2435 S Virginia Dare Trl Lot 2 · Nags Head, NC 27959

$79,000

4 bd · 3.0 ba · 2,183 sqft · Condo · 64 Days on market

Built 1983 Fair condition

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

FIVE SEASONS CO-OWNERSHIP – Affordable opportunity to own 1/10th Ownership that is maintenance and worry-free! Spend five weeks throughout the year in NAGS HEAD on the OCEANFRONT! Own 1/10th of a pet-friendly 4 bedroom, 3 bath Duplex Unit 3 with all expenses included in HOA dues, e. g. taxes, insurance, cable, all utilities, cleaning, and linens – no bills to pay! Relax and enjoy awesome ocean views and breezes on the wrap-around expansive decks, enter to over 2,000 square feet of living space to a large open floor plan, the second floor offers a comfortable living room centered around a brick wood-burning fireplace (firewood provided), wet bar, dining room, fully equipped kitchen with bar seating. Stroll down the hall to Queen bedroom on this level also. Claim the spacious master suite overlooking the ocean from a private balcony located on the third floor. Soak your cares away in a large, jetted tub or separate shower in the ensuite bath. You have your pick of two additional twin bedrooms on this level also. Utilize the laundry area, outdoor shower, enclosed garage, and owner’s assigned storage lockers in the first-floor entry foyer. Annual fees are reasonable at Five Seasons. Owners have a rotating schedule of five weeks each year. The rotation includes one major holiday per owner per year. A rotating calendar is provided indicating an owner’s occupancy schedule. Please see in the associated documents, 2022-2023 calendar for Arney Share. Check-in is Friday at 4:00 p. m. and check-out is the following Friday at 10:00 a. m. Use all five weeks or either rent the weeks you choose to use or trade with other owners who may be willing to do so. Walk, bike, or just a short drive to area restaurants and activities to enjoy all the Outer Banks has to offer! Don’t miss your chance to own Oceanfront at a fraction of the usual cost. Enjoy the advantage of full use of the wide beaches of Nags Head from the recent beach nourishment. Five Seasons has a private boardwalk to their own beach access, protected by tall, mature dunes.

Key facts

• Private deck
• Open floor plan
• Wet bar

Tags

• UPDATED KITCHEN
• OPEN FLOOR PLAN
• WET BAR
• WOOD BURNING FIREPLACE
• PRIVATE DECK
• PANORAMIC OCEAN VIEWS

Property features AI

Finance

• HOA & community: Association covers cable TV and water

Exterior

• Parking: One-car garage; Paved parking
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank
• Home design: Residential stock cooperative (co-ownership, multi-week); Zoned CO3
• Construction: Frame construction with wood siding; Asphalt roof
• Exterior features: Deck; Waterfront property with beach front, beach access, and ocean front

Interior

• Kitchen: Disposal; Dishwasher; Microwave
• Flooring: Carpet
• Bathrooms: Three full bathrooms
• Heating & cooling: Heat pump heating and cooling; Ceiling fan(s)
• Interior features: Wet bar; Furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $79k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-51 ($-617/yr) — negative.
• To cash-flow at today's rent, offer at most $72k (9.4% below list).
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $72k (9.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 63/100 on livability (#435 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, housing B+; Watch: crime D+, cost of living D, amenities F.
• Dare County Schools (town): math 44% / reading 48% proficiency, ranked #77 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 106 active listings in the ZIP; 371 units permitted in Dare County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($546 loan paydown + $8k appreciation (10.0% local appreciation)).
• Dare County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y 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 $66k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance); 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 $71,561 (9.4% 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 64 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. Crime grade is D 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.86% ✓
• Cap rate: 15.67%
• Cash-on-cash: 33.50%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.5%
• Equity multiple: 2.82×
• Total profit: $40,185
• Equity at exit: $71,169

10-year hold

• IRR: 20.3%
• Equity multiple: 6.51×
• Total profit: $121,774
• Equity at exit: $153,480

Cash invested: $22,120 (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 27959

