PEARSON TH Plan · Leland, NC 28451

$234,990

3 bd · 2.5 ba · 1,418 sqft · Townhouse · 733 Days on market

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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 +13.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Schools +3.9/10.0
• 1% rule +3.8/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the Pearson a two-story townhome with 3 bedrooms, 2.5 Baths, 1,418 sq ft and 1 car garage in a prime location!. Located in Leland, North Carolina in our Townes at SeaBrooke community. The Pearson is a two-story floor plan with a single-car garage. The kitchen overlooks the dining and living spaces, ideal for entertaining guests or enjoying family time while preparing meals with new stainless-steel appliances and Granite countertops. The second floor features the primary bedroom with a walk-in closet and double vanities. It also includes two additional bedrooms, a shared bathroom, and a laundry room for convenience. If you're looking for a functional and stylish two-story home, th

Key facts

• Spacious kitchen
• Double vanities
• Walk in closet

Tags

• OPEN CONCEPT FIRST FLOOR
• SPACIOUS KITCHEN
• LARGE PRIMARY SUITE
• DOUBLE VANITIES
• WALK IN CLOSET
• WALK IN SHOWER

Property features AI

Finance

• Financial info: List price $234,990

Exterior

• Parking: 1 garage space (1 parking space total)
• Home design: Single-family plan home; Active listing

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan home (PEARSON TH); Living area approximately 1418

🏗️ New construction. The $234,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $239,642.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $235k.

Deal economics

• At list price, monthly cash flow is $17 ($202/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 $212k (9.9% below list).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.2% in Leland — 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 68/100 on livability (#177 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: health & safety D, amenities F, commute 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: Town Creek Elementary (math 50% / reading 53%, grade C-, #392 of 1,410 statewide, top 28%, 654 students, 100% FRL); Leland Middle (math 26% / reading 36%, grade F, #326 of 475 statewide, top 69%, 780 students, 100% FRL); North Brunswick High (math 57% / reading 49%, grade C-, #281 of 535 statewide, top 53%, 1,450 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 rising (+1.2%/yr); 1224 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 31% of the median local income ($81k/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 $7k 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 733 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Recommended offer $206,791 (12.0% below list)

Questions for the listing agent

1. It's been on market 733 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 0.88% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $239,642
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5784 Harebell Rd Unit 211	0.09mi	3/2.5	1,418 (0%)	2mo	$239,999	$169	94
6362 Cowslip Way Unit 183	0.06mi	3/2.5	1,418 (0%)	3mo	$235,999	$166	94
5815 Harebell Rd Unit 145	0.13mi	3/2.5	1,418 (0%)	1mo	$234,990	$166	93
5800 Harebell Rd #208	0.10mi	3/2.5	1,418 (0%)	2mo	$235,349	$166	93
6315 Cowslip Way #195	0.05mi	3/2.5	1,418 (0%)	5mo	$249,890	$176	93
5796 Harebell Rd Unit 209	0.10mi	3/2.5	1,418 (0%)	3mo	$229,999	$162	93
5795 Harebell Rd Unit 149	0.11mi	3/2.5	1,418 (0%)	2mo	$229,999	$162	93
6338 Cowslip Way Unit 186	0.04mi	3/2.5	1,418 (0%)	6mo	$259,990	$183	93
6342 Cowslip Way #185	0.05mi	3/2.5	1,418 (0%)	6mo	$259,990	$183	93
7098 Dunford Rd Unit 130	0.13mi	3/2.5	1,418 (0%)	2mo	$247,990	$175	92
5799 Harebell Rd Lot 148	0.12mi	3/2.5	1,418 (0%)	3mo	$235,990	$166	92
6311 Cowslip Way #194	0.05mi	3/2.5	1,418 (0%)	6mo	$249,990	$176	92

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.38×
• Total profit: $-41,412
• Equity at exit: $35,731

10-year hold

• IRR: -13.7%
• Equity multiple: 0.27×
• Total profit: $-49,147
• Equity at exit: $20,720

Cash invested: $67,100 (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 28451

• Rents YoY: 1.2%
• Active inventory: 1224
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,118 high
• Mortgage (P&I): −$1,257
• Tax est. 1.5%: −$300 /mo · $3,595/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $17

