6117 Heathstone Ln Unit C · Charlotte, NC 28210

$1,250

1 bd · 1.0 ba · 696 sqft · Condo public records · 3 Days on market

Built 1980

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Wonderful Convenient Location in the Heathstead Community, 2 miles from SouthPark. Walking distance to Harris Fitness Center and Quail Corners Shopping is a short distance with Harris Teeter. Unit has recent paint, recent carpeting and New Heat Pump System. 2nd floor garden unit. Hurry on this one! It is a Great Spot!

Key facts

• Heathstead community
• Recent paint
• Recent carpeting

Tags

• HEATHSTEAD COMMUNITY
• QUAIL CORNERS SHOPPING
• RECENT PAINT
• RECENT CARPETING
• NEW HEAT PUMP SYSTEM
• 2ND FLOOR GARDEN UNIT

Property features AI

Finance

• Other: Single unit in the building
• Financial info: Tenant responsible for all utilities except water; tenant pays cable TV and electricity
• HOA & community: Homeowners association present and required

Exterior

• Parking: Assigned parking space; Parking lot with ample guest parking
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: City water; Public sewer; Cable available
• Home design: Apartment; Residential income property; R12MF zoning
• Construction: Site-built construction; No foundation (listed as none)
• Exterior features: Balcony; Asphalt-paved, publicly maintained road access

Interior

• Kitchen: Dishwasher; Electric cooktop; Oven (self-cleaning); Exhaust fan / hood; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Carpet; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Built-in features; Open floor plan; Fireplace
• Laundry & utility: Washer and dryer included; Laundry closet on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $1k.

Deal economics

• At list price, monthly cash flow is $991 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1k).
• Cap rate 957.6% 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: 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: Beverly Woods Elementary (math 76% / reading 68%, grade A-, #73 of 1,410 statewide, top 6%, 611 students, 15% FRL); South Mecklenburg High School (math 71% / reading 66%, grade B, #134 of 535 statewide, top 25%, 3,344 students, 36% FRL) — zoned schools average 26% FRL vs 49% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 70% at this address vs 44% district-wide (+26 pts) — the actual schools serving this property are materially stronger than the Charlotte-Mecklenburg Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.0%/yr); 246 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).
• This rent is only 18% of the median local income ($101k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8 of loan paydown is wiped out by about $38 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $350 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: 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 $1,250

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 118.54% ✓
• Cap rate: 957.60%
• Cash-on-cash: 3397.52%
• DSCR: 152.17
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 168.70×
• Total profit: $58,696
• Equity at exit: $186

10-year hold

• IRR: —
• Equity multiple: 332.76×
• Total profit: $116,117
• Equity at exit: $108

Cash invested: $350 (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 28210

• Rents YoY: -1.0%
• Active inventory: 246
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,482 medium
• Mortgage (P&I): −$7
• Tax est. 1.5%: −$2 /mo · $19/yr
• Insurance: −$1
• HOA est. from 2 same-building comps: −$171
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $991

Break-even live

Break-even rent $227

Max offer price $1,250

Occupancy floor 28%

Sensitivity live

Price	-10% $992	-5% $991	+0% $991	+5% $991	+10% $990
Rent	-10% $874	-5% $932	+0% $991	+5% $1,049	+10% $1,108
Rate	-1.0pp $992	-0.5pp $991	base $991	+0.5pp $991	+1.0pp $990

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: $312
• Closing costs: $38
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4012 Quail Forest Dr Charlotte, NC	1.0	1.0	635	$1,329	$2.09	4d	1	0.86mi
4835 Cameron Valley Pkwy Charlotte, NC	3.0	1.0–2.0	1337	$1,923	$1.44	2d	44	1.16mi
4905 Ashley Park Ln Charlotte, NC	2.0	1.0–2.0	895	$1,924	$2.15	5d	19	1.16mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-18
   days on market $1,250 Coming Soon 3 DOM
2. 2026-06-17
   days on market $1,250 Coming Soon 2 DOM
3. 2026-06-15
   remarks 320-char remark
4. 2026-06-15
   listed $1,250 Coming Soon 1 DOM

ⓘ 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 ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,781
• − Mortgage interest: −$70
• − Property taxes: −$19
• − Insurance: −$6
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − HOA: −$2,052
• − Depreciation: −$36
• Taxable income: $12,753
• Est. tax owed @ 24.0%: −$3,061
• After-tax cash flow: $8,831/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): 47,359
• Household income: $100,824
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2363.0

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: White 60% Hispanic / Latino 20% Two or more races 13% Black 12% Asian 3%
• Hispanic origin (detail): Mexican 5% Dominican 1%
• Common ancestry: Serbian 4% Slovak 3% Romanian 2%
• Foreign-born: 19% · Canada, Jamaica, Guatemala
• Languages at home: 77% English-only · Spanish 17% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -521.35%
• Current HPI: 316.6779
• Rent YoY: ▼ -1.00%
• 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

-96.8% since first listed

2 events — show timeline

• 2026-06-15 Coming Soon $1,250 CANOPYMLS as Distributed by MLS Grid
• 1991-05-01 Sold (Public Records) $39,000 Public Records

Property tax history

+3.5%/yr

Latest (2024): $1,380 · +4.0% YoY. Source: county tax records.