110 Wilrecar Dr · Black Mountain, NC 28711

$297,700

3 bd · 1.5 ba · 2,400 sqft · SingleFamily public records · 47 Days on market

Built 1971 1.19 ac lot $124/sqft · 60% below area

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Why this score? — see what drove the D 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 +14.3/30.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• DSCR +4.3/10.0
• Schools +4.0/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity on 1.19 acres in Black Mountain! This 3-bedroom, 2.5-bath brick home offers over 2,400 square feet and is ready for renovation, making it a great chance to create something truly special in a highly desirable area. The home features a two-story layout with a spacious footprint and a partially updated lower level. Major exterior updates include a roof approximately 2 years old, and the property is connected to city water and sewer. The interior is currently in need of significant repairs and updates, including kitchen, bathrooms, HVAC installation, and overall cosmetic improvements. Foundation work is also needed. With the right vision, this property has strong potential to be transformed into a beautiful full-time residence, investment property, or mountain retreat. Situated on over an acre, the land offers space, privacy, and flexibility—perfect for those looking to enjoy the outdoors while still being conveniently located near everything Black Mountain has to offer. Property is being sold as-is. Buyer to verify all systems, conditions, and information.

Key facts

• Two-story layout
• 1.19 acres
• 1.19 acre lot

Tags

• 1.19 ACRES
• TWO-STORY LAYOUT
• PARTIALLY UPDATED LOWER LEVEL
• ROOF APPROXIMATELY 2 YEARS OLD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $298k.

Deal economics

• At list price, monthly cash flow is $54 ($647/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 $241k (19.1% below list).
• Recommended offer: $241k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.3% in Black Mountain — 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 87/100 on livability (#2 in NC, #297 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+.
• 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: 302 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).
• This rent runs 39% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 47 days — a 3% lower offer ($289k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $146k; list at $298k implies a 105% gain — meaningful room to come down on a strong offer.

Recommended offer $240,854 (19.1% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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. 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?
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 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: 0.81% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.78%
• DSCR: 1.03
• GRM: 10.3

CMA / ARV

• ARV (median comp): $743,195
• List price: $297,700
• Delta: -59.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Galax Ln	0.12mi	3/2.5	2,535 (+6%)	8mo	$865,000	$341	74
203 Boleyn Dr	0.15mi	4/3.5 (+1)	2,469 (+3%)	4mo	$840,000	$340	72
31 Hillcrest Rd	0.22mi	3/2.5	2,085 (-13%)	6mo	$740,000	$355	59
27 Hillcrest Rd	0.23mi	3/2.5	2,092 (-13%)	6mo	$699,000	$334	58
512 Tenth St	0.57mi	4/2.5 (+1)	2,401 (0%)	13mo	$1,030,000	$429	54
408 S Oconeechee Ave	0.34mi	4/3.5 (+1)	2,532 (+6%)	11mo	$850,000	$336	53
8 Campbell St	0.41mi	4/3.0 (+1)	2,160 (-10%)	1mo	$855,000	$396	53
116 Whispering Wind Dr	0.58mi	3/2.0	2,140 (-11%)	7mo	$865,000	$404	47
520 Tenth St	0.56mi	3/2.5	2,642 (+10%)	12mo	$1,100,000	$416	43
227 S Laurel Circle Dr	0.63mi	3/3.5	2,625 (+9%)	6mo	$635,000	$242	42
107 Walker St	0.62mi	3/2.5	2,055 (-14%)	8mo	$560,000	$273	36
322 Crestview Dr	0.60mi	3/3.0	2,748 (+14%)	11mo	$805,000	$293	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-44,898
• Equity at exit: $44,388

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-35,047
• Equity at exit: $25,740

Cash invested: $83,356 (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 28711

• Active inventory: 302
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,409 medium
• Mortgage (P&I): −$1,561
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $54

Break-even live

Break-even rent $2,340

Max offer price $297,700

Occupancy floor 93%

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: $74,425
• Closing costs: $8,931
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 Holly Ave Black Mountain, NC	4.0	3.0	2582	$3,500	$1.36	44d	1	0.70mi

Listing history 8 events

1. 2026-06-01
   days on market $297,700 Active 47 DOM
2. 2026-05-31
   days on market $297,700 Active 46 DOM
3. 2026-05-30
   days on market $297,700 Active 45 DOM
4. 2026-05-15
   price $297,700 1105-char remark

   Show marketing remark (1105 chars)

   Rare opportunity on 1.19 acres in Black Mountain! This 3-bedroom, 2.5-bath brick home offers over 2,400 square feet and is ready for renovation, making it a great chance to create something truly special in a highly desirable area. The home features a two-story layout with a spacious footprint and a partially updated lower level. Major exterior updates include a roof approximately 2 years old, and the property is connected to city water and sewer. The interior is currently in need of significant repairs and updates, including kitchen, bathrooms, HVAC installation, and overall cosmetic improvements. Foundation work is also needed. With the right vision, this property has strong potential to be transformed into a beautiful full-time residence, investment property, or mountain retreat. Situated on over an acre, the land offers space, privacy, and flexibility—perfect for those looking to enjoy the outdoors while still being conveniently located near everything Black Mountain has to offer. Property is being sold as-is. Buyer to verify all systems, conditions, and information.

