2020 Stoney Point Ln #59 · Charlotte, NC 28210

$131,000

2 bd · 2.0 ba · 946 sqft · Condo public records · 43 Days on market

Built 1972 $303/mo HOA · 23% of rent

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Why this score? — see what drove the D- 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 +11.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2020 Stoney Point Ln, a property that boasts a myriad of desirable features. The home is nestled in a quiet, peaceful neighborhood, providing a tranquil living environment. The property is surrounded by a beautifully landscaped garden, providing a serene outdoor space for relaxation. The interior is adorned with hardwood floors, adding a touch of elegance and warmth to the home. The kitchen features an efficient cooking experience. The home is conveniently located near local amenities, making daily errands a breeze. Don't miss out on this gem. Included 100-Day Home Warranty with buyer activation

Key facts

• Serene outdoor space
• Landscaped garden
• $303 HOA

Tags

• LANDSCAPED GARDEN
• SERENE OUTDOOR SPACE
• EFFICIENT COOKING EXPERIENCE

Property features AI

Finance

• HOA & community: HOA managed by Greenway Realty Management; Mandatory HOA dues of $303 per month

Exterior

• Parking: Driveway and open parking spaces (no garage or carport)
• Utilities: Public water; Public sewer
• Home design: Residential condominium; One story; Site-built construction
• Construction: Vinyl exterior; Composition roof; Slab foundation
• Exterior features: Driveway parking; 1 open parking space; Publicly maintained asphalt road

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: 8 total rooms; Entry level is 1
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $131k.

Deal economics

• At list price, monthly cash flow is $-53 ($-635/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (7.1% below list).
• Meets the 1% rule at list price ($1k rent vs $131k).
• Recommended offer: $122k (7.1% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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: 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.
• Zoned schools: Sterling Elementary (math 11% / reading 13%, grade F, #1,373 of 1,410 statewide, top 98%, 695 students, 100% FRL); Quail Hollow Middle (math 24% / reading 30%, grade F, #374 of 475 statewide, top 80%, 1,144 students, 49% FRL); South Mecklenburg High School (math 71% / reading 66%, grade B, #134 of 535 statewide, top 25%, 3,344 students, 36% FRL).
• Market conditions: Rents soft (-1.0%/yr); 242 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).
• This rent is only 16% of the median local income ($101k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $906 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $121,649 (7.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.23×
• Total profit: $-28,345
• Equity at exit: $19,533

10-year hold

• IRR: -32.5%
• Equity multiple: -0.19×
• Total profit: $-43,474
• Equity at exit: $11,326

Cash invested: $36,680 (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 28210

• Rents YoY: -1.0%
• Active inventory: 242
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,326 high
• Mortgage (P&I): −$687
• Tax from tax record: −$56 /mo · $672/yr
• Insurance: −$55
• HOA: −$303
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-53

Break-even live

Break-even rent $1,393

Max offer price $121,649

Occupancy floor 99%

Sensitivity live

Price	-10% $21	-5% $-16	+0% $-53	+5% $-90	+10% $-127
Rent	-10% $-158	-5% $-105	+0% $-53	+5% $-1	+10% $52
Rate	-1.0pp $13	-0.5pp $-20	base $-53	+0.5pp $-87	+1.0pp $-121

