1021 Filmore St · Boiling Spring Lakes, NC 28461

$269,000

2 bd · 1.5 ba · 2,184 sqft · SingleFamily public records · 57 Days on market

Built 1986 0.59 ac lot Est $450k · 40% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• 1% rule +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity. Sold As Is. Tenant Gone! Easy To Show. 3-bedroom, 3 full baths home. Fenced yard, storage building with room to grow on this . 59-acre(buyer to verify) double-lot homesite. Garage can transition to workshop. Great outdoor entertaining space with, screened porch, large front porch and patio area off garage. (See floor plan). Great location to shopping and dining in Boiling Spring Lakes, Southport and Wilmington, not to mention access to public recreation areas at nearby lakes. AND. .No monthly Association Fees! This could make you a nice investment with a little more TLC. SOME WORK RECENTLY COMPLETED. BEING SOLD AS IS. SEE ALL NEW PHOTOGRAPHS.

Key facts

• Recent updates
• Fenced back yard
• Large front porch

Tags

• DOUBLE LOT
• FENCED BACK YARD
• SCREENED PORCH
• LARGE FRONT PORCH
• RECENT UPDATES
• WALK-IN SHOWER

Property features AI

Finance

• HOA & community: Community amenities include basketball court, clubhouse, fitness center, meeting room, park, party room, picnic area, playground, and tennis courts

Exterior

• Parking: 2 total parking spaces; 2-car attached garage; Garage faces front; Concrete driveway; Garage door opener; Off-street paved parking
• Security: Smoke detectors; Accessible full bathroom
• Utilities: Public water; Water connected; Septic tank sewer
• Home design: Single family residence; One story; Entry level: 1; Has a view
• Construction: Wood siding frame construction; Shingle roof; Crawl space foundation; Built with frame construction
• Exterior features: Covered patio and porch; Screened porch; Side porch; Chain link fencing in the backyard; Landscaped lot; Shed(s)

Interior

• Kitchen: Refrigerator; Range; Dishwasher; Microwave; Electric water heater
• Bedrooms: Master downstairs
• Flooring: Carpet; Vinyl; Ceramic tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning; Heat pump cooling
• Interior features: Master bedroom on the main level; Kitchen island; Ceiling fans; Built-in features; Window coverings; Unfurnished
• Laundry & utility: Washer; Dryer; Laundry located in the garage

🏷️ Possibly a rental listed for sale. The $269,000 price doesn't fit this home's estimated sale value (~$449,904) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $-374 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (24.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (39.8% below list).
• Recommended offer: $162k (39.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#542 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, 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: Bolivia Elementary (math 50% / reading 43%, grade D-, #542 of 1,410 statewide, top 39%, 496 students, 99% FRL); South Brunswick Middle (math 41% / reading 49%, grade D, #160 of 475 statewide, top 35%, 572 students, 100% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 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; 877 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 $2k of loan paydown is wiped out by about $8k 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 57 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $116k; list at $269k implies a 132% 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; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,972 (39.8% 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 57 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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?
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 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: 0.60% ✗
• Cap rate: 4.62%
• Cash-on-cash: -5.97%
• DSCR: 0.73
• GRM: 13.8

CMA / ARV

• ARV (on-the-fly): $449,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 Fifty Lakes Dr	0.15mi	3/2.5 (+1)	2,211 (+1%)	11mo	$420,000	$190	72
721 Trevino Rd	0.23mi	3/2.0 (+1)	2,243 (+3%)	7mo	$422,000	$188	72
560 Kennedy Cir	0.43mi	3/2.5 (+1)	2,137 (-2%)	1mo	$520,000	$243	67
1191 Filmore Rd	0.25mi	3/3.0 (+1)	2,026 (-7%)	7mo	$379,990	$188	60
1040 Fillmore St	0.07mi	3/3.0 (+1)	1,882 (-14%)	4mo	$326,000	$173	59
550 Kennedy Cir	0.44mi	3/2.5 (+1)	1,981 (-9%)	3mo	$490,000	$247	52
861 Trevino Rd	0.28mi	3/2.0 (+1)	1,939 (-11%)	13mo	$399,000	$206	51
1146 Twin Lakes Dr	0.60mi	3/2.0 (+1)	2,056 (-6%)	6mo	$420,000	$204	50
9 Casper Rd	0.55mi	3/3.0 (+1)	2,080 (-5%)	11mo	$541,200	$260	46
566 Palmer Dr	0.57mi	3/2.5 (+1)	1,956 (-10%)	3mo	$279,500	$143	45
943 Nicklaus Rd	0.67mi	3/2.5 (+1)	2,255 (+3%)	13mo	$490,000	$217	44
550 Barber Rd	0.60mi	3/2.5 (+1)	2,443 (+12%)	12mo	$532,000	$218	33

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: -28.8%
• Equity multiple: 0.06×
• Total profit: $-71,140
• Equity at exit: $40,109

10-year hold

• IRR: -38.8%
• Equity multiple: -0.42×
• Total profit: $-107,192
• Equity at exit: $23,258

