3512 Otwell Ct · Charlotte, NC 28216

$179,999

3 bd · 1.0 ba · 1,055 sqft · SingleFamily public records · 10 Days on market

Built 1971 10,018 sqft lot Est $269k · 33% under

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Why this score? — see what drove the B- 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This Ranch style home is a diamond in the rough. Need a little TLC. Easy access to Uptown and the Airport. Public Transportation Bus stop is only 500 walking feet away. Home is tenant occupied month to month. Home is being SOLD "AS-IS" NEW HEAT INSTALL 10/25, AC currently not operable per the tenant. The roof looks aged but currently no leaks. Other than that the home appears to be in good shape. Due to the overwhelming interest The sellers are looking for highest and best by 5pm Friday 6/12/26 to included Due Diligence concession. The Buyer will be responsible for the tenant eviction if he does not leave voluntarily.

Key facts

• 0.23 acre lot
• Built 1971
• Listed 10 days

Tags

• EASY ACCESS TO UPTOWN
• EASY ACCESS TO THE AIRPORT
• PUBLIC TRANSPORTATION BUS STOP

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: City water; Public sewer
• Home design: Single-family residence; One story; Site-built construction; Partial brick exterior; Shingle/shake exterior; Entry on main level; Facing direction not specified
• Construction: Slab foundation
• Exterior features: Fenced yard; Cul-de-sac lot; Level lot; Gravel and concrete road access; Publicly maintained road

Interior

• Kitchen: Gas cooktop; Gas oven; Gas range
• Bedrooms: Three bedrooms (main level)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Five rooms total; Storage
• Laundry & utility: Laundry on the main level

🏷️ Possibly a rental listed for sale. The $179,999 price doesn't fit this home's estimated sale value (~$269,025) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 8.9% 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 rising (+2.1%/yr); 458 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).
• This rent runs 36% of the median local income ($66k/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 $1k of loan paydown is wiped out by about $5k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $18k; list at $180k implies a 929% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% 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 $179,999

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.28%
• DSCR: 1.41
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $269,025
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3600 Braden Dr	0.14mi	3/1.0	1,070 (+1%)	1mo	$287,000	$268	91
3601 Braden Dr	0.13mi	3/1.0	1,055 (0%)	8mo	$220,000	$209	87
615 Milan Rd E	0.04mi	3/1.5	1,100 (+4%)	7mo	$150,000	$136	83
3623 Braden Dr	0.16mi	3/1.0	1,059 (+0%)	12mo	$285,000	$269	82
529 Dedmon Dr	0.23mi	3/1.0	1,060 (+0%)	12mo	$260,000	$245	78
3716 Capps Hill Dr #19	0.28mi	3/2.0	1,006 (-5%)	2mo	$248,000	$247	74
3753 Capps Hill Dr	0.30mi	3/2.0	1,077 (+2%)	11mo	$250,000	$232	69
1218 Milan Rd	0.34mi	3/1.0	1,000 (-5%)	8mo	$255,000	$255	68
719 Lightspun Ln	0.37mi	3/1.0	960 (-9%)	7mo	$244,815	$255	62
1629 Hudson Graham Ln	0.59mi	3/2.0	1,052 (-0%)	8mo	$275,000	$261	62
522 Klondike Ln	0.60mi	3/2.0	1,080 (+2%)	9mo	$280,000	$259	57
3528 Merrill Pl	0.58mi	3/1.0	1,210 (+15%)	2mo	$250,000	$207	47

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 · 2.08% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-6,161
• Equity at exit: $26,838

10-year hold

• IRR: 5.4%
• Equity multiple: 1.38×
• Total profit: $19,284
• Equity at exit: $15,563

Cash invested: $50,400 (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 28216

• Home prices YoY: -31.8%
• Rents YoY: 2.1%
• Active inventory: 458
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,948 high
• Mortgage (P&I): −$944
• Tax from tax record: −$130 /mo · $1,561/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $390

