3314 Leamington Ln #6 · Charlotte, NC
Flood risk 1/10 · Minimal
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.0%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $906 – $1,684
Heat risk 6/10 · Moderate
- Hot days now (above 105°F)
- 7 days/yr
- Hot days in 30 yrs
- 16 days/yr
Wind risk 6/10 · Moderate
- Chance of severe wind over 30 yrs
- 27.0%
Air-quality risk 2/10 · Minimal
- Unhealthy air days now
- 2 days/yr
- Unhealthy air days in 30 yrs
- 2 days/yr
Risk factors via First Street. Map © Google.
Why this score? — see what drove the F 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
- Schools +6.3/10.0
- Condition / age +4.8/5.0
- Livability +3.9/5.0
- Rent growth +2.4/5.0
- Cash flow +0.0/30.0
- 1% rule +0.0/10.0
- DSCR +0.0/10.0
- Appreciation +0.0/10.0
$3,100,000
3314 Leamington Ln #6 · Charlotte, NC 28226
6 bd · 7.0 ba · 10,512 sqft · SingleFamily
· 6 Days on market
Built 1999
1.08 ac lot
Garage
$295/sqft
· 35% below area
Est $4.779M · 35% under
$216/mo HOA · 9% of rent
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
Simonini- built classic Georgian estate on a private 1+ acre lot in the gated Dovewood community, just minutes from SouthPark mall and Phillips Place. This luxury home offers six bedrooms, six full baths, two powder rooms, and multiple bonus areas, including a fitness room and home theatre, plus a third-floor climate controlled seasonal closet. The main entrance showcases a dramatic two-story foyer with elegant wall moldings and a richly appointed study wrapped in mahogany paneling. The main floor also features a bright, sunny primary suite with a recently updated luxury bath, including a custom-tiled shower and vessel tub.
Key facts
- Gated community
- Private acre lot
- Home theatre
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 6-bed/7.0-bath single-family listed at $3.10M. Condition is rated excellent.
Deal economics
- At list price, monthly cash flow is $-20k ($-237k/yr) — negative.
- To cash-flow at today's rent, offer at most $245k (92.1% below list).
- To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (92.2% below list).
- Recommended offer: $242k (92.2% below list) — sets the bar for 1% rule.
- Cap rate -1.3% vs local median 3.2% in Charlotte — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
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: Beverly Woods Elementary (math 76% / reading 68%, grade A-, #73 of 1,410 statewide, top 6%, 611 students, 15% FRL); Carmel Middle (math 47% / reading 48%, grade C-, #140 of 475 statewide, top 30%, 1,076 students, 25% FRL); South Mecklenburg High School (math 71% / reading 66%, grade B, #134 of 535 statewide, top 25%, 3,344 students, 36% FRL) — zoned schools average 25% FRL vs 49% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
- Zoned-school proficiency averages 63% at this address vs 44% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Charlotte-Mecklenburg Schools average implies; a family-tenant draw the district grade alone would hide.
- Market conditions: Rents soft (-0.2%/yr); 291 active listings in the ZIP; high-income renter base; 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 $21k of loan paydown is wiped out by about $93k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
Risks & watch-outs
- Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer
$241,884
(92.2% below list)
Questions for the 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?
- What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
- 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?
- 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.
- 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.
- 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
- 0.08% ✗
- Cap rate
- -1.34%
- Cash-on-cash
- -27.27%
- DSCR
- -0.21
- GRM
- 106.8
CMA / ARV
- ARV (median comp)
- $4,779,247
- List price
- $3,100,000
- Delta
- -35.14%
- Verdict
- UNDERPRICED
- Comps
- 6 within 1.0 mi
Show comp detail 9 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 1816 Craigmore Dr | 1.34mi | 6/7.0 | 10,037 (-4%) | 18mo | $3,587,000 | $357 | 42 |
| 2715 Loch Ln | 0.46mi | 7/8.5 (+1) | 9,054 (-14%) | 16mo | $6,825,000 | $754 | 31 |
| 4019 River Ridge Rd | 1.24mi | 6/8.0 | 8,557 (-19%) | 9mo | $6,150,000 | $719 | 29 |
| 2105 La Gorce Dr | 1.03mi | 6/7.0 | 8,152 (-22%) | 17mo | $6,395,000 | $784 | 26 |
| 7912 Baltusrol Ln | 1.30mi | 6/8.0 | 8,488 (-19%) | 16mo | $3,500,000 | $412 | 23 |
| 7409 Stonecroft Park Dr | 1.07mi | 7/7.0 (+1) | 7,898 (-25%) | 15mo | $1,700,000 | $215 | 23 |
| 7330 Baltusrol Ln | 1.41mi | 5/7.5 (-1) | 11,547 (+10%) | 34mo | $7,600,000 | $658 | 22 |
| 1917 Bent Branch Rd | 1.28mi | 6/8.5 | 13,124 (+25%) | 18mo | $9,825,000 | $749 | 19 |
| 7214 Baltusrol Ln | 1.37mi | 5/7.5 (-1) | 7,995 (-24%) | 26mo | $6,860,000 | $858 | 13 |
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 · 0.0% rent growth · sell at horizon
5-year hold
- IRR
- -80.4%
- Equity multiple
- -1.03×
- Total profit
- $-1,765,772
- Equity at exit
- $462,220
10-year hold
- IRR
- —
- Equity multiple
- -2.67×
- Total profit
- $-3,182,281
- Equity at exit
- $268,031
Cash invested: $868,000 (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.
