Blue Ridge Modern Farmhouse Plan · Woodfin, NC 28804

$345,126

3 bd · 3.0 ba · 2,057 sqft · SingleFamily · 766 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 +3.6/30.0
• 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 765 days

Tags

• WRAP AROUND PORCH
• GLASS VIEWING WALL

🏗️ New construction. The $345,126 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $540,912.

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $345k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative.
• To cash-flow at today's rent, offer at most $307k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (22.3% below list).
• Recommended offer: $268k (22.3% 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; 465 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 140d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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 766 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.

Recommended offer $268,332 (22.3% 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 766 days. Have you received any prior offers? Is the seller open to a 22% 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: 0.50% ✗
• Cap rate: 2.70%
• Cash-on-cash: -12.82%
• DSCR: 0.43
• GRM: 16.8

CMA / ARV

• ARV (median comp): $540,912
• List price: $345,126
• Delta: -36.20%
• 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%)	3mo	$495,000	$254	67
34 Knoll Ridge Dr	0.50mi	3/3.0	1,923 (-6%)	3mo	$455,000	$237	63
10 Applecross Rd	0.67mi	3/2.5	2,035 (-1%)	3mo	$475,000	$233	62
29 E Fox Chase Rd	0.48mi	3/2.5	2,075 (+1%)	16mo	$644,500	$311	61
5 Lowry Ln	0.57mi	3/2.0	2,078 (+1%)	14mo	$735,000	$354	56
23 Leisure Mountain Rd	0.28mi	3/2.5	2,280 (+11%)	14mo	$460,000	$202	55
3 Acorn Rd	0.60mi	3/2.0	2,170 (+6%)	10mo	$500,000	$230	50
93 Stoney Hill Ct	0.58mi	3/2.0	1,884 (-8%)	6mo	$456,000	$242	50
4 Highlander Rd	0.40mi	3/2.0	1,812 (-12%)	12mo	$452,500	$250	48
10 Knoll Ridge Dr	0.49mi	3/2.0	1,900 (-8%)	17mo	$425,000	$224	46
203 Barton Rd	0.53mi	4/3.5 (+1)	2,243 (+9%)	9mo	$434,109	$194	45
324 Woody Ln	0.70mi	3/3.0	2,330 (+13%)	13mo	$645,000	$277	34

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: -42.9%
• Equity multiple: -0.30×
• Total profit: $-197,369
• Equity at exit: $80,652

10-year hold

• IRR: -92.1%
• Equity multiple: -1.18×
• Total profit: $-330,504
• Equity at exit: $46,768

Cash invested: $151,455 (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 · 14 under contract
• Months of supply: 7.8 mo (13%/mo absorbed)
• Median asking: $414,333 ($240/sqft)
• Median days on market: 171 d
• This list price: 24% of active listings are priced below it
• ARV vs active asking: +9.6% 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: 465
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,683 medium
• Mortgage (P&I): −$2,837
• Tax est. 1.5%: −$676 /mo · $8,114/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $-1,618

Break-even live

Break-even rent $4,732

Max offer price $306,742

Occupancy floor —

Sensitivity live

Price	-10% $-1,244	-5% $-1,431	+0% $-1,618	+5% $-1,805	+10% $-1,992
Rent	-10% $-1,830	-5% $-1,724	+0% $-1,618	+5% $-1,512	+10% $-1,406
Rate	-1.0pp $-1,346	-0.5pp $-1,481	base $-1,618	+0.5pp $-1,758	+1.0pp $-1,901

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: $135,228
• Closing costs: $16,227
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
191 Cherry Springs Ln Asheville, NC	3.0	3.0	2036	$2,800	$1.38	2d	1	0.31mi
14 Loftin St Weaverville, NC	3.0	2.0	1800	$2,700	$1.50	109d	1	1.15mi
20 Sandstone Dr Weaverville, NC	3.0	2.5	2135	$3,200	$1.50	139d	1	1.23mi
560 Country Oak Dr Asheville, NC	4.0	2.5	1995	$2,850	$1.43	139d	1	1.24mi

