131 Vinewood Cir · Asheville, NC 28806

$225,000

3 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 21 Days on market

Built 1999 0.33 ac lot

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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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +4.0/10.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 BR, 2 bath home on .33 acre lot, newer roof, large backyard, AHS Home Warranty, property being sold "as-is", front deck and covered back porch, convenient West Asheville location, close to downtown.

Key facts

• Newer stove
• Upgraded flooring
• Newer roof

Tags

• UPGRADED FLOORING
• NEWER REFRIGERATOR
• NEWER STOVE
• NEWER WASHER
• NEWER ROOF
• UPDATED WINDOWS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: City water; Septic system installed
• Home design: Manufactured doublewide single-family residence; One level; R-3 zoning
• Construction: Manufactured construction; Vinyl exterior; Crawl space foundation; Built as a single-level home
• Exterior features: Lot approximately 0.33 acres; Roads are a mix of gravel and paved; Publicly maintained road access

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Gas range; Refrigerator; One main-level living area (open room count: 1)
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/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 $195k (13.5% below list).
• Recommended offer: $195k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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.
• 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: Rents rising (+2.1%/yr); 334 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).
• This rent runs 37% 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 $2k of loan paydown is wiped out by about $7k 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 21 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $116k; list at $225k implies a 94% gain — meaningful room to come down on a strong offer.

Recommended offer $194,718 (13.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.87% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.95%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.06% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.60×
• Total profit: $-25,197
• Equity at exit: $33,548

10-year hold

• IRR: -3.1%
• Equity multiple: 0.80×
• Total profit: $-12,735
• Equity at exit: $19,454

Cash invested: $63,000 (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 28806

• Rents YoY: 2.1%
• Active inventory: 334
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,947 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$57 /mo · $689/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $207

Break-even live

Break-even rent $1,685

Max offer price $225,000

Occupancy floor 84%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 Westover Dr Asheville, NC	3.0	2.0	1170	$2,200	$1.88	23d	1	0.88mi
5 Frankie Ln Asheville, NC	3.0	1.0	912	$2,500	$2.74	43d	1	0.97mi
13 Garden Rd Asheville, NC	3.0	2.0	902	$1,500	$1.66	43d	1	1.19mi
5 Rolos Way Unit 5 Asheville, NC	2.0	2.0	1100	$1,850	$1.68	13d	1	1.22mi
13 Rolos Way Unit 13 Asheville, NC	3.0	3.0	1314	$2,200	$1.67	13d	1	1.23mi
3 W Rosecrest St Unit 3D Woodfin, NC	2.0	1.0	875	$1,400	$1.60	13d	1	1.41mi
3 W Rosecrest St Unit 1C Woodfin, NC	2.0	1.0	875	$1,600	$1.83	13d	1	1.41mi
275 Hazel Mill Rd Asheville, NC	2.0	2.0	1211	$2,037	$1.68	13d	4	1.42mi
8 Townview Dr Asheville, NC	3.0	2.0	1100	$1,700	$1.55	43d	1	1.44mi
6 Townview Dr Asheville, NC	3.0	2.0	1100	$1,700	$1.55	43d	1	1.45mi
1 W Rosecrest St Unit 1C Asheville, NC	2.0	1.0	875	$1,600	$1.83	13d	1	1.45mi
99 Ascension Dr Asheville, NC	1.0–3.0	1.0–2.0	1008	$1,624	$1.61	13d	17	1.50mi

Listing history 19 events

1. 2026-06-18
   days on market $225,000 Active 21 DOM
2. 2026-06-17
   days on market $225,000 Active 20 DOM
3. 2026-06-16
   days on market $225,000 Active 19 DOM
4. 2026-06-15
   days on market $225,000 Active 18 DOM
5. 2026-06-14
   days on market $225,000 Active 16 DOM
6. 2026-06-10
   days on market $225,000 Active 13 DOM
7. 2026-06-09
   days on market $225,000 Active 12 DOM
8. 2026-06-08
   days on market $225,000 Active 11 DOM
9. 2026-06-07
   days on market $225,000 Active 10 DOM
10. 2026-06-03
    days on market $225,000 Active 6 DOM
11. 2026-06-02
    days on market $225,000 Active 5 DOM
12. 2026-06-01
    days on market $225,000 Active 4 DOM
13. 2026-05-31
    days on market $225,000 Active 3 DOM
14. 2026-05-30
    days on market $225,000 Active 2 DOM
15. 2026-05-28
    listed $225,000 Active
16. 2019-12-06
    soldstatus $116,000 Closed 210-char remark

    Show marketing remark (210 chars)

    3 BR, 2 bath home on .33 acre lot, newer roof, large backyard, AHS Home Warranty, property being sold "as-is", front deck and covered back porch, convenient West Asheville location, close to downtown.

17. 2019-12-06
    soldstatus $116,000

    Show marketing remark (210 chars)

    3 BR, 2 bath home on .33 acre lot, newer roof, large backyard, AHS Home Warranty, property being sold "as-is", front deck and covered back porch, convenient West Asheville location, close to downtown.

18. 2019-11-14
    historical Under Contract - Show 210-char remark

    Show marketing remark (210 chars)

    3 BR, 2 bath home on .33 acre lot, newer roof, large backyard, AHS Home Warranty, property being sold "as-is", front deck and covered back porch, convenient West Asheville location, close to downtown.

19. 2019-11-07
    listed $130,000 Active 210-char remark

    Show marketing remark (210 chars)

    3 BR, 2 bath home on .33 acre lot, newer roof, large backyard, AHS Home Warranty, property being sold "as-is", front deck and covered back porch, convenient West Asheville location, close to downtown.

ⓘ 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: $689 · $57/mo
• Projected year-2 tax: $1,845 · $154/mo
• Expected delta: +$1,156/yr (+$96/mo · 167.8%)

ⓘ 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 1/10 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: $23,366
• − Mortgage interest: −$12,603
• − Property taxes: −$689
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,869
• − Management: −$1,869
• − Depreciation: −$6,545
• Taxable loss: −$1,335
• Est. tax savings @ 24.0%: +$320
• After-tax cash flow: $2,807/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 — 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

• 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

+73.1% since first listed

5 events — show timeline

• 2026-05-28 Listed $225,000 CANOPYMLS as Distributed by MLS Grid
• 2019-12-06 Sold (Public Records) $116,000 Public Records
• 2019-12-06 Sold (MLS) $116,000 CANOPYMLS as Distributed by MLS Grid
• 2019-11-14 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2019-11-07 Listed $130,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $689 · +6.7% YoY. Source: county tax records.