100 Cumberland St · Bogue, NC 28570

$724,900

4 bd · 3.5 ba · 2,518 sqft · Land

Built 2026 0.34 ac lot $143/mo HOA · 1% of rent

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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 +7.5/15.0
• Schools +5.1/10.0
• 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

Great Cul-de-sac homesite to build your home in the beautiful, gated community of Cannonsgate at Bogue Sound! Lot size provides different options to build the house you want! Cannonsgate is all about water with ponds, small lakes, and canal to the big waters of the Intracoastal Waterway. Amenities include Manor House, swimming pool, tennis courts, playground and sound pier and boat ramp! The community boasts southern Charleston style complementing the beautiful grounds and adding an appealing streetscape. Cannonsgate, located conveniently on the Hwy 24 corridor, is close to our Crystal Coast beaches and our coastal towns.

Key facts

• 0.34 acre lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath land listed at $725k.

Deal economics

• At list price, monthly cash flow is $7k ($79k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $725k).

Location & tenants

• Location reads 65/100 on livability (#311 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living 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: Bogue Sound Elementary (math 63% / reading 63%, grade B, #168 of 1,410 statewide, top 12%, 467 students, 99% FRL); Broad Creek Middle (math 63% / reading 68%, grade A-, #28 of 475 statewide, top 6%, 710 students, 100% FRL); Croatan High (math 82% / reading 78%, grade A, #73 of 535 statewide, top 13%, 974 students, 26% FRL) — zoned schools average 75% FRL vs 39% district-wide (36 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 $14,897/mo this rent would consume 255% 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 $5k of loan paydown is wiped out by about $22k 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 $203k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 8y 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 $28k; list at $725k implies a 2489% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $724,900

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. 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?
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: 2.06% ✓
• Cap rate: 17.24%
• Cash-on-cash: 39.11%
• DSCR: 2.74
• GRM: 4.1

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: 35.4%
• Equity multiple: 2.50×
• Total profit: $304,218
• Equity at exit: $108,085

10-year hold

• IRR: 42.1%
• Equity multiple: 4.98×
• Total profit: $808,759
• Equity at exit: $62,676

Cash invested: $202,972 (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: 4.1×

Monthly cashflow live

• Estimated rent: $14,897 medium
• Mortgage (P&I): −$3,801
• Tax est. 1.5%: −$906 /mo · $10,874/yr
• Insurance: −$302
• HOA: −$143
• Vacancy / Maint / Mgmt: −$3,128
• Net cashflow: $6,616

Break-even live

Break-even rent $6,522

Max offer price $724,900

Occupancy floor 51%

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: $181,225
• Closing costs: $21,747
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $143 · $1,716/yr
• Likely covers: waterlandscapingpoolsecurity

Listing history 17 events

1. 2026-02-25
   historical
2. 2026-02-12
   listed $724,900 Active
3. 2023-06-28
   soldstatus $28,000 Closed 633-char remark

   Show marketing remark (633 chars)

   Great Cul-de-sac homesite to build your home in the beautiful, gated community of Cannonsgate at Bogue Sound! Lot size provides different options to build the house you want! Cannonsgate is all about water with ponds, small lakes, and canal to the big waters of the Intracoastal Waterway. Amenities include Manor House, swimming pool, tennis courts, playground and sound pier and boat ramp! The community boasts southern Charleston style complementing the beautiful grounds and adding an appealing streetscape. Cannonsgate, located conveniently on the Hwy 24 corridor, is close to our Crystal Coast beaches and our coastal towns.

4. 2023-06-28
   soldstatus $28,000

   Show marketing remark (633 chars)

   Great Cul-de-sac homesite to build your home in the beautiful, gated community of Cannonsgate at Bogue Sound! Lot size provides different options to build the house you want! Cannonsgate is all about water with ponds, small lakes, and canal to the big waters of the Intracoastal Waterway. Amenities include Manor House, swimming pool, tennis courts, playground and sound pier and boat ramp! The community boasts southern Charleston style complementing the beautiful grounds and adding an appealing streetscape. Cannonsgate, located conveniently on the Hwy 24 corridor, is close to our Crystal Coast beaches and our coastal towns.

