4719 Metroon Dr

Charlotte, NC 28227

$179,099C

2 bd · 2.0 ba · 1,197 sqft · Built 2025 · SingleFamily · Active · 275 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,778/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$298
• HOA: −$0
• Vac / Maint / Mgmt: −$373
• Net cashflow: $167/mo
• Annual: $2,007/yr
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• 1% rule: 0.99%
• Cash to close: $50,148

Investor read

• This is a 2-bed/2.0-bath single-family listed at $179k. Condition is rated fair.
• At list price, monthly cash flow is $167 ($2k/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 $178k (0.7% below list).
• It's been on market 275 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• 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: Mint Hill Elementary School (530 students, 50% FRL); Northeast Middle (math 20% / reading 35%, grade F, #368 of 475 statewide, top 78%, 569 students, 53% FRL); Independence High School (math 65% / reading 54%, grade C+, #216 of 535 statewide, top 43%, 2,022 students, 42% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents rising (+2.7%/yr); 553 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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).
• Mecklenburg County population projected at +53% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 7.4% vs local median 3.2% 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.

Questions for listing agent

• It's been on market 275 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Landscaping — There is some overgrowth and uneven grass that could be trimmed and landscaped.
• Minor: Exterior paint — The siding appears to be in good condition, but a fresh coat of paint could enhance the curb appeal.