158 Quinn Hill Rd · Newport, NC 28570

$394,900

3 bd · 2.0 ba · 1,645 sqft · Other public records · 4 Days on market

Built 2015 0.47 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

3 bedroom 2 bath with additional room as an office or den. Vinyl flooring and carpet, large walk in closet in principle bedroom. Come early to pick out cabinets, flooring, and enterior colors within the builders allowance. Outside city limits so no city taxes. ALL PICTURES ARE SIMILAR. Sewer: Existing Septic Syst Water: Existing Well

Key facts

• Three storage sheds
• Spacious deck
• Functional layout

Tags

• PRIVACY-FENCED BACKYARD
• SPACIOUS DECK
• THREE STORAGE SHEDS
• CHICKEN COOP
• FUNCTIONAL LAYOUT
• ALL APPLIANCES CONVEYING

Property features AI

Exterior

• Parking: 2 parking spaces total; Attached 2-car garage; Paved parking
• Utilities: Well water; Septic tank; Generator for electric backup; Cable available
• Home design: Single family residence; One level; Entry level 1; Located in a cul-de-sac; Residential zoning
• Construction: Vinyl siding over frame construction; Shingle roof; Slab foundation; Built with typical frame construction
• Exterior features: Deck; Privacy fencing in back yard; Shed(s) and outbuilding; Generator; Has a view; No additional exterior features listed

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 total rooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning; Wall/window unit(s)
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer; Dryer; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $395k.

Deal economics

• At list price, monthly cash flow is $7k ($90k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $395k).

Location & tenants

• Location reads 63/100 on livability (#385 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• 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 $12,434/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 $12k 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 $111k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $180k; list at $395k implies a 120% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $394,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 3.15% ✓
• Cap rate: 29.01%
• Cash-on-cash: 81.15%
• DSCR: 4.61
• GRM: 2.6

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: 81.4%
• Equity multiple: 4.73×
• Total profit: $412,198
• Equity at exit: $58,881

10-year hold

• IRR: 84.7%
• Equity multiple: 9.79×
• Total profit: $971,970
• Equity at exit: $34,144

Cash invested: $110,572 (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: 2.6×

Monthly cashflow live

• Estimated rent: $12,434 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$110 /mo · $1,321/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,611
• Net cashflow: $7,477

Break-even live

Break-even rent $2,969

Max offer price $394,900

Occupancy floor 35%

Sensitivity live

Price	-10% $7,701	-5% $7,589	+0% $7,477	+5% $7,366	+10% $7,254
Rent	-10% $6,495	-5% $6,986	+0% $7,477	+5% $7,968	+10% $8,460
Rate	-1.0pp $7,676	-0.5pp $7,578	base $7,477	+0.5pp $7,375	+1.0pp $7,271

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: $98,725
• Closing costs: $11,847
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-19
   days on market $394,900 Active 4 DOM
2. 2026-06-18
   days on market $394,900 Active 3 DOM
3. 2026-06-17
   days on market $394,900 Active 2 DOM
4. 2026-06-16
   remarks 699-char remark
5. 2026-06-16
   listed $394,900 Active 1 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: $1,321 · $110/mo
• Projected year-2 tax: $3,238 · $270/mo
• Expected delta: +$1,917/yr (+$160/mo · 145.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $149,208
• − Mortgage interest: −$22,121
• − Property taxes: −$1,321
• − Insurance: −$1,974
• − Repairs & maintenance: −$11,937
• − Management: −$11,937
• − Depreciation: −$11,488
• Taxable income: $88,431
• Est. tax owed @ 24.0%: −$21,223
• After-tax cash flow: $68,505/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 — Newport

• Score: 63/100
• State rank: #385
• US rank: #15094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Carteret County · 52,389 people
• City population: 22,197
• 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

+230.5% since first listed

4 events — show timeline

• 2026-06-05 Listed $394,900 Hive MLS
• 2015-12-11 Listed $179,500 Hive MLS
• 2015-12-11 Sold (MLS) $179,500 Hive MLS
• 2010-04-01 Sold (Public Records) $119,500 Public Records

Property tax history

+32.7%/yr

Latest (2025): $1,321 · +46.2% YoY. Source: county tax records.