9531-D Shannon Green Dr · Charlotte, NC 28213

$150,000

2 bd · 1.0 ba · 843 sqft · Condo public records · 73 Days on market

Built 1984 Est $135k · 11% over $225/mo HOA · 16% 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).

• Cash flow +12.2/30.0
• 1% rule +4.6/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• DSCR +3.6/10.0
• Rent growth +2.7/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newly painted & new carpet throughout. New electric range just installed! Open floor plan. Spacious bedrooms. Master bedroom has large walk-in closet. Master bath has large shower w/ tile surround, ceramic tile floor. Kitchen features tons of counter space. Pantry, utility closet. Foyer with coat closet leads into the den. Lots of windows for tons of natural light. Main floor living for convenience. Located close to I-485 & I-85. Wonderful investment for your current or future college student!

Key facts

• Open floor plan
• Easy access to i-485
• Tile flooring

Tags

• TILE FLOORING
• OPEN FLOOR PLAN
• WALKING DISTANCE TO UNCC
• CLOSE TO PUBLIC TRANSPORTATION
• CLOSE TO SHOPPING
• EASY ACCESS TO I-485

Property features AI

Finance

• Other: Subject to subdivision restrictions and CCRs
• HOA & community: HOA managed by JCC Property Group; Mandatory HOA dues of $225 monthly

Exterior

• Parking: 2 assigned parking spaces; Parking lot with individual parking spaces
• Security: Smoke detector(s)
• Utilities: City water; Public sewer; Cable connected; Electricity connected; Underground power and utilities
• Home design: Residential condominium; Site-built construction; One story; Entry level: 1; Facing: N2B zoning specification
• Construction: Vinyl exterior; Composition roof; Slab foundation
• Exterior features: Lawn maintenance provided; Cleared lot; Paved road; Private maintained road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Exhaust fan
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms (on the main level)
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Open floorplan; Insulated windows; Smoke detectors
• Laundry & utility: Washer/Dryer included; Laundry in hall with laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-29 ($-353/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (4.5% below list).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.1% 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; 282 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $4k 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 73 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago 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 $36k; list at $150k implies a 311% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $141,000 (6.0% 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 73 days. Have you received any prior offers? Is the seller open to a 6% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.84%
• DSCR: 0.96
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $134,880
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9329 Old Concord Rd Unit A	0.24mi	2/2.0	843 (0%)	13mo	$134,500	$160	74
9329 Old Concord Rd Unit B	0.24mi	2/2.0	938 (+11%)	14mo	$140,000	$149	55

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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.30×
• Total profit: $-29,418
• Equity at exit: $22,365

10-year hold

• IRR: -21.2%
• Equity multiple: 0.03×
• Total profit: $-40,689
• Equity at exit: $12,969

Cash invested: $42,000 (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 28213

• Home prices YoY: -24.9%
• Rents YoY: 0.6%
• Active inventory: 282
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,433 high
• Mortgage (P&I): −$787
• Tax from tax record: −$87 /mo · $1,045/yr
• Insurance: −$62
• HOA: −$225
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $-29

