2648 Coretha Ct · Charlotte, NC 28216

$279,990

3 bd · 2.5 ba · 1,577 sqft · Townhouse · 19 Days on market

Built 2026 Good condition 1,785 sqft lot Est $301k · 7% under $155/mo HOA · 6% 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).

• ARV discount +10.7/15.0
• Cash flow +10.3/30.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +3.8/10.0
• DSCR +3.0/10.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

New building released—rare END UNIT opportunity! To-be-built 3-story Juniper townhome in the tree-lined Sunset Creek community, just minutes from Uptown Charlotte with easy access to highways, shopping, and dining. Entry level features a versatile flex space—ideal for a home office, gym, or guest room—plus a front-entry 1-car garage. The open main level offers a bright kitchen with stainless steel appliances, large island, and seamless flow into the living and dining areas. Upstairs includes a private owner’s suite with walk-in closet and en-suite bath, along with two additional bedrooms, full bath, and convenient laundry. Incredible savings included! HOA covers lawn

Key facts

• Versatile flex space
• Bright kitchen
• End unit opportunity

Tags

• END UNIT OPPORTUNITY
• VERSATILE FLEX SPACE
• BRIGHT KITCHEN
• STAINLESS STEEL APPLIANCES
• LARGE ISLAND
• PRIVATE OWNER’S SUITE

Property features AI

Finance

• Other: Proposed development status
• HOA & community: HOA present (mandatory); Monthly association fee of $155; Association annual expense listed; Community features: sidewalks, street lights; Pets allowed; Architectural review restriction

Exterior

• Parking: Attached garage with garage door opener (garage faces front); Driveway; 1-car garage
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: City water; Public sewer; Cable available; Underground power and utilities
• Home design: Townhouse (residential); Three levels; Entry level is main; End unit; New construction (proposed completion: 2026-10-15)
• Construction: Site-built; Stone veneer and vinyl exterior; Slab foundation; Built by Ryan Homes (model: Juniper)
• Exterior features: Front porch; Patio; Lawn maintenance; End unit; Concrete/paved private maintained road

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Electric range; Microwave; Plumbed for ice maker; Exhaust fan
• Bedrooms: 3 bedrooms (all on upper level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom (main level)
• Heating & cooling: Electric heating; Central air; Heat pump; Zoned cooling
• Interior features: Open floorplan; Attic pull-down stairs; Storage; Insulated windows; Kitchen island
• Laundry & utility: Washer/Dryer (hookups); Electric dryer hookup; Washer hookup; Laundry closet; Laundry located on upper level; Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $280k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (12.4% below list).
• Recommended offer: $245k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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: Oakdale Elementary (math 7% / reading 15%, grade F, #1,378 of 1,410 statewide, top 98%, 462 students, 99% FRL); West Charlotte High School (math 33% / reading 34%, grade F, #436 of 535 statewide, top 82%, 1,538 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 22% at this address vs 44% district-wide (-22 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 rising (+2.1%/yr); 463 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).
• This rent runs 45% of the median local income ($66k/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 $8k 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 19 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.

Recommended offer $245,180 (12.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 0.88% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.34%
• DSCR: 0.90
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $301,207
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2608 Coretha Ct	0.04mi	3/2.5	1,576 (-0%)	5mo	$291,590	$185	94
2604 Coretha Ct	0.04mi	3/2.5	1,567 (-1%)	5mo	$308,970	$197	92
2159 Primm Farms Dr Unit C	0.06mi	3/2.5	1,689 (+7%)	12mo	$310,345	$184	75
1805 Woodlands Pointe Dr	0.11mi	3/2.5	1,681 (+7%)	14mo	$323,365	$192	72
2124 Primm Farms Dr Unit E	0.10mi	3/2.5	1,695 (+8%)	13mo	$331,405	$196	72
2170 Primm Farms Dr Unit D	0.09mi	3/3.0	1,689 (+7%)	14mo	$322,000	$191	70
2162 Primm Farms Dr	0.09mi	3/2.5	1,689 (+7%)	16mo	$314,990	$186	70
2132 Primm Farms Dr	0.10mi	3/2.5	1,717 (+9%)	13mo	$304,990	$178	70
1809 Woodlands Pointe Dr	0.11mi	3/3.0	1,717 (+9%)	14mo	$312,450	$182	66
1828 Woodlands Pointe Dr	0.13mi	3/2.5	1,717 (+9%)	17mo	$304,990	$178	65
2113 Gemway Dr	0.64mi	3/2.5	1,567 (-1%)	13mo	$310,000	$198	58
2117 Gemway Dr	0.64mi	3/2.5	1,567 (-1%)	13mo	$310,000	$198	58

