2196 New River Inlet Rd Unit 162 · North Topsail Beach, NC
Flood risk No data
- FEMA flood zone
- —
- Chance of flooding over 30 yrs
- —
- Est. flood insurance / yr
- —
Fire risk No data
- Est. fire insurance / yr
- —
Heat risk No data
- Hot days now (above threshold)
- —
- Hot days in 30 yrs
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Wind risk No data
- Chance of severe wind over 30 yrs
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Air-quality risk No data
- Unhealthy air days now
- —
- Unhealthy air days in 30 yrs
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Risk factors via First Street. Map © Google.
Why this score? — see what drove the D 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).
- ARV discount +15.0/15.0
- 1% rule +6.9/10.0
- Schools +5.9/10.0
- Cash flow +4.7/30.0
- Rent growth +3.9/5.0
- Condition / age +3.8/5.0
- Livability +3.2/5.0
- DSCR +0.0/10.0
- Appreciation +0.0/10.0
$130,000
2196 New River Inlet Rd Unit 162 · North Topsail Beach, NC 28460
1 bd · 1.0 ba · 532 sqft · Condo
· 176 Days on market
Built 1981
$244/sqft
· 20% below area
Est $162k · 20% under
$647/mo HOA · 42% of rent
↓ 19% since listing
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
Oceanfront Bliss Awaits: Cozy 1-Bedroom Condominium in North Topsail Beach Discover the ultimate coastal retreat in this charming 1-bedroom, 1-bath oceanfront condominium located in the picturesque North Topsail Beach. This inviting property boasts stunning views and direct access to the pristine sandy shores, making it an ideal getaway for relaxation and enjoyment. With its prime location, you'll be just steps away from the sound of waves and the beauty of sunrises over the Atlantic Ocean.
Key facts
- Stunning views
- $647 HOA
- Built 1981
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 1-bed/1.0-bath condo listed at $130k. Condition is rated good.
Deal economics
- At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
- To cash-flow at today's rent, offer at most $83k (36.2% below list).
- Meets the 1% rule at list price ($2k rent vs $130k).
- Recommended offer: $83k (36.2% below list) — sets the bar for cash-flow.
- Cap rate 3.3% vs local median 0.1% in North Topsail 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 63/100 on livability (#424 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+; Watch: health & safety D, amenities F, commute F.
- Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
- Zoned schools: Coastal Elementary (822 students, 31% FRL); Dixon Middle (math 49% / reading 53%, grade C, #106 of 475 statewide, top 22%, 948 students, 39% FRL); Dixon High (math 62% / reading 72%, grade B, #142 of 535 statewide, top 28%, 1,149 students, 33% FRL) — zoned schools at 34% FRL track the district average.
- Zoned-school proficiency averages 59% at this address vs 46% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Onslow County Schools average implies; a family-tenant draw the district grade alone would hide.
- Market conditions: Rents rising fast (+5.7%/yr); 687 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).
Forward outlook
- Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
Negotiation context
- It's been on market 176 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
- 3 sale attempts since 4y ago; this cycle's ask has dropped $19k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
Risks & watch-outs
- Watch-outs: HOA is 42% of rent.
Recommended offer
$82,947
(36.2% below list)
Questions for the listing agent
- What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
- It's been on market 176 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
- What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
- Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
- 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.
- 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.
- How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.
