282 W Cherry Rd · Hayesville, NC 28904

$239,900

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 17 Days on market

Built 2006 1.15 ac lot

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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 +9.9/30.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0

Listing remarks MLS

Opportunity awaits with this 2-bedroom, 2-bathroom mobile home in the heart of the beautiful North Carolina mountains in Hayesville. Full of potential, this property is ready for someone to add their personal touch and bring it back to life. Whether you're searching for a primary residence, investment property, or mountain getaway, this home offers a functional layout and endless possibilities. A true standout feature is the impressive 32'x60' partially finished shop building complete with two half bathrooms — ideal for a workshop, business space, storage, hobbies, or future expansion. With direct road access to the home plus a separate driveway to the shop, the setup offers added convenience and flexibility. Conveniently located just minutes from downtown Hayesville, you'll enjoy easy access to shopping, dining, outdoor recreation, and nearby destinations including Lake Chatuge, Young Harris, and Hiawassee, all while enjoying the peace and beauty of a mountain setting.

Key facts

• Direct road access
• Nearby destinations
• 1.15 acre lot

Tags

• DIRECT ROAD ACCESS
• SEPARATE DRIVEWAY TO THE SHOP
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• NEARBY DESTINATIONS

Property features AI

Finance

• HOA & community: Association fee paid annually

Exterior

• Parking: Driveway with gravel surface; Open parking available
• Utilities: Shared well water; Septic tank sewer
• Home design: One-level manufactured home; Resale property; Built in 2006; Has a view; Level to sloping topography; Road frontage
• Construction: Vinyl siding; Shingle roof; Manufactured house construction
• Exterior features: Vinyl windows; Deck; Exterior storage

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Primary bedroom on the main level
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air
• Interior features: Pantry; Ceiling fan(s); Sheetrock walls; Gas log fireplace
• Laundry & utility: Washer; Dryer; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (33.4% below list).
• Recommended offer: $160k (33.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.5% in Hayesville — 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 67/100 on livability (#209 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: housing C-, crime F, amenities F.
• Clay County Schools (rural): math 47% / reading 50% proficiency, ranked #73 of 178 in NC (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 692 active listings in the ZIP; 143 units permitted in Clay County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.2% local appreciation)).
• Clay County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,690 (33.4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F 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?
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: 0.67% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.69%
• DSCR: 0.88
• GRM: 12.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.96×
• Total profit: $-2,406
• Equity at exit: $84,912

10-year hold

• IRR: 4.0%
• Equity multiple: 1.50×
• Total profit: $33,604
• Equity at exit: $115,208

Cash invested: $67,172 (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 28904

• Home prices YoY: 0.4%
• Active inventory: 692
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$54 /mo · $651/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-151

Break-even live

Break-even rent $1,788

Max offer price $213,277

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $239,900 Active 17 DOM
2. 2026-06-17
   days on market $239,900 Active 16 DOM
3. 2026-06-16
   days on market $239,900 Active 15 DOM
4. 2026-06-15
   days on market $239,900 Active 14 DOM
5. 2026-06-14
   days on market $239,900 Active 12 DOM
6. 2026-06-13
   days on market $239,900 Active 11 DOM
7. 2026-06-10
   days on market $239,900 Active 9 DOM
8. 2026-06-09
   days on market $239,900 Active 8 DOM
9. 2026-06-08
   days on market $239,900 Active 7 DOM
10. 2026-06-07
    days on market $239,900 Active 6 DOM
11. 2026-06-03
    days on market $239,900 Active 2 DOM
12. 2026-06-02
    days on marketlisting id $239,900 Active 1 DOM
13. 2026-06-01
    days on market $239,900 Active 6 DOM
14. 2026-05-31
    days on market $239,900 Active 5 DOM
15. 2026-05-31
    days on market $239,900 Active 4 DOM
16. 2026-05-26
    listed $239,900 Active 990-char remark

    Show marketing remark (990 chars)

    Opportunity awaits with this 2-bedroom, 2-bathroom mobile home in the heart of the beautiful North Carolina mountains in Hayesville. Full of potential, this property is ready for someone to add their personal touch and bring it back to life. Whether you're searching for a primary residence, investment property, or mountain getaway, this home offers a functional layout and endless possibilities. A true standout feature is the impressive 32'x60' partially finished shop building complete with two half bathrooms — ideal for a workshop, business space, storage, hobbies, or future expansion. With direct road access to the home plus a separate driveway to the shop, the setup offers added convenience and flexibility. Conveniently located just minutes from downtown Hayesville, you'll enjoy easy access to shopping, dining, outdoor recreation, and nearby destinations including Lake Chatuge, Young Harris, and Hiawassee, all while enjoying the peace and beauty of a mountain setting.

17. 2026-05-26
    listed $239,900 Active

    Show marketing remark (990 chars)

    Opportunity awaits with this 2-bedroom, 2-bathroom mobile home in the heart of the beautiful North Carolina mountains in Hayesville. Full of potential, this property is ready for someone to add their personal touch and bring it back to life. Whether you're searching for a primary residence, investment property, or mountain getaway, this home offers a functional layout and endless possibilities. A true standout feature is the impressive 32'x60' partially finished shop building complete with two half bathrooms — ideal for a workshop, business space, storage, hobbies, or future expansion. With direct road access to the home plus a separate driveway to the shop, the setup offers added convenience and flexibility. Conveniently located just minutes from downtown Hayesville, you'll enjoy easy access to shopping, dining, outdoor recreation, and nearby destinations including Lake Chatuge, Young Harris, and Hiawassee, all while enjoying the peace and beauty of a mountain setting.

ⓘ 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: $651 · $54/mo
• Projected year-2 tax: $1,967 · $164/mo
• Expected delta: +$1,316/yr (+$110/mo · 202.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,163
• − Mortgage interest: −$13,438
• − Property taxes: −$651
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$6,979
• Taxable loss: −$6,171
• Est. tax savings @ 24.0%: +$1,481
• After-tax cash flow: $-328/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: Clay County Schools
• NCES district ID: 3700870
• Math proficiency: 47% ▲ 5.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $37,205
• Composite: 40.31/100
• National rank: #3751
• State rank: #73 of 178 in NC

Livability — Hayesville

• Score: 67/100
• State rank: #209
• US rank: #10111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,614

Population outlook (Clay County) Hauer SSP2

• Today (2025): 10,855 people
• By 2030: 10,820 · -0.3%
• By 2040: 10,527 · -3.0%
• By 2050: 10,099 · -7.0%
• By 2075: 9,094 · -16.2%
• By 2100: 7,834 · -27.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 6% Slovak 3% Lithuanian 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+50.1) · D 24.6% · R 74.7%
• 2008→2024 swing: -14.5pp toward R · 2008: -35.6pp · 2024: -50.1pp
• All cycles: 2024: R+50.1 2020: R+49.5 2016: R+51.7 2012: R+42.5 2008: R+35.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.24%
• Current HPI: 338.2524
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-26 Listed $239,900 MLBOR
• 2026-05-26 Listed $239,900 NEGBOR

Property tax history

+2.3%/yr

Latest (2025): $651 · -46.9% YoY. Source: county tax records.