103 Oakwood Pl #4 · Mountain Home, NC 28792

$195,000

3 bd · 2.0 ba · 1,456 sqft · Condo public records · 78 Days on market

Built 1981 $350/mo HOA · 16% of rent

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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 +18.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• DSCR +5.7/10.0
• Schools +4.2/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy a peaceful, low-maintenance lifestyle in the quiet Brookside Manor 55+ community, known for its spacious, well-kept grounds and serene atmosphere. This move-in ready condo offers both privacy and comfort, with wooded surroundings off the deck and mountain views out the rear windows. Inside, the home features an airy layout with notably large living spaces, including a generous living room, dining area, and a roomy kitchen with ample cabinetry and workspace. The primary bedroom includes a private bath and plenty of closet space, while two additional bedrooms provide flexibility for guests, hobbies, or a home office. The freshly painted interior provides updated colors and clean, well-m

Key facts

• Wooded surroundings
• Airy layout
• Ample cabinetry

Tags

• WOODED SURROUNDINGS
• MOUNTAIN VIEWS
• AIRY LAYOUT
• LARGE LIVING SPACES
• AMPLE CABINETRY
• PRIVATE BATH

Property features AI

Finance

• Other: Publicly maintained paved/asphalt roads
• HOA & community: HOA present (mandatory dues); Monthly association fee of $350; Association: Brookside Manor Retirement Community; Community is 55+ / senior community; Pets allowed conditionally (cats OK)

Exterior

• Parking: Attached garage with garage door opener (garage faces rear); 1 garage space; 1 open parking space; Additional parking space(s)
• Utilities: City water; Septic system installed
• Home design: Residential condominium; Site-built construction; Brick exterior; One story; Basement foundation; R2 zoning
• Construction: Site-built construction; Brick full exterior; Basement foundation
• Exterior features: Covered balcony; End unit with private, wooded setting and views; Green area

Interior

• Kitchen: Dishwasher; Garbage disposal; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating (forced air, electric); Central air with heat pump; Ceiling fans
• Interior features: Insulated windows; Basement with exterior and interior entry, basement garage door, walk-out access and storage space; 6 total rooms; Entry level is 2
• Laundry & utility: Washer and dryer included; Laundry closet in hall on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $183k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 2.7% in Mountain Home — 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 59/100 on livability (#550 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing A, crime B+; Watch: employment C-, amenities F, 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: Clear Creek Elementary (math 39% / reading 44%, grade F, #673 of 1,410 statewide, top 48%, 484 students, 70% FRL); North Henderson High (math 72% / reading 58%, grade B, #161 of 535 statewide, top 30%, 1,146 students, 61% FRL) — zoned schools average 66% FRL vs 46% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 364 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,534 units permitted in Henderson County in 2024 (558 in 5+ unit buildings).
• At $2,174/mo this rent would consume 47% 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 $1k of loan paydown is wiped out by about $6k 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 78 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $150k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $183,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 7.34%
• Cash-on-cash: 3.76%
• DSCR: 1.17
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-19,174
• Equity at exit: $29,075

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $3,710
• Equity at exit: $16,860

Cash invested: $54,600 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,174 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$93 /mo · $1,110/yr
• Insurance: −$81
• HOA: −$350
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $171

Break-even live

Break-even rent $1,957

Max offer price $195,000

Occupancy floor 87%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2168 Howard Gap Rd Apt 10 Hendersonville, NC	2.0	1.5	1200	$1,495	$1.25	23d	1	0.68mi
48 N Rowe Rd Hendersonville, NC	3.0	2.0	1550	$2,495	$1.61	13d	1	0.80mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $195,000 Active 78 DOM
2. 2026-06-17
   days on market $195,000 Active 77 DOM
3. 2026-06-16
   days on market $195,000 Active 76 DOM
4. 2026-06-15
   days on market $195,000 Active 75 DOM
5. 2026-06-14
   days on market $195,000 Active 73 DOM
6. 2026-06-13
   days on market $195,000 Active 72 DOM
7. 2026-06-10
   days on market $195,000 Active 70 DOM
8. 2026-06-09
   days on market $195,000 Active 69 DOM
9. 2026-06-08
   days on market $195,000 Active 68 DOM
10. 2026-06-07
    days on market $195,000 Active 67 DOM
11. 2026-06-05
    days on market $195,000 Active 64 DOM
12. 2026-06-03
    days on market $195,000 Active 63 DOM
13. 2026-06-02
    days on market $195,000 Active 62 DOM
14. 2026-06-01
    days on market $195,000 Active 61 DOM
15. 2026-05-31
    days on market $195,000 Active 60 DOM
16. 2026-05-30
    days on market $195,000 Active 59 DOM
17. 2026-04-01
    listed $195,000 Active
18. 2025-10-13
    status Active
19. 2025-10-06
    price $209,000
20. 2025-05-09
    listed $215,000 Active
21. 2024-06-18
    listed $219,000 Active
22. 2024-06-17
    historical
23. 2019-08-30
    soldstatus $149,900 Closed
24. 2019-08-30
    soldstatus $150,000
25. 2019-07-22
    historical Under Contract - Show
26. 2019-07-16
    status Active
27. 2019-07-16
    historical Under Contract - Show
28. 2019-07-08
    listed $149,900 Active
29. 2009-06-11
    soldstatus $92,000
30. 2006-09-13
    soldstatus $98,000
31. 2006-02-17
    soldstatus $90,000

ⓘ 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: $1,110 · $93/mo
• Projected year-2 tax: $1,599 · $133/mo
• Expected delta: +$489/yr (+$41/mo · 44.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥98°F today · 21 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: $26,085
• − Mortgage interest: −$10,923
• − Property taxes: −$1,110
• − Insurance: −$975
• − Repairs & maintenance: −$2,087
• − Management: −$2,087
• − HOA: −$4,200
• − Depreciation: −$5,673
• Taxable loss: −$970
• Est. tax savings @ 24.0%: +$233
• After-tax cash flow: $2,283/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 — Mountain Home

• Score: 59/100
• State rank: #550
• US rank: #20251

Category grades

Amenities F Commute F Cost of living A Crime B+ Employment C- 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: 43
• 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

+116.7% since first listed

15 events — show timeline

• 2026-04-01 Listed $195,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-13 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-10-06 Price Changed $209,000 CANOPYMLS as Distributed by MLS Grid
• 2025-05-09 Listed $215,000 CANOPYMLS as Distributed by MLS Grid
• 2024-06-18 Listed $219,000 CANOPYMLS as Distributed by MLS Grid
• 2024-06-17 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2019-08-30 Sold (Public Records) $150,000 Public Records
• 2019-08-30 Sold (MLS) $149,900 CANOPYMLS as Distributed by MLS Grid
• 2019-07-22 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2019-07-16 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2019-07-16 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2019-07-08 Listed $149,900 CANOPYMLS as Distributed by MLS Grid
• 2009-06-11 Sold (Public Records) $92,000 Public Records
• 2006-09-13 Sold (Public Records) $98,000 Public Records
• 2006-02-17 Sold (Public Records) $90,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,110 · +0.0% YoY. Source: county tax records.