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513 N Graham St
D Composite 41.43
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
  • Appreciation +5.8/10.0
  • Schools +4.0/10.0
  • Livability +3.9/5.0
  • Condition / age +3.8/5.0
  • Cash flow +3.6/30.0
  • 1% rule +3.6/10.0
  • Rent growth +1.7/5.0
  • DSCR +0.0/10.0

$159,000

513 N Graham St · Charlotte, NC 28202
1 bd · 1.0 ba · 630 sqft · Townhouse · 45 Days on market
Built 1990 Good condition 3,484 sqft lot $252/sqft · 27% below area Est $219k · 27% under $458/mo HOA · 33% of rent ↓ 12% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Top-floor 1-bedroom, 1-bath condo in sought-after Fourth Ward Square, just minutes from Uptown Charlotte! This light-filled unit features large windows with beautiful city views and a well-designed layout that maximizes space and comfort. The living area showcases laminate wood flooring, a cozy wood-burning fireplace, and built-in bookshelves—perfect for both relaxing and entertaining. The kitchen offers granite countertops, tile flooring, and a functional layout, while the bedroom also features laminate flooring and a spacious walk-in closet. Tile flooring continues in the bathroom for easy maintenance.

Key facts

  • Built-in bookshelves
  • Granite countertops
  • $458 HOA

Tags

LAMINATE WOOD FLOORINGWOOD-BURNING FIREPLACEBUILT-IN BOOKSHELVESGRANITE COUNTERTOPSSPACIOUS WALK-IN CLOSETASSIGNED PARKING SPACE

Neighborhood map

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 1-bed/1.0-bath townhouse listed at $159k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-471 ($-6k/yr) — negative.
  • To cash-flow at today's rent, offer at most $91k (42.9% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (13.6% below list).
  • Recommended offer: $91k (42.9% below list) — sets the bar for cash-flow.

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); Sedgefield Middle (math 33% / reading 38%, grade F, #279 of 475 statewide, top 60%, 501 students, 99% FRL); Myers Park High School (math 81% / reading 75%, grade A-, #85 of 535 statewide, top 16%, 3,593 students, 26% FRL) — zoned schools average 75% FRL vs 49% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
  • Market conditions: Rents falling (-3.3%/yr); 233 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).
  • This rent is only 16% of the median local income ($106k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

  • In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.6% local appreciation)).
  • Mecklenburg County population projected at +53% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
  • By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

  • It's been on market 45 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: HOA is 33% of rent.
  • Climate carrying-cost: moderate wind risk, 25% 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 $90,815 (42.9% 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 45 days. Have you received any prior offers? Is the seller open to a 43% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  5. 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?
  6. 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?
  7. 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?
  8. 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.
  9. 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.
  10. 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
0.86% ✗
Cap rate
2.74%
Cash-on-cash
-12.70%
DSCR
0.43
GRM
9.6

CMA / ARV

ARV (median comp)
$219,177
List price
$159,000
Delta
-27.46%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
505 N Graham St Unit 3E 0.03mi 1/1.0 580 (-8%) 4mo $195,000 $336 82
525 N Graham St Unit 2F 0.05mi 1/1.0 688 (+9%) 4mo $193,000 $281 79
300 W 5th St #546 0.23mi 1/1.0 590 (-6%) 1mo $269,900 $457 78
300 W 5th St #617 0.23mi 1/1.0 675 (+7%) 0mo $277,000 $410 77
715 N Church St #816 0.36mi 1/1.0 648 (+3%) 5mo $350,000 $540 74
715 N Church St #214 0.36mi 1/1.0 684 (+9%) 0mo $287,500 $420 69
210 N Church St #2405 0.39mi 1/1.0 668 (+6%) 7mo $326,000 $488 66
300 W 5th St #339 0.30mi 1/1.0 688 (+9%) 7mo $280,000 $407 65
300 W 5th St #333 0.30mi 1/1.0 715 (+14%) 7mo $275,000 $385 58
333 W Trade St #2603 0.40mi 1/1.0 718 (+14%) 2mo $312,000 $435 57
210 N Church St #2708 0.39mi 1/1.0 723 (+15%) 2mo $317,000 $438 56
230 S Tryon St #603 0.59mi 1/1.0 541 (-14%) 6mo $263,000 $486 44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.59% appreciation · 0.0% rent growth · sell at horizon

