14840 US 25/70 Hwy · Hot Springs, NC 28753

$290,000

3 bd · 1.0 ba · 1,068 sqft · Other public records · 158 Days on market

Built 1949 1.00 ac lot

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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 +10.0/10.0
• Cash flow +9.5/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.3/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0

Listing remarks MLS

Character fills this renovated furnished 3 bed/2 bath adorable home w/ fireplace, circular drive, slate counter top, stainless appliances and is priced BELOW RECENT APPRAISAL. New HVAC, electrical and plumbing throughout. Outdoor gravel patio with chef size grill conveys. Take your walking stick up the path behind the house and step into nature. Minutes from river access, fly fishing, Appalachian Trail, Hot Springs, 20 miles to Weaverville. Potential investor furnished vacation rental.

Key facts

• New plumbing
• Wood floors
• Stainless appliances

Tags

• NEW ELECTRICAL BOX
• NEW PLUMBING
• NEW HOT WATER HEATER
• WOOD FLOORS
• STAINLESS APPLIANCES
• GAS LOG FIREPLACE

Property features AI

Finance

• Other: Property type zoning: RA; Fuel tank(s) on site; Approximately 1 acre lot
• HOA & community: No HOA

Exterior

• Parking: Driveway parking; Covered parking for 1 vehicle
• Utilities: Well water; Septic system; Electricity connected; Fiber optic available; Propane
• Home design: Single-family residence; Residential property; One story; Crawl space foundation
• Construction: Site-built construction; Vinyl exterior; Asbestos shingle roof
• Exterior features: Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Ductless heating; Ductless cooling
• Interior features: One living room fireplace
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $290k.

Deal economics

• At list price, monthly cash flow is $-269 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (16.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (35.0% below list).
• Recommended offer: $188k (35.0% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 0.6% in Hot Springs — 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 66/100 on livability (#288 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D, amenities F, commute F.
• Madison County Schools (rural): math 51% / reading 56% proficiency, ranked #55 of 178 in NC (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Brush Creek Elementary (math 57% / reading 62%, grade B-, #205 of 1,410 statewide, top 16%, 333 students, 58% FRL); Madison Middle School (math 44% / reading 56%, grade C, #113 of 475 statewide, top 25%, 452 students, 57% FRL); Madison High School (math 57% / reading 52%, grade C-, #270 of 535 statewide, top 52%, 414 students, 48% FRL).
• Market conditions: 140 active listings in the ZIP; 209 units permitted in Madison County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $144k; list at $290k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,357 (35.0% 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 158 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.65% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.99%
• DSCR: 0.87
• GRM: 12.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 2.73×
• Total profit: $140,697
• Equity at exit: $261,255

10-year hold

• IRR: 19.3%
• Equity multiple: 6.27×
• Total profit: $427,548
• Equity at exit: $563,406

Cash invested: $81,200 (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 28753

• Home prices YoY: 10.2%
• Active inventory: 140
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $1,884 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$121
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-269

Break-even live

Break-even rent $2,224

Max offer price $242,513

Occupancy floor —

Sensitivity live

Price	-10% $-105	-5% $-187	+0% $-269	+5% $-683	+10% $-783
Rent	-10% $-418	-5% $-343	+0% $-269	+5% $-194	+10% $-120
Rate	-1.0pp $-123	-0.5pp $-195	base $-269	+0.5pp $-344	+1.0pp $-420

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $290,000 Active 158 DOM
2. 2026-06-19
   days on market $290,000 Active 155 DOM
3. 2026-06-18
   days on market $290,000 Active 154 DOM
4. 2026-06-17
   days on market $290,000 Active 153 DOM
5. 2026-06-16
   days on market $290,000 Active 152 DOM
6. 2026-06-15
   days on market $290,000 Active 151 DOM
7. 2026-06-14
   days on market $290,000 Active 149 DOM
8. 2026-06-12
   days on market $290,000 Active 148 DOM
9. 2026-06-09
   days on market $290,000 Active 145 DOM
10. 2026-06-08
    days on market $290,000 Active 144 DOM
11. 2026-06-07
    days on market $290,000 Active 143 DOM
12. 2026-06-03
    days on market $290,000 Active 139 DOM
13. 2026-06-02
    days on market $290,000 Active 138 DOM
14. 2026-06-01
    days on market $290,000 Active 137 DOM
15. 2026-05-31
    days on market $290,000 Active 136 DOM
16. 2026-05-30
    days on market $290,000 Active 135 DOM
17. 2026-05-11
    status Active
18. 2025-10-20
    listed $290,000 Active
19. 2016-08-16
    soldstatus $144,500 492-char remark

