1119 King Eider Way · Leland, NC 28479

$364,900

4 bd · 2.0 ba · 1,768 sqft · SingleFamily public records · 22 Days on market

Built 2025 Good condition 7,187 sqft lot Est $400k · 9% under $90/mo HOA · 3% of rent

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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 +14.9/30.0
• ARV discount +11.4/15.0
• Appreciation +5.6/10.0
• DSCR +4.6/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0

Listing remarks

Welcome to Mallory Creek where comfort, style, and coastal charm come together. This beautifully maintained home offers an inviting open-concept layout filled with natural light, perfect for both everyday living and entertaining. The spacious kitchen features modern appliances, ample cabinetry, and a convenient breakfast bar that flows seamlessly into the main living area. The primary suite provides a relaxing retreat with a generous walk-in closet and a well-appointed en-suite bath. 3 additional bedrooms offer flexibility for guests, a home office, or hobbies. Step outside to enjoy a premium lot with private backyard ideal for outdoor dining, gardening, or simply unwinding after a long day

Key facts

• 7,187 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Zoning: Le-Pud
• HOA & community: Homeowners association with an annual fee of $1,080 (approx. $90/month); Community pool; Association amenities include a basketball court and clubhouse

Exterior

• Parking: Attached garage with 2 garage spaces; Garage faces front; Garage door opener; Total 2 parking spaces
• Utilities: Sewer connected; Water connected
• Home design: Single-family residence; One-story entry (entry level 1); One level
• Construction: Vinyl siding with frame construction; Shingle roof; Slab foundation; Built as a residential single-family home
• Exterior features: Covered patio; Patio; Front porch; Has a view; Paved road access; Road frontage on a city street and state road

Interior

• Kitchen: Kitchen island; Pantry
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Heat pump heating and cooling; Electric heating
• Interior features: Walk-in closets; Kitchen island; Pantry; Window coverings

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $365k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (17.7% below list).
• Recommended offer: $300k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.2% in Leland — 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 68/100 on livability (#177 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, 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: Town Creek Elementary (math 50% / reading 53%, grade C-, #392 of 1,410 statewide, top 28%, 654 students, 100% FRL); Leland Middle (math 26% / reading 36%, grade F, #326 of 475 statewide, top 69%, 780 students, 100% FRL); North Brunswick High (math 57% / reading 49%, grade C-, #281 of 535 statewide, top 53%, 1,450 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: 188 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($3k loan paydown + $4k appreciation (1.2% local appreciation)).
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $102k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($359k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $300,367 (17.7% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.82% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.25%
• DSCR: 1.06
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $399,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3514 Wigeon Way	0.05mi	4/2.0	1,791 (+1%)	1mo	$360,000	$201	95
1168 Lillibridge Dr	0.21mi	3/2.0 (-1)	1,729 (-2%)	0mo	$442,500	$256	81
5229 National Garden Trl	0.19mi	3/2.5 (-1)	1,912 (+8%)	2mo	$470,000	$246	69
1122 Sandy Heights Loop (lot 72)	0.57mi	4/2.0	1,774 (+0%)	6mo	$333,249	$188	68
1148 Sandy Heights Loop, Lot 68 Pl	0.65mi	4/2.0	1,774 (+0%)	6mo	$349,999	$197	65
2691 Silverweed Ct #127	0.41mi	3/2.0 (-1)	1,858 (+5%)	6mo	$485,000	$261	63
6488 Pinnacle Pt	0.34mi	3/2.0 (-1)	1,507 (-15%)	2mo	$335,000	$222	53
2699 Silverweed Ct	0.40mi	3/2.5 (-1)	1,987 (+12%)	2mo	$450,000	$226	52
7607 Gorse Dr	0.50mi	3/2.0 (-1)	1,969 (+11%)	1mo	$502,185	$255	52
9638 Large Oak Ct Lot 71	0.61mi	3/2.0 (-1)	1,618 (-8%)	1mo	$347,500	$215	51
2123 Talmage Dr	0.67mi	3/2.0 (-1)	1,974 (+12%)	1mo	$431,000	$218	43
2129 Talmage Dr	0.65mi	3/2.0 (-1)	2,001 (+13%)	4mo	$452,500	$226	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.17×
• Total profit: $17,654
• Equity at exit: $129,019

