255 & 257 Crescent Street
About This Property
Now offered at an improved price, this property presents exceptional value for buyers seeking acreage, flexibility, and the opportunity to create something truly special in one of Western North Carolina's most charming mountain towns.
The brown home offers approximately 3 bedrooms and 3 bathrooms with distinctive wood architectural details, a loft area, and a spacious floor plan full of character and ready for renovation or updates to suit your vision. The red home is a 2-bedroom, 2-bath residence featuring hardwood floors and an open-concept layout, providing a solid foundation for continued enjoyment or future improvements.
The property offers a unique blend of usable acreage, multiple dwellings, and a highly desirable location. The pond creates a peaceful focal point, though restoration work may be needed to maximize its potential. While the homes and grounds would benefit from repairs and updates, the possibilities are plentiful for those seeking a property with character, space, and significant upside potential.
Whether you're looking for a private retreat, hobby farm, investment opportunity, family compound, or a property to renovate and make your own, this offering provides a rare combination of acreage, versatility, and location. Conveniently located near local shops, restaurants, outdoor recreation, and area attractions, this is an exceptional opportunity to reimagine and restore a unique Saluda property.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 2, 2026 | Price Decreased |
$650,000
↓ $25K
(3.7%) | |
| Price Decreased | |||
| Jun 4, 2026 | Price Decreased |
$675,000
↓ $25K
(3.6%) | |
| Price Decreased | |||
| May 22, 2026 | Listed by Coldwell Banker Advantage | $700,000 | |
| Listed by Coldwell Banker Advantage | |||
| Jan 27, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| Oct 10, 2025 | Price Decreased |
$720,000
↓ $80K
(10%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017