700 Discovery Cv · Newport, NC 28570

$260,000

3 bd · 2.0 ba · 1,266 sqft · Condo · 71 Days on market

Built 2024 Good condition $305/mo HOA · 2% 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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to The Villas; your oasis of modern living in Newport! Nestled within a community of townhomes, this gem awaits on the right-hand side offering 3 bedrooms and 2 bathrooms. Designed for effortless living these townhomes give you the pleasure of settling into a brand-new construction with a low-maintenance yard. Upon entry, be greeted by an expansive open floor plan adorned with luxurious LVP flooring, complemented by vaulted ceilings that create an air of spaciousness and sophistication. Admire the natural light streaming through picture-framed windows, inviting the outdoors in and enhancing the ambiance of every room. Prepare to unleash your culinary skills in the chef's kitchen with granite countertops and backsplash, stainless steel GE appliances, and a pantry. The dining area is right off the kitchen creating an inviting space for culinary delights and shared meals. Retreat to the primary bedroom, where comfort and convenience converge effortlessly. Discover a two-door closet providing ample storage, while an ensuite bathroom awaits with raised height vanity cabinets, granite countertops, and a generously sized walk-in shower, offering a sanctuary for relaxation. Two additional bedrooms await, sharing a full-sized bath adorned with the same premium features found in the primary suite. Don't miss the opportunity to experience the quality and craftsmanship of JC Jackson Homes. Schedule an appointment today to witness firsthand the attention to detail and exceptional design that could make your dream of owning a new home a reality. Call now and let us guide you to the home of your dreams in the peaceful embrace of The Villas!

Key facts

• Newer construction
• Granite countertops
• Durable lvp flooring

Tags

• NEWER CONSTRUCTION
• SOARING VAULTED CEILINGS
• DURABLE LVP FLOORING
• OVERSIZED WINDOWS
• GRANITE COUNTERTOPS
• STAINLESS GE APPLIANCES

Property features AI

Finance

• Other: Subdivision: The Villas at Newport; Zoning: PUD; Directions: From Morehead City, take US-70 E to Nine Foot Rd. Turn left, then right into the Food Lion shopping center (Old Fashioned Way). Continue past Dunkin' Donuts, turn left onto Villa Cove, then left onto Cove Drive. 700 Discovery Cove is straight ahead at the intersection; right-side unit.
• HOA & community: Homeowners association with annual fee of $3,660 (about $305/mo); HOA provides ground and structure maintenance, management, and handles taxes

Exterior

• Parking: Concrete parking
• Utilities: Sewer connected; Water connected
• Home design: Condominium; One-level entry; One story
• Construction: Vinyl siding with frame construction; Shingle roof; Slab foundation; Built as residential condominium
• Exterior features: Covered front porch; Covered patio; Vinyl backyard fencing; Street lights in the community; Paved road access; City street and state road frontage

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump cooling; Heat pump and electric heating
• Interior features: Accessible full bathroom; Has a view; Seven total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $8k ($94k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $260k).
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Cap rate 42.5% vs local median 31.4% in Newport — 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 (#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 $12,590/mo this rent would consume 215% 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 $73k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $244,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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. 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 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: 4.84% ✓
• Cap rate: 42.50%
• Cash-on-cash: 129.31%
• DSCR: 6.75
• GRM: 1.7

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: —
• Equity multiple: 7.29×
• Total profit: $457,876
• Equity at exit: $38,767

10-year hold

• IRR: —
• Equity multiple: 15.34×
• Total profit: $1,043,597
• Equity at exit: $22,480

Cash invested: $72,800 (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: 1.7×

Monthly cashflow live

• Estimated rent: $12,590 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$305
• Vacancy / Maint / Mgmt: −$2,644
• Net cashflow: $7,845