10-year hold

• IRR: 7.6%
• Equity multiple: 1.95×
• Total profit: $97,347
• Equity at exit: $174,948

Cash invested: $102,172 (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 28479

• Home prices YoY: 0.8%
• Active inventory: 188
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $3,004 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$111 /mo · $1,334/yr
• Insurance: −$152
• HOA: −$90
• Vacancy / Maint / Mgmt: −$631
• Net cashflow: $106

Break-even live

Break-even rent $2,869

Max offer price $364,900

Occupancy floor 91%

Sensitivity live

Price	-10% $313	-5% $209	+0% $106	+5% $3	+10% $-100
Rent	-10% $-131	-5% $-13	+0% $106	+5% $225	+10% $343
Rate	-1.0pp $290	-0.5pp $199	base $106	+0.5pp $12	+1.0pp $-85

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: $91,225
• Closing costs: $10,947
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4756 Scaup Way Winnabow, NC	3.0	2.0	1618	$3,500	$2.16	14d	1	0.27mi
136 N Palm Dr Winnabow, NC	3.0	2.0	1235	$1,850	$1.50	24d	1	1.39mi
136 N Palm Dr Winnabow, NC	3.0	2.0	1235	$1,850	$1.50	14d	1	1.39mi
2108 Silty Soil Ct Leland, NC	2.0–3.0	2.5	1442	$2,074	$1.44	14d	23	1.48mi

HOA detail

• Monthly dues: $90 · $1,080/yr

Listing history 18 events

1. 2026-06-18
   days on market $364,900 Active 22 DOM
2. 2026-06-17
   days on market $364,900 Active 21 DOM
3. 2026-06-16
   days on market $364,900 Active 20 DOM
4. 2026-06-15
   days on market $364,900 Active 19 DOM
5. 2026-06-14
   days on market $364,900 Active 17 DOM
6. 2026-06-13
   days on market $364,900 Active 16 DOM
7. 2026-06-10
   days on market $364,900 Active 14 DOM
8. 2026-06-09
   days on market $364,900 Active 13 DOM
9. 2026-06-09
   price $364,900 Active 12 DOM
10. 2026-06-08
    days on market $369,900 Active 12 DOM
11. 2026-06-07
    days on market $369,900 Active 11 DOM
12. 2026-06-05
    days on market $369,900 Active 8 DOM
13. 2026-06-03
    days on market $369,900 Active 7 DOM
14. 2026-06-02
    days on market $369,900 Active 6 DOM
15. 2026-06-01
    days on market $369,900 Active 5 DOM
16. 2026-05-31
    days on market $369,900 Active 4 DOM
17. 2026-05-30
    days on market $369,900 Active 3 DOM
18. 2026-05-27
    listed $369,900 Active

ⓘ 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: $1,334 · $111/mo
• Projected year-2 tax: $2,992 · $249/mo
• Expected delta: +$1,658/yr (+$138/mo · 124.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 18 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: $36,044
• − Mortgage interest: −$20,440
• − Property taxes: −$1,334
• − Insurance: −$1,824
• − Repairs & maintenance: −$2,884
• − Management: −$2,884
• − HOA: −$1,080
• − Depreciation: −$10,615
• Taxable loss: −$5,017
• Est. tax savings @ 24.0%: +$1,204
• After-tax cash flow: $2,478/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

Good 80/100 None rehab

This well-maintained single-family home in Mallory Creek offers a good condition with modern amenities and a spacious layout. It is move-in ready with minor maintenance items to address.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Resale Paint trim — Improves home's appearance
• Both Replace carpet with hardwood — Increases both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Resale Paint trim — Improves home's appearance ↑
• Both Replace carpet with hardwood — Increases both 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: 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 — Leland

• Score: 68/100
• State rank: #177
• US rank: #9158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leland, NC
• City population: 46,933
• Population (ZIP): 6,971

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 (72%)
• Race & ethnicity: White 72% Black 13% Two or more races 13% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Slovak 2% Italian 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 3%

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: ▲ 1.23%
• Current HPI: 159.4516
• 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

1 event — show timeline

• 2026-05-27 Listed $369,900 Hive MLS

Property tax history

+3073.3%/yr

Latest (2025): $1,334 · +3073.3% YoY. Source: county tax records.