9140 Black Heath Cir · Charlotte, NC 28214

$125,000

3 bd · 2.5 ba · 1,300 sqft · Townhouse · 31 Days on market

Built 1973 Fair condition Est $134k · 7% under $245/mo HOA · 12% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +10.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Prime, occupied, investment end unit, ready to generate immediate income! This efficient 3 bedroom 2.5 half bath condo features convenient layout, highway access and retail shopping/entertainment all within minutes! Add this seamless addition to your real estate portfolio!

Key facts

• Retail shopping
• Entertainment
• Highway access

Tags

• INVESTMENT END UNIT
• HIGHWAY ACCESS
• RETAIL SHOPPING
• ENTERTAINMENT

Property features AI

Finance

• HOA & community: Has HOA managed by Cedar Management; HOA dues are mandatory; HOA fee $245.94 monthly

Exterior

• Parking: Assigned parking spaces in a parking lot
• Utilities: City water; Public sewer; Cable available and connected; Wired internet available
• Home design: Residential condominium; Site-built construction; Two levels; Entry level is 1; Zoning: R
• Construction: Vinyl exterior; Slab foundation
• Exterior features: End unit; Sidewalks; Private maintained road

Interior

• Kitchen: Includes appliances listed as Other
• Bedrooms: 3 bedrooms (all on the upper level)
• Flooring: Carpet
• Bathrooms: 2 full bathrooms (upper level); 1 half bathroom (main level)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: 8 total rooms; Network ready; Carpet flooring; Entry level is 1
• Laundry & utility: Laundry located in hall

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.1% in Charlotte — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#26 in NC, #2,502 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools D+, crime F.
• Charlotte-Mecklenburg Schools (urban): math 42% / reading 46% proficiency, ranked #85 of 178 in NC (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 363 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Mecklenburg County population projected at +53% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.60% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.17%
• DSCR: 1.72
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $133,900
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9101 Troon Ln	0.10mi	3/2.5	1,302 (+0%)	6mo	$133,500	$103	90
9101 Troon Ln Unit B	0.10mi	3/2.5	1,308 (+1%)	9mo	$143,000	$109	87
9140 Black Heath Cir Unit C	0.00mi	3/2.5	1,342 (+3%)	22mo	$165,000	$123	76
9153 Spyglass Pl Unit B	0.29mi	3/2.5	1,302 (+0%)	15mo	$132,500	$102	74
9101 Spyglass Pl Unit A	0.26mi	2/2.5 (-1)	1,177 (-10%)	15mo	$77,000	$65	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.35% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.30×
• Total profit: $10,670
• Equity at exit: $18,638

10-year hold

• IRR: 17.5%
• Equity multiple: 2.47×
• Total profit: $51,624
• Equity at exit: $10,808

Cash invested: $35,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28214

• Home prices YoY: -26.7%
• Rents YoY: 3.4%
• Active inventory: 363
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,001 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$245
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $472

