7033 Brightwork Ln · Charlotte, NC 28269

$243,000

3 bd · 2.5 ba · 1,568 sqft · Townhouse public records · 61 Days on market

Built 2020 1,742 sqft lot Est $301k · 19% under $143/mo HOA · 7% 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).

• ARV discount +15.0/15.0
• Cash flow +11.2/30.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss 7033 Brightwork Ln. , a residence with a straightforward, functional layout designed for ease of use. The residence includes a kitchen island, which provides additional surface area and serves as a central point for meal preparation and various activities within the culinary area. This focal point enhances the utility of the space without compromising accessibility. This home is a testament to functional design and practical living. Included 100-Day Home Warranty with buyer activation

Key facts

• Kitchen island
• $143 HOA
• Garage

Tags

• KITCHEN ISLAND

Property features AI

Finance

• HOA & community: Mandatory HOA managed by Superior Management; Monthly association fee of $143

Exterior

• Parking: Attached garage with one garage space; One open parking space; Driveway parking
• Utilities: Public water; Public sewer
• Home design: Residential townhouse; Site-built construction; Three levels
• Construction: Vinyl exterior; Composition roof; Slab foundation
• Exterior features: Concrete and other road surfaces; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: Three bedrooms (all on upper level)
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: 10 total rooms; Entry level is the 3rd floor
• Laundry & utility: Laundry on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $243k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (16.7% below list).
• Recommended offer: $202k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: 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: Statesville Road Elementary (math 12% / reading 21%, grade F, #1,307 of 1,410 statewide, top 93%, 456 students, 99% 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 25% at this address vs 44% district-wide (-19 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 flat; 569 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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 61 days — a 6% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $42k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% 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 $202,342 (16.7% 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 61 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.83% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.66%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $301,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6109 Carrick Bend Ct	0.24mi	3/2.5	1,576 (+0%)	1mo	$291,000	$185	88
7012 Capstan Ter	0.20mi	3/2.5	1,576 (+0%)	5mo	$288,000	$183	85
8013 Sinnet Pl	0.25mi	3/2.5	1,576 (+0%)	4mo	$285,000	$181	84
7118 Capstan Ter	0.24mi	3/2.5	1,567 (-0%)	6mo	$302,045	$193	84
8021 Sinnet Pl	0.24mi	3/2.5	1,567 (-0%)	7mo	$302,000	$193	83
8027 Sinnet Pl	0.23mi	3/2.5	1,567 (-0%)	8mo	$301,500	$192	82
8009 Sinnet Pl	0.25mi	3/2.5	1,576 (+0%)	7mo	$295,765	$188	82
8035 Sinnet Pl	0.23mi	3/2.5	1,576 (+0%)	9mo	$295,070	$187	81
7133 Capstan Ter	0.26mi	3/2.5	1,576 (+0%)	7mo	$276,000	$175	81
2046 Mcdonald Dr	0.56mi	3/2.5	1,540 (-2%)	1mo	$325,000	$211	70
2013 Mcdonald Dr	0.55mi	3/2.5	1,551 (-1%)	8mo	$299,500	$193	66
2017 Mcdonald Dr	0.56mi	3/2.5	1,551 (-1%)	8mo	$299,700	$193	65

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 · 0.43% rent growth · sell at horizon

5-year hold

• IRR: -22.0%
• Equity multiple: 0.26×
• Total profit: $-50,447
• Equity at exit: $36,232

10-year hold

• IRR: -23.8%
• Equity multiple: -0.05×
• Total profit: $-71,390
• Equity at exit: $21,010

Cash invested: $68,040 (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 28269

• Home prices YoY: -19.9%
• Rents YoY: 0.4%
• Active inventory: 569
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,023 high
• Mortgage (P&I): −$1,274
• Tax from tax record: −$174 /mo · $2,091/yr
• Insurance: −$101
• HOA: −$143
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-94