5. 2026-04-30
   price $299,700 1105-char remark

   Show marketing remark (1105 chars)

   Rare opportunity on 1.19 acres in Black Mountain! This 3-bedroom, 2.5-bath brick home offers over 2,400 square feet and is ready for renovation, making it a great chance to create something truly special in a highly desirable area. The home features a two-story layout with a spacious footprint and a partially updated lower level. Major exterior updates include a roof approximately 2 years old, and the property is connected to city water and sewer. The interior is currently in need of significant repairs and updates, including kitchen, bathrooms, HVAC installation, and overall cosmetic improvements. Foundation work is also needed. With the right vision, this property has strong potential to be transformed into a beautiful full-time residence, investment property, or mountain retreat. Situated on over an acre, the land offers space, privacy, and flexibility—perfect for those looking to enjoy the outdoors while still being conveniently located near everything Black Mountain has to offer. Property is being sold as-is. Buyer to verify all systems, conditions, and information.

6. 2026-04-23
   price $389,700 1105-char remark

   Show marketing remark (1105 chars)

   Rare opportunity on 1.19 acres in Black Mountain! This 3-bedroom, 2.5-bath brick home offers over 2,400 square feet and is ready for renovation, making it a great chance to create something truly special in a highly desirable area. The home features a two-story layout with a spacious footprint and a partially updated lower level. Major exterior updates include a roof approximately 2 years old, and the property is connected to city water and sewer. The interior is currently in need of significant repairs and updates, including kitchen, bathrooms, HVAC installation, and overall cosmetic improvements. Foundation work is also needed. With the right vision, this property has strong potential to be transformed into a beautiful full-time residence, investment property, or mountain retreat. Situated on over an acre, the land offers space, privacy, and flexibility—perfect for those looking to enjoy the outdoors while still being conveniently located near everything Black Mountain has to offer. Property is being sold as-is. Buyer to verify all systems, conditions, and information.

7. 2026-04-14
   listed $390,000 Active 1105-char remark

   Show marketing remark (1105 chars)

   Rare opportunity on 1.19 acres in Black Mountain! This 3-bedroom, 2.5-bath brick home offers over 2,400 square feet and is ready for renovation, making it a great chance to create something truly special in a highly desirable area. The home features a two-story layout with a spacious footprint and a partially updated lower level. Major exterior updates include a roof approximately 2 years old, and the property is connected to city water and sewer. The interior is currently in need of significant repairs and updates, including kitchen, bathrooms, HVAC installation, and overall cosmetic improvements. Foundation work is also needed. With the right vision, this property has strong potential to be transformed into a beautiful full-time residence, investment property, or mountain retreat. Situated on over an acre, the land offers space, privacy, and flexibility—perfect for those looking to enjoy the outdoors while still being conveniently located near everything Black Mountain has to offer. Property is being sold as-is. Buyer to verify all systems, conditions, and information.

8. 2002-10-10
   soldstatus $145,500

ⓘ 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: $1,963 · $164/mo
• Projected year-2 tax: $2,441 · $203/mo
• Expected delta: +$478/yr (+$40/mo · 24.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,902
• − Mortgage interest: −$16,676
• − Property taxes: −$1,963
• − Insurance: −$1,488
• − Repairs & maintenance: −$2,312
• − Management: −$2,312
• − Depreciation: −$8,660
• Taxable loss: −$4,510
• Est. tax savings @ 24.0%: +$1,082
• After-tax cash flow: $1,729/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 — Black Mountain

• Score: 87/100
• State rank: #2
• US rank: #297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Black Mountain, NC
• County: Buncombe County · 241,085 people
• City population: 12,663
• Metro: Asheville, NC
• Population (ZIP): 12,663
• Household income: $74,761
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 556.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Serbian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1% Other Indo-European 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: ▼ -227.20%
• Current HPI: 314.8029
• Rent YoY: —
• 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

+104.6% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $297,700 CANOPYMLS as Distributed by MLS Grid
• 2026-04-30 Price Changed $299,700 CANOPYMLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $389,700 CANOPYMLS as Distributed by MLS Grid
• 2026-04-14 Listed $390,000 CANOPYMLS as Distributed by MLS Grid
• 2002-10-10 Sold (Public Records) $145,500 Public Records

Property tax history

+0.4%/yr

Latest (2025): $1,963 · -22.2% YoY. Source: county tax records.