1727 Northwind Dr SW · Ocean Isle Beach, NC 28469

$138,000

2 bd · 1.5 ba · 868 sqft · Manufactured · 246 Days on market

Built 1983 0.42 ac lot Est $162k · 15% under

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Why this score? — see what drove the C 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 +21.1/30.0
• ARV discount +14.2/15.0
• DSCR +6.7/10.0
• 1% rule +5.6/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HANDYMAN SPECIAL, 2 BEDROOM MOBILE HOME WITH EXTRA LOT , READY FOR TLC. CLOSE TO OCEAN ISLE BEACH, WIRED OUTBUILDING. VACANT AND READY . TAKE OCEAN ISLE BEACH RD FROM # 17 TO OCEAN AIRE ESTATES, ACROSS FROM OCEAN ISLE GOLF COURSE. LAST STREET IN DEV.

Key facts

• Double lot
• Three sheds
• No hoa

Tags

• DOUBLE LOT
• NO HOA
• THREE SHEDS

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: On-site parking
• Utilities: Public water; Septic tank sewer; Other utilities
• Home design: Manufactured home (residential); Single-story, entry level 1
• Construction: Aluminum siding and frame construction; Metal roof; Built on crawl space
• Exterior features: Porch with screened area; Shed(s) on the property; Has a view; Unimproved road frontage

Interior

• Kitchen: Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Electric heating with heat pump
• Interior features: Washer, Dryer, Refrigerator; Crawl space basement; Total of 4 rooms
• Laundry & utility: Laundry in hall; Washer, Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $138k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $138k).
• Recommended offer: $121k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 1.4% in Ocean Isle 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 62/100 on livability (#454 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+; Watch: health & safety D, amenities F, commute 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: Union Elementary (math 83% / reading 76%, grade A, #24 of 1,410 statewide, top 2%, 571 students, 100% 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.
• Zoned-school proficiency averages 59% at this address vs 46% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Brunswick County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 536 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 $954 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 246 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $48k; list at $138k implies a 188% 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; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 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. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.11%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $162,316
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1513 Erin Pl SW	0.32mi	2/2.0	924 (+6%)	23mo	$85,000	$92	53
7077 Channel ll SW	0.72mi	2/2.0	908 (+5%)	4mo	$170,000	$187	53

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-9,813
• Equity at exit: $20,576

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $7,674
• Equity at exit: $11,932

Cash invested: $38,640 (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 28469

• Active inventory: 536
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,456 medium
• Mortgage (P&I): −$724
• Tax est. 1.5%: −$172 /mo · $2,070/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $197

Break-even live

Break-even rent $1,207

Max offer price $138,000

Occupancy floor 81%

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $138,000 Active 246 DOM
2. 2026-06-17
   days on market $138,000 Active 245 DOM
3. 2026-06-16
   days on market $138,000 Active 244 DOM
4. 2026-06-15
   days on market $138,000 Active 243 DOM
5. 2026-06-14
   days on market $138,000 Active 241 DOM
6. 2026-06-13
   days on market $138,000 Active 240 DOM
7. 2026-06-10
   days on market $138,000 Active 238 DOM
8. 2026-06-09
   days on market $138,000 Active 237 DOM
9. 2026-06-08
   days on market $138,000 Active 236 DOM
10. 2026-06-07
    days on market $138,000 Active 235 DOM
11. 2026-06-05
    days on market $138,000 Active 232 DOM
12. 2026-06-03
    days on market $138,000 Active 231 DOM
13. 2026-06-02
    days on market $138,000 Active 230 DOM
14. 2026-06-01
    days on market $138,000 Active 229 DOM
15. 2026-05-31
    days on market $138,000 Active 228 DOM
16. 2026-05-30
    days on market $138,000 Active 227 DOM
17. 2026-04-20
    price $138,000
18. 2026-04-06
    status Active
19. 2026-04-06
    price $140,000
20. 2026-03-30
    historical
21. 2025-10-08
    listed $144,500 Active
22. 2005-03-23
    soldstatus $48,000
23. 2005-03-22
    soldstatus $47,500 250-char remark

    Show marketing remark (250 chars)

    HANDYMAN SPECIAL, 2 BEDROOM MOBILE HOME WITH EXTRA LOT , READY FOR TLC. CLOSE TO OCEAN ISLE BEACH, WIRED OUTBUILDING. VACANT AND READY . TAKE OCEAN ISLE BEACH RD FROM # 17 TO OCEAN AIRE ESTATES, ACROSS FROM OCEAN ISLE GOLF COURSE. LAST STREET IN DEV.

24. 2004-11-03
    listed $54,500 250-char remark

    Show marketing remark (250 chars)

    HANDYMAN SPECIAL, 2 BEDROOM MOBILE HOME WITH EXTRA LOT , READY FOR TLC. CLOSE TO OCEAN ISLE BEACH, WIRED OUTBUILDING. VACANT AND READY . TAKE OCEAN ISLE BEACH RD FROM # 17 TO OCEAN AIRE ESTATES, ACROSS FROM OCEAN ISLE GOLF COURSE. LAST STREET IN DEV.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $17,474
• − Mortgage interest: −$7,730
• − Property taxes: −$2,070
• − Insurance: −$690
• − Repairs & maintenance: −$1,398
• − Management: −$1,398
• − Depreciation: −$4,015
• Taxable income: $173
• Est. tax owed @ 24.0%: −$42
• After-tax cash flow: $2,319/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 — Ocean Isle Beach

• Score: 62/100
• State rank: #454
• US rank: #16695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,364

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Black 2% Two or more races 1%
• Common ancestry: Romanian 3% Lithuanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 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: ▼ -270.51%
• Current HPI: 143.229
• 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

+153.2% since first listed

8 events — show timeline

• 2026-04-20 Price Changed $138,000 Hive MLS
• 2026-04-06 Relisted — Hive MLS
• 2026-04-06 Price Changed $140,000 Hive MLS
• 2026-03-30 Listing Removed — Hive MLS
• 2025-10-08 Listed $144,500 Hive MLS
• 2005-03-23 Sold (Public Records) $48,000 Public Records
• 2005-03-22 Sold (MLS) $47,500 CCAR
• 2004-11-03 Listed $54,500 CCAR

Property tax history

+2.1%/yr

Latest (2025): $201 · -0.1% YoY. Source: county tax records.