Break-even live

Break-even rent $1,404

Max offer price $125,000

Occupancy floor 71%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8503 Paw Valley Ln Charlotte, NC	3.0	2.5	1780	$2,225	$1.25	1d	1	0.12mi
9123 Spyglass Pl Unit C Charlotte, NC	2.0	2.0	936	$1,300	$1.39	7d	1	0.16mi
9127 Spyglass Pl Charlotte, NC	2.0	2.0	950	$1,450	$1.53	23d	1	0.18mi
4600 Montelena Dr Charlotte, NC	3.0	2.5	1520	$1,849	$1.22	21d	1	0.33mi
4717 Opus Ln Charlotte, NC	3.0	2.5	1441	$1,849	$1.28	2d	1	0.39mi
3911 Rosfield Dr Unit 1 Charlotte, NC	3.0	2.5	1556	$1,985	$1.28	3d	1	0.56mi
2711 Kendrick Dr Charlotte, NC	4.0	2.0	1390	$1,845	$1.33	13d	1	0.56mi
5923 Running Deer Rd Charlotte, NC	3.0	2.0	1087	$1,649	$1.52	16d	1	0.61mi
8119 Kerrybrook Cir Unit 1 Charlotte, NC	3.0	2.0	1600	$1,600	$1.00	7d	1	0.65mi
2038 Talbert Ct Charlotte, NC	4.0	2.5	1811	$2,100	$1.16	23d	1	0.68mi
7229 Kavan Hunter Dr Charlotte, NC	3.0	2.0	1202	$1,870	$1.56	4d	1	0.68mi
2031 Talbert Ct Charlotte, NC	3.0	2.5	1565	$2,070	$1.32	7d	1	0.70mi
9013 Sharpes Cir Charlotte, NC	3.0	2.5	1507	$1,755	$1.16	23d	1	0.78mi
1922 Dove Dr Charlotte, NC	4.0	2.5	1390	$2,043	$1.47	1d	1	0.85mi
3067 Starnes Rd Charlotte, NC	4.0	2.0	1763	$1,813	$1.03	4d	1	0.85mi
2012 Pheasant Glen Rd Charlotte, NC	3.0	2.0	1228	$1,895	$1.54	2d	1	0.91mi
9242 Eleanor Dr Charlotte, NC	3.0	2.0	1070	$1,800	$1.68	1d	1	1.07mi
4008 Fire Creek RD Charlotte, NC	1.0–3.0	1.0–2.0	968	$2,409	$2.49	3d	34	1.09mi
2822 Cartesian Dr Charlotte, NC	3.0	2.5	1565	$2,060	$1.32	21d	1	1.22mi
841 Carrington Dr Charlotte, NC	3.0	2.0	1300	$1,650	$1.27	23d	1	1.22mi
523 Leland St Charlotte, NC	4.0	3.0	1711	$2,000	$1.17	4d	1	1.24mi
1000 Claremont Rd Charlotte, NC	3.0	1.5	1275	$1,200	$0.94	13d	1	1.26mi
6537 Hoover Cir Charlotte, NC	3.0	3.0	1430	$2,095	$1.47	7d	1	1.26mi
9123 Creedmore Hills Dr Charlotte, NC	3.0	2.5	1800	$2,275	$1.26	14d	1	1.34mi
1126 Maria Christina Ln Charlotte, NC	3.0	2.0	1008	$1,900	$1.88	7d	1	1.37mi
9139 Creedmore Hills Dr Charlotte, NC	3.0	2.5	1800	$2,095	$1.16	16d	1	1.37mi
5044 Wolfridge Ave Charlotte, NC	4.0	2.5	1800	$2,325	$1.29	16d	1	1.39mi
2872 Oasis Ln Charlotte, NC	3.0	2.0	1206	$1,790	$1.48	14d	1	1.41mi
2856 Oasis Ln Charlotte, NC	3.0	2.0	1283	$1,799	$1.40	13d	1	1.41mi
6941 Calton Ln Charlotte, NC	4.0	2.5	1798	$2,155	$1.20	7d	1	1.44mi
6941 Calton Ln Charlotte, NC	4.0	2.5	1768	$2,195	$1.24	12d	1	1.44mi
4323 Crystal Erica Ln Charlotte, NC	3.0	2.0	1242	$1,990	$1.60	2d	1	1.46mi
6248 Lowe Ln Charlotte, NC	3.0	2.5	1434	$2,130	$1.49	4d	1	1.46mi
6316 Lowe Ln Charlotte, NC	3.0	2.5	1434	$2,160	$1.51	23d	1	1.46mi
6322 Lowe Ln Charlotte, NC	4.0	2.5	1800	$2,050	$1.14	2d	1	1.46mi
6322 Lowe Ln Charlotte, NC	4.0	2.5	1800	$2,050	$1.14	23d	1	1.46mi
5819 Woodrock Ct Charlotte, NC	3.0	2.0	1196	$2,200	$1.84	10d	1	1.47mi
6225 Lowe Ln Charlotte, NC	4.0	2.5	1800	$2,200	$1.22	7d	1	1.48mi

