5800 Pennycross Ln · Charlotte, NC 28216

$200,000

3 bd · 2.0 ba · 1,319 sqft · SingleFamily public records · 2 Days on market

Built 1994 0.25 ac lot Est $285k · 30% under

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Why this score? — see what drove the C+ 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 +20.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.0/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1994

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached 2-car garage; Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; One level; Site-built construction
• Construction: Hardboard siding; Slab foundation
• Exterior features: Quarter-acre lot; Asphalt paved, publicly maintained road access

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Oven; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Seven total rooms; Living room fireplace
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 7.8% 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: 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 (+2.1%/yr); 458 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).
• This rent runs 37% 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 $1k of loan paydown is wiped out by about $6k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 12y ago 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.
• Current owner paid $96k; list at $200k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.00% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.49%
• DSCR: 1.24
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $284,904
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6123 Mcintyre Ridge Dr	0.22mi	3/2.0	1,455 (+10%)	1mo	$285,000	$196	72
5829 Greenway Vista Ln	0.29mi	3/2.0	1,248 (-5%)	15mo	$270,000	$216	65
3320 Alderknoll Ct	0.17mi	4/2.5 (+1)	1,431 (+8%)	13mo	$300,000	$210	60
6324 Linda Vista Ln	0.22mi	3/2.5	1,462 (+11%)	21mo	$315,000	$215	52
6308 Linda Vista Ln	0.22mi	3/2.5	1,462 (+11%)	23mo	$329,000	$225	51
5832 Thompson Rd	0.56mi	3/2.0	1,491 (+13%)	3mo	$255,000	$171	50
2123 Gemway Dr	0.45mi	3/2.5	1,472 (+12%)	12mo	$340,000	$231	48
6307 Sunset Cir	0.72mi	3/1.5	1,196 (-9%)	24mo	$261,000	$218	29

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-17,933
• Equity at exit: $29,821

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-2,030
• Equity at exit: $17,292

Cash invested: $56,000 (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 28216

• Home prices YoY: -31.8%
• Rents YoY: 2.1%
• Active inventory: 458
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,010 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$199 /mo · $2,389/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $256

Break-even live

Break-even rent $1,685

Max offer price $200,000

Occupancy floor 82%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2608 Clarencefield Dr Charlotte, NC	3.0	2.0	1265	$2,250	$1.78	23d	1	0.12mi
6201 McIntyre Ridge Dr Charlotte, NC	3.0	2.5	1376	$1,895	$1.38	16d	1	0.18mi
6207 Linda Vista Ln Charlotte, NC	3.0	2.0	1688	$1,929	$1.14	4d	1	0.22mi
2918 Tindle Hill Ln Charlotte, NC	3.0	2.0	1814	$1,850	$1.02	23d	1	0.39mi
2113 Gemway Dr Charlotte, NC	3.0	2.5	1567	$1,875	$1.20	4d	1	0.48mi
3304 Sunset Rd Charlotte, NC	3.0	2.0	1300	$1,720	$1.32	2d	1	0.62mi
9131 Feldbank Dr Charlotte, NC	3.0	1.0	992	$1,645	$1.66	4d	1	0.92mi
6834 Flaxseed Ln Charlotte, NC	3.0	2.0	1010	$1,650	$1.63	21d	1	0.93mi
4283 Glenlea Commons Dr Charlotte, NC	3.0	2.5	1551	$1,795	$1.16	17d	1	0.96mi
4283 Glenlea Commons Dr Charlotte, NC	3.0	2.5	1551	$1,750	$1.13	7d	1	0.96mi
5325 Evanshire Dr Charlotte, NC	3.0	1.5	1333	$1,800	$1.35	23d	1	0.99mi
9307 Feldbank Dr Charlotte, NC	3.0	1.5	1266	$1,898	$1.50	1d	1	1.01mi
9324 Edgevale Dr Charlotte, NC	3.0	1.0	1016	$1,635	$1.61	17d	1	1.04mi
5736 Lawnmeadow Dr Charlotte, NC	3.0	1.0	1044	$1,723	$1.65	23d	1	1.05mi
5324 Elderbank Dr Charlotte, NC	3.0	1.0	1038	$1,600	$1.54	10d	1	1.06mi
9124 Lowfalls Ln Charlotte, NC	3.0	2.5	1429	$1,950	$1.36	23d	1	1.25mi
1405 Summer Coach Dr Charlotte, NC	3.0	2.5	1568	$1,930	$1.23	3d	1	1.34mi
4009 Ranchview Ln Charlotte, NC	4.0	2.5	1505	$1,955	$1.30	23d	1	1.40mi
1113 Capps Hollow Dr Charlotte, NC	3.0	2.0	1025	$1,629	$1.59	16d	1	1.44mi
5712 Oak Dr Charlotte, NC	3.0	2.5	1846	$2,800	$1.52	16d	1	1.47mi

Listing history 14 events

1. 2026-05-26
   listed $200,000 Active
2. 2023-05-16
   listed $239,999 Active
3. 2015-06-12
   soldstatus $96,500 Closed 423-char remark

   Show marketing remark (423 chars)

   Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

4. 2015-06-12
   soldstatus $96,500

   Show marketing remark (423 chars)

   Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

5. 2015-04-22
   historical Under Contract - No Show 423-char remark

   Show marketing remark (423 chars)

   Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

6. 2015-04-21
   status Active 423-char remark

   Show marketing remark (423 chars)

   Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

7. 2015-03-27
   historical 423-char remark

   Show marketing remark (423 chars)

   Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

8. 2014-12-20
   status Active 423-char remark

   Show marketing remark (423 chars)

   Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

9. 2014-12-16
   historical Under Contract - No Show 423-char remark

   Show marketing remark (423 chars)

   Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

10. 2014-11-07
    status Active 423-char remark

    Show marketing remark (423 chars)

    Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

11. 2014-10-25
    historical Under Contract - No Show 423-char remark

    Show marketing remark (423 chars)

    Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

12. 2014-10-18
    listed $94,900 Active 423-char remark

    Show marketing remark (423 chars)

    Split bedroom plan ranch plan on corner lot in established neighborhood w/ no HOA fees. Vaulted great room with marble surround fireplace. Formal dining room is off the eat in kitchen in its own defined space, but still open to great room for ideal entertaining. Vaulted master suite with walk-in closet and garden tub/shower combo. Deck has private view of rear tree line. Straight shot of about 8 miles from downtown.

13. 2006-06-01
    soldstatus $119,000
14. 2000-02-29
    soldstatus $110,000

ⓘ 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: $2,389 · $199/mo
• Projected year-2 tax: $2,389 · $199/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 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: $24,114
• − Mortgage interest: −$11,203
• − Property taxes: −$2,389
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − Depreciation: −$5,818
• Taxable loss: −$155
• Est. tax savings @ 24.0%: +$37
• After-tax cash flow: $3,112/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): 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

+81.8% since first listed

14 events — show timeline

• 2026-05-26 Listed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2023-05-16 Listed $239,999 CANOPYMLS as Distributed by MLS Grid
• 2015-06-12 Sold (Public Records) $96,500 Public Records
• 2015-06-12 Sold (MLS) $96,500 CANOPYMLS as Distributed by MLS Grid
• 2015-04-22 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2015-04-21 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2015-03-27 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2014-12-20 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2014-12-16 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2014-11-07 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2014-10-25 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2014-10-18 Listed $94,900 CANOPYMLS as Distributed by MLS Grid
• 2006-06-01 Sold (Public Records) $119,000 Public Records
• 2000-02-29 Sold (Public Records) $110,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,389 · +2.1% YoY. Source: county tax records.