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    17 Hubbard Ave Asheville, NC 28806

    View on Map
    Sponsored
    For Sale
    $624,000

    MULTI_FAMILY - Asheville, NC

    Property size:
    979 SF
    Lot size:
    0.29 Acres
    Days on Market:
    22
    Last Refresh:
    Mar 20 at 7:06 am

    Property Features for 17 Hubbard Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RS8
    Rooms
    Bathroom 1, Basement, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 2
    Bedrooms
    4
    APN
    9638-31-7805-00000
    Parking features
    Driveway
    Patio and Porch features
    Porch
    Basement
    Apartment
    Appliances
    Electric Oven, Electric Range, Electric Water Heater, Gas Water Heater, Refrigerator
    Size
    979 SF
    Lot size
    0.29 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Propane (Heating), Ductless (Heating), Natural Gas
    Cooling system
    Heat Pump, Ceiling Fan(s)

    Building Details

    Year built
    1924
    Number of units
    3
    Flooring type
    Wood, Vinyl, Tile
    Building materials
    Aluminum, Asbestos, Wood
    Roof type
    Shingle

    We can help!

    Listing Contact
    Chris Findley

    Mosaic Community Lifestyle Realty (828) 337-8190

    Listing agent Chris Findley (828) 242-9775

    Listing date Feb 26, 2026

    MLS# 4228998 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    West Asheville Multifamily Investment Opportunity

    This property presents an investment opportunity in West Asheville, located near Sunny Point Cafe and Haywood Road. The property includes three units situated in two standalone homes on a 0.29-acre lot. The units have a history of rentals. 17 Hubbard Avenue features a duplex with a 979 square foot apartment with 2 bedrooms and 1 bathroom upstairs, and a 420 square foot apartment with 1 bedroom and 1 bathroom downstairs. 19 Hubbard Avenue is a 412 square foot cottage with 1 bedroom and 1 bathroom. Each unit includes a porch, and all units have access to a large yard. Updates have been made in recent years, including water heaters, mini-splits, roofs, and gutters. The property is zoned RS8 and offers possibilities such as living in one unit and renting the others, or renting all three units.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.586494
    Latitude
    35.570593

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    FAQs

    What type of property is this?
    Multifamily property - Three units in two homes near Haywood Road corridor.
    Where is this multifamily property located?
    The property is located at 17 Hubbard Ave Asheville, NC.
    What is the asking price?
    The asking price for this property is $624,000.
    What are key features of this property?
    This property features: - Investment opportunity with three rental units in a desirable West Asheville location near Haywood Road.; - Proven rental history for all three units.; - Two standalone homes on a 0.29-acre lot, including a duplex and a cottage.
    (828) 242-9775
    Request Owner's contact information
    17 Hubbard Ave Asheville, NC 28806
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    17 Hubbard Ave Asheville, NC 28806
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    We can help!
    Listing Contact
    Chris Findley
    (828) 242-9775 (828) 707-9556
    Learn more
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