9119 Spyglass Pl Unit 9119D · Charlotte, NC 28214

$114,000

1 bd · 1.0 ba · 684 sqft · Condo · 69 Days on market

Built 1973 Good condition $127/mo HOA · 9% of rent

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Why this score? — see what drove the C+ 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 +22.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +7.3/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity in North Charlotte! This 1 bed, 1 bath condo offers low-maintenance living with rental income already in place for the next year. Currently rent $975/month with new management in place, making it a turnkey option for investors. Features include LVP flooring throughout (tile in bath), a spacious living area open to the dining and kitchen, and a private patio with peaceful wooded views. The kitchen is equipped with range/oven and dishwasher, and the bedroom offers a large closet. Tiled tub/shower and tile flooring in the bathroom. Laundry connections conveniently located in unit. Prime location with easy access to I-485 and just minutes to the airport, dining, and

Key facts

• $127 HOA
• Built 1973
• Listed 69 days

Property features AI

Finance

• HOA & community: HOA managed by Cedar Management; HOA fees $127.43 monthly

Exterior

• Parking: Parking lot with assigned parking spaces; Other parking - see remarks
• Utilities: City water; Public sewer
• Home design: Residential condominium; One story; Site built
• Construction: Vinyl exterior; Slab foundation
• Exterior features: Covered rear porch

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Five total rooms; Entry on main level
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $114k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $107k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Whitewater Academy (math 25% / reading 28%, grade F, #1,073 of 1,410 statewide, top 77%, 793 students, 100% FRL); West Mecklenburg High School (math 42% / reading 35%, grade F, #403 of 535 statewide, top 76%, 1,207 students, 100% FRL) — zoned schools average 100% FRL vs 49% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 363 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 $788 of loan paydown is wiped out by about $3k 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 69 days — a 6% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

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 $107,160 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 1.24% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.35% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-5,278
• Equity at exit: $16,998

10-year hold

• IRR: 5.8%
• Equity multiple: 1.44×
• Total profit: $14,086
• Equity at exit: $9,857

Cash invested: $31,920 (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 28214

• Home prices YoY: -26.7%
• Rents YoY: 3.4%
• Active inventory: 363
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,408 medium
• Mortgage (P&I): −$598
• Tax est. 1.5%: −$142 /mo · $1,710/yr
• Insurance: −$48
• HOA: −$127
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $198

Break-even live

Break-even rent $1,158

Max offer price $114,000

Occupancy floor 81%

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4008 Fire Creek RD Charlotte, NC	1.0–3.0	1.0–2.0	968	$1,359	$1.40	3d	34	0.97mi

HOA detail condo

• Monthly dues: $127 · $1,524/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $114,000 Active 69 DOM
2. 2026-06-17
   days on market $114,000 Active 68 DOM
3. 2026-06-16
   days on market $114,000 Active 67 DOM
4. 2026-06-15
   days on market $114,000 Active 66 DOM
5. 2026-06-13
   days on market $114,000 Active 64 DOM
6. 2026-06-10
   days on market $114,000 Active 60 DOM
7. 2026-06-08
   days on market $114,000 Active 59 DOM
8. 2026-06-07
   days on market $114,000 Active 58 DOM
9. 2026-06-04
   days on market $114,000 Active 55 DOM
10. 2026-06-03
    days on market $114,000 Active 54 DOM
11. 2026-06-02
    days on market $114,000 Active 53 DOM
12. 2026-06-02
    days on market $114,000 Active 52 DOM
13. 2026-05-31
    days on market $114,000 Active 51 DOM
14. 2026-05-21
    price $114,000
15. 2026-04-10
    listed $115,000 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $16,901
• − Mortgage interest: −$6,386
• − Property taxes: −$1,710
• − Insurance: −$570
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − HOA: −$1,524
• − Depreciation: −$3,316
• Taxable income: $690
• Est. tax owed @ 24.0%: −$166
• After-tax cash flow: $2,208/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, turnkey condo in North Charlotte offers low-maintenance living with rental income already in place. The interior is in good condition with modern updates and a spacious layout.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Rental Replace air filter — Improves air quality and tenant satisfaction

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Rental Replace air filter — Improves air quality and tenant satisfaction ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 43,837
• Household income: $86,447
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 671.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 40% White 30% Hispanic / Latino 18% Two or more races 9% Asian 6%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1% Dominican 1%
• Common ancestry: Serbian 1% Italian 1% Slovak 1%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 77% English-only · Spanish 15% Vietnamese 2% Other Asian/Pacific 2%

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: ▼ -100.82%
• Current HPI: 277.2903
• Rent YoY: ▲ 3.35%
• 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

-0.9% since first listed

2 events — show timeline

• 2026-05-21 Price Changed $114,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-10 Listed $115,000 CANOPYMLS as Distributed by MLS Grid