337 Fires Creek Rd · Hayesville, NC 28904

$220,000

2 bd · 1.0 ba · 914 sqft · SingleFamily public records · 61 Days on market

Built 1955 0.48 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 +11.3/30.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

This completely renovated farmhouse overlooking pasture land and big beautiful mountain views blends timeless character with modern updates, offering the best of both worlds. Thoughtful renovations enhance the home's original charm while providing updated comforts throughout the living spaces. New granite countertops, custom backsplash, glass door knobs, vinyl plank flooring throughout, wood ceilings, tiled showers are just a few of the upgrades this home has. Enjoy relaxing or entertaining on the expansive wraparound deck, perfect for taking in the surroundings in every season. The unfinished basement offers excellent storage or the opportunity to create additional living space to suit your needs. Full of warmth, potential, and character, this home is ready for its next chapter. The Property extends across the fires creek road into the graded out area which could be used for extra parking, storage building or whatever you might want. TAKE A LOOK!!!!

Key facts

• Custom backsplash
• Wood ceilings
• Tiled showers

Tags

• GRANITE COUNTERTOPS
• CUSTOM BACKSPLASH
• VINYL PLANK FLOORING
• WOOD CEILINGS
• TILED SHOWERS
• WRAPAROUND DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-80 ($-966/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (30.4% below list).
• Recommended offer: $153k (30.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 2.6% 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.
• Zoned schools: Hayesville Elementary (math 50% / reading 49%, grade D, #417 of 1,410 statewide, top 32%, 270 students, 66% FRL); Hayesville Middle (math 40% / reading 48%, grade D, #176 of 475 statewide, top 38%, 274 students, 63% FRL); Hayesville High (math 67% / reading 57%, grade B-, #184 of 535 statewide, top 37%, 393 students, 50% FRL).
• Market conditions: 694 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 $4k 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 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago 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.
• Current owner paid $130k; list at $220k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,176 (30.4% 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 61 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.70% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• GRM: 12.0

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,469
• Equity at exit: $77,868

10-year hold

• IRR: 5.0%
• Equity multiple: 1.63×
• Total profit: $38,744
• Equity at exit: $105,652

Cash invested: $61,600 (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: 694
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,532 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$45 /mo · $542/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $-80

Break-even live

Break-even rent $1,634

Max offer price $205,785

Occupancy floor —

Sensitivity live

Price	-10% $44	-5% $-18	+0% $-80	+5% $-143	+10% $-205
Rent	-10% $-201	-5% $-141	+0% $-80	+5% $-20	+10% $41
Rate	-1.0pp $30	-0.5pp $-25	base $-80	+0.5pp $-137	+1.0pp $-195

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-03
   days on marketlisting id $220,000 Pending 61 DOM
2. 2026-06-02
   days on marketlisting id $220,000 Pending
3. 2026-04-21
   status Pending

   Show marketing remark (966 chars)

   This completely renovated farmhouse overlooking pasture land and big beautiful mountain views blends timeless character with modern updates, offering the best of both worlds. Thoughtful renovations enhance the home's original charm while providing updated comforts throughout the living spaces. New granite countertops, custom backsplash, glass door knobs, vinyl plank flooring throughout, wood ceilings, tiled showers are just a few of the upgrades this home has. Enjoy relaxing or entertaining on the expansive wraparound deck, perfect for taking in the surroundings in every season. The unfinished basement offers excellent storage or the opportunity to create additional living space to suit your needs. Full of warmth, potential, and character, this home is ready for its next chapter. The Property extends across the fires creek road into the graded out area which could be used for extra parking, storage building or whatever you might want. TAKE A LOOK!!!!

