16 Julep Dr · Woodfin, NC 28701

$225,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 391 Days on market

Built 1950 0.78 ac lot $260/sqft · 20% below area Est $281k · 20% under ↓ 18% 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).

• ARV discount +15.0/15.0
• Cash flow +11.1/30.0
• Schools +4.0/10.0
• DSCR +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in a convenient location just under 20 minutes to all that both downtown Weaverville and Asheville have to offer, this cozy 1950 1BR country cottage, with potential to be 2BR like originally, is the perfect opportunity to own a piece of mountain charm and and full of potential to make it your own! Sitting on a spacious ¾-acre lot with a spacious back deck with two interior access points from dining area and primary BR, possibilities are endless for your outdoor aspirations whether you dream of entertaining, building a garden and farming oasis, adding a workshop, creating a play area, or expanding the home, there's room to bring your vision to life! Whether you're a first time home buyer, looking for your part time mountain get away or looking to invest, this property has something for every one. PRICE IMPROVEMENT MORE THAN COVERS INSPECTION FINDINGS. CALL FOR SPECIFICS/REPORT TO REVEAL ALL KNOWN MATERIAL FACTS.

Key facts

• 0.78 acre lot
• Built 1950
• Listed 390 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (28.9% below list).
• Recommended offer: $160k (28.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.7% in Woodfin — 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 (#538 in NC) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A-, cost of living B; Watch: schools F, amenities F, commute 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: 37 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $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 391 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (18%) 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.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,000 (28.9% 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 391 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.74%
• DSCR: 0.92
• GRM: 11.7

CMA / ARV

• ARV (median comp): $281,189
• List price: $225,000
• Delta: -19.98%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
663 Alexander Rd	0.70mi	2/1.0	828 (-4%)	13mo	$280,000	$338	49

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: -19.2%
• Equity multiple: 0.33×
• Total profit: $-42,360
• Equity at exit: $33,548

10-year hold

• IRR: -12.0%
• Equity multiple: 0.29×
• Total profit: $-44,758
• Equity at exit: $19,454

Cash invested: $63,000 (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 28701

• Home prices YoY: -7.5%
• Active inventory: 37
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$81 /mo · $977/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-91

Break-even live

Break-even rent $1,715

Max offer price $208,907

Occupancy floor —

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Sweet Birch Dr Alexander, NC	3.0	2.0	956	$1,600	$1.67	14d	1	0.42mi

Listing history 21 events

1. 2026-06-18
   days on market $225,000 Active 391 DOM
2. 2026-06-17
   days on market $225,000 Active 390 DOM
3. 2026-06-16
   days on market $225,000 Active 389 DOM
4. 2026-06-15
   days on market $225,000 Active 388 DOM
5. 2026-06-14
   days on market $225,000 Active 386 DOM
6. 2026-06-10
   days on market $225,000 Active 383 DOM
7. 2026-06-09
   days on market $225,000 Active 382 DOM
8. 2026-06-08
   days on market $225,000 Active 381 DOM
9. 2026-06-07
   days on market $225,000 Active 380 DOM
10. 2026-06-03
    days on market $225,000 Active 376 DOM
11. 2026-06-02
    days on market $225,000 Active 375 DOM
12. 2026-06-01
    days on market $225,000 Active 374 DOM
13. 2026-05-31
    days on market $225,000 Active 373 DOM
14. 2026-05-30
    days on market $225,000 Active 372 DOM
15. 2025-10-28
    price $225,000 939-char remark

    Show marketing remark (939 chars)

    Nestled in a convenient location just under 20 minutes to all that both downtown Weaverville and Asheville have to offer, this cozy 1950 1BR country cottage, with potential to be 2BR like originally, is the perfect opportunity to own a piece of mountain charm and and full of potential to make it your own! Sitting on a spacious ¾-acre lot with a spacious back deck with two interior access points from dining area and primary BR, possibilities are endless for your outdoor aspirations whether you dream of entertaining, building a garden and farming oasis, adding a workshop, creating a play area, or expanding the home, there's room to bring your vision to life! Whether you're a first time home buyer, looking for your part time mountain get away or looking to invest, this property has something for every one. PRICE IMPROVEMENT MORE THAN COVERS INSPECTION FINDINGS. CALL FOR SPECIFICS/REPORT TO REVEAL ALL KNOWN MATERIAL FACTS.

16. 2025-10-02
    status Active 939-char remark

    Show marketing remark (939 chars)

    Nestled in a convenient location just under 20 minutes to all that both downtown Weaverville and Asheville have to offer, this cozy 1950 1BR country cottage, with potential to be 2BR like originally, is the perfect opportunity to own a piece of mountain charm and and full of potential to make it your own! Sitting on a spacious ¾-acre lot with a spacious back deck with two interior access points from dining area and primary BR, possibilities are endless for your outdoor aspirations whether you dream of entertaining, building a garden and farming oasis, adding a workshop, creating a play area, or expanding the home, there's room to bring your vision to life! Whether you're a first time home buyer, looking for your part time mountain get away or looking to invest, this property has something for every one. PRICE IMPROVEMENT MORE THAN COVERS INSPECTION FINDINGS. CALL FOR SPECIFICS/REPORT TO REVEAL ALL KNOWN MATERIAL FACTS.