Active competition Active MLS
- For sale now
- 0 active · 1 under contract
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 28226
- Rents YoY
- -0.2%
- Active inventory
- 291
- Price-to-rent
- 106.8×
Monthly cashflow live
↻
- Estimated rent
- $2,419 medium interval (Pro) →
- Mortgage (P&I)
- −$16,257
- Tax est. 1.5%
- −$3,875 /mo · $46,500/yr
- Insurance
- −$1,292
- HOA
- −$216
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$508
- Net cashflow
- $-19,729
Break-even live
Break-even rent
$27,392
Max offer price
$245,252
Occupancy floor
—
Sensitivity live
| Price | -10% $-17,586 | -5% $-18,657 | +0% $-19,729 | +5% $-20,800 | +10% $-21,871 |
|---|---|---|---|---|---|
| Rent | -10% $-19,920 | -5% $-19,824 | +0% $-19,729 | +5% $-19,633 | +10% $-19,537 |
| Rate | -1.0pp $-18,167 | -0.5pp $-18,940 | base $-19,729 | +0.5pp $-20,532 | +1.0pp $-21,349 |
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
- $775,000
- Closing costs
- $93,000
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Property features AI
Finance
- Financial info
- Association fee is charged annually
- HOA & community
- Mandatory HOA (Cusick Community)Annual association fee
Exterior
- Parking
- Attached garage facing sideThree garage spacesDrivewayMain-level garage
- Security
- Gated community
- Utilities
- City waterPublic sewerSolar utilities
- Home design
- Single-family residenceSite-built constructionThree levelsBrick exterior
- Construction
- Brick full constructionBasement foundationBuilt by Simonini
- Exterior features
- Covered rear porch and terraceHot tubIn-ground irrigationOutdoor kitchenFenced yard with privacy stone fencingPrivate, wooded settingConcrete road access on a privately maintained roadIn-ground private pool
Interior
- Kitchen
- Bar fridgeDishwasherDouble ovenInduction cooktopMicrowaveRefrigeratorWall ovenKitchen islandWalk-in pantry
- Bedrooms
- Six bedrooms totalOne bedroom on main levelFour bedrooms on upper levelOne bedroom in basement
- Flooring
- CarpetTileWood
- Bathrooms
- Six full bathroomsTwo half bathrooms
- Heating & cooling
- Central heatingCentral air conditioning
- Interior features
- Attic with walk-in accessBuilt-in features throughoutGarden tubKitchen islandOpen floorplanPantryStorage spaceWalk-in closetsWalk-in pantryWet barFinished basementFireplaces with gas logs in great room and living room
- Laundry & utility
- Main-level laundry room with sink
HOA detail $216/mo · $2,592/yr
- Likely covers
- security
Listing history 1 events
-
2026-05-20$3,100,000 Active
ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot
backfill from property_details.listing_events for pre-trigger history.
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 ≥105°F today · 16 d/yr by 30 yrs out
- Wind 6/10 Major 27% chance of damaging wind over 30 yrs
- Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $29,026
- − Mortgage interest
- −$173,648
- − Property taxes
- −$46,500
- − Insurance
- −$15,500
- − Repairs & maintenance
- −$2,322
- − Management
- −$2,322
- − HOA
- −$2,592
- − Depreciation
- −$90,182
- Taxable loss
- −$304,040
combined federal + state — saved on this device
- Est. tax savings @ 24.0%
- +$72,970
- After-tax cash flow
- $-163,773/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 · 30 photos
95/100
None rehab
This luxury home in Dovewood is in excellent condition with modern updates and a private 1+ acre lot. It offers multiple bonus areas and is move-in ready.
Value-add opportunities
- Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can increase both resale and rental value ↑
- Both Add smart home features — Improves convenience and can increase both resale and rental value ↑
C
Composite school gradezoned avg 63/100
Zoned Schools
Elementary
Beverly Woods Elementary
A-
NC #73/1,410
Nat'l #2,792/41,679
Middle
Carmel Middle
C-
NC #140/475
Nat'l #4,042/14,009
High
South Mecklenburg High School
B
NC #134/535
Nat'l #2,397/17,239
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
B
Composite livability gradescore 78/100
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 · 1,305,740 people
- City population
- 920,422
- Metro
- Charlotte-Concord-Gastonia, NC-SC
- Population (ZIP)
- 39,381
- Household income
- $118,606
- Rent vs Own
- Severe rent burden
- 11% of renters
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
- Predominantly White (72%)
- Race & ethnicity
- White 72% Hispanic / Latino 13% Two or more races 11% Black 8% Asian 3%
- Hispanic origin (detail)
- Mexican 3% Dominican 2%
- Common ancestry
- Romanian 4% Slovak 3% Serbian 2%
- Foreign-born
- 13% · Canada, Jamaica, China
- Languages at home
- 84% English-only · Spanish 11% Other Indo-European 2% Russian/Polish/Slavic 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
- ▼ -384.52%
- Current HPI
- 311.3291
- Rent YoY
- ▼ -0.24%
- 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 |
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Price history
1 event — show timeline
- 2026-05-20 Listed $3,100,000 CANOPYMLS as Distributed by MLS Grid
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…