1745 Meadowbrook Ter · Hendersonville, NC 28792

$295,000

5 bd · 2.0 ba · 2,420 sqft · MultiFamily public records · 2 Days on market

Built 1960 0.34 ac lot Est $559k · 47% under

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Why this score? — see what drove the B 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +6.3/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Just 1 mile north of downtown Hendersonville off Hwy 25 at a very convenient location, ~200 yards from Ingles and other businesses on Asheville Hwy. Quiet and peaceful, very walkable neighborhood. Situated on an elevated 0.34-acre lot with plenty of parking spaces. One level living. New floorings, highly efficient mini-split heat pumps for heating and cooling, appliances, among other new things. Did not have flood damage from the largest hurricane Helene in the last 100+ years as the house is situated on an elevated lot at higher elevation than most houses on this street. Concrete building and metal roof - more than twice as strong and durable than most houses. 2 units (2br/1ba and 3br/1ba) or you could have Seller promptly reopen the door in the middle to make a huge house of 5 br/2bath. A lot of space for the price - likely the best duplex deal, a great investment opportunity.

Key facts

• New floorings
• Elevated lot
• Convenient location

Tags

• CONVENIENT LOCATION
• WALKABLE NEIGHBORHOOD
• ELEVATED LOT
• PLENTY OF PARKING SPACES
• NEW FLOORINGS
• MINI-SPLIT HEAT PUMPS

Property features AI

Finance

• HOA & community: No HOA dues; not subject to an HOA

Exterior

• Parking: Driveway parking
• Utilities: City water; Public sewer
• Home design: Single family residence; Site-built construction; One level (single-story); Development completed; Accessibility: two or more access exits
• Construction: Hard stucco exterior; Metal roof; Slab foundation
• Exterior features: Sloped lot; Asphalt paved, publicly maintained road access

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 5 bedrooms located on the main level
• Flooring: Concrete; Laminate; Tile
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Baseboard heating; Ductless heating/cooling (multi units); Electric heating; Hot water heating; Natural gas available; Radiant heating; Other heating details (see remarks)
• Interior features: 6 total rooms; Electric Range; Gas Water Heater; Refrigerator
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in kitchen, utility room and separate laundry room; Multiple laundry locations on the main level

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $786 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Cap rate 9.8% vs local median 3.5% in Hendersonville — 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 77/100 on livability (#29 in NC, #2,939 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime D+, employment D+, commute F.
• Henderson County Schools (suburban): math 48% / reading 52% proficiency, ranked #64 of 178 in NC (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bruce Drysdale Elementary (math 44% / reading 49%, grade D-, #542 of 1,410 statewide, top 39%, 448 students, 64% FRL); Hendersonville High (math 57% / reading 77%, grade B, #142 of 535 statewide, top 28%, 784 students, 43% FRL).
• Market conditions: Rents rising (+3.6%/yr); 364 active listings in the ZIP; 1,534 units permitted in Henderson County in 2024 (558 in 5+ unit buildings).
• At $3,328/mo this rent would consume 72% of the median local household income ($56k/yr) (locally 1420% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Henderson County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $83k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $75k; list at $295k implies a 293% 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 — expect insurance premiums to compound above CPI over the hold.

Recommended offer $295,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.38%
• DSCR: 1.55
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $559,020
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1029 Patton St	0.71mi	4/4.0 (-1)	2,662 (+10%)	15mo	$615,000	$231	25

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 · 3.63% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $4,300
• Equity at exit: $43,985

10-year hold

• IRR: 11.5%
• Equity multiple: 1.93×
• Total profit: $76,730
• Equity at exit: $25,506

Cash invested: $82,600 (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 28792

• Rents YoY: 3.6%
• Active inventory: 364
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $3,328 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$107 /mo · $1,283/yr
• Insurance: −$123
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$699
• Net cashflow: $786

Break-even live

Break-even rent $2,333

Max offer price $295,000

Occupancy floor 71%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,328
Total (2 units)			$3,328

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-20
   status Pending

   Show marketing remark (892 chars)

   Just 1 mile north of downtown Hendersonville off Hwy 25 at a very convenient location, ~200 yards from Ingles and other businesses on Asheville Hwy. Quiet and peaceful, very walkable neighborhood. Situated on an elevated 0.34-acre lot with plenty of parking spaces. One level living. New floorings, highly efficient mini-split heat pumps for heating and cooling, appliances, among other new things. Did not have flood damage from the largest hurricane Helene in the last 100+ years as the house is situated on an elevated lot at higher elevation than most houses on this street. Concrete building and metal roof - more than twice as strong and durable than most houses. 2 units (2br/1ba and 3br/1ba) or you could have Seller promptly reopen the door in the middle to make a huge house of 5 br/2bath. A lot of space for the price - likely the best duplex deal, a great investment opportunity.

2. 2026-05-20
   status Pending 892-char remark

   Show marketing remark (892 chars)

   Just 1 mile north of downtown Hendersonville off Hwy 25 at a very convenient location, ~200 yards from Ingles and other businesses on Asheville Hwy. Quiet and peaceful, very walkable neighborhood. Situated on an elevated 0.34-acre lot with plenty of parking spaces. One level living. New floorings, highly efficient mini-split heat pumps for heating and cooling, appliances, among other new things. Did not have flood damage from the largest hurricane Helene in the last 100+ years as the house is situated on an elevated lot at higher elevation than most houses on this street. Concrete building and metal roof - more than twice as strong and durable than most houses. 2 units (2br/1ba and 3br/1ba) or you could have Seller promptly reopen the door in the middle to make a huge house of 5 br/2bath. A lot of space for the price - likely the best duplex deal, a great investment opportunity.

