1121 Myrtle Ave #60 · Charlotte, NC 28203

$210,000

1 bd · 1.0 ba · 560 sqft · Condo public records · 18 Days on market

Built 1940 $340/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 +15.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• DSCR +4.7/10.0
• 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

Fresh, stylish, and move-in ready in the heart of Dilworth! This beautiful second-floor condo offers natural light with a courtyard view and has been thoughtfully renovated with modern finishes. Renovations include refinished original parquet floors, new paint, light fixtures, A/C window unit, and electric heat wall panels. In the kitchen, you’ll find new cabinets, countertops, sink, and appliances. In the bathroom, a new vanity, shower tile, light fixtures, and a mirror. Location is everything, and this historic building has it! Enjoy easy access to nearby dining, shopping, and entertainment in Uptown, South End, and Metropolitan. Don’t wait on this one, it’s a must-see!

Key facts

• New vanity
• New cabinets
• New sink

Tags

• NEW CABINETS
• NEW COUNTERTOPS
• NEW SINK
• NEW APPLIANCES
• NEW VANITY
• NEW SHOWER TILE

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Has HOA (Community Association Mgmt); Mandatory HOA dues; HOA fee $340 monthly

Exterior

• Parking: On-street parking; Parking lot (rear of complex)
• Utilities: City water; Public sewer
• Home design: Residential condominium; Two levels; Entry level listed as 2
• Construction: Site-built construction; Brick exterior; Slab foundation
• Exterior features: Wooded setting; Views; On-street parking available along Myrtle Avenue and a parking lot at the rear of the complex (accessible off Lexington Ave and Oriole Ave)

Interior

• Kitchen: Electric cooktop; Electric oven; Exhaust fan; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heating: Other (see remarks); Cooling: Window unit(s)
• Interior features: 4 total rooms; Entry level is 2
• Laundry & utility: Laundry located in a common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $15 ($175/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% 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: Dilworth Elementary School: Latta Campus (math 76% / reading 74%, grade A, #52 of 1,410 statewide, top 4%, 291 students, 17% FRL); Sedgefield Middle (math 33% / reading 38%, grade F, #279 of 475 statewide, top 60%, 501 students, 99% FRL); Myers Park High School (math 81% / reading 75%, grade A-, #85 of 535 statewide, top 16%, 3,593 students, 26% FRL) — zoned schools at 47% FRL track the district average.
• Zoned-school proficiency averages 63% at this address vs 44% district-wide (+19 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 rising (+1.8%/yr); 134 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 18 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $78k; list at $210k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $206,850 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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. 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?
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: 1.03% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.65%
• DSCR: 1.07
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.8% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.40×
• Total profit: $-35,500
• Equity at exit: $31,312

10-year hold

• IRR: -11.9%
• Equity multiple: 0.33×
• Total profit: $-39,313
• Equity at exit: $18,157

Cash invested: $58,800 (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 28203

• Rents YoY: 1.8%
• Active inventory: 134
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,161 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$97 /mo · $1,169/yr
• Insurance: −$88
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$340
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $15

Break-even live

Break-even rent $2,143

Max offer price $210,000

Occupancy floor 94%

Sensitivity live

Price	-10% $133	-5% $74	+0% $15	+5% $-45	+10% $-104
Rent	-10% $-156	-5% $-71	+0% $15	+5% $100	+10% $185
Rate	-1.0pp $120	-0.5pp $68	base $15	+0.5pp $-40	+1.0pp $-95