Break-even live

Break-even rent $1,470

Max offer price $144,806

Occupancy floor 97%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
Shannon Green Dr Charlotte, NC	2.0	2.0	950	$1,150	$1.21	23d	1	0.03mi
9501 Shannon Green Dr Unit A Charlotte, NC	2.0	2.0	950	$1,100	$1.16	23d	1	0.06mi
9500 Shannon Green Dr Charlotte, NC	2.0	2.0	857	$1,150	$1.34	21d	1	0.08mi
9424 Lexington Cir Charlotte, NC	3.0	2.5	1110	$1,700	$1.53	21d	1	0.09mi
9603 Vinca Cir Unit D Charlotte, NC	2.0	2.0	850	$1,300	$1.53	16d	1	0.13mi
9603 Vinca Cir Charlotte, NC	2.0	2.0	836	$1,400	$1.67	16d	1	0.13mi
9629 Vinca Cir Rm 1 Charlotte, NC	1.0	1.0	800	$1,550	$1.94	5d	1	0.13mi
9629 Vinca Cir Unit H Charlotte, NC	2.0	2.0	836	$1,550	$1.85	5d	1	0.13mi
9607 Vinca Cir Unit F Charlotte, NC	2.0	2.0	847	$1,300	$1.53	23d	1	0.16mi
Vinca Cir Charlotte, NC	2.0	2.0	850	$1,350	$1.59	23d	1	0.16mi
9401 Old Concord Rd Unit L Charlotte, NC	2.0	2.0	800	$1,250	$1.56	21d	1	0.19mi
9333 Old Concord Rd Unit J Charlotte, NC	2.0	2.0	843	$1,350	$1.60	23d	1	0.22mi
9617 Vinca Cir Unit G Charlotte, NC	2.0	2.0	839	$1,450	$1.73	7d	1	0.23mi
9329 Old Concord Rd Charlotte, NC	2.0	2.0	843	$1,350	$1.60	23d	1	0.24mi
9329 Old Concord Rd Unit A Charlotte, NC	2.0	2.0	843	$1,500	$1.78	7d	1	0.24mi
1614 Arlyn Cir Unit M Charlotte, NC	3.0	2.0	847	$1,500	$1.77	23d	1	0.25mi
1600 Arlyn Cir Charlotte, NC	3.0	2.0	857	$1,300	$1.52	19d	1	0.32mi
1630 Arlyn Cir Charlotte, NC	1.0	1.0	850	$550	$0.65	23d	1	0.35mi
Arlyn Cir Charlotte, NC	3.0	2.0	950	$1,400	$1.47	23d	1	0.36mi
1649 Arlyn Cir Charlotte, NC	1.0	1.0	920	$625	$0.68	23d	1	0.42mi
1645 Arlyn Cir Unit A Charlotte, NC	2.0	2.0	847	$1,420	$1.68	14d	1	0.45mi
1301 Ivy Meadow Dr Charlotte, NC	1.0–3.0	1.0–2.0	1121	$1,636	$1.46	2d	26	0.47mi
9179 Meadow Vista Rd Charlotte, NC	2.0	2.0	1104	$1,500	$1.36	23d	1	0.63mi
2410 Allerton Way Charlotte, NC	1.0–3.0	1.0–2.0	1202	$1,594	$1.33	2d	21	0.70mi
8913 Meadow Vista Rd Charlotte, NC	2.0	2.0	1016	$1,275	$1.25	21d	1	0.73mi
8215 University Ridge Dr Charlotte, NC	1.0–3.0	1.0–2.0	1018	$1,406	$1.38	1d	14	0.77mi
5315 Waters Edge Village Dr Charlotte, NC	3.0	1.0–2.0	1239	$2,737	$2.21	2d	41	0.86mi
1200 Campus Pointe Ct Charlotte, NC	1.0–3.0	1.0–3.0	893	$1,230	$1.38	23d	9	0.97mi
529 Lex Dr Charlotte, NC	3.0	2.5	1110	$1,700	$1.53	21d	1	1.21mi
6205 Dove Tree Ln Charlotte, NC	1.0–2.0	1.0–2.0	911	$1,429	$1.57	2d	7	1.29mi
420 Michelle Linnea Dr Charlotte, NC	1.0–2.0	1.0–2.0	870	$1,901	$2.19	2d	18	1.35mi
420 Michelle Linnea Dr Charlotte, NC	2.0	2.0	1070	$1,780	$1.66	20d	1	1.35mi
420 Michelle Linnea Dr Charlotte, NC	1.0	1.0	670	$1,430	$2.13	16d	1	1.35mi
420 Michelle Linnea Dr Charlotte, NC	2.0	2.0	1070	$1,891	$1.77	14d	1	1.35mi
8340 N Tryon St Charlotte, NC	1.0	1.0	467	$1,425	$3.05	1d	25	1.38mi
1720 Rocky River Rd Charlotte, NC	1.0–2.0	1.0–2.0	967	$1,999	$2.07	1d	10	1.38mi
8424 N Tryon St Charlotte, NC	1.0–2.0	1.0–2.0	939	$1,935	$2.06	2d	25	1.39mi
11015 Education Way Charlotte, NC	2.0–4.0	2.0–4.0	1270	$738	$0.58	23d	9	1.40mi
10425 Wheatside Dr Charlotte, NC	3.0	1.0–2.0	718	$1,325	$1.85	23d	1	1.42mi
305 Prine Pl Charlotte, NC	3.0	1.0–2.0	1019	$2,151	$2.11	2d	34	1.42mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-04
   days on market $150,000 Active 73 DOM
2. 2026-06-03
   days on market $150,000 Active 72 DOM
3. 2026-06-02
   days on market $150,000 Active 71 DOM
4. 2026-06-02
   days on market $150,000 Active 70 DOM
5. 2026-05-31
   days on market $150,000 Active 69 DOM
6. 2026-03-23
   listed $150,000 Active
7. 2015-02-06
   soldstatus $36,500 Closed 507-char remark

