1681 Tuna Dr SW · Shallotte, NC 28470

$129,000

2 bd · 1.0 ba · 616 sqft · Manufactured · 35 Days on market

Built 1977 6,970 sqft lot Est $118k · 10% over

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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 +19.6/30.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Schools +3.9/10.0
• ARV discount +3.2/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NO HOA - YOU OWN THE LAND! Just 15 minutes to Holden Beach. Skip the high cost of beach-front property and land lease fees. This fully renovated, move-in ready 2-bedroom, 1-bathroom home provides the ultimate affordable coastal lifestyle. Located just a short distance from the beautiful Shallotte River, your weekends will be filled with kayaking, fishing, and exploring the water right from your neighborhood. Tucked away on a quiet, private end-of-road lot, this property gives you the peace and space you won't find in a crowded community. The entire home has been updated from top to bottom with a new kitchen, new flooring throughout, a refreshed bathroom, and a brand-new HVAC system for year

Key facts

• Private deck
• Spacious yard
• Fully renovated

Tags

• FULLY RENOVATED
• NO HOA
• PRIVATE DECK
• SPACIOUS YARD
• FENCED-IN AREA
• QUIET END-OF-ROAD LOT

Property features AI

Finance

• Other: Pets allowed; Zoning: Co-R-6000

Exterior

• Parking: Gravel/unpaved parking
• Utilities: Public water; Water connected; Cable available; Septic tank sewer
• Home design: Manufactured home (residential); One story; Entry level: 1; Facing information not provided
• Construction: Vinyl siding with frame construction; Raised foundation; Metal roof; Built year not provided
• Exterior features: Deck; Back yard fencing; Level lot; Has a view

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump; Electric heating; Has cooling
• Interior features: Heat pump and electric heating; Cooling via heat pump; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: Supply Elementary (math 46% / reading 39%, grade F, #625 of 1,410 statewide, top 45%, 539 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k 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 35 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $129k implies a 562% 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; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.02% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $117,656
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1743 Pompano St SW	0.05mi	2/1.0	675 (+10%)	14mo	$129,000	$191	70
1888 Little Shallotte River Dr SW	0.14mi	2/1.0	560 (-9%)	17mo	$119,900	$214	64
1201 Riverview Dr SW	0.63mi	2/1.0	700 (+14%)	14mo	$130,000	$186	36

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: -8.6%
• Equity multiple: 0.68×
• Total profit: $-11,443
• Equity at exit: $19,234

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $2,272
• Equity at exit: $11,154

Cash invested: $36,120 (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 28470

• Home prices YoY: -34.8%
• Active inventory: 378
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $148

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 84%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $129,000 Active 35 DOM
2. 2026-06-17
   days on market $129,000 Active 34 DOM
3. 2026-06-16
   days on market $129,000 Active 33 DOM
4. 2026-06-15
   days on market $129,000 Active 32 DOM
5. 2026-06-14
   days on market $129,000 Active 30 DOM
6. 2026-06-13
   days on market $129,000 Active 29 DOM
7. 2026-06-10
   days on market $129,000 Active 27 DOM
8. 2026-06-09
   days on market $129,000 Active 26 DOM
9. 2026-06-08
   days on market $129,000 Active 25 DOM
10. 2026-06-07
    days on market $129,000 Active 24 DOM
11. 2026-06-05
    days on market $129,000 Active 21 DOM
12. 2026-06-03
    days on market $129,000 Active 20 DOM
13. 2026-06-02
    days on market $129,000 Active 19 DOM
14. 2026-06-01
    pricedays on market $129,000 Active 18 DOM
15. 2026-05-31
    days on market $109,000 Active 17 DOM
16. 2026-05-30
    days on market $109,000 Active 16 DOM
17. 2026-05-23
    price $109,000
18. 2026-05-14
    listed $150,000 Active
19. 2016-10-11
    soldstatus $19,500
20. 2016-10-11
    soldstatus $19,500

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 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: $15,793
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$3,753
• Taxable loss: −$293
• Est. tax savings @ 24.0%: +$70
• After-tax cash flow: $1,849/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

+459.0% since first listed

4 events — show timeline

• 2026-05-23 Price Changed $109,000 Hive MLS
• 2026-05-14 Listed $150,000 Hive MLS
• 2016-10-11 Sold (Public Records) $19,500 Public Records
• 2016-10-11 Sold (Public Records) $19,500 Public Records

Property tax history

+0.9%/yr

Latest (2025): $146 · +5.2% YoY. Source: county tax records.