15 Oakley Pl · Asheville, NC 28806

$165,000

2 bd · 1.0 ba · 830 sqft · SingleFamily public records · 7 Days on market

Built 1927 9,583 sqft lot ↓ 40% 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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great property with plenty of potential and ready for your personal touch! This home is perfect for those eager to apply some TLC and creative vision to make it truly shine. Ideal for a Family looking to craft their dream space to create many lasting memories! Don’t miss this chance to transform a gem into your masterpiece!

Key facts

• 9,583 sq ft lot
• Built 1927
• Listed 7 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single family residence; Site-built construction; One story; Zoned HR-4:TRAD
• Construction: Wood construction; Crawl space foundation with pillar/post/pier
• Exterior features: Covered patio/porch; Front porch; Rear porch; Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Wood stove; Central air
• Interior features: Seven total rooms; Wood stove heating; Central air conditioning
• Laundry & utility: No laundry room features listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.7% 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.
• Asheville City Schools (urban): math 39% / reading 55% proficiency, ranked #80 of 178 in NC (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hall Fletcher Elementary (math 27% / reading 42%, grade F, #835 of 1,410 statewide, top 62%, 307 students, 58% FRL); Asheville High (math 52% / reading 65%, grade C, #235 of 535 statewide, top 45%, 1,166 students, 33% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents rising (+2.1%/yr); 334 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $5k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.11% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.74%
• DSCR: 1.39
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $369,350
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
67 Howard St	0.06mi	2/2.0	808 (-3%)	1mo	$382,500	$473	88
122 Michigan Ave	0.45mi	2/1.0	793 (-4%)	9mo	$345,000	$435	64
43 Montana Ave	0.36mi	2/1.0	911 (+10%)	10mo	$440,000	$483	59
76 Allen St	0.63mi	2/1.0	865 (+4%)	9mo	$385,000	$445	57
54 Downing St	0.68mi	2/1.0	804 (-3%)	9mo	$372,638	$463	56
366 State St	0.65mi	2/1.5	802 (-3%)	8mo	$310,000	$387	55
364 State St	0.67mi	2/1.0	745 (-10%)	2mo	$287,000	$385	50
310 Riverview Dr	0.46mi	2/1.0	706 (-15%)	14mo	$335,000	$475	42
140 State St	0.63mi	2/1.0	724 (-13%)	9mo	$290,000	$401	42
40 Hudson St	0.74mi	2/2.0	933 (+12%)	0mo	$415,000	$445	41
396 Riverview Dr	0.61mi	3/1.0 (+1)	912 (+10%)	15mo	$385,000	$422	38
166 Hanover St	0.69mi	3/1.0 (+1)	919 (+11%)	11mo	$245,000	$267	36

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 · 2.06% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-7,012
• Equity at exit: $24,602

10-year hold

• IRR: 4.5%
• Equity multiple: 1.32×
• Total profit: $14,614
• Equity at exit: $14,266

Cash invested: $46,200 (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 28806

• Rents YoY: 2.1%
• Active inventory: 334
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,835 high
• Mortgage (P&I): −$865
• Tax from tax record: −$179 /mo · $2,148/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $337

