4 Mountain View Rd · Asheville, NC 28805

$369,000

2 bd · 1.0 ba · 790 sqft · Other public records · 2 Days on market

Built 1965 0.84 ac lot

---

Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.5/30.0
• Schools +4.0/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Rare multi-home opportunity in a prime West Asheville location offering flexibility, usable land, and future potential just minutes from everything Asheville has to offer. Located approximately 5 minutes from vibrant Haywood Road in the heart of West Asheville and just over 10 minutes to downtown Asheville’s celebrated music, food, and arts scene, this unique property combines convenience with space and privacy. The charming main bungalow features 2 bedrooms and 1 bath with beautiful hardwood floors, a newer HVAC mini-split system, abundant natural light, and timeless character throughout. Enjoy the inviting sunroom and spacious deck overlooking the peaceful setting. The lower level i

Key facts

• Workshop space
• Double-car garage
• Usable land

Tags

• USABLE LAND
• DOUBLE-CAR GARAGE
• WORKSHOP SPACE
• FLAT HIGHLY BUILDABLE LOT
• ACCESS FROM TWO ROADS

Property features AI

Finance

• Other: Zoned R-3; Lot size approximately 0.84 acres; Directions: Old Haywood Road to Starnes Cove to Pisgah View to McKinney to Mountainview Road (blue house on corner) — first driveway on left, or continue past Mountainview Road to first driveway on right
• HOA & community: No HOA

Exterior

• Parking: 2-car garage with basement access; Driveway parking; Four open parking spaces; Has garage and open parking
• Utilities: City water; Septic system installed
• Home design: Single family residence; Residential property; Second living quarters with separate entrance, separate kitchen, private bath, exterior not connected; One level
• Construction: Site-built construction; Block construction; Composition roof; Basement foundation with walk-out access and basement garage door (unfinished)
• Exterior features: Covered front and rear porches; Fire pit; Partial fencing; Corner lot; Gravel and concrete driveway; Publicly maintained road access; Other outbuildings/structures (see remarks)

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Five bedrooms total (2 on main level; 3 in separate living quarters)
• Bathrooms: Three full bathrooms (1 on main level; 2 in separate living quarters)
• Heating & cooling: Propane heating with baseboard and ductless options; Ductless cooling
• Interior features: Insulated windows; Insulated doors; Electric range; Refrigerator; Washer and dryer included
• Laundry & utility: Washer hookup; Electric dryer hookup; Mud room; Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $369k.

Deal economics

• At list price, monthly cash flow is $-788 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (37.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (52.9% below list).
• Recommended offer: $174k (52.9% below list) — sets the bar for 1% rule.
• Cap rate 3.7% vs local median 2.4% in Asheville — 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 72/100 on livability (#96 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: crime F.
• Buncombe County Schools (suburban): math 45% / reading 50% proficiency, ranked #72 of 178 in NC (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.4%/yr); 167 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Buncombe County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $32k; list at $369k implies a 1035% gain — meaningful room to come down on a strong offer.

Recommended offer $173,683 (52.9% 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. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.47% ✗
• Cap rate: 3.73%
• Cash-on-cash: -9.15%
• DSCR: 0.59
• GRM: 17.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.38% rent growth · sell at horizon

5-year hold

• IRR: -31.5%
• Equity multiple: -0.04×
• Total profit: $-107,719
• Equity at exit: $55,019

10-year hold

• IRR: -30.8%
• Equity multiple: -0.44×
• Total profit: $-148,935
• Equity at exit: $31,904

Cash invested: $103,320 (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 28805

• Rents YoY: 4.4%
• Active inventory: 167
• Price-to-rent: 17.7×

Monthly cashflow live

• Estimated rent: $1,737 high
• Mortgage (P&I): −$1,935
• Tax from tax record: −$71 /mo · $849/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-788

