429 Sand Dollar Dr · Gloucester, NC 28528

$175,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 95 Days on market

Built 1994 0.48 ac lot Est $253k · 31% 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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• Appreciation +7.1/10.0
• Schools +5.1/10.0
• DSCR +3.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

OPEN FLOOR PLAN IN LIKE NEW CONDITTION. CEDAR SIDING, NEW BACK DECK, OUTSIDE STORAGE SHED INCLUDES STOVE, HOOD, DISHWASHER & REFRIGERATOR IDEAL LOCATION ON A CUL-DA- SAK $1,000 SELLING BONUS TO SA WITH BIC APPROVAL

Key facts

• Coastal area home
• Public boat ramp
• 0.48 acre lot

Tags

• COASTAL AREA HOME
• PUBLIC BOAT RAMP

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Septic tank; Utilities: See remarks
• Home design: Manufactured home; Single-story (one level); Entry on level 1
• Construction: Wood siding and frame construction; Shingle roof
• Exterior features: Deck; Shed(s); Paved road access; No fencing listed

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric heating; Heat pump
• Interior features: Crawl space basement; 5 total rooms; Has a view

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (29.8% below list).
• Recommended offer: $123k (29.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#658 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, 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: Down East Middle And Smyrna Elementary (math 48% / reading 60%, grade C, #328 of 1,410 statewide, top 24%, 249 students, 99% FRL); East Carteret High (math 82% / reading 62%, grade B+, #107 of 535 statewide, top 21%, 530 students, 45% FRL) — zoned schools average 72% FRL vs 39% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 8 active listings in the ZIP; 935 units permitted in Carteret County in 2024 (360 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $7k appreciation (4.2% local appreciation)).
• Carteret County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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 $86k; list at $175k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,778 (29.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 0.70% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.79%
• DSCR: 0.92
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $252,504
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Live Oak St	0.39mi	3/3.0	1,500 (-1%)	9mo	$250,800	$167	69

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.48×
• Total profit: $23,483
• Equity at exit: $90,744

10-year hold

• IRR: 9.9%
• Equity multiple: 2.69×
• Total profit: $82,734
• Equity at exit: $150,050

Cash invested: $49,000 (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 28528

• Home prices YoY: 1.3%
• Active inventory: 8
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,228 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-140

Break-even live

Break-even rent $1,404

Max offer price $150,346

Occupancy floor —

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-09
   days on market $175,000 Active 95 DOM
2. 2026-06-08
   days on market $175,000 Active 94 DOM
3. 2026-06-07
   days on market $175,000 Active 93 DOM
4. 2026-06-05
   days on market $175,000 Active 90 DOM
5. 2026-06-03
   days on market $175,000 Active 89 DOM
6. 2026-06-02
   days on market $175,000 Active 88 DOM
7. 2026-06-01
   days on market $175,000 Active 87 DOM
8. 2026-05-31
   days on market $175,000 Active 86 DOM
9. 2026-05-30
   days on market $175,000 Active 85 DOM
10. 2026-03-04
    listed $175,000 Active
11. 2004-07-30
    soldstatus $85,500 218-char remark

    Show marketing remark (218 chars)

    OPEN FLOOR PLAN IN LIKE NEW CONDITTION. CEDAR SIDING, NEW BACK DECK, OUTSIDE STORAGE SHED INCLUDES STOVE, HOOD, DISHWASHER & REFRIGERATOR IDEAL LOCATION ON A CUL-DA- SAK $1,000 SELLING BONUS TO SA WITH BIC APPROVAL

12. 2004-03-04
    listed $88,500 218-char remark

    Show marketing remark (218 chars)

    OPEN FLOOR PLAN IN LIKE NEW CONDITTION. CEDAR SIDING, NEW BACK DECK, OUTSIDE STORAGE SHED INCLUDES STOVE, HOOD, DISHWASHER & REFRIGERATOR IDEAL LOCATION ON A CUL-DA- SAK $1,000 SELLING BONUS TO SA WITH BIC APPROVAL

ⓘ 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: $629 · $52/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$806/yr (+$67/mo · 128.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $14,733
• − Mortgage interest: −$9,803
• − Property taxes: −$629
• − Insurance: −$1,672
• − Repairs & maintenance: −$1,179
• − Management: −$1,179
• − Depreciation: −$5,091
• Taxable loss: −$4,819
• Est. tax savings @ 24.0%: +$1,157
• After-tax cash flow: $-518/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 — Gloucester

• Score: 55/100
• State rank: #658
• US rank: #23664

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gloucester, NC
• City population: 607
• Population (ZIP): 607

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 (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 1% · Canada

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: ▲ 4.20%
• Current HPI: 329.774
• 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

+97.7% since first listed

3 events — show timeline

• 2026-03-04 Listed $175,000 Hive MLS
• 2004-07-30 Sold (MLS) $85,500 Hive MLS
• 2004-03-04 Listed $88,500 Hive MLS

Property tax history

+4.1%/yr

Latest (2025): $629 · +77.7% YoY. Source: county tax records.