KERRY Plan · Broad Creek, NC 28570

$347,490

3 bd · 2.0 ba · 1,475 sqft · SingleFamily · 548 Days on market

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Walk-in closet
• Open living space
• Walk-in shower

Tags

• OPEN LIVING SPACE
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• WALK-IN SHOWER
• SMART HOME TECHNOLOGY

Property features AI

Finance

• Financial info: List price $347,490

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Single-family home (plan); KERRY plan
• Exterior features: Property located at 210 Jones Ridge Ln, Newport NC 28570

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Active new-construction plan named KERRY; Living area approximately 1,475

🏗️ New construction. The $347,490 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $340,725.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $347k.

Deal economics

• At list price, monthly cash flow is $8k ($91k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $347k).
• Recommended offer: $306k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.0% vs local median 22.6% in Broad Creek — 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 64/100 on livability (#340 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Carteret County Public Schools (rural): math 59% / reading 61% proficiency, ranked #31 of 178 in NC (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bogue Sound Elementary (math 63% / reading 63%, grade B, #168 of 1,410 statewide, top 12%, 467 students, 99% FRL); Broad Creek Middle (math 63% / reading 68%, grade A-, #28 of 475 statewide, top 6%, 710 students, 100% FRL); Croatan High (math 82% / reading 78%, grade A, #73 of 535 statewide, top 13%, 974 students, 26% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 216 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).
• At $12,595/mo this rent would consume 215% of the median local household income ($70k/yr) (locally 461% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Carteret County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $95k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 548 days — a 12% lower offer ($306k) is reasonable based on typical stale-listing flexibility.

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 $305,791 (12.0% below list)

Questions for the listing agent

1. It's been on market 548 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. 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. 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: 3.70% ✓
• Cap rate: 33.04%
• Cash-on-cash: 95.53%
• DSCR: 5.25
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $340,725
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Jones Ridge Ln	0.03mi	3/2.0	1,475 (0%)	8mo	$350,000	$237	92
214 Jones Ridge Ln Lot 88	0.02mi	3/2.0	1,475 (0%)	14mo	$339,999	$231	87
114 Dixon Pond Dr Lot 104	0.12mi	3/2.0	1,475 (0%)	18mo	$355,190	$241	79
252 Jones Ridge Ln Lot 70	0.05mi	3/2.0	1,475 (0%)	24mo	$340,990	$231	78
276 Jones Ridge Ln Lot 64	0.10mi	3/2.0	1,475 (0%)	24mo	$345,540	$234	76
121 Guthrie Dr	0.56mi	3/2.0	1,497 (+2%)	5mo	$374,500	$250	67
199 Jones Ridge Ln Lot 93	0.05mi	3/2.0	1,618 (+10%)	18mo	$369,990	$229	66
234 Jones Ridge Ln Lot 76	0.02mi	3/2.0	1,618 (+10%)	21mo	$361,490	$223	65
270 Jones Ridge Ln	0.26mi	3/2.0	1,618 (+10%)	8mo	$375,000	$232	65
112 Dixon Pond Dr Lot 103	0.13mi	3/2.0	1,618 (+10%)	18mo	$366,999	$227	63
270 Jones Ridge Ln Lot 66	0.08mi	3/2.0	1,618 (+10%)	24mo	$360,490	$223	60
118 Turtle Ct	0.75mi	3/2.0	1,606 (+9%)	4mo	$245,000	$153	47

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: 96.4%
• Equity multiple: 5.49×
• Total profit: $428,719
• Equity at exit: $50,803

10-year hold

• IRR: 99.1%
• Equity multiple: 11.45×
• Total profit: $996,988
• Equity at exit: $29,460

Cash invested: $95,403 (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 28570

• Home prices YoY: -16.2%
• Active inventory: 216
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $12,595 medium
• Mortgage (P&I): −$1,787
• Tax est. 1.5%: −$426 /mo · $5,111/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,645
• Net cashflow: $7,595

Break-even live

Break-even rent $2,981

Max offer price $340,725

Occupancy floor 35%

Sensitivity live

Price	-10% $7,831	-5% $7,713	+0% $7,595	+5% $7,477	+10% $7,360
Rent	-10% $6,600	-5% $7,098	+0% $7,595	+5% $8,093	+10% $8,590
Rate	-1.0pp $7,767	-0.5pp $7,682	base $7,595	+0.5pp $7,507	+1.0pp $7,417

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: $85,181
• Closing costs: $10,222
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $347,490 Active 548 DOM
2. 2026-06-18
   days on market $347,490 Active 547 DOM
3. 2026-06-17
   days on market $347,490 Active 546 DOM
4. 2026-06-16
   days on market $347,490 Active 545 DOM
5. 2026-06-15
   days on market $347,490 Active 544 DOM
6. 2026-06-14
   days on market $347,490 Active 542 DOM
7. 2026-06-12
   days on market $347,490 Active 541 DOM
8. 2026-06-09
   days on market $347,490 Active 538 DOM
9. 2026-06-08
   days on market $347,490 Active 537 DOM
10. 2026-06-07
    days on market $347,490 Active 536 DOM
11. 2026-06-05
    days on market $347,490 Active 533 DOM
12. 2026-06-03
    days on market $347,490 Active 532 DOM
13. 2026-06-02
    days on market $347,490 Active 531 DOM
14. 2026-06-01
    days on market $347,490 Active 530 DOM
15. 2026-05-31
    days on market $347,490 Active 529 DOM
16. 2026-05-30
    days on market $347,490 Active 528 DOM

ⓘ 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 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $151,137
• − Mortgage interest: −$19,086
• − Property taxes: −$5,111
• − Insurance: −$1,704
• − Repairs & maintenance: −$12,091
• − Management: −$12,091
• − Depreciation: −$9,912
• Taxable income: $91,143
• Est. tax owed @ 24.0%: −$21,874
• After-tax cash flow: $69,268/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: Carteret County Public Schools
• NCES district ID: 3700630
• Math proficiency: 59% ▲ 5.00%
• Reading proficiency: 61% ▲ 2.00%
• Median HH income: $48,330
• Composite: 50.92/100
• National rank: #1786
• State rank: #31 of 178 in NC

Livability — Broad Creek

• Score: 64/100
• State rank: #340
• US rank: #13718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Broad Creek, NC
• County: Carteret County · 52,389 people
• Metro: Morehead City, NC
• Population (ZIP): 22,197
• Household income: $70,229
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 461.0

Population outlook (Carteret County) Hauer SSP2

• Today (2025): 73,443 people
• By 2030: 75,344 · +2.6%
• By 2040: 78,142 · +6.4%
• By 2050: 80,091 · +9.1%
• By 2075: 86,120 · +17.3%
• By 2100: 89,408 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 92% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Carteret

• 2024 margin: Solid R (+43.1) · D 28.0% · R 71.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -34.7pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+42.0 2016: R+44.5 2012: R+41.0 2008: R+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.54%
• Current HPI: 276.6589
• Rent YoY: —
• Metro: Morehead City, 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