117 Constitution Ct · Broad Creek, NC 28570

$355,800

3 bd · 2.0 ba · 1,636 sqft · SingleFamily · 1 Days on market

Built 2026 Poor condition Est $363k · at est. $27/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 +8.4/15.0
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

NO SHOWINGS! PRE SALE! The single story classic Bayhill is a part of the JC Jackson's Carolina Series. With three bedrooms and two bathrooms this split bedroom home features a great room open to the kitchen and dining area that includes a corner pantry, and center eat at island. The owner's suite is separate from the secondary bedrooms, overlooks the backyard, and features a large walk-in closet.

Key facts

• Corner pantry
• Center eat at island
• Single story

Tags

• SINGLE STORY
• GREAT ROOM
• CORNER PANTRY
• CENTER EAT AT ISLAND
• OWNER'S SUITE
• LARGE WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $356k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $7k ($88k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $356k).
• Cap rate 31.0% vs local median 22.6% in Broad Creek — 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 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: 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 $12,434/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 $2k of loan paydown is wiped out by about $11k 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 $100k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $355,800

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.49% ✓
• Cap rate: 31.04%
• Cash-on-cash: 88.38%
• DSCR: 4.93
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $363,192
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Guthrie Dr	0.20mi	3/2.0	1,497 (-8%)	5mo	$374,500	$250	72
270 Jones Ridge Ln	0.50mi	3/2.0	1,618 (-1%)	8mo	$375,000	$232	68
227 Jones Ridge Ln	0.51mi	4/2.0 (+1)	1,705 (+4%)	3mo	$377,000	$221	62
111 Whitewater Cv	0.40mi	3/2.0	1,733 (+6%)	13mo	$389,900	$225	61
129 Ballantine Grove Ln	0.41mi	3/2.0	1,760 (+8%)	11mo	$387,000	$220	59
202 Jones Ridge Ln	0.45mi	3/2.0	1,475 (-10%)	8mo	$350,000	$237	56
111 Dixon Pond Dr Lot 96	0.38mi	4/2.0 (+1)	1,774 (+8%)	16mo	$369,999	$209	50
214 Jones Ridge Ln Lot 88	0.49mi	3/2.0	1,475 (-10%)	14mo	$339,999	$231	49
210 Jones Ridge Ln Lot 89	0.47mi	4/2.0 (+1)	1,774 (+8%)	13mo	$374,199	$211	48
200 Jones Ridge Ln Lot 91	0.42mi	4/2.0 (+1)	1,774 (+8%)	16mo	$369,999	$209	47
206 Fawns Path Cir Lot 87	0.50mi	4/2.0 (+1)	1,774 (+8%)	17mo	$385,990	$218	44
211 Fawns Path Cir Lot 83	0.55mi	4/2.0 (+1)	1,774 (+8%)	15mo	$393,000	$222	43

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: 89.0%
• Equity multiple: 5.11×
• Total profit: $409,848
• Equity at exit: $53,051

10-year hold

• IRR: 92.0%
• Equity multiple: 10.63×
• Total profit: $959,439
• Equity at exit: $30,763

Cash invested: $99,624 (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: 2.4×

Monthly cashflow live

• Estimated rent: $12,434 medium
• Mortgage (P&I): −$1,866
• Tax est. 1.5%: −$445 /mo · $5,337/yr
• Insurance: −$148
• HOA: −$27
• Vacancy / Maint / Mgmt: −$2,611
• Net cashflow: $7,337

Break-even live

Break-even rent $3,147

Max offer price $355,800

Occupancy floor 36%

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: $88,950
• Closing costs: $10,674
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $27 · $324/yr

Listing history 2 events

1. 2026-03-25
   status Pending
2. 2026-03-24
   listed $355,800 Active

ⓘ 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 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: $149,208
• − Mortgage interest: −$19,930
• − Property taxes: −$5,337
• − Insurance: −$1,779
• − Repairs & maintenance: −$11,937
• − Management: −$11,937
• − HOA: −$324
• − Depreciation: −$10,351
• Taxable income: $87,614
• Est. tax owed @ 24.0%: −$21,027
• After-tax cash flow: $67,017/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 · 2 photos

Poor 20/100 Extensive rehab

This single-story home requires extensive repairs and updates to its exterior, roof, landscaping, and interior systems. Significant improvements are needed to bring the property up to a livable condition.