HOA detail

• Monthly dues: $245 · $2,940/yr

Listing history 16 events

1. 2026-06-18
   days on market $125,000 Active 31 DOM
2. 2026-06-17
   days on market $125,000 Active 30 DOM
3. 2026-06-16
   days on market $125,000 Active 29 DOM
4. 2026-06-15
   days on market $125,000 Active 28 DOM
5. 2026-06-13
   days on market $125,000 Active 26 DOM
6. 2026-06-09
   days on market $125,000 Active 22 DOM
7. 2026-06-08
   days on market $125,000 Active 21 DOM
8. 2026-06-07
   days on market $125,000 Active 20 DOM
9. 2026-06-04
   days on market $125,000 Active 17 DOM
10. 2026-06-03
    days on market $125,000 Active 16 DOM
11. 2026-06-02
    days on market $125,000 Active 15 DOM
12. 2026-06-02
    days on market $125,000 Active 14 DOM
13. 2026-05-31
    days on market $125,000 Active 13 DOM
14. 2026-05-18
    listed $125,000 Active
15. 2025-08-12
    historical $1,350
16. 2025-07-01
    listed $1,350

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,007
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − HOA: −$2,940
• − Depreciation: −$3,636
• Taxable income: $4,088
• Est. tax owed @ 24.0%: −$981
• After-tax cash flow: $4,678/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This multi-family unit requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include exterior siding, flooring, and interior walls.

Repairs flagged

• Major Exterior siding — Significant weathering and discoloration
• Moderate Flooring — Worn appearance
• Moderate Interior walls/paint — Discoloration and paint wear
• Minor Bathroom fixtures — Functional but dated

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace flooring — New flooring improves comfort and adds value
• Both Repair exterior siding — Fresh siding improves curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant weathering and discoloration	Major	$15,000–50,000
Flooring · Worn appearance	Moderate	$3,000–15,000
Interior walls/paint · Discoloration and paint wear	Moderate	$3,000–15,000
Bathroom fixtures · Functional but dated	Minor	$500–3,000
Total estimated repair cost · 4 items		$21,500–83,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace flooring — New flooring improves comfort and adds value ↑
• Both Repair exterior siding — Fresh siding improves curb appeal and structural integrity ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Charlotte-Mecklenburg Schools
• NCES district ID: 3702970
• Math proficiency: 42% ▼ -6.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $57,175
• Composite: 38.49/100
• National rank: #4183
• State rank: #85 of 178 in NC

Livability — Charlotte

• Score: 78/100
• State rank: #26
• US rank: #2502

Category grades

Amenities A+ Commute A+ Cost of living B Crime F Employment B- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlotte, NC
• County: Mecklenburg County · 1,167,319 people
• City population: 920,422
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 43,837
• Household income: $86,447
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 671.0

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 1,305,740 people
• By 2030: 1,442,752 · +10.5%
• By 2040: 1,722,441 · +31.9%
• By 2050: 1,999,450 · +53.1%
• By 2075: 2,642,495 · +102.4%
• By 2100: 3,106,755 · +137.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 40% White 30% Hispanic / Latino 18% Two or more races 9% Asian 6%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1% Dominican 1%
• Common ancestry: Serbian 1% Italian 1% Slovak 1%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 77% English-only · Spanish 15% Vietnamese 2% Other Asian/Pacific 2%

Political lean MEDSL · Mecklenburg

• 2024 margin: Solid D (+32.9) · D 65.6% · R 32.7% · Other 1.6%
• 2008→2024 swing: +8.5pp toward D · 2008: 24.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+35.1 2016: D+29.9 2012: D+22.5 2008: D+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.82%
• Current HPI: 277.2903
• Rent YoY: ▲ 3.35%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+9159.3% since first listed

3 events — show timeline

• 2026-05-18 Listed $125,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-12 Rental Removed $1,350 RENTALBEAST
• 2025-07-01 Listed for Rent $1,350 RENTALBEAST