3124 Cross St · Shallotte, NC 28470

$228,900

3 bd · 2.0 ba · 1,836 sqft · Manufactured public records · 408 Days on market

Built 2022 10,019 sqft lot Est $261k · 12% under

---

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).

• ARV discount +13.0/15.0
• Cash flow +12.3/30.0
• Schools +3.9/10.0
• DSCR +3.7/10.0
• Livability +3.2/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

New home, Inspiration by Fleetwood, situated in the most convenient, quiet location. This 3 bedroom 2 bath home is equal in space and style with the perfect combination of ease, functionality and convenience. Well appointed kitchen with gracious walk in pantry, all new appliances. Living room and den provide ample room for family to gather and covered side entry porch for entertaining. Minutes to Beaches, shopping, dining, medical facilites. Relax, unwind, live well and enjoy! Let 3124 Cross Street be your sanctuary where the sun and sand come together to create a way of life.

Key facts

• Minutes to dining
• Minutes to shopping
• Minutes to beaches

Tags

• WELL APPOINTED KITCHEN
• WALK IN PANTRY
• COVERED SIDE ENTRY PORCH
• MINUTES TO BEACHES
• MINUTES TO SHOPPING
• MINUTES TO DINING

Property features AI

Finance

• Other: Zoned Co-R-6000; Lot approximately 0.23 acres (100 x 100); Subdivision: Shell Point

Exterior

• Parking: On-site parking
• Security: Fire sprinkler system
• Utilities: Public water; Water available; Septic tank sewer
• Home design: Manufactured home; Single-story; New construction
• Construction: Vinyl siding and frame construction; Block/permanent foundation; Built as new construction
• Exterior features: Porch; Storm door(s); No fencing; Shingle roof; Paved road access; Fire sprinkler system

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher; Microwave; Electric water heater
• Bedrooms: Total rooms: 8
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning; Heat pump cooling
• Interior features: Kitchen island; Ceiling fans; Pantry; Storm windows; Window coverings; Unfurnished
• Laundry & utility: Washer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $-42 ($-502/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (25.5% below list).
• Recommended offer: $171k (25.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.0% in Shallotte — 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 63/100 on livability (#411 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety D, crime F, 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: Jessie Mae Monroe Elementary (math 43% / reading 41%, grade F, #633 of 1,410 statewide, top 48%, 394 students, 99% FRL); Shallotte Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 674 students, 100% 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: 378 active listings in the ZIP; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 31% of the median local income ($65k/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 408 days — a 12% lower offer ($201k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $229k implies a 663% 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; moderate 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 $170,539 (25.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 408 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $260,712
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3021 Martin St SW	0.42mi	3/2.0	2,030 (+11%)	24mo	$289,000	$142	43

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: -17.6%
• Equity multiple: 0.38×
• Total profit: $-39,846
• Equity at exit: $34,130

10-year hold

• IRR: -9.8%
• Equity multiple: 0.40×
• Total profit: $-38,502
• Equity at exit: $19,791

Cash invested: $64,092 (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 28470

• Home prices YoY: -34.8%
• Active inventory: 378
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,705 medium
• Mortgage (P&I): −$1,200
• Tax from tax record: −$93 /mo · $1,120/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-42

Break-even live

Break-even rent $1,758

Max offer price $221,516

Occupancy floor 97%

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: $57,225
• Closing costs: $6,867
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-03
   status $228,900 Pending 408 DOM
2. 2026-06-02
   days on market $228,900 Active 408 DOM
3. 2026-06-01
   days on market $228,900 Active 407 DOM
4. 2026-05-31
   days on market $228,900 Active 406 DOM
5. 2026-05-30
   days on market $228,900 Active 405 DOM
6. 2026-04-02
   price $228,900
7. 2026-03-26
   status Active
8. 2026-03-26
   historical
9. 2026-02-21
   status Active
10. 2026-02-20
    historical
11. 2025-11-04
    status Active
12. 2025-10-31
    historical
13. 2025-06-27
    price $238,900
14. 2025-04-16
    listed $249,900 Active
15. 2024-05-14
    soldstatus $30,000
16. 2023-09-14
    soldstatus $24,000

ⓘ 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: $1,120 · $93/mo
• Projected year-2 tax: $1,877 · $156/mo
• Expected delta: +$757/yr (+$63/mo · 67.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,465
• − Mortgage interest: −$12,822
• − Property taxes: −$1,120
• − Insurance: −$1,144
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − Depreciation: −$6,659
• Taxable loss: −$4,555
• Est. tax savings @ 24.0%: +$1,093
• After-tax cash flow: $592/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 — Shallotte

• Score: 63/100
• State rank: #411
• US rank: #15490

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 11,219
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 11,219
• Household income: $65,030
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 455.0

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 (73%)
• Race & ethnicity: White 73% Black 13% Two or more races 9% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -77.91%
• Current HPI: 146.2303
• 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

+853.8% since first listed

11 events — show timeline

• 2026-04-02 Price Changed $228,900 Hive MLS
• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-02-21 Relisted — Hive MLS
• 2026-02-20 Listing Removed — Hive MLS
• 2025-11-04 Relisted — Hive MLS
• 2025-10-31 Listing Removed — Hive MLS
• 2025-06-27 Price Changed $238,900 Hive MLS
• 2025-04-16 Listed $249,900 Hive MLS
• 2024-05-14 Sold (Public Records) $30,000 Public Records
• 2023-09-14 Sold (Public Records) $24,000 Public Records

Property tax history

+37.0%/yr

Latest (2025): $1,120 · +1012.4% YoY. Source: county tax records.