4601 Coronado Dr · Charlotte, NC 28212

$164,900

3 bd · 2.0 ba · 1,163 sqft · Condo public records · 68 Days on market

Built 1969 $275/mo HOA · 16% 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).

• Cash flow +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take advantage of this opportunity, affordable 2/1 condo unit in Coventry Woods, great starter unit for first time buyer, or investment property. Community amenities includes an outdoor pool, common grounds, Just minutes from Charlotte! close to center city and the future light rail

Key facts

• Sleek backsplash
• Community amenities
• Club pool

Tags

• CLEAN KITCHEN
• SLEEK BACKSPLASH
• MODERN APPLIANCES
• TILED SHOWERS
• COMMUNITY AMENITIES
• CLUB POOL

Property features AI

Finance

• HOA & community: Mandatory HOA managed by Essential Property Management; HOA fee approximately $275.42 per month

Exterior

• Parking: Assigned parking
• Security: Carbon monoxide detector(s)
• Utilities: City water; Public sewer
• Home design: Residential condominium; Site-built construction; One story; Entry level: 1
• Construction: Vinyl exterior; Composition roof; Slab foundation
• Exterior features: Lawn maintenance included; Storage

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Electric range; Microwave
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air; Ceiling fan(s)
• Interior features: 8 total rooms; Carbon monoxide detector(s)
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-9 ($-107/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (1.0% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• 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: 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: Idlewild Elementary (math 36% / reading 40%, grade F, #759 of 1,410 statewide, top 54%, 926 students, 100% FRL); Mcclintock Middle (math 31% / reading 31%, grade F, #326 of 475 statewide, top 69%, 1,079 students, 99% FRL); East Mecklenburg High School (math 59% / reading 70%, grade B-, #164 of 535 statewide, top 32%, 2,409 students, 42% FRL) — zoned schools average 80% FRL vs 49% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-3.0%/yr); 125 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 39% of the median local income ($53k/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 $5k 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 68 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; list at $165k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,006 (6.0% 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 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.7%
• Equity multiple: 0.30×
• Total profit: $-32,104
• Equity at exit: $24,587

10-year hold

• IRR: -24.9%
• Equity multiple: -0.02×
• Total profit: $-47,271
• Equity at exit: $14,258

Cash invested: $46,172 (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 28212

• Rents YoY: -3.0%
• Active inventory: 125
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,696 high
• Mortgage (P&I): −$865
• Tax from tax record: −$141 /mo · $1,688/yr
• Insurance: −$69
• HOA: −$275
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $-9

Break-even live

Break-even rent $1,708

Max offer price $163,330

Occupancy floor 96%

Sensitivity live

Price	-10% $84	-5% $38	+0% $-9	+5% $-56	+10% $-102
Rent	-10% $-143	-5% $-76	+0% $-9	+5% $58	+10% $125
Rate	-1.0pp $74	-0.5pp $33	base $-9	+0.5pp $-52	+1.0pp $-95