Break-even live

Break-even rent $2,096

Max offer price $239,642

Occupancy floor 94%

Sensitivity live

Price	-10% $182	-5% $100	+0% $17	+5% $-66	+10% $-149
Rent	-10% $-150	-5% $-67	+0% $17	+5% $101	+10% $184
Rate	-1.0pp $138	-0.5pp $78	base $17	+0.5pp $-45	+1.0pp $-108

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: $59,910
• Closing costs: $7,189
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4162 High Glen Dr Unit 4162 , NC	3.0	2.5	1418	$2,000	$1.41	25d	1	0.05mi
5784 Harebell Rd Leland, NC	3.0	2.5	1418	$2,095	$1.48	25d	1	0.06mi
7111 Rock Fish Ln Leland, NC	1.0–3.0	1.0–2.0	1093	$1,875	$1.72	15d	19	0.64mi
6146 Liberty Hall Dr Leland, NC	1.0–2.0	1.0–2.5	1184	$4,690	$3.96	15d	31	0.65mi
8708 Red Leaf Run Belville, NC	1.0–3.0	1.0–2.0	1063	$2,127	$2.00	15d	10	0.82mi
3100 Ascend Loop Belville, NC	1.0–3.0	1.0–2.0	1077	$2,382	$2.21	15d	79	0.84mi
4118 Hobblebush Dr Leland, NC	3.0–4.0	2.0–2.5	1580	$1,995	$1.26	15d	14	0.89mi
9125 Sunrise Creek Dr Leland, NC	4.0	2.5	1772	$2,440	$1.38	25d	1	0.93mi
3828 Starry Sky Rd Leland, NC	4.0	2.5	1772	$2,540	$1.43	15d	1	0.94mi
3907 Starry Sky Rd Leland, NC	3.0	2.0	1665	$2,294	$1.38	25d	1	0.97mi
3915 Starry Sky Rd Leland, NC	3.0	2.0	1708	$2,440	$1.43	23d	1	0.98mi
9102 Pine Notch Rd Leland, NC	3.0–5.0	2.0–3.0	2064	$2,155	$1.04	15d	5	1.31mi
824 Rolling Pines Loop Rd NE Leland, NC	3.0	2.0	1240	$2,000	$1.61	15d	1	1.42mi

Listing history 16 events

1. 2026-06-22
   days on market $234,990 Active 733 DOM
2. 2026-06-18
   days on market $234,990 Active 730 DOM
3. 2026-06-17
   days on market $234,990 Active 729 DOM
4. 2026-06-16
   days on market $234,990 Active 728 DOM
5. 2026-06-15
   days on market $234,990 Active 727 DOM
6. 2026-06-14
   days on market $234,990 Active 725 DOM
7. 2026-06-13
   days on market $234,990 Active 724 DOM
8. 2026-06-10
   days on market $234,990 Active 722 DOM
9. 2026-06-09
   days on market $234,990 Active 721 DOM
10. 2026-06-08
    days on market $234,990 Active 720 DOM
11. 2026-06-07
    days on market $234,990 Active 719 DOM
12. 2026-06-05
    days on market $234,990 Active 716 DOM
13. 2026-06-02
    days on market $234,990 Active 714 DOM
14. 2026-06-01
    days on market $234,990 Active 713 DOM
15. 2026-05-31
    days on market $234,990 Active 712 DOM
16. 2026-05-30
    days on market $234,990 Active 711 DOM

ⓘ 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: $25,412
• − Mortgage interest: −$13,424
• − Property taxes: −$3,595
• − Insurance: −$1,198
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$6,971
• Taxable loss: −$3,842
• Est. tax savings @ 24.0%: +$922
• After-tax cash flow: $1,124/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 — Leland

• Score: 68/100
• State rank: #177
• US rank: #9158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 46,933
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 46,933
• Household income: $81,481
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 1049.0

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 (71%)
• Race & ethnicity: White 71% Black 12% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 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: ▼ -99.99%
• Current HPI: 148.6217
• Rent YoY: ▲ 1.24%
• 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