• Home prices YoY: 7.0%
• Active inventory: 106
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,473 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $-51

Break-even live

Break-even rent $1,538

Max offer price $71,561

Occupancy floor 98%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: cable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $79,000 Active 64 DOM
2. 2026-06-17
   days on market $79,000 Active 63 DOM
3. 2026-06-16
   days on market $79,000 Active 62 DOM
4. 2026-06-15
   days on market $79,000 Active 61 DOM
5. 2026-06-13
   days on market $79,000 Active 59 DOM
6. 2026-06-12
   days on market $79,000 Active 58 DOM
7. 2026-06-09
   days on market $79,000 Active 55 DOM
8. 2026-06-08
   days on market $79,000 Active 54 DOM
9. 2026-06-07
   days on market $79,000 Active 53 DOM
10. 2026-06-07
    days on market $79,000 Active 52 DOM
11. 2026-06-04
    days on market $79,000 Active 49 DOM
12. 2026-06-02
    days on market $79,000 Active 48 DOM
13. 2026-06-01
    days on market $79,000 Active 47 DOM
14. 2026-05-31
    days on market $79,000 Active 46 DOM
15. 2026-04-27
    status Active
16. 2026-04-20
    historical Active Under Contract
17. 2026-04-15
    listed $79,000 Active
18. 2022-08-16
    soldstatus $66,000 2089-char remark

    Show marketing remark (2089 chars)

    FIVE SEASONS CO-OWNERSHIP – Affordable opportunity to own 1/10th Ownership that is maintenance and worry-free! Spend five weeks throughout the year in NAGS HEAD on the OCEANFRONT! Own 1/10th of a pet-friendly 4 bedroom, 3 bath Duplex Unit 3 with all expenses included in HOA dues, e. g. taxes, insurance, cable, all utilities, cleaning, and linens – no bills to pay! Relax and enjoy awesome ocean views and breezes on the wrap-around expansive decks, enter to over 2,000 square feet of living space to a large open floor plan, the second floor offers a comfortable living room centered around a brick wood-burning fireplace (firewood provided), wet bar, dining room, fully equipped kitchen with bar seating. Stroll down the hall to Queen bedroom on this level also. Claim the spacious master suite overlooking the ocean from a private balcony located on the third floor. Soak your cares away in a large, jetted tub or separate shower in the ensuite bath. You have your pick of two additional twin bedrooms on this level also. Utilize the laundry area, outdoor shower, enclosed garage, and owner’s assigned storage lockers in the first-floor entry foyer. Annual fees are reasonable at Five Seasons. Owners have a rotating schedule of five weeks each year. The rotation includes one major holiday per owner per year. A rotating calendar is provided indicating an owner’s occupancy schedule. Please see in the associated documents, 2022-2023 calendar for Arney Share. Check-in is Friday at 4:00 p. m. and check-out is the following Friday at 10:00 a. m. Use all five weeks or either rent the weeks you choose to use or trade with other owners who may be willing to do so. Walk, bike, or just a short drive to area restaurants and activities to enjoy all the Outer Banks has to offer! Don’t miss your chance to own Oceanfront at a fraction of the usual cost. Enjoy the advantage of full use of the wide beaches of Nags Head from the recent beach nourishment. Five Seasons has a private boardwalk to their own beach access, protected by tall, mature dunes.

19. 2022-07-08
    listed $68,000 2089-char remark

    Show marketing remark (2089 chars)

