324 Pawley Dr · Charlotte, NC 28214

$325,000

3 bd · 1.0 ba · 2,820 sqft · SingleFamily public records · 48 Days on market

Built 1970 0.51 ac lot Est $434k · 25% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.3/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Qualifies for 100% financing & $10,000 in closing costs!!! This 3-bedroom, 1-bath brick ranch delivers the kind of flexibility and lifestyle today’s buyers are searching for. Move-in ready yet full of potential, the home features a partially finished basement currently used as a den or optional fourth bedroom, plus a large unfinished basement area with exterior access and a garage door—ideal for storage, a workshop, or future finished space. Step outside to a half-acre lot designed for relaxing and entertaining, complete with a backyard tiki bar and storage shed, offering room to host, garden, or expand your outdoor vision. Whether you’re a homeowner looking to perso

Key facts

• Backyard tiki bar
• Exterior access
• Half-acre lot

Tags

• PARTIALLY FINISHED BASEMENT
• LARGE UNFINISHED BASEMENT
• BACKYARD TIKI BAR
• STORAGE SHED
• HALF-ACRE LOT
• EXTERIOR ACCESS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway; Detached garage with 1 garage space and main-level garage access; Basement garage door
• Utilities: Well water; Septic system installed
• Home design: Single-family residential home; Site-built construction; One level (main living level) with finished basement; Brick exterior
• Construction: Brick construction; Basement foundation; Basement includes partially finished and unfinished areas
• Exterior features: Concrete/paved driveway and road access; Publicly maintained road

Interior

• Kitchen: Electric oven; Electric range
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 9 total rooms; Partially finished basement with storage and shop space; Basement offers apartment potential with both interior and exterior entries and walk-up/walk-out access
• Laundry & utility: In-unit laundry located inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-15 ($-184/yr) — negative.
• To cash-flow at today's rent, offer at most $322k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (21.5% below list).
• Recommended offer: $255k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 9 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 runs 35% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 48 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $255,014 (21.5% 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 48 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.78% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $434,280
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10728 Ridge Acres Rd	0.26mi	4/2.5 (+1)	2,451 (-13%)	8mo	$449,000	$183	48
10527 River Hollow Ct	0.72mi	4/2.5 (+1)	2,711 (-4%)	4mo	$415,000	$153	46
9612 Eagle Feathers Dr	0.60mi	4/2.5 (+1)	2,699 (-4%)	13mo	$390,000	$144	43
10738 Ridge Acres Rd	0.24mi	4/2.5 (+1)	2,413 (-14%)	19mo	$435,000	$180	38
1119 Chalk Hill Ln	0.22mi	4/2.5 (+1)	2,399 (-15%)	21mo	$370,000	$154	36
10600 Appleberry Ln	0.66mi	4/2.5 (+1)	2,659 (-6%)	20mo	$330,000	$124	32

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: -16.3%
• Equity multiple: 0.42×
• Total profit: $-52,832
• Equity at exit: $48,459

10-year hold

• IRR: -7.5%
• Equity multiple: 0.52×
• Total profit: $-43,919
• Equity at exit: $28,100

Cash invested: $91,000 (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: 10.6×

Monthly cashflow live

• Estimated rent: $2,550 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$190 /mo · $2,282/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $-15

Break-even live

Break-even rent $2,570

Max offer price $322,296

Occupancy floor 96%

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11124 Pointer Ridge Dr Charlotte, NC	4.0	3.0	2080	$2,050	$0.99	20d	1	0.36mi
806 Pine Forest Rd Charlotte, NC	4.0	2.5	3144	$3,500	$1.11	1d	1	0.36mi
10731 Spruce Mountain Rd Charlotte, NC	3.0	2.5	2534	$2,300	$0.91	20d	1	0.73mi
1513 Pine Mountain Rd Charlotte, NC	3.0	2.5	2040	$1,975	$0.97	16d	1	0.79mi
9572 Turning Wheel Dr Charlotte, NC	3.0	2.5	2032	$2,070	$1.02	3d	1	1.19mi
2307 Harwood Hills Ln Charlotte, NC	3.0	2.5	2166	$2,400	$1.11	16d	1	1.28mi
2405 Harwood Hills Ln Charlotte, NC	3.0	2.5	2304	$2,365	$1.03	7d	1	1.34mi
7005 Bermuda Woods Rd Charlotte, NC	4.0	3.0	2350	$2,700	$1.15	3d	1	1.37mi
9711 Cayenne Dr Charlotte, NC	4.0	2.5	2470	$2,290	$0.93	22d	1	1.48mi

Listing history 21 events

1. 2026-06-18
   days on market $325,000 Active 48 DOM
2. 2026-06-17
   pricedays on market $325,000 Active 47 DOM
3. 2026-06-16
   days on market $350,000 Active 46 DOM
4. 2026-06-15
   days on market $350,000 Active 45 DOM
5. 2026-06-13
   days on market $350,000 Active 43 DOM
6. 2026-06-09
   days on market $350,000 Active 39 DOM
7. 2026-06-08
   days on market $350,000 Active 38 DOM
8. 2026-06-07
   days on market $350,000 Active 37 DOM
9. 2026-06-04
   days on market $350,000 Active 34 DOM
10. 2026-06-03
    days on market $350,000 Active 33 DOM
11. 2026-06-02
    days on market $350,000 Active 32 DOM
12. 2026-06-02
    days on market $350,000 Active 31 DOM
13. 2026-05-31
    days on market $350,000 Active 30 DOM
14. 2026-05-02
    listed $350,000 Active
15. 2026-02-18
    historical Active Under Contract
16. 2026-01-23
    price $349,900
17. 2026-01-20
    price $350,000
18. 2026-01-17
    price $349,900
19. 2026-01-12
    listed $350,000 Active
20. 2025-12-05
    soldstatus $300,000
21. 1990-08-01
    soldstatus $60,000

ⓘ 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: $2,282 · $190/mo
• Projected year-2 tax: $2,665 · $222/mo
• Expected delta: +$383/yr (+$32/mo · 16.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $30,602
• − Mortgage interest: −$18,205
• − Property taxes: −$2,282
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − Depreciation: −$9,455
• Taxable loss: −$5,861
• Est. tax savings @ 24.0%: +$1,407
• After-tax cash flow: $1,223/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): 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

+483.3% since first listed

8 events — show timeline

• 2026-05-02 Listed $350,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-18 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $349,900 CANOPYMLS as Distributed by MLS Grid
• 2026-01-20 Price Changed $350,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-17 Price Changed $349,900 CANOPYMLS as Distributed by MLS Grid
• 2026-01-12 Listed $350,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-05 Sold (Public Records) $300,000 Public Records
• 1990-08-01 Sold (Public Records) $60,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,282 · +2.1% YoY. Source: county tax records.