4-Unit Residential
New
For Sale
$645,000
228 Stoney Mountain Road #25 26, Hendersonville, NC 28791
The four residences are distributed between a primary house and a separate rear building.
Property Size1,930 SF
Price / SF$214.29
Days on Market4
Property Features for 228 Stoney Mountain Road #25 26
General Information
Standard status
Active
Size
1,930 SF
Property subtype
Fourplex
Additional Details
Multifamily Units
4
Amenities
Level
Composition
French Doors, Insulated Door(s)
Public Sewer
Additional parcels description:, Parcel Number: 102094, Assessed Value: $604,500
Bamboo, Carpet, Laminate, Linoleum, Wood
Central Air, Electric
Baseboard, Central, Electric, Forced Air
In Unit
Listing ID: CAR4434521, Standard Status: Active, MLS Status: Active, Property Subtype: Fourplex, 2 days on market, Special Conditions: None
1 carport space, 6 open parking spaces, 7 total parking spaces, Other Parking: Paved/Gravel parking area to the left of the house. Unassigned spaces., Detached Carport, Driveway, Parking Space(s)
Elementary School: Clear Creek, Middle School: Hendersonville, High School: Hendersonville
Unfinished
5 total bedrooms
Built in 1930, Living area: 3010, Construction Materials: Brick Partial, Vinyl
County/Parish: Henderson
Elevation: 2000
5 full bathrooms, 1 half bathroom
Cable Connected, Electricity Connected, Water Source: City
Basement, Slab
Electricity, Exterior Maintenance, Water
Allowed: Yes
Electricity, Exterior Maintenance, Gas, Water
Road Responsibility: Publicly Maintained Road, Road Surface: Asphalt, Paved
Patio/Porch Features: Covered, Side Porch
Electric Range, Refrigerator
Building Details
Building Size
1,930 SF
Year Built
1930
Buildings
2
Listing Agency:
Howard Hanna Beverly-Hanks Freestone Properties
(828) 419-0444
Listed By:
Bob Sadlemire · License #295811
(825) 357-7307
Source:
Blackstreaminternational
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 2:43PM
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 Howard Hanna Beverly-Hanks Freestone Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1930, this 3,010-square-foot property contains four residences across two buildings. The main house has three units, while a separate structure at the rear holds a one-bedroom unit. Leases are in place, and the property has an established rental history.
The property is near downtown Hendersonville, with restaurants, grocery stores, and shopping among the nearby amenities. Fletcher and Asheville Regional Airport are a short drive away.
The property is near downtown Hendersonville, with restaurants, grocery stores, and shopping among the nearby amenities. Fletcher and Asheville Regional Airport are a short drive away.
Key Highlights
- Four residences across two buildings
- 3,010 square feet; built in 1930
- Three units in the main house and a separate one‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,041
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,820
$540.8K
Cap Rate 7%
$386,300
$386.3K
Cap Rate 9%
$300,456
$300.5K
Market Conditions
NOI Build-Up for 3,010 SF
Gross rent
$45.2K $15.00/SF
− Vacancy
−$6.5K −$2.17/SF
EGI
$38.6K $12.83/SF
− OpEx
−$11.6K −$3.85/SF
NOI
$27.0K $8.98/SF
Area
Henderson County, NC
Vacancy
14.44%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,820
Cap Rate 7%
$386,300
Cap Rate 9%
$300,456
Alternative Uses
Best Use
Multifamily LT 5
$386.3K
$338.0K – $450.7K
NOI $27,041 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$341.7K
$299.0K – $398.7K
NOI $23,922 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$1.00M
$877.7K – $1.17M
NOI $70,217 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 28791, NC
14,899
Population
7,268
Households
2
Avg Household Size
52
Median Age
45%
College-Educated
94%
High-School Grad
16.7 sq mi
ZIP Area
892
Density / Sq Mi
$78,179
Median Household Income
$40,049
Median Earnings
$1,182
Median Rent
$352,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - The four residences are distributed between a primary house and a separate rear building.
Where is this quadplex located?
The property is located at 228 Stoney Mountain Road #25 26 Hendersonville, NC.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Four residences across two buildings; 3,010 square feet; built in 1930; Three units in the main house and a separate one‑bedroom unit
