Furnished Short-Term Rental
For Sale
$555,000
5 Fieldtop Ln, Arden, NC 28704
Arts-and-crafts residence with a separate garage-top studio and established short-term rental history.
Property Size1,788 SF
Price / SF$310.40
Days on Market35
Property Features for 5 Fieldtop Ln
General Information
Standard status
Active
Size
1,788 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
2
Building Details
Year Built
2009
Buildings
2
Construction
arts-and-crafts
Listing Agency:
Carolina Mountain Sales
(828) 407-0275
Listed By:
Courtney Bahnsen
Source:
Highperformancerea
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 25 at 4:50AM
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.
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 = 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
$17,430
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
3.14%
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%
$348,600
$348.6K
Cap Rate 7%
$249,000
$249.0K
Cap Rate 9%
$193,667
$193.7K
Market Conditions
NOI Build-Up for 1,788 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
$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 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%
$348,600
Cap Rate 7%
$249,000
Cap Rate 9%
$193,667
Alternative Uses
Best Use
Apartment 5plus
$249.0K
$217.9K – $290.5K
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
NOI $39,577 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
