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Building Details

Year Built 1987

Listing Agency: BluAxis Realty

Listed By: Carl Brown · License #253031 Show Phone

Source: Highperformancerea

Added: Aug 28 Changed: Oct 11 Last Checked: Oct 7 at 4:59PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BluAxis Realty

Investment Insights

Based on property information with market context.

This Arden property includes two freestanding manufactured homes that have been remodeled and are currently operating as Airbnb rentals. The sale includes furnishings, appliances, and personal property, allowing the existing setup to continue as short-term accommodations or serve as a furnished residential compound.

The homes sit on a level, creekfront lot with two separate decks positioned over the water. The property is located at 144 Clayton Rd in Arden, with access to Asheville, Hendersonville, and outdoor recreation in Transylvania County described as a short drive away. Asheville Regional Airport is also nearby, supporting convenient travel for owners and guests.

Key Highlights

• Two remodeled manufactured homes on one creekfront property
• Operating Airbnb rentals with furnishings included
• Sale includes appliances and personal property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,776

Cap Rate

3.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$235,520 $235.5K

Cap Rate 7%

$168,229 $168.2K

Cap Rate 9%

$130,844 $130.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,208 SF

Gross rent

$24.5K $20.28/SF

− Vacancy

−$3.1K −$2.56/SF

EGI

$21.4K $17.72/SF

− OpEx

−$9.6K −$7.98/SF

NOI

$11.8K $9.75/SF

Area

Buncombe County, NC

Vacancy

12.60%

Lease Rate

$20.28 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$235,520

Cap Rate 7%

$168,229

Cap Rate 9%

$130,844

Alternative Uses

Best Use

Apartment 5plus

$168.2K

$147.2K – $196.3K (±1% cap)

NOI $11,776 @ 7.0% cap · market cap 3.14%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$382.0K

$334.2K – $445.7K (±1% cap)

NOI $26,739 @ 7.0% cap · market cap 7.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Short term rental ...

Suggested Use

Top Pick Dental Office Building Supply Law Firm Auto Repair Shop Pharmacy Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

60

Businesses Nearby

Explore this area Business Placement

Demographics for 28704, NC

23,734

Population

11,514

Households

2.1

Avg Household Size

39

Median Age

41%

College-Educated

92%

High-School Grad

30.1 sq mi

ZIP Area

789

Density / Sq Mi

$79,088

Median Household Income

$39,072

Median Earnings

$1,369

Median Rent

$343,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Short term rental property - Two furnished manufactured homes with creek views, decks, and established Airbnb operations in Arden, North Carolina.

Where is this short term rental property located?

The property is located at 144 Clayton Rd Arden, NC.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Two remodeled manufactured homes on one creekfront property; Operating Airbnb rentals with furnishings included; Sale includes appliances and personal property