105 Constitution Ct · Broad Creek, NC 28570

$366,200

3 bd · 2.0 ba · 1,534 sqft · SingleFamily · 58 Days on market

Built 2026 Good condition 10,019 sqft lot Est $351k · 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 +5.6/15.0
• Schools +5.1/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The single story Molly is apart 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 bedroom is separate from the secondary bedrooms, overlooks the backyard, and features a large walk-in closet. Community standards for this plan includes a natural gas fireplace and a walk-in shower.

Key facts

• Corner pantry
• Center eat at island
• Walk-in shower

Tags

• GREAT ROOM
• CORNER PANTRY
• CENTER EAT AT ISLAND
• LARGE WALK-IN CLOSET
• NATURAL GAS FIREPLACE
• WALK-IN SHOWER

Property features AI

Finance

• Other: Subdivision: Heritage Pointe; Lot dimensions approximately 125 x 80 x 125 x 80 (0.23 acres); Zoned R
• HOA & community: Homeowners association with annual fee of $325 (approximately $27.08/month); Association provides management services

Exterior

• Parking: 2 total parking spaces; Attached 2-car garage with front-facing garage door; Concrete driveway; Garage door opener
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas connected; Water connected; Sewer connected; Electric service connected
• Home design: Single-family residence; One-level / single-story; Entry level is ground floor; New construction; Facing information not provided
• Construction: Built with vinyl siding and stone veneer over frame construction; Slab foundation; Shingle roof
• Exterior features: Covered rear porch; Paved road access; Street lights in the community; Has view

Interior

• Kitchen: Electric oven; Electric range; Dishwasher; Microwave; Disposal; Kitchen island; Pantry; Tankless water heater; Gas water heater
• Bedrooms: Master on main
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Accessible full bath
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Master suite on the main floor; Walk-in closet(s); Vaulted ceilings; Tray ceiling(s); Kitchen island; Ceiling fan(s); Pantry; Insulated windows; Gas log fireplace; Smoke detector(s); Accessible full bathroom; Ventilation system for improved indoor air quality; Energy-efficient lighting and thermostat
• Laundry & utility: Laundry room with washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $366k. Condition is rated good.

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 ($13k rent vs $366k).
• Recommended offer: $355k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.4% 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 $12,542/mo this rent would consume 214% 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 $3k 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 $103k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($355k) is reasonable based on typical stale-listing flexibility.

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 $355,214 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 3.42% ✓
• Cap rate: 30.38%
• Cash-on-cash: 86.02%
• DSCR: 4.83
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $351,286
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Guthrie Dr	0.24mi	3/2.0	1,497 (-2%)	5mo	$374,500	$250	80
202 Jones Ridge Ln	0.44mi	3/2.0	1,475 (-4%)	8mo	$350,000	$237	66
114 Dixon Pond Dr Lot 104	0.34mi	3/2.0	1,475 (-4%)	18mo	$355,190	$241	62
270 Jones Ridge Ln	0.47mi	3/2.0	1,618 (+6%)	8mo	$375,000	$232	62
112 Dixon Pond Dr Lot 103	0.34mi	3/2.0	1,618 (+6%)	18mo	$366,999	$227	60
214 Jones Ridge Ln Lot 88	0.48mi	3/2.0	1,475 (-4%)	14mo	$339,999	$231	59
199 Jones Ridge Ln Lot 93	0.42mi	3/2.0	1,618 (+6%)	18mo	$369,990	$229	56
227 Jones Ridge Ln	0.50mi	4/2.0 (+1)	1,705 (+11%)	3mo	$377,000	$221	51
234 Jones Ridge Ln Lot 76	0.48mi	3/2.0	1,618 (+6%)	21mo	$361,490	$223	51
129 Ballantine Grove Ln	0.38mi	3/2.0	1,760 (+15%)	11mo	$387,000	$220	48
111 Whitewater Cv	0.42mi	3/2.0	1,733 (+13%)	13mo	$389,900	$225	48
270 Jones Ridge Ln Lot 66	0.52mi	3/2.0	1,618 (+6%)	24mo	$360,490	$223	47

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: 86.5%
• Equity multiple: 4.99×
• Total profit: $408,998
• Equity at exit: $54,602

10-year hold

• IRR: 89.6%
• Equity multiple: 10.36×
• Total profit: $959,780
• Equity at exit: $31,662

