501 Fort Fisher Blvd S Unit 6 & 7 · Kure Beach, NC 28449

$975,000

3 bd · 4.0 ba · 1,784 sqft · Townhouse · 90 Days on market

Built 1978 1,024 sqft lot Est $671k · 45% over

---

Why this score? — see what drove the C+ 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
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Rare 2-unit investment opportunity in Kure Beach just steps from the ocean. 501 Fort Fisher Blvd S #6 & #7 offer flexible use as a continued short-term rental property, renovation project, or future redevelopment site. Both units feature private entrances, functional layouts, and outdoor spaces with ocean views, making them well-suited for vacation rental use. The property has a history of rental activity and is ideally located in a high-demand area close to beach access, the Kure Beach Pier, and local attractions. Investors have multiple paths to value: continue renting as-is, update to increase income potential, or explore redevelopment in this prime coastal location. Opportunities

Key facts

• Kure beach pier
• Private entrances
• Beach access

Tags

• 2 UNIT INVESTMENT OPPORTUNITY
• PRIVATE ENTRANCES
• FUNCTIONAL LAYOUTS
• OUTDOOR SPACES
• BEACH ACCESS
• KURE BEACH PIER

Property features AI

Exterior

• Parking: On-site paved parking; Assigned parking (1 assigned per unit); Parking lot
• Security: Smoke detectors
• Utilities: Public water; Sewer connected; Water connected
• Home design: Townhouse; Two levels; Residential property
• Construction: Vinyl siding and frame construction; Shingle roof; Slab foundation; Built as townhouse (year built not provided)
• Exterior features: Outdoor shower; Covered patio/porch/deck; Deck; Patio; Porch; Corner lot; Has view

Interior

• Kitchen: Electric oven; Electric range; Dishwasher; Refrigerator
• Bedrooms: Total of 8 rooms (bedrooms count not separately listed)
• Flooring: Tile
• Bathrooms: 4 full bathrooms
• Heating & cooling: Heat pump heating (electric); Central air conditioning
• Interior features: Tray ceilings; Ceiling fans; Window coverings; Furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath townhouse listed at $975k.

Deal economics

• At list price, monthly cash flow is $12k ($147k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $975k).
• Recommended offer: $916k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 2.1% in Kure 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 (#303 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: health & safety D, amenities F, commute F.
• New Hanover County Schools (urban): math 48% / reading 53% proficiency, ranked #61 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carolina Beach Elementary (math 55% / reading 59%, grade C+, #249 of 1,410 statewide, top 20%, 431 students, 32% FRL); Charles P Murray Middle (math 59% / reading 59%, grade B, #54 of 475 statewide, top 12%, 882 students, 34% FRL); Eugene Ashley High (math 48% / reading 68%, grade C, #243 of 535 statewide, top 46%, 1,975 students, 34% FRL).
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $29k of value loss. Plan a longer hold.
• New Hanover County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $273k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($916k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y 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 $145k; list at $975k implies a 572% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $916,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.46% ✓
• Cap rate: 21.34%
• Cash-on-cash: 53.72%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $670,784
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Sloop Pointe Ln	0.25mi	3/2.5	1,701 (-5%)	8mo	$545,000	$320	68
805 Sloop Pointe Ln	0.22mi	3/2.5	1,941 (+9%)	1mo	$549,900	$283	68
221 N Ave	0.22mi	4/3.5 (+1)	1,910 (+7%)	12mo	$730,000	$382	62
1017 Trout Ln Unit B	0.46mi	3/3.5	1,700 (-5%)	12mo	$628,700	$370	59
622 Sloop Pointe Ln	0.21mi	4/3.0 (+1)	1,931 (+8%)	13mo	$550,000	$285	56
656 Settlers Ln	0.33mi	3/2.5	1,944 (+9%)	9mo	$653,000	$336	56
115 Hanby Ave Unit B	0.51mi	3/2.5	1,963 (+10%)	2mo	$789,000	$402	52
115 Hanby Ave Unit A	0.51mi	3/2.5	1,963 (+10%)	6mo	$830,000	$423	49
1604 Swordfish Ln Unit 2	0.72mi	3/2.5	1,559 (-13%)	4mo	$685,000	$439	36
1722 Pinfish Ln Unit B	0.60mi	3/2.5	1,519 (-15%)	10mo	$550,000	$362	32
1722 Pinfish Ln Unit A	0.60mi	3/2.5	1,519 (-15%)	13mo	$599,000	$394	30
1614 Pinfish Ln Unit 1	0.72mi	3/2.5	1,528 (-14%)	13mo	$575,000	$376	26

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: 51.9%
• Equity multiple: 3.27×
• Total profit: $620,796
• Equity at exit: $145,376

10-year hold

• IRR: 57.2%
• Equity multiple: 6.66×
• Total profit: $1,544,396
• Equity at exit: $84,300

Cash invested: $273,000 (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 28449