Break-even live

Break-even rent $2,661

Max offer price $260,000

Occupancy floor 33%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $305 · $3,660/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-19
   days on market $260,000 Active 71 DOM
2. 2026-06-18
   days on market $260,000 Active 70 DOM
3. 2026-06-17
   days on market $260,000 Active 69 DOM
4. 2026-06-16
   days on market $260,000 Active 68 DOM
5. 2026-06-15
   days on market $260,000 Active 67 DOM
6. 2026-06-14
   days on market $260,000 Active 65 DOM
7. 2026-06-12
   days on market $260,000 Active 64 DOM
8. 2026-06-09
   days on market $260,000 Active 61 DOM
9. 2026-06-08
   days on market $260,000 Active 60 DOM
10. 2026-06-07
    days on market $260,000 Active 59 DOM
11. 2026-06-05
    days on market $260,000 Active 56 DOM
12. 2026-06-03
    days on market $260,000 Active 55 DOM
13. 2026-06-02
    days on market $260,000 Active 54 DOM
14. 2026-06-01
    days on market $260,000 Active 53 DOM
15. 2026-05-31
    days on market $260,000 Active 52 DOM
16. 2026-05-30
    days on market $260,000 Active 51 DOM
17. 2026-04-21
    price $260,000
18. 2026-04-09
    listed $265,000 Active
19. 2025-01-13
    historical 1661-char remark

    Show marketing remark (1661 chars)

    Welcome to The Villas; your oasis of modern living in Newport! Nestled within a community of townhomes, this gem awaits on the right-hand side offering 3 bedrooms and 2 bathrooms. Designed for effortless living these townhomes give you the pleasure of settling into a brand-new construction with a low-maintenance yard. Upon entry, be greeted by an expansive open floor plan adorned with luxurious LVP flooring, complemented by vaulted ceilings that create an air of spaciousness and sophistication. Admire the natural light streaming through picture-framed windows, inviting the outdoors in and enhancing the ambiance of every room. Prepare to unleash your culinary skills in the chef's kitchen with granite countertops and backsplash, stainless steel GE appliances, and a pantry. The dining area is right off the kitchen creating an inviting space for culinary delights and shared meals. Retreat to the primary bedroom, where comfort and convenience converge effortlessly. Discover a two-door closet providing ample storage, while an ensuite bathroom awaits with raised height vanity cabinets, granite countertops, and a generously sized walk-in shower, offering a sanctuary for relaxation. Two additional bedrooms await, sharing a full-sized bath adorned with the same premium features found in the primary suite. Don't miss the opportunity to experience the quality and craftsmanship of JC Jackson Homes. Schedule an appointment today to witness firsthand the attention to detail and exceptional design that could make your dream of owning a new home a reality. Call now and let us guide you to the home of your dreams in the peaceful embrace of The Villas!

20. 2025-01-08
    soldstatus $250,000 Closed 1661-char remark

    Show marketing remark (1661 chars)

    Welcome to The Villas; your oasis of modern living in Newport! Nestled within a community of townhomes, this gem awaits on the right-hand side offering 3 bedrooms and 2 bathrooms. Designed for effortless living these townhomes give you the pleasure of settling into a brand-new construction with a low-maintenance yard. Upon entry, be greeted by an expansive open floor plan adorned with luxurious LVP flooring, complemented by vaulted ceilings that create an air of spaciousness and sophistication. Admire the natural light streaming through picture-framed windows, inviting the outdoors in and enhancing the ambiance of every room. Prepare to unleash your culinary skills in the chef's kitchen with granite countertops and backsplash, stainless steel GE appliances, and a pantry. The dining area is right off the kitchen creating an inviting space for culinary delights and shared meals. Retreat to the primary bedroom, where comfort and convenience converge effortlessly. Discover a two-door closet providing ample storage, while an ensuite bathroom awaits with raised height vanity cabinets, granite countertops, and a generously sized walk-in shower, offering a sanctuary for relaxation. Two additional bedrooms await, sharing a full-sized bath adorned with the same premium features found in the primary suite. Don't miss the opportunity to experience the quality and craftsmanship of JC Jackson Homes. Schedule an appointment today to witness firsthand the attention to detail and exceptional design that could make your dream of owning a new home a reality. Call now and let us guide you to the home of your dreams in the peaceful embrace of The Villas!

