3532 N Sharon Amity Rd · Charlotte, NC 28205

$1,375,000

1 bd · 121.0 ba · 2,929 sqft · MultiFamily public records · 41 Days on market

Built 1962 0.58 ac lot

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 11 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

This two-building, 11-unit multifamily asset sits on an approximately 0.57-acre site along North Sharon Amity Road in Charlotte's rapidly growing East Charlotte submarket, benefiting from strong visibility along a high-traffic corridor with over 25,000 vehicles per day. The property has undergone recent renovations and presents an immediate value-creation opportunity through the lease-up of vacant units and continued interior upgrades. Strategically positioned minutes from Plaza Midwood, NoDa, and Uptown Charlotte, the asset is surrounded by a dense mix of daily-needs retailers including Food Lion, Walgreens, CVS, Family Dollar, and Bojangles, supporting strong tenant demand and long-term o

Key facts

• Strong visibility
• Recent renovations
• Strong tenant demand

Tags

• RECENT RENOVATIONS
• HIGH-TRAFFIC CORRIDOR
• STRONG VISIBILITY
• SURROUNDED BY RETAILERS
• STRONG TENANT DEMAND
• ROBUST RESIDENTIAL BASE

Property features AI

Finance

• Financial info: Tenant pays all utilities; Owner pays: none specified
• HOA & community: No HOA; Pets allowed

Exterior

• Parking: Parking lot (no main-level garage)
• Utilities: City water; Public sewer
• Home design: Residential income property (apartment); Zoning: N2-B
• Construction: Site-built construction; Full brick exterior; Slab foundation
• Exterior features: Publicly maintained paved asphalt road access; 0.58-acre lot

Interior

• Kitchen: No kitchen appliances specified
• Bedrooms: 11 total bedrooms; All units are 1-bedroom units (11 units total)
• Bathrooms: 11 full bathrooms
• Heating & cooling: No central heating specified; Window units for cooling
• Interior features: No built-in appliances listed; Basement: Other
• Laundry & utility: No laundry features specified

What this means for you Summary

Snapshot

• This is a 11 × 2-bed/1.0-bath units multifamily listed at $1.38M.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive. Per door: $360/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.38M).
• Recommended offer: $1.33M (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 (+1.7%/yr); 431 active listings in the ZIP; solid renter incomes; 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).
• At $15,751/mo this rent would consume 250% of the median local household income ($76k/yr) (locally 3141% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $41k 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 41 days — a 3% lower offer ($1.33M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $875k; list at $1.38M implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $1,333,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.15% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.34%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.66% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $7,904
• Equity at exit: $205,017

10-year hold

• IRR: 8.9%
• Equity multiple: 1.64×
• Total profit: $246,166
• Equity at exit: $118,885

Cash invested: $385,000 (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 28205

• Rents YoY: 1.7%
• Active inventory: 431
• Price-to-rent: 80.0×

Monthly cashflow live

• Estimated rent: $15,751 medium
• Mortgage (P&I): −$7,211
• Tax from tax record: −$702 /mo · $8,426/yr
• Insurance: −$573
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,308
• Net cashflow: $3,958

Break-even live

Break-even rent $10,741

Max offer price $1,375,000

Occupancy floor 70%

11-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 11× units	2	1	$15,752
Total (11 units)			$15,751

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: $343,750
• Closing costs: $41,250
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-04
   status Pending
2. 2026-03-24
   listed $1,375,000 Active
3. 2021-02-19
   soldstatus $875,000
4. 2006-04-12
   soldstatus $285,000

ⓘ 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: $8,426 · $702/mo
• Projected year-2 tax: $11,275 · $940/mo
• Expected delta: +$2,849/yr (+$237/mo · 33.8%)

ⓘ 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 6/10 Major 27% 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: $189,012
• − Mortgage interest: −$77,021
• − Property taxes: −$8,426
• − Insurance: −$6,875
• − Repairs & maintenance: −$15,121
• − Management: −$15,121
• − Depreciation: −$40,000
• Taxable income: $26,448
• Est. tax owed @ 24.0%: −$6,347
• After-tax cash flow: $41,143/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): 51,806
• Household income: $75,622
• Rent vs Own: 57.5% rent · 42.5% own
• Severe rent burden: 3141.0

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 0.69)
• Race & ethnicity: White 45% Black 24% Hispanic / Latino 22% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 20% · Canada, Vietnam
• Languages at home: 74% English-only · Spanish 17% Vietnamese 2% Other Asian/Pacific 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: ▼ -689.14%
• Current HPI: 341.839
• Rent YoY: ▲ 1.66%
• 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

+382.5% since first listed

4 events — show timeline

• 2026-05-04 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-03-24 Listed $1,375,000 CANOPYMLS as Distributed by MLS Grid
• 2021-02-19 Sold (Public Records) $875,000 Public Records
• 2006-04-12 Sold (Public Records) $285,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $8,426 · +56.5% YoY. Source: county tax records.