Investment metrics
- 1% rule
- 1.19% ✓
- Cap rate
- 3.29%
- Cash-on-cash
- -10.72%
- DSCR
- 0.52
- GRM
- 7.0
CMA / ARV
- ARV (median comp)
- $162,278
- List price
- $130,000
- Delta
- -19.89%
- Verdict
- UNDERPRICED
- Comps
- 20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 2224 New River Inlet Rd #136 | 0.00mi | 1/1.0 | 532 (0%) | 8mo | $115,000 | $216 | 93 |
| 2210 New River Inlet Rd #159 | 0.03mi | 1/1.0 | 550 (+3%) | 4mo | $135,000 | $245 | 89 |
| 2174 New River Inlet Rd Unit 384 | 0.13mi | 1/1.0 | 532 (0%) | 7mo | $128,000 | $241 | 88 |
| 2240 New River Inlet Rd Unit 325 | 0.04mi | 1/1.0 | 489 (-8%) | 6mo | $148,000 | $303 | 79 |
| 232 Sand Piper Dr | 0.41mi | 2/1.0 (+1) | 532 (0%) | 5mo | $300,000 | $564 | 71 |
| 206 Sand Piper Dr | 0.39mi | 1/1.5 | 570 (+7%) | 3mo | $286,000 | $502 | 66 |
| 239 Sandpiper Dr | 0.43mi | 2/1.5 (+1) | 568 (+7%) | 9mo | $310,000 | $546 | 54 |
| 1822 New River Inlet Rd Unit 1312a | 0.85mi | 1/1.0 | 560 (+5%) | 3mo | $283,000 | $505 | 54 |
| 1840 New River Inlet Rd #2310 | 0.82mi | 1/1.0 | 560 (+5%) | 4mo | $265,000 | $473 | 53 |
| 230 Sand Piper Dr | 0.41mi | 1/1.0 | 421 (-21%) | 4mo | $249,000 | $591 | 52 |
| 1822 New River Inlet Rd Unit 1102a | 0.85mi | 1/1.0 | 560 (+5%) | 6mo | $280,000 | $500 | 52 |
| 1840 New River Inlet Rd Unit 2210b | 0.81mi | 1/1.0 | 560 (+5%) | 7mo | $258,000 | $461 | 50 |
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 · 5.68% rent growth · sell at horizon
5-year hold
- IRR
- -29.4%
- Equity multiple
- -0.02×
- Total profit
- $-37,079
- Equity at exit
- $19,383
10-year hold
- IRR
- -15.5%
- Equity multiple
- -0.06×
- Total profit
- $-38,705
- Equity at exit
- $11,240
Cash invested: $36,400 (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.
Active competition Active MLS
- For sale now
- 0 active · 1 under contract
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 28460
- Rents YoY
- 5.7%
- Active inventory
- 687
- Price-to-rent
- 7.0×
Monthly cashflow live
↻
- Estimated rent
- $1,545 medium interval (Pro) →
- Mortgage (P&I)
- −$682
- Tax est. 1.5%
- −$162 /mo · $1,950/yr
- Insurance
- −$54
- HOA
- −$647
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$324
- Net cashflow
- $-325
Break-even live
Break-even rent
$1,956
Max offer price
$82,947
Occupancy floor
—
Sensitivity live
| Price | -10% $-235 | -5% $-280 | +0% $-325 | +5% $-370 | +10% $-415 |
|---|---|---|---|---|---|
| Rent | -10% $-447 | -5% $-386 | +0% $-325 | +5% $-264 | +10% $-203 |
| Rate | -1.0pp $-260 | -0.5pp $-292 | base $-325 | +0.5pp $-359 | +1.0pp $-393 |
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
- $32,500
- Closing costs
- $3,900
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 3 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 2210 # N Unit New River Inlet Rd unit Sneads Ferry, NC | 1.0 | 1.0 | 532 | $1,350 | $2.54 | 5d | 1 | 0.03mi |
| 2250 New River Inlet Rd N Topsail Beach, NC | 1.0 | 1.0 | 532 | $1,488 | $2.80 | 5d | 2 | 0.10mi |
| 2250 New River Inlet Rd N Topsail Beach, NC | 1.0 | 1.0 | 532 | $1,800 | $3.38 | 5d | 1 | 0.10mi |
Property features AI
Finance
- HOA & community
- Has homeowners associationAnnual association fee of $7,764 (about $647/month)Association amenities include basketball court, beach access, laundry, and grounds maintenance
Exterior
- Parking
- Off-street paved parkingNo garage
- Utilities
- Public waterSewer connectedWater connectedElectric service
- Home design
- CondominiumResidential propertyOne storyFlat membrane roof
- Construction
- Wood siding/frame constructionPillar/post/pier foundationBuilt on one level
- Exterior features
- Covered porchSplit rail fencingOceanfront frontageHas viewNo additional exterior features listed
Interior
- Kitchen
- Electric ovenElectric range
- Bedrooms
- 2 total rooms (includes bedroom count within total rooms)
- Flooring
- Vinyl
- Bathrooms
- 1 full bathroom
- Heating & cooling
- Baseboard heatingElectric heatingHas cooling (type: Other)Electric water heater
- Interior features
- FurnishedCovered porch
- Laundry & utility
- No laundry in unit
HOA detail $647/mo · $7,764/yr condo
- Assessments
- None detected in remarks — confirm with the listing agent.