Break-even live

Break-even rent $1,454

Max offer price $179,999

Occupancy floor 75%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3610 Bardot Dr Charlotte, NC	3.0	1.5	1142	$1,735	$1.52	4d	1	0.11mi
412 Bent Leaf Ct Charlotte, NC	3.0	2.5	1300	$1,789	$1.38	7d	1	0.11mi
3239 Braden Dr Charlotte, NC	4.0	2.0	1308	$1,800	$1.38	21d	1	0.23mi
3807 Gold Nugget Ct Charlotte, NC	3.0	2.0	1038	$1,770	$1.71	7d	1	0.31mi
818 Dedmon Dr Charlotte, NC	3.0	1.0	1200	$3,400	$2.83	16d	1	0.33mi
1604 Black Diamond Ct Charlotte, NC	3.0	2.0	1032	$1,625	$1.57	23d	1	0.43mi
624 Lightspun Ln Charlotte, NC	3.0	2.5	1280	$1,860	$1.45	19d	1	0.45mi
4940 Hopewood Ln Charlotte, NC	4.0	2.0	1482	$1,829	$1.23	23d	1	0.55mi
3513 Merrill Pl Charlotte, NC	3.0	2.0	1000	$2,200	$2.20	16d	1	0.56mi
1113 Capps Hollow Dr Charlotte, NC	3.0	2.0	1025	$1,629	$1.59	16d	1	0.74mi
1509 Crandon Dr Charlotte, NC	3.0	2.0	1100	$1,625	$1.48	23d	1	0.86mi
4164 Canyon Creek Ln Charlotte, NC	3.0	2.0	1221	$1,880	$1.54	23d	1	1.17mi
2308 Juniper Dr Charlotte, NC	4.0	2.5	1305	$1,799	$1.38	16d	1	1.23mi
2544 Abelwood Rd Charlotte, NC	3.0	1.0	975	$1,495	$1.53	23d	1	1.35mi
517 N Linwood Ave Charlotte, NC	3.0	2.0	1154	$1,973	$1.71	16d	1	1.36mi
340 Peachtree Rd Charlotte, NC	3.0	2.0	1124	$1,739	$1.55	7d	1	1.37mi
2701 Abelwood Rd Charlotte, NC	3.0	1.5	988	$2,000	$2.02	4d	1	1.37mi
5823 Hamilton Oaks Dr Charlotte, NC	3.0	2.0	1074	$1,640	$1.53	4d	1	1.37mi
2244 English Dr Charlotte, NC	3.0	1.0	962	$1,550	$1.61	23d	1	1.39mi
1003 Korp Rd Charlotte, NC	3.0	2.5	1254	$1,745	$1.39	16d	1	1.43mi
314 Clarence St Unit 2 Charlotte, NC	4.0	2.0	1330	$1,495	$1.12	23d	1	1.48mi
314 Clarence St Unit 3913-8 Charlotte, NC	3.0	1.5	1170	$1,325	$1.13	23d	1	1.48mi
314 Clarence St Charlotte, NC	2.0–4.0	1.5–2.0	1160	$1,295	$1.12	20d	2	1.48mi
3304 Sunset Rd Charlotte, NC	3.0	2.0	1300	$1,720	$1.32	2d	1	1.49mi
1033 Rook Rd Charlotte, NC	3.0	2.5	1476	$3,000	$2.03	7d	1	1.50mi

Listing history 8 events

1. 2026-06-18
   days on market $179,999 Active 10 DOM
2. 2026-06-17
   days on market $179,999 Active 9 DOM
3. 2026-06-16
   days on market $179,999 Active 8 DOM
4. 2026-06-15
   days on market $179,999 Active 7 DOM
5. 2026-06-13
   days on market $179,999 Active 5 DOM
6. 2026-06-10
   remarks 626-char remark
7. 2026-06-08
   remarks 169-char remark
8. 2026-06-08
   listed $179,999 Active 1 DOM

ⓘ 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: $1,561 · $130/mo
• Projected year-2 tax: $1,561 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,374
• − Mortgage interest: −$10,083
• − Property taxes: −$1,561
• − Insurance: −$900
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − Depreciation: −$5,236
• Taxable income: $1,854
• Est. tax owed @ 24.0%: −$445
• After-tax cash flow: $4,232/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): 57,507
• Household income: $65,795
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 3184.0

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 0.58)
• Race & ethnicity: Black 60% White 20% Hispanic / Latino 12% Asian 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 13% · Canada, Vietnam, Philippines
• Languages at home: 82% English-only · Spanish 11% Other Asian/Pacific 2% Other Indo-European 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: ▼ -130.17%
• Current HPI: 278.6861
• Rent YoY: ▲ 2.08%
• 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

+928.6% since first listed

2 events — show timeline

• 2026-06-08 Listed $179,999 CANOPYMLS as Distributed by MLS Grid
• 1976-05-01 Sold (Public Records) $17,500 Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,561 · +2.5% YoY. Source: county tax records.