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: $32,750
• Closing costs: $3,930
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2015 Countrymens Ct #53 Charlotte, NC	1.0	1.0	758	$1,100	$1.45	25d	1	0.05mi
2010 Countrymens Ct #65 Charlotte, NC	1.0	1.0	738	$950	$1.29	25d	1	0.08mi
1909 Meadowlark Ln #40 Charlotte, NC	1.0	1.0	758	$950	$1.25	18d	1	0.10mi
2021 Harvest Ln Charlotte, NC	1.0	1.0	758	$1,200	$1.58	25d	1	0.16mi
7903 Oak Meadow Ct #2 Charlotte, NC	2.0	1.5	1048	$1,600	$1.53	19d	1	0.16mi
7961 Unit 63 Shady Oak Trl Charlotte, NC	2.0	2.0	1048	$1,175	$1.12	25d	1	0.19mi
1909 Harvest Ln Charlotte, NC	2.0	2.0	1000	$1,495	$1.50	0d	1	0.19mi
7961 Shady Oak Trl Unit 65 Charlotte, NC	2.0	1.5	1050	$1,175	$1.12	25d	1	0.20mi
1911 Smoke Ridge Ct #5 Charlotte, NC	2.0	1.5	1000	$1,550	$1.55	25d	1	0.21mi
7808 Andover Woods Dr Charlotte, NC	1.0–2.0	1.0–2.0	916	$1,495	$1.63	0d	32	0.23mi
2123 El Verano Cir Charlotte, NC	1.0–2.0	1.0	787	$1,520	$1.93	6d	10	0.24mi
1937 Sharon Rd W Charlotte, NC	1.0–2.0	1.0–2.0	800	$1,199	$1.50	25d	1	0.29mi
7561 Quail Meadow Ln Charlotte, NC	2.0	2.0–2.5	1109	$1,542	$1.39	0d	8	0.37mi
8000 Waterford Lakes Dr Charlotte, NC	1.0–3.0	1.0–2.0	915	$1,385	$1.51	0d	94	0.41mi
7600 Antlers Ln Charlotte, NC	3.0	1.0–2.0	854	$1,387	$1.62	0d	39	0.45mi
8625 Winter Oaks Ln Charlotte, NC	1.0–3.0	1.0–2.0	977	$1,486	$1.52	0d	84	0.50mi
8200 Riverbirch Dr Charlotte, NC	1.0–3.0	1.0–2.0	1048	$1,310	$1.25	0d	27	0.52mi
1357 Sharon Rd W Charlotte, NC	2.0–3.0	1.5–2.0	1117	$1,535	$1.37	3d	6	0.60mi
1600 Village Brook Dr Charlotte, NC	1.0–2.0	1.0–2.0	709	$1,247	$1.76	0d	11	0.65mi
12509 Crown Park Ct Charlotte, NC	1.0–3.0	1.0–2.0	1050	$1,658	$1.58	0d	26	0.78mi
1226 Bexton St Charlotte, NC	3.0	1.0–2.0	1001	$1,796	$1.79	0d	19	0.79mi
9056 Arborgate Dr Charlotte, NC	1.0–2.0	1.0–2.0	786	$1,499	$1.91	5d	1	1.22mi
9215 Kings Canyon Dr Charlotte, NC	2.0	2.0	998	$2,690	$2.70	25d	1	1.30mi
6720 Woodstream Dr Charlotte, NC	2.0	1.0	900	$1,300	$1.44	25d	1	1.31mi
8030 Sycamore Creek Dr Charlotte, NC	2.0	2.0	917	$1,575	$1.72	25d	1	1.31mi
9252 Kings Canyon Dr Charlotte, NC	2.0	2.0	987	$1,700	$1.72	16d	1	1.32mi
9252 Kings Canyon Dr Charlotte, NC	2.0	2.0	987	$1,700	$1.72	25d	1	1.32mi
8508 Lodge South Cir Charlotte, NC	3.0	1.0–2.0	897	$1,494	$1.66	0d	17	1.43mi
9616 China Grove Church Rd Pineville, NC	2.0	1.0	888	$1,695	$1.91	9d	1	1.47mi
1015 Deep Rock Cir Charlotte, NC	1.0	1.0	775	$1,163	$1.50	25d	1	1.48mi
8825 Mont Carmel Ln Charlotte, NC	1.0–2.0	1.0–2.0	916	$1,450	$1.58	25d	2	1.49mi

HOA detail condo

• Monthly dues: $303 · $3,636/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-04
   pricedays on market $131,000 Active 43 DOM
2. 2026-06-03
   days on market $135,000 Active 42 DOM
3. 2026-06-02
   days on market $135,000 Active 41 DOM
4. 2026-06-02
   days on market $135,000 Active 40 DOM
5. 2026-05-31
   days on market $135,000 Active 39 DOM
6. 2026-04-30
   price $135,000
7. 2026-04-22
   listed $139,000 Active
8. 2026-04-10
   soldstatus $105,000
9. 2024-04-21
   historical $1,149
10. 2024-02-15
    price $1,149
11. 2024-01-25
    price $1,199
12. 2024-01-09
    price $1,200
13. 2023-12-02
    price $1,250
14. 2023-11-18
    listed $1,300

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

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $672 · $56/mo
• Projected year-2 tax: $1,074 · $90/mo
• Expected delta: +$403/yr (+$34/mo · 59.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,913
• − Mortgage interest: −$7,338
• − Property taxes: −$672
• − Insurance: −$655
• − Repairs & maintenance: −$1,273
• − Management: −$1,273
• − HOA: −$3,636
• − Depreciation: −$3,811
• Taxable loss: −$2,745
• Est. tax savings @ 24.0%: +$659
• After-tax cash flow: $24/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.

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): 47,359
• Household income: $100,824
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2363.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 20% Two or more races 13% Black 12% Asian 3%
• Hispanic origin (detail): Mexican 5% Dominican 1%
• Common ancestry: Serbian 4% Slovak 3% Romanian 2%
• Foreign-born: 19% · Canada, Jamaica, Guatemala
• Languages at home: 77% English-only · Spanish 17% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -521.35%
• Current HPI: 316.6779
• Rent YoY: ▼ -1.00%
• 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

+10284.6% since first listed

9 events — show timeline

• 2026-04-30 Price Changed $135,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-22 Listed $139,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-10 Sold (Public Records) $105,000 Public Records
• 2024-04-21 Rental Removed $1,149 RENT.
• 2024-02-15 Price Changed $1,149 RENT.
• 2024-01-25 Price Changed $1,199 RENT.
• 2024-01-09 Price Changed $1,200 RENT.
• 2023-12-02 Price Changed $1,250 RENT.
• 2023-11-18 Listed for Rent $1,300 RENT.

Property tax history

+6.8%/yr

Latest (2020): $672 · +2.4% YoY. Source: county tax records.