41 W Skyland Cir · Woodfin, NC 28804

$315,000

3 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 66 Days on market

Built 1983 0.26 ac lot $188/sqft · 28% below area Est $436k · 28% 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Schools +4.0/10.0
• 1% rule +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked into a peaceful, tree-lined neighborhood just minutes from downtown Asheville, this thoughtfully updated 3 bed, 2 bath home offers 1,680 sq ft of comfortable living space with a functional, easy-flow layout. Converted to real property. Recent updates include a new roof (2024), HVAC (2025), renovated bathrooms (2024), and new flooring (2024), providing peace of mind for the next owner. The inviting living area features a decorative fireplace, while a dedicated mudroom/laundry space includes washer, dryer, and utility sink hookups for added convenience. Enjoy the screened-in porch overlooking mature trees, creating a private and relaxing setting. Mature landscaping enhances the natural feel and offers a peaceful, low-maintenance outdoor environment. Conveniently located just 6 minutes to downtown Asheville, 5 minutes to Beaver Lake, and 10 minutes to West Asheville. Recent appraisal available; value supports pricing.

Key facts

• Screened in porch
• Renovated bathrooms
• New flooring

Tags

• NEW ROOF
• RENOVATED BATHROOMS
• NEW FLOORING
• SCREENED IN PORCH
• LANDSCAPING ENHANCES PRIVACY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $315k.

Deal economics

• At list price, monthly cash flow is $184 ($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 $258k (18.0% below list).
• Recommended offer: $258k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 2.7% in Woodfin — 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 59/100 on livability (#538 in NC) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A-, cost of living B; Watch: schools F, amenities F, commute 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 flat; 373 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).
• This rent runs 35% of the median local income ($88k/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 $9k 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 ($296k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $29k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $315k implies a 254% gain — meaningful room to come down on a strong offer.

Recommended offer $258,446 (18.0% 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 18% 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.82% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.50%
• DSCR: 1.11
• GRM: 10.2

CMA / ARV

• ARV (median comp): $435,835
• List price: $315,000
• Delta: -27.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.48×
• Total profit: $-45,954
• Equity at exit: $46,968

10-year hold

• IRR: -10.5%
• Equity multiple: 0.42×
• Total profit: $-50,725
• Equity at exit: $27,235

Cash invested: $88,200 (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 28804

• Rents YoY: 0.5%
• Active inventory: 373
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,584 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$75 /mo · $901/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $184

Break-even live

Break-even rent $2,352

Max offer price $315,000

Occupancy floor 88%

Sensitivity live

Price	-10% $362	-5% $273	+0% $184	+5% $94	+10% $5
Rent	-10% $-21	-5% $81	+0% $184	+5% $286	+10% $388
Rate	-1.0pp $342	-0.5pp $264	base $184	+0.5pp $102	+1.0pp $19

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33 Skyland Cir Asheville, NC	3.0	1.5	1224	$2,800	$2.29	44d	1	0.07mi
130 N Ridge Dr Woodfin, NC	1.0–3.0	1.0–2.0	975	$1,900	$1.95	14d	20	0.55mi
10 Newbridge Pkwy Woodfin, NC	1.0–3.0	1.0–2.0	927	$1,969	$2.12	14d	38	0.66mi
61 N Merrimon Ave Asheville, NC	1.0–2.0	1.0–2.0	993	$1,720	$1.73	14d	8	0.79mi
207 Riverside View Dr Asheville, NC	3.0	3.0	2000	$2,895	$1.45	44d	1	0.92mi
1337 Merrimon Ave Asheville, NC	2.0	4.0	2159	$4,600	$2.13	44d	1	1.07mi

Listing history 21 events

1. 2026-06-15
   days on market $315,000 Active 66 DOM
2. 2026-06-14
   days on market $315,000 Active 64 DOM
3. 2026-06-10
   days on market $315,000 Active 61 DOM
4. 2026-06-09
   days on market $315,000 Active 60 DOM
5. 2026-06-08
   days on market $315,000 Active 59 DOM
6. 2026-06-07
   days on market $315,000 Active 58 DOM
7. 2026-06-03
   pricedays on market $315,000 Active 54 DOM
8. 2026-06-02
   days on market $329,000 Active 53 DOM
9. 2026-06-01
   days on market $329,000 Active 52 DOM
10. 2026-05-31
    days on market $329,000 Active 51 DOM
11. 2026-05-30
    days on market $329,000 Active 50 DOM
12. 2026-04-20
    price $329,000 935-char remark

    Show marketing remark (935 chars)

    Tucked into a peaceful, tree-lined neighborhood just minutes from downtown Asheville, this thoughtfully updated 3 bed, 2 bath home offers 1,680 sq ft of comfortable living space with a functional, easy-flow layout. Converted to real property. Recent updates include a new roof (2024), HVAC (2025), renovated bathrooms (2024), and new flooring (2024), providing peace of mind for the next owner. The inviting living area features a decorative fireplace, while a dedicated mudroom/laundry space includes washer, dryer, and utility sink hookups for added convenience. Enjoy the screened-in porch overlooking mature trees, creating a private and relaxing setting. Mature landscaping enhances the natural feel and offers a peaceful, low-maintenance outdoor environment. Conveniently located just 6 minutes to downtown Asheville, 5 minutes to Beaver Lake, and 10 minutes to West Asheville. Recent appraisal available; value supports pricing.