4. 2026-04-21
   status Pending 966-char remark

   Show marketing remark (966 chars)

   This completely renovated farmhouse overlooking pasture land and big beautiful mountain views blends timeless character with modern updates, offering the best of both worlds. Thoughtful renovations enhance the home's original charm while providing updated comforts throughout the living spaces. New granite countertops, custom backsplash, glass door knobs, vinyl plank flooring throughout, wood ceilings, tiled showers are just a few of the upgrades this home has. Enjoy relaxing or entertaining on the expansive wraparound deck, perfect for taking in the surroundings in every season. The unfinished basement offers excellent storage or the opportunity to create additional living space to suit your needs. Full of warmth, potential, and character, this home is ready for its next chapter. The Property extends across the fires creek road into the graded out area which could be used for extra parking, storage building or whatever you might want. TAKE A LOOK!!!!

5. 2026-03-18
   status Active
6. 2026-03-13
   status Pending
7. 2026-02-19
   listed $220,000 Active 966-char remark

   Show marketing remark (966 chars)

   This completely renovated farmhouse overlooking pasture land and big beautiful mountain views blends timeless character with modern updates, offering the best of both worlds. Thoughtful renovations enhance the home's original charm while providing updated comforts throughout the living spaces. New granite countertops, custom backsplash, glass door knobs, vinyl plank flooring throughout, wood ceilings, tiled showers are just a few of the upgrades this home has. Enjoy relaxing or entertaining on the expansive wraparound deck, perfect for taking in the surroundings in every season. The unfinished basement offers excellent storage or the opportunity to create additional living space to suit your needs. Full of warmth, potential, and character, this home is ready for its next chapter. The Property extends across the fires creek road into the graded out area which could be used for extra parking, storage building or whatever you might want. TAKE A LOOK!!!!

8. 2026-02-10
   listed $220,000 Active
9. 2020-12-03
   soldstatus $130,000 253-char remark

   Show marketing remark (253 chars)

   QUAINT MOUNTAIN CABIN on Fires Creek Rd just outside of downtown Hayesville, NC. Recently renovated kitchen, lots of cabinet space. Everything you need on one level plus large basement area that is great for storage. Plenty or parking. Very easy access.

10. 2020-12-03
    soldstatus $130,000

    Show marketing remark (253 chars)

    QUAINT MOUNTAIN CABIN on Fires Creek Rd just outside of downtown Hayesville, NC. Recently renovated kitchen, lots of cabinet space. Everything you need on one level plus large basement area that is great for storage. Plenty or parking. Very easy access.

11. 2020-08-24
    listed $134,900 253-char remark

    Show marketing remark (253 chars)

    QUAINT MOUNTAIN CABIN on Fires Creek Rd just outside of downtown Hayesville, NC. Recently renovated kitchen, lots of cabinet space. Everything you need on one level plus large basement area that is great for storage. Plenty or parking. Very easy access.

12. 2017-10-13
    soldstatus $106,000
13. 2009-08-25
    soldstatus $45,000
14. 2009-03-12
    listed $55,000

ⓘ 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: $542 · $45/mo
• Projected year-2 tax: $1,804 · $150/mo
• Expected delta: +$1,262/yr (+$105/mo · 232.7%)

ⓘ 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 4/10 Moderate 8 d/yr ≥98°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,381
• − Mortgage interest: −$12,323
• − Property taxes: −$542
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,470
• − Management: −$1,470
• − Depreciation: −$6,400
• Taxable loss: −$4,926
• Est. tax savings @ 24.0%: +$1,182
• After-tax cash flow: $216/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

+300.0% since first listed

12 events — show timeline

• 2026-04-21 Pending — NEGBOR
• 2026-04-21 Pending — MLBOR
• 2026-03-18 Relisted — NEGBOR
• 2026-03-13 Pending — NEGBOR
• 2026-02-19 Listed $220,000 MLBOR
• 2026-02-10 Listed $220,000 NEGBOR
• 2020-12-03 Sold (Public Records) $130,000 Public Records
• 2020-12-03 Sold (MLS) $130,000 NEGBOR
• 2020-08-24 Listed $134,900 NEGBOR
• 2017-10-13 Sold (Public Records) $106,000 Public Records
• 2009-08-25 Sold (MLS) $45,000 NEGBOR
• 2009-03-12 Listed $55,000 NEGBOR

Property tax history

+5.0%/yr

Latest (2025): $542 · +25.3% YoY. Source: county tax records.