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$247,000

For Sale - Active
1215 N Middleton Dr NW Apt 2204, Calabash, NC 28467
2 Beds
2 Baths
1,178 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 22 hours ago
Updated: Aug 21, 2025 at 02:50AM

Investment Summary


Monthly Cash Flow
-$479
Cap Rate
3.4%
Cash-on-Cash Return
-10.1%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-5.8%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Welcome to this stunning coastal retreat in the prestigious Brunswick Plantation community. This beautifully updated two-bedroom, two-bathroom condo offers the perfect blend of comfort and convenience, just minutes from the pristine shores of Sunset Beach. Step inside to discover an abundance of natural light flooding through the windows of this desirable end unit. The fresh paint throughout creates a bright, welcoming atmosphere. A wrap-around covered porch provides the perfect setting for enjoying peaceful views of the scenic pond and community pool area. Recent updates include a new heating and cooling system and water heater (2024), along with modern appliances and light fixtures (2025). The homeowners association has recently installed a new roof (2024), ensuring peace of mind for years to come. Brunswick Plantation delivers an impressive array of amenities for an active lifestyle. Residents enjoy access to both indoor and outdoor swimming pools, a 27-hole golf course, pickleball courts, tennis facilities, well-maintained walking trails, and a fully-equipped fitness room. The clubhouse and meticulously landscaped common areas create an inviting atmosphere for community gatherings. The location couldn't be better - shopping and dining options are just moments away in charming Calabash, known for its fresh seafood restaurants and local boutiques. Golf enthusiasts will appreciate the proximity to numerous championship courses, while beach lovers can easily reach the sandy shores of Sunset Beach for a day of sun and surf. This move-in ready condo presents an exceptional opportunity to own a slice of coastal Carolina living at an attractive price point.

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Location


Property Details


Parking

  • Description: Lighted, Shared, Paved
  • Details: Shared Driveway, Lighted, Paved
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 3
  • # of Stories: 3

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Slab
  • Roof Type: Wood Truss
  • Roof Material: Shingle

HOA

  • Has HOA: Yes
  • Association: Waccamaw Management
  • HOA Fee: $5,616/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 209EF00704
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 2006

Tax Information

  • Annual Tax: $1,008

Utilities

  • Water & Sewer: Public
  • Heating: Heat Pump, Electric
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Brunswick

Listing Details


Listed by:
The Cheek Team
The Cheek Team
(910) 477-4554

Source:
Hive MLS (North Carolina Regional)
MLS#: 100490433
Hive MLS (North Carolina Regional)

Investment Summary


Monthly Cash Flow
-$479
Cap Rate
3.4%
Cash-on-Cash Return
-10.1%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-5.8%

Purchase Details

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Purchase price:
$247,000
Amount financed:
-$197,600
Down payment:
$49,400
Closing costs:
$7,410
Rehab costs:
$0
Initial cash invested:
$56,810
Square feet:
1,178
Cost per square foot:
$210
Monthly rent per square foot:
$1.53

Financing Details

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Loan amount:
$197,600
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,169
Property tax:
$84
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,379

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (5%)
5%-$84-$1,009
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (26%)
26%-$468-$5,616
Total operating expenses: (56%)
56%-$1,002-$12,025

Cash Flow


Monthly Yearly
Net operating income:
$690 $8,280
Mortgage payments:
-$1,169 -$14,028
Cash flow:
$479 $5,748