3. 2026-05-17
   listed $295,000 Active

   Show marketing remark (892 chars)

   Just 1 mile north of downtown Hendersonville off Hwy 25 at a very convenient location, ~200 yards from Ingles and other businesses on Asheville Hwy. Quiet and peaceful, very walkable neighborhood. Situated on an elevated 0.34-acre lot with plenty of parking spaces. One level living. New floorings, highly efficient mini-split heat pumps for heating and cooling, appliances, among other new things. Did not have flood damage from the largest hurricane Helene in the last 100+ years as the house is situated on an elevated lot at higher elevation than most houses on this street. Concrete building and metal roof - more than twice as strong and durable than most houses. 2 units (2br/1ba and 3br/1ba) or you could have Seller promptly reopen the door in the middle to make a huge house of 5 br/2bath. A lot of space for the price - likely the best duplex deal, a great investment opportunity.

4. 2026-05-17
   listed $295,000 Active 892-char remark

   Show marketing remark (892 chars)

   Just 1 mile north of downtown Hendersonville off Hwy 25 at a very convenient location, ~200 yards from Ingles and other businesses on Asheville Hwy. Quiet and peaceful, very walkable neighborhood. Situated on an elevated 0.34-acre lot with plenty of parking spaces. One level living. New floorings, highly efficient mini-split heat pumps for heating and cooling, appliances, among other new things. Did not have flood damage from the largest hurricane Helene in the last 100+ years as the house is situated on an elevated lot at higher elevation than most houses on this street. Concrete building and metal roof - more than twice as strong and durable than most houses. 2 units (2br/1ba and 3br/1ba) or you could have Seller promptly reopen the door in the middle to make a huge house of 5 br/2bath. A lot of space for the price - likely the best duplex deal, a great investment opportunity.

5. 2014-12-03
   soldstatus $75,000 136-char remark

   Show marketing remark (136 chars)

   Former group home ready for residential use, commercial kitchen, handicap access, gas heat, convenient location. City water & sewer.

6. 2014-12-03
   soldstatus $75,000 136-char remark

   Show marketing remark (136 chars)

   Former group home ready for residential use, commercial kitchen, handicap access, gas heat, convenient location. City water & sewer.

7. 2014-11-25
   historical 136-char remark

   Show marketing remark (136 chars)

   Former group home ready for residential use, commercial kitchen, handicap access, gas heat, convenient location. City water & sewer.

8. 2014-11-04
   listed $85,000 136-char remark

   Show marketing remark (136 chars)

   Former group home ready for residential use, commercial kitchen, handicap access, gas heat, convenient location. City water & sewer.

ⓘ 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: $1,283 · $107/mo
• Projected year-2 tax: $2,419 · $202/mo
• Expected delta: +$1,136/yr (+$95/mo · 88.6%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,936
• − Mortgage interest: −$16,525
• − Property taxes: −$1,283
• − Insurance: −$2,272
• − Repairs & maintenance: −$3,195
• − Management: −$3,195
• − Depreciation: −$8,582
• Taxable income: $4,884
• Est. tax owed @ 24.0%: −$1,172
• After-tax cash flow: $8,258/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: Henderson County Schools
• NCES district ID: 3702100
• Math proficiency: 48% ▼ -2.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $47,101
• Composite: 42.5/100
• National rank: #3206
• State rank: #64 of 178 in NC

Livability — Hendersonville

• Score: 77/100
• State rank: #29
• US rank: #2939

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hendersonville, NC
• County: Henderson County · 78,587 people
• City population: 51,753
• Metro: Asheville, NC
• Population (ZIP): 36,645
• Household income: $55,522
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1420.0

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 124,075 people
• By 2030: 129,690 · +4.5%
• By 2040: 139,898 · +12.8%
• By 2050: 148,298 · +19.5%
• By 2075: 163,980 · +32.2%
• By 2100: 166,962 · +34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 20% Two or more races 8% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 82% English-only · Spanish 16%

Political lean MEDSL · Henderson

• 2024 margin: R (+14.6) · D 42.1% · R 56.7% · Other 1.1%
• 2008→2024 swing: +6.5pp toward D · 2008: -21.0pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+18.8 2016: R+27.9 2012: R+27.6 2008: R+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.29%
• Current HPI: 214.0215
• Rent YoY: ▲ 3.63%
• 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

+247.1% since first listed

8 events — show timeline

• 2026-05-20 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-20 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-17 Listed $295,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-17 Listed $295,000 CANOPYMLS as Distributed by MLS Grid
• 2014-12-03 Sold (MLS) $75,000 NCMMLS
• 2014-12-03 Sold (MLS) $75,000 CANOPYMLS as Distributed by MLS Grid
• 2014-11-25 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2014-11-04 Listed $85,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

-5.0%/yr

Latest (2025): $1,283 · +0.0% YoY. Source: county tax records.