2924 Burnsville St SW · Holden Beach, NC 28462

$144,900

2 bd · 1.0 ba · 770 sqft · Manufactured · 120 Days on market

Built 1987 5,663 sqft lot Est $145k · at est.

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Why this score? — see what drove the C 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 +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Imagine starting your day on the screened porch or sunroom, watching the sunrise and perhaps even hearing the waves breaking on Holden Beach. This well-maintained and totally renovated 2-bedroom, 1-bath home is located approximately 2 miles from the beach and offers both comfort and convenience. It is near the end of a private cul de sac , where you can see boats drift by on the waterway year-round. No HOA. The home features a fully fenced yard along with a privacy fence in the backyard, great for family gatherings. It also features a well-constructed sunroom built in 2024, with five well-placed windows providing a great all-around view. The sunroom leads to a screened in porch, perfect for

Key facts

• Sunroom
• Screened porch
• Fully fenced yard

Tags

• SCREENED PORCH
• SUNROOM
• FULLY FENCED YARD
• ENCLOSED FRONT PORCH
• NEW WINDOWS
• UPDATED BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.1% in Holden Beach — 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 65/100 on livability (#334 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, housing A; Watch: cost of living D, 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: Virginia Williamson Elem (math 50% / reading 49%, grade D, #417 of 1,410 statewide, top 32%, 502 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% FRL); West Brunswick High (math 50% / reading 56%, grade C-, #281 of 535 statewide, top 53%, 1,526 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: 506 active listings in the ZIP; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 31% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $145k implies a 414% gain — meaningful room to come down on a strong offer.

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 $131,859 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $144,760
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1303 Kyle St SW	0.74mi	2/1.5	765 (-1%)	11mo	$144,000	$188	54
1345 Kyle St SW	0.73mi	2/1.0	756 (-2%)	13mo	$130,000	$172	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-7,960
• Equity at exit: $21,605

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $13,119
• Equity at exit: $12,528

Cash invested: $40,572 (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 28462

• Active inventory: 506
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,576 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,174/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $243

Break-even live

Break-even rent $1,268

Max offer price $144,900

Occupancy floor 80%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $144,900 Active 120 DOM
2. 2026-06-17
   days on market $144,900 Active 119 DOM
3. 2026-06-16
   days on market $144,900 Active 118 DOM
4. 2026-06-15
   days on market $144,900 Active 117 DOM
5. 2026-06-14
   days on market $144,900 Active 115 DOM
6. 2026-06-13
   days on market $144,900 Active 114 DOM
7. 2026-06-10
   days on market $144,900 Active 112 DOM
8. 2026-06-09
   days on market $144,900 Active 111 DOM
9. 2026-06-08
   days on market $144,900 Active 110 DOM
10. 2026-06-07
    days on market $144,900 Active 109 DOM
11. 2026-06-05
    days on market $144,900 Active 106 DOM
12. 2026-06-02
    days on market $144,900 Active 104 DOM
13. 2026-06-01
    days on market $144,900 Active 103 DOM
14. 2026-05-31
    days on market $144,900 Active 102 DOM
15. 2026-05-30
    days on market $144,900 Active 101 DOM
16. 2026-04-20
    status Active
17. 2026-03-26
    price $144,900
18. 2026-02-24
    price $150,000
19. 2026-01-31
    listed $159,900 Active
20. 2025-02-15
    historical
21. 2025-02-04
    price $163,000
22. 2024-09-30
    price $168,000
23. 2024-09-04
    listed $174,000 Active
24. 2016-06-30
    historical
25. 2015-03-20
    listed $55,900
26. 2015-02-03
    historical
27. 2014-07-24
    listed $59,900
28. 2013-01-01
    historical
29. 2011-03-15
    listed $69,500
30. 2009-12-04
    historical
31. 2008-12-22
    listed $85,500
32. 2005-03-04
    soldstatus $28,200
33. 2005-03-04
    soldstatus $29,000
34. 2004-09-04
    listed $31,500

ⓘ 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 4/10 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: $18,906
• − Mortgage interest: −$8,117
• − Property taxes: −$2,174
• − Insurance: −$724
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − Depreciation: −$4,215
• Taxable income: $652
• Est. tax owed @ 24.0%: −$156
• After-tax cash flow: $2,763/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 — Holden Beach

• Score: 65/100
• State rank: #334
• US rank: #13586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 12,340
• Household income: $60,349
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 269.0

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 (87%)
• Race & ethnicity: White 87% Black 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -259.44%
• Current HPI: 144.2462
• Rent YoY: —
• 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

+360.0% since first listed

19 events — show timeline

• 2026-04-20 Relisted — Hive MLS
• 2026-03-26 Price Changed $144,900 Hive MLS
• 2026-02-24 Price Changed $150,000 Hive MLS
• 2026-01-31 Listed $159,900 Hive MLS
• 2025-02-15 Listing Removed — Hive MLS
• 2025-02-04 Price Changed $163,000 Hive MLS
• 2024-09-30 Price Changed $168,000 Hive MLS
• 2024-09-04 Listed $174,000 Hive MLS
• 2016-06-30 Listing Removed — Hive MLS
• 2015-03-20 Listed $55,900 Hive MLS
• 2015-02-03 Listing Removed — Hive MLS
• 2014-07-24 Listed $59,900 Hive MLS
• 2013-01-01 Listing Removed — Hive MLS
• 2011-03-15 Listed $69,500 Hive MLS
• 2009-12-04 Listing Removed — Hive MLS
• 2008-12-22 Listed $85,500 Hive MLS
• 2005-03-04 Sold (Public Records) $29,000 Public Records
• 2005-03-04 Sold (MLS) $28,200 Hive MLS
• 2004-09-04 Listed $31,500 Hive MLS

Property tax history

+1.2%/yr

Latest (2025): $206 · +0.0% YoY. Source: county tax records.