129 Harrison St · Swannanoa, NC 28778

$135,000

2 bd · 1.0 ba · 640 sqft · SingleFamily public records · 103 Days on market

Built 1950 5,662 sqft lot $211/sqft · 30% below area Est $196k · 31% under

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Why this score? — see what drove the B- 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.3/10.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to sell. This charming bungalow is waiting for an investor. Located in historic Beacon Village, this home is very close to I40, 15 minutes to Asheville and 10 minutes to Black Mountain. This home needs TLC but can be a good income-producer or a wonderful home for those folks looking to downsize. Home suffered no damage in the hurricane but is being sold AS-IS.

Key facts

• Close to i40
• Minutes to asheville
• Good income producer

Tags

• HISTORIC BEACON VILLAGE
• CLOSE TO I40
• MINUTES TO ASHEVILLE
• MINUTES TO BLACK MOUNTAIN
• GOOD INCOME PRODUCER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.7% in Swannanoa — 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 66/100 on livability (#277 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools F, amenities 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: 74 active listings in the ZIP; 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $45k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.27%
• DSCR: 1.50
• GRM: 7.4

CMA / ARV

• ARV (median comp): $195,818
• List price: $135,000
• Delta: -31.06%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $716
• Equity at exit: $20,129

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $29,642
• Equity at exit: $11,672

Cash invested: $37,800 (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 28778

• Active inventory: 74
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,529 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$88 /mo · $1,060/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $355

Break-even live

Break-even rent $1,079

Max offer price $135,000

Occupancy floor 72%

Sensitivity live

Price	-10% $432	-5% $393	+0% $355	+5% $317	+10% $279
Rent	-10% $234	-5% $295	+0% $355	+5% $416	+10% $476
Rate	-1.0pp $423	-0.5pp $389	base $355	+0.5pp $320	+1.0pp $285

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $135,000 Active 103 DOM
2. 2026-06-17
   days on market $135,000 Active 102 DOM
3. 2026-06-16
   days on market $135,000 Active 101 DOM
4. 2026-06-15
   days on market $135,000 Active 100 DOM
5. 2026-06-14
   pricedays on market $135,000 Active 98 DOM
6. 2026-06-10
   days on market $149,000 Active 95 DOM
7. 2026-06-09
   days on market $149,000 Active 94 DOM
8. 2026-06-08
   days on market $149,000 Active 93 DOM
9. 2026-06-07
   days on market $149,000 Active 92 DOM
10. 2026-06-03
    days on market $149,000 Active 88 DOM
11. 2026-06-02
    days on market $149,000 Active 87 DOM
12. 2026-06-01
    days on market $149,000 Active 86 DOM
13. 2026-05-31
    days on market $149,000 Active 85 DOM
14. 2026-05-30
    days on market $149,000 Active 84 DOM
15. 2026-05-12
    price $149,000 369-char remark

    Show marketing remark (369 chars)

    Priced to sell. This charming bungalow is waiting for an investor. Located in historic Beacon Village, this home is very close to I40, 15 minutes to Asheville and 10 minutes to Black Mountain. This home needs TLC but can be a good income-producer or a wonderful home for those folks looking to downsize. Home suffered no damage in the hurricane but is being sold AS-IS.

16. 2026-04-10
    price $159,900 369-char remark

    Show marketing remark (369 chars)

    Priced to sell. This charming bungalow is waiting for an investor. Located in historic Beacon Village, this home is very close to I40, 15 minutes to Asheville and 10 minutes to Black Mountain. This home needs TLC but can be a good income-producer or a wonderful home for those folks looking to downsize. Home suffered no damage in the hurricane but is being sold AS-IS.

17. 2026-03-07
    listed $179,900 Active 369-char remark

    Show marketing remark (369 chars)

    Priced to sell. This charming bungalow is waiting for an investor. Located in historic Beacon Village, this home is very close to I40, 15 minutes to Asheville and 10 minutes to Black Mountain. This home needs TLC but can be a good income-producer or a wonderful home for those folks looking to downsize. Home suffered no damage in the hurricane but is being sold AS-IS.

18. 2025-11-26
    price $199,400
19. 2025-09-03
    price $170,000
20. 2025-08-14
    price $175,000
21. 2025-08-06
    listed $199,000 Active
22. 2018-04-26
    soldstatus $130,000 Closed
23. 2018-04-26
    soldstatus $130,000
24. 2018-02-06
    historical Under Contract - Show
25. 2018-01-30
    status Active
26. 2018-01-17
    listed Under Contract - Show
27. 2018-01-17
    listed $130,500
28. 1996-09-06
    soldstatus $36,500

ⓘ 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: $1,060 · $88/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$47/yr (+$4/mo · 4.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 10 d/yr ≥90°F today · 28 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,345
• − Mortgage interest: −$7,562
• − Property taxes: −$1,060
• − Insurance: −$675
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − Depreciation: −$3,927
• Taxable income: $2,185
• Est. tax owed @ 24.0%: −$524
• After-tax cash flow: $3,737/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 — Swannanoa

• Score: 66/100
• State rank: #277
• US rank: #12001

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Swannanoa, NC
• County: Buncombe County · 241,085 people
• City population: 13,536
• Metro: Asheville, NC
• Population (ZIP): 13,536
• Household income: $73,408
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 107.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 6% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Romanian 2% Serbian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Chinese 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: ▼ -165.63%
• Current HPI: 283.0627
• 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

+308.2% since first listed

14 events — show timeline

• 2026-05-12 Price Changed $149,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $159,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-07 Listed $179,900 CANOPYMLS as Distributed by MLS Grid
• 2025-11-26 Price Changed $199,400 CANOPYMLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $170,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-14 Price Changed $175,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-06 Listed $199,000 CANOPYMLS as Distributed by MLS Grid
• 2018-04-26 Sold (Public Records) $130,000 Public Records
• 2018-04-26 Sold (MLS) $130,000 CANOPYMLS as Distributed by MLS Grid
• 2018-02-06 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2018-01-30 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2018-01-17 Listed $130,500 CANOPYMLS as Distributed by MLS Grid
• 2018-01-17 Listed — CANOPYMLS as Distributed by MLS Grid
• 1996-09-06 Sold (Public Records) $36,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,060 · +5.9% YoY. Source: county tax records.