17. 2025-09-16
    historical Active Under Contract 939-char remark

    Show marketing remark (939 chars)

    Nestled in a convenient location just under 20 minutes to all that both downtown Weaverville and Asheville have to offer, this cozy 1950 1BR country cottage, with potential to be 2BR like originally, is the perfect opportunity to own a piece of mountain charm and and full of potential to make it your own! Sitting on a spacious ¾-acre lot with a spacious back deck with two interior access points from dining area and primary BR, possibilities are endless for your outdoor aspirations whether you dream of entertaining, building a garden and farming oasis, adding a workshop, creating a play area, or expanding the home, there's room to bring your vision to life! Whether you're a first time home buyer, looking for your part time mountain get away or looking to invest, this property has something for every one. PRICE IMPROVEMENT MORE THAN COVERS INSPECTION FINDINGS. CALL FOR SPECIFICS/REPORT TO REVEAL ALL KNOWN MATERIAL FACTS.

18. 2025-08-31
    price $250,000 939-char remark

    Show marketing remark (939 chars)

    Nestled in a convenient location just under 20 minutes to all that both downtown Weaverville and Asheville have to offer, this cozy 1950 1BR country cottage, with potential to be 2BR like originally, is the perfect opportunity to own a piece of mountain charm and and full of potential to make it your own! Sitting on a spacious ¾-acre lot with a spacious back deck with two interior access points from dining area and primary BR, possibilities are endless for your outdoor aspirations whether you dream of entertaining, building a garden and farming oasis, adding a workshop, creating a play area, or expanding the home, there's room to bring your vision to life! Whether you're a first time home buyer, looking for your part time mountain get away or looking to invest, this property has something for every one. PRICE IMPROVEMENT MORE THAN COVERS INSPECTION FINDINGS. CALL FOR SPECIFICS/REPORT TO REVEAL ALL KNOWN MATERIAL FACTS.

19. 2025-07-26
    price $260,000 939-char remark

    Show marketing remark (939 chars)

    Nestled in a convenient location just under 20 minutes to all that both downtown Weaverville and Asheville have to offer, this cozy 1950 1BR country cottage, with potential to be 2BR like originally, is the perfect opportunity to own a piece of mountain charm and and full of potential to make it your own! Sitting on a spacious ¾-acre lot with a spacious back deck with two interior access points from dining area and primary BR, possibilities are endless for your outdoor aspirations whether you dream of entertaining, building a garden and farming oasis, adding a workshop, creating a play area, or expanding the home, there's room to bring your vision to life! Whether you're a first time home buyer, looking for your part time mountain get away or looking to invest, this property has something for every one. PRICE IMPROVEMENT MORE THAN COVERS INSPECTION FINDINGS. CALL FOR SPECIFICS/REPORT TO REVEAL ALL KNOWN MATERIAL FACTS.

20. 2025-05-24
    listed $275,000 Active 939-char remark

    Show marketing remark (939 chars)

    Nestled in a convenient location just under 20 minutes to all that both downtown Weaverville and Asheville have to offer, this cozy 1950 1BR country cottage, with potential to be 2BR like originally, is the perfect opportunity to own a piece of mountain charm and and full of potential to make it your own! Sitting on a spacious ¾-acre lot with a spacious back deck with two interior access points from dining area and primary BR, possibilities are endless for your outdoor aspirations whether you dream of entertaining, building a garden and farming oasis, adding a workshop, creating a play area, or expanding the home, there's room to bring your vision to life! Whether you're a first time home buyer, looking for your part time mountain get away or looking to invest, this property has something for every one. PRICE IMPROVEMENT MORE THAN COVERS INSPECTION FINDINGS. CALL FOR SPECIFICS/REPORT TO REVEAL ALL KNOWN MATERIAL FACTS.

21. 2025-05-21
    historical $275,000 939-char remark

    Show marketing remark (939 chars)

    Nestled in a convenient location just under 20 minutes to all that both downtown Weaverville and Asheville have to offer, this cozy 1950 1BR country cottage, with potential to be 2BR like originally, is the perfect opportunity to own a piece of mountain charm and and full of potential to make it your own! Sitting on a spacious ¾-acre lot with a spacious back deck with two interior access points from dining area and primary BR, possibilities are endless for your outdoor aspirations whether you dream of entertaining, building a garden and farming oasis, adding a workshop, creating a play area, or expanding the home, there's room to bring your vision to life! Whether you're a first time home buyer, looking for your part time mountain get away or looking to invest, this property has something for every one. PRICE IMPROVEMENT MORE THAN COVERS INSPECTION FINDINGS. CALL FOR SPECIFICS/REPORT TO REVEAL ALL KNOWN MATERIAL FACTS.

ⓘ 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: $977 · $81/mo
• Projected year-2 tax: $1,845 · $154/mo
• Expected delta: +$868/yr (+$72/mo · 88.8%)

ⓘ 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 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,200
• − Mortgage interest: −$12,603
• − Property taxes: −$977
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$6,545
• Taxable loss: −$5,123
• Est. tax savings @ 24.0%: +$1,230
• After-tax cash flow: $136/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 — 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

• Population (ZIP): 5,515

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 (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 3% Serbian 3% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -23.93%
• Current HPI: 294.9391
• Rent YoY: —
• Metro: —
• 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

-18.2% since first listed

7 events — show timeline

• 2025-10-28 Price Changed $225,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-02 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-09-16 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-08-31 Price Changed $250,000 CANOPYMLS as Distributed by MLS Grid
• 2025-07-26 Price Changed $260,000 CANOPYMLS as Distributed by MLS Grid
• 2025-05-24 Listed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2025-05-21 Coming Soon $275,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $977 · +4.6% YoY. Source: county tax records.