3209 Lasalle St · Charlotte, NC 28216

$130,000

2 bd · 2.0 ba · 1,413 sqft · SingleFamily public records · 7 Days on market

Built 1948 0.29 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to 3209 Lasalle Street, a charming Charlotte home full of character, opportunity, and convenience. Whether you’re a first-time buyer, investor, or someone looking to put down roots close to the heart of the city, this property offers the perfect blend of comfortand location. Perfect opportunity for an investor or the handy home buyer, who wants to put some equity into their next project! Don’t miss your chance to own a piece of Charlotte in a location that continues to grow in demand. Schedule your showing today!

Key facts

• 0.29 acre lot
• Built 1948
• Listed 7 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residential; One story; Site-built construction; Zoned N1-C; Entry level: main
• Construction: Aluminum and vinyl exterior; Crawl space foundation
• Exterior features: Covered, enclosed front porch

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 9 total rooms; Den with fireplace
• Laundry & utility: Laundry details: Other — see remarks

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $763 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 13.3% 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: Briarwood Academy (math 28% / reading 22%, grade F, #1,101 of 1,410 statewide, top 79%, 655 students, 99% FRL); Ranson Middle (math 12% / reading 18%, grade F, #459 of 475 statewide, top 97%, 817 students, 100% 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 24% at this address vs 44% district-wide (-20 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); 462 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 38% 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 $899 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $37k; list at $130k implies a 251% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $130,000

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.60% ✓
• Cap rate: 13.33%
• Cash-on-cash: 25.14%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $308,034
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3020 Bellaire Dr	0.24mi	3/2.5 (+1)	1,400 (-1%)	15mo	$357,500	$255	68
161 N Smallwood Pl	0.44mi	3/2.0 (+1)	1,385 (-2%)	4mo	$520,000	$375	68
1827 Mcdonald St	0.38mi	3/2.5 (+1)	1,446 (+2%)	13mo	$280,000	$194	60
2908 Bellaire Dr	0.35mi	3/1.5 (+1)	1,337 (-5%)	14mo	$269,000	$201	56
501 Seldon Dr	0.55mi	3/2.0 (+1)	1,294 (-8%)	3mo	$505,000	$390	53
2138 Syracuse Dr	0.44mi	3/2.0 (+1)	1,301 (-8%)	12mo	$315,000	$242	51
124 Lakewood Ave	0.57mi	3/2.0 (+1)	1,465 (+4%)	14mo	$260,750	$178	50
2501 Booker Ave	0.47mi	3/2.0 (+1)	1,288 (-9%)	12mo	$235,000	$182	48
2321 Dundeen St	0.52mi	3/2.0 (+1)	1,204 (-15%)	3mo	$139,000	$115	43
337 Lakewood Ave	0.69mi	3/1.5 (+1)	1,292 (-9%)	6mo	$310,000	$240	41
2101 Russell Ave	0.72mi	3/1.5 (+1)	1,352 (-4%)	13mo	$255,000	$189	41
2325 Sanders Ave	0.58mi	3/2.0 (+1)	1,266 (-10%)	13mo	$276,300	$218	40

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: 17.6%
• Equity multiple: 1.70×
• Total profit: $25,617
• Equity at exit: $19,383

10-year hold

• IRR: 25.4%
• Equity multiple: 3.12×
• Total profit: $77,243
• Equity at exit: $11,240

Cash invested: $36,400 (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: 462
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$682
• Tax from tax record: −$147 /mo · $1,760/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $763

Break-even live

Break-even rent $1,117

Max offer price $130,000

Occupancy floor 58%

Sensitivity live

Price	-10% $836	-5% $799	+0% $763	+5% $726	+10% $689
Rent	-10% $598	-5% $680	+0% $763	+5% $845	+10% $927
Rate	-1.0pp $828	-0.5pp $796	base $763	+0.5pp $729	+1.0pp $695

