Creekfront Short-Term Rental
New
For Sale
$375,000
144 Clayton Rd, Arden, NC 28704
Two furnished manufactured homes with creek views, decks, and established Airbnb operations in Arden, North Carolina.
Property Size1,208 SF
Price / SF$310.43
Days on Market3
Property Features for 144 Clayton Rd
General Information
Standard status
Active
Size
1,208 SF
Property subtype
Multi-Family
Building Details
Year Built
1987
Listing Agency:
BluAxis Realty
(828) 506-2537
Listed By:
Carl Brown · License #253031
Source:
Highperformancerea
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 25 at 4:50AM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,776
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$235,520
$235.5K
Cap Rate 7%
$168,229
$168.2K
Cap Rate 9%
$130,844
$130.8K
Market Conditions
NOI Build-Up for 1,208 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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
NOI $26,739 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