Break-even live

Break-even rent $2,734

Max offer price $229,884

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Canteberi Ct Asheville, NC	1.0–2.0	1.0	799	$1,450	$1.81	44d	1	0.96mi
331 Hi Alta Ave Asheville, NC	3.0	1.0	960	$1,995	$2.08	14d	1	1.13mi
125 River Birch Grove Rd Asheville, NC	1.0–3.0	1.0–2.0	1127	$2,464	$2.18	14d	51	1.16mi
29 Evergreen Ave Asheville, NC	3.0	1.0	981	$1,695	$1.73	23d	1	1.17mi
2 Evergreen Ave Asheville, NC	3.0	1.0	1016	$1,595	$1.57	14d	1	1.23mi
34 Rhudy Rd Unit A Asheville, NC	2.0	1.0	1100	$1,795	$1.63	44d	1	1.23mi
27 Oakdale Dr Candler, NC	2.0	1.0	800	$1,700	$2.12	44d	1	1.25mi

Listing history 15 events

1. 2026-06-18
   days on market $369,000 Active 2 DOM
2. 2026-06-16
   days on marketlisting id $369,000 Active 1 DOM
3. 2026-06-15
   days on market $369,000 Active 19 DOM
4. 2026-06-14
   pricedays on market $369,000 Active 17 DOM
5. 2026-06-10
   days on market $399,000 Active 14 DOM
6. 2026-06-09
   days on market $399,000 Active 13 DOM
7. 2026-06-08
   days on market $399,000 Active 12 DOM
8. 2026-06-07
   days on market $399,000 Active 11 DOM
9. 2026-06-03
   days on market $399,000 Active 7 DOM
10. 2026-06-02
    days on market $399,000 Active 6 DOM
11. 2026-06-01
    days on market $399,000 Active 5 DOM
12. 2026-05-31
    days on market $399,000 Active 4 DOM
13. 2026-05-30
    days on market $399,000 Active 3 DOM
14. 2026-05-26
    historical $399,000
15. 2001-08-02
    soldstatus $32,500

ⓘ 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: $849 · $71/mo
• Projected year-2 tax: $3,026 · $252/mo
• Expected delta: +$2,177/yr (+$181/mo · 256.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥97°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,842
• − Mortgage interest: −$20,670
• − Property taxes: −$849
• − Insurance: −$1,845
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$10,735
• Taxable loss: −$16,591
• Est. tax savings @ 24.0%: +$3,982
• After-tax cash flow: $-5,468/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: Buncombe County Schools
• NCES district ID: 3700450
• Math proficiency: 45% ▬ 0.00%
• Reading proficiency: 50% ▲ 2.00%
• Median HH income: $45,981
• Composite: 40.32/100
• National rank: #3749
• State rank: #72 of 178 in NC

Livability — Asheville

• Score: 72/100
• State rank: #96
• US rank: #6307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Buncombe County · 241,085 people
• City population: 137,611
• Metro: Asheville, NC
• Population (ZIP): 19,993
• Household income: $75,151
• Rent vs Own: 35.9% rent · 64.1% own
• Severe rent burden: 678.0

Population outlook (Buncombe County) Hauer SSP2

• Today (2025): 286,475 people
• By 2030: 302,237 · +5.5%
• By 2040: 330,687 · +15.4%
• By 2050: 356,370 · +24.4%
• By 2075: 409,383 · +42.9%
• By 2100: 437,270 · +52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 8% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Slovak 3% Serbian 3%
• Foreign-born: 7% · Canada
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% Arabic 1%

Political lean MEDSL · Buncombe

• 2024 margin: Strong D (+24.8) · D 61.7% · R 36.9% · Other 1.4%
• 2008→2024 swing: +10.9pp toward D · 2008: 13.9pp · 2024: 24.8pp
• All cycles: 2024: D+24.8 2020: D+21.1 2016: D+14.6 2012: D+12.4 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -333.54%
• Current HPI: 287.7647
• Rent YoY: ▲ 4.38%
• Metro: Asheville, 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

+1127.7% since first listed

2 events — show timeline

• 2026-05-26 Coming Soon $399,000 CANOPYMLS as Distributed by MLS Grid
• 2001-08-02 Sold (Public Records) $32,500 Public Records

Property tax history

+18.0%/yr

Latest (2025): $849 · +14.9% YoY. Source: county tax records.