98 Fork Ridge Ln · Mountain Home, NC 28792

$280,000

3 bd · 2.0 ba · 1,742 sqft · Manufactured public records · 20 Days on market

Manufactured home Built 1995 0.78 ac lot

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Why this score? — see what drove the F 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 +7.8/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Only 4 Miles out of downtown Hendersonville, but it feels very remote and quiet. This 1995 3/2 manufactured doublewide is a lovely place to call home. A wood-burning fireplace in the living room and lots of light. This home has great space with a large kitchen, laundry room, and extra den space. A nice . 78 acre lot surrounded by trees. A Standard 1 yr 2-10 Home Warranty included!!! Home is only 3 miles from Walmart and 1-26. Come See this. home!

Key facts

• 0.78 acre lot
• Built 1995
• Listed 20 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Security: Smoke detector(s)
• Utilities: Well water; Septic system; Electric service
• Home design: Manufactured doublewide single-family residence; One story; Completed development; Two or more access exits; Crawl space foundation; Elevation 2000 ft; Facing direction not specified
• Construction: Manufactured construction; Vinyl exterior
• Exterior features: Deck; Front porch; Back yard fencing; Private, level, wooded lot; Private maintained road; Gravel road access; Shed(s)

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heat pump heating; Heat pump cooling; Ceiling fans
• Interior features: Insulated windows; Sliding doors; Smoke detectors
• Laundry & utility: Washer hookup; Electric dryer hookup; Mud room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $280k.

Deal economics

• At list price, monthly cash flow is $-309 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (19.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (39.2% below list).
• Recommended offer: $170k (39.2% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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); Apple Valley Middle (math 37% / reading 44%, grade F, #215 of 475 statewide, top 46%, 825 students, 67% 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 (20 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).
• This rent runs 37% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 20 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $84k; list at $280k implies a 233% gain — meaningful room to come down on a strong offer.

Recommended offer $170,220 (39.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.61% ✗
• Cap rate: 4.97%
• Cash-on-cash: -4.73%
• DSCR: 0.79
• GRM: 13.7

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: -23.8%
• Equity multiple: 0.18×
• Total profit: $-64,116
• Equity at exit: $41,749

10-year hold

• IRR: -17.7%
• Equity multiple: 0.01×
• Total profit: $-77,260
• Equity at exit: $24,209

Cash invested: $78,400 (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: 13.7×

Monthly cashflow live

• Estimated rent: $1,702 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$69 /mo · $825/yr
• Insurance: −$117
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-309

Break-even live

Break-even rent $2,093

Max offer price $225,409

Occupancy floor —

Sensitivity live

Price	-10% $-151	-5% $-230	+0% $-309	+5% $-388	+10% $-468
Rent	-10% $-444	-5% $-376	+0% $-309	+5% $-242	+10% $-175
Rate	-1.0pp $-168	-0.5pp $-238	base $-309	+0.5pp $-382	+1.0pp $-455

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: $70,000
• Closing costs: $8,400
• 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	25d	1	0.21mi
48 N Rowe Rd Hendersonville, NC	3.0	2.0	1550	$2,495	$1.61	16d	1	0.21mi

Listing history 4 events

1. 2026-05-13
   status Pending
2. 2026-04-24
   listed $280,000 Active
3. 2026-04-17
   historical $280,000
4. 2006-02-01
   soldstatus $84,000

ⓘ 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: $825 · $69/mo
• Projected year-2 tax: $2,296 · $191/mo
• Expected delta: +$1,471/yr (+$123/mo · 178.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 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: $20,426
• − Mortgage interest: −$15,684
• − Property taxes: −$825
• − Insurance: −$1,400
• − Repairs & maintenance: −$1,634
• − Management: −$1,634
• − Depreciation: −$8,145
• Taxable loss: −$8,897
• Est. tax savings @ 24.0%: +$2,135
• After-tax cash flow: $-1,573/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

+233.3% since first listed

4 events — show timeline

• 2026-05-13 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-24 Listed $280,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-17 Coming Soon $280,000 CANOPYMLS as Distributed by MLS Grid
• 2006-02-01 Sold (Public Records) $84,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $825 · +0.0% YoY. Source: county tax records.