Repairs flagged

• Major roof — Significant wear and tear visible.
• Major exterior siding — Significant wear and tear visible.
• Major landscaping — Sparse and unmaintained appearance.
• Major interior walls/paint — No interior walls or paint are visible in the photos, but the exterior suggests poor condition.
• Major bathrooms — No bathrooms are visible in the photos, but the exterior suggests poor condition.
• Major kitchen — No kitchen is visible in the photos, but the exterior suggests poor condition.
• Major systems — No systems are visible in the photos, but the exterior suggests poor condition.
• Major windows — No windows are visible in the photos, but the exterior suggests poor condition.
• Major foundation/structure — No foundation or structure is visible in the photos, but the exterior suggests poor condition.
• Major HVAC/mechanicals — No HVAC or mechanicals are visible in the photos, but the exterior suggests poor condition.
• Major landscaping — Sparse and unmaintained appearance, no visible curb appeal features.

Value-add opportunities

• Both landscaping and curb appeal — Improving the landscaping and curb appeal would enhance both the resale and rental value.
• Both exterior repairs and painting — Repairing and repainting the exterior would significantly improve the home's appearance and value.
• Both roof replacement — Replacing the roof would address a major issue and improve the home's overall condition.
• Both interior repairs and painting — Repairing and repainting the interior would improve the home's condition and appearance.
• Both bathroom and kitchen updates — Updating the bathrooms and kitchen would improve the home's functionality and appeal.
• Both HVAC and mechanicals — Upgrading the HVAC and mechanicals would improve the home's comfort and energy efficiency.
• Both landscaping and curb appeal — Improving the landscaping and curb appeal would enhance both the resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and tear visible.	Major	$15,000–50,000
exterior siding · Significant wear and tear visible.	Major	$15,000–50,000
landscaping · Sparse and unmaintained appearance.	Major	$15,000–50,000
interior walls/paint · No interior walls or paint are visible in the photos, but the exterior suggests poor condition.	Major	$15,000–50,000
bathrooms · No bathrooms are visible in the photos, but the exterior suggests poor condition.	Major	$15,000–50,000
kitchen · No kitchen is visible in the photos, but the exterior suggests poor condition.	Major	$15,000–50,000
systems · No systems are visible in the photos, but the exterior suggests poor condition.	Major	$15,000–50,000
windows · No windows are visible in the photos, but the exterior suggests poor condition.	Major	$15,000–50,000
foundation/structure · No foundation or structure is visible in the photos, but the exterior suggests poor condition.	Major	$15,000–50,000
HVAC/mechanicals · No HVAC or mechanicals are visible in the photos, but the exterior suggests poor condition.	Major	$15,000–50,000
landscaping · Sparse and unmaintained appearance, no visible curb appeal features.	Major	$15,000–50,000
Total estimated repair cost · 11 items		$165,000–550,000

Value-add ROI direction

• Both landscaping and curb appeal — Improving the landscaping and curb appeal would enhance both the resale and rental value. ↑
• Both exterior repairs and painting — Repairing and repainting the exterior would significantly improve the home's appearance and value. ↑
• Both roof replacement — Replacing the roof would address a major issue and improve the home's overall condition. ↑
• Both interior repairs and painting — Repairing and repainting the interior would improve the home's condition and appearance. ↑
• Both bathroom and kitchen updates — Updating the bathrooms and kitchen would improve the home's functionality and appeal. ↑
• Both HVAC and mechanicals — Upgrading the HVAC and mechanicals would improve the home's comfort and energy efficiency. ↑
• Both landscaping and curb appeal — Improving the landscaping and curb appeal would enhance both the resale and rental value. ↑

ⓘ 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: 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
• 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

2 events — show timeline

• 2026-03-25 Pending — Hive MLS
• 2026-03-24 Listed $355,800 Hive MLS