301 Murdoch Rd · Newport, NC 28570

$285,000

4 bd · 3.0 ba · 1,744 sqft · Other public records · 187 Days on market

Built 1981 0.49 ac lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This one has it all! Updated kitchen w/ granite, updated bathrooms, den/home office with storage, garage/man-cave, patio w/ a new auto remote 'SunSetters' awning and a fenced in back yard. Appliances: Shades & Rods Floors: Laminate

Key facts

• One car garage
• Full fence
• Added den space

Tags

• UPDATED KITCHEN
• ADDED DEN SPACE
• LARGE WALK IN CLOSET
• FULL FENCE
• ONE CAR GARAGE
• ADDED BAR

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $285k.

Deal economics

• At list price, monthly cash flow is $10k ($121k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $285k).
• Recommended offer: $251k (12.0% below list) — sets the bar for market timing.
• Cap rate 48.6% vs local median 31.4% in Newport — 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 (#385 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• 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: Newport Elementary (math 48% / reading 45%, grade D-, #542 of 1,410 statewide, top 39%, 645 students, 100% FRL); Newport Middle (math 39% / reading 56%, grade C-, #140 of 475 statewide, top 30%, 378 students, 98% FRL); West Carteret High (math 82% / reading 71%, grade A-, #89 of 535 statewide, top 16%, 1,146 students, 40% FRL) — zoned schools average 79% FRL vs 39% district-wide (40 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 $15,059/mo this rent would consume 257% 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 $2k of loan paydown is wiped out by about $9k 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 $80k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y 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 $143k; list at $285k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 5.28% ✓
• Cap rate: 48.61%
• Cash-on-cash: 151.13%
• DSCR: 7.72
• GRM: 1.6

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: —
• Equity multiple: 8.44×
• Total profit: $594,060
• Equity at exit: $42,494

10-year hold

• IRR: —
• Equity multiple: 17.82×
• Total profit: $1,342,132
• Equity at exit: $24,642

Cash invested: $79,800 (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: 1.6×

Monthly cashflow live

• Estimated rent: $15,059 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$233 /mo · $2,796/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,162
• Net cashflow: $10,050

Break-even live

Break-even rent $2,337

Max offer price $285,000

Occupancy floor 28%

Sensitivity live

Price	-10% $10,211	-5% $10,131	+0% $10,050	+5% $9,969	+10% $9,889
Rent	-10% $8,860	-5% $9,455	+0% $10,050	+5% $10,645	+10% $11,240
Rate	-1.0pp $10,194	-0.5pp $10,123	base $10,050	+0.5pp $9,976	+1.0pp $9,901

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-04-20
   status Pending
2. 2026-03-26
   status Active
3. 2026-03-26
   historical
4. 2026-02-21
   status Active
5. 2026-02-20
   historical
6. 2026-01-08
   status Active
7. 2026-01-08
   price $285,000
8. 2025-10-31
   price $287,000
9. 2025-10-09
   status Active
10. 2025-10-04
    status Pending
11. 2025-10-04
    historical
12. 2025-09-05
    price $287,500
13. 2025-08-11
    price $290,500
14. 2025-07-08
    listed $295,500 Active
15. 2013-12-13
    soldstatus $143,000 235-char remark

    Show marketing remark (235 chars)

    This one has it all! Updated kitchen w/ granite, updated bathrooms, den/home office with storage, garage/man-cave, patio w/ a new auto remote 'SunSetters' awning and a fenced in back yard. Appliances: Shades & Rods Floors: Laminate

16. 2013-12-13
    soldstatus $143,000

    Show marketing remark (235 chars)

    This one has it all! Updated kitchen w/ granite, updated bathrooms, den/home office with storage, garage/man-cave, patio w/ a new auto remote 'SunSetters' awning and a fenced in back yard. Appliances: Shades & Rods Floors: Laminate

17. 2013-07-29
    listed $149,000 235-char remark

    Show marketing remark (235 chars)

    This one has it all! Updated kitchen w/ granite, updated bathrooms, den/home office with storage, garage/man-cave, patio w/ a new auto remote 'SunSetters' awning and a fenced in back yard. Appliances: Shades & Rods Floors: Laminate

18. 2012-08-13
    historical
19. 2012-04-11
    listed $174,000
20. 2008-10-31
    historical
21. 2008-03-25
    listed $175,000
22. 2005-06-30
    soldstatus $148,500
23. 2005-06-29
    soldstatus $148,500
24. 2005-01-01
    listed $159,900

ⓘ 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: $2,796 · $233/mo
• Projected year-2 tax: $2,796 · $233/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $180,703
• − Mortgage interest: −$15,964
• − Property taxes: −$2,796
• − Insurance: −$1,425
• − Repairs & maintenance: −$14,456
• − Management: −$14,456
• − Depreciation: −$8,291
• Taxable income: $123,315
• Est. tax owed @ 24.0%: −$29,596
• After-tax cash flow: $91,005/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 — Newport

• Score: 63/100
• State rank: #385
• US rank: #15094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• City population: 22,197
• 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

+78.2% since first listed

24 events — show timeline

• 2026-04-20 Pending — 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
• 2026-01-08 Relisted — Hive MLS
• 2026-01-08 Price Changed $285,000 Hive MLS
• 2025-10-31 Price Changed $287,000 Hive MLS
• 2025-10-09 Relisted — Hive MLS
• 2025-10-04 Pending — Hive MLS
• 2025-10-04 Listing Removed — Hive MLS
• 2025-09-05 Price Changed $287,500 Hive MLS
• 2025-08-11 Price Changed $290,500 Hive MLS
• 2025-07-08 Listed $295,500 Hive MLS
• 2013-12-13 Sold (Public Records) $143,000 Public Records
• 2013-12-13 Sold (MLS) $143,000 Hive MLS
• 2013-07-29 Listed $149,000 Hive MLS
• 2012-08-13 Listing Removed — Hive MLS
• 2012-04-11 Listed $174,000 Hive MLS
• 2008-10-31 Listing Removed — Hive MLS
• 2008-03-25 Listed $175,000 Hive MLS
• 2005-06-30 Sold (Public Records) $148,500 Public Records
• 2005-06-29 Sold (MLS) $148,500 Hive MLS
• 2005-01-01 Listed $159,900 Hive MLS

Property tax history

+15.7%/yr

Latest (2025): $2,796 · +3.2% YoY. Source: county tax records.