3500 N Sharon Amity Rd · Charlotte, NC 28205

$2,650,000

1 bd · 400.0 ba · 3,131 sqft · MultiFamily public records · 78 Days on market

Built 1962 1.23 ac lot

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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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Presenting an exceptional value-add multifamily investment opportunity located at 3500 North Sharon Amity Road in the rapidly expanding East Charlotte submarket. This highly efficient 20-unit asset consists entirely of desirable 1-bedroom, 1-bathroom floor plans, catering perfectly to the area's growing demographic of young professionals seeking affordable proximity to Charlotte's urban core. Owned and maintained by the same owner for decades, the property features a proven, organic value-add program where interior renovations have been successfully executed over the last decade as units turn over, effectively proving out the post-renovation rent premiums. Strategically positioned just minu

Key facts

• Interior renovations
• 20 unit asset
• 1.23 acre lot

Tags

• 20 UNIT ASSET
• 1 BEDROOM FLOOR PLANS
• INTERIOR RENOVATIONS
• HIGH VISIBILITY FRONTAGE
• DENSE LOCAL DEMOGRAPHICS

Property features AI

Finance

• Other: No pet allowance (pets not allowed)
• Financial info: Owner pays exterior maintenance, management, sewer, trash collection, and water; Tenants pay cable TV and electricity
• HOA & community: No HOA

Exterior

• Parking: Parking lot
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: City water; Public sewer; Cable available; Electricity connected
• Home design: Residential income property; Fiveplex (property sub-type)
• Construction: Site-built construction; Full brick exterior; Crawl space foundation
• Exterior features: Corner lot; Green area; Level lot; Paved surfaces; Sidewalks; Street lights

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 20 bedrooms (total across property)
• Flooring: Tile; Vinyl; Wood
• Bathrooms: 20 full bathrooms (total across property)
• Heating & cooling: Electric heating; Natural gas heating; Separate meters for units; Wall furnace(s); Ceiling fans; Wall-mounted cooling units
• Interior features: Open floorplan; Pantry; Insulated windows; Storm door(s); Carbon monoxide and smoke detectors
• Laundry & utility: No on-site laundry features listed; Electric water heater

What this means for you Summary

Snapshot

• This is a 20 × 1-bed/?-bath units multifamily listed at $2.65M.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $143/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.35M (11.5% below list).
• Recommended offer: $2.35M (11.5% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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); Garinger High School (math 47% / reading 25%, grade F, #424 of 535 statewide, top 79%, 1,677 students, 100% FRL) — zoned schools average 100% FRL vs 49% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.7%/yr); 434 active listings in the ZIP; solid renter incomes; 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).
• At $23,453/mo this rent would consume 372% of the median local household income ($76k/yr) (locally 3141% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $18k of loan paydown is wiped out by about $80k 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 78 days — a 6% lower offer ($2.49M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.

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 $2,345,300 (11.5% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.89% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.64%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.66% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.62×
• Total profit: $-279,256
• Equity at exit: $395,124

10-year hold

• IRR: -2.9%
• Equity multiple: 0.81×
• Total profit: $-137,821
• Equity at exit: $229,124

Cash invested: $742,000 (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 28205

• Rents YoY: 1.7%
• Active inventory: 434
• Price-to-rent: 188.3×

Monthly cashflow live

• Estimated rent: $23,453 high
• Mortgage (P&I): −$13,897
• Tax from tax record: −$659 /mo · $7,910/yr
• Insurance: −$1,104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,925
• Net cashflow: $2,868

Break-even live

Break-even rent $19,823

Max offer price $2,650,000

Occupancy floor 83%

Sensitivity live

Price	-10% $4,368	-5% $3,618	+0% $2,868	+5% $2,118	+10% $1,368
Rent	-10% $1,015	-5% $1,941	+0% $2,868	+5% $3,794	+10% $4,720
Rate	-1.0pp $4,202	-0.5pp $3,542	base $2,868	+0.5pp $2,181	+1.0pp $1,482

20-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 20× units	1	—	$23,460
Total (20 units)			$23,453

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: $662,500
• Closing costs: $79,500
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $2,650,000 Active 78 DOM
2. 2026-06-18
   days on market $2,650,000 Active 75 DOM
3. 2026-06-17
   days on market $2,650,000 Active 74 DOM
4. 2026-06-16
   days on market $2,650,000 Active 73 DOM
5. 2026-06-15
   days on market $2,650,000 Active 72 DOM
6. 2026-06-13
   days on market $2,650,000 Active 70 DOM
7. 2026-06-10
   days on market $2,650,000 Active 66 DOM
8. 2026-06-08
   days on market $2,650,000 Active 65 DOM
9. 2026-06-07
   days on market $2,650,000 Active 64 DOM
10. 2026-06-04
    days on market $2,650,000 Active 61 DOM
11. 2026-06-03
    days on market $2,650,000 Active 60 DOM
12. 2026-06-02
    days on market $2,650,000 Active 59 DOM
13. 2026-06-02
    days on market $2,650,000 Active 58 DOM
14. 2026-05-31
    days on market $2,650,000 Active 57 DOM
15. 2026-04-04
    listed $2,650,000 Active
16. 2025-07-14
    historical $1,000
17. 2025-02-08
    listed $1,000
18. 2024-10-10
    historical $1,000
19. 2024-09-12
    listed $1,000
20. 2024-09-12
    historical $1,000
21. 2024-08-21
    listed $1,000
22. 2024-01-05
    historical $1,000
23. 2023-08-06
    listed $1,000
24. 2023-06-03
    historical

ⓘ 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: $7,910 · $659/mo
• Projected year-2 tax: $21,730 · $1,811/mo
• Expected delta: +$13,820/yr (+$1,152/mo · 174.7%)

ⓘ 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: $281,436
• − Mortgage interest: −$148,441
• − Property taxes: −$7,910
• − Insurance: −$13,250
• − Repairs & maintenance: −$22,515
• − Management: −$22,515
• − Depreciation: −$77,091
• Taxable loss: −$10,286
• Est. tax savings @ 24.0%: +$2,469
• After-tax cash flow: $36,880/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): 51,806
• Household income: $75,622
• Rent vs Own: 57.5% rent · 42.5% own
• Severe rent burden: 3141.0

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 0.69)
• Race & ethnicity: White 45% Black 24% Hispanic / Latino 22% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 20% · Canada, Vietnam
• Languages at home: 74% English-only · Spanish 17% Vietnamese 2% Other Asian/Pacific 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: ▼ -689.14%
• Current HPI: 341.839
• Rent YoY: ▲ 1.66%
• 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

+264900.0% since first listed

10 events — show timeline

• 2026-04-04 Listed $2,650,000 CANOPYMLS as Distributed by MLS Grid
• 2025-07-14 Rental Removed $1,000 LEASESTAR
• 2025-02-08 Listed for Rent $1,000 LEASESTAR
• 2024-10-10 Rental Removed $1,000 LEASESTAR
• 2024-09-12 Listed for Rent $1,000 LEASESTAR
• 2024-09-12 Rental Removed $1,000 LEASESTAR
• 2024-08-21 Listed for Rent $1,000 LEASESTAR
• 2024-01-05 Rental Removed $1,000 LEASESTAR
• 2023-08-06 Listed for Rent $1,000 LEASESTAR
• 2023-06-03 Rental Removed — LEASESTAR

Property tax history

+1.7%/yr

Latest (2021): $7,910 · +4.6% YoY. Source: county tax records.