14 Lila Ln · Clyde, NC 28721

$225,000

3 bd · 2.0 ba · 1,272 sqft · Condo public records · 103 Days on market

Built 2012 $177/sqft · 15% above area Est $260k · 14% under $110/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).

• ARV discount +13.6/15.0
• Cash flow +13.4/30.0
• DSCR +4.0/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 14 Lila Lane in the gated community of Mount Soma—a rare opportunity to own a versatile mountain-view condo in a peaceful, spiritually vibrant setting near the Vedic Temple of North Carolina. This charming 3-level cottage-style condo is filled with natural light and designed for maximum flexibility. Each level functions as its own living quarters, making it ideal for multigenerational living, a private mountain retreat, or an income-producing investment. The upper level features a studio layout with kitchenette, dining and living area, sleeping space, full bath, and private deck with mountain views. The main level offers a similar studio-style design with kitchenette, full bath, living/dining/sleeping areas, and its own private deck. The lower level has a separate exterior entrance and includes a full kitchen, living/dining area, private bedroom, and full bath—perfect for long-term rental or guest accommodations. The main and upper levels could be combined into a spacious two-story residence if desired. Property has previously been utilized as both short- and long-term rental through Mount Soma (buyer to verify continuation). Community amenities include panoramic mountain views, peaceful outdoor gathering spaces, and walking trails in a serene, retreat-like atmosphere. Just 30 minutes to Waynesville and approximately 15–20 minutes to I-40 for convenient access to Asheville and beyond. Whether you're seeking proximity to temple activities, a full-time residence, vacation getaway, or an investment with multiple rental possibilities, 14 Lila Lane offers exceptional flexibility and value in a truly unique mountain community.

Key facts

• Gated community
• Private deck
• Full kitchen

Tags

• MOUNTAIN VIEW
• GATED COMMUNITY
• SEPARATE EXTERIOR ENTRANCE
• PRIVATE DECK
• FULL KITCHEN
• WALKING TRAILS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $6 ($68/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (11.6% below list).
• Recommended offer: $199k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.8% in Clyde — 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 79/100 on livability (#20 in NC, #2,052 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute 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: Leicester Elementary (math 32% / reading 42%, grade F, #771 of 1,410 statewide, top 57%, 367 students, 70% FRL); Erwin Middle (math 37% / reading 37%, grade F, #262 of 475 statewide, top 57%, 568 students, 74% FRL); Erwin High (math 52% / reading 49%, grade D+, #306 of 535 statewide, top 57%, 1,096 students, 64% FRL) — zoned schools average 69% FRL vs 47% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 159 active listings in the ZIP; 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,913 (11.6% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
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 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: 0.88% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.00
• GRM: 9.4

CMA / ARV

• ARV (median comp): $260,381
• List price: $225,000
• Delta: -13.59%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.1%
• Equity multiple: 0.43×
• Total profit: $-36,061
• Equity at exit: $33,548

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-30,787
• Equity at exit: $19,454

Cash invested: $63,000 (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 28721

• Home prices YoY: -20.8%
• Active inventory: 159
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,989 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$182 /mo · $2,185/yr
• Insurance: −$94
• HOA: −$110
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $6

Break-even live

Break-even rent $1,982

Max offer price $225,000

Occupancy floor 95%

Sensitivity live

Price	-10% $133	-5% $69	+0% $6	+5% $-58	+10% $-122
Rent	-10% $-151	-5% $-73	+0% $6	+5% $84	+10% $163
Rate	-1.0pp $119	-0.5pp $63	base $6	+0.5pp $-53	+1.0pp $-112