Listing history 50 events

1. 2026-09-24
   days on market $345,126 Active 766 DOM
2. 2026-09-23
   days on market $345,126 Active 765 DOM
3. 2026-09-22
   days on market $345,126 Active 764 DOM
4. 2026-09-21
   days on market $345,126 Active 763 DOM
5. 2026-09-20
   days on market $345,126 Active 762 DOM
6. 2026-09-18
   days on market $345,126 Active 760 DOM
7. 2026-09-17
   days on market $345,126 Active 759 DOM
8. 2026-09-16
   days on market $345,126 Active 758 DOM
9. 2026-09-15
   days on market $345,126 Active 757 DOM
10. 2026-09-14
    days on market $345,126 Active 756 DOM
11. 2026-09-13
    days on market $345,126 Active 755 DOM
12. 2026-09-12
    days on market $345,126 Active 754 DOM
13. 2026-09-11
    days on market $345,126 Active 753 DOM
14. 2026-09-05
    days on market $345,126 Active 747 DOM
15. 2026-09-04
    days on market $345,126 Active 746 DOM
16. 2026-09-03
    days on market $345,126 Active 745 DOM
17. 2026-08-30
    days on market $345,126 Active 741 DOM
18. 2026-08-29
    days on market $345,126 Active 740 DOM
19. 2026-08-28
    days on market $345,126 Active 739 DOM
20. 2026-08-27
    days on market $345,126 Active 738 DOM
21. 2026-08-26
    days on market $345,126 Active 737 DOM
22. 2026-08-25
    days on market $345,126 Active 736 DOM
23. 2026-08-24
    days on market $345,126 Active 735 DOM
24. 2026-08-23
    days on market $345,126 Active 734 DOM
25. 2026-08-22
    days on market $345,126 Active 733 DOM
26. 2026-08-21
    days on market $345,126 Active 732 DOM
27. 2026-08-20
    days on market $345,126 Active 731 DOM
28. 2026-08-19
    days on market $345,126 Active 730 DOM
29. 2026-08-18
    days on market $345,126 Active 729 DOM
30. 2026-08-17
    days on market $345,126 Active 728 DOM
31. 2026-08-16
    days on market $345,126 Active 727 DOM
32. 2026-08-15
    days on market $345,126 Active 726 DOM
33. 2026-08-15
    days on market $345,126 Active 725 DOM
34. 2026-08-13
    days on market $345,126 Active 724 DOM
35. 2026-08-12
    days on market $345,126 Active 723 DOM
36. 2026-08-11
    days on market $345,126 Active 722 DOM
37. 2026-08-10
    days on market $345,126 Active 721 DOM
38. 2026-08-09
    days on market $345,126 Active 720 DOM
39. 2026-08-08
    days on market $345,126 Active 719 DOM
40. 2026-08-07
    days on market $345,126 Active 718 DOM
41. 2026-08-06
    days on market $345,126 Active 717 DOM
42. 2026-08-05
    days on market $345,126 Active 716 DOM
43. 2026-08-04
    days on market $345,126 Active 715 DOM
44. 2026-08-03
    days on market $345,126 Active 714 DOM
45. 2026-07-31
    days on market $345,126 Active 711 DOM
46. 2026-07-29
    days on market $345,126 Active 709 DOM
47. 2026-07-27
    days on market $345,126 Active 707 DOM
48. 2026-07-25
    days on market $345,126 Active 705 DOM
49. 2026-07-23
    days on market $345,126 Active 703 DOM
50. 2026-07-22
    days on market $345,126 Active 702 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: $32,200
• − Mortgage interest: −$30,300
• − Property taxes: −$8,114
• − Insurance: −$2,705
• − Repairs & maintenance: −$2,576
• − Management: −$2,576
• − Depreciation: −$15,736
• Taxable loss: −$29,806
• Est. tax savings @ 24.0%: +$7,153
• After-tax cash flow: $-12,266/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%
• 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%

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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