Blue Ridge Modern Farmhouse Plan · Woodfin, NC 28804

$347,611

3 bd · 3.0 ba · 2,057 sqft · SingleFamily · 811 Days on market

Excellent condition ↓ 4% since listing

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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
• Schools +6.3/10.0
• Condition / age +4.8/5.0
• Cash flow +3.4/30.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Refined cabin feel for the country or the mountains with a wrap around porch to enjoy the view. Stay inside and enjoy the view through the beautiful glass viewing wall with a vaulted ceiling in the living room. This plan offers 2 bedrooms on main and a 3rd bedroom with loft on second floor.

Key facts

• Wrap around porch
• Glass viewing wall
• Listed 810 days

Tags

• WRAP AROUND PORCH
• GLASS VIEWING WALL

🏗️ New construction. The $347,611 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $540,464.

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $348k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $300k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (24.6% below list).
• Recommended offer: $262k (24.6% below list) — sets the bar for 1% rule.

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: amenities F, commute F, health & safety 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.
• Zoned schools: Weaverville Elementary (math 57% / reading 67%, grade B, #179 of 1,410 statewide, top 14%, 303 students, 48% FRL); North Buncombe Middle (math 63% / reading 59%, grade B+, #40 of 475 statewide, top 9%, 504 students, 45% FRL); North Buncombe High (math 67% / reading 65%, grade B, #154 of 535 statewide, top 29%, 956 students, 42% FRL) — zoned schools at 45% FRL track the district average.
• Zoned-school proficiency averages 63% at this address vs 48% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Buncombe County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 511 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 155d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 36% 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 $4k of loan paydown is wiped out by about $16k 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 811 days — a 12% lower offer ($306k) is reasonable based on typical stale-listing flexibility.

Recommended offer $262,146 (24.6% 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 811 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.49% ✗
• Cap rate: 2.60%
• Cash-on-cash: -13.20%
• DSCR: 0.41
• GRM: 17.2

CMA / ARV

• ARV (median comp): $540,464
• List price: $347,611
• Delta: -35.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
338 Espen Rdg	0.41mi	3/2.5	1,945 (-5%)	5mo	$495,000	$254	66
3 Quail Cove Rd	0.39mi	3/2.0	1,882 (-8%)	1mo	$415,000	$221	62
34 Knoll Ridge Dr	0.50mi	3/3.0	1,923 (-6%)	4mo	$455,000	$237	62
10 Applecross Rd	0.67mi	3/2.5	2,035 (-1%)	4mo	$475,000	$233	61
52 and 58 Teaberry Ln	0.70mi	3/2.0	2,111 (+3%)	1mo	$675,000	$320	58
5 Lowry Ln	0.57mi	3/2.0	2,078 (+1%)	16mo	$735,000	$354	55
23 Leisure Mountain Rd	0.28mi	3/2.5	2,280 (+11%)	16mo	$460,000	$202	54
3 Acorn Rd	0.60mi	3/2.0	2,170 (+6%)	12mo	$500,000	$230	49
93 Stoney Hill Ct	0.58mi	3/2.0	1,884 (-8%)	8mo	$456,000	$242	48
4 Highlander Rd	0.40mi	3/2.0	1,812 (-12%)	13mo	$452,500	$250	46
203 Barton Rd	0.53mi	4/3.5 (+1)	2,243 (+9%)	11mo	$434,109	$194	44
324 Woody Ln	0.70mi	3/3.0	2,330 (+13%)	15mo	$645,000	$277	33

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 · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -43.7%
• Equity multiple: -0.32×
• Total profit: $-200,059
• Equity at exit: $80,585

10-year hold

• IRR: -94.7%
• Equity multiple: -1.22×
• Total profit: $-336,002
• Equity at exit: $46,729

Cash invested: $151,330 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 17 active · 16 under contract
• Months of supply: 6.8 mo (15%/mo absorbed)
• Median asking: $417,316 ($240/sqft)
• Median days on market: 182 d
• This list price: 24% of active listings are priced below it
• ARV vs active asking: +9.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28804

• Rents YoY: 0.5%
• Active inventory: 511
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,621 high
• Mortgage (P&I): −$2,834
• Tax est. 1.5%: −$676 /mo · $8,107/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $-1,664

Break-even live

Break-even rent $4,728

Max offer price $299,670

Occupancy floor —

Sensitivity live

Price	-10% $-1,291	-5% $-1,477	+0% $-1,664	+5% $-1,851	+10% $-2,038
Rent	-10% $-1,871	-5% $-1,768	+0% $-1,664	+5% $-1,561	+10% $-1,457
Rate	-1.0pp $-1,392	-0.5pp $-1,527	base $-1,664	+0.5pp $-1,804	+1.0pp $-1,947

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: $135,116
• Closing costs: $16,214
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
191 Cherry Springs Ln Asheville, NC	3.0	3.0	2036	$2,700	$1.33	10d	1	0.31mi
327 Heather Ct Asheville, NC	4.0	2.0	1400	$2,600	$1.86	22d	1	0.65mi
14 Loftin St Weaverville, NC	3.0	2.0	1800	$2,700	$1.50	154d	1	1.15mi
20 Sandstone Dr Weaverville, NC	3.0	2.5	2135	$3,200	$1.50	184d	1	1.23mi
560 Country Oak Dr Asheville, NC	4.0	2.5	1995	$2,850	$1.43	184d	1	1.24mi