Break-even live

Break-even rent $2,143

Max offer price $226,337

Occupancy floor 100%

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: $60,750
• Closing costs: $7,290
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8036 Lanyard Ter Charlotte, NC	3.0	2.5	1591	$1,900	$1.19	11d	1	0.03mi
8036 Lanyard Ter Unit 1 Charlotte, NC	3.0	2.0	1568	$1,900	$1.21	10d	1	0.03mi
5044 Downhaul Dr Charlotte, NC	4.0	2.5	2128	$2,500	$1.17	16d	1	0.10mi
2409 Fathom Way Charlotte, NC	3.0	2.5	1565	$1,699	$1.09	23d	1	0.10mi
7024 Capstan Ter Charlotte, NC	3.0	2.5	1567	$2,150	$1.37	16d	1	0.21mi
6126 Carrick Bend Ct Unit 1 Charlotte, NC	3.0	2.5	1576	$1,989	$1.26	23d	1	0.25mi
6126 Carrick Bend Ct Charlotte, NC	3.0	2.5	1576	$1,989	$1.26	7d	1	0.25mi
6126 Carrick Bend Ct Unit 1 Charlotte, NC	3.0	2.5	1576	$1,985	$1.26	7d	1	0.25mi
7132 Capstan Ter Charlotte, NC	3.0	2.0	1700	$1,995	$1.17	23d	1	0.26mi
6145 Carrick Bend Ct Charlotte, NC	3.0	2.5	1520	$2,200	$1.45	23d	1	0.27mi
1917 Butterfly Ln Charlotte, NC	3.0	2.0	1579	$1,750	$1.11	23d	1	0.31mi
1840 Juniper Dr Charlotte, NC	4.0	2.5	1930	$2,150	$1.11	16d	1	0.33mi
2315 Portola Ct Charlotte, NC	4.0	2.5	1759	$2,100	$1.19	21d	1	0.41mi
5313 Abbywood Ln Charlotte, NC	3.0	2.0	1120	$1,650	$1.47	16d	1	0.49mi
3107 Meadow Knoll Dr Charlotte, NC	3.0	2.5	1577	$2,100	$1.33	23d	1	0.50mi
2308 Juniper Dr Charlotte, NC	4.0	2.5	1305	$1,799	$1.38	16d	1	0.59mi
6202 Suntrace Way Charlotte, NC	3.0	2.0	1185	$1,965	$1.66	4d	1	0.66mi
5823 Hamilton Oaks Dr Charlotte, NC	3.0	2.0	1074	$1,640	$1.53	4d	1	1.03mi
3801 Davis Ln Charlotte, NC	3.0	2.0	1160	$1,815	$1.56	2d	1	1.05mi
3510 Cypress Pond Dr Charlotte, NC	3.0	1.0	1098	$1,700	$1.55	23d	1	1.19mi
4920 Tanager Park Dr Charlotte, NC	3.0	1.0–2.0	844	$1,674	$1.98	1d	80	1.38mi
412 Bent Leaf Ct Charlotte, NC	3.0	2.5	1300	$1,789	$1.38	7d	1	1.42mi
3310 Bell Glen Ct Charlotte, NC	3.0	2.0	1294	$1,845	$1.43	13d	1	1.45mi

HOA detail

• Monthly dues: $143 · $1,716/yr

Listing history 18 events

1. 2026-06-15
   status $243,000 Pending 61 DOM
2. 2026-06-15
   days on market $243,000 Active 61 DOM
3. 2026-06-13
   pricedays on market $243,000 Active 59 DOM
4. 2026-06-10
   days on market $255,000 Active 55 DOM
5. 2026-06-08
   days on market $255,000 Active 54 DOM
6. 2026-06-07
   days on market $255,000 Active 53 DOM
7. 2026-06-04
   days on market $255,000 Active 50 DOM
8. 2026-06-03
   days on market $255,000 Active 49 DOM
9. 2026-06-02
   days on market $255,000 Active 48 DOM
10. 2026-06-02
    days on market $255,000 Active 47 DOM
11. 2026-05-31
    days on market $255,000 Active 46 DOM
12. 2026-05-14
    price $270,000
13. 2026-04-30
    price $280,000
14. 2026-04-15
    listed $285,000 Active
15. 2026-04-02
    soldstatus $285,000
16. 2025-10-07
    price $275,000
17. 2025-09-15
    listed $280,000 Active
18. 2020-10-19
    soldstatus $245,000

ⓘ 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: $2,091 · $174/mo
• Projected year-2 tax: $2,091 · $174/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 · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,281
• − Mortgage interest: −$13,612
• − Property taxes: −$2,091
• − Insurance: −$1,215
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − HOA: −$1,716
• − Depreciation: −$7,069
• Taxable loss: −$5,307
• Est. tax savings @ 24.0%: +$1,274
• After-tax cash flow: $142/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): 79,586
• Household income: $81,517
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 2818.0

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 0.66)
• Race & ethnicity: Black 50% White 27% Hispanic / Latino 15% Two or more races 5% Asian 5%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 79% English-only · Spanish 13% French/Haitian/Cajun 2% Other Asian/Pacific 2%

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: ▼ -62.04%
• Current HPI: 249.6732
• Rent YoY: ▲ 0.43%
• 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

+10.2% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $270,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-30 Price Changed $280,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-15 Listed $285,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Sold (Public Records) $285,000 Public Records
• 2025-10-07 Price Changed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-15 Listed $280,000 CANOPYMLS as Distributed by MLS Grid
• 2020-10-19 Sold (Public Records) $245,000 Public Records

Property tax history

+32.3%/yr

Latest (2025): $2,091 · +1.5% YoY. Source: county tax records.