94 Foxden Dr #202 · Fletcher, NC 28732

$252,900

3 bd · 2.0 ba · 1,413 sqft · Condo public records · 71 Days on market

Built 2007 $360/mo HOA · 15% 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).

• Cash flow +12.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.4/10.0
• Schools +4.2/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This unit is MOVE IN ready with new carpet throughout and a well maintained interior. The community offers desirable amenities including a POOL, clubhouse, and playground, all just steps from your door. Located near Fletcher Elementary, FernLeaf Community Charter School, and Fletcher Community Park, this home is perfectly positioned for both convenience and recreation. Tucked away in a quiet, private setting at the back of the community, this well-maintained condo offers the perfect blend of comfort, convenience, and lifestyle. Enjoy peaceful surroundings with no road noise, while still being just minutes from both Asheville and Hendersonville. Bright and sunny with a split bedroom floorpla

Key facts

• $360 HOA
• Community pool
• Built 2007

Property features AI

Finance

• HOA & community: Mandatory HOA; Monthly association fee $250; Additional monthly association fee $110; Annual association expense listed; Community amenities include fitness center, outdoor pool, and playground

Exterior

• Parking: Assigned parking (1 assigned space); No main-level garage
• Utilities: City water; Public sewer
• Home design: Residential condominium; One-story (levels: One); Site built construction; Vinyl exterior
• Construction: Site built; Vinyl construction; Foundation: Other - see remarks; One story
• Exterior features: Balcony; Rear porch; Asphalt/paved road with private maintenance

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Heat Pump; Ceiling Fan(s); Central Air
• Interior features: Entry level is 2; Heat Pump heating; Ceiling fans and central air conditioning
• Laundry & utility: Upper level laundry; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $253k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (6.5% below list).
• Recommended offer: $235k (7.0% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 3.9% in Fletcher — 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 70/100 on livability (#129 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: amenities F, commute F, health & safety 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: Fletcher Elementary (math 48% / reading 47%, grade D, #490 of 1,410 statewide, top 35%, 482 students, 53% FRL); North Henderson High (math 72% / reading 58%, grade B, #161 of 535 statewide, top 30%, 1,146 students, 61% FRL).
• Market conditions: 208 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,534 units permitted in Henderson County in 2024 (558 in 5+ unit buildings).
• This rent runs 35% of the median local income ($82k/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 71 days — a 6% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $128k; list at $253k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,297 (7.0% 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 71 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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 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: 0.94% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.75%
• DSCR: 0.97
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -19.0%
• Equity multiple: 0.33×
• Total profit: $-47,156
• Equity at exit: $37,708

10-year hold

• IRR: -11.4%
• Equity multiple: 0.31×
• Total profit: $-48,540
• Equity at exit: $21,866

Cash invested: $70,812 (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 28732

• Home prices YoY: -26.8%
• Active inventory: 208
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,365 medium
• Mortgage (P&I): −$1,326
• Tax from tax record: −$121 /mo · $1,448/yr
• Insurance: −$105
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$360
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-100

Break-even live

Break-even rent $2,491

Max offer price $235,297

Occupancy floor 99%

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: $63,225
• Closing costs: $7,587
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
93 Foxden Dr Fletcher, NC	3.0	2.0	1413	$2,200	$1.56	23d	1	0.07mi
123 Foxden Dr Fletcher, NC	3.0	2.0	1186	$2,100	$1.77	23d	1	0.07mi
65 Cushion Pl Fletcher, NC	2.0	1.0	1010	$1,550	$1.53	23d	1	0.43mi
1026 Thorncrest Dr Fletcher, NC	3.0	2.0	1472	$2,650	$1.80	13d	1	1.18mi

HOA detail condo

• Monthly dues: $360 · $4,320/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $252,900 Active 71 DOM
2. 2026-06-17
   days on market $252,900 Active 70 DOM
3. 2026-06-16
   days on market $252,900 Active 69 DOM
4. 2026-06-15
   days on market $252,900 Active 68 DOM
5. 2026-06-14
   days on market $252,900 Active 66 DOM
6. 2026-06-13
   days on market $252,900 Active 65 DOM
7. 2026-06-10
   days on market $252,900 Active 63 DOM
8. 2026-06-09
   days on market $252,900 Active 62 DOM
9. 2026-06-08
   days on market $252,900 Active 61 DOM
10. 2026-06-07
    days on market $252,900 Active 60 DOM
11. 2026-06-05
    days on market $252,900 Active 57 DOM
12. 2026-06-03
    days on market $252,900 Active 56 DOM
13. 2026-06-02
    days on market $252,900 Active 55 DOM
14. 2026-06-01
    days on market $252,900 Active 54 DOM
15. 2026-05-31
    days on market $252,900 Active 53 DOM
16. 2026-05-30
    days on market $252,900 Active 52 DOM
17. 2026-05-12
    price $252,900
18. 2026-04-09
    listed $255,000 Active
19. 2026-04-07
    historical $255,000
20. 2011-10-26
    soldstatus $128,000

ⓘ 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: $1,448 · $121/mo
• Projected year-2 tax: $2,074 · $173/mo
• Expected delta: +$626/yr (+$52/mo · 43.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥96°F today · 22 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: $28,377
• − Mortgage interest: −$14,166
• − Property taxes: −$1,448
• − Insurance: −$1,931
• − Repairs & maintenance: −$2,270
• − Management: −$2,270
• − HOA: −$4,320
• − Depreciation: −$7,357
• Taxable loss: −$5,385
• Est. tax savings @ 24.0%: +$1,293
• After-tax cash flow: $97/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 — Fletcher

• Score: 70/100
• State rank: #129
• US rank: #7485

Category grades

Amenities F Commute F Cost of living B+ Crime A+ Employment B+ 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: 19,279
• Metro: Asheville, NC
• Population (ZIP): 19,279
• Household income: $81,852
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 154.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 5% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 6% Serbian 4% Lithuanian 3%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▼ -106.57%
• Current HPI: 290.4589
• Rent YoY: —
• 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

+97.6% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $252,900 CANOPYMLS as Distributed by MLS Grid
• 2026-04-09 Listed $255,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-07 Coming Soon $255,000 CANOPYMLS as Distributed by MLS Grid
• 2011-10-26 Sold (Public Records) $128,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,448 · +0.0% YoY. Source: county tax records.