111 Hampton Pl · Broad Creek, NC 28570

$639,900

3 bd · 3.0 ba · 2,712 sqft · Other public records · 373 Days on market

Built 1994 0.64 ac lot $33/mo HOA

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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

Listing remarks

Your Coastal Dream Starts Here - Welcome to Life in Bogue Banks! Tucked away on a quiet cul-de-sac in one of the most sought-after waterfront communities on the Crystal Coast, this 4 bedroom, 2.5 bath, beautifully updated home offers the perfect blend of luxury, comfort, and lifestyle. Whether you're hosting a dinner party in the chef's kitchen or enjoying quiet mornings on the screened porch with coffee in hand, every detail of this home invites you to slow down and savor the moment. Designed with main-level living in mind, the layout is ideal for everyday ease, featuring a spacious primary suite that feels like a personal retreat—with a spa-inspired bathroom and a custom walk-in

Key facts

• Screened porch
• Cul-de-sac
• Chef's kitchen

Tags

• CUL-DE-SAC
• WATERFRONT COMMUNITIES
• CHEF'S KITCHEN
• SCREENED PORCH
• MAIN-LEVEL LIVING
• SPA-INSPIRED BATHROOM

Property features AI

Finance

• HOA & community: Homeowners association with annual fee; Annual association fee $400 (about $33.33/month); Association amenities include boat dock and trails

Exterior

• Parking: Attached 2-car garage; 2 total parking spaces; Concrete on-site parking
• Utilities: Well water; Septic tank sewer; Utilities: see remarks
• Home design: Single family residence; Two stories; Located in Bluewater Banks subdivision; Residential zoning
• Construction: Vinyl siding with frame construction; Shingle roof; Crawl space foundation; Built as a residential single-family home
• Exterior features: Covered patio/porch; Deck; Porch; Screened porch; Shed(s); Paved road access

Interior

• Kitchen: Gas cooktop; Refrigerator; Ice maker; Dishwasher; Microwave; Kitchen island; Pantry
• Bedrooms: Master downstairs
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom; Accessible full bath
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Master bedroom on the main level; Walk-in closet(s); Entrance foyer; Kitchen island; Ceiling fans; Pantry; Wet bar; Gas log fireplace
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $640k.

Deal economics

• At list price, monthly cash flow is $6k ($72k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $640k).
• Recommended offer: $563k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 22.6% in Broad Creek — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 $12,428/mo this rent would consume 212% 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 $4k of loan paydown is wiped out by about $19k 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 $179k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 373 days — a 12% lower offer ($563k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.

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 $563,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 373 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 1.94% ✓
• Cap rate: 17.58%
• Cash-on-cash: 40.31%
• DSCR: 2.79
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.7%
• Equity multiple: 2.56×
• Total profit: $279,486
• Equity at exit: $95,411

10-year hold

• IRR: 43.3%
• Equity multiple: 5.11×
• Total profit: $736,231
• Equity at exit: $55,327

Cash invested: $179,172 (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: 4.3×

Monthly cashflow live

• Estimated rent: $12,428 medium
• Mortgage (P&I): −$3,356
• Tax from tax record: −$143 /mo · $1,719/yr
• Insurance: −$267
• HOA: −$33
• Vacancy / Maint / Mgmt: −$2,610
• Net cashflow: $6,019

Break-even live

Break-even rent $4,808

Max offer price $639,900

Occupancy floor 47%

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: $159,975
• Closing costs: $19,197
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $33 · $396/yr
• Likely covers: water

Listing history 6 events

1. 2026-05-31
   days on market $639,900 Active 373 DOM
2. 2026-05-30
   days on market $639,900 Active 372 DOM
3. 2025-08-23
   price $639,900
4. 2025-05-22
   listed $648,000 Active
5. 2017-05-15
   historical
6. 2016-06-18
   listed $309,900

ⓘ 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: $1,719 · $143/mo
• Projected year-2 tax: $5,247 · $437/mo
• Expected delta: +$3,529/yr (+$294/mo · 205.3%)

ⓘ 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 ≥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: $149,132
• − Mortgage interest: −$35,844
• − Property taxes: −$1,719
• − Insurance: −$3,200
• − Repairs & maintenance: −$11,931
• − Management: −$11,931
• − HOA: −$396
• − Depreciation: −$18,615
• Taxable income: $65,497
• Est. tax owed @ 24.0%: −$15,719
• After-tax cash flow: $56,512/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

Price history

+106.5% since first listed

4 events — show timeline

• 2025-08-23 Price Changed $639,900 Hive MLS
• 2025-05-22 Listed $648,000 Hive MLS
• 2017-05-15 Listing Removed — Hive MLS
• 2016-06-18 Listed $309,900 Hive MLS

Property tax history

+3.8%/yr

Latest (2025): $1,719 · +23.5% YoY. Source: county tax records.