    FIVE SEASONS CO-OWNERSHIP – Affordable opportunity to own 1/10th Ownership that is maintenance and worry-free! Spend five weeks throughout the year in NAGS HEAD on the OCEANFRONT! Own 1/10th of a pet-friendly 4 bedroom, 3 bath Duplex Unit 3 with all expenses included in HOA dues, e. g. taxes, insurance, cable, all utilities, cleaning, and linens – no bills to pay! Relax and enjoy awesome ocean views and breezes on the wrap-around expansive decks, enter to over 2,000 square feet of living space to a large open floor plan, the second floor offers a comfortable living room centered around a brick wood-burning fireplace (firewood provided), wet bar, dining room, fully equipped kitchen with bar seating. Stroll down the hall to Queen bedroom on this level also. Claim the spacious master suite overlooking the ocean from a private balcony located on the third floor. Soak your cares away in a large, jetted tub or separate shower in the ensuite bath. You have your pick of two additional twin bedrooms on this level also. Utilize the laundry area, outdoor shower, enclosed garage, and owner’s assigned storage lockers in the first-floor entry foyer. Annual fees are reasonable at Five Seasons. Owners have a rotating schedule of five weeks each year. The rotation includes one major holiday per owner per year. A rotating calendar is provided indicating an owner’s occupancy schedule. Please see in the associated documents, 2022-2023 calendar for Arney Share. Check-in is Friday at 4:00 p. m. and check-out is the following Friday at 10:00 a. m. Use all five weeks or either rent the weeks you choose to use or trade with other owners who may be willing to do so. Walk, bike, or just a short drive to area restaurants and activities to enjoy all the Outer Banks has to offer! Don’t miss your chance to own Oceanfront at a fraction of the usual cost. Enjoy the advantage of full use of the wide beaches of Nags Head from the recent beach nourishment. Five Seasons has a private boardwalk to their own beach access, protected by tall, mature dunes.

20. 2022-06-01
    soldstatus $65,000 1391-char remark

    Show marketing remark (1391 chars)

    Five Seasons! This is a great opportunity to own 5 Weeks of classic Nags Head Heaven with easy, care free fractional ownership! This Five Seasons Duplex offers worry free fractional ownership with all expenses included in the HOA dues, e. g. , taxes, insurance, cable, and all utilities. You will own 1/10th of the home and its contents and have 5 rotating weeks/yr. use of your beautiful, classic Nags Head oceanfront home. Just show up and enjoy the beach and all of the nearby amenities Nags Head and the Outer Banks has to offer. Close to the Red Drum restaurant and Farm Dog Surf School. This home offers beautiful ocean views and is tastefully decorated with 4 bedrooms, 3 baths, laundry area, outdoor shower, grilling area, garage, and owner's storage area in the entry foyer. The main living area offers a large open floor plan and the home boasts both front and back decks, and a spacious master suite overlooking the ocean with a private deck. The Master Bath offers a large jetted tub and separate shower. This is a great opportunity to own your own piece of ocean front paradise at a fraction of the usual cost. Use all 5 weeks or either rent the weeks you choose not to use, or trade with other owners who may be willing to do so. Unlike most other co-ownership units, this unit is pet friendly! Remaining 2022 weeks are: 4/29 - 5/6, 7/29 - 8/5, 10/21 - 10/28, and 12/30 - 1/5.

21. 2022-03-11
    soldstatus $65,000
22. 2022-02-22
    listed $65,000 1391-char remark

    Show marketing remark (1391 chars)

    Five Seasons! This is a great opportunity to own 5 Weeks of classic Nags Head Heaven with easy, care free fractional ownership! This Five Seasons Duplex offers worry free fractional ownership with all expenses included in the HOA dues, e. g. , taxes, insurance, cable, and all utilities. You will own 1/10th of the home and its contents and have 5 rotating weeks/yr. use of your beautiful, classic Nags Head oceanfront home. Just show up and enjoy the beach and all of the nearby amenities Nags Head and the Outer Banks has to offer. Close to the Red Drum restaurant and Farm Dog Surf School. This home offers beautiful ocean views and is tastefully decorated with 4 bedrooms, 3 baths, laundry area, outdoor shower, grilling area, garage, and owner's storage area in the entry foyer. The main living area offers a large open floor plan and the home boasts both front and back decks, and a spacious master suite overlooking the ocean with a private deck. The Master Bath offers a large jetted tub and separate shower. This is a great opportunity to own your own piece of ocean front paradise at a fraction of the usual cost. Use all 5 weeks or either rent the weeks you choose not to use, or trade with other owners who may be willing to do so. Unlike most other co-ownership units, this unit is pet friendly! Remaining 2022 weeks are: 4/29 - 5/6, 7/29 - 8/5, 10/21 - 10/28, and 12/30 - 1/5.

