93 Badger Run · Etowah, NC 28739

$344,500

2 bd · 2.0 ba · 1,616 sqft · Manufactured public records · 357 Days on market

Built 2025 0.77 ac lot $15/mo HOA · 1% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.7/30.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 2 bed (with large bonus room) 2 bath new construction with a unique and convenient floorplan. This home is located in the desired Fountain Trace Community in Henderson County. Located within quick driving distance to downtown Hendersonville restaurants, shops, festivals, healthcare options and much more. You are also located withing reasonable driving distance to nearby towns like Brevard, Saluda, Asheville and Greenville SC. This home is located in an established neighborhood and comes with 2 lots for added privacy. This very practical layout comes with a garage that has a breezeway leading into a large mudroom before getting to the kitchen and bedrooms/living room. Whether you a

Key facts

• Breezeway
• New construction
• Large mudroom

Tags

• NEW CONSTRUCTION
• FOUNTAIN TRACE COMMUNITY
• ESTABLISHED NEIGHBORHOOD
• 2 LOTS
• BREEZEWAY
• LARGE MUDROOM

Property features AI

Finance

• HOA & community: Homeowners association (Fountain Trace HOA) with an annual fee of $180

Exterior

• Parking: Front-facing attached garage with 1 garage space (main-level garage)
• Utilities: Public water; Septic system installed
• Home design: Single-family residence; One level; Site-built construction; New construction
• Construction: Stone and wood exterior; Slab foundation
• Exterior features: Deck; Concrete and paved road access; Private maintained road

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Open living area with a living room fireplace; 1 total additional room
• Laundry & utility: Main-level laundry room with washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $344k.

Deal economics

• At list price, monthly cash flow is $-711 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (36.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (48.4% below list).
• Recommended offer: $178k (48.4% below list) — sets the bar for 1% rule.
• Cap rate 3.8% vs local median 2.5% in Etowah — 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 68/100 on livability (#172 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B+; Watch: amenities F, commute F, health & safety 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: Hendersonville Elementary (math 77% / reading 72%, grade A, #58 of 1,410 statewide, top 5%, 330 students, 32% FRL); Rugby Middle (math 61% / reading 66%, grade B+, #35 of 475 statewide, top 7%, 804 students, 39% FRL); West Henderson High (math 73% / reading 63%, grade B, #137 of 535 statewide, top 26%, 1,087 students, 34% FRL).
• Zoned-school proficiency averages 69% at this address vs 50% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Henderson County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 413 active listings in the ZIP; 1,534 units permitted in Henderson County in 2024 (558 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 $10k 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.

Negotiation context

• It's been on market 357 days — a 12% lower offer ($303k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $125k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $344k implies a 1869% gain — meaningful room to come down on a strong offer.

Recommended offer $177,885 (48.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 357 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.52% ✗
• Cap rate: 3.82%
• Cash-on-cash: -8.85%
• DSCR: 0.61
• GRM: 16.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -32.1%
• Equity multiple: -0.05×
• Total profit: $-101,252
• Equity at exit: $51,366

10-year hold

• IRR: -37.2%
• Equity multiple: -0.52×
• Total profit: $-147,041
• Equity at exit: $29,786

Cash invested: $96,460 (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 28739

• Active inventory: 413
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $1,779 medium
• Mortgage (P&I): −$1,807
• Tax from tax record: −$151 /mo · $1,815/yr
• Insurance: −$144
• HOA: −$15
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-711

Break-even live

Break-even rent $2,679

Max offer price $218,875

Occupancy floor —

Sensitivity live

Price	-10% $-516	-5% $-614	+0% $-711	+5% $-809	+10% $-906
Rent	-10% $-852	-5% $-781	+0% $-711	+5% $-641	+10% $-571
Rate	-1.0pp $-538	-0.5pp $-624	base $-711	+0.5pp $-800	+1.0pp $-891

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: $86,125
• Closing costs: $10,335
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $15 · $180/yr

Listing history 26 events

1. 2026-06-21
   days on market $344,500 Active 357 DOM
2. 2026-06-18
   days on market $344,500 Active 354 DOM
3. 2026-06-17
   days on market $344,500 Active 353 DOM
4. 2026-06-16
   days on market $344,500 Active 352 DOM
5. 2026-06-15
   days on market $344,500 Active 351 DOM
6. 2026-06-14
   days on market $344,500 Active 349 DOM
7. 2026-06-13
   pricedays on market $344,500 Active 348 DOM
8. 2026-06-10
   days on market $349,500 Active 346 DOM
9. 2026-06-09
   days on market $349,500 Active 345 DOM
10. 2026-06-08
    days on market $349,500 Active 344 DOM
11. 2026-06-07
    days on market $349,500 Active 343 DOM
12. 2026-06-05
    days on market $349,500 Active 340 DOM
13. 2026-06-03
    days on market $349,500 Active 339 DOM
14. 2026-06-02
    days on market $349,500 Active 338 DOM
15. 2026-06-01
    days on market $349,500 Active 337 DOM
16. 2026-05-31
    days on market $349,500 Active 336 DOM
17. 2026-05-30
    days on market $349,500 Active 335 DOM
18. 2026-05-26
    status Active
19. 2026-04-19
    historical Active Under Contract
20. 2026-03-18
    price $349,500
21. 2025-12-16
    price $379,900
22. 2025-11-08
    price $399,500
23. 2025-09-29
    price $444,500
24. 2025-09-03
    price $449,500
25. 2025-06-29
    listed $469,500 Active
26. 2022-12-21
    soldstatus $17,500

ⓘ 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: $1,815 · $151/mo
• Projected year-2 tax: $2,825 · $235/mo
• Expected delta: +$1,009/yr (+$84/mo · 55.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,346
• − Mortgage interest: −$19,297
• − Property taxes: −$1,815
• − Insurance: −$1,722
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − HOA: −$180
• − Depreciation: −$10,022
• Taxable loss: −$15,106
• Est. tax savings @ 24.0%: +$3,626
• After-tax cash flow: $-4,908/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 — Etowah

• Score: 68/100
• State rank: #172
• US rank: #9129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Etowah, NC
• City population: 3,386
• Population (ZIP): 20,656

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% Chinese 1%

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: ▼ -171.47%
• Current HPI: 199.0914
• 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

+1897.1% since first listed

9 events — show timeline

• 2026-05-26 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-19 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-03-18 Price Changed $349,500 CANOPYMLS as Distributed by MLS Grid
• 2025-12-16 Price Changed $379,900 CANOPYMLS as Distributed by MLS Grid
• 2025-11-08 Price Changed $399,500 CANOPYMLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $444,500 CANOPYMLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $449,500 CANOPYMLS as Distributed by MLS Grid
• 2025-06-29 Listed $469,500 CANOPYMLS as Distributed by MLS Grid
• 2022-12-21 Sold (Public Records) $17,500 Public Records

Property tax history

+40.4%/yr

Latest (2025): $1,815 · +0.0% YoY. Source: county tax records.