405 Creekview Rd · Hendersonville, NC 28792

$329,000

3 bd · 2.5 ba · 1,699 sqft · Townhouse · 16 Days on market

Built 2026 1,306 sqft lot Est $311k · 6% over $150/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).

• Cash flow +10.7/30.0
• ARV discount +4.9/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Community features include clubhouse is located at Cantrell Hills with pool, fitness center, playground, dogpark. Enjoy simple living with our new construction townhomes! This floorplan offers a large kitchen complete with island, ss appliances and tile backsplash, an open living area and plenty of storage space. The primary suite with attached bath, along with two other bedrooms can be found on the second floor. * Home features are subject to change without notice. Internet service not included. Sq footages are approximate *

Key facts

• Fitness center
• Clubhouse
• Dogpark

Tags

• CLUBHOUSE
• POOL
• FITNESS CENTER
• PLAYGROUND
• DOGPARK
• LARGE KITCHEN

Property features AI

Finance

• Other: Subdivision restrictions; Development status: Completed
• HOA & community: HOA managed by William Douglas Mgmt; Mandatory HOA dues: $150 monthly; Community clubhouse; Dog park; Fitness center; Street lights; Pets allowed

Exterior

• Parking: Attached garage with garage door opener (garage faces front); 1 garage space; 2 open parking spaces
• Utilities: City water; Public sewer
• Home design: Townhouse; Residential property; Two levels; Site-built construction; New construction; Entry level 1
• Construction: Hardboard siding; Slab foundation; Built by D.R. Horton (model: Lansing B)
• Exterior features: Patio; Lawn maintenance included; Level lot; Concrete and paved roads; Private maintained road (dedication to public use pending acceptance)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Disposal; Plumbed for ice maker
• Bedrooms: 3 bedrooms (all on upper level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (upper level); 1 half bathroom (main level)
• Heating & cooling: Heat pump (heating and cooling)
• Interior features: Open floorplan; Breakfast bar; Pantry; Walk-in closet(s); 7 total rooms; Entry level: 1
• Laundry & utility: Laundry closet on upper level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $329k.

Deal economics

• At list price, monthly cash flow is $-156 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (26.4% below list).
• Recommended offer: $242k (26.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.5% in Hendersonville — 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 77/100 on livability (#29 in NC, #2,939 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime D+, employment D+, 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: Sugarloaf Elementary (math 47% / reading 40%, grade F, #618 of 1,410 statewide, top 44%, 416 students, 81% FRL); Hendersonville High (math 57% / reading 77%, grade B, #142 of 535 statewide, top 28%, 784 students, 43% FRL) — zoned schools average 62% FRL vs 46% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 364 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,534 units permitted in Henderson County in 2024 (558 in 5+ unit buildings).
• At $2,421/mo this rent would consume 52% 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 $2k of loan paydown is wiped out by about $10k 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 16 days — a 2% lower offer ($324k) is reasonable based on typical stale-listing flexibility.

Recommended offer $242,066 (26.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.74% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.03%
• DSCR: 0.91
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $310,917
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
375 Creekview Rd	0.02mi	3/2.5	1,699 (0%)	1mo	$337,765	$199	98
358 Creekview Rd	0.04mi	3/2.5	1,699 (0%)	0mo	$279,000	$164	98
346 Creekview Rd	0.04mi	3/2.5	1,699 (0%)	1mo	$279,000	$164	97
384 Creekview Rd	0.03mi	3/2.5	1,699 (0%)	1mo	$334,000	$197	97
377 Creekview Rd	0.02mi	3/2.5	1,699 (0%)	4mo	$338,265	$199	96
300 Creekview Rd	0.06mi	3/2.5	1,699 (0%)	2mo	$305,000	$180	95
350 Creekview Rd	0.04mi	3/2.5	1,674 (-2%)	3mo	$279,990	$167	93
342 Creekview Rd	0.04mi	3/2.5	1,774 (+4%)	1mo	$307,000	$173	90
381 Creekview Rd	0.02mi	3/2.5	1,774 (+4%)	4mo	$364,645	$206	89
364 Creekview Rd	0.05mi	3/2.5	1,774 (+4%)	2mo	$325,000	$183	89
362 Creekview Rd	0.05mi	3/2.5	1,774 (+4%)	3mo	$309,000	$174	88
54 Lake Pointe Cir	0.73mi	3/2.5	1,784 (+5%)	3mo	$457,000	$256	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -19.1%
• Equity multiple: 0.33×
• Total profit: $-61,765
• Equity at exit: $49,055