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1121 Myrtle Ave Charlotte, NC	2.0	1.0	647	$1,597	$2.47	5d	2	0.03mi
1106 Euclid Ave Charlotte, NC	2.0	1.0–2.0	960	$2,454	$2.56	0d	18	0.17mi
711 E Morehead St Charlotte, NC	2.0	1.0–2.5	1500	$4,368	$2.91	0d	29	0.20mi
615 E Morehead St Charlotte, NC	3.0	1.0–2.0	1306	$4,666	$3.57	0d	67	0.23mi
515 Royal Ct Charlotte, NC	2.0	1.0–2.0	843	$2,500	$2.96	0d	38	0.30mi
650 E Brooklyn Village Ave Charlotte, NC	3.0	1.0–2.0	1021	$2,151	$2.11	0d	29	0.42mi
1133 Harding Pl Charlotte, NC	2.0	1.0–2.0	933	$2,363	$2.53	10d	29	0.42mi
900 E Brooklyn Village Ave Charlotte, NC	3.0	1.0–2.0	1027	$2,035	$1.98	0d	13	0.43mi
550 E Brooklyn Village Ave Charlotte, NC	3.0	1.0–2.0	1156	$2,412	$2.09	0d	52	0.45mi
309 E Morehead St Charlotte, NC	2.0	1.0–3.5	1483	$2,939	$1.98	0d	14	0.49mi
1010 Kenilworth Ave Charlotte, NC	2.0	1.0–2.0	881	$1,837	$2.09	0d	10	0.49mi
1205 S Tryon St Charlotte, NC	2.0	1.0–2.0	785	$1,974	$2.51	0d	16	0.50mi
1312 S College St Charlotte, NC	1.0–3.0	1.0–2.0	1017	$1,764	$1.73	0d	31	0.51mi
400 E Brooklyn Village Ave Charlotte, NC	2.0	1.0–2.0	864	$1,948	$2.26	0d	21	0.53mi
111 E Carson Blvd Charlotte, NC	3.0	1.0–2.5	1369	$6,534	$4.77	0d	108	0.54mi
905 Kenilworth Ave Unit A4B3 Charlotte, NC	1.0	1.0	685	$1,628	$2.38	0d	1	0.57mi
124 E Kingston Ave Charlotte, NC	2.0	1.0–2.0	931	$3,316	$3.56	0d	19	0.59mi
101 W Morehead St Charlotte, NC	2.0	1.0–2.0	857	$2,193	$2.56	0d	9	0.62mi
125 W Park Ave Charlotte, NC	1.0	1.0–1.5	817	$2,480	$3.03	0d	5	0.66mi
1133 Metropolitan Ave #203 Charlotte, NC	1.0	1.0	546	$1,860	$3.41	26d	1	0.67mi
1750 Camden Rd Charlotte, NC	2.0	1.0–2.0	782	$2,094	$2.68	0d	20	0.67mi
135 W Morehead St Charlotte, NC	2.0	1.0–2.0	1085	$2,424	$2.23	4d	22	0.68mi
1449 S Church St Charlotte, NC	2.0	1.0–2.0	857	$1,902	$2.22	0d	17	0.69mi
255 W Bland St Charlotte, NC	3.0	1.0–3.0	965	$2,537	$2.63	0d	35	0.69mi
1351 E Morehead St Charlotte, NC	2.0	1.0–2.5	1540	$3,440	$2.23	0d	28	0.70mi
1510 Scott Ave Charlotte, NC	1.0–3.0	1.0–2.0	947	$1,279	$1.35	0d	15	0.71mi
1320 Fillmore Ave #302 Charlotte, NC	1.0	1.0	595	$1,400	$2.35	20d	1	0.76mi
2025 Cleveland Ave Charlotte, NC	1.0–3.0	1.0–3.0	1242	$2,446	$1.97	0d	21	0.77mi
209 S Kings Dr Unit 1263118P Charlotte, NC	1.0	1.0	672	$4,160	$6.19	18d	2	0.78mi
1315 East Blvd Charlotte, NC	1.0–2.0	1.0–2.0	1040	$1,495	$1.44	13d	2	0.78mi
230 S Tryon St #1002 Charlotte, NC	1.0	1.0	611	$1,895	$3.10	18d	1	0.79mi
1115 S Mint St Charlotte, NC	2.0	1.0–2.0	973	$2,892	$2.97	0d	23	0.79mi
222 West Blvd Charlotte, NC	2.0	1.0–2.0	628	$1,870	$2.98	4d	11	0.80mi
205 S Kings Dr Charlotte, NC	2.0	1.0–2.0	884	$2,014	$2.28	0d	36	0.81mi
1007 S Mint St Charlotte, NC	2.0	1.0–2.5	1049	$2,873	$2.74	4d	94	0.82mi
525 S Church St Charlotte, NC	1.0–2.0	1.0–2.0	1077	$1,828	$1.70	4d	44	0.82mi
2125 Southend Dr Charlotte, NC	1.0	1.0	673	$1,762	$2.62	0d	6	0.84mi
1200 S Mint St Charlotte, NC	2.0	1.0–2.0	781	$1,980	$2.53	0d	23	0.85mi
2100 South Blvd Charlotte, NC	2.0	1.0–2.0	876	$2,616	$2.99	0d	23	0.85mi
255 W Martin Luther King Blvd Charlotte, NC	1.0–2.0	1.0–2.0	921	$1,681	$1.83	0d	20	0.90mi

HOA detail condo

• Monthly dues: $340 · $4,080/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-13
   status Pending
2. 2026-05-10
   price $210,000
3. 2026-04-24
   listed $225,000 Active
4. 2001-02-15
   soldstatus $78,000
5. 1997-03-20
   soldstatus $56,000
6. 1983-03-01
   soldstatus $27,000

ⓘ 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: $1,169 · $97/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$553/yr (+$46/mo · 47.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $25,932
• − Mortgage interest: −$11,763
• − Property taxes: −$1,169
• − Insurance: −$1,847
• − Repairs & maintenance: −$2,075
• − Management: −$2,075
• − HOA: −$4,080
• − Depreciation: −$6,109
• Taxable loss: −$3,186
• Est. tax savings @ 24.0%: +$765
• After-tax cash flow: $939/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): 18,823
• Household income: $104,696
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 1101.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Black 10% Two or more races 5% Hispanic / Latino 5% Asian 4%
• Common ancestry: Romanian 3% Slovak 3% Serbian 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -1410.28%
• Current HPI: 327.5818
• Rent YoY: ▲ 1.80%
• 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

+677.8% since first listed

6 events — show timeline

• 2026-05-13 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-10 Price Changed $210,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-24 Listed $225,000 CANOPYMLS as Distributed by MLS Grid
• 2001-02-15 Sold (Public Records) $78,000 Public Records
• 1997-03-20 Sold (Public Records) $56,000 Public Records
• 1983-03-01 Sold (Public Records) $27,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,169 · +3.0% YoY. Source: county tax records.