Cash invested: $75,320 (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: 877
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $1,620 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$131 /mo · $1,575/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $-374

Break-even live

Break-even rent $2,094

Max offer price $202,857

Occupancy floor —

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $269,000 Active 57 DOM
2. 2026-06-17
   days on market $269,000 Active 56 DOM
3. 2026-06-16
   days on market $269,000 Active 55 DOM
4. 2026-06-15
   days on market $269,000 Active 54 DOM
5. 2026-06-14
   days on market $269,000 Active 52 DOM
6. 2026-06-13
   days on market $269,000 Active 51 DOM
7. 2026-06-10
   days on market $269,000 Active 49 DOM
8. 2026-06-09
   days on market $269,000 Active 48 DOM
9. 2026-06-08
   days on market $269,000 Active 47 DOM
10. 2026-06-07
    days on market $269,000 Active 46 DOM
11. 2026-06-05
    days on market $269,000 Active 43 DOM
12. 2026-06-03
    days on market $269,000 Active 42 DOM
13. 2026-06-02
    days on market $269,000 Active 41 DOM
14. 2026-06-01
    days on market $269,000 Active 40 DOM
15. 2026-05-31
    days on market $269,000 Active 39 DOM
16. 2026-05-30
    days on market $269,000 Active 38 DOM
17. 2026-05-22
    price $269,000
18. 2026-04-22
    listed $279,000 Active
19. 2017-04-19
    soldstatus $116,000 680-char remark

    Show marketing remark (680 chars)

    Great investment opportunity. Sold As Is. Tenant Gone! Easy To Show. 3-bedroom, 3 full baths home. Fenced yard, storage building with room to grow on this . 59-acre(buyer to verify) double-lot homesite. Garage can transition to workshop. Great outdoor entertaining space with, screened porch, large front porch and patio area off garage. (See floor plan). Great location to shopping and dining in Boiling Spring Lakes, Southport and Wilmington, not to mention access to public recreation areas at nearby lakes. AND. .No monthly Association Fees! This could make you a nice investment with a little more TLC. SOME WORK RECENTLY COMPLETED. BEING SOLD AS IS. SEE ALL NEW PHOTOGRAPHS.

20. 2017-04-19
    soldstatus $116,000

    Show marketing remark (680 chars)

    Great investment opportunity. Sold As Is. Tenant Gone! Easy To Show. 3-bedroom, 3 full baths home. Fenced yard, storage building with room to grow on this . 59-acre(buyer to verify) double-lot homesite. Garage can transition to workshop. Great outdoor entertaining space with, screened porch, large front porch and patio area off garage. (See floor plan). Great location to shopping and dining in Boiling Spring Lakes, Southport and Wilmington, not to mention access to public recreation areas at nearby lakes. AND. .No monthly Association Fees! This could make you a nice investment with a little more TLC. SOME WORK RECENTLY COMPLETED. BEING SOLD AS IS. SEE ALL NEW PHOTOGRAPHS.

21. 2016-07-25
    listed $119,000 680-char remark

    Show marketing remark (680 chars)

    Great investment opportunity. Sold As Is. Tenant Gone! Easy To Show. 3-bedroom, 3 full baths home. Fenced yard, storage building with room to grow on this . 59-acre(buyer to verify) double-lot homesite. Garage can transition to workshop. Great outdoor entertaining space with, screened porch, large front porch and patio area off garage. (See floor plan). Great location to shopping and dining in Boiling Spring Lakes, Southport and Wilmington, not to mention access to public recreation areas at nearby lakes. AND. .No monthly Association Fees! This could make you a nice investment with a little more TLC. SOME WORK RECENTLY COMPLETED. BEING SOLD AS IS. SEE ALL NEW PHOTOGRAPHS.

22. 2011-03-03
    historical
23. 2011-02-11
    listed $120,000

ⓘ 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: $1,575 · $131/mo
• Projected year-2 tax: $2,206 · $184/mo
• Expected delta: +$631/yr (+$53/mo · 40.1%)

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

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 ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $19,437
• − Mortgage interest: −$15,068
• − Property taxes: −$1,575
• − Insurance: −$1,345
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − Depreciation: −$7,825
• Taxable loss: −$9,487
• Est. tax savings @ 24.0%: +$2,277
• After-tax cash flow: $-2,216/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 — Boiling Spring Lakes

• Score: 59/100
• State rank: #542
• US rank: #19781

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boiling Spring Lakes, NC
• County: Brunswick County · 131,536 people
• 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

+124.2% since first listed

7 events — show timeline

• 2026-05-22 Price Changed $269,000 Hive MLS
• 2026-04-22 Listed $279,000 Hive MLS
• 2017-04-19 Sold (Public Records) $116,000 Public Records
• 2017-04-19 Sold (MLS) $116,000 Hive MLS
• 2016-07-25 Listed $119,000 Hive MLS
• 2011-03-03 Listing Removed — Hive MLS
• 2011-02-11 Listed $120,000 Hive MLS

Property tax history

+4.8%/yr

Latest (2025): $1,575 · +12.9% YoY. Source: county tax records.