112 Hidden Forest Est · Asheville, NC 28715

$165,000

2 bd · 1.0 ba · 1,022 sqft · Manufactured public records · 49 Days on market

Built 1987 0.32 ac lot $161/sqft · 38% below area Est $240k · 31% under $20/mo HOA · 1% of rent

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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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.6/10.0
• 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

Take advantage of this opportunity to own a two-bedroom home in Candler. Situated on 0.32 acres in a semi-private setting, this property is located in an established neighborhood just minutes from shopping and dining. The home offers a gas fireplace and a basement, providing both comfort and additional potential, along with a utility building for extra storage. Water is provided by the city through a master meter for the development and billed to individual owners via the HOA. The property is being sold as-is, with no repairs by the seller, making it an excellent chance to update and customize to your own style.

Key facts

• Semi-private setting
• Basement
• Gas fireplace

Tags

• GAS FIREPLACE
• BASEMENT
• UTILITY BUILDING
• SEMI-PRIVATE SETTING
• ESTABLISHED NEIGHBORHOOD

Property features AI

Finance

• HOA & community: Homeowners association required with a $20 monthly fee (contact: Sarah Laplante)

Exterior

• Parking: Two open parking spaces
• Utilities: City water; Septic system installed
• Home design: Manufactured singlewide residential home; One level
• Construction: Manufactured construction; Vinyl exterior; Basement and crawl space foundation
• Exterior features: Located on a cul-de-sac; Shed(s) on the property; Gravel road with private maintenance

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Wood flooring; Linoleum flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric heating; No central cooling
• Interior features: 5 total rooms; Basement with exterior and interior entry, walk-out and walk-up access; Gas fireplace in the family room
• Laundry & utility: Washer and dryer; Laundry located in hall

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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.
• Zoned schools: Hominy Valley Elementary (math 47% / reading 52%, grade D, #417 of 1,410 statewide, top 32%, 439 students, 49% FRL); Enka Middle (math 39% / reading 50%, grade D, #169 of 475 statewide, top 37%, 602 students, 65% FRL); Enka High (math 77% / reading 63%, grade B+, #119 of 535 statewide, top 22%, 1,045 students, 58% FRL).
• Market conditions: 183 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).
• This rent runs 32% 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 $1k of loan paydown is wiped out by about $5k 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 + 3.0% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $6k; list at $165k implies a 2438% gain — meaningful room to come down on a strong offer.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.16% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.63%
• DSCR: 1.61
• GRM: 7.2

CMA / ARV

• ARV (median comp): $239,554
• List price: $165,000
• Delta: -31.12%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $6,623
• Equity at exit: $24,602

10-year hold

• IRR: 13.2%
• Equity multiple: 2.05×
• Total profit: $48,539
• Equity at exit: $14,266

Cash invested: $46,200 (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 28715

• Active inventory: 183
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,912 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$32 /mo · $379/yr
• Insurance: −$69
• HOA: −$20
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $525

Break-even live

Break-even rent $1,248

Max offer price $165,000

Occupancy floor 68%

Sensitivity live

Price	-10% $618	-5% $572	+0% $525	+5% $478	+10% $431
Rent	-10% $374	-5% $449	+0% $525	+5% $600	+10% $676
Rate	-1.0pp $608	-0.5pp $567	base $525	+0.5pp $482	+1.0pp $439

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
270 Youngs Cove Rd Candler, NC	3.0	2.0	1100	$2,100	$1.91	15d	1	0.27mi
219 TF Kirkpatrick Way Candler, NC	2.0	2.0	819	$1,500	$1.83	25d	1	1.39mi
220 TF Kirkpatrick Way Candler, NC	2.0	2.0	960	$1,575	$1.64	25d	1	1.39mi

HOA detail

• Monthly dues: $20 · $240/yr
• Likely covers: watergas

Listing history 19 events

1. 2026-06-18
   status $165,000 Pending 49 DOM
2. 2026-06-18
   days on market $165,000 Active Under Contract 49 DOM
3. 2026-06-17
   days on market $165,000 Active Under Contract 48 DOM
4. 2026-06-16
   days on market $165,000 Active Under Contract 47 DOM
5. 2026-06-15
   days on market $165,000 Active Under Contract 46 DOM
6. 2026-06-14
   days on market $165,000 Active Under Contract 44 DOM
7. 2026-06-10
   days on market $165,000 Active Under Contract 41 DOM
8. 2026-06-09
   days on market $165,000 Active Under Contract 40 DOM
9. 2026-06-08
   days on market $165,000 Active Under Contract 39 DOM
10. 2026-06-07
    days on market $165,000 Active Under Contract 38 DOM
11. 2026-06-03
    days on market $165,000 Active Under Contract 34 DOM
12. 2026-06-02
    days on market $165,000 Active Under Contract 33 DOM
13. 2026-06-01
    days on market $165,000 Active Under Contract 32 DOM
14. 2026-05-31
    days on market $165,000 Active Under Contract 31 DOM
15. 2026-05-30
    days on market $165,000 Active Under Contract 30 DOM
16. 2026-05-17
    historical Active Under Contract 619-char remark
17. 2026-04-30
    listed $165,000 Active 619-char remark
18. 1991-09-20
    soldstatus $6,500
19. 1986-09-08
    soldstatus $9,000

ⓘ 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: $379 · $32/mo
• Projected year-2 tax: $1,353 · $113/mo
• Expected delta: +$974/yr (+$81/mo · 256.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥95°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: $22,944
• − Mortgage interest: −$9,243
• − Property taxes: −$379
• − Insurance: −$825
• − Repairs & maintenance: −$1,835
• − Management: −$1,835
• − HOA: −$240
• − Depreciation: −$4,800
• Taxable income: $3,786
• Est. tax owed @ 24.0%: −$909
• After-tax cash flow: $5,389/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

+1733.3% since first listed

5 events — show timeline

• 2026-06-18 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-17 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-30 Listed $165,000 CANOPYMLS as Distributed by MLS Grid
• 1991-09-20 Sold (Public Records) $6,500 Public Records
• 1986-09-08 Sold (Public Records) $9,000 Public Records

Property tax history

-1.8%/yr

Latest (2025): $379 · +6.4% YoY. Source: county tax records.