3629 Silver Ore Ln · Charlotte, NC 28216

$245,000

3 bd · 2.0 ba · 1,012 sqft · SingleFamily public records · 11 Days on market

Built 2000 3,484 sqft lot Est $248k · at est.

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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 +12.2/30.0
• ARV discount +8.0/15.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• DSCR +3.6/10.0
• Rent growth +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming ranch-style home in the desirable Capps Hill Village is full of potential but needs some work and is being sold as-is. The bright and airy living room features soaring vaulted ceilings and a cozy gas log fireplace. he master suite includes a garden tub and separate shower. This is a fantastic opportunity to personalize your home

Key facts

• 3,484 sq ft lot
• Built 2000
• Listed 10 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway; 4 open parking spaces
• Utilities: City water; Public sewer; Cable available
• Home design: Single-family residence; Site-built construction; One story; Slab foundation; Vinyl exterior
• Construction: Site-built; Vinyl exterior; Slab foundation; Shallow one-level design
• Exterior features: Front porch; Side porch; Patio; Level lot; Asphalt/paved public road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Pantry; Breakfast bar
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic (other); Breakfast bar; Garden tub; Pantry; Walk-in closet(s); 7 total rooms; Fireplace in family room
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry area located in the kitchen on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-48 ($-570/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (22.1% below list).
• Recommended offer: $191k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Oakdale Elementary (math 7% / reading 15%, grade F, #1,378 of 1,410 statewide, top 98%, 462 students, 99% FRL); West Charlotte High School (math 33% / reading 34%, grade F, #436 of 535 statewide, top 82%, 1,538 students, 100% FRL) — zoned schools average 100% FRL vs 49% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 44% district-wide (-22 pts) — the specific schools serving this property underperform the Charlotte-Mecklenburg Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.1%/yr); 463 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 35% 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 $2k of loan paydown is wiped out by about $7k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago; this cycle's ask is 22% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $190,912 (22.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.83%
• DSCR: 0.96
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $247,940
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3716 Capps Hill Dr #19	0.11mi	3/2.0	1,006 (-1%)	2mo	$248,000	$247	93
3600 Braden Dr	0.24mi	3/1.0	1,070 (+6%)	1mo	$287,000	$268	74
3753 Capps Hill Dr	0.16mi	3/2.0	1,077 (+6%)	11mo	$250,000	$232	72
3601 Braden Dr	0.25mi	3/1.0	1,055 (+4%)	8mo	$220,000	$209	71
3623 Braden Dr	0.23mi	3/1.0	1,059 (+5%)	12mo	$285,000	$269	68
3721 Braden Dr	0.24mi	3/1.0	1,051 (+4%)	13mo	$250,000	$238	67
529 Dedmon Dr	0.30mi	3/1.0	1,060 (+5%)	12mo	$260,000	$245	64
615 Milan Rd E	0.34mi	3/1.5	1,100 (+9%)	7mo	$150,000	$136	61
1218 Milan Rd	0.56mi	3/1.0	1,000 (-1%)	8mo	$255,000	$255	61
4213 Rosy Mound Ln	0.58mi	3/2.0	1,048 (+4%)	10mo	$255,000	$243	59
725 Lightspun Ln	0.60mi	3/1.0	1,000 (-1%)	15mo	$193,500	$194	54
719 Lightspun Ln	0.61mi	3/1.0	960 (-5%)	7mo	$244,815	$255	53

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: -18.6%
• Equity multiple: 0.35×
• Total profit: $-44,533
• Equity at exit: $36,530

10-year hold

• IRR: -12.9%
• Equity multiple: 0.27×
• Total profit: $-49,955
• Equity at exit: $21,183

Cash invested: $68,600 (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: 463
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,909 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$169 /mo · $2,026/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-48

Break-even live

Break-even rent $1,969

Max offer price $236,608

Occupancy floor 97%

Sensitivity live

Price	-10% $91	-5% $22	+0% $-48	+5% $-117	+10% $-186
Rent	-10% $-198	-5% $-123	+0% $-48	+5% $28	+10% $103
Rate	-1.0pp $76	-0.5pp $15	base $-48	+0.5pp $-111	+1.0pp $-176

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1604 Black Diamond Ct Charlotte, NC	3.0	2.0	1032	$1,625	$1.57	25d	1	0.07mi
3807 Gold Nugget Ct Charlotte, NC	3.0	2.0	1038	$1,770	$1.71	8d	1	0.09mi
412 Bent Leaf Ct Charlotte, NC	3.0	2.5	1300	$1,789	$1.38	8d	1	0.27mi
3610 Bardot Dr Charlotte, NC	3.0	1.5	1142	$1,735	$1.52	6d	1	0.44mi
3513 Merrill Pl Charlotte, NC	3.0	2.0	1000	$2,200	$2.20	17d	1	0.45mi
818 Dedmon Dr Charlotte, NC	3.0	1.0	1200	$3,400	$2.83	17d	1	0.49mi
3239 Braden Dr Charlotte, NC	4.0	2.0	1308	$1,800	$1.38	23d	1	0.50mi
624 Lightspun Ln Charlotte, NC	3.0	2.5	1280	$1,860	$1.45	21d	1	0.68mi
4940 Hopewood Ln Charlotte, NC	4.0	2.0	1482	$1,829	$1.23	25d	1	0.72mi
2308 Juniper Dr Charlotte, NC	4.0	2.5	1305	$1,799	$1.38	17d	1	0.86mi
1113 Capps Hollow Dr Charlotte, NC	3.0	2.0	1025	$1,629	$1.59	17d	1	0.89mi
5823 Hamilton Oaks Dr Charlotte, NC	3.0	2.0	1074	$1,640	$1.53	6d	1	1.04mi
1509 Crandon Dr Charlotte, NC	3.0	2.0	1100	$1,625	$1.48	25d	1	1.07mi
6202 Suntrace Way Charlotte, NC	3.0	2.0	1185	$1,965	$1.66	6d	1	1.30mi
5313 Abbywood Ln Charlotte, NC	3.0	2.0	1120	$1,650	$1.47	17d	1	1.34mi
2701 Abelwood Rd Charlotte, NC	3.0	1.5	988	$2,000	$2.02	6d	1	1.39mi
2544 Abelwood Rd Charlotte, NC	3.0	1.0	975	$1,495	$1.53	25d	1	1.39mi
3304 Sunset Rd Charlotte, NC	3.0	2.0	1300	$1,720	$1.32	4d	1	1.43mi
4164 Canyon Creek Ln Charlotte, NC	3.0	2.0	1221	$1,880	$1.54	25d	1	1.45mi
2244 English Dr Charlotte, NC	3.0	1.0	962	$1,550	$1.61	25d	1	1.47mi

