429 Jack St · Hendersonville, NC 28792

$289,000

3 bd · 1.0 ba · 884 sqft · SingleFamily public records · 61 Days on market

Built 1955 0.26 ac lot Est $270k · 7% over ↓ 7% since listing

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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 +12.8/30.0
• ARV discount +4.3/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Situated in Hendersonville, this 3-bedroom, 1-bath home offers a solid foundation and room to make it your own. The inviting living area is centered around a gas fireplace, adding warmth and character. With some updates and vision, this property presents a great opportunity to create a space that truly reflects your style.

Key facts

• Inviting living area
• Gas fireplace
• Solid foundation

Tags

• GAS FIREPLACE
• INVITING LIVING AREA
• SOLID FOUNDATION

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached carport with 2 spaces
• Utilities: City water; Septic system installed
• Home design: Single-family residence; Site-built; One story; Crawl space foundation
• Construction: Brick exterior
• Exterior features: Asphalt-paved public road access; No waterfront

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Heat pump cooling
• Interior features: Gas fireplace; Five total rooms
• Laundry & utility: Laundry — other (see remarks)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $-25 ($-297/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (26.2% below list).
• Recommended offer: $213k (26.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.4% in Hendersonville — 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 77/100 on livability (#29 in NC, #2,939 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime D+, employment D+, commute 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: Sugarloaf Elementary (math 47% / reading 40%, grade F, #618 of 1,410 statewide, top 44%, 416 students, 81% FRL); East Henderson High (math 62% / reading 63%, grade B-, #179 of 535 statewide, top 34%, 965 students, 61% FRL) — zoned schools average 71% FRL vs 46% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 364 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,534 units permitted in Henderson County in 2024 (558 in 5+ unit buildings).
• At $2,132/mo this rent would consume 46% of the median local household income ($56k/yr) (locally 1420% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 61 days — a 6% lower offer ($272k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $213,219 (26.2% 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 61 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.37%
• DSCR: 0.98
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $269,620
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 Tracy Grove Rd	0.48mi	2/1.0 (-1)	787 (-11%)	20mo	$237,000	$301	38
226 E Dogwood Ln	0.54mi	2/1.0 (-1)	1,015 (+15%)	12mo	$310,000	$305	36

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

Projected returns pro-forma

-3.0% appreciation · 3.63% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-47,189
• Equity at exit: $43,091

10-year hold

• IRR: -7.3%
• Equity multiple: 0.53×
• Total profit: $-38,054
• Equity at exit: $24,987

Cash invested: $80,920 (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 28792

• Rents YoY: 3.6%
• Active inventory: 364
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,132 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$73 /mo · $878/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-25

Break-even live

Break-even rent $2,163

Max offer price $284,635

Occupancy floor 96%

Sensitivity live

Price	-10% $139	-5% $57	+0% $-25	+5% $-107	+10% $-188
Rent	-10% $-193	-5% $-109	+0% $-25	+5% $60	+10% $144
Rate	-1.0pp $121	-0.5pp $49	base $-25	+0.5pp $-100	+1.0pp $-176

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 Wilmont Estates Dr Hendersonville, NC	1.0–3.0	1.0–2.0	971	$2,200	$2.26	15d	126	0.69mi
102 Francis Rd Hendersonville, NC	1.0–3.0	1.0–2.0	1120	$2,354	$2.10	15d	27	0.82mi
382 Red Bud CIR Hendersonville, NC	1.0–3.0	1.0–2.0	1166	$2,099	$1.80	24d	30	0.94mi
73 Eastbury Dr Hendersonville, NC	2.0	2.0	1109	$1,775	$1.60	24d	5	1.29mi
1416 Highland Ave Unit A Hendersonville, NC	2.0	1.0	840	$1,350	$1.61	24d	1	1.33mi
301 4th Ave E Hendersonville, NC	1.0–2.0	1.0–1.5	861	$2,130	$2.47	15d	3	1.41mi

Listing history 8 events

1. 2026-06-05
   days on market $289,000 Active 61 DOM
2. 2026-06-03
   days on market $289,000 Active 60 DOM
3. 2026-06-02
   days on market $289,000 Active 59 DOM
4. 2026-06-01
   days on market $289,000 Active 58 DOM
5. 2026-05-31
   days on market $289,000 Active 57 DOM
6. 2026-05-30
   days on market $289,000 Active 56 DOM
7. 2026-05-13
   price $289,000
8. 2026-04-04
   listed $310,000 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: $878 · $73/mo
• Projected year-2 tax: $2,370 · $197/mo
• Expected delta: +$1,492/yr (+$124/mo · 169.8%)

ⓘ 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 ≥98°F today · 18 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: $25,586
• − Mortgage interest: −$16,188
• − Property taxes: −$878
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,047
• − Management: −$2,047
• − Depreciation: −$8,407
• Taxable loss: −$5,426
• Est. tax savings @ 24.0%: +$1,302
• After-tax cash flow: $1,006/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 — Hendersonville

• Score: 77/100
• State rank: #29
• US rank: #2939

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henderson County · 78,587 people
• City population: 51,753
• Metro: Asheville, NC
• Population (ZIP): 36,645
• Household income: $55,522
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1420.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 20% Two or more races 8% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 82% English-only · Spanish 16%

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: ▼ -174.29%
• Current HPI: 214.0215
• Rent YoY: ▲ 3.63%
• 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

-6.8% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $289,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-04 Listed $310,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+7.9%/yr

Latest (2025): $878 · +0.0% YoY. Source: county tax records.