10-year hold

• IRR: -10.6%
• Equity multiple: 0.34×
• Total profit: $-60,489
• Equity at exit: $28,446

Cash invested: $92,120 (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: 11.3×

Monthly cashflow live

• Estimated rent: $2,421 high
• Mortgage (P&I): −$1,725
• Tax from tax record: −$55 /mo · $666/yr
• Insurance: −$137
• HOA: −$150
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-156

Break-even live

Break-even rent $2,618

Max offer price $301,522

Occupancy floor —

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Cedar Hill Rd Hendersonville, NC	3.0	2.5	1674	$2,300	$1.37	21d	1	0.09mi
130 Creekview Rd Hendersonville, NC	3.0	2.5	1774	$2,495	$1.41	23d	1	0.13mi
146 Creekview Rd Hendersonville, NC	3.0	3.0	1700	$2,595	$1.53	23d	1	0.14mi
146 Creekview Rd Unit 1 Hendersonville, NC	3.0	2.5	1700	$2,595	$1.53	23d	1	0.14mi
382 Red Bud CIR Hendersonville, NC	1.0–3.0	1.0–2.0	1166	$2,099	$1.80	23d	30	0.59mi
102 Francis Rd Hendersonville, NC	1.0–3.0	1.0–2.0	1120	$2,354	$2.10	13d	27	0.97mi
48 N Rowe Rd Hendersonville, NC	3.0	2.0	1550	$2,495	$1.61	13d	1	1.28mi
2168 Howard Gap Rd Apt 10 Hendersonville, NC	2.0	1.5	1200	$1,495	$1.25	23d	1	1.42mi
107 Cori Dr Hendersonville, NC	2.0	2.0	1152	$2,200	$1.91	23d	1	1.43mi

HOA detail

• Monthly dues: $150 · $1,800/yr
• Likely covers: internetpoolgym

Listing history 13 events

1. 2026-06-18
   days on market $329,000 Active 16 DOM
2. 2026-06-17
   days on market $329,000 Active 15 DOM
3. 2026-06-16
   days on market $329,000 Active 14 DOM
4. 2026-06-15
   days on market $329,000 Active 13 DOM
5. 2026-06-14
   days on market $329,000 Active 11 DOM
6. 2026-06-13
   days on market $329,000 Active 10 DOM
7. 2026-06-10
   days on market $329,000 Active 8 DOM
8. 2026-06-09
   days on market $329,000 Active 7 DOM
9. 2026-06-08
   days on market $329,000 Active 6 DOM
10. 2026-06-07
    days on market $329,000 Active 5 DOM
11. 2026-06-05
    pricedays on market $329,000 Active 2 DOM
12. 2026-06-03
    remarks 531-char remark
13. 2026-06-03
    listed $337,265 Active 1 DOM

ⓘ 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: $666 · $55/mo
• Projected year-2 tax: $2,698 · $225/mo
• Expected delta: +$2,032/yr (+$169/mo · 305.3%)

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

Taxation est. · year 1

• Rental income: $29,048
• − Mortgage interest: −$18,429
• − Property taxes: −$666
• − Insurance: −$1,645
• − Repairs & maintenance: −$2,324
• − Management: −$2,324
• − HOA: −$1,800
• − Depreciation: −$9,571
• Taxable loss: −$7,710
• Est. tax savings @ 24.0%: +$1,851
• After-tax cash flow: $-16/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 — Hendersonville

• Score: 77/100
• State rank: #29
• US rank: #2939

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hendersonville, NC
• County: Henderson County · 78,587 people
• City population: 51,753
• 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

1 event — show timeline

• 2026-06-02 Listed $337,265 CANOPYMLS as Distributed by MLS Grid