150 Piney Ridge Dr · Mountain Home, NC 28791

$100,000

3 bd · 1.5 ba · 960 sqft · Manufactured public records · 111 Days on market

Built 1980 0.35 ac lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Three-bedroom, one bathroom manufactured home on a level lot with front porch and back deck. Outbuilding and fenced backyard. Home needs TLC. IMPORTANT: Home does not have a working septic system and a typical septic system CANNOT be constructed on this property. New owner must use another approved way to handle onsite sewage. Cash purchase. Property sold "as-is" in current condition. No repairs, warranties, or inspections provided by seller. All offers subject to lien holder(s) approval. Buyer proof of funds or pre-qual letter and Short Sale Addendum to contract is required.

Key facts

• 0.35 acre lot
• Built 1980
• Listed 111 days

Property features AI

Finance

• Other: No representation restrictions noted
• HOA & community: No HOA; No community amenities listed

Exterior

• Parking: Driveway parking (no main-level garage)
• Utilities: City water; Septic needed (other sewer notes); Other utilities (see remarks)
• Home design: Manufactured doublewide single-family residence; One story; R2R zoning
• Construction: Manufactured construction; Hardboard siding; Crawl space/pier foundation (permanent); Built as a manufactured home (doublewide)
• Exterior features: Level lot with creek/stream; Back yard fenced with chain link; Outbuilding on the property; Roads are gravel and paved; publicly maintained

Interior

• Kitchen: No kitchen appliances listed
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Laminate; Linoleum
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump for heating and cooling; Other heating/cooling features (see remarks)
• Interior features: 5 total rooms; No built-in appliances listed
• Laundry & utility: Washer hookup on the main level; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.7% vs local median 2.7% in Mountain Home — 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 (#550 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing A, crime B+; Watch: employment C-, amenities F, commute 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: Mills River Elementary (math 66% / reading 60%, grade B, #168 of 1,410 statewide, top 12%, 589 students, 36% FRL); West Henderson High (math 73% / reading 63%, grade B, #137 of 535 statewide, top 26%, 1,087 students, 34% FRL).
• Zoned-school proficiency averages 66% at this address vs 50% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Henderson County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 149 active listings in the ZIP; solid renter incomes; 1,534 units permitted in Henderson County in 2024 (558 in 5+ unit buildings).
• This rent runs 35% 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $91,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% 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: 2.30% ✓
• Cap rate: 20.67%
• Cash-on-cash: 51.34%
• DSCR: 3.28
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 49.2%
• Equity multiple: 3.15×
• Total profit: $60,087
• Equity at exit: $14,910

10-year hold

• IRR: 54.7%
• Equity multiple: 6.38×
• Total profit: $150,531
• Equity at exit: $8,646

Cash invested: $28,000 (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: 3.6×

Monthly cashflow live

• Estimated rent: $2,299 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$52 /mo · $626/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $1,198

Break-even live

Break-even rent $783

Max offer price $100,000

Occupancy floor 43%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $100,000 Active 111 DOM
2. 2026-06-17
   days on market $100,000 Active 110 DOM
3. 2026-06-16
   days on market $100,000 Active 109 DOM
4. 2026-06-15
   days on market $100,000 Active 108 DOM
5. 2026-06-14
   days on market $100,000 Active 106 DOM
6. 2026-06-13
   days on market $100,000 Active 105 DOM
7. 2026-06-10
   days on market $100,000 Active 103 DOM
8. 2026-06-09
   days on market $100,000 Active 102 DOM
9. 2026-06-08
   days on market $100,000 Active 101 DOM
10. 2026-06-07
    days on market $100,000 Active 100 DOM
11. 2026-06-05
    days on market $100,000 Active 97 DOM
12. 2026-06-03
    days on market $100,000 Active 96 DOM
13. 2026-06-02
    days on market $100,000 Active 95 DOM
14. 2026-06-01
    days on market $100,000 Active 94 DOM
15. 2026-05-31
    days on market $100,000 Active 93 DOM
16. 2026-05-30
    days on market $100,000 Active 92 DOM
17. 2026-02-27
    listed $100,000 Active
18. 2025-07-04
    listed $125,000 Active
19. 2017-08-09
    soldstatus $92,000
20. 2005-10-21
    soldstatus $68,000

ⓘ 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: $626 · $52/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$194/yr (+$16/mo · 31.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 18 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: $27,588
• − Mortgage interest: −$5,602
• − Property taxes: −$626
• − Insurance: −$500
• − Repairs & maintenance: −$2,207
• − Management: −$2,207
• − Depreciation: −$2,909
• Taxable income: $13,538
• Est. tax owed @ 24.0%: −$3,249
• After-tax cash flow: $11,127/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 — Mountain Home

• Score: 59/100
• State rank: #550
• US rank: #20251

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mountain Home, NC
• County: Henderson County · 78,587 people
• City population: 43
• 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

+47.1% since first listed

4 events — show timeline

• 2026-02-27 Listed $100,000 CANOPYMLS as Distributed by MLS Grid
• 2025-07-04 Listed $125,000 CANOPYMLS as Distributed by MLS Grid
• 2017-08-09 Sold (Public Records) $92,000 Public Records
• 2005-10-21 Sold (Public Records) $68,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $626 · +0.0% YoY. Source: county tax records.