453 Fort Fisher Blvd N · Kure Beach, NC 28449

$875,000

4 bd · 3.0 ba · 2,304 sqft · SingleFamily public records · 16 Days on market

Built 1995 5,663 sqft lot Est $910k · at est. $44/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 +9.2/15.0
• 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

This is the beach home opportunity you've been waiting for!!! Bring your vision to life in this beautiful, SECOND ROW beach home in Kure Beach. Perfect for a primary residence, a second home, or an investment property, this 4-bedroom, 3-bathroom house has low HOA dues, a private beach access and parking reserved for Kure Dunes residents. The public beach access is also just steps away from this great house. The downstairs den, bedroom, and bathroom offer investors double the income potential. Enjoy ocean views and a cooling breeze on the extensive balcony along the front of the home. A fenced-in backyard and community pool make life in this prime location anyone's dream. With Carolina Beach

Key facts

• Community pool
• Downstairs den
• Public beach access

Tags

• PRIVATE BEACH ACCESS
• PUBLIC BEACH ACCESS
• DOWNSTAIRS DEN
• FENCED-IN BACKYARD
• COMMUNITY POOL
• OCEAN VIEWS

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $875k.

Deal economics

• At list price, monthly cash flow is $14k ($163k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $875k).
• Recommended offer: $862k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.9% 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: 94 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 $26k 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 $245k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($862k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $430k; list at $875k implies a 103% 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; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $861,875 (1.5% 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. 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?
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: 2.74% ✓
• Cap rate: 24.94%
• Cash-on-cash: 66.61%
• DSCR: 3.96
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $910,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
425 Sandman Dr	0.05mi	5/3.0 (+1)	2,313 (+0%)	2mo	$940,000	$406	90
160 Seawatch Way	0.10mi	4/4.0	2,260 (-2%)	6mo	$1,075,000	$476	83
737 Fort Fisher Blvd N	0.33mi	4/3.0	2,176 (-6%)	2mo	$880,000	$404	74
512 Shell Dr	0.33mi	4/2.5	2,336 (+1%)	9mo	$756,000	$324	73
465 Fort Fisher Blvd N	0.03mi	5/3.0 (+1)	2,600 (+13%)	2mo	$1,057,777	$407	70
512 Sandman Dr	0.16mi	4/3.0	2,053 (-11%)	12mo	$835,000	$407	65
753 Sailor Ct	0.46mi	4/3.0	2,048 (-11%)	3mo	$760,000	$371	57
737 Cutter Ct	0.39mi	4/3.5	2,548 (+11%)	12mo	$950,000	$373	52
1615 Bonito Ln	0.73mi	4/3.0	2,506 (+9%)	2mo	$990,000	$395	49
730 Settlers Ln	0.44mi	3/2.0 (-1)	2,100 (-9%)	9mo	$675,000	$321	48
765 Sloop Pointe Ln	0.46mi	3/2.5 (-1)	1,996 (-13%)	2mo	$749,900	$376	47
1725 Spot Ln	0.68mi	4/3.5	2,603 (+13%)	3mo	$928,750	$357	42

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: 65.9%
• Equity multiple: 3.96×
• Total profit: $724,291
• Equity at exit: $130,465

10-year hold

• IRR: 70.2%
• Equity multiple: 8.13×
• Total profit: $1,745,750
• Equity at exit: $75,654

Cash invested: $245,000 (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: 94
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $24,000 medium
• Mortgage (P&I): −$4,589
• Tax from tax record: −$364 /mo · $4,364/yr
• Insurance: −$365
• HOA: −$44
• Vacancy / Maint / Mgmt: −$5,040
• Net cashflow: $13,599

Break-even live

Break-even rent $6,786

Max offer price $875,000

Occupancy floor 38%

Sensitivity live

Price	-10% $14,094	-5% $13,847	+0% $13,599	+5% $13,352	+10% $13,104
Rent	-10% $11,703	-5% $12,651	+0% $13,599	+5% $14,547	+10% $15,495
Rate	-1.0pp $14,040	-0.5pp $13,822	base $13,599	+0.5pp $13,372	+1.0pp $13,142

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: $218,750
• Closing costs: $26,250
• 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	22d	1	0.68mi

HOA detail

• Monthly dues: $44 · $528/yr
• Likely covers: pool

Listing history 12 events

1. 2026-06-21
   days on market $875,000 Active 16 DOM
2. 2026-06-18
   days on market $875,000 Active 13 DOM
3. 2026-06-17
   days on market $875,000 Active 12 DOM
4. 2026-06-16
   days on market $875,000 Active 11 DOM
5. 2026-06-15
   days on market $875,000 Active 10 DOM
6. 2026-06-14
   days on market $875,000 Active 8 DOM
7. 2026-06-13
   days on market $875,000 Active 7 DOM
8. 2026-06-10
   days on market $875,000 Active 5 DOM
9. 2026-06-09
   days on market $875,000 Active 4 DOM
10. 2026-06-08
    days on market $875,000 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $875,000 Active 2 DOM

ⓘ 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: $4,364 · $364/mo
• Projected year-2 tax: $7,175 · $598/mo
• Expected delta: +$2,811/yr (+$234/mo · 64.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 18% 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: −$49,014
• − Property taxes: −$4,364
• − Insurance: −$4,375
• − Repairs & maintenance: −$23,040
• − Management: −$23,040
• − HOA: −$528
• − Depreciation: −$25,455
• Taxable income: $158,185
• Est. tax owed @ 24.0%: −$37,964
• After-tax cash flow: $125,226/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

+324.8% since first listed

3 events — show timeline

• 2026-06-05 Listed $875,000 Hive MLS
• 2018-02-02 Sold (Public Records) $430,000 Public Records
• 1995-10-01 Sold (Public Records) $206,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $4,364 · +3.2% YoY. Source: county tax records.