309 K Ave Unit A · Kure Beach, NC 28449

$925,000

4 bd · 3.5 ba · 2,304 sqft · Townhouse public records · 89 Days on market

Built 2017 1,089 sqft lot Est $984k · 6% under

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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
• ARV discount +10.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• 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

Welcome to your dream beach house! Featuring ocean views, rental history, and easy access to all levels with an elevator! There are no lack of upgrades in this 4 bedroom townhouse; hickory wood floors, tankless water heater, custom carpentry and a private one bedroom suite with its own entrance that was previously used as an Airbnb, just to name a few. This unique reverse floor plan lets you enjoy the ocean views while you spend family time in the living room or whip up your signature dish in the gourmet kitchen. The master suite features custom tiled showers and more. Whether you're looking for your home on the island, a family vacation home, or an income producing property this is the one! The garage is ultra clean and is currently being used as a first floor game room. Grilling and relaxing in the fenced yard is the perfect end to a summer day. Located between 3rd and 4th Avenue in Kure Beach the location is ideal. Walk to some of Kure Beach's hot spots including Kure Beach Pier, restaurants and the beach.

Key facts

• Fenced yard
• 2 garage spots
• Built 2017

Tags

• PRIVATE ONE-BEDROOM SUITE
• ELEVATOR SERVICING ALL LEVELS
• FENCED YARD
• LOCATED BY KURE BEACH PIER

Property features AI

Exterior

• Parking: Attached 2-car garage; Total 2 parking spaces; Concrete and paved parking
• Utilities: Public water; Sewer connected; Water connected
• Home design: Townhouse; Three or more levels; Residential property
• Construction: Built with fiber cement siding; Metal roof; Slab foundation
• Exterior features: Balcony; Covered patio; Patio; Back yard with vinyl fencing; Interior lot; Has a view

Interior

• Kitchen: Gas cooktop; Dishwasher; Refrigerator; Kitchen island; Eat-in kitchen
• Flooring: Concrete; Tile; Wood
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Heat pump and electric heating; Central air conditioning
• Interior features: Walk-in closets; Vaulted and high ceilings; Kitchen island; Elevator; Ceiling fans; Eat-in kitchen; Window coverings; Furnished
• Laundry & utility: Washer and dryer; Laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath townhouse listed at $925k.

Deal economics

• At list price, monthly cash flow is $13k ($151k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $925k).
• Recommended offer: $870k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.6% vs local median 2.1% in Kure 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 65/100 on livability (#303 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: health & safety D, amenities F, commute F.
• New Hanover County Schools (urban): math 48% / reading 53% proficiency, ranked #61 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carolina Beach Elementary (math 55% / reading 59%, grade C+, #249 of 1,410 statewide, top 20%, 431 students, 32% FRL); Charles P Murray Middle (math 59% / reading 59%, grade B, #54 of 475 statewide, top 12%, 882 students, 34% FRL); Eugene Ashley High (math 48% / reading 68%, grade C, #243 of 535 statewide, top 46%, 1,975 students, 34% FRL).
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• New Hanover County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $259k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($870k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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.

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 $869,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% 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. Schools are D-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: 2.59% ✓
• Cap rate: 22.60%
• Cash-on-cash: 58.23%
• DSCR: 3.59
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $983,808
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 Fort Fisher Blvd S Unit B	0.26mi	4/3.0	2,435 (+6%)	6mo	$1,500,000	$616	71
401 Fort Fisher Blvd S Unit A	0.32mi	4/4.0	2,216 (-4%)	12mo	$1,100,000	$496	67
221 Atlantic Ave Unit A	0.22mi	4/4.0	2,500 (+8%)	10mo	$1,426,500	$571	65
302 N 3rd Ave Unit A	0.27mi	4/3.5	2,412 (+5%)	19mo	$660,000	$274	64
305 Kure Village Way	0.71mi	4/3.5	2,253 (-2%)	0mo	$962,000	$427	63
302 N 3rd Ave Unit B	0.27mi	5/3.5 (+1)	2,428 (+5%)	19mo	$685,000	$282	58
605 Fort Fisher Blvd S Unit A	0.55mi	4/3.5	2,479 (+8%)	6mo	$2,375,000	$958	57
629 S Fourth Ave Unit A	0.60mi	3/3.5 (-1)	2,044 (-11%)	1mo	$685,000	$335	47
200 Laurel Ln #14	0.70mi	4/3.5	2,250 (-2%)	24mo	$1,015,000	$451	44
636 Settlers Ln	0.67mi	3/2.5 (-1)	2,101 (-9%)	5mo	$655,000	$312	41
653 Settlers Ln	0.69mi	4/4.5	2,400 (+4%)	22mo	$585,000	$244	38

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: 56.8%
• Equity multiple: 3.51×
• Total profit: $650,905
• Equity at exit: $137,921

