210 Spring Valley Dr Unit 624 & 625 · Mars Hill, NC 28754

$429,000

2 bd · 3.5 ba · 2,156 sqft · SingleFamily · 150 Days on market

Built 1987 1.48 ac lot Est $578k · 26% under $208/mo HOA · 5% of rent ↓ 12% since listing

---

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 +18.2/30.0
• ARV discount +15.0/15.0
• Appreciation +8.5/10.0
• DSCR +5.7/10.0
• 1% rule +5.5/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 210 Spring Valley, one of the best values inside the gates of Wolf Laurel, sleeping up to 10 and close to skiing, playgrounds, trails, golf course views, and a creek. Wolf Laurel is a highly sought after 5,300 acre, high elevation gated community surrounded by the beauty of the Pisgah National Forest and protected mountain lands. Set on a double lot with golf course views, this freshly painted, move in ready mountain home offers privacy, flexible living space, and easy access to the front gate, the Village Club, playgrounds, stocked trout pond, and Hatley Pointe ski resort. Designed for gathering, relaxing, and mountain adventure, this home lives large, with sleeping space for up

Key facts

• Gated community
• Covered decks
• Double lot

Tags

• GATED COMMUNITY
• GOLF COURSE VIEWS
• DOUBLE LOT
• MAIN LEVEL
• COVERED DECKS
• 24 HOUR SECURITY

Property features AI

Finance

• Other: Road surface is gravel on a privately maintained road; Restrictions apply (see CCRs; includes architectural review, deed restrictions, HOA rules, and others)
• HOA & community: Subject to mandatory HOA (Wolf Laurel RMS / Wolf Laurel POA); Annual association fees (listed amounts provided annually); Community amenities include clubhouse, fitness center, game court, gated access, golf, outdoor pool, picnic area, playground, pond, putting green, recreation area, rooftop terrace, ski slopes, sport court, tennis courts, and walking trails

Exterior

• Parking: Attached garage (garage faces side) with garage door opener — 1 garage space; 4 open parking spaces; Other parking features (see remarks)
• Security: Smoke detector(s); Carbon monoxide detector(s); Security service
• Utilities: Community well water; Septic system installed; Electricity connected; Propane available; Cable available and connected; Fiber optics; Phone connected
• Home design: Single family residence; Site-built construction; Two levels; Two or more access exits; Has additional parcels; Zoned R-2
• Construction: Wood construction materials; Slab foundation; Builder: Wallin Builder's
• Exterior features: Balcony; Covered patio/porch; Deck; Front porch; Other exterior features (see remarks); Partial fencing; Property sits on private, wooded, hilly grounds with views and green area; on golf course

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Exhaust fan; Microwave; Refrigerator; Walk-in pantry
• Bedrooms: 2 bedrooms total (1 on main level, 1 on lower level); Walk-in closet(s)
• Flooring: Laminate; Tile
• Bathrooms: 3 full bathrooms; 1 half bathroom; 2 full baths located on lower level; 1 full and 1 half on main level
• Heating & cooling: Baseboard heating; Floor furnace; Forced air; Propane heating; Window unit(s) for cooling
• Interior features: Open floorplan; Pantry; Walk-in pantry; Storage; Skylight(s); Pocket doors; Insulated doors; 13 total rooms; Has fireplace in the living room (other - see remarks); Basement: other
• Laundry & utility: Washer/Dryer included; Dryer; Laundry room with mud room (lower level)

What this means for you Summary

Snapshot

• This is a 2-bed/3.5-bath single-family listed at $429k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $429k).
• Recommended offer: $378k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.3% in Mars Hill — 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 75/100 on livability (#49 in NC, #4,088 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities D, commute F.
• Madison County Schools (rural): math 51% / reading 56% proficiency, ranked #55 of 178 in NC (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mars Hill Elementary (math 45% / reading 51%, grade D, #477 of 1,410 statewide, top 35%, 500 students, 53% FRL); Madison High School (math 57% / reading 52%, grade C-, #270 of 535 statewide, top 52%, 414 students, 48% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 248 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 209 units permitted in Madison County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $33k of equity ($3k loan paydown + $30k appreciation (6.9% local appreciation)).
• At projected returns (6.9% appreciation + 3.0% rent growth), your $120k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.