23. 2022-01-31
    listed $68,000
24. 2021-11-30
    soldstatus $60,000
25. 2021-11-13
    listed $65,000
26. 2020-07-29
    soldstatus $60,000
27. 2020-01-09
    listed $61,000
28. 2019-08-13
    soldstatus $51,000
29. 2019-04-26
    soldstatus $50,000
30. 2018-10-19
    listed $55,000
31. 2018-05-08
    listed $52,000

ⓘ 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 VE · 47% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,674
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$8,423
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$2,298
• Taxable loss: −$1,485
• Est. tax savings @ 24.0%: +$356
• After-tax cash flow: $-260/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to its exterior and deck, but the interior is in good condition and offers a good rental opportunity.

Repairs flagged

• Major Deck — Significant rot and damage
• Moderate Exterior siding — Weathered and peeling
• Minor Windows — Some minor cracks

Value-add opportunities

• Both Replace deck and siding — Enhances curb appeal and interior comfort
• Both Paint exterior siding — Improves curb appeal and reduces maintenance
• Both Replace windows — Enhances energy efficiency and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · Significant rot and damage	Major	$15,000–50,000
Exterior siding · Weathered and peeling	Moderate	$3,000–15,000
Windows · Some minor cracks	Minor	$500–3,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Both Replace deck and siding — Enhances curb appeal and interior comfort ↑
• Both Paint exterior siding — Improves curb appeal and reduces maintenance ↑
• Both Replace windows — Enhances energy efficiency and curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dare County Schools
• NCES district ID: 3701110
• Math proficiency: 44% ▼ -4.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $54,233
• Composite: 39.86/100
• National rank: #3866
• State rank: #77 of 178 in NC

Livability — Nags Head

• Score: 63/100
• State rank: #435
• US rank: #16063

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nags Head, NC
• Population (ZIP): 3,172

Population outlook (Dare County) Hauer SSP2

• Today (2025): 39,201 people
• By 2030: 40,756 · +4.0%
• By 2040: 43,015 · +9.7%
• By 2050: 44,477 · +13.5%
• By 2075: 48,522 · +23.8%
• By 2100: 50,980 · +30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3% Black 1%
• Common ancestry: Romanian 8% Serbian 4% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Dare

• 2024 margin: R (+18.8) · D 40.1% · R 58.9%
• 2008→2024 swing: -9.5pp toward R · 2008: -9.2pp · 2024: -18.8pp
• All cycles: 2024: R+18.8 2020: R+16.5 2016: R+22.1 2012: R+16.1 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 42.66%
• Current HPI: 655.05
• 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

+51.9% since first listed

17 events — show timeline

• 2026-04-27 Relisted — OBMLS
• 2026-04-20 Contingent — OBMLS
• 2026-04-15 Listed $79,000 OBMLS
• 2022-08-16 Sold (MLS) $66,000 OBMLS
• 2022-07-08 Listed $68,000 OBMLS
• 2022-06-01 Sold (MLS) $65,000 OBMLS
• 2022-03-11 Sold (MLS) $65,000 OBMLS
• 2022-02-22 Listed $65,000 OBMLS
• 2022-01-31 Listed $68,000 OBMLS
• 2021-11-30 Sold (MLS) $60,000 OBMLS
• 2021-11-13 Listed $65,000 OBMLS
• 2020-07-29 Sold (MLS) $60,000 OBMLS
• 2020-01-09 Listed $61,000 OBMLS
• 2019-08-13 Sold (MLS) $51,000 OBMLS
• 2019-04-26 Sold (MLS) $50,000 OBMLS
• 2018-10-19 Listed $55,000 OBMLS
• 2018-05-08 Listed $52,000 OBMLS