5-year hold
IRR
-11.4%
Equity multiple
0.41×
Total profit
$-26,128
Equity at exit
$59,211
10-year hold
IRR
-7.1%
Equity multiple
0.10×
Total profit
$-40,024
Equity at exit
$82,651

Cash invested: $44,520 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
60 active · 25 under contract
Months of supply
15.7 mo (6%/mo absorbed)
Median asking
$277,450 ($421/sqft)
Median days on market
91 d
This list price
lowest-priced of the active set
ARV vs active asking
-17.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28202

Home prices YoY
0.8%
Rents YoY
-3.3%
Active inventory
233
Price-to-rent
9.6×

Monthly cashflow live

Estimated rent
$1,374 high interval (Pro) →
Mortgage (P&I)
−$834
Tax est. 1.5%
−$199 /mo · $2,385/yr
Insurance
−$66
HOA
−$458
Vacancy / Maint / Mgmt
−$289
Net cashflow
$-471

Break-even live

Break-even rent $1,971
Max offer price $90,815
Occupancy floor —

Sensitivity live

Price -10% $-361 -5% $-416 +0% $-471 +5% $-526 +10% $-581
Rent -10% $-580 -5% $-525 +0% $-471 +5% $-417 +10% $-363
Rate -1.0pp $-391 -0.5pp $-431 base $-471 +0.5pp $-512 +1.0pp $-554

