67 Earwood Ridge Rd · Asheville, NC 28730

$219,900

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 145 Days on market

Built 2001 2.12 ac lot $176/sqft · 49% below area Est $431k · 49% under ↓ 12% since listing

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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 +17.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Fairview doublewide just waiting for your TLC. Home sits on 2 acres at the top of the ridge in a private setting but is 5 minutes to all shopping and services on 74A. Convenient to Asheville and the Blue Ridge Parkway. A diamond in the rough that can be the perfect house in the woods.

Key facts

• 2 acres
• Blue ridge parkway
• Private setting

Tags

• PRIVATE SETTING
• 2 ACRES
• CONVENIENT TO ASHEVILLE
• BLUE RIDGE PARKWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $220k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (14.8% below list).
• Recommended offer: $187k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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: 142 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 145 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,425 (14.8% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.44%
• DSCR: 1.15
• GRM: 9.8

CMA / ARV

• ARV (median comp): $430,772
• List price: $219,900
• Delta: -48.95%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.9%
• Equity multiple: 0.60×
• Total profit: $-24,500
• Equity at exit: $32,788

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-7,287
• Equity at exit: $19,013

Cash invested: $61,572 (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 28730

• Home prices YoY: -25.6%
• Active inventory: 142
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,874 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$59 /mo · $713/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $176

Break-even live

Break-even rent $1,651

Max offer price $219,900

Occupancy floor 86%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Overton Way Asheville, NC	3.0	2.0	1456	$1,855	$1.27	13d	1	0.51mi
1120 Gashes Ridge Ln Biltmore Forest, NC	1.0–3.0	1.0–2.0	1029	$2,100	$2.04	13d	11	0.82mi
32 Olde Eastwood Village Blvd Asheville, NC	1.0–2.0	1.0–2.0	836	$1,750	$2.09	23d	8	1.09mi
2000 Olde Eastwood Village Blvd Asheville, NC	2.0	2.0	990	$1,695	$1.71	13d	1	1.20mi

Listing history 15 events

1. 2026-06-18
   days on market $219,900 Active 145 DOM
2. 2026-06-17
   days on market $219,900 Active 144 DOM
3. 2026-06-16
   days on market $219,900 Active 143 DOM
4. 2026-06-15
   days on market $219,900 Active 142 DOM
5. 2026-06-14
   days on market $219,900 Active 140 DOM
6. 2026-06-10
   days on market $219,900 Active 137 DOM
7. 2026-06-09
   days on market $219,900 Active 136 DOM
8. 2026-06-08
   days on market $219,900 Active 135 DOM
9. 2026-06-07
   days on market $219,900 Active 134 DOM
10. 2026-06-03
    days on market $219,900 Active 130 DOM
11. 2026-06-02
    days on market $219,900 Active 129 DOM
12. 2026-06-01
    days on market $219,900 Active 128 DOM
13. 2026-04-29
    price $219,900 288-char remark

    Show marketing remark (288 chars)

    A Fairview doublewide just waiting for your TLC. Home sits on 2 acres at the top of the ridge in a private setting but is 5 minutes to all shopping and services on 74A. Convenient to Asheville and the Blue Ridge Parkway. A diamond in the rough that can be the perfect house in the woods.

14. 2026-03-06
    price $229,900 288-char remark

    Show marketing remark (288 chars)

    A Fairview doublewide just waiting for your TLC. Home sits on 2 acres at the top of the ridge in a private setting but is 5 minutes to all shopping and services on 74A. Convenient to Asheville and the Blue Ridge Parkway. A diamond in the rough that can be the perfect house in the woods.

15. 2026-01-22
    listed $249,900 Active 288-char remark

    Show marketing remark (288 chars)

    A Fairview doublewide just waiting for your TLC. Home sits on 2 acres at the top of the ridge in a private setting but is 5 minutes to all shopping and services on 74A. Convenient to Asheville and the Blue Ridge Parkway. A diamond in the rough that can be the perfect house in the woods.

ⓘ 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: $713 · $59/mo
• Projected year-2 tax: $1,803 · $150/mo
• Expected delta: +$1,090/yr (+$91/mo · 152.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 6 d/yr ≥96°F today · 15 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: $22,491
• − Mortgage interest: −$12,318
• − Property taxes: −$713
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,799
• − Management: −$1,799
• − Depreciation: −$6,397
• Taxable loss: −$1,635
• Est. tax savings @ 24.0%: +$392
• After-tax cash flow: $2,510/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

• City population: 137,611
• Population (ZIP): 7,213

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 3% Italian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -99.34%
• Current HPI: 288.6339
• 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

-12.0% since first listed

3 events — show timeline

• 2026-04-29 Price Changed $219,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $229,900 CANOPYMLS as Distributed by MLS Grid
• 2026-01-22 Listed $249,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+0.1%/yr

Latest (2025): $713 · +4.3% YoY. Source: county tax records.