Break-even live

Break-even rent $1,409

Max offer price $165,000

Occupancy floor 77%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Logan Ave Unit B Asheville, NC	2.0	1.0	800	$1,650	$2.06	23d	1	0.46mi
25 Parkman Pl Asheville, NC	2.0	1.0	1000	$2,200	$2.20	23d	1	0.55mi
160 State St Unit 100 Asheville, NC	1.0	1.0	750	$1,559	$2.08	21d	1	0.61mi
127 Bartlett St Asheville, NC	1.0	1.0	730	$952	$1.30	23d	1	0.69mi
146 Roberts St Asheville, NC	1.0–2.0	1.0–2.0	995	$2,578	$2.59	14d	19	0.70mi
146 Stewart St Asheville, NC	3.0	2.0	888	$1,500	$1.69	23d	1	0.76mi
21 Kentucky Dr Asheville, NC	3.0	1.0	864	$1,800	$2.08	23d	1	0.85mi
25 Nevada Ave Unit 201 Asheville, NC	2.0	2.0	960	$1,845	$1.92	14d	1	0.85mi
6 Townview Dr Asheville, NC	3.0	2.0	1100	$1,700	$1.55	43d	1	0.91mi
8 Townview Dr Asheville, NC	3.0	2.0	1100	$1,700	$1.55	43d	1	0.92mi
11 Walton St Asheville, NC	3.0	2.0	1018	$1,995	$1.96	23d	1	0.95mi
275 Hazel Mill Rd Asheville, NC	2.0	2.0	1211	$2,037	$1.68	14d	4	0.98mi
136 Louisiana Ave Unit 1 Asheville, NC	2.0	1.0	1050	$1,450	$1.38	21d	1	0.99mi
136 Louisiana Ave #2 Asheville, NC	1.0	1.0	950	$1,350	$1.42	21d	1	0.99mi
21 Brevard Rd Unit B Asheville, NC	2.0	1.0	1000	$1,700	$1.70	23d	1	1.06mi
360 Hilliard Ave Asheville, NC	1.0–2.0	1.0–2.0	844	$1,800	$2.13	21d	10	1.07mi
363 Hilliard Ave Asheville, NC	2.0	1.0–2.0	809	$2,495	$3.08	14d	14	1.08mi
226 Hilliard Ave Asheville, NC	2.0	1.0–2.0	862	$3,300	$3.83	14d	92	1.24mi
20 Lee Garden Ln Asheville, NC	1.0–3.0	1.0–2.0	880	$1,012	$1.15	14d	11	1.29mi
76 Lanvale Ave Unit 2 Asheville, NC	1.0	1.0	650	$1,350	$2.08	23d	1	1.31mi
3 Lee Garden Ln Asheville, NC	2.0	2.5	1086	$2,500	$2.30	14d	1	1.31mi
919 Haywood Rd Asheville, NC	1.0–2.0	1.0–2.0	1010	$1,950	$1.93	14d	6	1.39mi
145 Biltmore Ave #101 Asheville, NC	1.0	1.0	556	$2,000	$3.60	23d	1	1.48mi
1 Page Ave Asheville, NC	1.0–2.0	1.0–2.0	1609	$4,200	$2.61	14d	5	1.49mi

Listing history 6 events

1. 2026-06-15
   price $165,000 Active 7 DOM
2. 2026-06-15
   days on market $150,000 Active 7 DOM
3. 2026-06-14
   days on market $150,000 Active 5 DOM
4. 2026-06-10
   days on market $150,000 Active 2 DOM
5. 2026-06-09
   remarks 325-char remark
6. 2026-06-09
   listed $150,000 Active 1 DOM

ⓘ 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: $2,148 · $179/mo
• Projected year-2 tax: $2,148 · $179/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°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: $22,018
• − Mortgage interest: −$9,243
• − Property taxes: −$2,148
• − Insurance: −$825
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$4,800
• Taxable income: $1,480
• Est. tax owed @ 24.0%: −$355
• After-tax cash flow: $3,683/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: Asheville City Schools
• NCES district ID: 3700270
• Math proficiency: 39% ▼ -7.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $42,367
• Composite: 39.51/100
• National rank: #3948
• State rank: #80 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

• Census place: Asheville, NC
• County: Buncombe County · 241,085 people
• City population: 137,611
• Metro: Asheville, NC
• Population (ZIP): 43,433
• Household income: $63,273
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 1783.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 11% Two or more races 9% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 3% Slovak 3% Italian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 86% English-only · Spanish 9% Russian/Polish/Slavic 3% Other Indo-European 2%

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: ▼ -271.16%
• Current HPI: 350.3071
• Rent YoY: ▲ 2.06%
• 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

-40.0% since first listed

4 events — show timeline

• 2026-06-08 Listed $150,000 CANOPYMLS as Distributed by MLS Grid
• 2020-01-03 Price Changed $220,000 CANOPYMLS as Distributed by MLS Grid
• 2020-01-03 Price Changed $219,999 CANOPYMLS as Distributed by MLS Grid
• 2019-09-18 Price Changed $249,999 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2025): $2,148 · +6.3% YoY. Source: county tax records.