Three-Home Manufactured Housing
For Sale
$450,000
67 Indian Trail Rd, Candler, NC 28715
Three separate manufactured residences are situated together on one parcel in Candler.
Property Size3,032 SF
Price / SF$148.42
Days on Market209
Property Features for 67 Indian Trail Rd
General Information
Standard status
Active
Size
3,032 SF
Property subtype
Residential Income
Additional Details
Gross Income
$47,400
Multifamily Units
3
Building Details
Buildings
3
Listing Agency:
Southern Sky Realty
(828) 713-7371
Listed By:
Scott Carver · License #319589
(828) 713-7371
Source:
Exprealty
Added: Jan 18
Changed: Aug 15
Last Checked: Aug 15 at 3:23AM
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 Southern Sky Realty
Investment Insights
Based on property information with market context.
This multifamily property includes three manufactured homes on a single parcel, creating a consolidated residential income asset with 3,032 square feet of property size. The homes comprise one double-wide and two single-wide residences, providing three separate living units at one location. One of the single-wide homes has a recently installed roof.
The property is located at 67 Indian Trail Rd in Candler, North Carolina, with the individual residences identified at 1 Spring Street, 67 Indian Trail, and 65 Indian Trail. County regulations prevent subdivision of the lot unless city sewer becomes available, an important consideration for future site planning and ownership structure.
The property is located at 67 Indian Trail Rd in Candler, North Carolina, with the individual residences identified at 1 Spring Street, 67 Indian Trail, and 65 Indian Trail. County regulations prevent subdivision of the lot unless city sewer becomes available, an important consideration for future site planning and ownership structure.
Key Highlights
- Three manufactured homes located on one parcel
- 3,032 square feet of property size
- Unit mix includes one double‑wide and two single‑wide homes
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
$29,558
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
6.57%
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%
$591,160
$591.2K
Cap Rate 7%
$422,257
$422.3K
Cap Rate 9%
$328,422
$328.4K
Market Conditions
NOI Build-Up for 3,032 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
$61.5K $20.28/SF
− Vacancy
−$7.7K −$2.56/SF
EGI
$53.7K $17.72/SF
− OpEx
−$24.2K −$7.98/SF
NOI
$29.6K $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%
$591,160
Cap Rate 7%
$422,257
Cap Rate 9%
$328,422
Alternative Uses
Best Use
Apartment 5plus
$422.3K
$369.5K – $492.6K
NOI $29,558 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$958.8K
$838.9K – $1.12M
NOI $67,113 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 28715, NC
27,810
Population
12,519
Households
2.2
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
78.1 sq mi
ZIP Area
356
Density / Sq Mi
$70,950
Median Household Income
$38,620
Median Earnings
$1,208
Median Rent
$291,900
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 - Three separate manufactured residences are situated together on one parcel in Candler.
Where is this multifamily property located?
The property is located at 67 Indian Trail Rd Candler, NC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three manufactured homes located on one parcel; 3,032 square feet of property size; Unit mix includes one double‑wide and two single‑wide homes
