BENNINGTON Plan · Holden Beach, NC 28462

$244,990

4 bd · 2.5 ba · 1,765 sqft · SingleFamily · 454 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 +12.4/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Garage
• Listed 454 days

Property features AI

Finance

• Financial info: List price $244,990; Inventory type: Plan

Exterior

• Home design: Single-family plan home named Bennington; Located at 418 Hewett Landing Dr, Supply NC 28462

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan home (Bennington)

🏗️ New construction. The $244,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $255,925.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-42 ($-500/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (10.8% below list).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 3.0% in Holden 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 (#334 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, housing A; Watch: cost of living D, health & safety D, 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: Supply Elementary (math 46% / reading 39%, grade F, #625 of 1,410 statewide, top 45%, 539 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% 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: 513 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 43% of the median local income ($60k/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 $8k 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 454 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

Recommended offer $215,591 (12.0% 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 454 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 0.85% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $255,925
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1060 Maple View Rd SW	0.02mi	4/2.5	1,765 (0%)	4mo	$249,490	$141	96
1028 Maple View Rd SW	0.04mi	4/2.5	1,765 (0%)	3mo	$252,991	$143	96
346 Bragg Rd SW	0.08mi	4/2.5	1,765 (0%)	2mo	$244,990	$139	95
334 Bragg Rd SW	0.07mi	4/2.5	1,765 (0%)	3mo	$247,000	$140	94
367 Bosco Ln SW	0.09mi	4/2.5	1,765 (0%)	2mo	$244,990	$139	94
370 Bosco Rd SW	0.12mi	4/2.5	1,765 (0%)	0mo	$249,990	$142	94
1052 Maple View Rd SW	0.02mi	4/3.0	1,774 (+0%)	3mo	$257,991	$145	94
347 Bragg Rd SW	0.06mi	4/3.0	1,774 (+0%)	1mo	$258,888	$146	94
342 Bragg Rd SW	0.08mi	4/3.0	1,774 (+0%)	2mo	$257,888	$145	92
363 Bosco Ln SW	0.09mi	4/3.0	1,774 (+0%)	2mo	$259,888	$146	92
362 Bosco Ln SW	0.12mi	4/2.0	1,773 (+0%)	0mo	$263,990	$149	91
375 Bosco Ln SW	0.10mi	4/3.0	1,774 (+0%)	2mo	$264,990	$149	91

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: -17.4%
• Equity multiple: 0.38×
• Total profit: $-44,091
• Equity at exit: $38,159

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-41,675
• Equity at exit: $22,128

Cash invested: $71,659 (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 28462

• Active inventory: 513
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,186 medium
• Mortgage (P&I): −$1,342
• Tax est. 1.5%: −$320 /mo · $3,839/yr
• Insurance: −$107
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $-42

Break-even live

Break-even rent $2,239

Max offer price $249,898

Occupancy floor 97%

Sensitivity live

Price	-10% $135	-5% $47	+0% $-42	+5% $-130	+10% $-219
Rent	-10% $-214	-5% $-128	+0% $-42	+5% $45	+10% $131
Rate	-1.0pp $87	-0.5pp $23	base $-42	+0.5pp $-108	+1.0pp $-175

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: $63,981
• Closing costs: $7,678
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2272 Dolphin Shores Dr SW Unit 203 Supply, NC	3.0	3.0	1567	$1,850	$1.18	15d	1	0.24mi

Listing history 16 events

1. 2026-06-22
   days on market $244,990 Active 454 DOM
2. 2026-06-18
   days on market $244,990 Active 451 DOM
3. 2026-06-17
   days on market $244,990 Active 450 DOM
4. 2026-06-16
   days on market $244,990 Active 449 DOM
5. 2026-06-15
   days on market $244,990 Active 448 DOM
6. 2026-06-14
   days on market $244,990 Active 446 DOM
7. 2026-06-13
   days on market $244,990 Active 445 DOM
8. 2026-06-10
   days on market $244,990 Active 443 DOM
9. 2026-06-09
   days on market $244,990 Active 442 DOM
10. 2026-06-08
    days on market $244,990 Active 441 DOM
11. 2026-06-07
    days on market $244,990 Active 440 DOM
12. 2026-06-05
    days on market $244,990 Active 437 DOM
13. 2026-06-02
    days on market $244,990 Active 435 DOM
14. 2026-06-01
    days on market $244,990 Active 434 DOM
15. 2026-05-31
    days on market $244,990 Active 433 DOM
16. 2026-05-30
    days on market $244,990 Active 432 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: $26,233
• − Mortgage interest: −$14,336
• − Property taxes: −$3,839
• − Insurance: −$1,280
• − Repairs & maintenance: −$2,099
• − Management: −$2,099
• − Depreciation: −$7,445
• Taxable loss: −$4,864
• Est. tax savings @ 24.0%: +$1,167
• After-tax cash flow: $667/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 — Holden Beach

• Score: 65/100
• State rank: #334
• US rank: #13586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 12,340
• Household income: $60,349
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 269.0

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 (87%)
• Race & ethnicity: White 87% Black 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -259.44%
• Current HPI: 144.2462
• 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