226 Mount Allen Hts · Black Mountain, NC 28711

$180,000

2 bd · 1.0 ba · 1,552 sqft · SingleFamily public records · 226 Days on market

Built 1961 0.42 ac lot $116/sqft · 67% below area ↓ 40% since listing

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Why this score? — see what drove the C+ 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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +4.4/5.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

Key facts

• 0.42 acre lot
• Ur8 zoning
• Block construction

Tags

• 0.42 ACRE LOT
• SHORT WALK TO LAKE TOMAHAWK
• UR8 ZONING
• BLOCK CONSTRUCTION
• SEWER LINE PUMP SYSTEM
• UTILITIES ARE CONNECTED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.3% in Black Mountain — 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 87/100 on livability (#2 in NC, #297 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+.
• 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.
• Market conditions: 302 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).
• This rent runs 32% of the median local income ($75k/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 $1k of loan paydown is wiped out by about $5k 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 226 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $120k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.12% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.11%
• DSCR: 1.45
• GRM: 7.4

CMA / ARV

• ARV (median comp): $548,264
• List price: $180,000
• Delta: -67.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Tudor Way	0.15mi	3/2.5 (+1)	1,667 (+7%)	7mo	$550,000	$330	64
200 Stafford St	0.47mi	3/2.5 (+1)	1,642 (+6%)	1mo	$540,000	$329	57
124 Hilltop Rd	0.30mi	3/2.0 (+1)	1,390 (-10%)	5mo	$450,000	$324	56
602 Tomahawk Ave	0.35mi	3/2.0 (+1)	1,670 (+8%)	7mo	$425,000	$254	56
100 Chapel Rd	0.58mi	3/2.0 (+1)	1,615 (+4%)	2mo	$598,500	$371	55
508 S Oconeechee Ave #1	0.29mi	3/2.5 (+1)	1,723 (+11%)	7mo	$574,500	$333	52
207 S Oconeechee Ave	0.23mi	3/2.0 (+1)	1,342 (-14%)	8mo	$517,600	$386	51
715 Laurel Ave	0.57mi	2/1.0	1,342 (-14%)	0mo	$460,000	$343	50
113 Craggy St	0.26mi	3/2.5 (+1)	1,770 (+14%)	4mo	$612,000	$346	50
102 Altamahaw Ave	0.37mi	2/2.5	1,347 (-13%)	5mo	$447,000	$332	50
25 Amys Way	0.71mi	3/2.0 (+1)	1,639 (+6%)	4mo	$494,500	$302	45
305 and 305 1/2 N Dougherty St	0.63mi	3/2.0 (+1)	1,765 (+14%)	7mo	$650,000	$368	33

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,141
• Equity at exit: $26,839

10-year hold

• IRR: 8.6%
• Equity multiple: 1.65×
• Total profit: $32,892
• Equity at exit: $15,563

Cash invested: $50,400 (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 28711

• Active inventory: 302
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,016 high
• Mortgage (P&I): −$944
• Tax from tax record: −$149 /mo · $1,792/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $425

Break-even live

Break-even rent $1,479

Max offer price $180,000

Occupancy floor 74%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Hiawassee Ave Black Mountain, NC	2.0	2.0	1145	$1,995	$1.74	13d	1	0.20mi
15 Asa Ct Black Mountain, NC	3.0	2.0	1512	$1,950	$1.29	43d	1	0.41mi
34 Fortune St Black Mountain, NC	3.0	2.0	1400	$1,950	$1.39	13d	1	0.47mi
9th St Black Mountain, NC	2.0	2.0	1228	$2,200	$1.79	21d	1	0.81mi
106 Louisa St Black Mountain, NC	2.0	1.0	1100	$1,800	$1.64	23d	1	1.02mi
114 Richard Ln Black Mountain, NC	3.0	2.0	1515	$2,495	$1.65	43d	1	1.06mi
829 Montreat Rd Black Mountain, NC	2.0	2.0	1130	$2,275	$2.01	23d	1	1.12mi
88 Atkins Dr Black Mountain, NC	3.0	2.0	1410	$2,200	$1.56	13d	1	1.20mi