Cash invested: $102,536 (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: $12,542 medium
• Mortgage (P&I): −$1,920
• Tax est. 1.5%: −$458 /mo · $5,493/yr
• Insurance: −$153
• HOA: −$27
• Vacancy / Maint / Mgmt: −$2,634
• Net cashflow: $7,350

Break-even live

Break-even rent $3,238

Max offer price $366,200

Occupancy floor 36%

Sensitivity live

Price	-10% $7,603	-5% $7,477	+0% $7,350	+5% $7,224	+10% $7,097
Rent	-10% $6,359	-5% $6,855	+0% $7,350	+5% $7,846	+10% $8,341
Rate	-1.0pp $7,535	-0.5pp $7,443	base $7,350	+0.5pp $7,255	+1.0pp $7,159

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: $91,550
• Closing costs: $10,986
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $27 · $324/yr
• Likely covers: gas

Listing history 17 events

1. 2026-06-19
   days on market $366,200 Active 58 DOM
2. 2026-06-18
   days on market $366,200 Active 57 DOM
3. 2026-06-17
   days on market $366,200 Active 56 DOM
4. 2026-06-16
   days on market $366,200 Active 55 DOM
5. 2026-06-15
   days on market $366,200 Active 54 DOM
6. 2026-06-14
   days on market $366,200 Active 52 DOM
7. 2026-06-12
   days on market $366,200 Active 51 DOM
8. 2026-06-09
   days on market $366,200 Active 48 DOM
9. 2026-06-08
   days on market $366,200 Active 47 DOM
10. 2026-06-07
    days on market $366,200 Active 46 DOM
11. 2026-06-05
    days on market $366,200 Active 43 DOM
12. 2026-06-03
    days on market $366,200 Active 42 DOM
13. 2026-06-02
    days on market $366,200 Active 41 DOM
14. 2026-06-01
    days on market $366,200 Active 40 DOM
15. 2026-05-31
    days on market $366,200 Active 39 DOM
16. 2026-05-30
    days on market $366,200 Active 38 DOM
17. 2026-04-22
    listed $366,200 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: $150,499
• − Mortgage interest: −$20,513
• − Property taxes: −$5,493
• − Insurance: −$1,831
• − Repairs & maintenance: −$12,040
• − Management: −$12,040
• − HOA: −$324
• − Depreciation: −$10,653
• Taxable income: $87,605
• Est. tax owed @ 24.0%: −$21,025
• After-tax cash flow: $67,176/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 · 4 photos

Good 75/100 Cosmetic rehab

This single-story home is in good condition with a well-maintained exterior and interior. It offers a spacious layout with a split-bedroom design and a natural gas fireplace. The home is ready for minor updates to enhance its curb appeal and interior aesthetics, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters.
• Both Landscaping improvements — A well-maintained lawn and landscaping can significantly improve the home's curb appeal and increase its value.
• Resale Interior updates — Updating the interior with modern fixtures and finishes can attract more buyers and increase the home's resale value.
• Resale Kitchen and bathroom updates — Updating the kitchen and bathrooms with modern appliances and fixtures can increase the home's resale value and attract more buyers.
• Rental HVAC and mechanical system maintenance — Maintaining the HVAC and mechanical systems can ensure the home is comfortable and energy-efficient, making it more attractive to renters.
• Both Landscaping and curb appeal — A well-maintained lawn and landscaping can significantly improve the home's curb appeal and increase its value, both for resale and rental purposes.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — A well-maintained lawn and landscaping can significantly improve the home's curb appeal and increase its value. ↑
• Resale Interior updates — Updating the interior with modern fixtures and finishes can attract more buyers and increase the home's resale value. ↑
• Resale Kitchen and bathroom updates — Updating the kitchen and bathrooms with modern appliances and fixtures can increase the home's resale value and attract more buyers. ↑
• Rental HVAC and mechanical system maintenance — Maintaining the HVAC and mechanical systems can ensure the home is comfortable and energy-efficient, making it more attractive to renters. ↑
• Both Landscaping and curb appeal — A well-maintained lawn and landscaping can significantly improve the home's curb appeal and increase its value, both for resale and rental purposes. ↑

ⓘ 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
• 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

1 event — show timeline

• 2026-04-22 Listed $366,200 Hive MLS