Listing history 50 events

1. 2026-11-08
   days on market $347,611 Active 811 DOM
2. 2026-11-07
   days on market $347,611 Active 810 DOM
3. 2026-11-06
   days on market $347,611 Active 809 DOM
4. 2026-11-05
   days on market $347,611 Active 808 DOM
5. 2026-11-04
   days on market $347,611 Active 807 DOM
6. 2026-11-02
   days on market $347,611 Active 805 DOM
7. 2026-11-01
   days on market $347,611 Active 804 DOM
8. 2026-10-31
   days on market $347,611 Active 803 DOM
9. 2026-10-30
   days on market $347,611 Active 802 DOM
10. 2026-10-29
    days on market $347,611 Active 801 DOM
11. 2026-10-28
    days on market $347,611 Active 800 DOM
12. 2026-10-27
    days on market $347,611 Active 799 DOM
13. 2026-10-26
    days on market $347,611 Active 798 DOM
14. 2026-10-25
    days on market $347,611 Active 797 DOM
15. 2026-10-24
    days on market $347,611 Active 796 DOM
16. 2026-10-23
    days on market $347,611 Active 795 DOM
17. 2026-10-22
    days on market $347,611 Active 794 DOM
18. 2026-10-21
    days on market $347,611 Active 793 DOM
19. 2026-10-20
    days on market $347,611 Active 792 DOM
20. 2026-10-19
    days on market $347,611 Active 791 DOM
21. 2026-10-18
    days on market $347,611 Active 790 DOM
22. 2026-10-17
    days on market $347,611 Active 789 DOM
23. 2026-10-16
    days on market $347,611 Active 788 DOM
24. 2026-10-15
    days on market $347,611 Active 787 DOM
25. 2026-10-14
    days on market $347,611 Active 786 DOM
26. 2026-10-13
    days on market $347,611 Active 785 DOM
27. 2026-10-12
    pricedays on market $347,611 Active 784 DOM
28. 2026-10-11
    days on market $345,126 Active 783 DOM
29. 2026-10-10
    days on market $345,126 Active 782 DOM
30. 2026-10-09
    days on market $345,126 Active 781 DOM
31. 2026-10-08
    days on market $345,126 Active 780 DOM
32. 2026-10-07
    days on market $345,126 Active 779 DOM
33. 2026-10-06
    days on market $345,126 Active 778 DOM
34. 2026-10-05
    days on market $345,126 Active 777 DOM
35. 2026-10-04
    days on market $345,126 Active 776 DOM
36. 2026-10-04
    days on market $345,126 Active 775 DOM
37. 2026-10-02
    days on market $345,126 Active 774 DOM
38. 2026-10-01
    days on market $345,126 Active 773 DOM
39. 2026-10-01
    days on market $345,126 Active 772 DOM
40. 2026-09-29
    days on market $345,126 Active 771 DOM
41. 2026-09-28
    days on market $345,126 Active 770 DOM
42. 2026-09-27
    days on market $345,126 Active 769 DOM
43. 2026-09-26
    days on market $345,126 Active 768 DOM
44. 2026-09-25
    days on market $345,126 Active 767 DOM
45. 2026-09-24
    days on market $345,126 Active 766 DOM
46. 2026-09-23
    days on market $345,126 Active 765 DOM
47. 2026-09-22
    days on market $345,126 Active 764 DOM
48. 2026-09-21
    days on market $345,126 Active 763 DOM
49. 2026-09-20
    days on market $345,126 Active 762 DOM
50. 2026-09-18
    days on market $345,126 Active 760 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $31,458
• − Mortgage interest: −$30,274
• − Property taxes: −$8,107
• − Insurance: −$2,702
• − Repairs & maintenance: −$2,517
• − Management: −$2,517
• − Depreciation: −$15,723
• Taxable loss: −$30,382
• Est. tax savings @ 24.0%: +$7,292
• After-tax cash flow: $-12,677/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This modern farmhouse is in excellent condition with no visible repairs needed. It offers a great balance of curb appeal and interior updates, making it a strong candidate for both resale and rental markets.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value ↑
• Both interior paint — fresh paint can make a home more appealing ↑
• Both furniture — stylish furniture can make a home more inviting ↑

C Composite school gradezoned avg 63/100

Zoned Schools

Elementary Weaverville Elementary B NC #179/1,410 Nat'l #6,217/41,679 Middle North Buncombe Middle B+ NC #40/475 Nat'l #1,667/14,009 High North Buncombe High B NC #154/535 Nat'l #2,694/17,239

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

D Composite livability gradescore 59/100

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 · 286,475 people
• Metro: Asheville, NC
• Population (ZIP): 25,776
• Household income: $88,312
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 14% of renters

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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%

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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%
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1%

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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

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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

-3.7% since first listed

3 events — show timeline

• 2025-10-20 Price Changed $337,499 Zillow
• 2025-06-11 Price Changed $332,511 Zillow
• 2024-08-19 Listed $350,307 Zillow