12414 Buxton Dr · Charlotte, NC 28134

$239,900

3 bd · 2.5 ba · 1,680 sqft · Land public records · 336 Days on market

Built 1987 9,147 sqft lot $40/mo HOA · 2% of rent

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Why this score? — see what drove the C- 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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

4 Bedroom 2 Bath home in Lamplighter Village. This home has a large Primary bedroom with 2 walk in closets. The Primary bath area has a walk in shower and a second therapeutic bath/shower. The utility room has a storage area that also is plumbed to add a 1/2 bath. The shed is 16' X 12' and has electricity to make ideal space for a workshop. The roof is metal and will make for minimal repairs. The back yard is fenced in, a wood deck in back makes for a quiet setting. "The Home is being sold as is"

Key facts

• 2 walk in closets
• Therapeutic bath
• Storage area

Tags

• LARGE PRIMARY BEDROOM
• 2 WALK IN CLOSETS
• WALK IN SHOWER
• THERAPEUTIC BATH
• STORAGE AREA
• ELECTRICITY FOR WORKSHOP

Property features AI

Finance

• HOA & community: Located in Lamplighter Village HOA; Mandatory HOA dues of $40 monthly

Exterior

• Parking: Driveway with 4 open parking spaces
• Utilities: Community well water; Public sewer
• Home design: Manufactured doublewide single-family residence; One level; Crawl space foundation
• Construction: Manufactured construction; Vinyl exterior; Metal roof
• Exterior features: Back yard with fencing; Fenced lot; Shed(s) on the property; Asphalt/paved road frontage; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Four bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning; Heat pump cooling
• Interior features: Walk-in closet(s); 9 total rooms
• Laundry & utility: Washer and dryer included; Utility room for laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $240k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (2.9% below list).
• Recommended offer: $211k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: schools D+, 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.
• Market conditions: Rents flat; 76 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 33% of the median local income ($86k/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 $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 336 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $48k; list at $240k implies a 405% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 27% 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 $211,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 8.18%
• Cash-on-cash: 6.74%
• DSCR: 1.30
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.55% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.69×
• Total profit: $-20,526
• Equity at exit: $35,770

10-year hold

• IRR: -2.2%
• Equity multiple: 0.86×
• Total profit: $-9,169
• Equity at exit: $20,742

Cash invested: $67,172 (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 28134

• Home prices YoY: -26.9%
• Rents YoY: 0.6%
• Active inventory: 76
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,330 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$66 /mo · $787/yr
• Insurance: −$100
• HOA: −$40
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $377

Break-even live

Break-even rent $1,853

Max offer price $239,900

Occupancy floor 79%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12409 Danby Rd Pineville, NC	3.0	2.0	1137	$1,915	$1.68	16d	1	0.20mi
13505 Gatestone Ln Pineville, NC	3.0	2.0	1536	$2,400	$1.56	20d	1	0.37mi
14360 Wynhollow Downs Ln Charlotte, NC	3.0	2.0	1273	$1,867	$1.47	14d	1	0.43mi
14360 Wynhollow Downs Ln Charlotte, NC	2.0	2.0	1157	$1,610	$1.39	15d	1	0.43mi
14360 Wynhollow Downs Ln Charlotte, NC	2.0	2.0	1137	$1,590	$1.40	24d	1	0.43mi
17014 Fairmount Way Pineville, NC	2.0–3.0	2.5–3.5	2399	$4,028	$1.68	2d	12	0.62mi
14325 Plantation Park Blvd Charlotte, NC	1.0–3.0	1.0–2.0	988	$2,187	$2.21	3d	22	0.81mi
501 Vista Grande Cir Charlotte, NC	3.0	2.0	1552	$2,195	$1.41	16d	1	1.01mi
8988 Lanark Ln Fort Mill, SC	3.0	2.5	1901	$2,473	$1.30	15d	1	1.08mi
12402 Bluestem Ln Charlotte, NC	3.0	2.0	1360	$1,995	$1.47	24d	1	1.08mi
2716 Dunrobin Pl Fort Mill, SC	3.0	2.5	1481	$2,050	$1.38	24d	1	1.09mi
12563 Bluestem Ln Charlotte, NC	2.0	2.5	1304	$1,695	$1.30	22d	1	1.11mi
12131 Bottlebrush Pl Charlotte, NC	3.0	2.0	1412	$1,995	$1.41	24d	1	1.11mi
12339 Bluestem Ln Charlotte, NC	2.0	2.5	1304	$1,750	$1.34	5d	1	1.12mi
12315 Bluestem Ln Charlotte, NC	2.0	2.5	1118	$1,725	$1.54	24d	1	1.12mi
15437 Asterwind Ct Charlotte, NC	3.0	2.5	1495	$1,900	$1.27	24d	1	1.14mi
14670 Via Sorrento Dr Charlotte, NC	2.0	2.0	1482	$1,980	$1.34	14d	1	1.14mi
15510 Asterwind Ct #15510 Charlotte, NC	2.0	2.5	1100	$1,700	$1.55	24d	1	1.19mi
11740 Hawick Valley Ln Charlotte, NC	4.0	3.0	2191	$2,850	$1.30	15d	1	1.19mi
15425 Barossa Valley St Charlotte, NC	3.0	2.5	1716	$2,050	$1.19	22d	1	1.25mi
14839 Santa Lucia Dr Charlotte, NC	3.0	2.0	1255	$2,000	$1.59	15d	1	1.28mi
14817 Santa Lucia Dr Charlotte, NC	3.0	2.0	1383	$2,200	$1.59	16d	1	1.29mi
14933 Santa Lucia Dr Charlotte, NC	3.0	2.0	1401	$2,250	$1.61	24d	1	1.34mi
14921 Santa Lucia Dr Charlotte, NC	2.0	2.0	1152	$2,200	$1.91	24d	1	1.36mi
11945 Crooked Stick Pl Pineville, NC	2.0–3.0	2.5–3.5	1388	$2,679	$1.93	2d	6	1.39mi
11942 Crooked Stick Pl Unit 1284691P Pineville, NC	3.0	2.5	1689	$2,572	$1.52	16d	1	1.40mi
10154 Enniscrone Rd Unit Broad Pineville, NC	2.0	2.5	1308	$2,499	$1.91	4d	1	1.41mi
10154 Enniscrone Rd Pineville, NC	3.0	3.5	1721	$2,455	$1.43	24d	1	1.41mi
10154 Enniscrone Rd Pineville, NC	2.0	2.5	1062	$2,078	$1.96	4d	1	1.41mi

