4690 Port Loop Rd SE · Oak Island, NC 28461

$214,900

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 77 Days on market

Built 1992 9,365 sqft lot Est $259k · 17% under

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Why this score? — see what drove the C+ 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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The beach is so close, the price is so small! Value priced three bedrooms, 2 bathrooms floor plan. This home is simple and practical country living just minutes between Southport and the Oak Island Beaches. Head down Long Beach Rd Southport, out to the old Oak Island bridge, and the first time you look, you'll probably miss this diamond in the rough. It is near beach towns and shopping centers, but it is also convenient to Wilmington and Myrtle Beach. Bring your big furniture. The big sectional sofa, the big screen TV and the big bed will all fit in this spacious home. The seller looked at the competition and really out did themselves with new carpet and new paint. The roof is also new. This home really looks great. Additionally, it sits on a corner lot and offers a detached shed. See att chment for PAS requirements and WFHM offer submittal information in MLS document section.

Key facts

• Attached deck
• Wooden privacy fence
• New flooring

Tags

• CORNER LOT
• LARGE WORKSHOP
• ATTACHED DECK
• WOODEN PRIVACY FENCE
• BEAUTIFUL TILE
• NEW FLOORING

Property features AI

Finance

• Other: Zoning: Co-R-6000

Exterior

• Parking: Concrete parking; No garage
• Utilities: Public water; Public sewer; Sewer connected; Water connected; Cable available; Underground utilities
• Home design: Manufactured home (residential); Single-story / one level; Facing: See remarks
• Construction: Wood siding / frame construction; Brick/mortar foundation; Shingle roof; Built as a manufactured home
• Exterior features: Deck; Privacy wood fencing in back yard; Storage building; Workshop; Has view; Level, corner lot

Interior

• Kitchen: Electric range
• Bedrooms: Total of 6 rooms (includes bedrooms and other living spaces)
• Bathrooms: 2 full bathrooms; Accessible full bath
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Vaulted ceilings; Ceiling fans; Skylights; Window coverings; Unfurnished
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $215k.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (5.8% below list).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.8% in Oak Island — 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 67/100 on livability (#233 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; 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: Southport Elementary (math 59% / reading 56%, grade C+, #245 of 1,410 statewide, top 18%, 403 students, 99% FRL); South Brunswick Middle (math 41% / reading 49%, grade D, #160 of 475 statewide, top 35%, 572 students, 100% FRL); South Brunswick High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 1,172 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: Rents flat; 877 active listings in the ZIP; solid renter incomes; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $215k implies a 291% 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 $202,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.94% ✗
• Cap rate: 8.15%
• Cash-on-cash: 6.62%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $258,984
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4396 Sweetbay Dr SE	0.57mi	2/2.0 (-1)	1,016 (-14%)	15mo	$221,000	$218	32

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.70×
• Total profit: $-18,281
• Equity at exit: $32,042

10-year hold

• IRR: -1.8%
• Equity multiple: 0.89×
• Total profit: $-6,758
• Equity at exit: $18,581

Cash invested: $60,172 (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 28461

• Rents YoY: 0.7%
• Active inventory: 877
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,023 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$50 /mo · $599/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $332

Break-even live

Break-even rent $1,603

Max offer price $214,900

Occupancy floor 79%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $214,900 Active 77 DOM
2. 2026-06-16
   days on market $214,900 Active 76 DOM
3. 2026-06-15
   price $214,900 Active 75 DOM
4. 2026-06-15
   days on market $219,900 Active 75 DOM
5. 2026-06-14
   days on market $219,900 Active 73 DOM
6. 2026-06-13
   days on market $219,900 Active 72 DOM
7. 2026-06-10
   days on market $219,900 Active 70 DOM
8. 2026-06-09
   days on market $219,900 Active 69 DOM
9. 2026-06-08
   days on market $219,900 Active 68 DOM
10. 2026-06-07
    days on market $219,900 Active 67 DOM
11. 2026-06-05
    days on market $219,900 Active 64 DOM
12. 2026-06-03
    days on market $219,900 Active 63 DOM
13. 2026-06-03
    price $219,900 Active 62 DOM
14. 2026-06-02
    days on market $229,900 Active 62 DOM
15. 2026-06-01
    days on market $229,900 Active 61 DOM
16. 2026-05-31
    days on market $229,900 Active 60 DOM
17. 2026-05-30
    days on market $229,900 Active 59 DOM
18. 2026-05-12
    price $229,900
19. 2026-03-16
    listed $234,900 Active
20. 2014-12-15
    soldstatus $55,000 889-char remark

    Show marketing remark (889 chars)

    The beach is so close, the price is so small! Value priced three bedrooms, 2 bathrooms floor plan. This home is simple and practical country living just minutes between Southport and the Oak Island Beaches. Head down Long Beach Rd Southport, out to the old Oak Island bridge, and the first time you look, you'll probably miss this diamond in the rough. It is near beach towns and shopping centers, but it is also convenient to Wilmington and Myrtle Beach. Bring your big furniture. The big sectional sofa, the big screen TV and the big bed will all fit in this spacious home. The seller looked at the competition and really out did themselves with new carpet and new paint. The roof is also new. This home really looks great. Additionally, it sits on a corner lot and offers a detached shed. See att chment for PAS requirements and WFHM offer submittal information in MLS document section.

21. 2014-10-22
    listed $59,000 889-char remark

    Show marketing remark (889 chars)

    The beach is so close, the price is so small! Value priced three bedrooms, 2 bathrooms floor plan. This home is simple and practical country living just minutes between Southport and the Oak Island Beaches. Head down Long Beach Rd Southport, out to the old Oak Island bridge, and the first time you look, you'll probably miss this diamond in the rough. It is near beach towns and shopping centers, but it is also convenient to Wilmington and Myrtle Beach. Bring your big furniture. The big sectional sofa, the big screen TV and the big bed will all fit in this spacious home. The seller looked at the competition and really out did themselves with new carpet and new paint. The roof is also new. This home really looks great. Additionally, it sits on a corner lot and offers a detached shed. See att chment for PAS requirements and WFHM offer submittal information in MLS document section.

ⓘ 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: $599 · $50/mo
• Projected year-2 tax: $1,762 · $147/mo
• Expected delta: +$1,163/yr (+$97/mo · 194.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 20 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: $24,279
• − Mortgage interest: −$12,038
• − Property taxes: −$599
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − Depreciation: −$6,252
• Taxable income: $432
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $3,880/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 — Oak Island

• Score: 67/100
• State rank: #233
• US rank: #10757

Category grades

Amenities F Commute F Cost of living B Crime A+ Employment A 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: 8,756
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 23,762
• Household income: $82,692
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 161.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Slovak 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -195.19%
• Current HPI: 142.5667
• Rent YoY: ▲ 0.74%
• 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

+289.7% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $229,900 Hive MLS
• 2026-03-16 Listed $234,900 Hive MLS
• 2014-12-15 Sold (MLS) $55,000 Hive MLS
• 2014-10-22 Listed $59,000 Hive MLS

Property tax history

+1.8%/yr

Latest (2025): $599 · +0.0% YoY. Source: county tax records.