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
$39,750
Closing costs
$4,770
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.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
505 N Graham St Unit 1A Charlotte, NC 1.0 1.0 523 $1,195 $2.28 10d 1 0.03mi
415 W 8th St Apt E Charlotte, NC 2.0 1.0 720 $1,395 $1.94 148d 1 0.10mi
406 W 9th St #303 Charlotte, NC 1.0 1.0 501 $1,015 $2.03 22d 1 0.12mi
406 W 9th St #102 Charlotte, NC 1.0 1.0 650 $1,025 $1.58 22d 1 0.12mi
406 W 9th St #101 Charlotte, NC 1.0 1.0 501 $1,015 $2.03 38d 1 0.12mi
406 W 9th St #203 Charlotte, NC 1.0 1.0 501 $1,149 $2.29 148d 1 0.12mi
406 W 9th St #102 Charlotte, NC 1.0 1.0 650 $1,025 $1.58 10d 1 0.12mi
406 W 9th St #204 Charlotte, NC 1.0 1.0 650 $1,625 $2.50 22d 1 0.12mi
406 W 9th St Charlotte, NC 1.0 1.0 501 $1,049 $2.09 47d 1 0.12mi
406 W 9th St #102 Charlotte, NC 1.0 1.0 650 $1,025 $1.58 13d 1 0.12mi
406 W 9th St #101 Charlotte, NC 1.0 1.0 501 $1,015 $2.03 19d 1 0.12mi
406 W 9th St Charlotte, NC 1.0 1.0 650 $1,050 $1.62 23d 1 0.12mi
406 W 9th St #302 Charlotte, NC 1.0 1.0 501 $1,595 $3.18 38d 1 0.12mi
312 N Graham St Charlotte, NC 3.0 1.0–2.0 1125 $2,216 $1.97 0d 56 0.13mi
305 N Graham St Charlotte, NC 1.0–2.0 1.0–2.0 883 $1,335 $1.51 0d 2 0.13mi
415 W 10th St Unit 415-4B Charlotte, NC 1.0 1.0 670 $1,195 $1.78 145d 1 0.16mi
415 W 10th St Unit 1B Charlotte, NC 1.0 1.0 670 $1,195 $1.78 164d 1 0.16mi
415 W 10th St Unit 415-2B Charlotte, NC 1.0 1.0 670 $1,195 $1.78 72d 1 0.16mi
415 W 10th St Charlotte, NC 1.0 1.0 670 $1,195 $1.78 10d 1 0.16mi
415 W 10th St Unit 41512-B Charlotte, NC 1.0 1.0 670 $1,199 $1.79 164d 1 0.16mi
514 W 10th St Charlotte, NC 1.0 1.0 494 $1,100 $2.23 3d 1 0.17mi
520 W 5th St Charlotte, NC 2.0 1.0–2.0 938 $1,729 $1.84 0d 15 0.21mi
229 N Poplar St Charlotte, NC 1.0 1.0 619 $1,450 $2.34 164d 1 0.23mi
215 N Pine St Charlotte, NC 3.0 1.0–3.5 1894 $4,397 $2.32 0d 35 0.23mi
300 W 5th St Charlotte, NC 1.0 1.0 754 $1,772 $2.35 1d 3 0.25mi
300 W 5th St Charlotte, NC 1.0–2.0 1.0–2.0 965 $1,650 $1.71 12d 3 0.25mi
300 W 5th St Charlotte, NC 1.0 1.0 728 $2,012 $2.76 72d 4 0.25mi
300 W 5th St Charlotte, NC 1.0–2.0 1.0–2.0 965 $1,695 $1.76 36d 4 0.25mi
300 W 5th St Charlotte, NC 1.0–2.0 1.0–2.0 876 $1,600 $1.83 145d 5 0.25mi
515 N Church St Charlotte, NC — 1.0 523 $1,345 $2.57 148d 1 0.25mi
515 N Church St #204 Charlotte, NC 1.0 2.0 651 $1,399 $2.15 75d 1 0.25mi
500 W Trade St Charlotte, NC 3.0 1.0–2.0 1071 $2,418 $2.26 0d 34 0.28mi
735 W 5th St Charlotte, NC 2.0 1.0–2.0 813 $1,430 $1.76 0d 10 0.32mi
225 N Cedar St Charlotte, NC 1.0–2.0 1.0–2.0 903 $1,366 $1.51 10d 3 0.33mi
640 N Church St Charlotte, NC 3.0 1.0–3.0 1047 $1,524 $1.45 0d 19 0.33mi
606 Nc Music Factory Blvd Charlotte, NC 1.0 1.0 732 $2,001 $2.73 0d 24 0.34mi
715 N Church St #212 Charlotte, NC 1.0 1.0 647 $1,350 $2.09 51d 1 0.34mi
715 N Church St Charlotte, NC 1.0 1.0 530 $1,100 $2.08 139d 1 0.34mi
715 N Church St #607 Charlotte, NC 1.0 1.0 540 $1,100 $2.04 164d 1 0.34mi
715 N Church St Unit 1367387P Charlotte, NC 1.0 1.0 645 $2,879 $4.46 1d 1 0.34mi

Property features AI

Finance

HOA & community
HOA managed by Real ManageMonthly HOA fee of $458ClubhouseFitness centerOutdoor poolPicnic area

Exterior

Parking
1 assigned parking space (Parking Space #59)Assigned parking with shared driveway
Utilities
City waterPublic sewerElectric service
Home design
Condominium (mid-rise)Entry level is 3One story
Construction
Site-built constructionWood construction materialsComposition roofSlab foundationBuilt on a 0.08-acre lot
Exterior features
Concrete and paved roadsPrivate maintained road

Interior

Kitchen
DishwasherDisposalElectric ovenElectric rangeMicrowaveSelf-cleaning ovenElectric water heater
Bedrooms
1 bedroom on the main level
Flooring
LaminateTile
Bathrooms
1 full bathroom on the main level
Heating & cooling
Heat pumpCentral airCeiling fan(s)
Interior features
Insulated windows5 total roomsLiving room fireplace (wood burning)
Laundry & utility
Laundry closet

