157 Edgewood Dr Unit EDG157 · Asheville, NC 28704

$84,800

3 bd · 2.0 ba · 1,152 sqft · Manufactured · 134 Days on market

Built 2026 Excellent condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a playground, community events, and a clubhouse. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Modern bathroom
• Premium entry doors
• Built 2026

Tags

• PREMIUM ENTRY DOORS
• MODERN BATHROOM
• NEW BRAND NAME APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.6% 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: Rents flat; 251 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $586 of loan paydown is wiped out by about $3k 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 + 0.3% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Recommended offer $74,624 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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: 2.28% ✓
• Cap rate: 19.57%
• Cash-on-cash: 47.43%
• DSCR: 3.11
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.35% rent growth · sell at horizon

5-year hold

• IRR: 41.8%
• Equity multiple: 2.73×
• Total profit: $41,047
• Equity at exit: $12,644

10-year hold

• IRR: 46.7%
• Equity multiple: 4.93×
• Total profit: $93,321
• Equity at exit: $7,332

Cash invested: $23,744 (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 28704

• Home prices YoY: -34.8%
• Rents YoY: 0.3%
• Active inventory: 251
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,930 high
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,272/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $938

Break-even live

Break-even rent $742

Max offer price $84,800

Occupancy floor 46%

Sensitivity live

Price	-10% $997	-5% $968	+0% $938	+5% $909	+10% $880
Rent	-10% $786	-5% $862	+0% $938	+5% $1,015	+10% $1,091
Rate	-1.0pp $981	-0.5pp $960	base $938	+0.5pp $917	+1.0pp $894

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: $21,200
• Closing costs: $2,544
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Sweeten Grass Hl Arden, NC	3.0	1.0–2.0	1163	$2,064	$1.77	14d	24	0.51mi
6 Chambers Garden Dr Arden, NC	3.0	2.5	1375	$2,145	$1.56	24d	1	0.54mi
2359 Hendersonville Rd Arden, NC	2.0	2.0	900	$1,395	$1.55	22d	1	0.60mi
160 Thoroughbred Cir Arden, NC	2.0–3.0	2.0–2.5	1212	$1,860	$1.53	14d	7	0.66mi
65 Lilac Fields Way Arden, NC	3.0	2.5	1324	$1,650	$1.25	14d	1	0.77mi
13 Christ School Rd Unit 9 Arden, NC	2.0	1.0	720	$1,300	$1.81	44d	1	0.80mi
305 Heywood Shores Dr Arden, NC	1.0–3.0	1.0–2.0	880	$2,135	$2.43	14d	11	0.92mi
9 Aberdeen Dr Arden, NC	2.0	2.5	1456	$1,695	$1.16	44d	1	0.96mi
110 Heywood Rd Arden, NC	2.0	2.0	1048	$1,448	$1.38	44d	2	0.98mi
120 Rockberry Way Arden, NC	1.0–3.0	1.0–2.0	1046	$2,570	$2.46	14d	84	1.01mi
341 Oak Branch Rd Arden, NC	3.0	2.5	1360	$2,250	$1.65	24d	1	1.07mi
352 Oak Branch Rd Arden, NC	3.0	2.5	1392	$2,295	$1.65	14d	1	1.11mi
2604 Hendersonville Rd Arden, NC	3.0	1.0	817	$1,395	$1.71	14d	1	1.14mi
10 Rippon Ct Arden, NC	3.0	2.0	1432	$1,750	$1.22	44d	1	1.26mi
179 Rutledge Rd Fletcher, NC	3.0	2.0	1400	$2,750	$1.96	24d	1	1.27mi
85 Farington Cir Fletcher, NC	3.0	2.5	1300	$1,895	$1.46	24d	1	1.31mi
67 Farington Cir Fletcher, NC	3.0	2.5	1311	$1,850	$1.41	24d	1	1.32mi
105 Olde Covington Way Arden, NC	2.0	2.0	1170	$1,600	$1.37	14d	1	1.37mi
101 Olde Covington Way #101 Arden, NC	2.0	2.0	1170	$1,695	$1.45	44d	1	1.38mi

Listing history 2 events

1. 2026-02-01
   price $84,800 471-char remark

   Show marketing remark (471 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a playground, community events, and a clubhouse. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

2. 2026-01-13
   listed $85,300 Active 471-char remark

   Show marketing remark (471 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a playground, community events, and a clubhouse. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 19 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: $23,157
• − Mortgage interest: −$4,750
• − Property taxes: −$1,272
• − Insurance: −$424
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$2,467
• Taxable income: $10,539
• Est. tax owed @ 24.0%: −$2,529
• After-tax cash flow: $8,732/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.

Condition & rehab AI · 6 photos

Excellent 95/100 None rehab

This brand new 3-bedroom, 2-bathroom home is move-in ready with modern amenities and a great location. It's in excellent condition with no repairs needed.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping and adding curb appeal features — Improves curb appeal and enhances property value
• Both Adding smart home features — Enhances comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and adding curb appeal features — Improves curb appeal and enhances property value ↑
• Both Adding smart home features — Enhances comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Asheville, NC
• County: Buncombe County · 241,085 people
• City population: 137,611
• Metro: Asheville, NC
• Population (ZIP): 24,138
• Household income: $81,096
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 511.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 13% Hispanic / Latino 11% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 3% Serbian 2% Scotch-Irish 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 84% English-only · Spanish 11% Russian/Polish/Slavic 2% Tagalog/Filipino 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: ▼ -143.22%
• Current HPI: 268.2861
• Rent YoY: ▲ 0.35%
• 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

-0.6% since first listed

2 events — show timeline

• 2026-02-01 Price Changed $84,800 Zillow
• 2026-01-13 Listed $85,300 Zillow