322 Goldenleaf Rd · Mars Hill, NC 28754

$659,000

3 bd · 2.0 ba · 2,192 sqft · SingleFamily public records · 161 Days on market

Built 1990 1.15 ac lot $213/mo HOA · 6% of rent

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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).

• Appreciation +8.5/10.0
• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.8/10.0
• 1% rule +0.7/10.0

Listing remarks

3 Full Bedrooms plus Bunk Room! Offered FULLY FURNISHED, this stunning mountain retreat sits at an elevation of 4,400 feet and captures breathtaking long-range views from two expansive 58-foot covered porches! Trendy finishes and furnishings of this home blends upscale comfort with the serenity of the Blue Ridge Mountains. Nestled within the secure, gated community of Wolf Laurel, you’ll find a beautifully refreshed interior featuring a newly rebuilt deck, upgraded appliances, remodeled living spaces, a full exterior repaint, and an enhanced septic system. The flexible lower-level room has served as an office, game room, and guest suite, offering endless possibilities for how you live

Key facts

• 1.15 acre lot
• Community pool
• Built 1990

Property features AI

Finance

• Other: Architectural review and restrictions; manufactured and modular homes not allowed
• HOA & community: Part of Blue Mountain HOA and Wolf Laurel POA; HOA dues mandatory; Primary association fee $1,980 annually; secondary fee $575 annually; Community amenities include fitness center, game court, gated access, golf, outdoor pool, picnic area, playground, pond, putting green, recreation area, ski slopes, stables, street lights, tennis courts, and walking trails; Pets allowed

Exterior

• Parking: Driveway; Five parking spaces next to the walk-out basement garage
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Community well water; Private sewer / septic installed; Cable available; Electricity connected; Underground utilities
• Home design: Single-family residence; Site-built construction; One-story layout; Completed development; Accessibility with two or more access exits; Zoned SFR
• Construction: Wood construction; Metal roof; Basement and slab foundation; Built on site
• Exterior features: Front porch, rear porch and additional porch; Hot tub; Private, wooded lot with steep slope and views; Asphalt paved private maintained road access

Interior

• Kitchen: Dishwasher
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile; Wood
• Bathrooms: 3 full bathrooms (2 on main level, 1 in basement)
• Heating & cooling: Propane heating; Ceiling fans
• Interior features: 11 total rooms; Living room fireplace; Basement with exterior entry, basement garage door, walk-out and walk-up access, and storage space; Carbon monoxide and smoke detectors
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $659k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $463k (29.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $377k (42.7% below list).
• Recommended offer: $377k (42.7% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 2.3% in Mars Hill — 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 75/100 on livability (#49 in NC, #4,088 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities D, commute F.
• Yancey County Schools (rural): math 55% / reading 52% proficiency, ranked #56 of 178 in NC (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mountain Heritage High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 639 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 248 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 100 units permitted in Yancey County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $50k of equity ($5k loan paydown + $46k appreciation (6.9% local appreciation)).
• Yancey County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$80k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($580k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $116k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $377,292 (42.7% 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 161 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.57% ✗
• Cap rate: 4.27%
• Cash-on-cash: -7.23%
• DSCR: 0.68
• GRM: 14.6

CMA / ARV

• ARV (on-the-fly): $401,136
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
258 Lucas Ln	0.59mi	3/3.0	2,117 (-3%)	14mo	$327,500	$155	51
505 Oak Ridge Ln	0.73mi	3/2.0	2,259 (+3%)	15mo	$430,000	$190	48
166 Cottage Ln #14	0.56mi	3/3.0	2,127 (-3%)	20mo	$733,500	$345	48
88 Siler Ln	0.54mi	2/2.0 (-1)	1,969 (-10%)	11mo	$353,333	$179	44
670 Overlook Dr	0.49mi	3/3.5	2,311 (+5%)	22mo	$810,000	$350	44
673 Chestnut Ln	0.47mi	4/2.0 (+1)	1,900 (-13%)	10mo	$190,000	$100	42
101 Oakridge Ct Unit 701/700	0.67mi	3/2.0	2,464 (+12%)	14mo	$450,000	$183	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.84×
• Total profit: $155,221
• Equity at exit: $452,582

10-year hold

• IRR: 12.5%
• Equity multiple: 3.73×
• Total profit: $504,117
• Equity at exit: $856,025

Cash invested: $184,520 (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 28754

• Home prices YoY: 2.3%
• Active inventory: 248
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $3,773 medium
• Mortgage (P&I): −$3,456
• Tax from tax record: −$149 /mo · $1,791/yr
• Insurance: −$275
• HOA: −$213
• Vacancy / Maint / Mgmt: −$792
• Net cashflow: $-1,112

