11 Gertrude Ln · Asheville, NC 28715

$249,900

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 142 Days on market

Built 1994 0.55 ac lot $159/sqft · 34% below area Est $377k · 34% under ↓ 17% since listing

---

Why this score? — see what drove the C+ 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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.3/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity! Priced to sell at $249,900. This 3-bedroom, 2-bath, 1,568 HLA manufactured home sits on a peaceful .55-acre hilltop lot in sought-after Candler, just minutes to West Asheville, downtown, and interstate access. Features include a solid masonry foundation, no HOA, updated kitchen with granite countertops and island, renovated bathrooms, and a 10-year-old roof. Enjoy mountain breezes from the front deck with potential for enhanced views. Property is being sold as-is, where-is. Manufactured home with VIN verification in progress. Access via privately maintained road; no recorded maintenance agreement found—buyer to verify. Some title items in process. Great opportunity for a buyer seeking value and a quick closing.

Key facts

• Recent upgrades
• Front deck
• Renovated bathrooms

Tags

• SOLID MASONRY FOUNDATION
• RECENT UPGRADES
• UPDATED KITCHEN
• RENOVATED BATHROOMS
• FRONT DECK
• RENTAL INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/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 $233k (6.6% below list).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.4% in Asheville — 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 72/100 on livability (#96 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: crime 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: 183 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).
• This rent runs 39% of the median local income ($72k/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 $7k 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 142 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.93% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (median comp): $376,892
• List price: $249,900
• Delta: -33.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-16,432
• Equity at exit: $37,261

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $16,325
• Equity at exit: $21,607

Cash invested: $69,972 (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 28715

• Active inventory: 183
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,334 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$49 /mo · $593/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $380

Break-even live

Break-even rent $1,853

Max offer price $249,900

Occupancy floor 79%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
354 Tavernier Ln Candler, NC	4.0	2.5	1998	$2,695	$1.35	13d	1	0.97mi
95 Malcolm Ct Candler, NC	3.0	2.5	1375	$2,100	$1.53	43d	1	1.37mi
317 Pritchard Rd Unit 317 Candler, NC	2.0	1.0	1260	$1,550	$1.23	23d	1	1.40mi
40 Wayward Path Candler, NC	3.0	2.5	1720	$1,895	$1.10	43d	1	1.40mi
34 Malcolm Ct Candler, NC	3.0	2.5	1375	$2,100	$1.53	13d	1	1.42mi
729 Asbury Rd Candler, NC	3.0	2.0	1600	$1,950	$1.22	43d	1	1.43mi
223 Cherrywood Way Asheville, NC	4.0	3.0	1607	$2,850	$1.77	43d	1	1.43mi
228 Cherrywood Way Asheville, NC	4.0	3.0	1706	$2,850	$1.67	43d	1	1.45mi
125 River Birch Grove Rd Asheville, NC	1.0–3.0	1.0–2.0	1127	$3,527	$3.13	13d	51	1.46mi
332 Blossom Bend Ln Asheville, NC	4.0	3.0	1607	$2,500	$1.56	13d	18	1.47mi
247 Cherrywood Way Asheville, NC	4.0	3.0	1607	$2,250	$1.40	43d	1	1.49mi
85 Aurora Vista Dr Asheville, NC	4.0	2.0	1200	$2,850	$2.38	43d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $249,900 Active 142 DOM
2. 2026-06-17
   days on market $249,900 Active 141 DOM
3. 2026-06-16
   days on market $249,900 Active 140 DOM
4. 2026-06-15
   days on market $249,900 Active 139 DOM
5. 2026-06-14
   days on market $249,900 Active 137 DOM
6. 2026-06-10
   days on market $249,900 Active 134 DOM
7. 2026-06-09
   days on market $249,900 Active 133 DOM
8. 2026-06-08
   days on market $249,900 Active 132 DOM
9. 2026-06-07
   days on market $249,900 Active 131 DOM
10. 2026-06-03
    days on market $249,900 Active 127 DOM
11. 2026-06-02
    days on market $249,900 Active 126 DOM
12. 2026-06-01
    days on market $249,900 Active 125 DOM
13. 2026-05-31
    days on market $249,900 Active 124 DOM
14. 2026-05-30
    days on market $249,900 Active 123 DOM
15. 2026-05-04
    price $249,900 748-char remark

    Show marketing remark (748 chars)

    Investor opportunity! Priced to sell at $249,900. This 3-bedroom, 2-bath, 1,568 HLA manufactured home sits on a peaceful .55-acre hilltop lot in sought-after Candler, just minutes to West Asheville, downtown, and interstate access. Features include a solid masonry foundation, no HOA, updated kitchen with granite countertops and island, renovated bathrooms, and a 10-year-old roof. Enjoy mountain breezes from the front deck with potential for enhanced views. Property is being sold as-is, where-is. Manufactured home with VIN verification in progress. Access via privately maintained road; no recorded maintenance agreement found—buyer to verify. Some title items in process. Great opportunity for a buyer seeking value and a quick closing.

