670 Calabash Rd NW · Carolina Shores, NC 28467

$155,000

3 bd · 2.0 ba · 2,168 sqft · Manufactured public records · 263 Days on market

Built 1974 1.52 ac lot ↓ 7% since listing

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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 +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Every property tells a story, and this one is ready for its next chapter. This manufactured home needs significant renovation and will require vision and effort to bring it back to life. Or, remove the SWMH and build your beach retreat. Situated on approximately 0.50 acres, the property will be combined at closing with an additional 1.05± acres from an adjoining tract, offering a total of about 1.55± acres. Conveniently located just minutes from the South Brunswick Island beaches and close to shopping, dining, and local attractions, it also offers easy access to the South Carolina state line. With no HOA restrictions, you have the freedom to create a property that fits your ne

Key facts

• County water
• Open space
• Coastal retreat

Tags

• COASTAL RETREAT
• COUNTY WATER
• OPEN SPACE
• NO HOA RESTRICTIONS
• MINUTES FROM BEACHES
• CLOSE TO SHOPPING

Property features AI

Finance

• Financial info: Annual tax amount available

Exterior

• Parking: Attached garage; Carport (1 space); Unpaved parking
• Utilities: Water available; Paved road access; Road frontage: city street and state road; Zoning: Co-R-7500
• Home design: Manufactured home; One level; Entry level: 1
• Construction: Shingle roof; Construction and foundation: see remarks
• Exterior features: Covered porch; Porch; No fencing; Has a view

Interior

• Kitchen: Electric oven
• Bedrooms: Total rooms: 7
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $936 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 3.9% in Carolina Shores — 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 (#352 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B+; 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: Jessie Mae Monroe Elementary (math 43% / reading 41%, grade F, #633 of 1,410 statewide, top 48%, 394 students, 99% FRL); Shallotte Middle (math 40% / reading 50%, grade D, #160 of 475 statewide, top 35%, 674 students, 100% FRL); West Brunswick High (math 50% / reading 56%, grade C-, #281 of 535 statewide, top 53%, 1,526 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: 691 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 38% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Brunswick County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 263 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.53% ✓
• Cap rate: 13.54%
• Cash-on-cash: 25.89%
• DSCR: 2.15
• GRM: 5.4

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: 19.5%
• Equity multiple: 1.79×
• Total profit: $34,482
• Equity at exit: $23,111

10-year hold

• IRR: 27.8%
• Equity multiple: 3.46×
• Total profit: $106,640
• Equity at exit: $13,402

Cash invested: $43,400 (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 28467

• Home prices YoY: -33.7%
• Active inventory: 691
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,372 high
• Mortgage (P&I): −$813
• Tax from tax record: −$60 /mo · $719/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $936

Break-even live

Break-even rent $1,186

Max offer price $155,000

Occupancy floor 56%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
570 Tullimore Ln NW Carolina Shores, NC	4.0	3.0	2587	$2,800	$1.08	14d	1	0.30mi
1204 Calabash Station Blvd NW Ocean Isle Beach, NC	3.0	2.0	1811	$2,200	$1.21	23d	1	0.30mi
3021 Siskin Dr NW Calabash, NC	2.0–3.0	2.0–2.5	1557	$2,279	$1.46	14d	46	0.35mi
2042 Parow Ln NW Calabash, NC	3.0	2.5	1680	$1,800	$1.07	14d	1	0.94mi
2033 Wild Indigo CIR NW Calabash, NC	3.0	3.0	1457	$1,775	$1.22	23d	1	0.99mi
31 Quaker Ridge Dr Calabash, NC	2.0–3.0	2.0	1411	$2,292	$1.62	21d	51	1.31mi

Listing history 9 events

1. 2026-06-07
   statusdays on market $155,000 Pending 263 DOM
2. 2026-06-05
   days on market $155,000 Active 262 DOM
3. 2026-06-03
   days on market $155,000 Active 261 DOM
4. 2026-06-02
   days on market $155,000 Active 260 DOM
5. 2026-06-01
   days on market $155,000 Active 259 DOM
6. 2026-05-31
   days on market $155,000 Active 258 DOM
7. 2026-05-30
   days on market $155,000 Active 257 DOM
8. 2026-04-21
   price $155,000
9. 2025-09-15
   listed $167,000 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: $719 · $60/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$552/yr (+$46/mo · 76.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 51% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,463
• − Mortgage interest: −$8,682
• − Property taxes: −$719
• − Insurance: −$775
• − Repairs & maintenance: −$2,277
• − Management: −$2,277
• − Depreciation: −$4,509
• Taxable income: $9,223
• Est. tax owed @ 24.0%: −$2,214
• After-tax cash flow: $9,024/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: 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 — Carolina Shores

• Score: 64/100
• State rank: #352
• US rank: #13907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• City population: 13,313
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 13,313
• Household income: $75,341
• Rent vs Own: 10.4% rent · 89.6% own
• Severe rent burden: 81.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1%

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: ▼ -67.90%
• Current HPI: 133.7186
• Rent YoY: —
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-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

-7.2% since first listed

2 events — show timeline

• 2026-04-21 Price Changed $155,000 Hive MLS
• 2025-09-15 Listed $167,000 Hive MLS

Property tax history

+3.1%/yr

Latest (2025): $719 · +0.0% YoY. Source: county tax records.