2937 Indian St SW · Holden Beach, NC 28462

$159,000

2 bd · 2.0 ba · 945 sqft · Manufactured · 43 Days on market

Built 1989 5,227 sqft lot Est $168k · 5% 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 +19.7/30.0
• ARV discount +10.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom 2 bath manufactured home located just a short drive to Holden Beach! Inside the hone has new up grades featuring new countertops, updated bathrooms, new flooring, and new insulation in walls. The HVAC is approximately 1 year old and a new hot water heater for peace of mind. Enjoy relaxing outside on the newly screened, screened porch that is perfect for morning coffee or relaxing after a day on the beach. County water is connected, outdoor shed for extra storage, and no HOA fees. Convenient location that's close to golfing, dining, shopping and coastal attactractions. This property is ideal for permanent residence, vacation retreat or an investment opportunity.

Key facts

• 5,227 sq ft lot
• Built 1989
• Listed 43 days

Property features AI

Exterior

• Parking: On-site parking
• Utilities: Public water; Water connected; Septic tank sewer
• Home design: Manufactured home; Single-story (one level); Entry on level 1; Residential property in Boonesboro subdivision
• Construction: Metal siding and frame construction; Metal roof; Built on crawl space
• Exterior features: Porch with screened area; Shed(s) on property; Has a view

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: 4 total rooms (includes bedrooms and living areas)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Pantry; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $154k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.1% in Holden 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 (#334 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, housing A; Watch: cost of living D, health & safety D, amenities 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: Supply Elementary (math 46% / reading 39%, grade F, #625 of 1,410 statewide, top 45%, 539 students, 99% FRL); Cedar Grove Middle (math 30% / reading 36%, grade F, #305 of 475 statewide, top 65%, 434 students, 99% FRL); West Brunswick High (math 50% / reading 56%, grade C-, #281 of 535 statewide, top 53%, 1,526 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: 506 active listings in the ZIP; 6,112 units permitted in Brunswick County in 2024 (990 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 43 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $159k implies a 218% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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: 1.02% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.04%
• DSCR: 1.22
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $168,210
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2387 Jolly Roger Dr SW	0.23mi	2/2.0	938 (-1%)	4mo	$115,000	$123	85
2378 Summer Place Dr SW	0.19mi	2/2.0	875 (-7%)	5mo	$200,000	$229	75
2837 Cross Bones Rd SW	0.22mi	2/2.0	920 (-3%)	12mo	$190,000	$207	75
2361 Lake Paula Dr SW	0.36mi	2/2.0	924 (-2%)	11mo	$188,000	$203	70
2354 Lake Paula Dr SW	0.34mi	2/2.0	900 (-5%)	10mo	$160,000	$178	68
2367 Randy St SW	0.18mi	3/2.0 (+1)	1,050 (+11%)	0mo	$175,000	$167	68
2356 W Tanglewood Dr SW	0.56mi	2/2.0	896 (-5%)	0mo	$243,000	$271	65
2325 Blackbeard Dr SW	0.38mi	3/2.0 (+1)	954 (+1%)	14mo	$145,000	$152	64
2312 N Bluebeard Trl SW	0.44mi	2/2.0	858 (-9%)	6mo	$128,500	$150	59
2425 Oakland St SW	0.52mi	2/2.0	1,000 (+6%)	10mo	$165,000	$165	58
2219 Ontario St	0.67mi	3/2.0 (+1)	968 (+2%)	9mo	$115,000	$119	52
2094 N Tanglewood Dr SW	0.65mi	3/2.0 (+1)	1,054 (+12%)	10mo	$203,400	$193	37

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: -8.4%
• Equity multiple: 0.69×
• Total profit: $-13,829
• Equity at exit: $23,707

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $3,396
• Equity at exit: $13,747

Cash invested: $44,520 (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 28462

• Active inventory: 506
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,628 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $187

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 84%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $159,000 Active 43 DOM
2. 2026-06-17
   days on market $159,000 Active 42 DOM
3. 2026-06-16
   days on market $159,000 Active 41 DOM
4. 2026-06-15
   days on market $159,000 Active 40 DOM
5. 2026-06-14
   days on market $159,000 Active 38 DOM
6. 2026-06-13
   days on market $159,000 Active 37 DOM
7. 2026-06-10
   days on market $159,000 Active 35 DOM
8. 2026-06-09
   days on market $159,000 Active 34 DOM
9. 2026-06-08
   days on market $159,000 Active 33 DOM
10. 2026-06-07
    days on market $159,000 Active 32 DOM
11. 2026-06-05
    days on market $159,000 Active 29 DOM
12. 2026-06-03
    days on market $159,000 Active 28 DOM
13. 2026-06-02
    days on market $159,000 Active 27 DOM
14. 2026-06-01
    days on market $159,000 Active 26 DOM
15. 2026-05-31
    days on market $159,000 Active 25 DOM
16. 2026-05-30
    days on market $159,000 Active 24 DOM
17. 2026-05-06
    listed $159,000 Active
18. 2008-09-09
    soldstatus $50,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $19,532
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$1,563
• − Management: −$1,563
• − Depreciation: −$4,625
• Taxable loss: −$305
• Est. tax savings @ 24.0%: +$73
• After-tax cash flow: $2,318/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 — Holden Beach

• Score: 65/100
• State rank: #334
• US rank: #13586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brunswick County · 131,536 people
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 12,340
• Household income: $60,349
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 269.0

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 (87%)
• Race & ethnicity: White 87% Black 7% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -259.44%
• Current HPI: 144.2462
• Rent YoY: —
• 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

+218.0% since first listed

2 events — show timeline

• 2026-05-06 Listed $159,000 Hive MLS
• 2008-09-09 Sold (Public Records) $50,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $212 · -0.2% YoY. Source: county tax records.