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Building Details

Year Built 2009

Buildings 2

Construction arts-and-crafts

Listing Agency: Carolina Mountain Sales

Listed By: Courtney Bahnsen Show Phone

Source: Highperformancerea

Added: Jul 26 Changed: Oct 8 Last Checked: Oct 7 at 4:28PM

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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 Carolina Mountain Sales

Investment Insights

Based on property information with market context.

Built in 2009, this furnished arts-and-crafts style property combines a primary residence with a separate studio apartment positioned above a detached garage. The 1,788-square-foot configuration provides distinct living areas within one property, supporting residential use alongside short-term rental operations, guest accommodations, or multigenerational living.

The property is located near Asheville dining, shopping, outdoor recreation, and airport access. Furnishings are included, allowing the property to be occupied or operated without an additional setup phase. Its documented short-term rental history provides an established operating record for an owner considering continued vacation-rental use.

Key Highlights

• 1,788‑square‑foot property built in 2009
• Separate studio apartment above a detached garage
• Furnished and ready for occupancy or rental use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,430

Cap Rate

3.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$348,600 $348.6K

Cap Rate 7%

$249,000 $249.0K

Cap Rate 9%

$193,667 $193.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,788 SF

Gross rent

$36.3K $20.28/SF

− Vacancy

−$4.6K −$2.56/SF

EGI

$31.7K $17.72/SF

− OpEx

−$14.3K −$7.98/SF

NOI

$17.4K $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 Rate 5%

$348,600

Cap Rate 7%

$249,000

Cap Rate 9%

$193,667

Alternative Uses

Best Use

Apartment 5plus

$249.0K

$217.9K – $290.5K (±1% cap)

NOI $17,430 @ 7.0% cap · market cap 3.14%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$565.4K

$494.7K – $659.6K (±1% cap)

NOI $39,577 @ 7.0% cap · market cap 7.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Short term rental ...

Suggested Use

Top Pick Dental Office Law Firm Real Estate Agency Hair Salon HVAC Service Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

124

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Short term rental property - Arts-and-crafts residence with a separate garage-top studio and established short-term rental history.

Where is this short term rental property located?

The property is located at 5 Fieldtop Ln Arden, NC.

What is the asking price?

The asking price for this property is $555,000.

What are key features of this property?

This property features: 1,788‑square‑foot property built in 2009; Separate studio apartment above a detached garage; Furnished and ready for occupancy or rental use