Listing history 24 events

1. 2026-06-18
   days on market $180,000 Active 226 DOM
2. 2026-06-17
   days on market $180,000 Active 225 DOM
3. 2026-06-16
   days on market $180,000 Active 224 DOM
4. 2026-06-15
   days on market $180,000 Active 223 DOM
5. 2026-06-14
   days on market $180,000 Active 221 DOM
6. 2026-06-10
   days on market $180,000 Active 218 DOM
7. 2026-06-09
   days on market $180,000 Active 217 DOM
8. 2026-06-08
   days on market $180,000 Active 216 DOM
9. 2026-06-07
   days on market $180,000 Active 215 DOM
10. 2026-06-03
    days on market $180,000 Active 211 DOM
11. 2026-06-02
    days on market $180,000 Active 210 DOM
12. 2026-06-01
    days on market $180,000 Active 209 DOM
13. 2026-05-31
    days on market $180,000 Active 208 DOM
14. 2026-05-30
    days on market $180,000 Active 207 DOM
15. 2026-04-28
    price $180,000 711-char remark

    Show marketing remark (712 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

16. 2026-04-28
    price $180,000 712-char remark

    Show marketing remark (712 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

17. 2026-03-15
    price $200,000 712-char remark

    Show marketing remark (711 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

18. 2026-03-15
    price $200,000 711-char remark

    Show marketing remark (711 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

19. 2026-03-03
    price $235,000 711-char remark

    Show marketing remark (712 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

20. 2026-03-03
    price $235,000 712-char remark

    Show marketing remark (712 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

21. 2025-11-27
    price $275,000 712-char remark

    Show marketing remark (711 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

22. 2025-11-27
    price $275,000 711-char remark

    Show marketing remark (711 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

23. 2025-11-04
    listed $300,000 Active 711-char remark

    Show marketing remark (711 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

24. 2025-10-31
    listed $300,000 Active 712-char remark

    Show marketing remark (712 chars)

    Great opportunity for investors and builders to bring their imagination and their tools! This .42 acre lot is located a short walk to Lake Tomahawk and the tennis courts and less than a mile from downtown Black Mountain. Keep as one lot or subdivide. Black Mountain zoning has confirmed possibility of three lots with UR8 zoning. Lots would require a shared driveway if you do three lots. House needs complete renovation or it could remove from the property and start fresh. The original home is block construction could keep it and build up. Sewer line has a pump system installed by town of Black Mountain. Utilities are connected. The Square footage is approximate. No survey on file. Sold As is -no repairs.

ⓘ 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: $1,792 · $149/mo
• Projected year-2 tax: $1,792 · $149/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,195
• − Mortgage interest: −$10,083
• − Property taxes: −$1,792
• − Insurance: −$900
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$5,236
• Taxable income: $2,313
• Est. tax owed @ 24.0%: −$555
• After-tax cash flow: $4,540/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 — Black Mountain

• Score: 87/100
• State rank: #2
• US rank: #297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Black Mountain, NC
• County: Buncombe County · 241,085 people
• City population: 12,663
• Metro: Asheville, NC
• Population (ZIP): 12,663
• Household income: $74,761
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 556.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Serbian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1% Other Indo-European 1%

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: ▼ -227.20%
• Current HPI: 314.8029
• 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

-40.0% since first listed

10 events — show timeline

• 2026-04-28 Price Changed $180,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $180,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-15 Price Changed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-15 Price Changed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $235,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $235,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-27 Price Changed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-27 Price Changed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-04 Listed $300,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-31 Listed $300,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+9.3%/yr

Latest (2025): $1,792 · +3.5% YoY. Source: county tax records.