Denver Plan · Fletcher, NC 28732

$315,990

3 bd · 2.5 ba · 1,674 sqft · Townhouse · 341 Days on market

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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 +11.8/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Pantry
• Open concept living
• Dual vanities

Tags

• OPEN CONCEPT LIVING
• GRANITE COUNTERTOPS
• PANTRY
• CENTER ISLAND WITH BAR SEATING
• EN-SUITE BATHROOM
• DUAL VANITIES

Property features AI

Finance

• Financial info: List price: $315,990

Exterior

• Home design: Single-family plan home in Fletcher, NC; Inventory type: Plan
• Exterior features: Living area of 1,674 (listed)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan: Denver (new construction plan)

🏗️ New construction. The $315,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $329,778.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $316k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (12.4% below list).
• Recommended offer: $277k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• Market conditions: 208 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,534 units permitted in Henderson County in 2024 (558 in 5+ unit buildings).
• This rent runs 41% 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 $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 341 days — a 12% lower offer ($278k) is reasonable based on typical stale-listing flexibility.

Recommended offer $276,787 (12.4% 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. It's been on market 341 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $329,778
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 Lagoon Rd	0.33mi	3/2.5	1,674 (0%)	2mo	$326,860	$195	83
326 Lagoon Rd	0.33mi	3/2.5	1,699 (+2%)	2mo	$333,265	$196	81
346 Lagoon Rd	0.33mi	3/2.5	1,699 (+2%)	2mo	$324,890	$191	80
366 Lagoon Rd	0.33mi	3/2.5	1,699 (+2%)	3mo	$328,990	$194	80
317 Lagoon Rd	0.36mi	3/2.5	1,699 (+2%)	3mo	$334,690	$197	78
330 Lagoon Rd	0.34mi	3/2.5	1,774 (+6%)	1mo	$357,920	$202	74
342 Lagoon Rd	0.33mi	3/2.5	1,774 (+6%)	1mo	$354,790	$200	74
320 Lagoon Rd	0.33mi	3/2.5	1,774 (+6%)	1mo	$356,920	$201	74
362 Lagoon Rd	0.33mi	3/2.5	1,774 (+6%)	2mo	$354,920	$200	73
370 Lagoon Rd	0.33mi	3/2.5	1,774 (+6%)	2mo	$355,920	$201	73
321 Lagoon Rd	0.36mi	3/2.5	1,774 (+6%)	2mo	$348,000	$196	72
335 Lagoon Rd	0.36mi	3/2.5	1,774 (+6%)	3mo	$349,920	$197	70

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.36×
• Total profit: $-59,282
• Equity at exit: $49,171

10-year hold

• IRR: -10.5%
• Equity multiple: 0.36×
• Total profit: $-59,030
• Equity at exit: $28,513

Cash invested: $92,338 (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: 9.5×

Monthly cashflow live

• Estimated rent: $2,768 medium
• Mortgage (P&I): −$1,729
• Tax est. 1.5%: −$412 /mo · $4,947/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $-92

Break-even live

Break-even rent $2,885

Max offer price $316,407

Occupancy floor 98%

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: $82,444
• Closing costs: $9,893
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 Mud Creek Rd Fletcher, NC	4.0	2.0	1477	$2,595	$1.76	23d	1	0.76mi
1026 Thorncrest Dr Fletcher, NC	3.0	2.0	1472	$2,650	$1.80	14d	1	1.42mi

Listing history 16 events

1. 2026-06-18
   days on market $315,990 Active 341 DOM
2. 2026-06-17
   days on market $315,990 Active 340 DOM
3. 2026-06-16
   days on market $315,990 Active 339 DOM
4. 2026-06-15
   days on market $315,990 Active 338 DOM
5. 2026-06-14
   days on market $315,990 Active 336 DOM
6. 2026-06-13
   days on market $315,990 Active 335 DOM
7. 2026-06-10
   days on market $315,990 Active 333 DOM
8. 2026-06-09
   days on market $315,990 Active 332 DOM
9. 2026-06-08
   days on market $315,990 Active 331 DOM
10. 2026-06-07
    days on market $315,990 Active 330 DOM
11. 2026-06-05
    days on market $315,990 Active 327 DOM
12. 2026-06-03
    days on market $315,990 Active 326 DOM
13. 2026-06-02
    days on market $315,990 Active 325 DOM
14. 2026-06-01
    days on market $315,990 Active 324 DOM
15. 2026-05-31
    days on market $315,990 Active 323 DOM
16. 2026-05-30
    days on market $315,990 Active 322 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $33,214
• − Mortgage interest: −$18,473
• − Property taxes: −$4,947
• − Insurance: −$1,649
• − Repairs & maintenance: −$2,657
• − Management: −$2,657
• − Depreciation: −$9,594
• Taxable loss: −$6,762
• Est. tax savings @ 24.0%: +$1,623
• After-tax cash flow: $514/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