Listing history 33 events

  1. 2026-10-29
    days on market $159,000 Active 45 DOM
  2. 2026-10-28
    days on market $159,000 Active 44 DOM
  3. 2026-10-27
    days on market $159,000 Active 43 DOM
  4. 2026-10-26
    days on market $159,000 Active 42 DOM
  5. 2026-10-25
    days on market $159,000 Active 41 DOM
  6. 2026-10-24
    days on market $159,000 Active 40 DOM
  7. 2026-10-23
    days on market $159,000 Active 39 DOM
  8. 2026-10-22
    days on market $159,000 Active 38 DOM
  9. 2026-10-21
    days on market $159,000 Active 37 DOM
  10. 2026-10-20
    days on market $159,000 Active 36 DOM
  11. 2026-10-19
    days on market $159,000 Active 35 DOM
  12. 2026-10-18
    days on market $159,000 Active 34 DOM
  13. 2026-10-17
    days on market $159,000 Active 33 DOM
  14. 2026-10-16
    days on market $159,000 Active 32 DOM
  15. 2026-10-15
    days on market $159,000 Active 31 DOM
  16. 2026-10-14
    days on market $159,000 Active 30 DOM
  17. 2026-10-13
    days on market $159,000 Active 29 DOM
  18. 2026-10-12
    days on market $159,000 Active 28 DOM
  19. 2026-10-11
    days on market $159,000 Active 27 DOM
  20. 2026-10-10
    days on market $159,000 Active 26 DOM
  21. 2026-10-09
    days on market $159,000 Active 25 DOM
  22. 2026-10-08
    days on market $159,000 Active 24 DOM
  23. 2026-10-07
    days on market $159,000 Active 23 DOM
  24. 2026-10-06
    days on market $159,000 Active 22 DOM
  25. 2026-10-05
    days on market $159,000 Active 21 DOM
  26. 2026-10-04
    days on market $159,000 Active 20 DOM
  27. 2026-10-04
    days on market $159,000 Active 19 DOM
  28. 2026-10-02
    days on market $159,000 Active 18 DOM
  29. 2026-10-01
    days on market $159,000 Active 17 DOM
  30. 2026-09-29
    pricestatus $159,000 Active 15 DOM
  31. 2026-05-20
    status Pending
  32. 2026-05-19
    price $175,000
  33. 2026-05-05
    listed $200,000 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 ≥104°F today · 17 d/yr by 30 yrs out
  • 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
  • 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$16,490
− Mortgage interest
−$8,906
− Property taxes
−$2,385
− Insurance
−$795
− Repairs & maintenance
−$1,319
− Management
−$1,319
− HOA
−$5,496
− Depreciation
−$4,625
Taxable loss
−$8,356
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,005
After-tax cash flow
$-3,649/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 · 7 photos

Good 75/100 Cosmetic rehab Est. rehab $3,150–$9,450 screening

This top-floor 1-bedroom, 1-bath condo in Fourth Ward Square is in good condition with a good layout and easy maintenance. It has a good ROI potential with minor updates to the exterior and interior lighting.

Value-add opportunities

  • Both Paint the exterior — Enhances curb appeal and resale value ↑
  • Both Replace the light fixture in the living room — Improves aesthetics and functionality ↑
  • Both Install a smart thermostat — Saves energy and improves comfort ↑
  • Both Add a smart lock — Enhances security and convenience ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Bruns Avenue Elementary F NC #1,397/1,410 Nat'l #39,883/41,679 Middle Sedgefield Middle F NC #279/475 Nat'l #7,347/14,009 High Myers Park High School A- NC #85/535 Nat'l #1,312/17,239

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)
17,653
Household income
$105,889
Rent vs Own
71.4% rent · 28.6% own
Severe rent burden
7% 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
Diverse neighborhood (Simpson 0.66)
Race & ethnicity
White 52% Black 23% Hispanic / Latino 12% Two or more races 10% Asian 7%
Hispanic origin (detail)
Mexican 3% Cuban 4%
Languages at home
84% English-only · Spanish 8% Other Indo-European 2% Chinese 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
—

Price history

-12.5% since first listed
3 events — show timeline
  • 2026-05-20 Pending — CANOPYMLS as Distributed by MLS Grid
  • 2026-05-19 Price Changed $175,000 CANOPYMLS as Distributed by MLS Grid
  • 2026-05-05 Listed $200,000 CANOPYMLS as Distributed by MLS Grid

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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