13115 Architecture Ct

Charlotte, NC 28214

$355,990F

4 bd · 2.5 ba · 1,749 sqft · Built 2027 · SingleFamily · Active · 172 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,230/mo
• Mortgage (P&I): −$1,867
• Tax + insurance: −$593
• HOA: −$78
• Vac / Maint / Mgmt: −$468
• Net cashflow: $-777/mo
• Annual: $-9,322/yr
• Cap rate: 3.67%
• Cash-on-cash: -9.35%
• DSCR: 0.58
• 1% rule: 0.63%
• Cash to close: $99,677

Investor read

• This is a 4-bed/2.5-bath single-family listed at $356k. Condition is rated good.
• At list price, monthly cash flow is $-777 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (31.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (37.4% below list).
• It's been on market 172 days — a 12% lower offer ($313k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $223k (37.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• 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: Whitewater Academy (math 25% / reading 28%, grade F, #1,073 of 1,410 statewide, top 77%, 793 students, 100% FRL); Whitewater Middle (math 24% / reading 25%, grade F, #399 of 475 statewide, top 84%, 708 students, 100% FRL); West Mecklenburg High School (math 42% / reading 35%, grade F, #403 of 535 statewide, top 76%, 1,207 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 30% at this address vs 44% district-wide (-14 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 (+3.4%/yr); 661 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).
• Mecklenburg County population projected at +53% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 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.
• This rent runs 31% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 172 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?