Four-Unit New Construction Townhome
New
For Sale
$1,430,000
5 # 3 4 5 6, Asheville, NC 28806
Newly built townhomes feature contemporary finishes and attached garages.
Property Size6,468 SF
Price / SF$221.09
Days on Market2
Property Features for 5 # 3 4 5 6
General Information
Standard status
Active
Size
6,468 SF
Property subtype
Multi-Family
Amenities
4
No
12
Upper Level
6468
City
Lily & Dogwood
Driveway,Attached Garage
Concrete,Paved
Slab
Private Maintained Road
Yes
Building Details
Building Size
6,468 SF
Year Built
2025
Stories
2
Listing Agency:
McGovern Property Management, Inc.
(864) 242-6650
Listed By:
Preston Stelly
(864) 346-5233
Source:
Cdanjoyner
Added: Sep 18
Last Checked: Sep 19 at 6:47AM
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 McGovern Property Management, Inc.
Investment Insights
Based on property information with market context.
This offering comprises four newly constructed townhomes delivered together as a single package, with a combined 6,468 square feet. Each residence includes three bedrooms, two full bathrooms, and one half bath. Interior specifications include luxury vinyl plank flooring, contemporary lighting, chrome plumbing fixtures, stainless steel appliances, quartz countertops, and cabinetry. Attached garages, paved driveways, slab foundations, and city utilities support practical ownership and occupancy. The homes were built in 2025.
The residences are part of a 26-townhome community in West Asheville, positioned among rolling pastures approximately 4.3 miles from downtown Asheville. Association services include building insurance, exterior maintenance, landscaping, snow removal, and pest control. Lots 3, 4, 5, and 6 are included in the package, with unit-specific upgrades already completed.
The residences are part of a 26-townhome community in West Asheville, positioned among rolling pastures approximately 4.3 miles from downtown Asheville. Association services include building insurance, exterior maintenance, landscaping, snow removal, and pest control. Lots 3, 4, 5, and 6 are included in the package, with unit-specific upgrades already completed.
Key Highlights
- Four newly constructed townhomes offered together
- Combined building area of 6,468 square feet
- Each unit has 3 bedrooms, 2 full bathrooms, and 1 half bath
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
$63,054
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
4.41%
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%
$1,261,080
$1.3M
Cap Rate 7%
$900,771
$900.8K
Cap Rate 9%
$700,600
$700.6K
Market Conditions
NOI Build-Up for 6,468 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
$131.2K $20.28/SF
− Vacancy
−$16.5K −$2.56/SF
EGI
$114.6K $17.72/SF
− OpEx
−$51.6K −$7.98/SF
NOI
$63.1K $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%
$1,261,080
Cap Rate 7%
$900,771
Cap Rate 9%
$700,600
Alternative Uses
Best Use
Apartment 5plus
$900.8K
$788.2K – $1.05M
NOI $63,054 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,169 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 28806, NC
44,621
Population
21,185
Households
2.1
Avg Household Size
37
Median Age
45%
College-Educated
91%
High-School Grad
38.1 sq mi
ZIP Area
1,171
Density / Sq Mi
$59,925
Median Household Income
$37,743
Median Earnings
$1,224
Median Rent
$335,800
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?
Multifamily property - Newly built townhomes feature contemporary finishes and attached garages.
Where is this multifamily property located?
The property is located at 5 # 3 4 5 6 Asheville, NC.
What is the asking price?
The asking price for this property is $1,430,000.
What are key features of this property?
This property features: Four newly constructed townhomes offered together; Combined building area of 6,468 square feet; Each unit has 3 bedrooms, 2 full bathrooms, and 1 half bath