    Show marketing remark (492 chars)

    Character fills this renovated furnished 3 bed/2 bath adorable home w/ fireplace, circular drive, slate counter top, stainless appliances and is priced BELOW RECENT APPRAISAL. New HVAC, electrical and plumbing throughout. Outdoor gravel patio with chef size grill conveys. Take your walking stick up the path behind the house and step into nature. Minutes from river access, fly fishing, Appalachian Trail, Hot Springs, 20 miles to Weaverville. Potential investor furnished vacation rental.

20. 2016-07-25
    historical 492-char remark

    Show marketing remark (492 chars)

    Character fills this renovated furnished 3 bed/2 bath adorable home w/ fireplace, circular drive, slate counter top, stainless appliances and is priced BELOW RECENT APPRAISAL. New HVAC, electrical and plumbing throughout. Outdoor gravel patio with chef size grill conveys. Take your walking stick up the path behind the house and step into nature. Minutes from river access, fly fishing, Appalachian Trail, Hot Springs, 20 miles to Weaverville. Potential investor furnished vacation rental.

21. 2016-07-18
    listed $147,500 492-char remark

    Show marketing remark (492 chars)

    Character fills this renovated furnished 3 bed/2 bath adorable home w/ fireplace, circular drive, slate counter top, stainless appliances and is priced BELOW RECENT APPRAISAL. New HVAC, electrical and plumbing throughout. Outdoor gravel patio with chef size grill conveys. Take your walking stick up the path behind the house and step into nature. Minutes from river access, fly fishing, Appalachian Trail, Hot Springs, 20 miles to Weaverville. Potential investor furnished vacation rental.

22. 2014-04-04
    soldstatus $35,000 81-char remark

    Show marketing remark (81 chars)

    Charming little starter home...very sweet and cozy...shed and carport also convey

23. 2014-01-14
    historical 81-char remark

    Show marketing remark (81 chars)

    Charming little starter home...very sweet and cozy...shed and carport also convey

24. 2012-06-07
    listed $45,000 81-char remark

    Show marketing remark (81 chars)

    Charming little starter home...very sweet and cozy...shed and carport also convey

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $2,378 · $198/mo
• Expected delta: +$1,793/yr (+$149/mo · 306.5%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 100% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,603
• − Mortgage interest: −$16,245
• − Property taxes: −$585
• − Insurance: −$2,248
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$8,436
• Taxable loss: −$8,527
• Est. tax savings @ 24.0%: +$2,046
• After-tax cash flow: $-1,179/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: Madison County Schools
• NCES district ID: 3702820
• Math proficiency: 51% ▲ 3.00%
• Reading proficiency: 56% ▲ 4.00%
• Median HH income: $39,050
• Composite: 44.62/100
• National rank: #2774
• State rank: #55 of 178 in NC

Livability — Hot Springs

• Score: 66/100
• State rank: #288
• US rank: #12286

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,778

Population outlook (Madison County) Hauer SSP2

• Today (2025): 21,646 people
• By 2030: 21,839 · +0.9%
• By 2040: 22,031 · +1.8%
• By 2050: 22,050 · +1.9%
• By 2075: 22,327 · +3.1%
• By 2100: 21,365 · -1.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Serbian 6% Slovak 3% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+23.5) · D 37.5% · R 61.0% · Other 1.4%
• 2008→2024 swing: -21.9pp toward R · 2008: -1.6pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+23.5 2016: R+25.9 2012: R+9.1 2008: R+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 28.22%
• Current HPI: 305.7339
• 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

+544.4% since first listed

8 events — show timeline

• 2026-05-11 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-10-20 Listed $290,000 CANOPYMLS as Distributed by MLS Grid
• 2016-08-16 Sold (MLS) $144,500 CANOPYMLS as Distributed by MLS Grid
• 2016-07-25 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2016-07-18 Listed $147,500 CANOPYMLS as Distributed by MLS Grid
• 2014-04-04 Sold (MLS) $35,000 CANOPYMLS as Distributed by MLS Grid
• 2014-01-14 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2012-06-07 Listed $45,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+9.2%/yr

Latest (2023): $585 · +0.0% YoY. Source: county tax records.