717 Settlers Ln · Kure Beach, NC 28449

$900,000

3 bd · 2.5 ba · 2,256 sqft · SingleFamily public records · 106 Days on market

Built 1995 8,625 sqft lot Est $848k · 6% over $40/mo HOA

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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 +4.8/15.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 717 Settlers Lane in the highly desirable Kure Beach Village community of Kure Beach, NC, where coastal charm, modern updates, and exceptional amenities come together. This spacious 4-bedroom, 2.5-bathroom brick home offers 2,307 square feet of well-designed living space and is perfectly situated with a private backyard that backs directly to protected federal land, ensuring a peaceful, natural setting with lasting privacy. Inside, you'll find an inviting open floor plan with high ceilings in the living room that create a bright and airy feel. Abundant natural light pours into the main living areas, highlighting the fresh interior paint and enhancing the home's warm, welcoming at

Key facts

• Private back deck
• Large sunroom
• Private backyard

Tags

• PRIVATE BACKYARD
• WOOD BURNING FIREPLACE
• LARGE SUNROOM
• DEDICATED OFFICE
• BUTCHER BLOCK COUNTERTOPS
• PRIVATE BACK DECK

Property features AI

Finance

• HOA & community: Homeowners association with annual fee; Annual association fee (annually); Community pool; Association amenities include beach access, clubhouse, fitness center, tennis courts, and sport court

Exterior

• Parking: Attached 2-car garage; Concrete driveway/parking; Garage door opener; Off-street parking; Total 2 parking spaces
• Utilities: Public water; Water connected
• Home design: Single-family residence; Two levels; Residential property
• Construction: Brick veneer and frame construction; Shingle roof; Crawl space / no basement; Built with typical modern materials
• Exterior features: Deck; Beach access; Wooded lot; Paved road access; Has view; No pool

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Freezer; Pantry
• Flooring: Carpet; Tile; Hardwood
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump heating; Electric and forced air heating; Fireplace(s); Central air conditioning; Heat pump cooling
• Interior features: Sound system; Vaulted and high ceilings; Ceiling fans; Pantry; Window coverings
• Laundry & utility: Washer; Dryer; Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $900k.

Deal economics

• At list price, monthly cash flow is $14k ($163k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $900k).
• Recommended offer: $819k (9.0% below list) — sets the bar for market timing.
• Cap rate 24.4% vs local median 2.1% in Kure 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 65/100 on livability (#303 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: health & safety D, amenities F, commute F.
• New Hanover County Schools (urban): math 48% / reading 53% proficiency, ranked #61 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carolina Beach Elementary (math 55% / reading 59%, grade C+, #249 of 1,410 statewide, top 20%, 431 students, 32% FRL); Charles P Murray Middle (math 59% / reading 59%, grade B, #54 of 475 statewide, top 12%, 882 students, 34% FRL); Eugene Ashley High (math 48% / reading 68%, grade C, #243 of 535 statewide, top 46%, 1,975 students, 34% FRL).
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• New Hanover County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($819k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $900k implies a 2150% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $819,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 2.67% ✓
• Cap rate: 24.36%
• Cash-on-cash: 64.51%
• DSCR: 3.87
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $848,256
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
730 Settlers Ln	0.05mi	3/2.0	2,100 (-7%)	9mo	$675,000	$321	77
765 Sloop Pointe Ln	0.20mi	3/2.5	1,996 (-12%)	2mo	$749,900	$376	70
160 Seawatch Way	0.33mi	4/4.0 (+1)	2,260 (+0%)	6mo	$1,075,000	$476	68
737 Fort Fisher Blvd N	0.37mi	4/3.0 (+1)	2,176 (-4%)	2mo	$880,000	$404	68
753 Sailor Ct	0.15mi	4/3.0 (+1)	2,048 (-9%)	3mo	$760,000	$371	68
512 Shell Dr	0.52mi	4/2.5 (+1)	2,336 (+4%)	9mo	$756,000	$324	58
212 Seawatch Way	0.27mi	4/3.5 (+1)	2,393 (+6%)	15mo	$900,000	$376	56
737 Cutter Ct	0.22mi	4/3.5 (+1)	2,548 (+13%)	12mo	$950,000	$373	49
1615 Bonito Ln	0.51mi	4/3.0 (+1)	2,506 (+11%)	2mo	$990,000	$395	49
512 Sandman Dr	0.43mi	4/3.0 (+1)	2,053 (-9%)	12mo	$835,000	$407	48
1514 Mackerel Ln	0.60mi	4/3.0 (+1)	2,490 (+10%)	4mo	$1,000,000	$402	44
1413 Spot Ln	0.71mi	4/3.0 (+1)	2,584 (+14%)	12mo	$925,000	$358	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.6%
• Equity multiple: 3.84×
• Total profit: $716,862
• Equity at exit: $134,193

