550 Saluda St · Balfour, NC 28791

$275,000

3 bd · 1.0 ba · 836 sqft · SingleFamily public records · 120 Days on market

Built 1962 0.54 ac lot Est $266k · at est. ↓ 4% since listing

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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 +13.7/30.0
• ARV discount +6.0/15.0
• DSCR +4.2/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this cozy and inviting 3-bedroom, 1-bath retreat nestled just outside the heart of Hendersonville. Offering 854-square-feet of heated living space plus an additional 208-square-foot unheated enclosed back porch, this delightful home blends comfort, character, and scenic charm. Step inside to discover a bright, open-concept layout that seamlessly connects the kitchen, dining, and living areas—perfect for everyday living and easy entertaining. Large windows throughout the living area flood the interior with natural light, creating a warm and welcoming atmosphere. Enjoy peaceful mornings and relaxing evenings on the spacious front deck, where you can take in multi-season

Key facts

• Wooded lot
• Spacious front deck
• Multi-season views

Tags

• OPEN-CONCEPT LAYOUT
• SPACIOUS FRONT DECK
• MULTI-SEASON VIEWS
• WOODED LOT
• MATURE TREES
• ESTABLISHED SHRUBBERY

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached 2-car garage with automatic door opener; Driveway; Basement access to garage
• Security: Smoke detector(s)
• Utilities: City water; Septic system installed; Electricity connected; Cable available; Phone connected
• Home design: Single-family residence; Site-built construction; One story; R-15 zoning; Additional parcels included
• Construction: Vinyl exterior; Basement foundation
• Exterior features: Front porch (glass enclosed); Sloped, wooded lot; Private maintained gravel road

Interior

• Kitchen: Dishwasher; Gas range
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bath on the main level
• Heating & cooling: Natural gas heat; No central cooling
• Interior features: 8 total rooms; Insulated windows; Basement with exterior entry, garage door access, and storage space; Bath grab bars; Smoke detector(s)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $22 ($260/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 $208k (24.2% below list).
• Recommended offer: $208k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#338 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Henderson County Schools (suburban): math 48% / reading 52% proficiency, ranked #64 of 178 in NC (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bruce Drysdale Elementary (math 44% / reading 49%, grade D-, #542 of 1,410 statewide, top 39%, 448 students, 64% FRL); Hendersonville High (math 57% / reading 77%, grade B, #142 of 535 statewide, top 28%, 784 students, 43% FRL).
• Market conditions: 149 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,534 units permitted in Henderson County in 2024 (558 in 5+ unit buildings).
• This rent runs 32% of the median local income ($79k/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.
• Henderson County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($250k) is reasonable based on typical stale-listing flexibility.

Recommended offer $208,398 (24.2% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.76% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.34%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $265,848
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Longview Dr	0.21mi	2/1.0 (-1)	920 (+10%)	11mo	$289,125	$314	59
404 Ciccone Dr	0.63mi	3/2.0	960 (+15%)	1mo	$307,000	$320	41
2023 Upper Ridgewood Blvd	0.56mi	2/1.0 (-1)	929 (+11%)	13mo	$225,000	$242	40
2120 Arlington Pl	0.60mi	3/1.0	950 (+14%)	20mo	$302,500	$318	33
727 Lyndhurst Dr	0.56mi	2/1.5 (-1)	950 (+14%)	18mo	$324,500	$342	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-43,318
• Equity at exit: $41,003

10-year hold

• IRR: -7.5%
• Equity multiple: 0.53×
• Total profit: $-36,503
• Equity at exit: $23,777

Cash invested: $77,000 (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 28791

• Active inventory: 149
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,084 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$68 /mo · $815/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $22

Break-even live

Break-even rent $2,057

Max offer price $275,000

Occupancy floor 94%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1761 Haywood Manor Rd Hendersonville, NC	2.0	2.0	1080	$1,600	$1.48	13d	1	1.01mi
73 Eastbury Dr Hendersonville, NC	2.0	2.0	1109	$1,775	$1.60	23d	5	1.32mi
1416 Highland Ave Unit A Hendersonville, NC	2.0	1.0	840	$1,350	$1.61	23d	1	1.33mi
1809 Windsor Dr Hendersonville, NC	2.0	2.0	1011	$1,595	$1.58	13d	1	1.33mi
1614 Brevard Rd Hendersonville, NC	2.0	1.0	1050	$1,495	$1.42	23d	1	1.36mi

Listing history 18 events

1. 2026-06-18
   days on market $275,000 Active 120 DOM
2. 2026-06-17
   days on market $275,000 Active 119 DOM
3. 2026-06-16
   days on market $275,000 Active 118 DOM
4. 2026-06-15
   days on market $275,000 Active 117 DOM
5. 2026-06-14
   days on market $275,000 Active 115 DOM
6. 2026-06-13
   days on market $275,000 Active 114 DOM
7. 2026-06-10
   days on market $275,000 Active 112 DOM
8. 2026-06-09
   days on market $275,000 Active 111 DOM
9. 2026-06-08
   days on market $275,000 Active 110 DOM
10. 2026-06-07
    days on market $275,000 Active 109 DOM
11. 2026-06-05
    days on market $275,000 Active 106 DOM
12. 2026-06-03
    days on market $275,000 Active 105 DOM
13. 2026-06-02
    days on market $275,000 Active 104 DOM
14. 2026-06-01
    days on market $275,000 Active 103 DOM
15. 2026-05-31
    days on market $275,000 Active 102 DOM
16. 2026-05-30
    days on market $275,000 Active 101 DOM
17. 2026-05-12
    price $275,000
18. 2026-02-18
    listed $285,000 Active

ⓘ 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: $815 · $68/mo
• Projected year-2 tax: $2,255 · $188/mo
• Expected delta: +$1,440/yr (+$120/mo · 176.6%)

ⓘ 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 3/10 Moderate 6 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,008
• − Mortgage interest: −$15,404
• − Property taxes: −$815
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,001
• − Management: −$2,001
• − Depreciation: −$8,000
• Taxable loss: −$4,588
• Est. tax savings @ 24.0%: +$1,101
• After-tax cash flow: $1,361/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: Henderson County Schools
• NCES district ID: 3702100
• Math proficiency: 48% ▼ -2.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $47,101
• Composite: 42.5/100
• National rank: #3206
• State rank: #64 of 178 in NC

Livability — Balfour

• Score: 64/100
• State rank: #338
• US rank: #13691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henderson County · 78,587 people
• Metro: Asheville, NC
• Population (ZIP): 15,108
• Household income: $78,827
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 253.0

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 124,075 people
• By 2030: 129,690 · +4.5%
• By 2040: 139,898 · +12.8%
• By 2050: 148,298 · +19.5%
• By 2075: 163,980 · +32.2%
• By 2100: 166,962 · +34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 10% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Slovak 3% Serbian 3%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 92% English-only · Spanish 5% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Henderson

• 2024 margin: R (+14.6) · D 42.1% · R 56.7% · Other 1.1%
• 2008→2024 swing: +6.5pp toward D · 2008: -21.0pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+18.8 2016: R+27.9 2012: R+27.6 2008: R+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -160.98%
• Current HPI: 207.4921
• 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

-3.5% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-18 Listed $285,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2025): $815 · +0.0% YoY. Source: county tax records.