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3221 Lasalle St Charlotte, NC	3.0	2.0	1110	$1,773	$1.60	25d	1	0.03mi
2715 Dundeen St Charlotte, NC	2.0	1.0	900	$1,200	$1.33	25d	1	0.24mi
2700 Pitts Dr Charlotte, NC	2.0	1.0	900	$1,315	$1.46	25d	1	0.25mi
3016 Colfax St Charlotte, NC	3.0	1.0	1066	$1,495	$1.40	17d	1	0.28mi
2827 Burbank Dr Charlotte, NC	3.0	1.0	1000	$1,495	$1.50	16d	1	0.38mi
124 Judson Ave Charlotte, NC	1.0	1.0	1560	$1,045	$0.67	25d	1	0.38mi
2635 W Trade St Charlotte, NC	3.0–4.0	3.5	1723	$2,425	$1.41	9d	6	0.42mi
2508 Booker Ave Charlotte, NC	3.0	2.0	1183	$1,995	$1.69	15d	1	0.42mi
4139 Walking Ridge Rd Charlotte, NC	3.0	2.5	1617	$2,300	$1.42	25d	1	0.43mi
309 Centre St Charlotte, NC	3.0	2.5	1579	$1,895	$1.20	25d	1	0.47mi
3115 Southwest Blvd Charlotte, NC	2.0–3.0	1.0–2.0	999	$1,075	$1.08	25d	1	0.49mi
142 Mattoon St Charlotte, NC	3.0	3.5	1846	$2,800	$1.52	15d	1	0.52mi
144 Mattoon St Charlotte, NC	3.0	3.5	1846	$2,700	$1.46	15d	1	0.52mi
144 Mattoon St Charlotte, NC	3.0	3.5	1846	$2,700	$1.46	15d	1	0.52mi
3311 Rozzelles Ferry Rd Unit 104 Charlotte, NC	3.0	2.0	1160	$1,601	$1.38	6d	1	0.54mi
3311 Rozzelles Ferry Rd Unit 101 Charlotte, NC	2.0	2.0	918	$1,456	$1.59	17d	1	0.54mi
2743 Rozzelles Ferry Rd Charlotte, NC	3.0	3.5	1673	$2,899	$1.73	25d	1	0.57mi
637 Ethridge Pl Charlotte, NC	3.0	3.5	1572	$2,096	$1.33	0d	12	0.57mi
2146 Caldera St Charlotte, NC	3.0	3.5	1617	$3,299	$2.04	25d	1	0.57mi
2741 Rozzelles Ferry Rd Charlotte, NC	3.0	3.5	1673	$2,899	$1.73	25d	1	0.57mi
2227 Celia Ave Charlotte, NC	3.0	2.0	1236	$2,000	$1.62	11d	1	0.57mi
2136 Caldera St Charlotte, NC	3.0	3.5	1617	$3,299	$2.04	25d	1	0.58mi
2132 Caldera St Charlotte, NC	3.0	3.5	1617	$3,299	$2.04	25d	1	0.58mi
212 Mattoon St Charlotte, NC	3.0	3.5	1832	$2,525	$1.38	23d	1	0.58mi
2116 Caldera St Charlotte, NC	3.0	3.5	1617	$3,299	$2.04	25d	1	0.59mi
2701 Rozzelles Ferry Rd Charlotte, NC	3.0	4.0	1617	$2,499	$1.55	25d	1	0.59mi
2713 Rozzelles Ferry Rd Charlotte, NC	3.0	3.5	1673	$2,899	$1.73	25d	1	0.60mi
2004 Caldera St Charlotte, NC	3.0	3.5	1617	$3,299	$2.04	25d	1	0.63mi
2623 Rozzelles Ferry Rd Charlotte, NC	3.0	3.5	1617	$3,299	$2.04	17d	1	0.64mi
1407 Fairmont St Charlotte, NC	2.0	1.0	1000	$1,465	$1.47	9d	1	0.70mi
2244 English Dr Charlotte, NC	3.0	1.0	962	$1,550	$1.61	25d	1	0.72mi
214 S Gardner Ave Charlotte, NC	2.0	1.0	930	$1,650	$1.77	6d	1	0.75mi
517 N Linwood Ave Charlotte, NC	3.0	2.0	1154	$1,973	$1.71	17d	1	0.83mi
2544 Abelwood Rd Charlotte, NC	3.0	1.0	975	$1,495	$1.53	25d	1	0.84mi
550 Beatties Ford Rd Charlotte, NC	3.0	3.5	1627	$2,295	$1.41	25d	1	0.85mi
546 Beatties Ford Rd Charlotte, NC	3.0	3.5	1664	$2,165	$1.30	25d	1	0.86mi
542 Beatties Ford Rd Charlotte, NC	3.0	3.5	1664	$2,165	$1.30	25d	1	0.86mi
538 Beatties Ford Rd Charlotte, NC	3.0	3.5	1664	$2,165	$1.30	25d	1	0.86mi
534 Beatties Ford Rd Charlotte, NC	3.0	3.5	1664	$2,195	$1.32	25d	1	0.86mi
528 Beatties Ford Rd Charlotte, NC	3.0	3.5	1664	$2,195	$1.32	25d	1	0.86mi

Listing history 2 events

1. 2026-05-22
   listed $130,000 Active
2. 1997-07-21
   soldstatus $37,000

ⓘ 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: $1,760 · $147/mo
• Projected year-2 tax: $1,760 · $147/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°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: $24,990
• − Mortgage interest: −$7,282
• − Property taxes: −$1,760
• − Insurance: −$650
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$3,782
• Taxable income: $7,518
• Est. tax owed @ 24.0%: −$1,804
• After-tax cash flow: $7,347/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

+251.4% since first listed

2 events — show timeline

• 2026-05-22 Listed $130,000 CANOPYMLS as Distributed by MLS Grid
• 1997-07-21 Sold (Public Records) $37,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,760 · +2.4% YoY. Source: county tax records.