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Buncombe
1197 Newfound Road
Photo of 1197 Newfound Road
Sold on Aug 18, 2026

1

Map

$540,000
● House - Off Market

1197 Newfound Road

Leicester, NC 28748
bedrooms
2 Beds
bathrooms
1 Bath
square feet
1,300 Ft²
$2,652
Est. Monthly

About This Property

House situated on 24+ acres with a detached garage and shed. Property is being sold as part of an estate sale. Electricity is not currently connected to the property. Heating and cooling systems/sources are to be confirmed and verified by the buyer. Buyer is encouraged to conduct all necessary inspections and due diligence regarding utilities, systems, and property condition.
Unit Size
1,300 Ft²
Days on Market
-
Land Size
24.45 acres
Price per sqft
$415
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1948

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 months ago (CANOPYMLS #CAR4417407)

Price History

Date / Event Date Event Price
Aug 18, 2026 Sold
Premium
Sold
Apr 1, 2026 Listed by Keller Williams Professionals $540,000
Listed by Keller Williams Professionals

Property Highlights

Fireplace
Garage

Building Info

Overview

    General

  • Year Built: 1948
  • Effective Year Built: 1948
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 2
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 15
  • Exterior Walls Type: 17
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 3
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 349
  • Garage Type: 7
  • Garage Square Area: 720
  • Parking Space Count: 3
  • Patio Type: 20
  • Porch Type: 8
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 1,081,595
  • Total Building Area: 1,744
  • Gross Building Area: 1,912
  • Building Area: 1,395
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 6
  • Heating: 3
  • Heated Square Feet: 1,395
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 5
  • Water Service: 6

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000024830
  • Standard Land Use Code: 1001
  • County Land Use Code: 101
  • Legal Description 1: SUBDIV: BLOCK: LOT: SECTION: PLAT: 0000-0000

Neighborhood

  • School District Name: Buncombe County Schools
  • School Tax School District: FLE
  • Census Tract: 002603

Zoning

  • Zoning: OU

Geography

  • Assessors Map Reference: 8689-84
  • Account Number: 721394-2020-202
  • District: 17
  • Parcel: 8689-84-0907-00000
  • Municipality: LEICESTER
  • Latitude: 35.6019
  • Longitude: -82.7399

    Address

  • Full Address: 1197 Newfound Rd
  • Address - House Number: 1197
  • Address - Street Name: Newfound
  • Address - Suffix Type: Rd
  • State: NC
  • City Name: Leicester
  • Carrier Code: R004
  • 4-Digit Zip Code: 7609
  • Zip Code: 28748

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $49,699

    Appraisal Valuation

  • Standard Deviation: 0.1776
  • Valuation Date: Oct 04, 2023
  • Confidence Score: 77
  • Final Value: 632,223
  • High Value: 744,513
  • Low Value: 519,934

    Market Valuation

  • Market Total Value: $396,600
  • Market Land Value: $292,200
  • Market Improvement Value: $104,400

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $396,600
  • Assessed Land Value: $292,200
  • Assessed Improvements Value: $104,400

    Exemptions

  • Senior Citizen Exemption : Yes
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Buncombe

Stats & Trends

Median Asking:

$499,990

Sale Price/ft²

$295

Below Asking

0.03%

Average Days on Market

74

Average Home Size

2326 ft²

Average Home Age

17.8 years

Currently For Sale

1828 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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CANOPYMLS

Listed by: Matt Tavener, Keller Williams Professionals
Last Updated: 3 months ago
Data Source: CANOPYMLS, MLS# CAR4417407
Details provided by CANOPYMLS as Distributed by MLS Grid and may not match the public record.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Frequently Asked Questions

When was property at 1197 Newfound Road built and last sold?
The property at 1197 Newfound Road was built in 1948 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 1197 Newfound Road is $539,148.
What are some comparable homes to 1197 Newfound Road?
There are currently no comparable homes to 1197 Newfound Road.
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