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    Three Homes on Two Lots Title is generated by Realmo AI

    39 & 27 Woodcove Dr, Franklin, NC 28734

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    For Sale
    $550,000

    MULTI_FAMILY - Ranch - Franklin, NC

    Type:Single Family Residence
    Lot size:
    1.34 Acres
    Added:
    Feb 24, 2026
    Days on Market:
    82
    Last Refresh:
    May 17 at 3:06 pm

    Property Features for 39 & 27 Woodcove Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Bedrooms
    2
    Bathrooms
    3
    Rooms
    Bathroom 3, Bathroom 2, Bedroom 2, Dining Room, Bedroom 1, Bathroom 1
    Parking features
    Carport, Driveway, Garage
    Vegetation
    Partially Wooded
    Window features
    Insulated Windows
    Interior features
    Breakfast Bar, Ceiling Fan(s), Country Kitchen, Kitchen/Dining Room, Large Master Bedroom, Living/Dining Room, Main Level Living, Primary w/Ensuite, Primary on Main Level, Open Floorplan, Pantry, Walk-In Closet(s)
    Fireplace
    1
    Basement
    Finished, Daylight, Partial, Exterior Entry
    Appliances
    Electric Water Heater, Dishwasher, Exhaust Fan, Microwave, Electric Oven/Range, Refrigerator, Washer, Dryer
    Standard status
    Active
    APN
    6568598446
    Lot size
    1.34 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2135

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Propane (Heating), Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Well

    Building Details

    Year built
    1998
    Flooring type
    Vinyl, Carpet
    Building materials
    HardiPlank Type
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Lyndell Suttles
    Lyndell Suttles

    Listing agent Lyndell Suttles License #333287

    Listing office Bald Head Realty 33 Pine Lane, Franklin, NC

    Listing date Feb 24, 2026

    MLS# 26042522 Listing URL

    Copyright © 2026 Carolina Smokies Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Three homes on two lots: main residence plus two income‑producing rental cabins.
    • Turnkey vacation rentals: two fully furnished 2‑bed/2‑bath cabins with established rental history.
    • New roofs on all three homes.
    • Main residence features a 2‑car garage, double carport, bonus room with full bath, and open‑concept living.
    • Scenic mountain views and proximity to the Little Tennessee River.
    • Recent home inspection completed with repairs already made.

    Overview

    This property features three homes situated on two lots, offering potential as a 1031 Exchange Rental Property or Family Homestead. Each home has a new roof. The main residence, previously owner-occupied, is accompanied by two additional homes that have operated as vacation rentals. The main home, constructed in 1998, includes a 2-car garage, a double carport, and a bonus room with a full bath on the lower level. The upstairs features an open-concept living area with 2 bedrooms and 2 baths. The two smaller cabins, built in 1999, are turnkey and fully furnished with 2 beds and 2 baths, designed to generate retirement income. All three homes are raised-ranch style with covered porches. The property spans 1.34 acres. The location offers mountain views and proximity to the Little Tennessee River across 28N. A recent home inspection has been completed, and several repairs have already been made.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Macon
    State
    North Carolina
    Longitude
    -83.4724694
    Latitude
    35.2868363

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    FAQs

    What type of property is this?
    Short term rental property - Three homes with rental potential in Franklin, North Carolina.
    Where is this short term rental property located?
    The property is located at 39 & 27 Woodcove Dr Franklin, NC.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Three homes on two lots: main residence plus two income‑producing rental cabins.; Turnkey vacation rentals: two fully furnished 2‑bed/2‑bath cabins with established rental history.; New roofs on all three homes.
    (828) 332-7751
    We can help!
    Listing Contact
    Lyndell Suttles
    Lyndell Suttles
    Real Estate License ID: 333287
    Learn More
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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.

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