21. 2024-10-21
    status Pending 1661-char remark

    Show marketing remark (1661 chars)

    Welcome to The Villas; your oasis of modern living in Newport! Nestled within a community of townhomes, this gem awaits on the right-hand side offering 3 bedrooms and 2 bathrooms. Designed for effortless living these townhomes give you the pleasure of settling into a brand-new construction with a low-maintenance yard. Upon entry, be greeted by an expansive open floor plan adorned with luxurious LVP flooring, complemented by vaulted ceilings that create an air of spaciousness and sophistication. Admire the natural light streaming through picture-framed windows, inviting the outdoors in and enhancing the ambiance of every room. Prepare to unleash your culinary skills in the chef's kitchen with granite countertops and backsplash, stainless steel GE appliances, and a pantry. The dining area is right off the kitchen creating an inviting space for culinary delights and shared meals. Retreat to the primary bedroom, where comfort and convenience converge effortlessly. Discover a two-door closet providing ample storage, while an ensuite bathroom awaits with raised height vanity cabinets, granite countertops, and a generously sized walk-in shower, offering a sanctuary for relaxation. Two additional bedrooms await, sharing a full-sized bath adorned with the same premium features found in the primary suite. Don't miss the opportunity to experience the quality and craftsmanship of JC Jackson Homes. Schedule an appointment today to witness firsthand the attention to detail and exceptional design that could make your dream of owning a new home a reality. Call now and let us guide you to the home of your dreams in the peaceful embrace of The Villas!

22. 2024-10-07
    listed $250,000 Active 1661-char remark

    Show marketing remark (1661 chars)

    Welcome to The Villas; your oasis of modern living in Newport! Nestled within a community of townhomes, this gem awaits on the right-hand side offering 3 bedrooms and 2 bathrooms. Designed for effortless living these townhomes give you the pleasure of settling into a brand-new construction with a low-maintenance yard. Upon entry, be greeted by an expansive open floor plan adorned with luxurious LVP flooring, complemented by vaulted ceilings that create an air of spaciousness and sophistication. Admire the natural light streaming through picture-framed windows, inviting the outdoors in and enhancing the ambiance of every room. Prepare to unleash your culinary skills in the chef's kitchen with granite countertops and backsplash, stainless steel GE appliances, and a pantry. The dining area is right off the kitchen creating an inviting space for culinary delights and shared meals. Retreat to the primary bedroom, where comfort and convenience converge effortlessly. Discover a two-door closet providing ample storage, while an ensuite bathroom awaits with raised height vanity cabinets, granite countertops, and a generously sized walk-in shower, offering a sanctuary for relaxation. Two additional bedrooms await, sharing a full-sized bath adorned with the same premium features found in the primary suite. Don't miss the opportunity to experience the quality and craftsmanship of JC Jackson Homes. Schedule an appointment today to witness firsthand the attention to detail and exceptional design that could make your dream of owning a new home a reality. Call now and let us guide you to the home of your dreams in the peaceful embrace of The Villas!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $151,085
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$12,087
• − Management: −$12,087
• − HOA: −$3,660
• − Depreciation: −$7,564
• Taxable income: $95,924
• Est. tax owed @ 24.0%: −$23,022
• After-tax cash flow: $71,114/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

Good 80/100 None rehab

This well-maintained, move-in-ready home in a desirable community offers a good investment opportunity with minimal updates needed.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Landscaping improvements — Well-maintained landscaping can increase curb appeal and property value
• Both Add a small outdoor seating area — This can increase the property's appeal for both buyers and renters
• Both Install smart home features — Smart home features can increase the property's value and attract tech-savvy buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Well-maintained landscaping can increase curb appeal and property value ↑
• Both Add a small outdoor seating area — This can increase the property's appeal for both buyers and renters ↑
• Both Install smart home features — Smart home features can increase the property's value and attract tech-savvy buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Newport, NC
• 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

+4.0% since first listed

6 events — show timeline

• 2026-04-21 Price Changed $260,000 Hive MLS
• 2026-04-09 Listed $265,000 Hive MLS
• 2025-01-13 Listing Removed — Hive MLS
• 2025-01-08 Sold (MLS) $250,000 Hive MLS
• 2024-10-21 Pending — Hive MLS
• 2024-10-07 Listed $250,000 Hive MLS