Listing history 23 events

1. 2026-06-21
   days on market $245,000 Active 11 DOM
2. 2026-06-18
   days on market $245,000 Active 8 DOM
3. 2026-06-17
   days on market $245,000 Active 7 DOM
4. 2026-06-16
   days on market $245,000 Active 6 DOM
5. 2026-06-15
   days on market $245,000 Active 5 DOM
6. 2026-06-13
   statusdays on market $245,000 Active 3 DOM
7. 2026-06-09
   days on market $245,000 Coming Soon 20 DOM
8. 2026-06-08
   days on market $245,000 Coming Soon 19 DOM
9. 2026-06-07
   days on market $245,000 Coming Soon 18 DOM
10. 2026-06-04
    days on market $245,000 Coming Soon 15 DOM
11. 2026-06-03
    days on market $245,000 Coming Soon 14 DOM
12. 2026-06-02
    days on market $245,000 Coming Soon 13 DOM
13. 2026-06-02
    days on market $245,000 Coming Soon 12 DOM
14. 2026-05-31
    days on market $245,000 Coming Soon 11 DOM
15. 2026-05-20
    historical $245,000
16. 2026-03-30
    soldstatus $215,000 Closed 345-char remark

    Show marketing remark (345 chars)

    This charming ranch-style home in the desirable Capps Hill Village is full of potential but needs some work and is being sold as-is. The bright and airy living room features soaring vaulted ceilings and a cozy gas log fireplace. he master suite includes a garden tub and separate shower. This is a fantastic opportunity to personalize your home

17. 2026-03-30
    soldstatus $215,000

    Show marketing remark (345 chars)

    This charming ranch-style home in the desirable Capps Hill Village is full of potential but needs some work and is being sold as-is. The bright and airy living room features soaring vaulted ceilings and a cozy gas log fireplace. he master suite includes a garden tub and separate shower. This is a fantastic opportunity to personalize your home

18. 2026-02-23
    historical Active Under Contract 345-char remark

    Show marketing remark (345 chars)

    This charming ranch-style home in the desirable Capps Hill Village is full of potential but needs some work and is being sold as-is. The bright and airy living room features soaring vaulted ceilings and a cozy gas log fireplace. he master suite includes a garden tub and separate shower. This is a fantastic opportunity to personalize your home

19. 2026-02-16
    listed $200,000 Active 345-char remark

    Show marketing remark (345 chars)

    This charming ranch-style home in the desirable Capps Hill Village is full of potential but needs some work and is being sold as-is. The bright and airy living room features soaring vaulted ceilings and a cozy gas log fireplace. he master suite includes a garden tub and separate shower. This is a fantastic opportunity to personalize your home

20. 2016-12-22
    soldstatus $102,500 Closed 218-char remark

    Show marketing remark (218 chars)

    Charming , cute, NEAT , & in move -in condition - Arched doorway - low yard maintenance - only minutes from I-85 & I-77 - vaulted ceiling in living room - good-size kitchen - master suite with garden tub --

21. 2016-12-22
    soldstatus $102,500

    Show marketing remark (218 chars)

    Charming , cute, NEAT , & in move -in condition - Arched doorway - low yard maintenance - only minutes from I-85 & I-77 - vaulted ceiling in living room - good-size kitchen - master suite with garden tub --

22. 2016-11-10
    historical Under Contract - Show 218-char remark

    Show marketing remark (218 chars)

    Charming , cute, NEAT , & in move -in condition - Arched doorway - low yard maintenance - only minutes from I-85 & I-77 - vaulted ceiling in living room - good-size kitchen - master suite with garden tub --

23. 2016-10-22
    listed $104,900 Active 218-char remark

    Show marketing remark (218 chars)

    Charming , cute, NEAT , & in move -in condition - Arched doorway - low yard maintenance - only minutes from I-85 & I-77 - vaulted ceiling in living room - good-size kitchen - master suite with garden tub --

ⓘ 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: $2,026 · $169/mo
• Projected year-2 tax: $2,026 · $169/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: $22,909
• − Mortgage interest: −$13,724
• − Property taxes: −$2,026
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − Depreciation: −$7,127
• Taxable loss: −$4,858
• Est. tax savings @ 24.0%: +$1,166
• After-tax cash flow: $596/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

+133.6% since first listed

9 events — show timeline

• 2026-05-20 Coming Soon $245,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-30 Sold (Public Records) $215,000 Public Records
• 2026-03-30 Sold (MLS) $215,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-23 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-02-16 Listed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2016-12-22 Sold (Public Records) $102,500 Public Records
• 2016-12-22 Sold (MLS) $102,500 CANOPYMLS as Distributed by MLS Grid
• 2016-11-10 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2016-10-22 Listed $104,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2025): $2,026 · +2.2% YoY. Source: county tax records.