, grade A-, #28 of 475 statewide, top 6%, 710 students, 100% FRL); Croatan High (math 82% / reading 78%, grade A, #73 of 535 statewide, top 13%, 974 students, 26% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 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 $14,890/mo this rent would consume 254% 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 $6k of loan paydown is wiped out by about $27k 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 $249k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($861k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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.
• Current owner paid $759k; 17% 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $861,360 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.68% ✓
• Cap rate: 14.97%
• Cash-on-cash: 30.98%
• DSCR: 2.38
• GRM: 5.0

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: 25.7%
• Equity multiple: 2.06×
• Total profit: $264,645
• Equity at exit: $132,404

10-year hold

• IRR: 33.4%
• Equity multiple: 4.04×
• Total profit: $755,780
• Equity at exit: $76,778

Cash invested: $248,640 (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: 5.0×

Monthly cashflow live

• Estimated rent: $14,890 medium
• Mortgage (P&I): −$4,657
• Tax from tax record: −$172 /mo · $2,064/yr
• Insurance: −$370
• HOA: −$146
• Vacancy / Maint / Mgmt: −$3,127
• Net cashflow: $6,419

Break-even live

Break-even rent $6,766

Max offer price $888,000

Occupancy floor 52%

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: $222,000
• Closing costs: $26,640
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $146 · $1,752/yr
• Likely covers: pool

Listing history 35 events

1. 2026-06-19
   days on market $888,000 Active 45 DOM
2. 2026-06-18
   days on market $888,000 Active 44 DOM
3. 2026-06-17
   days on market $888,000 Active 43 DOM
4. 2026-06-16
   days on market $888,000 Active 42 DOM
5. 2026-06-15
   days on market $888,000 Active 41 DOM
6. 2026-06-14
   days on market $888,000 Active 39 DOM
7. 2026-06-12
   days on market $888,000 Active 38 DOM
8. 2026-06-09
   days on market $888,000 Active 35 DOM
9. 2026-06-08
   days on market $888,000 Active 34 DOM
10. 2026-06-07
    days on market $888,000 Active 33 DOM
11. 2026-06-05
    days on market $888,000 Active 30 DOM
12. 2026-06-03
    days on market $888,000 Active 29 DOM
13. 2026-06-02
    days on market $888,000 Active 28 DOM
14. 2026-06-01
    days on market $888,000 Active 27 DOM
15. 2026-05-31
    days on market $888,000 Active 26 DOM
16. 2026-05-30
    days on market $888,000 Active 25 DOM
17. 2026-05-05
    listed $888,000 Active
18. 2024-06-17
    soldstatus $759,000 Closed 932-char remark

    Show marketing remark (932 chars)

    Two suites on the main floor is the first amazing feature to note of this incredible house on a peaceful cul-de-sac in the sought-after Cannonsgate community. This 4 bed, 4 bath home has an open concept that is elegant and inviting and filled with upgrades throughout. Upstairs, there are two additional bedrooms, a loft, and separate flex space that makes for a great office, reading room, or art studio. Extend your living space to the outdoors with the large front porch, or BBQ on the back deck and enjoy watching all the nature that shares the trees behind the house. When you are not relaxing at home, enjoy the gorgeous neighborhood clubhouse and pool, get in a game of tennis or pickleball, shoot some hoops, enjoy the playground and pier, and don't forget to launch your boat down the private boat ramp and marina to enjoy all that Bogue Sound has to offer. Sellers have a VA assumable loan, call listing agent for details.

19. 2024-06-17
    soldstatus $759,000

    Show marketing remark (932 chars)

    Two suites on the main floor is the first amazing feature to note of this incredible house on a peaceful cul-de-sac in the sought-after Cannonsgate community. This 4 bed, 4 bath home has an open concept that is elegant and inviting and filled with upgrades throughout. Upstairs, there are two additional bedrooms, a loft, and separate flex space that makes for a great office, reading room, or art studio. Extend your living space to the outdoors with the large front porch, or BBQ on the back deck and enjoy watching all the nature that shares the trees behind the house. When you are not relaxing at home, enjoy the gorgeous neighborhood clubhouse and pool, get in a game of tennis or pickleball, shoot some hoops, enjoy the playground and pier, and don't forget to launch your boat down the private boat ramp and marina to enjoy all that Bogue Sound has to offer. Sellers have a VA assumable loan, call listing agent for details.

