163 Pine Crest Dr · Broad Creek, NC 28570

$489,000

3 bd · 2.0 ba · 1,820 sqft · Other · 53 Days on market

Built 2026 0.38 ac lot

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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

Opportunity Knocks! Welcome to Pinecrest Drive, - where potential meets possibility! Uninhabitable mobile home on site - perfect for renovation or removal. Act fast on this prime investment opportunity! This . 38-acre plot offers a canvas for your vision. Conveniently located near local gems including a beloved brewery, award winning schools, grocery stores, and sandy shores, this parcel promises both convenience and potential. Only 2.4 miles away from the future site of the West Carteret Regional Boating Access ramp.

Key facts

• Abundant cabinetry
• Stunning kitchen
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• EXPANSIVE LIVING AREA
• STUNNING KITCHEN
• ABUNDANT CABINETRY
• GENEROUS COUNTER SPACE
• OVERSIZED PRIMARY SUITE

Property features AI

Exterior

• Parking: On-site parking
• Security: Smoke detector(s)
• Utilities: Well water; Septic tank; Water connected; Sewer connected
• Home design: Manufactured home (residential); One story; Entry level: 1; Has a view
• Construction: Vinyl siding and frame construction; Permanent foundation
• Exterior features: No notable exterior features listed; No patio or porch; No fencing; Shingle roof

Interior

• Kitchen: Refrigerator; Dishwasher; Electric range
• Bedrooms: Total rooms: 8
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Heat pump
• Interior features: Walk-in closet(s); Unfurnished
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $489k.

Deal economics

• At list price, monthly cash flow is $6k ($77k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $489k).
• Recommended offer: $474k (3.0% below list) — sets the bar for market timing.

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: 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 $12,408/mo this rent would consume 212% 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 $15k 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 $137k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($474k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $38k; list at $489k implies a 1204% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $474,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 2.54% ✓
• Cap rate: 22.06%
• Cash-on-cash: 56.30%
• DSCR: 3.50
• GRM: 3.3

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: 54.7%
• Equity multiple: 3.41×
• Total profit: $330,051
• Equity at exit: $72,911

10-year hold

• IRR: 59.8%
• Equity multiple: 6.95×
• Total profit: $814,948
• Equity at exit: $42,280

Cash invested: $136,920 (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: 3.3×

Monthly cashflow live

• Estimated rent: $12,408 medium
• Mortgage (P&I): −$2,564
• Tax est. 1.5%: −$611 /mo · $7,335/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,606
• Net cashflow: $6,423

Break-even live

Break-even rent $4,278

Max offer price $489,000

Occupancy floor 43%

Sensitivity live

Price	-10% $6,761	-5% $6,592	+0% $6,423	+5% $6,254	+10% $6,085
Rent	-10% $5,443	-5% $5,933	+0% $6,423	+5% $6,913	+10% $7,404
Rate	-1.0pp $6,670	-0.5pp $6,548	base $6,423	+0.5pp $6,297	+1.0pp $6,168

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-17
   days on market $489,000 Active 53 DOM
2. 2026-06-16
   days on market $489,000 Active 52 DOM
3. 2026-06-15
   days on market $489,000 Active 51 DOM
4. 2026-06-14
   days on market $489,000 Active 49 DOM
5. 2026-06-12
   days on market $489,000 Active 48 DOM
6. 2026-06-09
   days on market $489,000 Active 45 DOM
7. 2026-06-08
   days on market $489,000 Active 44 DOM
8. 2026-06-07
   days on market $489,000 Active 43 DOM
9. 2026-06-05
   days on market $489,000 Active 40 DOM
10. 2026-06-03
    days on market $489,000 Active 39 DOM
11. 2026-06-02
    days on market $489,000 Active 38 DOM
12. 2026-06-01
    days on market $489,000 Active 37 DOM
13. 2026-05-31
    days on market $489,000 Active 36 DOM
14. 2026-05-30
    days on market $489,000 Active 35 DOM
15. 2026-04-25
    listed $489,000 Active
16. 2026-02-13
    soldstatus $37,500 Closed 529-char remark

    Show marketing remark (529 chars)

    Opportunity Knocks! Welcome to Pinecrest Drive, - where potential meets possibility! Uninhabitable mobile home on site - perfect for renovation or removal. Act fast on this prime investment opportunity! This . 38-acre plot offers a canvas for your vision. Conveniently located near local gems including a beloved brewery, award winning schools, grocery stores, and sandy shores, this parcel promises both convenience and potential. Only 2.4 miles away from the future site of the West Carteret Regional Boating Access ramp.