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4601 Coronado Dr Unit F Charlotte, NC	2.0	1.0	961	$1,500	$1.56	18d	1	0.02mi
4600 Coronado Dr Unit B Charlotte, NC	3.0	2.0	1165	$1,400	$1.20	25d	1	0.06mi
2901 Iron Gate Ln Charlotte, NC	2.0	2.0	1000	$1,550	$1.55	25d	1	0.14mi
2920 Iron Gate Ln Charlotte, NC	2.0	2.0	992	$1,350	$1.36	0d	1	0.17mi
5230 Firelight Ln Charlotte, NC	2.0	2.0	1129	$1,515	$1.34	22d	5	0.22mi
1522 Woodhill Ln Charlotte, NC	2.0	1.0	875	$1,950	$2.23	25d	1	0.33mi
5600 Paces Glen Ave Charlotte, NC	1.0–3.0	1.0–2.0	942	$1,850	$1.96	25d	1	0.50mi
3421 N Sharon Amity Rd Charlotte, NC	1.0–2.0	1.0	905	$1,400	$1.55	12d	1	0.51mi
5417 Albemarle Rd Charlotte, NC	2.0	2.0	1030	$1,199	$1.16	12d	1	0.52mi
5826 Reddman Rd Charlotte, NC	1.0–2.0	1.0–2.0	822	$1,420	$1.73	7d	14	0.54mi
5336 Unaka Ave Charlotte, NC	3.0	2.0	1235	$3,600	$2.91	25d	1	0.56mi
2309 Lanier Ave Charlotte, NC	3.0	1.5	1055	$2,075	$1.97	9d	1	0.58mi
6734 Knollgate Dr Charlotte, NC	3.0	1.5	1360	$2,600	$1.91	18d	1	0.63mi
5821 Reddman Rd Charlotte, NC	1.0–2.0	1.0–2.0	722	$1,535	$2.12	4d	3	0.64mi
4701 Arching Oak Ln Charlotte, NC	2.0	2.0	911	$1,374	$1.51	7d	7	0.65mi
6147 Winged Elm Ct Charlotte, NC	1.0–3.0	1.0–3.0	1058	$1,874	$1.77	0d	26	0.66mi
5823 Green Forest Dr Charlotte, NC	2.0	2.0	1101	$1,350	$1.23	7d	1	0.74mi
5001 Kistler Ave Charlotte, NC	3.0	2.0	1170	$2,700	$2.31	22d	1	0.75mi
3631 Driftwood Dr Charlotte, NC	2.0	1.0	898	$1,250	$1.39	9d	1	0.78mi
3633 Driftwood Dr Charlotte, NC	2.0	1.0	898	$1,250	$1.39	9d	1	0.78mi
3517 Burner Dr Charlotte, NC	1.0–2.0	1.0–1.5	794	$1,280	$1.61	0d	5	0.79mi
5901 Meadow Hill Dr Charlotte, NC	3.0	2.0	1407	$1,695	$1.20	16d	1	0.81mi
4914 Kistler Ave Charlotte, NC	3.0	1.5	1254	$1,950	$1.56	5d	1	0.83mi
4914 Kistler Ave Charlotte, NC	3.0	1.5	1254	$1,950	$1.56	18d	1	0.83mi
5701 Central Ave Unit B1 Charlotte, NC	2.0	2.0	1105	$2,050	$1.86	25d	1	0.84mi
3929 Winterfield Pl Unit 1 Charlotte, NC	2.0	1.5	849	$1,400	$1.65	23d	1	0.84mi
4009 Connection Point Blvd Charlotte, NC	2.0	2.5	1250	$2,174	$1.74	6d	5	0.85mi
2113 Zephyr Wind Way Charlotte, NC	2.0	2.5	1213	$1,999	$1.65	25d	1	0.85mi
3819 Rosehaven Dr Charlotte, NC	3.0	2.0	1095	$1,625	$1.48	25d	1	0.88mi
5625 Hollyfield Dr Charlotte, NC	1.0–3.0	1.0–2.0	1118	$2,854	$2.55	0d	182	0.88mi
5000 Erickson Rd Charlotte, NC	3.0	2.0	1124	$2,395	$2.13	18d	1	0.89mi
5767 Cedars East Ct Charlotte, NC	1.0–3.0	1.0–2.0	997	$1,515	$1.52	0d	17	0.91mi
4630 Central Ave Charlotte, NC	1.0–2.0	1.0–2.0	804	$1,525	$1.90	23d	1	0.93mi
3741 N Sharon Amity Rd Charlotte, NC	3.0	1.5	1368	$1,750	$1.28	12d	1	0.97mi
5920 Monroe Rd Charlotte, NC	1.0–3.0	1.0–2.0	892	$1,800	$2.02	25d	1	0.98mi
4933 Central Ave Charlotte, NC	1.0–3.0	1.0–2.0	906	$1,783	$1.97	0d	13	0.99mi
3829 N Sharon Amity Rd Charlotte, NC	3.0	1.0	1500	$1,600	$1.07	18d	1	1.03mi
4811 Monroe Rd Charlotte, NC	1.0–2.0	1.0–2.0	912	$1,430	$1.57	3d	4	1.13mi
4501 Central Ave Charlotte, NC	1.0–2.0	1.0	726	$1,300	$1.79	16d	2	1.16mi
4501 Central Ave Charlotte, NC	1.0–2.0	1.0	694	$1,300	$1.87	18d	3	1.16mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-10
   pricedays on market $164,900 Active 68 DOM
2. 2026-06-08
   days on market $169,900 Active 67 DOM
3. 2026-06-07
   days on market $169,900 Active 66 DOM
4. 2026-06-04
   days on market $169,900 Active 63 DOM
5. 2026-06-03
   days on market $169,900 Active 62 DOM
6. 2026-06-02
   days on market $169,900 Active 61 DOM
7. 2026-06-02
   days on market $169,900 Active 60 DOM
8. 2026-05-31
   days on market $169,900 Active 59 DOM
9. 2026-05-16
   price $169,900
10. 2026-04-22
    price $174,900
11. 2026-04-02
    listed $179,900 Active
12. 2025-10-31
    price $179,900
13. 2025-10-30
    price $171,000
14. 2025-10-15
    status Active
15. 2025-10-15
    price $189,000
16. 2025-09-20
    historical $1,350
17. 2025-09-19
    listed $1,350
18. 2025-08-12
    price $182,300
19. 2025-07-30
    price $184,800
20. 2025-07-18
    price $184,900
21. 2025-06-14
    listed $189,900 Active
22. 2020-08-06
    soldstatus $82,500 Closed 284-char remark