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 · 2.08% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-57,234
• Equity at exit: $41,747

10-year hold

• IRR: -17.1%
• Equity multiple: 0.10×
• Total profit: $-70,910
• Equity at exit: $24,208

Cash invested: $78,397 (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 28216

• Home prices YoY: -31.8%
• Rents YoY: 2.1%
• Active inventory: 463
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,452 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$155
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $-153

Break-even live

Break-even rent $2,646

Max offer price $257,847

Occupancy floor —

Sensitivity live

Price	-10% $40	-5% $-56	+0% $-153	+5% $-250	+10% $-347
Rent	-10% $-347	-5% $-250	+0% $-153	+5% $-56	+10% $41
Rate	-1.0pp $-12	-0.5pp $-82	base $-153	+0.5pp $-226	+1.0pp $-299

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: $69,998
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2129 Primm Farms Dr Charlotte, NC	3.0	2.5	1681	$2,290	$1.36	0d	1	0.05mi
1405 Summer Coach Dr Charlotte, NC	3.0	2.5	1568	$1,915	$1.22	0d	1	0.38mi
2423 Sunset Oaks Dr Charlotte, NC	4.0	2.5	2100	$2,200	$1.05	25d	1	0.68mi
3920 Oakdale Rd Unit 1466115P Charlotte, NC	4.0	2.5	1883	$3,996	$2.12	0d	1	0.74mi
6319 Elliott Dr Charlotte, NC	4.0	3.0	2250	$2,099	$0.93	25d	1	0.74mi
2027 Swan Dr Charlotte, NC	3.0	2.5	1500	$2,557	$1.70	0d	13	0.76mi
1518 Braveheart Ln Charlotte, NC	3.0	2.5	1209	$1,790	$1.48	9d	1	0.84mi
4122 Bunker Dr Unit 1466112P Charlotte, NC	4.0	2.5	1883	$3,775	$2.00	3d	1	0.86mi
4118 Bunker Dr Unit 1367336P Charlotte, NC	4.0	2.5	1883	$3,453	$1.83	4d	1	0.86mi
4106 Bunker Dr Unit 1323445P Charlotte, NC	4.0	2.5	1883	$3,740	$1.99	6d	1	0.87mi
3121 Banyan Bottom Ln Unit 1367333P Charlotte, NC	4.0	2.5	1883	$4,190	$2.23	3d	1	0.88mi
4016 Bunker Dr Unit 1466113P Charlotte, NC	4.0	2.5	1883	$3,645	$1.94	0d	1	0.88mi
4016 Bunker Dr Unit 1367338P Charlotte, NC	4.0	2.5	1883	$3,795	$2.02	9d	1	0.88mi
3105 Banyan Bottom Ln Unit 1323446P Charlotte, NC	4.0	2.5	1883	$3,870	$2.06	3d	1	0.88mi
1131 Fairway Green Ln Unit 1367334P Charlotte, NC	4.0	2.5	1883	$3,714	$1.97	6d	1	0.89mi
1405 Braveheart Ln Charlotte, NC	3.0	2.5	1418	$1,815	$1.28	17d	1	0.93mi
1347 Braveheart Ln Charlotte, NC	3.0	2.0	1105	$1,699	$1.54	15d	1	0.94mi
1343 Braveheart Ln Charlotte, NC	3.0	2.5	1320	$1,770	$1.34	25d	1	0.95mi
2608 Clarencefield Dr Charlotte, NC	3.0	2.0	1265	$2,250	$1.78	0d	1	1.09mi
2608 Clarencefield Dr Charlotte, NC	3.0	2.0	1265	$2,250	$1.78	25d	1	1.09mi
1132 Hipp Rd Charlotte, NC	3.0	2.0	1700	$1,950	$1.15	9d	1	1.24mi
6201 McIntyre Ridge Dr Charlotte, NC	3.0	2.5	1376	$1,895	$1.38	17d	1	1.26mi
2918 Tindle Hill Ln Charlotte, NC	3.0	2.0	1814	$1,850	$1.02	25d	1	1.28mi
6207 Linda Vista Ln Charlotte, NC	3.0	2.0	1688	$1,929	$1.14	6d	1	1.31mi
5712 Oak Dr Charlotte, NC	3.0	2.5	1846	$2,800	$1.52	17d	1	1.33mi
6209 Patric Alan Ct Charlotte, NC	3.0	3.0	1990	$1,963	$0.99	0d	1	1.35mi
2626 Gingham St Charlotte, NC	4.0	2.5	2060	$2,200	$1.07	12d	1	1.41mi
6211 Whispering Brook Ct Charlotte, NC	3.0	2.0	1235	$1,819	$1.47	25d	1	1.41mi
7010 Wandering Creek Dr Charlotte, NC	3.0	2.0	1222	$1,300	$1.06	15d	1	1.45mi
3829 Frank Vance Rd Charlotte, NC	4.0	2.5	1956	$2,340	$1.20	4d	1	1.46mi
6831 Sunman Rd Charlotte, NC	3.0	2.5	1664	$1,795	$1.08	6d	1	1.49mi
6831 Sunman Rd Charlotte, NC	3.0	2.5	1664	$1,795	$1.08	25d	1	1.49mi
3304 Sunset Rd Charlotte, NC	3.0	2.0	1300	$1,720	$1.32	4d	1	1.50mi