• Active inventory: 92
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $24,000 medium
• Mortgage (P&I): −$5,113
• Tax est. 1.5%: −$1,219 /mo · $14,625/yr
• Insurance: −$406
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,040
• Net cashflow: $12,222

Break-even live

Break-even rent $8,529

Max offer price $975,000

Occupancy floor 44%

Sensitivity live

Price	-10% $12,896	-5% $12,559	+0% $12,222	+5% $11,885	+10% $11,548
Rent	-10% $10,326	-5% $11,274	+0% $12,222	+5% $13,170	+10% $14,118
Rate	-1.0pp $12,713	-0.5pp $12,470	base $12,222	+0.5pp $11,969	+1.0pp $11,712

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1622 Swordfish Ln #1 Carolina Beach, NC	4.0	3.5	2476	$24,000	$9.69	21d	1	0.68mi

Listing history 31 events

1. 2026-06-18
   days on market $975,000 Active 90 DOM
2. 2026-06-17
   days on market $975,000 Active 89 DOM
3. 2026-06-16
   days on market $975,000 Active 88 DOM
4. 2026-06-15
   days on market $975,000 Active 87 DOM
5. 2026-06-14
   days on market $975,000 Active 85 DOM
6. 2026-06-13
   days on market $975,000 Active 84 DOM
7. 2026-06-10
   days on market $975,000 Active 82 DOM
8. 2026-06-09
   days on market $975,000 Active 81 DOM
9. 2026-06-08
   days on market $975,000 Active 80 DOM
10. 2026-06-07
    days on market $975,000 Active 79 DOM
11. 2026-06-05
    days on market $975,000 Active 76 DOM
12. 2026-06-03
    days on market $975,000 Active 75 DOM
13. 2026-06-03
    days on market $975,000 Active 74 DOM
14. 2026-05-31
    days on market $975,000 Active 72 DOM
15. 2026-05-30
    days on market $975,000 Active 71 DOM
16. 2026-03-20
    listed $975,000 Active
17. 2025-12-31
    historical
18. 2025-12-09
    listed $1,050,000 Active
19. 2025-11-30
    historical
20. 2025-08-25
    price $1,100,000
21. 2025-05-23
    listed $1,200,000 Active
22. 2018-02-08
    historical
23. 2018-02-08
    historical
24. 2017-04-17
    listed $510,000
25. 2017-04-17
    listed $259,999
26. 2014-03-20
    soldstatus $145,000
27. 2013-12-01
    listed $159,900
28. 2012-09-20
    historical
29. 2012-09-05
    listed $199,900
30. 2009-09-22
    historical
31. 2008-09-02
    listed $305,000

ⓘ 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 5/10 Major FEMA zone X (shaded) · 46% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 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: $288,000
• − Mortgage interest: −$54,615
• − Property taxes: −$14,625
• − Insurance: −$4,875
• − Repairs & maintenance: −$23,040
• − Management: −$23,040
• − Depreciation: −$28,364
• Taxable income: $139,441
• Est. tax owed @ 24.0%: −$33,466
• After-tax cash flow: $113,198/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: New Hanover County Schools
• NCES district ID: 3703330
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $49,406
• Composite: 43.13/100
• National rank: #3081
• State rank: #61 of 178 in NC

Livability — Kure Beach

• Score: 65/100
• State rank: #303
• US rank: #12563

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kure Beach, NC
• Population (ZIP): 2,017

Population outlook (New Hanover County) Hauer SSP2

• Today (2025): 259,517 people
• By 2030: 279,586 · +7.7%
• By 2040: 318,223 · +22.6%
• By 2050: 354,831 · +36.7%
• By 2075: 437,158 · +68.5%
• By 2100: 486,769 · +87.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Romanian 6% Serbian 5% Lithuanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · New Hanover

• 2024 margin: Toss-up / Even · D 49.8% · R 49.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: -1.4pp · 2024: 0.6pp
• All cycles: 2024: D+0.6 2020: D+2.1 2016: R+4.1 2012: R+4.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.31%
• Current HPI: 246.571
• Rent YoY: —
• Metro: —
• 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

+219.7% since first listed

16 events — show timeline

• 2026-03-20 Listed $975,000 Hive MLS
• 2025-12-31 Listing Removed — Hive MLS
• 2025-12-09 Listed $1,050,000 Hive MLS
• 2025-11-30 Listing Removed — Hive MLS
• 2025-08-25 Price Changed $1,100,000 Hive MLS
• 2025-05-23 Listed $1,200,000 Hive MLS
• 2018-02-08 Listing Removed — Hive MLS
• 2018-02-08 Listing Removed — Hive MLS
• 2017-04-17 Listed $259,999 Hive MLS
• 2017-04-17 Listed $510,000 Hive MLS
• 2014-03-20 Sold (MLS) $145,000 Hive MLS
• 2013-12-01 Listed $159,900 Hive MLS
• 2012-09-20 Listing Removed — Hive MLS
• 2012-09-05 Listed $199,900 Hive MLS
• 2009-09-22 Listing Removed — Hive MLS
• 2008-09-02 Listed $305,000 Hive MLS