    Show marketing remark (284 chars)

    Take advantage of this opportunity, affordable 2/1 condo unit in Coventry Woods, great starter unit for first time buyer, or investment property. Community amenities includes an outdoor pool, common grounds, Just minutes from Charlotte! close to center city and the future light rail

23. 2020-07-10
    status Pending 284-char remark

    Show marketing remark (284 chars)

    Take advantage of this opportunity, affordable 2/1 condo unit in Coventry Woods, great starter unit for first time buyer, or investment property. Community amenities includes an outdoor pool, common grounds, Just minutes from Charlotte! close to center city and the future light rail

24. 2020-07-09
    listed $85,000 Active 284-char remark

    Show marketing remark (284 chars)

    Take advantage of this opportunity, affordable 2/1 condo unit in Coventry Woods, great starter unit for first time buyer, or investment property. Community amenities includes an outdoor pool, common grounds, Just minutes from Charlotte! close to center city and the future light rail

25. 2020-07-02
    historical $85,000 284-char remark

    Show marketing remark (284 chars)

    Take advantage of this opportunity, affordable 2/1 condo unit in Coventry Woods, great starter unit for first time buyer, or investment property. Community amenities includes an outdoor pool, common grounds, Just minutes from Charlotte! close to center city and the future light rail

26. 2007-09-18
    soldstatus $68,000
27. 2006-05-16
    soldstatus $65,000
28. 1989-05-01
    soldstatus $44,000
29. 1985-07-01
    soldstatus $43,000

ⓘ 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: $1,688 · $141/mo
• Projected year-2 tax: $1,688 · $141/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $20,358
• − Mortgage interest: −$9,237
• − Property taxes: −$1,688
• − Insurance: −$824
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − HOA: −$3,300
• − Depreciation: −$4,797
• Taxable loss: −$2,746
• Est. tax savings @ 24.0%: +$659
• After-tax cash flow: $552/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): 42,440
• Household income: $52,723
• Rent vs Own: 62.0% rent · 38.0% own
• Severe rent burden: 2550.0

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 39% Hispanic / Latino 32% White 18% Two or more races 12% Asian 8% Native American 1%
• Hispanic origin (detail): Mexican 14% Dominican 2%
• Common ancestry: Serbian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 29% · Canada, Philippines, Jamaica
• Languages at home: 60% English-only · Spanish 29% Other Indo-European 3% Other Asian/Pacific 3%

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: ▼ -268.88%
• Current HPI: 317.7088
• Rent YoY: ▼ -3.02%
• 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

+295.1% since first listed

21 events — show timeline

• 2026-05-16 Price Changed $169,900 CANOPYMLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $174,900 CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Listed $179,900 CANOPYMLS as Distributed by MLS Grid
• 2025-10-31 Price Changed $179,900 CANOPYMLS as Distributed by MLS Grid
• 2025-10-30 Price Changed $171,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-15 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-10-15 Price Changed $189,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-20 Rental Removed $1,350 APPFOLIO
• 2025-09-19 Listed for Rent $1,350 APPFOLIO
• 2025-08-12 Price Changed $182,300 CANOPYMLS as Distributed by MLS Grid
• 2025-07-30 Price Changed $184,800 CANOPYMLS as Distributed by MLS Grid
• 2025-07-18 Price Changed $184,900 CANOPYMLS as Distributed by MLS Grid
• 2025-06-14 Listed $189,900 CANOPYMLS as Distributed by MLS Grid
• 2020-08-06 Sold (MLS) $82,500 CANOPYMLS as Distributed by MLS Grid
• 2020-07-10 Pending — CANOPYMLS as Distributed by MLS Grid
• 2020-07-09 Listed $85,000 CANOPYMLS as Distributed by MLS Grid
• 2020-07-02 Coming Soon $85,000 CANOPYMLS as Distributed by MLS Grid
• 2007-09-18 Sold (Public Records) $68,000 Public Records
• 2006-05-16 Sold (Public Records) $65,000 Public Records
• 1989-05-01 Sold (Public Records) $44,000 Public Records
• 1985-07-01 Sold (Public Records) $43,000 Public Records

Property tax history

+10.1%/yr

Latest (2025): $1,688 · +6.4% YoY. Source: county tax records.