10-year hold

• IRR: 61.7%
• Equity multiple: 7.17×
• Total profit: $1,598,953
• Equity at exit: $79,977

Cash invested: $259,000 (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 28449

• Active inventory: 92
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $24,000 medium
• Mortgage (P&I): −$4,851
• Tax est. 1.5%: −$1,156 /mo · $13,875/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,040
• Net cashflow: $12,568

Break-even live

Break-even rent $8,092

Max offer price $925,000

Occupancy floor 43%

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1622 Swordfish Ln #1 Carolina Beach, NC	4.0	3.5	2476	$24,000	$9.69	21d	1	1.19mi

Listing history 13 events

1. 2026-06-03
   days on market $925,000 Active 89 DOM
2. 2026-06-03
   days on market $925,000 Active 88 DOM
3. 2026-05-31
   days on market $925,000 Active 86 DOM
4. 2026-05-30
   days on market $925,000 Active 85 DOM
5. 2026-03-06
   listed $925,000 Active
6. 2024-06-07
   soldstatus $900,000 Closed 1024-char remark

   Show marketing remark (1024 chars)

   Welcome to your dream beach house! Featuring ocean views, rental history, and easy access to all levels with an elevator! There are no lack of upgrades in this 4 bedroom townhouse; hickory wood floors, tankless water heater, custom carpentry and a private one bedroom suite with its own entrance that was previously used as an Airbnb, just to name a few. This unique reverse floor plan lets you enjoy the ocean views while you spend family time in the living room or whip up your signature dish in the gourmet kitchen. The master suite features custom tiled showers and more. Whether you're looking for your home on the island, a family vacation home, or an income producing property this is the one! The garage is ultra clean and is currently being used as a first floor game room. Grilling and relaxing in the fenced yard is the perfect end to a summer day. Located between 3rd and 4th Avenue in Kure Beach the location is ideal. Walk to some of Kure Beach's hot spots including Kure Beach Pier, restaurants and the beach.

7. 2024-06-07
   soldstatus $990,000

   Show marketing remark (1024 chars)

   Welcome to your dream beach house! Featuring ocean views, rental history, and easy access to all levels with an elevator! There are no lack of upgrades in this 4 bedroom townhouse; hickory wood floors, tankless water heater, custom carpentry and a private one bedroom suite with its own entrance that was previously used as an Airbnb, just to name a few. This unique reverse floor plan lets you enjoy the ocean views while you spend family time in the living room or whip up your signature dish in the gourmet kitchen. The master suite features custom tiled showers and more. Whether you're looking for your home on the island, a family vacation home, or an income producing property this is the one! The garage is ultra clean and is currently being used as a first floor game room. Grilling and relaxing in the fenced yard is the perfect end to a summer day. Located between 3rd and 4th Avenue in Kure Beach the location is ideal. Walk to some of Kure Beach's hot spots including Kure Beach Pier, restaurants and the beach.

8. 2024-05-28
   status Pending 1024-char remark

   Show marketing remark (1024 chars)

   Welcome to your dream beach house! Featuring ocean views, rental history, and easy access to all levels with an elevator! There are no lack of upgrades in this 4 bedroom townhouse; hickory wood floors, tankless water heater, custom carpentry and a private one bedroom suite with its own entrance that was previously used as an Airbnb, just to name a few. This unique reverse floor plan lets you enjoy the ocean views while you spend family time in the living room or whip up your signature dish in the gourmet kitchen. The master suite features custom tiled showers and more. Whether you're looking for your home on the island, a family vacation home, or an income producing property this is the one! The garage is ultra clean and is currently being used as a first floor game room. Grilling and relaxing in the fenced yard is the perfect end to a summer day. Located between 3rd and 4th Avenue in Kure Beach the location is ideal. Walk to some of Kure Beach's hot spots including Kure Beach Pier, restaurants and the beach.

9. 2024-05-19
   price $924,900 1024-char remark

   Show marketing remark (1024 chars)

   Welcome to your dream beach house! Featuring ocean views, rental history, and easy access to all levels with an elevator! There are no lack of upgrades in this 4 bedroom townhouse; hickory wood floors, tankless water heater, custom carpentry and a private one bedroom suite with its own entrance that was previously used as an Airbnb, just to name a few. This unique reverse floor plan lets you enjoy the ocean views while you spend family time in the living room or whip up your signature dish in the gourmet kitchen. The master suite features custom tiled showers and more. Whether you're looking for your home on the island, a family vacation home, or an income producing property this is the one! The garage is ultra clean and is currently being used as a first floor game room. Grilling and relaxing in the fenced yard is the perfect end to a summer day. Located between 3rd and 4th Avenue in Kure Beach the location is ideal. Walk to some of Kure Beach's hot spots including Kure Beach Pier, restaurants and the beach.

