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    The Largest CRE Database in the US with Over 1 Million Listings

    40 Country Bear Ln Flat Rock, NC 28731

    Sponsored
    For Sale
    $718,000

    MULTI_FAMILY - Flat Rock, NC

    Lot size:
    1.10 Acres
    Days on Market:
    16
    Last Refresh:
    Jan 26 at 10:06 am

    Property Features for 40 Country Bear Ln

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Window Treatments
    Zoning
    R2R
    Rooms
    Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1, Laundry Room, Bathroom 2, Bedroom 2
    Bedrooms
    3
    APN
    9936740
    Parking features
    Tandem, Driveway, Garage, Garage - Attached
    Patio and Porch features
    Patio, Porch, Deck
    Pets allowed
    Yes
    Pool private
    1
    Fireplace
    1
    Appliances
    Dishwasher, Electric Range, Electric Water Heater, Exhaust Fan, Microwave, Refrigerator, Refrigerator with Ice Maker, Washer/Dryer
    Lot size
    1.10 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Propane (Heating)
    Cooling system
    Central Air, Electric, Ceiling Fan(s)
    Water source
    Well

    Building Details

    Year built
    1987
    Number of units
    2
    Flooring type
    Vinyl, Carpet, Tile
    Building materials
    Stone, Vinyl

    We can help!

    Listing Contact
    Mary Helen Letterle

    EXP REALTY LLC (336) 937-9123

    Listing agent Mary Helen Letterle (828) 782-3515

    Listing date Jan 11, 2026

    MLS# 4332648 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

    Two-Unit Property with Garage/Workshop Potential

    This two-unit property offers multi-generational living and income potential in a private setting. Situated on 1.1 acres with wooded and mountain views, the home borders the Green River Game Lands, providing direct access to hiking trails, rivers, and hunting. Wildlife sightings include deer and wild turkeys. The property features two fully separate living units, suitable for an in-law suite, caregiver quarters, space for an adult child, or a 'house hack' opportunity. Unit 1 includes 2 bedrooms, with the primary bedroom on the main level featuring an en-suite bathroom. Additionally, there is a bonus room/office/flex space with an en-suite bathroom, two sunrooms with backyard access, a gas fireplace, abundant natural light, generous storage, and a remodeled kitchen with granite countertops and an updated tiled backsplash. Unit 2 offers a one-bedroom, one-bathroom duplex-style suite with a full kitchen, living/dining area, oversized walk-in closet, and a large utility/storage room. The property includes a 2-car garage plus a 4-car tandem lower-level garage with oversized doors, suitable for outdoor enthusiasts, contractors, hobbyists, equipment storage, or a home-based business. A large pool with a 9' diving end provides outdoor space for entertaining. The HVAC systems were updated in 2019 and 2025. The property is located minutes from shopping, dining, and local attractions in Flat Rock, North Carolina.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Building Supply Wholesale Shop Auto Repair Shop Hotel & Motel Kitchen & Bath Food Market HVAC Service Furniture Store Pawn Shop Smoke and Vape Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Flat Rock
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.404088
    Latitude
    35.2509

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    FAQs

    What type of property is this?
    Duplex - Two separate living units on 1.1 acres near Green River.
    Where is this duplex located?
    The property is located at 40 Country Bear Ln Flat Rock, NC.
    What is the asking price?
    The asking price for this property is $718,000.
    What are key features of this property?
    This property features: - Two separate living units offer multi-generational living or income potential (house hacking).; - **Exceptional garage and workshop space:** 2-car garage plus 4-car tandem lower level garage with oversized doors.; - Private 1.1-acre lot bordering Green River Game Lands with direct access to outdoor activities and wildlife.
    (828) 782-3515
    Request Owner's contact information
    40 Country Bear Ln Flat Rock, NC 28731
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    Flat Rock, NC 28731
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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
    40 Country Bear Ln Flat Rock, NC 28731
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    We can help!
    Listing Contact
    Mary Helen Letterle
    (828) 782-3515
    Learn more
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