Listing history 50 events
-
2026-09-24days on market $130,000 Active 176 DOM
-
2026-09-22days on market $130,000 Active 175 DOM
-
2026-09-20days on market $130,000 Active 173 DOM
-
2026-09-18days on market $130,000 Active 171 DOM
-
2026-09-17days on market $130,000 Active 170 DOM
-
2026-09-16days on market $130,000 Active 169 DOM
-
2026-09-15days on market $130,000 Active 168 DOM
-
2026-09-14days on market $130,000 Active 167 DOM
-
2026-09-13days on market $130,000 Active 166 DOM
-
2026-09-12days on market $130,000 Active 165 DOM
-
2026-09-11days on market $130,000 Active 164 DOM
-
2026-09-05days on market $130,000 Active 158 DOM
-
2026-09-04days on market $130,000 Active 157 DOM
-
2026-09-03days on market $130,000 Active 156 DOM
-
2026-08-31days on market $130,000 Active 153 DOM
-
2026-08-30days on market $130,000 Active 152 DOM
-
2026-08-29days on market $130,000 Active 151 DOM
-
2026-08-28days on market $130,000 Active 150 DOM
-
2026-08-27days on market $130,000 Active 149 DOM
-
2026-08-26days on market $130,000 Active 148 DOM
-
2026-08-25days on market $130,000 Active 147 DOM
-
2026-08-24days on market $130,000 Active 146 DOM
-
2026-08-23days on market $130,000 Active 145 DOM
-
2026-08-22days on market $130,000 Active 144 DOM
-
2026-08-21days on market $130,000 Active 143 DOM
-
2026-08-20days on market $130,000 Active 142 DOM
-
2026-08-19days on market $130,000 Active 141 DOM
-
2026-08-18days on market $130,000 Active 140 DOM
-
2026-08-17days on market $130,000 Active 139 DOM
-
2026-08-16days on market $130,000 Active 138 DOM
-
2026-08-15days on market $130,000 Active 137 DOM
-
2026-08-14days on market $130,000 Active 136 DOM
-
2026-08-13days on market $130,000 Active 135 DOM
-
2026-08-12days on market $130,000 Active 134 DOM
-
2026-08-11days on market $130,000 Active 133 DOM
-
2026-08-10days on market $130,000 Active 132 DOM
-
2026-08-09days on market $130,000 Active 131 DOM
-
2026-08-08days on market $130,000 Active 130 DOM
-
2026-08-07days on market $130,000 Active 129 DOM
-
2026-08-06days on market $130,000 Active 128 DOM
-
2026-08-05days on market $130,000 Active 127 DOM
-
2026-08-04days on market $130,000 Active 126 DOM
-
2026-08-03days on market $130,000 Active 125 DOM
-
2026-07-31days on market $130,000 Active 122 DOM
-
2026-07-29days on market $130,000 Active 120 DOM
-
2026-07-27days on market $130,000 Active 118 DOM
-
2026-07-25days on market $130,000 Active 116 DOM
-
2026-07-23days on market $130,000 Active 114 DOM
-
2026-07-22days on market $130,000 Active 113 DOM
-
2026-07-21days on market $130,000 Active 112 DOM
ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot
backfill from property_details.listing_events for pre-trigger history.