10. 2024-04-01
    listed $934,900 Active 1024-char remark

    Show marketing remark (1024 chars)

    Welcome to your dream beach house! Featuring ocean views, rental history, and easy access to all levels with an elevator! There are no lack of upgrades in this 4 bedroom townhouse; hickory wood floors, tankless water heater, custom carpentry and a private one bedroom suite with its own entrance that was previously used as an Airbnb, just to name a few. This unique reverse floor plan lets you enjoy the ocean views while you spend family time in the living room or whip up your signature dish in the gourmet kitchen. The master suite features custom tiled showers and more. Whether you're looking for your home on the island, a family vacation home, or an income producing property this is the one! The garage is ultra clean and is currently being used as a first floor game room. Grilling and relaxing in the fenced yard is the perfect end to a summer day. Located between 3rd and 4th Avenue in Kure Beach the location is ideal. Walk to some of Kure Beach's hot spots including Kure Beach Pier, restaurants and the beach.

11. 2021-10-14
    soldstatus $799,000 942-char remark

    Show marketing remark (942 chars)

    Ocean views! Elevator! Money Maker! Summer rentals currently managed by Carolina Retreats and averaging $40,000 in just the summer season in income. This 4 bedroom townhouse features an abundance of upgrades including hickory wood floors, a hot tub, tankless water heater, custom carpentry and a private one bedroom suite with its own entrance that is currently used as an Airbnb. Featuring a reverse floor plan with your living area and gourmet kitchen on the third level. The master suite features custom tiled showers and more. Whether this is your primary residence or an income producing property this one is sure to please. There is also plenty of storage with a one car garage. The adorable fenced yard is perfect for relaxing in the hot tub or grilling on a summer day. Located between 3rd and 4th Avenue in Kure Beach the location is ideal. Walk to some of Kure Beach's hot spots including Kure Beach Pier, restaurants and the beach.

12. 2021-10-13
    soldstatus $799,000
13. 2021-07-22
    listed $799,000 942-char remark

    Show marketing remark (942 chars)

    Ocean views! Elevator! Money Maker! Summer rentals currently managed by Carolina Retreats and averaging $40,000 in just the summer season in income. This 4 bedroom townhouse features an abundance of upgrades including hickory wood floors, a hot tub, tankless water heater, custom carpentry and a private one bedroom suite with its own entrance that is currently used as an Airbnb. Featuring a reverse floor plan with your living area and gourmet kitchen on the third level. The master suite features custom tiled showers and more. Whether this is your primary residence or an income producing property this one is sure to please. There is also plenty of storage with a one car garage. The adorable fenced yard is perfect for relaxing in the hot tub or grilling on a summer day. Located between 3rd and 4th Avenue in Kure Beach the location is ideal. Walk to some of Kure Beach's hot spots including Kure Beach Pier, restaurants and the beach.

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 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: $288,000
• − Mortgage interest: −$51,814
• − Property taxes: −$13,875
• − Insurance: −$4,625
• − Repairs & maintenance: −$23,040
• − Management: −$23,040
• − Depreciation: −$26,909
• Taxable income: $144,697
• Est. tax owed @ 24.0%: −$34,727
• After-tax cash flow: $116,083/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: New Hanover County Schools
• NCES district ID: 3703330
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $49,406
• Composite: 43.13/100
• National rank: #3081
• State rank: #61 of 178 in NC

Livability — Kure Beach

• Score: 65/100
• State rank: #303
• US rank: #12563

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kure Beach, NC
• Population (ZIP): 2,017

Population outlook (New Hanover County) Hauer SSP2

• Today (2025): 259,517 people
• By 2030: 279,586 · +7.7%
• By 2040: 318,223 · +22.6%
• By 2050: 354,831 · +36.7%
• By 2075: 437,158 · +68.5%
• By 2100: 486,769 · +87.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Romanian 6% Serbian 5% Lithuanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · New Hanover

• 2024 margin: Toss-up / Even · D 49.8% · R 49.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: -1.4pp · 2024: 0.6pp
• All cycles: 2024: D+0.6 2020: D+2.1 2016: R+4.1 2012: R+4.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.31%
• Current HPI: 246.571
• 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

+15.8% since first listed

9 events — show timeline

• 2026-03-06 Listed $925,000 Hive MLS
• 2024-06-07 Sold (Public Records) $990,000 Public Records
• 2024-06-07 Sold (MLS) $900,000 Hive MLS
• 2024-05-28 Pending — Hive MLS
• 2024-05-19 Price Changed $924,900 Hive MLS
• 2024-04-01 Listed $934,900 Hive MLS
• 2021-10-14 Sold (MLS) $799,000 Hive MLS
• 2021-10-13 Sold (Public Records) $799,000 Public Records
• 2021-07-22 Listed $799,000 Hive MLS

Property tax history

+0.0%/yr

Latest (2025): $1,282 · -64.3% YoY. Source: county tax records.