401 Orchard Trace Ln #8 · Charlotte, NC 28213

$89,900

2 bd · 1.0 ba · 828 sqft · Condo public records · 1 Days on market

Built 1974 $258/mo HOA · 19% 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 +28.1/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This upper-level unit in Orchard Trace Condos presents an excellent investment opportunity in a prime Charlotte location. Inside, the two-bedroom layout is highly practical, offering a spacious primary bedroom with a large walk-in closet, plus dedicated coat and linen closets for plenty of storage. The kitchen comes equipped with a handy pantry, and the main living area opens directly to a private balcony featuring an extra storage closet. Located just half a mile from the light rail, commuting and exploring the city is entirely effortless. Whether you are looking to add to your rental portfolio or find an affordable property to renovate and make your own, this condo offers unbeatable conve

Key facts

• Handy pantry
• Private balcony
• Large walk-in closet

Tags

• PRIVATE BALCONY
• LARGE WALK-IN CLOSET
• HANDY PANTRY
• EXTRA STORAGE CLOSET
• PRIME CHARLOTTE LOCATION
• HALF A MILE FROM LIGHT RAIL

Property features AI

Finance

• HOA & community: HOA managed by Greenway Property Management; Monthly association fee of $258.20; Association fee collected monthly

Exterior

• Parking: Parking lot
• Utilities: City water; Public sewer
• Home design: Residential condominium; Site-built construction; One story; Entry level: 2; TOD-TR zoning
• Construction: Brick full exterior; Slab foundation
• Exterior features: Balcony; Paved road access; Private maintained road

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Exhaust hood
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Walk-in pantry; 6 total rooms
• Laundry & utility: No laundry facilities listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.1% 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: Newell Elementary (math 14% / reading 19%, grade F, #1,307 of 1,410 statewide, top 93%, 699 students, 100% FRL); Julius L. Chambers High School (math 40% / reading 35%, grade F, #411 of 535 statewide, top 77%, 2,224 students, 100% FRL) — zoned schools average 100% FRL vs 49% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 44% district-wide (-17 pts) — the specific schools serving this property underperform the Charlotte-Mecklenburg Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 282 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $622 of loan paydown is wiped out by about $3k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $28k; list at $90k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% 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 $89,900

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.55% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.51%
• DSCR: 1.60
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.63% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $389
• Equity at exit: $13,404

10-year hold

• IRR: 7.0%
• Equity multiple: 1.46×
• Total profit: $11,485
• Equity at exit: $7,773

Cash invested: $25,172 (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 28213

• Home prices YoY: -24.9%
• Rents YoY: 0.6%
• Active inventory: 282
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,390 high
• Mortgage (P&I): −$471
• Tax from tax record: −$47 /mo · $569/yr
• Insurance: −$37
• HOA: −$258
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $283

Break-even live

Break-even rent $1,031

Max offer price $89,900

Occupancy floor 75%

Sensitivity live

Price	-10% $334	-5% $309	+0% $283	+5% $258	+10% $233
Rent	-10% $174	-5% $229	+0% $283	+5% $338	+10% $393
Rate	-1.0pp $329	-0.5pp $306	base $283	+0.5pp $260	+1.0pp $236