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
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Taxation est. · year 1
- Rental income
- $18,535
- − Mortgage interest
- −$7,282
- − Property taxes
- −$1,950
- − Insurance
- −$650
- − Repairs & maintenance
- −$1,483
- − Management
- −$1,483
- − HOA
- −$7,764
- − Depreciation
- −$3,782
- Taxable loss
- −$5,858
combined federal + state — saved on this device
- Est. tax savings @ 24.0%
- +$1,406
- After-tax cash flow
- $-2,496/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.
Condition & rehab AI · 13 photos
75/100
Cosmetic rehab
Est. rehab $2,660–$7,980 screening
This 1-bedroom, 1-bath oceanfront condominium in North Topsail Beach is in good condition with minimal repairs needed. It offers a prime location and direct access to the beach, making it an ideal coastal retreat.
Value-add opportunities
- Resale Paint exterior siding — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers. ↑
- Rental Clean carpets — Clean carpets can improve the living experience for tenants and make the home more appealing to renters. ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
D
Composite school gradezoned avg 59/100
Zoned Schools
Elementary
Coastal Elementary
Middle
Dixon Middle
C
NC #106/475
Nat'l #3,276/14,009
High
Dixon High
B
NC #142/535
Nat'l #2,514/17,239
Schools (NCES district)
- District
- Onslow County Schools
- NCES district ID
- 3703450
- Math proficiency
- 42% ▲ 6.00%
- Reading proficiency
- 49% ▲ 5.00%
- Median HH income
- $46,076
- Composite
- 38.66/100
- National rank
- #4148
- State rank
- #84 of 178 in NC
C
Composite livability gradescore 63/100
Livability — North Topsail Beach
- Score
- 63/100
- State rank
- #424
- US rank
- #15770
Category grades
Amenities F
Commute F
Cost of living C+
Crime A+
Employment C
Housing B-
Health & safety D
User ratings A+
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- North Topsail Beach, NC
- County
- Onslow County · 189,789 people
- Metro
- Jacksonville, NC
- Population (ZIP)
- 13,532
- Household income
- $88,908
- Rent vs Own
- Severe rent burden
- 2% of renters
Population outlook (Onslow County) Hauer SSP2
- Today (2025)
- 189,789 people
- By 2030
- 194,463 · +2.5%
- By 2040
- 193,629 · +2.0%
- By 2050
- 193,248 · +1.8%
- By 2075
- 196,995 · +3.8%
- By 2100
- 201,513 · +6.2%
Race, ethnicity, and origin ACS 2023
- Neighborhood character
- Predominantly White (79%)
- Race & ethnicity
- White 79% Two or more races 13% Hispanic / Latino 9% Black 3% Asian 1%
- Hispanic origin (detail)
- Mexican 1% Puerto Rican 5% Dominican 2%
- Common ancestry
- Lithuanian 3% Romanian 2% Portuguese 2%
- Foreign-born
- 3% · South Korea, Canada
- Languages at home
- 93% English-only · Spanish 4% German/W. Germanic 1% Other Indo-European 1%
Political lean MEDSL · Onslow
- 2024 margin
- Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
- 2008→2024 swing
- -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
- All cycles
- 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5
Not yet ingested
- Civics
- —
Market trends
- HPI YoY
- ▼ -162.21%
- Current HPI
- 176.3461
- Rent YoY
- ▲ 5.68%
- Metro
- Jacksonville, 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 |
|
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Price history
-18.8% since first listed6 events — show timeline
- 2026-05-08 Price Changed $138,000 Hive MLS
- 2026-03-31 Listed $149,000 Hive MLS
- 2022-06-17 Relisted — Hive MLS
- 2022-05-21 Pending — Hive MLS
- 2022-05-21 Listing Removed — Hive MLS
- 2022-05-18 Listed $169,900 Hive MLS
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…