10-year hold

• IRR: 68.0%
• Equity multiple: 7.88×
• Total profit: $1,734,724
• Equity at exit: $77,816

Cash invested: $252,000 (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 28449

• Active inventory: 92
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $24,000 medium
• Mortgage (P&I): −$4,720
• Tax from tax record: −$278 /mo · $3,336/yr
• Insurance: −$375
• HOA: −$40
• Vacancy / Maint / Mgmt: −$5,040
• Net cashflow: $13,547

Break-even live

Break-even rent $6,852

Max offer price $900,000

Occupancy floor 39%

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: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1622 Swordfish Ln #1 Carolina Beach, NC	4.0	3.5	2476	$24,000	$9.69	21d	1	0.48mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 18 events

1. 2026-06-18
   days on market $900,000 Active 106 DOM
2. 2026-06-17
   days on market $900,000 Active 105 DOM
3. 2026-06-16
   days on market $900,000 Active 104 DOM
4. 2026-06-15
   days on market $900,000 Active 103 DOM
5. 2026-06-14
   days on market $900,000 Active 101 DOM
6. 2026-06-13
   days on market $900,000 Active 100 DOM
7. 2026-06-10
   days on market $900,000 Active 98 DOM
8. 2026-06-09
   days on market $900,000 Active 97 DOM
9. 2026-06-08
   days on market $900,000 Active 96 DOM
10. 2026-06-07
    days on market $900,000 Active 95 DOM
11. 2026-06-05
    days on market $900,000 Active 92 DOM
12. 2026-06-03
    days on market $900,000 Active 91 DOM
13. 2026-06-03
    days on market $900,000 Active 90 DOM
14. 2026-05-31
    days on market $900,000 Active 88 DOM
15. 2026-05-30
    days on market $900,000 Active 87 DOM
16. 2026-03-28
    price $900,000
17. 2026-03-04
    listed $925,000 Active
18. 1994-01-01
    soldstatus $40,000

ⓘ 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: $3,336 · $278/mo
• Projected year-2 tax: $7,380 · $615/mo
• Expected delta: +$4,044/yr (+$337/mo · 121.2%)

ⓘ 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 10/10 Extreme 7 d/yr ≥104°F today · 19 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: $288,000
• − Mortgage interest: −$50,414
• − Property taxes: −$3,336
• − Insurance: −$4,500
• − Repairs & maintenance: −$23,040
• − Management: −$23,040
• − HOA: −$480
• − Depreciation: −$26,182
• Taxable income: $157,008
• Est. tax owed @ 24.0%: −$37,682
• After-tax cash flow: $124,886/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: New Hanover County Schools
• NCES district ID: 3703330
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $49,406
• Composite: 43.13/100
• National rank: #3081
• State rank: #61 of 178 in NC

Livability — Kure Beach

• Score: 65/100
• State rank: #303
• US rank: #12563

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kure Beach, NC
• Population (ZIP): 2,017

Population outlook (New Hanover County) Hauer SSP2

• Today (2025): 259,517 people
• By 2030: 279,586 · +7.7%
• By 2040: 318,223 · +22.6%
• By 2050: 354,831 · +36.7%
• By 2075: 437,158 · +68.5%
• By 2100: 486,769 · +87.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Romanian 6% Serbian 5% Lithuanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · New Hanover

• 2024 margin: Toss-up / Even · D 49.8% · R 49.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: -1.4pp · 2024: 0.6pp
• All cycles: 2024: D+0.6 2020: D+2.1 2016: R+4.1 2012: R+4.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.31%
• Current HPI: 246.571
• Rent YoY: —
• Metro: —
• 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

+2150.0% since first listed

3 events — show timeline

• 2026-03-28 Price Changed $900,000 Hive MLS
• 2026-03-04 Listed $925,000 Hive MLS
• 1994-01-01 Sold (Public Records) $40,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $3,336 · -13.3% YoY. Source: county tax records.