4-Unit Multifamily
For Sale
$645,000
25-26-228 Stoney Mountain Rd, Hendersonville, NC 28791
Two buildings provide a three-unit main residence and a separate rear apartment, with leases in place.
Property Size3,010 SF
Price / SF$214.29
Days on Market18
Property Features for 25-26-228 Stoney Mountain Rd
General Information
Standard status
Active
Size
3,010 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Tenant in Place
Yes
Building Details
Buildings
2
Listing Agency:
Howard Hanna Beverly-Hanks Freestone Properties
(828) 419-0444
Listed By:
Bob Sadlemire · License #295811
(603) 715-0422
Source:
Exprealty
Added: Oct 16
Changed: Nov 1
Last Checked: Nov 1 at 4:07PM
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.
This 3,010-square-foot multifamily property comprises two buildings. The main house contains three units, while a separate rear building has a one-bedroom unit. Leases are in place, and the property has a rental history.
The property is in Hendersonville near downtown, with access to restaurants, grocery stores, and retail. Fletcher and Asheville Regional Airport are a short drive away.
The property is in Hendersonville near downtown, with access to restaurants, grocery stores, and retail. Fletcher and Asheville Regional Airport are a short drive away.
Key Highlights
- 3,010 square feet across two buildings
- Main house includes three units
- Separate rear building contains a one‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,922
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,440
$478.4K
Cap Rate 7%
$341,743
$341.7K
Cap Rate 9%
$265,800
$265.8K
Market Conditions
NOI Build-Up for 3,010 SF
Gross rent
$51.3K $17.04/SF
− Vacancy
−$7.8K −$2.59/SF
EGI
$43.5K $14.45/SF
− OpEx
−$19.6K −$6.50/SF
NOI
$23.9K $7.95/SF
Area
Henderson County, NC
Vacancy
15.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,440
Cap Rate 7%
$341,743
Cap Rate 9%
$265,800
Alternative Uses
Best Use
Apartment 5plus
$341.7K
$299.0K – $398.7K
NOI $23,922 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
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
170
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?
Multifamily property - Two buildings provide a three-unit main residence and a separate rear apartment, with leases in place.
Where is this multifamily property located?
The property is located at 25-26-228 Stoney Mountain Rd 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: 3,010 square feet across two buildings; Main house includes three units; Separate rear building contains a one‑bedroom unit
