12523 Asbury Chapel Rd · Huntersville, NC 28078

$275,000

3 bd · 2.0 ba · 1,344 sqft · Land public records · 87 Days on market

Built 1978 0.55 ac lot ↓ 14% since listing

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Why this score? — see what drove the F 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 +8.5/30.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to own over half an acre on the east side of Huntersville, a popular, growing area that is convenient to Huntersville Town Center, Birkdale Village, and only 8 miles to Concord Mills and 4 miles to I-485. This property offers a 3 bedroom, 2 bathroom doublewide manufactured home, with a metal 2-car carport. Bring the pets to the fenced-in yard; ready to move in. Great opportunity for investors as well. Property being sold as is; seller will make no repairs.

Key facts

• 0.55 acre lot
• 2 parking spots
• Built 1978

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached carport with 2 carport spaces
• Utilities: City water; Public sewer; Electricity connected; Cable available
• Home design: Manufactured doublewide single-family residence; One level; Completed development
• Construction: Manufactured construction; Aluminum and vinyl exterior materials; Composition roof; Crawl space foundation; Built as a single-unit manufactured home
• Exterior features: Enclosed patio/porch; Chain link fencing; Cleared lot; Shed(s) on the property; Asphalt/paved public road access

Interior

• Kitchen: Electric oven; Electric range
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Heat pump; Central air
• Interior features: 10 total rooms; Ceiling fans in multiple rooms; Walk-in closets in several rooms
• Laundry & utility: Electric dryer hookup; Laundry located in hall; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $275k.

Deal economics

• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (23.7% below list).
• Recommended offer: $210k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.6% in Huntersville — 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 75/100 on livability (#47 in NC, #4,079 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, health & safety D+, amenities 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: Blythe Elementary (math 39% / reading 45%, grade F, #633 of 1,410 statewide, top 48%, 915 students, 45% FRL); J. M. Alexander Middle (math 25% / reading 41%, grade F, #305 of 475 statewide, top 65%, 783 students, 52% FRL); North Mecklenburg High School (math 61% / reading 56%, grade C, #235 of 535 statewide, top 45%, 2,186 students, 45% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents flat; 768 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $8k 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 87 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,889 (23.7% 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 87 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.76% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.78%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.16% rent growth · sell at horizon

5-year hold

• IRR: -25.9%
• Equity multiple: 0.15×
• Total profit: $-65,797
• Equity at exit: $41,003

10-year hold

• IRR: -35.1%
• Equity multiple: -0.29×
• Total profit: $-99,651
• Equity at exit: $23,777

Cash invested: $77,000 (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 28078

• Home prices YoY: -31.4%
• Rents YoY: 0.2%
• Active inventory: 768
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,099 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-242

Break-even live

Break-even rent $2,406

Max offer price $239,933

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-147	+0% $-242	+5% $-337	+10% $-432
Rent	-10% $-408	-5% $-325	+0% $-242	+5% $-159	+10% $-77
Rate	-1.0pp $-104	-0.5pp $-172	base $-242	+0.5pp $-314	+1.0pp $-386

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6930 Prosperity Church Rd Huntersville, NC	1.0–2.0	1.0–2.5	1088	$2,874	$2.64	5d	26	1.14mi
6503 Ziegler Ln Charlotte, NC	2.0	2.0	1068	$1,800	$1.69	26d	1	1.22mi
8829 Arbor Creek Dr Charlotte, NC	2.0	2.5	1200	$1,645	$1.37	4d	1	1.35mi
12640 Cardinal Point Rd Charlotte, NC	3.0	2.5	1608	$1,455	$0.90	15d	1	1.38mi
5030 Cardinal Spring Rd Charlotte, NC	1.0–3.0	1.0–2.0	1115	$3,039	$2.73	0d	54	1.41mi
8643 Beaver Creek Dr Charlotte, NC	2.0	2.5	1152	$1,750	$1.52	16d	1	1.43mi
8606 Beaver Creek Dr Charlotte, NC	2.0	2.5	1134	$1,749	$1.54	4d	1	1.43mi
8606 Beaver Creek Dr Charlotte, NC	2.0	2.5	1134	$1,749	$1.54	9d	1	1.43mi
8409 Summerford Dr Charlotte, NC	2.0	2.5	1569	$1,995	$1.27	0d	1	1.44mi
4708 Pepperstone Ln Charlotte, NC	2.0	2.5	1500	$1,999	$1.33	18d	1	1.47mi
4602 Quinton Ln Charlotte, NC	3.0	2.5	1365	$1,845	$1.35	20d	1	1.49mi

Listing history 17 events

1. 2026-06-21
   days on market $275,000 Active 87 DOM
2. 2026-06-18
   days on market $275,000 Active 84 DOM
3. 2026-06-17
   days on market $275,000 Active 83 DOM
4. 2026-06-16
   days on market $275,000 Active 82 DOM
5. 2026-06-15
   days on market $275,000 Active 81 DOM
6. 2026-06-13
   days on market $275,000 Active 79 DOM
7. 2026-06-10
   days on market $275,000 Active 75 DOM
8. 2026-06-08
   days on market $275,000 Active 74 DOM
9. 2026-06-07
   days on market $275,000 Active 73 DOM
10. 2026-06-04
    days on market $275,000 Active 70 DOM
11. 2026-06-03
    days on market $275,000 Active 69 DOM
12. 2026-06-02
    days on market $275,000 Active 68 DOM
13. 2026-06-02
    days on market $275,000 Active 67 DOM
14. 2026-05-31
    days on market $275,000 Active 66 DOM
15. 2026-05-19
    price $275,000
16. 2026-04-20
    price $295,000
17. 2026-03-26
    listed $319,000 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 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,187
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,015
• − Management: −$2,015
• − Depreciation: −$8,000
• Taxable loss: −$7,747
• Est. tax savings @ 24.0%: +$1,859
• After-tax cash flow: $-1,049/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 — Huntersville

• Score: 75/100
• State rank: #47
• US rank: #4079

Category grades

Amenities F Commute F Cost of living C- Crime A- Employment A+ Housing A+ Health & safety D+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Mecklenburg County · 1,167,319 people
• City population: 71,657
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 71,657
• Household income: $120,831
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 1275.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Black 13% Hispanic / Latino 7% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Slovak 4% Romanian 3% Serbian 3%
• Foreign-born: 10% · Canada, South Korea, Jamaica
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 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: ▼ -122.16%
• Current HPI: 266.4459
• Rent YoY: ▲ 0.16%
• 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

-13.8% since first listed

3 events — show timeline

• 2026-05-19 Price Changed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $295,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-26 Listed $319,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

-1.7%/yr

Latest (2025): $530 · +2.6% YoY. Source: county tax records.