Recommended offer $377,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.05% ✓
• Cap rate: 7.36%
• Cash-on-cash: 3.82%
• DSCR: 1.17
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $577,808
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Scenic Wolf Dr	0.60mi	3/3.5 (+1)	2,349 (+9%)	3mo	$610,000	$260	50
151 Scenic Wolf Dr	0.65mi	3/3.5 (+1)	2,261 (+5%)	8mo	$645,000	$285	50
161 Scenic Wolf Dr	0.64mi	3/3.5 (+1)	2,352 (+9%)	1mo	$615,000	$261	49
258 Lucas Ln	0.67mi	3/3.0 (+1)	2,117 (-2%)	14mo	$327,500	$155	47
171 Scenic Wolf Dr	0.64mi	3/3.5 (+1)	2,270 (+5%)	14mo	$662,000	$292	45
166 Cottage Ln #14	0.67mi	3/3.0 (+1)	2,127 (-1%)	20mo	$733,500	$345	43
141 Scenic Wolf Dr	0.66mi	3/3.5 (+1)	2,355 (+9%)	9mo	$640,000	$272	41
60 Laurel Ln	0.61mi	3/2.5 (+1)	1,979 (-8%)	12mo	$545,000	$275	39
1873 El Miner Dr	0.57mi	3/2.0 (+1)	1,886 (-12%)	9mo	$505,000	$268	34
29 Valley Heights Dr	0.57mi	3/3.0 (+1)	2,366 (+10%)	21mo	$624,000	$264	33
527 El Miner Dr	0.51mi	3/2.5 (+1)	1,850 (-14%)	23mo	$430,000	$232	25
101 Oakridge Ct Unit 701/700	0.70mi	3/2.0 (+1)	2,464 (+14%)	14mo	$450,000	$183	21

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 2.43×
• Total profit: $171,847
• Equity at exit: $294,625

10-year hold

• IRR: 19.4%
• Equity multiple: 5.01×
• Total profit: $481,943
• Equity at exit: $557,261

Cash invested: $120,120 (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 28754

• Home prices YoY: 2.3%
• Active inventory: 248
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$2,250
• Tax est. 1.5%: −$536 /mo · $6,435/yr
• Insurance: −$179
• HOA: −$208
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $382

Break-even live

Break-even rent $4,016

Max offer price $429,000

Occupancy floor 86%

Sensitivity live

Price	-10% $679	-5% $531	+0% $382	+5% $234	+10% $86
Rent	-10% $27	-5% $205	+0% $382	+5% $560	+10% $738
Rate	-1.0pp $598	-0.5pp $491	base $382	+0.5pp $271	+1.0pp $158

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2535 El Miner Dr Mars Hill, NC	3.0	3.0	2850	$4,500	$1.58	21d	1	0.58mi

HOA detail

• Monthly dues: $208 · $2,496/yr
• Likely covers: landscapingsecurity

Listing history 18 events

1. 2026-06-19
   days on market $429,000 Active 150 DOM
2. 2026-06-18
   days on market $429,000 Active 149 DOM
3. 2026-06-17
   days on market $429,000 Active 148 DOM
4. 2026-06-16
   days on market $429,000 Active 147 DOM
5. 2026-06-15
   days on market $429,000 Active 146 DOM
6. 2026-06-14
   days on market $429,000 Active 144 DOM
7. 2026-06-12
   days on market $429,000 Active 143 DOM
8. 2026-06-09
   days on market $429,000 Active 140 DOM
9. 2026-06-08
   days on market $429,000 Active 139 DOM
10. 2026-06-07
    days on market $429,000 Active 138 DOM
11. 2026-06-03
    days on market $429,000 Active 134 DOM
12. 2026-06-02
    days on market $429,000 Active 133 DOM
13. 2026-06-01
    days on market $429,000 Active 132 DOM
14. 2026-05-31
    days on market $429,000 Active 131 DOM
15. 2026-05-30
    days on market $429,000 Active 130 DOM
16. 2026-05-22
    price $429,000
17. 2026-04-08
    price $475,000
18. 2026-01-20
    listed $488,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥87°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,000
• − Mortgage interest: −$24,031
• − Property taxes: −$6,435
• − Insurance: −$2,145
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − HOA: −$2,496
• − Depreciation: −$12,480
• Taxable loss: −$2,227
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $5,122/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: Madison County Schools
• NCES district ID: 3702820
• Math proficiency: 51% ▲ 3.00%
• Reading proficiency: 56% ▲ 4.00%
• Median HH income: $39,050
• Composite: 44.62/100
• National rank: #2774
• State rank: #55 of 178 in NC

Livability — Mars Hill

• Score: 75/100
• State rank: #49
• US rank: #4088

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,897

Population outlook (Madison County) Hauer SSP2

• Today (2025): 21,646 people
• By 2030: 21,839 · +0.9%
• By 2040: 22,031 · +1.8%
• By 2050: 22,050 · +1.9%
• By 2075: 22,327 · +3.1%
• By 2100: 21,365 · -1.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 5% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 6% Slovak 4% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+23.5) · D 37.5% · R 61.0% · Other 1.4%
• 2008→2024 swing: -21.9pp toward R · 2008: -1.6pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+23.5 2016: R+25.9 2012: R+9.1 2008: R+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.91%
• Current HPI: 304.2399
• 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

-12.1% since first listed

3 events — show timeline

• 2026-05-22 Price Changed $429,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $475,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-20 Listed $488,000 CANOPYMLS as Distributed by MLS Grid