HOA detail

• Monthly dues: $40 · $480/yr
• Likely covers: electric

Listing history 18 events

1. 2026-06-18
   days on market $239,900 Active 336 DOM
2. 2026-06-17
   days on market $239,900 Active 335 DOM
3. 2026-06-16
   days on market $239,900 Active 334 DOM
4. 2026-06-15
   days on market $239,900 Active 333 DOM
5. 2026-06-13
   days on market $239,900 Active 331 DOM
6. 2026-06-10
   days on market $239,900 Active 327 DOM
7. 2026-06-08
   days on market $239,900 Active 326 DOM
8. 2026-06-07
   days on market $239,900 Active 325 DOM
9. 2026-06-04
   days on market $239,900 Active 322 DOM
10. 2026-06-03
    days on market $239,900 Active 321 DOM
11. 2026-06-02
    days on market $239,900 Active 320 DOM
12. 2026-06-02
    days on market $239,900 Active 319 DOM
13. 2026-05-31
    days on market $239,900 Active 318 DOM
14. 2026-01-17
    price $239,900
15. 2026-01-17
    status Active
16. 2025-07-16
    listed $249,900 Active
17. 1996-12-05
    soldstatus $47,500
18. 1994-12-01
    soldstatus $46,500

ⓘ 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: $787 · $66/mo
• Projected year-2 tax: $1,967 · $164/mo
• Expected delta: +$1,180/yr (+$98/mo · 150.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 68% 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 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,965
• − Mortgage interest: −$13,438
• − Property taxes: −$787
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,237
• − Management: −$2,237
• − HOA: −$480
• − Depreciation: −$6,979
• Taxable income: $607
• Est. tax owed @ 24.0%: −$146
• After-tax cash flow: $4,384/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

• County: Mecklenburg County · 1,167,319 people
• City population: 920,422
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 13,245
• Household income: $85,681
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 596.0

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 0.68)
• Race & ethnicity: White 49% Hispanic / Latino 23% Two or more races 18% Black 14% Asian 6%
• Hispanic origin (detail): Mexican 7% Cuban 1% Dominican 1%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 20% Other Indo-European 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: ▼ -95.67%
• Current HPI: 260.3016
• Rent YoY: ▲ 0.55%
• 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

+415.9% since first listed

5 events — show timeline

• 2026-01-17 Price Changed $239,900 CANOPYMLS as Distributed by MLS Grid
• 2026-01-17 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-07-16 Listed $249,900 CANOPYMLS as Distributed by MLS Grid
• 1996-12-05 Sold (Public Records) $47,500 Public Records
• 1994-12-01 Sold (Public Records) $46,500 Public Records

Property tax history

+1.8%/yr

Latest (2025): $787 · +2.0% YoY. Source: county tax records.