16. 2026-04-21
    price $269,900 748-char remark

    Show marketing remark (748 chars)

    Investor opportunity! Priced to sell at $249,900. This 3-bedroom, 2-bath, 1,568 HLA manufactured home sits on a peaceful .55-acre hilltop lot in sought-after Candler, just minutes to West Asheville, downtown, and interstate access. Features include a solid masonry foundation, no HOA, updated kitchen with granite countertops and island, renovated bathrooms, and a 10-year-old roof. Enjoy mountain breezes from the front deck with potential for enhanced views. Property is being sold as-is, where-is. Manufactured home with VIN verification in progress. Access via privately maintained road; no recorded maintenance agreement found—buyer to verify. Some title items in process. Great opportunity for a buyer seeking value and a quick closing.

17. 2026-03-25
    status Active 748-char remark

    Show marketing remark (748 chars)

    Investor opportunity! Priced to sell at $249,900. This 3-bedroom, 2-bath, 1,568 HLA manufactured home sits on a peaceful .55-acre hilltop lot in sought-after Candler, just minutes to West Asheville, downtown, and interstate access. Features include a solid masonry foundation, no HOA, updated kitchen with granite countertops and island, renovated bathrooms, and a 10-year-old roof. Enjoy mountain breezes from the front deck with potential for enhanced views. Property is being sold as-is, where-is. Manufactured home with VIN verification in progress. Access via privately maintained road; no recorded maintenance agreement found—buyer to verify. Some title items in process. Great opportunity for a buyer seeking value and a quick closing.

18. 2026-03-17
    historical Active Under Contract 748-char remark

    Show marketing remark (748 chars)

    Investor opportunity! Priced to sell at $249,900. This 3-bedroom, 2-bath, 1,568 HLA manufactured home sits on a peaceful .55-acre hilltop lot in sought-after Candler, just minutes to West Asheville, downtown, and interstate access. Features include a solid masonry foundation, no HOA, updated kitchen with granite countertops and island, renovated bathrooms, and a 10-year-old roof. Enjoy mountain breezes from the front deck with potential for enhanced views. Property is being sold as-is, where-is. Manufactured home with VIN verification in progress. Access via privately maintained road; no recorded maintenance agreement found—buyer to verify. Some title items in process. Great opportunity for a buyer seeking value and a quick closing.

19. 2026-02-22
    price $289,900 748-char remark

    Show marketing remark (748 chars)

    Investor opportunity! Priced to sell at $249,900. This 3-bedroom, 2-bath, 1,568 HLA manufactured home sits on a peaceful .55-acre hilltop lot in sought-after Candler, just minutes to West Asheville, downtown, and interstate access. Features include a solid masonry foundation, no HOA, updated kitchen with granite countertops and island, renovated bathrooms, and a 10-year-old roof. Enjoy mountain breezes from the front deck with potential for enhanced views. Property is being sold as-is, where-is. Manufactured home with VIN verification in progress. Access via privately maintained road; no recorded maintenance agreement found—buyer to verify. Some title items in process. Great opportunity for a buyer seeking value and a quick closing.

20. 2026-01-27
    listed $299,999 Active 748-char remark

    Show marketing remark (748 chars)

    Investor opportunity! Priced to sell at $249,900. This 3-bedroom, 2-bath, 1,568 HLA manufactured home sits on a peaceful .55-acre hilltop lot in sought-after Candler, just minutes to West Asheville, downtown, and interstate access. Features include a solid masonry foundation, no HOA, updated kitchen with granite countertops and island, renovated bathrooms, and a 10-year-old roof. Enjoy mountain breezes from the front deck with potential for enhanced views. Property is being sold as-is, where-is. Manufactured home with VIN verification in progress. Access via privately maintained road; no recorded maintenance agreement found—buyer to verify. Some title items in process. Great opportunity for a buyer seeking value and a quick closing.

ⓘ 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: $593 · $49/mo
• Projected year-2 tax: $2,049 · $171/mo
• Expected delta: +$1,456/yr (+$121/mo · 245.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,008
• − Mortgage interest: −$13,998
• − Property taxes: −$593
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,241
• − Management: −$2,241
• − Depreciation: −$7,270
• Taxable income: $416
• Est. tax owed @ 24.0%: −$100
• After-tax cash flow: $4,458/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 — Asheville

• Score: 72/100
• State rank: #96
• US rank: #6307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Buncombe County · 241,085 people
• City population: 137,611
• Metro: Asheville, NC
• Population (ZIP): 30,328
• Household income: $71,716
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 419.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 4% Lithuanian 3% Serbian 3%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 6% Russian/Polish/Slavic 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: ▼ -154.92%
• Current HPI: 255.1985
• 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

-16.7% since first listed

6 events — show timeline

• 2026-05-04 Price Changed $249,900 CANOPYMLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $269,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-25 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-03-17 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-02-22 Price Changed $289,900 CANOPYMLS as Distributed by MLS Grid
• 2026-01-27 Listed $299,999 CANOPYMLS as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $593 · +6.9% YoY. Source: county tax records.