457 Old Charleston Dr SE · Bolivia, NC 28422

$265,000

3 bd · 2.0 ba · 1,660 sqft · SingleFamily public records · 24 Days on market

Built 2018 8,276 sqft lot Est $292k · 9% under $42/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 +13.8/30.0
• ARV discount +11.7/15.0
• DSCR +4.2/10.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1513-B single story garage home! The home includes a spacious great room that opens up to the dinette and kitchen. The owner's suite features a private bathroom and walk in closet! Additionally, there is a flex room, 2 more bedrooms, and another full bath! Completion date is February 2019. Haggle free pricing. No negotiation necessary. Lowest price guaranteed.

Key facts

• Flexible bonus space
• Covered front porch
• Open concept

Tags

• OPEN CONCEPT
• PRIMARY SUITE
• EN SUITE BATH
• FLEXIBLE BONUS SPACE
• COVERED FRONT PORCH
• PARTIALLY FENCED BACKYARD

Property features AI

Finance

• Other: Zoning: Co-R-7500
• HOA & community: Homeowners association with annual fee of $500 (approximately $41.67/month); Association management (no other listed amenities)

Exterior

• Parking: Attached garage (front-facing); 1 total garage space; Concrete driveway / off-street parking
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single family residence; One level / one story; Entry level: 1; Vinyl siding and frame construction
• Construction: Built with vinyl siding and frame; Slab foundation
• Exterior features: Covered front porch; Partial wood fencing in back yard; Shingle roof; Paved road access; Street lights in the community; Has a view

Interior

• Kitchen: Electric oven; Electric range; Dishwasher; Refrigerator; Ice maker; Pantry
• Bedrooms: Master downstairs
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Electric heating; Forced air; Central air conditioning
• Interior features: Master suite on the main floor; Walk-in closet(s); Vaulted and high ceilings; Entrance foyer; Pantry; See remarks
• Laundry & utility: Washer hookup; Washer and dryer included; Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $23 ($279/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (21.0% below list).
• Recommended offer: $209k (21.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.5% in Bolivia — 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 59/100 on livability (#549 in NC) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, cost of living B; Watch: amenities F, commute F, employment 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); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 students, 100% FRL) — zoned schools average 99% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 575 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 36% of the median local income ($69k/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 $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 24 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $140k; list at $265k implies a 89% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,235 (21.0% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.79% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $292,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2161 Brookstone Dr SE	0.05mi	3/2.5	1,717 (+3%)	11mo	$296,400	$173	81
453 Old Charleston Dr SE	0.01mi	3/2.0	1,849 (+11%)	6mo	$285,000	$154	75
2272 Brookstone Dr SE	0.28mi	3/2.0	1,831 (+10%)	3mo	$365,000	$199	68
2480 Caraway Dr SE	0.59mi	3/2.0	1,674 (+1%)	6mo	$309,900	$185	66
2606 Provence Dr SE	0.53mi	3/2.0	1,727 (+4%)	4mo	$290,000	$168	65
2216 Grande Palms Trl SE	0.30mi	4/2.0 (+1)	1,774 (+7%)	6mo	$312,500	$176	65
2235 E Brookstone Dr SE	0.20mi	4/2.5 (+1)	1,855 (+12%)	4mo	$315,000	$170	61
2577 Provence Dr SE	0.45mi	3/2.0	1,522 (-8%)	9mo	$314,800	$207	58
2249 Brookstone Dr SE	0.23mi	3/2.0	1,876 (+13%)	14mo	$319,000	$170	56
2564 Provence Dr SE	0.49mi	3/2.0	1,511 (-9%)	10mo	$316,000	$209	54
2492 Provence Dr SE	0.60mi	4/2.0 (+1)	1,771 (+7%)	13mo	$293,000	$165	45
2417 Sunset Harbor Rd SE	0.55mi	4/2.5 (+1)	1,878 (+13%)	5mo	$389,500	$207	42

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-41,554
• Equity at exit: $39,512

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-34,655
• Equity at exit: $22,912

Cash invested: $74,200 (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 28422

• Home prices YoY: -23.8%
• Active inventory: 575
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,092 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$88 /mo · $1,052/yr
• Insurance: −$110
• HOA: −$42
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $23