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Orchard Trace Ln #4 Charlotte, NC	2.0	1.0	864	$1,275	$1.48	24d	1	0.01mi
415 Orchard Trace Ln #2 Charlotte, NC	2.0	1.0	828	$1,195	$1.44	5d	1	0.03mi
325 Orchard Trace Ln Unit 326-7 Charlotte, NC	1.0	1.0	650	$1,050	$1.62	24d	1	0.05mi
419 Orchard Trace Ln #3 Charlotte, NC	3.0	2.0	1056	$1,450	$1.37	17d	1	0.06mi
342 Orchard Trace Ln Charlotte, NC	2.0	1.0	682	$975	$1.43	24d	1	0.06mi
301 Orchard Trace Ln #4 Charlotte, NC	1.0	1.0	648	$1,050	$1.62	24d	1	0.08mi
330 Orchard Trace Ln #7 Charlotte, NC	2.0	1.0	864	$1,275	$1.48	5d	1	0.09mi
241 Orchard Trace Ln #8 Charlotte, NC	1.0	1.0	648	$1,050	$1.62	21d	1	0.09mi
326 Orchard Trace Ln #5 Charlotte, NC	1.0	1.0	648	$1,050	$1.62	24d	1	0.10mi
320 Orchard Trace Ln #5 Charlotte, NC	1.0	1.0	648	$1,050	$1.62	21d	1	0.10mi
340 Graham Meadow Dr Charlotte, NC	3.0	2.0	1052	$1,770	$1.68	17d	1	0.12mi
300 Orchard Trace Ln Charlotte, NC	3.0	2.0	989	$1,350	$1.37	24d	1	0.12mi
6812 Malagant Ln Charlotte, NC	3.0	2.0	1056	$1,700	$1.61	24d	1	0.20mi
2508 April Liu Ln Charlotte, NC	1.0–3.0	1.0–2.5	1122	$1,534	$1.37	2d	32	0.24mi
520 Tom Hunter Rd Unit 301 Charlotte, NC	2.0	2.0	1054	$1,595	$1.51	24d	1	0.31mi
520 Tom Hunter Rd Unit 309 Charlotte, NC	1.0	1.0	780	$1,545	$1.98	24d	1	0.31mi
8108 Grace Farms Dr Charlotte, NC	1.0–3.0	1.0–2.0	1084	$1,910	$1.76	5d	22	0.32mi
8812 Ikea Blvd Charlotte, NC	2.0	1.0–2.0	941	$1,919	$2.04	2d	90	0.34mi
404 Gallop Ln Unit 4222 Charlotte, NC	1.0	1.0	813	$1,520	$1.87	5d	1	0.48mi
404 Gallop Ln Charlotte, NC	1.0–2.0	1.0–2.0	1019	$2,294	$2.25	17d	5	0.48mi
2003 Canterwood Dr Charlotte, NC	1.0–3.0	1.0–2.0	990	$1,742	$1.76	2d	12	0.51mi
6940 Hidden Forest Dr Charlotte, NC	1.0–2.0	1.0–2.0	773	$1,300	$1.68	4d	8	0.52mi
336 Blackhawk Rd Charlotte, NC	1.0–3.0	1.0–2.5	997	$1,783	$1.79	2d	16	0.63mi
5340 Periwinkle Hill Ave Charlotte, NC	1.0–3.0	1.0–2.0	1033	$1,656	$1.60	2d	41	0.67mi
5025 Wembley Central Ln Charlotte, NC	1.0–3.0	1.0–2.0	1202	$1,925	$1.60	2d	17	0.73mi
1117 Mineral Springs Rd Charlotte, NC	1.0	1.0	632	$1,400	$2.22	24d	1	0.75mi
5200 Oxford Pond Dr Charlotte, NC	1.0–3.0	1.0–2.5	1057	$1,911	$1.81	3d	23	0.76mi
1305 Hunter Oaks Ln Unit 114 Charlotte, NC	1.0	1.0	744	$1,100	$1.48	24d	1	0.77mi
1305 Hunter Oaks Ln Unit 115 Charlotte, NC	3.0	2.0	1076	$1,500	$1.39	24d	1	0.77mi
1300 Hunter Oaks Ln Charlotte, NC	1.0–3.0	1.0–2.0	910	$1,300	$1.43	5d	6	0.77mi
1305 Hunter Oaks Ln Charlotte, NC	2.0	2.0	996	$1,300	$1.31	24d	1	0.79mi
1305 Hunter Oaks Ln Unit 1302-15 Charlotte, NC	2.0	2.0	996	$1,300	$1.31	5d	1	0.79mi
1305 Hunter Oaks Ln Unit 1303-01 Charlotte, NC	3.0	2.0	1076	$1,500	$1.39	5d	1	0.79mi
1400 Ventura Way Dr Charlotte, NC	3.0	1.0–1.5	650	$1,371	$2.11	2d	18	0.83mi
6126 Amberly Ln Charlotte, NC	3.0	2.0	1115	$2,050	$1.84	17d	1	0.85mi
6126 Amberly Ln Charlotte, NC	3.0	2.0	1115	$2,050	$1.84	21d	1	0.85mi
1841 Prospect Dr Charlotte, NC	1.0–3.0	1.0–2.0	915	$1,291	$1.41	8d	25	1.10mi
815 Echo Glen Rd Charlotte, NC	3.0	1.5	1125	$1,495	$1.33	15d	1	1.20mi
305 Prine Pl Charlotte, NC	3.0	1.0–2.0	1019	$2,151	$2.11	2d	34	1.22mi
1240 Merrick St Charlotte, NC	2.0–4.0	2.0	1204	$1,250	$1.04	24d	1	1.37mi

HOA detail condo

• Monthly dues: $258 · $3,096/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-13
   remarks 699-char remark
2. 2026-06-13
   listed $89,900 Pending 1 DOM

ⓘ 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: $569 · $47/mo
• Projected year-2 tax: $737 · $61/mo
• Expected delta: +$168/yr (+$14/mo · 29.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,676
• − Mortgage interest: −$5,036
• − Property taxes: −$569
• − Insurance: −$450
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − HOA: −$3,096
• − Depreciation: −$2,615
• Taxable income: $2,242
• Est. tax owed @ 24.0%: −$538
• After-tax cash flow: $2,864/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): 45,904
• Household income: $58,146
• Rent vs Own: 55.9% rent · 44.1% own
• Severe rent burden: 3547.0

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 0.66)
• Race & ethnicity: Black 48% Hispanic / Latino 27% White 18% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1% Dominican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 23% Other Indo-European 1% Arabic 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: ▼ -88.12%
• Current HPI: 265.9966
• Rent YoY: ▲ 0.63%
• 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

+221.1% since first listed

3 events — show timeline

• 2026-06-11 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-06-10 Listed $89,900 CANOPYMLS as Distributed by MLS Grid
• 1993-11-01 Sold (Public Records) $28,000 Public Records

Property tax history

+0.7%/yr

Latest (2022): $569 · +2.0% YoY. Source: county tax records.