13. 2026-04-10
    listed $344,000 Active 935-char remark

    Show marketing remark (935 chars)

    Tucked into a peaceful, tree-lined neighborhood just minutes from downtown Asheville, this thoughtfully updated 3 bed, 2 bath home offers 1,680 sq ft of comfortable living space with a functional, easy-flow layout. Converted to real property. Recent updates include a new roof (2024), HVAC (2025), renovated bathrooms (2024), and new flooring (2024), providing peace of mind for the next owner. The inviting living area features a decorative fireplace, while a dedicated mudroom/laundry space includes washer, dryer, and utility sink hookups for added convenience. Enjoy the screened-in porch overlooking mature trees, creating a private and relaxing setting. Mature landscaping enhances the natural feel and offers a peaceful, low-maintenance outdoor environment. Conveniently located just 6 minutes to downtown Asheville, 5 minutes to Beaver Lake, and 10 minutes to West Asheville. Recent appraisal available; value supports pricing.

14. 2024-03-05
    soldstatus $89,000 Closed 277-char remark

    Show marketing remark (277 chars)

    INVESTOR ALERT in Woodfin! 0.25 acre lot with driveway and fenced yard. Doublewide on property will likely need to be removed due to active leaks and roof issues. City water and sewer available. Land loans possible if buyer is willing to remove the doublewide prior to closing.

15. 2024-03-05
    soldstatus $89,000

    Show marketing remark (277 chars)

    INVESTOR ALERT in Woodfin! 0.25 acre lot with driveway and fenced yard. Doublewide on property will likely need to be removed due to active leaks and roof issues. City water and sewer available. Land loans possible if buyer is willing to remove the doublewide prior to closing.

16. 2024-02-03
    status Pending 277-char remark

    Show marketing remark (277 chars)

    INVESTOR ALERT in Woodfin! 0.25 acre lot with driveway and fenced yard. Doublewide on property will likely need to be removed due to active leaks and roof issues. City water and sewer available. Land loans possible if buyer is willing to remove the doublewide prior to closing.

17. 2024-01-29
    price $79,900 277-char remark

    Show marketing remark (277 chars)

    INVESTOR ALERT in Woodfin! 0.25 acre lot with driveway and fenced yard. Doublewide on property will likely need to be removed due to active leaks and roof issues. City water and sewer available. Land loans possible if buyer is willing to remove the doublewide prior to closing.

18. 2024-01-29
    listed $80,000 Active 277-char remark

    Show marketing remark (277 chars)

    INVESTOR ALERT in Woodfin! 0.25 acre lot with driveway and fenced yard. Doublewide on property will likely need to be removed due to active leaks and roof issues. City water and sewer available. Land loans possible if buyer is willing to remove the doublewide prior to closing.

19. 2001-04-20
    soldstatus $61,800
20. 1997-10-03
    soldstatus $45,000
21. 1991-05-28
    soldstatus $40,000

ⓘ 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: $901 · $75/mo
• Projected year-2 tax: $2,583 · $215/mo
• Expected delta: +$1,682/yr (+$140/mo · 186.8%)

ⓘ 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 3/10 Moderate
• 🌡 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: $31,014
• − Mortgage interest: −$17,645
• − Property taxes: −$901
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,481
• − Management: −$2,481
• − Depreciation: −$9,164
• Taxable loss: −$3,233
• Est. tax savings @ 24.0%: +$776
• After-tax cash flow: $2,978/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 — Woodfin

• Score: 59/100
• State rank: #538
• US rank: #19731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodfin, NC
• County: Buncombe County · 241,085 people
• Metro: Asheville, NC
• Population (ZIP): 25,776
• Household income: $88,312
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 396.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 9% Hispanic / Latino 8% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 5% Lithuanian 4% Serbian 3%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 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: ▼ -410.50%
• Current HPI: 333.3821
• Rent YoY: ▲ 0.46%
• 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

+722.5% since first listed

10 events — show timeline

• 2026-04-20 Price Changed $329,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-10 Listed $344,000 CANOPYMLS as Distributed by MLS Grid
• 2024-03-05 Sold (Public Records) $89,000 Public Records
• 2024-03-05 Sold (MLS) $89,000 CANOPYMLS as Distributed by MLS Grid
• 2024-02-03 Pending — CANOPYMLS as Distributed by MLS Grid
• 2024-01-29 Price Changed $79,900 CANOPYMLS as Distributed by MLS Grid
• 2024-01-29 Listed $80,000 CANOPYMLS as Distributed by MLS Grid
• 2001-04-20 Sold (Public Records) $61,800 Public Records
• 1997-10-03 Sold (Public Records) $45,000 Public Records
• 1991-05-28 Sold (Public Records) $40,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $901 · -18.9% YoY. Source: county tax records.