39 Henry White Ln · Woodfin, NC 28748

$159,000

3 bd · 2.0 ba · 2,052 sqft · Manufactured public records · 2 Days on market

Built 2004 1.61 ac lot $56/mo HOA · 3% of rent

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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 +22.6/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Schools +4.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy peaceful mountain living in this on frame modular home situated on 1.61 acres in a well-established neighborhood. Offering beautiful mountain views, this home features a spacious open-concept design that seamlessly connects the living, dining, and kitchen areas, creating an inviting space for everyday living and entertaining. The desirable split-bedroom floor plan provides privacy for the primary suite while comfortably accommodating family and guests. Start your mornings on the welcoming screened front porch, where you can take in the scenic surroundings, and spend your evenings relaxing or entertaining on the large rear deck. With plenty of outdoor space, picturesque views, and a co

Key facts

• 1.61 acre lot
• Built 2004

Property features AI

Finance

• Other: Directions provided in listing remarks
• HOA & community: Homeowners association managed by Cedar Management; HOA dues required: $56 per month

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: Community well water; Septic system installed
• Home design: Manufactured doublewide single-family residence; One level (single-story); Residential zoning (OU)
• Construction: Manufactured construction; Vinyl exterior; Crawl space foundation
• Exterior features: Gravel road access; Road maintenance: Other (see remarks); Lot of approximately 1.61 acres; Elevation around 2000 ft

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: No heating system specified; No cooling system specified
• Interior features: 9 rooms total; Den with fireplace; Mud room
• Laundry & utility: Laundry located in the mud room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Cap rate 8.3% vs local median 2.7% in Woodfin — 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 59/100 on livability (#538 in NC) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A-, cost of living B; Watch: schools F, amenities F, commute F.
• 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: 120 active listings in the ZIP; 3,305 units permitted in Buncombe County in 2024 (1,855 in 5+ unit buildings).

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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $28k; list at $159k implies a 458% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $159,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.07% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 7.8

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-8,433
• Equity at exit: $23,707

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $15,004
• Equity at exit: $13,747

Cash invested: $44,520 (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 28748

• Home prices YoY: -9.5%
• Active inventory: 120
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,704 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$118 /mo · $1,414/yr
• Insurance: −$66
• HOA: −$56
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $272

Break-even live

Break-even rent $1,359

Max offer price $159,000

Occupancy floor 79%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $56 · $672/yr

Listing history 6 events

1. 2026-06-18
   days on market $159,000 Active 2 DOM
2. 2026-06-17
   statusdays on market $159,000 Active 1 DOM
3. 2026-06-16
   days on market $159,000 Coming Soon 3 DOM
4. 2026-06-15
   days on market $159,000 Coming Soon 2 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $159,000 Coming Soon 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: $1,414 · $118/mo
• Projected year-2 tax: $1,414 · $118/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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,443
• − Mortgage interest: −$8,906
• − Property taxes: −$1,414
• − Insurance: −$795
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − HOA: −$672
• − Depreciation: −$4,625
• Taxable income: $760
• Est. tax owed @ 24.0%: −$182
• After-tax cash flow: $3,081/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 — Woodfin

• Score: 59/100
• State rank: #538
• US rank: #19731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,922

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 (81%)
• Race & ethnicity: White 81% Two or more races 11% Hispanic / Latino 10% Black 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Serbian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10% Russian/Polish/Slavic 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: ▼ -31.97%
• Current HPI: 306.1369
• 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

+152.4% since first listed

3 events — show timeline

• 2026-06-13 Coming Soon $159,000 CANOPYMLS as Distributed by MLS Grid
• 2004-07-22 Sold (Public Records) $28,500 Public Records
• 2000-12-18 Sold (Public Records) $63,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,414 · +4.4% YoY. Source: county tax records.