2118 Martin Ln SW · Holden Beach, NC 28462

$139,000

2 bd · 1.0 ba · 1,000 sqft · Manufactured · 33 Days on market

Built 1985 0.63 ac lot Est $197k · 29% under

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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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• 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

Rare opportunity to own a home on . 63 acres just five minutes from the pristine shores of Holden Beach and the Atlantic Ocean. This beautiful property is graced with stunning mature live oaks, offering natural shade, character, and a truly coastal Carolina setting. Located in an established community near the scenic Intracoastal Waterway, the property offers the perfect blend of space, privacy, and convenience to beaches, boating, and coastal living. The home is connected to septic, electric and county water. Conveying at no additional cost are multiple sheds. Whether you're looking for a coastal getaway or an investment opportunity, this property offers exceptional potential in a highly

Key facts

• Multiple sheds
• Mature live oaks
• 63 acres

Tags

• 63 ACRES
• MATURE LIVE OAKS
• INTRACOASTAL WATERWAY
• MULTIPLE SHEDS
• HIGHLY DESIRABLE LOCATION

Property features AI

Finance

• Other: Interior lot on approximately 0.63-acre wooded, irregular parcel; Road frontage includes city street, state road, and unimproved frontage; Zoning: Co-R-7500

Exterior

• Parking: Off-street parking (unpaved)
• Utilities: Public water; Water connected; Septic tank
• Home design: Manufactured home; One story; Entry level: 1
• Construction: Construction details: see remarks; Foundation details: see remarks; Roof: see remarks; Built as a manufactured home
• Exterior features: Deck; No additional exterior features listed; Has a view

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: Master downstairs
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating; Central air conditioning
• Interior features: Master bedroom on the main level; Vaulted ceilings; Eat-in kitchen; Unfurnished
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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: Supply Elementary (math 46% / reading 39%, grade F, #625 of 1,410 statewide, top 45%, 539 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; 1 comparable units currently listed for rent nearby; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 33% 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 $961 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $139k 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; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.21% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.79%
• DSCR: 1.70
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $197,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3656 Lakeview Dr SW	0.08mi	3/2.0 (+1)	990 (-1%)	6mo	$194,900	$197	80

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $10,030
• Equity at exit: $20,725

10-year hold

• IRR: 15.9%
• Equity multiple: 2.30×
• Total profit: $50,476
• Equity at exit: $12,018

Cash invested: $38,920 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,681 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$29 /mo · $350/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $512

Break-even live

Break-even rent $1,033

Max offer price $139,000

Occupancy floor 65%

Sensitivity live

Price	-10% $591	-5% $551	+0% $512	+5% $473	+10% $433
Rent	-10% $379	-5% $446	+0% $512	+5% $579	+10% $645
Rate	-1.0pp $582	-0.5pp $547	base $512	+0.5pp $476	+1.0pp $439

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2272 Dolphin Shores Dr SW Unit 404 Supply, NC	2.0	2.0	1216	$1,650	$1.36	15d	1	0.72mi

Listing history 20 events

1. 2026-06-18
   days on market $139,000 Active 33 DOM
2. 2026-06-17
   days on market $139,000 Active 32 DOM
3. 2026-06-16
   days on market $139,000 Active 31 DOM
4. 2026-06-15
   days on market $139,000 Active 30 DOM
5. 2026-06-14
   days on market $139,000 Active 28 DOM
6. 2026-06-13
   pricedays on market $139,000 Active 27 DOM
7. 2026-06-10
   days on market $149,000 Active 25 DOM
8. 2026-06-09
   days on market $149,000 Active 24 DOM
9. 2026-06-08
   days on market $149,000 Active 23 DOM
10. 2026-06-07
    days on market $149,000 Active 22 DOM
11. 2026-06-05
    days on market $149,000 Active 19 DOM
12. 2026-06-03
    days on market $149,000 Active 18 DOM
13. 2026-06-02
    days on market $149,000 Active 17 DOM
14. 2026-06-01
    days on market $149,000 Active 16 DOM
15. 2026-05-31
    days on market $149,000 Active 15 DOM
16. 2026-05-30
    days on market $149,000 Active 14 DOM
17. 2026-05-16
    historical
18. 2026-05-16
    listed $149,000 Active
19. 2026-03-05
    listed $149,000 Active
20. 2012-08-06
    soldstatus $60,000

ⓘ 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: $350 · $29/mo
• Projected year-2 tax: $1,140 · $95/mo
• Expected delta: +$789/yr (+$66/mo · 225.2%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $20,175
• − Mortgage interest: −$7,786
• − Property taxes: −$350
• − Insurance: −$695
• − Repairs & maintenance: −$1,614
• − Management: −$1,614
• − Depreciation: −$4,044
• Taxable income: $4,072
• Est. tax owed @ 24.0%: −$977
• After-tax cash flow: $5,168/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

+148.3% since first listed

4 events — show timeline

• 2026-05-16 Listed $149,000 Hive MLS
• 2026-05-16 Listing Removed — Hive MLS
• 2026-03-05 Listed $149,000 Hive MLS
• 2012-08-06 Sold (Public Records) $60,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $350 · +0.0% YoY. Source: county tax records.