17. 2025-12-27
    status Pending 529-char remark

    Show marketing remark (529 chars)

    Opportunity Knocks! Welcome to Pinecrest Drive, - where potential meets possibility! Uninhabitable mobile home on site - perfect for renovation or removal. Act fast on this prime investment opportunity! This . 38-acre plot offers a canvas for your vision. Conveniently located near local gems including a beloved brewery, award winning schools, grocery stores, and sandy shores, this parcel promises both convenience and potential. Only 2.4 miles away from the future site of the West Carteret Regional Boating Access ramp.

18. 2025-08-29
    price $58,000 529-char remark

    Show marketing remark (529 chars)

    Opportunity Knocks! Welcome to Pinecrest Drive, - where potential meets possibility! Uninhabitable mobile home on site - perfect for renovation or removal. Act fast on this prime investment opportunity! This . 38-acre plot offers a canvas for your vision. Conveniently located near local gems including a beloved brewery, award winning schools, grocery stores, and sandy shores, this parcel promises both convenience and potential. Only 2.4 miles away from the future site of the West Carteret Regional Boating Access ramp.

19. 2025-01-17
    status Active 529-char remark

    Show marketing remark (529 chars)

    Opportunity Knocks! Welcome to Pinecrest Drive, - where potential meets possibility! Uninhabitable mobile home on site - perfect for renovation or removal. Act fast on this prime investment opportunity! This . 38-acre plot offers a canvas for your vision. Conveniently located near local gems including a beloved brewery, award winning schools, grocery stores, and sandy shores, this parcel promises both convenience and potential. Only 2.4 miles away from the future site of the West Carteret Regional Boating Access ramp.

20. 2024-12-08
    status Pending 529-char remark

    Show marketing remark (529 chars)

    Opportunity Knocks! Welcome to Pinecrest Drive, - where potential meets possibility! Uninhabitable mobile home on site - perfect for renovation or removal. Act fast on this prime investment opportunity! This . 38-acre plot offers a canvas for your vision. Conveniently located near local gems including a beloved brewery, award winning schools, grocery stores, and sandy shores, this parcel promises both convenience and potential. Only 2.4 miles away from the future site of the West Carteret Regional Boating Access ramp.

21. 2024-06-21
    status Active 529-char remark

    Show marketing remark (529 chars)

    Opportunity Knocks! Welcome to Pinecrest Drive, - where potential meets possibility! Uninhabitable mobile home on site - perfect for renovation or removal. Act fast on this prime investment opportunity! This . 38-acre plot offers a canvas for your vision. Conveniently located near local gems including a beloved brewery, award winning schools, grocery stores, and sandy shores, this parcel promises both convenience and potential. Only 2.4 miles away from the future site of the West Carteret Regional Boating Access ramp.

22. 2024-06-13
    status Pending 529-char remark

    Show marketing remark (529 chars)

    Opportunity Knocks! Welcome to Pinecrest Drive, - where potential meets possibility! Uninhabitable mobile home on site - perfect for renovation or removal. Act fast on this prime investment opportunity! This . 38-acre plot offers a canvas for your vision. Conveniently located near local gems including a beloved brewery, award winning schools, grocery stores, and sandy shores, this parcel promises both convenience and potential. Only 2.4 miles away from the future site of the West Carteret Regional Boating Access ramp.

23. 2024-04-26
    listed $75,000 Active 529-char remark

    Show marketing remark (529 chars)

    Opportunity Knocks! Welcome to Pinecrest Drive, - where potential meets possibility! Uninhabitable mobile home on site - perfect for renovation or removal. Act fast on this prime investment opportunity! This . 38-acre plot offers a canvas for your vision. Conveniently located near local gems including a beloved brewery, award winning schools, grocery stores, and sandy shores, this parcel promises both convenience and potential. Only 2.4 miles away from the future site of the West Carteret Regional Boating Access ramp.

ⓘ 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 · 19 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: $148,901
• − Mortgage interest: −$27,392
• − Property taxes: −$7,335
• − Insurance: −$2,445
• − Repairs & maintenance: −$11,912
• − Management: −$11,912
• − Depreciation: −$14,225
• Taxable income: $73,680
• Est. tax owed @ 24.0%: −$17,683
• After-tax cash flow: $59,396/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 — 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

• 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

+552.0% since first listed

9 events — show timeline

• 2026-04-25 Listed $489,000 Hive MLS
• 2026-02-13 Sold (MLS) $37,500 Hive MLS
• 2025-12-27 Pending — Hive MLS
• 2025-08-29 Price Changed $58,000 Hive MLS
• 2025-01-17 Relisted — Hive MLS
• 2024-12-08 Pending — Hive MLS
• 2024-06-21 Relisted — Hive MLS
• 2024-06-13 Pending — Hive MLS
• 2024-04-26 Listed $75,000 Hive MLS

Property tax history

+3.0%/yr

Latest (2025): $195 · +24.4% YoY. Source: county tax records.