101 Laurel Loop · Fletcher, NC 28732

$215,000

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 42 Days on market

Built 1994 1.73 ac lot

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable living with comfort and convenience! This sweet manufactured home on 1.73 acres, nestled between Fairview and Fletcher, offers convenient access to loads of amenities. Use it for your primary home or an investment property. Built in 1994 and renovated in 2021, this 3 bedroom/2 bath has been tastefully updated. Book your showing today!

Key facts

• Renovated in 2021
• 1.73 acres
• 1.73 acre lot

Tags

• 1.73 ACRES
• RENOVATED IN 2021

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parking
• Utilities: Shared well water; Septic system installed; Electric power
• Home design: Manufactured singlewide residential home; One level
• Construction: Manufactured construction; Aluminum exterior; Metal roof; Pillar/post/pier foundation; Built as a manufactured home
• Exterior features: Driveway access; Road surfaces include gravel and dirt; Road maintenance: Other - see remarks; Lot measures approximately 1.73 acres

Interior

• Kitchen: Dishwasher; Electric cooktop; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Open room count of 1
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located inside on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $215k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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.
• 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.
• Zoned schools: Fairview Elementary (math 56% / reading 63%, grade B-, #205 of 1,410 statewide, top 16%, 659 students, 41% FRL); Reynolds High (math 73% / reading 68%, grade B+, #117 of 535 statewide, top 22%, 1,133 students, 42% FRL).
• Zoned-school proficiency averages 65% at this address vs 48% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Buncombe County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 208 active listings in the ZIP; solid renter incomes; 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).
• This rent runs 33% of the median local income ($82k/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 $1k of loan paydown is wiped out by about $6k 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 42 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.06% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.59%
• DSCR: 1.47
• GRM: 7.9

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-5,283
• Equity at exit: $32,057

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $33,287
• Equity at exit: $18,589

Cash invested: $60,200 (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: 208
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,272 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$46 /mo · $551/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $465

Break-even live

Break-even rent $1,683

Max offer price $215,000

Occupancy floor 75%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-02
   status Pending
2. 2026-04-15
   historical Active Under Contract
3. 2026-04-03
   price $215,000
4. 2026-03-21
   listed $235,000 Active
5. 2022-05-24
   soldstatus $200,000

ⓘ 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: $551 · $46/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$1,212/yr (+$101/mo · 219.9%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 2 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,258
• − Mortgage interest: −$12,043
• − Property taxes: −$551
• − Insurance: −$1,872
• − Repairs & maintenance: −$2,181
• − Management: −$2,181
• − Depreciation: −$6,255
• Taxable income: $2,175
• Est. tax owed @ 24.0%: −$522
• After-tax cash flow: $5,058/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 — 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

• 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 (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 (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 · 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: ▼ -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

+7.5% since first listed

5 events — show timeline

• 2026-05-02 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-15 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-03 Price Changed $215,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-21 Listed $235,000 CANOPYMLS as Distributed by MLS Grid
• 2022-05-24 Sold (Public Records) $200,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $551 · +4.3% YoY. Source: county tax records.