20. 2024-03-31
    status Pending 932-char remark

    Show marketing remark (932 chars)

    Two suites on the main floor is the first amazing feature to note of this incredible house on a peaceful cul-de-sac in the sought-after Cannonsgate community. This 4 bed, 4 bath home has an open concept that is elegant and inviting and filled with upgrades throughout. Upstairs, there are two additional bedrooms, a loft, and separate flex space that makes for a great office, reading room, or art studio. Extend your living space to the outdoors with the large front porch, or BBQ on the back deck and enjoy watching all the nature that shares the trees behind the house. When you are not relaxing at home, enjoy the gorgeous neighborhood clubhouse and pool, get in a game of tennis or pickleball, shoot some hoops, enjoy the playground and pier, and don't forget to launch your boat down the private boat ramp and marina to enjoy all that Bogue Sound has to offer. Sellers have a VA assumable loan, call listing agent for details.

21. 2024-03-28
    historical $759,000 932-char remark

    Show marketing remark (932 chars)

    Two suites on the main floor is the first amazing feature to note of this incredible house on a peaceful cul-de-sac in the sought-after Cannonsgate community. This 4 bed, 4 bath home has an open concept that is elegant and inviting and filled with upgrades throughout. Upstairs, there are two additional bedrooms, a loft, and separate flex space that makes for a great office, reading room, or art studio. Extend your living space to the outdoors with the large front porch, or BBQ on the back deck and enjoy watching all the nature that shares the trees behind the house. When you are not relaxing at home, enjoy the gorgeous neighborhood clubhouse and pool, get in a game of tennis or pickleball, shoot some hoops, enjoy the playground and pier, and don't forget to launch your boat down the private boat ramp and marina to enjoy all that Bogue Sound has to offer. Sellers have a VA assumable loan, call listing agent for details.

22. 2017-09-27
    soldstatus $362,100
23. 2017-09-26
    soldstatus $361,525 230-char remark

    Show marketing remark (230 chars)

    Presale of ''The Magnolia'' plan. Phenomenal open floor layout with 2 bedrooms downstairs, 2 upstairs, den & loft. PICTURE IS OF SIMILAR CONSTRUCTION. Price/Plans/Details subject to change w/ o notice. Sqft taken from plans.

24. 2017-03-29
    soldstatus $30,000
25. 2017-02-21
    listed $359,500 230-char remark

    Show marketing remark (230 chars)

    Presale of ''The Magnolia'' plan. Phenomenal open floor layout with 2 bedrooms downstairs, 2 upstairs, den & loft. PICTURE IS OF SIMILAR CONSTRUCTION. Price/Plans/Details subject to change w/ o notice. Sqft taken from plans.

26. 2016-04-26
    listed $34,900
27. 2010-08-18
    soldstatus $23,500
28. 2010-07-06
    listed $25,000
29. 2010-02-28
    historical
30. 2010-01-22
    soldstatus $168,000
31. 2009-07-21
    listed $155,000
32. 2009-04-30
    historical
33. 2007-10-17
    listed $155,000
34. 2007-01-09
    historical
35. 2006-01-09
    listed $230,500

ⓘ 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: $2,064 · $172/mo
• Projected year-2 tax: $7,282 · $607/mo
• Expected delta: +$5,217/yr (+$435/mo · 252.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $178,684
• − Mortgage interest: −$49,742
• − Property taxes: −$2,064
• − Insurance: −$4,440
• − Repairs & maintenance: −$14,295
• − Management: −$14,295
• − HOA: −$1,752
• − Depreciation: −$25,833
• Taxable income: $66,264
• Est. tax owed @ 24.0%: −$15,903
• After-tax cash flow: $61,119/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 — Emerald Isle

• Score: 63/100
• State rank: #401
• US rank: #15298

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• 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

+285.2% since first listed

19 events — show timeline

• 2026-05-05 Listed $888,000 Hive MLS
• 2024-06-17 Sold (Public Records) $759,000 Public Records
• 2024-06-17 Sold (MLS) $759,000 Hive MLS
• 2024-03-31 Pending — Hive MLS
• 2024-03-28 Coming Soon $759,000 Hive MLS
• 2017-09-27 Sold (Public Records) $362,100 Public Records
• 2017-09-26 Sold (MLS) $361,525 Hive MLS
• 2017-03-29 Sold (MLS) $30,000 Hive MLS
• 2017-02-21 Listed $359,500 Hive MLS
• 2016-04-26 Listed $34,900 Hive MLS
• 2010-08-18 Sold (MLS) $23,500 Hive MLS
• 2010-07-06 Listed $25,000 Hive MLS
• 2010-02-28 Listing Removed — Hive MLS
• 2010-01-22 Sold (Public Records) $168,000 Public Records
• 2009-07-21 Listed $155,000 Hive MLS
• 2009-04-30 Listing Removed — Hive MLS
• 2007-10-17 Listed $155,000 Hive MLS
• 2007-01-09 Listing Removed — Hive MLS
• 2006-01-09 Listed $230,500 Hive MLS

Property tax history

+51.0%/yr

Latest (2025): $2,064 · +28.0% YoY. Source: county tax records.