5. 2023-06-05
   status Pending 633-char remark

   Show marketing remark (633 chars)

   Great Cul-de-sac homesite to build your home in the beautiful, gated community of Cannonsgate at Bogue Sound! Lot size provides different options to build the house you want! Cannonsgate is all about water with ponds, small lakes, and canal to the big waters of the Intracoastal Waterway. Amenities include Manor House, swimming pool, tennis courts, playground and sound pier and boat ramp! The community boasts southern Charleston style complementing the beautiful grounds and adding an appealing streetscape. Cannonsgate, located conveniently on the Hwy 24 corridor, is close to our Crystal Coast beaches and our coastal towns.

6. 2023-04-26
   price $34,900 633-char remark

   Show marketing remark (633 chars)

   Great Cul-de-sac homesite to build your home in the beautiful, gated community of Cannonsgate at Bogue Sound! Lot size provides different options to build the house you want! Cannonsgate is all about water with ponds, small lakes, and canal to the big waters of the Intracoastal Waterway. Amenities include Manor House, swimming pool, tennis courts, playground and sound pier and boat ramp! The community boasts southern Charleston style complementing the beautiful grounds and adding an appealing streetscape. Cannonsgate, located conveniently on the Hwy 24 corridor, is close to our Crystal Coast beaches and our coastal towns.

7. 2022-08-04
   price $38,900 633-char remark

   Show marketing remark (633 chars)

   Great Cul-de-sac homesite to build your home in the beautiful, gated community of Cannonsgate at Bogue Sound! Lot size provides different options to build the house you want! Cannonsgate is all about water with ponds, small lakes, and canal to the big waters of the Intracoastal Waterway. Amenities include Manor House, swimming pool, tennis courts, playground and sound pier and boat ramp! The community boasts southern Charleston style complementing the beautiful grounds and adding an appealing streetscape. Cannonsgate, located conveniently on the Hwy 24 corridor, is close to our Crystal Coast beaches and our coastal towns.

8. 2022-04-20
   listed $39,900 Active 633-char remark

   Show marketing remark (633 chars)

   Great Cul-de-sac homesite to build your home in the beautiful, gated community of Cannonsgate at Bogue Sound! Lot size provides different options to build the house you want! Cannonsgate is all about water with ponds, small lakes, and canal to the big waters of the Intracoastal Waterway. Amenities include Manor House, swimming pool, tennis courts, playground and sound pier and boat ramp! The community boasts southern Charleston style complementing the beautiful grounds and adding an appealing streetscape. Cannonsgate, located conveniently on the Hwy 24 corridor, is close to our Crystal Coast beaches and our coastal towns.

9. 2021-08-31
   historical
10. 2021-06-02
    listed $22,000
11. 2020-05-31
    historical
12. 2020-02-10
    listed $16,500
13. 2019-01-17
    historical
14. 2018-07-17
    listed $25,000
15. 2018-07-08
    historical
16. 2018-01-11
    listed $28,000
17. 2007-05-30
    soldstatus $185,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°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: $178,762
• − Mortgage interest: −$40,606
• − Property taxes: −$10,874
• − Insurance: −$3,624
• − Repairs & maintenance: −$14,301
• − Management: −$14,301
• − HOA: −$1,716
• − Depreciation: −$21,088
• Taxable income: $72,253
• Est. tax owed @ 24.0%: −$17,341
• After-tax cash flow: $62,050/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 — Bogue

• Score: 65/100
• State rank: #311
• US rank: #13024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• 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

+291.8% since first listed

17 events — show timeline

• 2026-02-25 Listing Removed — Hive MLS
• 2026-02-12 Listed $724,900 Hive MLS
• 2023-06-28 Sold (Public Records) $28,000 Public Records
• 2023-06-28 Sold (MLS) $28,000 Hive MLS
• 2023-06-05 Pending — Hive MLS
• 2023-04-26 Price Changed $34,900 Hive MLS
• 2022-08-04 Price Changed $38,900 Hive MLS
• 2022-04-20 Listed $39,900 Hive MLS
• 2021-08-31 Listing Removed — Hive MLS
• 2021-06-02 Listed $22,000 Hive MLS
• 2020-05-31 Listing Removed — Hive MLS
• 2020-02-10 Listed $16,500 Hive MLS
• 2019-01-17 Listing Removed — Hive MLS
• 2018-07-17 Listed $25,000 Hive MLS
• 2018-07-08 Listing Removed — Hive MLS
• 2018-01-11 Listed $28,000 Hive MLS
• 2007-05-30 Sold (Public Records) $185,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $145 · +51.6% YoY. Source: county tax records.