   Show marketing remark (507 chars)

   Newly painted & new carpet throughout. New electric range just installed! Open floor plan. Spacious bedrooms. Master bedroom has large walk-in closet. Master bath has large shower w/ tile surround, ceramic tile floor. Kitchen features tons of counter space. Pantry, utility closet. Foyer with coat closet leads into the den. Lots of windows for tons of natural light. Main floor living for convenience. Located close to I-485 & I-85. Wonderful investment for your current or future college student!

8. 2015-02-06
   soldstatus $36,500

   Show marketing remark (507 chars)

   Newly painted & new carpet throughout. New electric range just installed! Open floor plan. Spacious bedrooms. Master bedroom has large walk-in closet. Master bath has large shower w/ tile surround, ceramic tile floor. Kitchen features tons of counter space. Pantry, utility closet. Foyer with coat closet leads into the den. Lots of windows for tons of natural light. Main floor living for convenience. Located close to I-485 & I-85. Wonderful investment for your current or future college student!

9. 2015-01-14
   historical Under Contract - Show 507-char remark

   Show marketing remark (507 chars)

   Newly painted & new carpet throughout. New electric range just installed! Open floor plan. Spacious bedrooms. Master bedroom has large walk-in closet. Master bath has large shower w/ tile surround, ceramic tile floor. Kitchen features tons of counter space. Pantry, utility closet. Foyer with coat closet leads into the den. Lots of windows for tons of natural light. Main floor living for convenience. Located close to I-485 & I-85. Wonderful investment for your current or future college student!

10. 2015-01-12
    listed $40,000 Active 507-char remark

    Show marketing remark (507 chars)

    Newly painted & new carpet throughout. New electric range just installed! Open floor plan. Spacious bedrooms. Master bedroom has large walk-in closet. Master bath has large shower w/ tile surround, ceramic tile floor. Kitchen features tons of counter space. Pantry, utility closet. Foyer with coat closet leads into the den. Lots of windows for tons of natural light. Main floor living for convenience. Located close to I-485 & I-85. Wonderful investment for your current or future college student!

11. 1991-03-01
    soldstatus $46,500
12. 1990-10-01
    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: $1,045 · $87/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$185/yr (+$15/mo · 17.7%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $17,192
• − Mortgage interest: −$8,402
• − Property taxes: −$1,045
• − Insurance: −$750
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − HOA: −$2,700
• − Depreciation: −$4,364
• Taxable loss: −$2,820
• Est. tax savings @ 24.0%: +$677
• After-tax cash flow: $324/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): 45,904
• Household income: $58,146
• Rent vs Own: 55.9% rent · 44.1% own
• Severe rent burden: 3547.0

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 48% Hispanic / Latino 27% White 18% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1% Dominican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 23% Other Indo-European 1% Arabic 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: ▼ -88.12%
• Current HPI: 265.9966
• Rent YoY: ▲ 0.63%
• 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

+222.6% since first listed

7 events — show timeline

• 2026-03-23 Listed $150,000 CANOPYMLS as Distributed by MLS Grid
• 2015-02-06 Sold (Public Records) $36,500 Public Records
• 2015-02-06 Sold (MLS) $36,500 CANOPYMLS as Distributed by MLS Grid
• 2015-01-14 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2015-01-12 Listed $40,000 CANOPYMLS as Distributed by MLS Grid
• 1991-03-01 Sold (Public Records) $46,500 Public Records
• 1990-10-01 Sold (Public Records) $46,500 Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,045 · +2.1% YoY. Source: county tax records.