6 Lake Eden Cir · Black Mountain, NC 28711

$249,999

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 66 Days on market

Built 1980 8,712 sqft lot $200/sqft · 36% below area Est $405k · 38% under

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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 +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Livability +4.4/5.0
• Schools +4.0/10.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious home offers a great opportunity for buyers looking to add their personal touches. Solid layout, with separate dining area, living area and den. Large detached garage for the perfect workshop and additional storage shed in the back.

Key facts

• Living area
• Separate dining area
• Detached garage

Tags

• SEPARATE DINING AREA
• LIVING AREA
• DETACHED GARAGE
• ADDITIONAL STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/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 $216k (13.5% below list).
• Recommended offer: $216k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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; 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).
• This rent runs 35% 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 $8k 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 66 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $250k implies a 279% gain — meaningful room to come down on a strong offer.

Recommended offer $216,269 (13.5% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.87% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 9.6

CMA / ARV

• ARV (median comp): $404,711
• List price: $249,999
• Delta: -38.23%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.3%
• Equity multiple: 0.63×
• Total profit: $-26,195
• Equity at exit: $37,276

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-4,704
• Equity at exit: $21,615

Cash invested: $70,000 (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: 9.6×

Monthly cashflow live

• Estimated rent: $2,163 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$67 /mo · $801/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $227

Break-even live

Break-even rent $1,876

Max offer price $249,999

Occupancy floor 85%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $249,999 Active 66 DOM
2. 2026-06-17
   days on market $249,999 Active 65 DOM
3. 2026-06-16
   days on market $249,999 Active 64 DOM
4. 2026-06-15
   days on market $249,999 Active 63 DOM
5. 2026-06-14
   days on market $249,999 Active 61 DOM
6. 2026-06-10
   days on market $249,999 Active 58 DOM
7. 2026-06-09
   days on market $249,999 Active 57 DOM
8. 2026-06-08
   days on market $249,999 Active 56 DOM
9. 2026-06-07
   days on market $249,999 Active 55 DOM
10. 2026-06-03
    pricedays on market $249,999 Active 51 DOM
11. 2026-06-02
    days on market $265,000 Active 50 DOM
12. 2026-06-01
    days on market $265,000 Active 49 DOM
13. 2026-05-31
    days on market $265,000 Active 48 DOM
14. 2026-05-30
    days on market $265,000 Active 47 DOM
15. 2026-05-04
    price $265,000 242-char remark

    Show marketing remark (242 chars)

    Spacious home offers a great opportunity for buyers looking to add their personal touches. Solid layout, with separate dining area, living area and den. Large detached garage for the perfect workshop and additional storage shed in the back.

16. 2026-04-13
    listed $275,000 Active 242-char remark

    Show marketing remark (242 chars)

    Spacious home offers a great opportunity for buyers looking to add their personal touches. Solid layout, with separate dining area, living area and den. Large detached garage for the perfect workshop and additional storage shed in the back.

17. 2019-10-24
    soldstatus $66,000 Closed 273-char remark

    Show marketing remark (273 chars)

    3 bed/2 bath manufactured home in small community. Easy access to Black Mountain or Asheville. Home features a kitchen w/ dining area, living room and den (w/ fireplace), master suite, laundry, and detached storage area. Ready for new owners to renovate and make their own!

18. 2019-10-02
    status Under Contract - No Show 273-char remark

    Show marketing remark (273 chars)

    3 bed/2 bath manufactured home in small community. Easy access to Black Mountain or Asheville. Home features a kitchen w/ dining area, living room and den (w/ fireplace), master suite, laundry, and detached storage area. Ready for new owners to renovate and make their own!

19. 2019-09-19
    listed $65,000 Active 273-char remark

    Show marketing remark (273 chars)

    3 bed/2 bath manufactured home in small community. Easy access to Black Mountain or Asheville. Home features a kitchen w/ dining area, living room and den (w/ fireplace), master suite, laundry, and detached storage area. Ready for new owners to renovate and make their own!

20. 1992-04-16
    soldstatus $48,000

ⓘ 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: $801 · $67/mo
• Projected year-2 tax: $2,050 · $171/mo
• Expected delta: +$1,249/yr (+$104/mo · 156.1%)

ⓘ 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 4/10 Moderate 8 d/yr ≥96°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,952
• − Mortgage interest: −$14,004
• − Property taxes: −$801
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,076
• − Management: −$2,076
• − Depreciation: −$7,273
• Taxable loss: −$1,527
• Est. tax savings @ 24.0%: +$366
• After-tax cash flow: $3,086/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

• 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

+452.1% since first listed

6 events — show timeline

• 2026-05-04 Price Changed $265,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-13 Listed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2019-10-24 Sold (MLS) $66,000 CANOPYMLS as Distributed by MLS Grid
• 2019-10-02 Pending — CANOPYMLS as Distributed by MLS Grid
• 2019-09-19 Listed $65,000 CANOPYMLS as Distributed by MLS Grid
• 1992-04-16 Sold (Public Records) $48,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $801 · +4.6% YoY. Source: county tax records.