Break-even live

Break-even rent $5,181

Max offer price $462,546

Occupancy floor —

Sensitivity live

Price	-10% $-739	-5% $-926	+0% $-1,112	+5% $-1,299	+10% $-1,485
Rent	-10% $-1,410	-5% $-1,261	+0% $-1,112	+5% $-963	+10% $-814
Rate	-1.0pp $-780	-0.5pp $-944	base $-1,112	+0.5pp $-1,283	+1.0pp $-1,457

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: $164,750
• Closing costs: $19,770
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2535 El Miner Dr Mars Hill, NC	3.0	3.0	2850	$4,500	$1.58	22d	1	0.95mi
269 Grouse Thicket Rd Mars Hill, NC	3.0	2.0	1800	$2,800	$1.56	15d	1	1.36mi

HOA detail

• Monthly dues: $213 · $2,556/yr
• Likely covers: security

Listing history 26 events

1. 2026-06-22
   days on market $659,000 Active 161 DOM
2. 2026-06-18
   days on market $659,000 Active 158 DOM
3. 2026-06-17
   days on market $659,000 Active 157 DOM
4. 2026-06-16
   days on market $659,000 Active 156 DOM
5. 2026-06-15
   days on market $659,000 Active 155 DOM
6. 2026-06-14
   days on market $659,000 Active 153 DOM
7. 2026-06-13
   days on market $659,000 Active 152 DOM
8. 2026-06-10
   days on market $659,000 Active 150 DOM
9. 2026-06-09
   days on market $659,000 Active 149 DOM
10. 2026-06-08
    days on market $659,000 Active 148 DOM
11. 2026-06-07
    days on market $659,000 Active 147 DOM
12. 2026-06-03
    days on market $659,000 Active 143 DOM
13. 2026-06-02
    days on market $659,000 Active 142 DOM
14. 2026-06-01
    days on market $659,000 Active 141 DOM
15. 2026-05-31
    days on market $659,000 Active 140 DOM
16. 2026-05-30
    days on market $659,000 Active 139 DOM
17. 2026-04-29
    price $659,000
18. 2026-04-21
    price $699,000
19. 2026-03-25
    price $700,000
20. 2026-03-10
    price $725,000
21. 2026-03-01
    price $744,000
22. 2026-03-01
    status Active
23. 2026-02-23
    price $749,000
24. 2026-01-11
    listed $775,000 Active
25. 2026-01-06
    historical $775,000
26. 2024-05-20
    soldstatus $605,000

ⓘ 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: $1,791 · $149/mo
• Projected year-2 tax: $5,404 · $450/mo
• Expected delta: +$3,613/yr (+$301/mo · 201.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥87°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: $45,275
• − Mortgage interest: −$36,914
• − Property taxes: −$1,791
• − Insurance: −$3,295
• − Repairs & maintenance: −$3,622
• − Management: −$3,622
• − HOA: −$2,556
• − Depreciation: −$19,171
• Taxable loss: −$25,696
• Est. tax savings @ 24.0%: +$6,167
• After-tax cash flow: $-7,178/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: Yancey County Schools
• NCES district ID: 3705070
• Math proficiency: 55% ▲ 6.00%
• Reading proficiency: 52% ▲ 5.00%
• Median HH income: $37,576
• Composite: 44.52/100
• National rank: #2795
• State rank: #56 of 178 in NC

Livability — Mars Hill

• Score: 75/100
• State rank: #49
• US rank: #4088

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,897

Population outlook (Yancey County) Hauer SSP2

• Today (2025): 16,797 people
• By 2030: 16,215 · -3.5%
• By 2040: 14,830 · -11.7%
• By 2050: 13,469 · -19.8%
• By 2075: 10,583 · -37.0%
• By 2100: 7,497 · -55.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 5% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 6% Slovak 4% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Yancey

• 2024 margin: Solid R (+34.4) · D 32.3% · R 66.8%
• 2008→2024 swing: -28.7pp toward R · 2008: -5.8pp · 2024: -34.4pp
• All cycles: 2024: R+34.4 2020: R+33.7 2016: R+32.5 2012: R+13.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.91%
• Current HPI: 304.2399
• 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

+8.9% since first listed

10 events — show timeline

• 2026-04-29 Price Changed $659,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $699,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $700,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $725,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-01 Price Changed $744,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-01 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-02-23 Price Changed $749,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-11 Listed $775,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-06 Coming Soon $775,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-20 Sold (Public Records) $605,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,791 · +1.4% YoY. Source: county tax records.