63 Sunnybrook Ln · Fletcher, NC 28732

$229,950

2 bd · 1.0 ba · 828 sqft · Manufactured public records · 19 Days on market

Built 1978 0.61 ac lot

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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).

• Cash flow +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced below appraisal. Video Available. Welcome to your private South Asheville retreat! Situated on a rare, level 0.61-acre lot, this beautifully renovated home offers the perfect blend of privacy, convenience, and move-in-ready comfort. Tucked away on a quiet lane, you'll enjoy peaceful surroundings and seasonal lake views while remaining just minutes from everything that makes South Asheville one of Western North Carolina's most desirable locations. Inside, the home has been thoughtfully updated with a newly renovated kitchen, bathroom, flooring, and all-new appliances, creating a fresh and inviting living space. Whether you're looking for a full-time residence, mountain getaway, or inv

Key facts

• Level 0.61-acre lot
• All-new appliances
• Easy access to i-26

Tags

• LEVEL 0.61-ACRE LOT
• NEWLY RENOVATED KITCHEN
• NEWLY RENOVATED BATHROOM
• ALL-NEW APPLIANCES
• USABLE MOSTLY LEVEL YARD
• EASY ACCESS TO I-26

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $49 ($594/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 $176k (23.4% below list).
• Recommended offer: $176k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.9% in Fletcher — 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 70/100 on livability (#129 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: amenities F, commute F, health & safety 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: Glenn C Marlow Elementary (math 70% / reading 70%, grade A-, #90 of 1,410 statewide, top 7%, 580 students, 30% FRL); Rugby Middle (math 61% / reading 66%, grade B+, #35 of 475 statewide, top 7%, 804 students, 39% 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 67% at this address vs 50% district-wide (+17 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: 215 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,534 units permitted in Henderson County in 2024 (558 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.
• Henderson County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.

Recommended offer $176,050 (23.4% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.77% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 10.9

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-34,236
• Equity at exit: $34,286

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-26,264
• Equity at exit: $19,882

Cash invested: $64,386 (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 28732

• Home prices YoY: -26.8%
• Active inventory: 215
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,760 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$40 /mo · $475/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $49

Break-even live

Break-even rent $1,698

Max offer price $229,950

Occupancy floor 92%

Sensitivity live

Price	-10% $180	-5% $115	+0% $49	+5% $-278	+10% $-357
Rent	-10% $-90	-5% $-20	+0% $49	+5% $119	+10% $189
Rate	-1.0pp $165	-0.5pp $108	base $49	+0.5pp $-10	+1.0pp $-71

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: $57,488
• Closing costs: $6,898
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Thoroughbred Cir Arden, NC	2.0–3.0	2.0–2.5	1212	$1,440	$1.19	15d	7	0.72mi
105 Sweeten Grass Hl Arden, NC	3.0	1.0–2.0	1163	$1,849	$1.59	15d	24	0.98mi
2604 Hendersonville Rd Arden, NC	3.0	1.0	817	$1,395	$1.71	15d	1	1.04mi

Listing history 19 events

1. 2026-06-21
   days on market $229,950 Active 19 DOM
2. 2026-06-18
   days on market $229,950 Active 16 DOM
3. 2026-06-17
   days on market $229,950 Active 15 DOM
4. 2026-06-16
   days on market $229,950 Active 14 DOM
5. 2026-06-15
   days on market $229,950 Active 13 DOM
6. 2026-06-14
   days on market $229,950 Active 11 DOM
7. 2026-06-13
   days on market $229,950 Active 10 DOM
8. 2026-06-10
   days on market $229,950 Active 8 DOM
9. 2026-06-09
   days on market $229,950 Active 7 DOM
10. 2026-06-08
    days on market $229,950 Active 6 DOM
11. 2026-06-07
    days on market $229,950 Active 5 DOM
12. 2026-06-05
    days on market $229,950 Active 2 DOM
13. 2026-06-03
    remarks 699-char remark
14. 2026-06-03
    pricedays on marketlisting id $229,950 Active 1 DOM
15. 2026-06-02
    days on market $260,000 Active 21 DOM
16. 2026-06-01
    days on market $260,000 Active 20 DOM
17. 2026-05-31
    days on market $260,000 Active 19 DOM
18. 2026-05-30
    days on market $260,000 Active 18 DOM
19. 2026-05-12
    listed $260,000 Active

ⓘ 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: $475 · $40/mo
• Projected year-2 tax: $1,886 · $157/mo
• Expected delta: +$1,410/yr (+$118/mo · 296.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 19 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: $21,126
• − Mortgage interest: −$12,881
• − Property taxes: −$475
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$6,689
• Taxable loss: −$3,450
• Est. tax savings @ 24.0%: +$828
• After-tax cash flow: $1,422/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 — Fletcher

• Score: 70/100
• State rank: #129
• US rank: #7485

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fletcher, NC
• County: Henderson County · 78,587 people
• City population: 19,279
• Metro: Asheville, NC
• Population (ZIP): 19,279
• Household income: $81,852
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 154.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 5% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 6% Serbian 4% Lithuanian 3%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -106.57%
• Current HPI: 290.4589
• 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

1 event — show timeline

• 2026-05-12 Listed $260,000 FSBO.com

Property tax history

+5.6%/yr

Latest (2025): $475 · +0.0% YoY. Source: county tax records.