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $110 · $1,320/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-22
   days on market $225,000 Active 103 DOM
2. 2026-06-18
   days on market $225,000 Active 100 DOM
3. 2026-06-17
   days on market $225,000 Active 99 DOM
4. 2026-06-16
   days on market $225,000 Active 98 DOM
5. 2026-06-15
   days on market $225,000 Active 97 DOM
6. 2026-06-14
   days on market $225,000 Active 95 DOM
7. 2026-06-10
   days on market $225,000 Active 92 DOM
8. 2026-06-09
   days on market $225,000 Active 91 DOM
9. 2026-06-08
   days on market $225,000 Active 90 DOM
10. 2026-06-07
    days on market $225,000 Active 89 DOM
11. 2026-06-03
    days on market $225,000 Active 85 DOM
12. 2026-06-02
    days on market $225,000 Active 84 DOM
13. 2026-06-01
    days on market $225,000 Active 83 DOM
14. 2026-05-31
    days on market $225,000 Active 82 DOM
15. 2026-05-30
    days on market $225,000 Active 81 DOM
16. 2026-03-10
    listed $250,000 Active 1692-char remark

    Show marketing remark (1695 chars)

    Welcome to 14 Lila Lane in the gated community of Mount Soma—a rare opportunity to own a versatile mountain-view condo in a peaceful, spiritually vibrant setting near the Vedic Temple of North Carolina. This charming 3-level cottage-style condo is filled with natural light and offers exceptional flexibility for personal use, multigenerational living, or income-producing rental potential. The main and upper levels can function as two separate studio-style living spaces, each with a kitchenette, dining/living/sleeping area, full bath, and private deck with mountain views. These two levels could also be easily combined into a single two-story residence, creating a more traditional primary living space if desired. The lower level features a separate exterior entrance and includes a full kitchen, living/dining area, private bedroom, and full bath—ideal for guests, extended family, or potential rental use. The property has previously been utilized for both short- and long-term rentals through Mount Soma (buyer to verify continuation), making it attractive for investors seeking flexible rental possibilities in a unique mountain community. Community amenities include panoramic mountain views, peaceful outdoor gathering spaces, and walking trails in a serene, retreat-like atmosphere. Conveniently located approximately 30 minutes to Waynesville and 15–20 minutes to I-40 for access to Asheville and beyond. Whether you're seeking proximity to temple activities, a full-time residence, vacation getaway, or an investment with multiple living options, 14 Lila Lane offers rare flexibility and value in one of the area's most distinctive communities.

17. 2026-03-10
    listed $250,000 Active 1695-char remark

    Show marketing remark (1695 chars)

    Welcome to 14 Lila Lane in the gated community of Mount Soma—a rare opportunity to own a versatile mountain-view condo in a peaceful, spiritually vibrant setting near the Vedic Temple of North Carolina. This charming 3-level cottage-style condo is filled with natural light and offers exceptional flexibility for personal use, multigenerational living, or income-producing rental potential. The main and upper levels can function as two separate studio-style living spaces, each with a kitchenette, dining/living/sleeping area, full bath, and private deck with mountain views. These two levels could also be easily combined into a single two-story residence, creating a more traditional primary living space if desired. The lower level features a separate exterior entrance and includes a full kitchen, living/dining area, private bedroom, and full bath—ideal for guests, extended family, or potential rental use. The property has previously been utilized for both short- and long-term rentals through Mount Soma (buyer to verify continuation), making it attractive for investors seeking flexible rental possibilities in a unique mountain community. Community amenities include panoramic mountain views, peaceful outdoor gathering spaces, and walking trails in a serene, retreat-like atmosphere. Conveniently located approximately 30 minutes to Waynesville and 15–20 minutes to I-40 for access to Asheville and beyond. Whether you're seeking proximity to temple activities, a full-time residence, vacation getaway, or an investment with multiple living options, 14 Lila Lane offers rare flexibility and value in one of the area's most distinctive communities.

ⓘ 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: $2,185 · $182/mo
• Projected year-2 tax: $2,185 · $182/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 8 d/yr ≥91°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,870
• − Mortgage interest: −$12,603
• − Property taxes: −$2,185
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − HOA: −$1,320
• − Depreciation: −$6,545
• Taxable loss: −$3,728
• Est. tax savings @ 24.0%: +$895
• After-tax cash flow: $963/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 — Clyde

• Score: 79/100
• State rank: #20
• US rank: #2052

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,561

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Serbian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -52.90%
• Current HPI: 201.525
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-10 Listed $250,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-10 Listed $250,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2025): $2,185 · +14.5% YoY. Source: county tax records.