HOA detail

• Monthly dues: $155 · $1,860/yr
• Likely covers: gym

Listing history 12 events

1. 2026-06-21
   days on market $279,990 Active 19 DOM
2. 2026-06-18
   days on market $279,990 Active 16 DOM
3. 2026-06-17
   days on market $279,990 Active 15 DOM
4. 2026-06-16
   days on market $279,990 Active 14 DOM
5. 2026-06-15
   days on market $279,990 Active 13 DOM
6. 2026-06-13
   pricedays on market $279,990 Active 11 DOM
7. 2026-06-09
   days on market $278,990 Active 7 DOM
8. 2026-06-08
   days on market $278,990 Active 6 DOM
9. 2026-06-07
   days on market $278,990 Active 5 DOM
10. 2026-06-04
    days on market $278,990 Active 2 DOM
11. 2026-06-02
    remarks 675-char remark
12. 2026-06-02
    listed $278,990 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $29,422
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,354
• − Management: −$2,354
• − HOA: −$1,860
• − Depreciation: −$8,145
• Taxable loss: −$6,575
• Est. tax savings @ 24.0%: +$1,578
• After-tax cash flow: $-258/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 · 6 photos

Good 80/100 None rehab

This end-unit townhome in Sunset Creek is in excellent condition with modern finishes and a move-in-ready appearance. It offers a great opportunity for both buyers and renters with its prime location and well-maintained features.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants.
• Resale Upgrading the kitchen appliances — Modern appliances can increase the home's appeal to potential buyers.
• Both Adding smart home features — Smart home features can increase convenience and appeal to both buyers and tenants.
• Resale Upgrading the flooring in the bathrooms — Updated flooring can enhance the overall aesthetic and value of the home.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can increase the home's appeal to potential buyers. ↑
• Both Adding smart home features — Smart home features can increase convenience and appeal to both buyers and tenants. ↑
• Resale Upgrading the flooring in the bathrooms — Updated flooring can enhance the overall aesthetic and value of the home. ↑

ⓘ 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): 57,507
• Household income: $65,795
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 3184.0

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: Black 60% White 20% Hispanic / Latino 12% Asian 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 13% · Canada, Vietnam, Philippines
• Languages at home: 82% English-only · Spanish 11% Other Asian/Pacific 2% Other Indo-European 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: ▼ -130.17%
• Current HPI: 278.6861
• Rent YoY: ▲ 2.08%
• 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

1 event — show timeline

• 2026-06-02 Listed $278,990 CANOPYMLS as Distributed by MLS Grid