Break-even live

Break-even rent $2,063

Max offer price $265,000

Occupancy floor 94%

Sensitivity live

Price	-10% $173	-5% $98	+0% $23	+5% $-52	+10% $-127
Rent	-10% $-142	-5% $-59	+0% $23	+5% $106	+10% $189
Rate	-1.0pp $157	-0.5pp $91	base $23	+0.5pp $-45	+1.0pp $-115

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4024 Cypress Forest Way Bolivia, NC	3.0	2.0	1256	$1,700	$1.35	25d	1	0.05mi
2157 Grande Palms Trl SE Bolivia, NC	3.0	2.0	1256	$1,850	$1.47	25d	1	0.16mi
2537 Provence Dr SE Bolivia, NC	4.0	2.0	1607	$1,895	$1.18	25d	1	0.46mi
2617 Provence Dr SE Bolivia, NC	4.0	2.0	1776	$1,920	$1.08	25d	1	0.56mi
756 Pantego Blvd SE Bolivia, NC	3.0	2.0	1506	$2,100	$1.39	25d	1	0.64mi
2502 Kenton Ct SE Bolivia, NC	4.0	2.0	1601	$1,895	$1.18	25d	1	0.71mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 21 events

1. 2026-06-22
   days on market $265,000 Active 24 DOM
2. 2026-06-18
   days on market $265,000 Active 21 DOM
3. 2026-06-17
   days on market $265,000 Active 20 DOM
4. 2026-06-16
   days on market $265,000 Active 19 DOM
5. 2026-06-15
   days on market $265,000 Active 18 DOM
6. 2026-06-14
   days on market $265,000 Active 16 DOM
7. 2026-06-13
   days on market $265,000 Active 15 DOM
8. 2026-06-10
   days on market $265,000 Active 13 DOM
9. 2026-06-09
   days on market $265,000 Active 12 DOM
10. 2026-06-08
    days on market $265,000 Active 11 DOM
11. 2026-06-07
    days on market $265,000 Active 10 DOM
12. 2026-06-05
    days on market $265,000 Active 7 DOM
13. 2026-06-03
    days on market $265,000 Active 6 DOM
14. 2026-06-02
    days on market $265,000 Active 5 DOM
15. 2026-06-01
    days on market $265,000 Active 4 DOM
16. 2026-05-31
    days on market $265,000 Active 3 DOM
17. 2026-05-30
    days on market $265,000 Active 2 DOM
18. 2026-05-28
    listed $265,000 Active
19. 2023-07-18
    historical
20. 2019-02-26
    soldstatus $140,490 362-char remark

    Show marketing remark (362 chars)

    1513-B single story garage home! The home includes a spacious great room that opens up to the dinette and kitchen. The owner's suite features a private bathroom and walk in closet! Additionally, there is a flex room, 2 more bedrooms, and another full bath! Completion date is February 2019. Haggle free pricing. No negotiation necessary. Lowest price guaranteed.

21. 2018-03-27
    listed $140,490 362-char remark

    Show marketing remark (362 chars)

    1513-B single story garage home! The home includes a spacious great room that opens up to the dinette and kitchen. The owner's suite features a private bathroom and walk in closet! Additionally, there is a flex room, 2 more bedrooms, and another full bath! Completion date is February 2019. Haggle free pricing. No negotiation necessary. Lowest price guaranteed.

ⓘ 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: $1,052 · $88/mo
• Projected year-2 tax: $2,173 · $181/mo
• Expected delta: +$1,121/yr (+$93/mo · 106.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 20 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: $25,108
• − Mortgage interest: −$14,844
• − Property taxes: −$1,052
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,009
• − Management: −$2,009
• − HOA: −$504
• − Depreciation: −$7,709
• Taxable loss: −$4,343
• Est. tax savings @ 24.0%: +$1,042
• After-tax cash flow: $1,321/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 — Bolivia

• Score: 59/100
• State rank: #549
• US rank: #20206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 10,059
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 10,059
• Household income: $69,412
• Rent vs Own: 13.7% rent · 86.3% own
• Severe rent burden: 243.0

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 (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 8% Hispanic / Latino 3% Native American 1%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -44.19%
• Current HPI: 141.1956
• 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

+88.6% since first listed

4 events — show timeline

• 2026-05-28 Listed $265,000 Hive MLS
• 2023-07-18 Rental Removed — BUILDIUM
• 2019-02-26 Sold (MLS) $140,490 Hive MLS
• 2018-03-27 Listed $140,490 Hive MLS

Property tax history

+63.9%/yr

Latest (2025): $1,052 · +0.0% YoY. Source: county tax records.