157 Hall Rd · Newport, NC 28570

$360,000

4 bd · 2.0 ba · 2,280 sqft · Manufactured public records · 37 Days on market

Built 2002 1.43 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

Privacy, acreage, tons of space, square footage, Croatan School District and an ENORMOUS GARAGE man cave. The kitchen is HUGE with cabinets galore that spread out with space for the family to gather and cook together. The home has an open floor plan with a separate living room area and a den for extra room to entertain. Enjoy sitting on the front or back porch rocking or swinging away enjoying nature. The best is the large garage (40x50) that can hold 4 cars or just a fun place to gather and entertain friends and family. If you need even more space you can use the additional garage (20x40) for storage. Call us today to get this deal before someone else beats you to it!!

Key facts

• Open floor plan
• 20x40 garage
• Huge kitchen

Tags

• CROATAN SCHOOL DISTRICT
• MASSIVE GARAGE
• 20X40 GARAGE
• HUGE KITCHEN
• OPEN FLOOR PLAN
• SEPARATE LIVING ROOM

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Unpaved parking; Attached garage with 5 spaces (garage present, 5 garage spaces, 5 parking spaces total)
• Security: Smoke detectors
• Utilities: Well water; Septic tank; Water connected
• Home design: Manufactured home; One level (single-story); Entry level: 1
• Construction: Vinyl siding and frame construction; Shingle roof; Permanent foundation; Built as a manufactured home
• Exterior features: Covered patio/porch; Deck; Porch; Workshop; Has a view

Interior

• Kitchen: Electric oven; Dishwasher; Refrigerator
• Bedrooms: Master downstairs
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (heating and cooling); Electric heating; Wood stove heating
• Interior features: Master bedroom on the main level; Entrance foyer; Ceiling fans; Window coverings; Wood burning stove fireplace; Total of 9 rooms
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $360k.

Deal economics

• At list price, monthly cash flow is $10k ($115k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $360k).
• Recommended offer: $349k (3.0% below list) — sets the bar for market timing.
• Cap rate 38.4% vs local median 31.4% in Newport — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 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 $14,874/mo this rent would consume 254% 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 $2k of loan paydown is wiped out by about $11k 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 $101k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($349k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $242k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $349,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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. 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.
4. 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.
5. 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: 4.13% ✓
• Cap rate: 38.35%
• Cash-on-cash: 114.50%
• DSCR: 6.09
• GRM: 2.0

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: —
• Equity multiple: 6.50×
• Total profit: $554,242
• Equity at exit: $53,677

10-year hold

• IRR: —
• Equity multiple: 13.61×
• Total profit: $1,271,432
• Equity at exit: $31,126

Cash invested: $100,800 (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: 2.0×

Monthly cashflow live

• Estimated rent: $14,874 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$95 /mo · $1,135/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,124
• Net cashflow: $9,618

Break-even live

Break-even rent $2,699

Max offer price $360,000

Occupancy floor 30%

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $360,000 Active 37 DOM
2. 2026-06-18
   days on market $360,000 Active 36 DOM
3. 2026-06-17
   days on market $360,000 Active 35 DOM
4. 2026-06-16
   days on market $360,000 Active 34 DOM
5. 2026-06-15
   days on market $360,000 Active 33 DOM
6. 2026-06-14
   days on market $360,000 Active 31 DOM
7. 2026-06-12
   days on market $360,000 Active 30 DOM
8. 2026-06-09
   days on market $360,000 Active 27 DOM
9. 2026-06-09
   price $360,000 Active 26 DOM
10. 2026-06-08
    days on market $375,000 Active 26 DOM
11. 2026-06-07
    days on market $375,000 Active 25 DOM
12. 2026-06-05
    days on market $375,000 Active 22 DOM
13. 2026-06-03
    days on market $375,000 Active 21 DOM
14. 2026-06-02
    days on market $375,000 Active 20 DOM
15. 2026-06-01
    days on market $375,000 Active 19 DOM
16. 2026-05-31
    days on market $375,000 Active 18 DOM
17. 2026-05-30
    days on market $375,000 Active 17 DOM
18. 2026-05-13
    listed $375,000 Active
19. 2021-03-26
    soldstatus $242,000 678-char remark

    Show marketing remark (678 chars)

    Privacy, acreage, tons of space, square footage, Croatan School District and an ENORMOUS GARAGE man cave. The kitchen is HUGE with cabinets galore that spread out with space for the family to gather and cook together. The home has an open floor plan with a separate living room area and a den for extra room to entertain. Enjoy sitting on the front or back porch rocking or swinging away enjoying nature. The best is the large garage (40x50) that can hold 4 cars or just a fun place to gather and entertain friends and family. If you need even more space you can use the additional garage (20x40) for storage. Call us today to get this deal before someone else beats you to it!!

20. 2021-03-24
    soldstatus $242,000
21. 2020-09-01
    listed $260,000 678-char remark

    Show marketing remark (678 chars)

    Privacy, acreage, tons of space, square footage, Croatan School District and an ENORMOUS GARAGE man cave. The kitchen is HUGE with cabinets galore that spread out with space for the family to gather and cook together. The home has an open floor plan with a separate living room area and a den for extra room to entertain. Enjoy sitting on the front or back porch rocking or swinging away enjoying nature. The best is the large garage (40x50) that can hold 4 cars or just a fun place to gather and entertain friends and family. If you need even more space you can use the additional garage (20x40) for storage. Call us today to get this deal before someone else beats you to it!!

ⓘ 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: $1,135 · $95/mo
• Projected year-2 tax: $2,952 · $246/mo
• Expected delta: +$1,817/yr (+$151/mo · 160.1%)

ⓘ 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 ≥102°F today · 20 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: $178,487
• − Mortgage interest: −$20,166
• − Property taxes: −$1,135
• − Insurance: −$1,800
• − Repairs & maintenance: −$14,279
• − Management: −$14,279
• − Depreciation: −$10,473
• Taxable income: $116,356
• Est. tax owed @ 24.0%: −$27,925
• After-tax cash flow: $87,490/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

+44.2% since first listed

4 events — show timeline

• 2026-05-13 Listed $375,000 Hive MLS
• 2021-03-26 Sold (MLS) $242,000 Hive MLS
• 2021-03-24 Sold (Public Records) $242,000 Public Records
• 2020-09-01 Listed $260,000 Hive MLS

Property tax history

+5.5%/yr

Latest (2025): $1,135 · +10.9% YoY. Source: county tax records.