1101 W 1st St #307 · Charlotte, NC 28202

$315,000

2 bd · 2.0 ba · 971 sqft · Condo public records · 141 Days on market

Built 2007

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +5.8/10.0
• Cash flow +5.7/30.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Rent growth +1.7/5.0
• DSCR +0.1/10.0

Listing remarks MLS

All of Charlotte at your doorstep with the city in front of you and abundant green spaces around you. This is your 3rd Ward sanctuary! 2 bedrooms, and 2 full renovated bathrooms neatly arranged around the large open living room giving you both form & function. With a South-facing unit, you get a beautiful blend of sun and shade, perfect for enjoying the balcony (with stadium and city views) year round. Greenways, parks, sport courts, dog parks, coffee shops, and breweries all nearby for endless adventures and entertainment. Building is secured with key fob access and garage door remote for quick and convenient access with peace of mind security. Grill out in the evening with one of the gas grills out in the courtyard, and enjoy the green space that surrounds.

Key facts

• Key fob access
• Large balcony
• Walk in closet

Tags

• ABUNDANT GREEN SPACES
• FULLY RENOVATED BATHROOM
• WALK IN CLOSET
• LARGE BALCONY
• FULLY SECURED PARKING GARAGE
• KEY FOB ACCESS

Property features AI

Finance

• HOA & community: HOA required; Gated community; Picnic area; Street lights

Exterior

• Parking: 1 assigned parking space; On-street parking available; Parking garage access
• Utilities: City water; Public sewer
• Home design: Residential condominium; Site-built construction; One-story layout; Elevator access; Zoning: MUDD
• Construction: Brick full exterior; Slab foundation
• Exterior features: Balcony; Gas grill; Lawn maintenance provided; Road is paved and publicly maintained

Interior

• Kitchen: Electric water heater
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 2 full bathrooms (on the main level)
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Breakfast bar; Split bedroom layout; Walk-in closets; 7 total rooms; Entry on level 3
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $315k.

Deal economics

• At list price, monthly cash flow is $-643 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (29.4% below list).
• Recommended offer: $222k (29.4% below list) — sets the bar for 1% rule.
• Cap rate 3.8% vs local median 3.1% in Charlotte — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 falling (-3.3%/yr); 160 active listings in the ZIP; 40 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).

Forward outlook

• In year one you build about $7k of equity ($2k loan paydown + $5k appreciation (1.6% local appreciation)).
• Mecklenburg County population projected at +53% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $35k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $222,492 (29.4% 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. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
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. 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?
10. 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.
11. 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.
12. 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: 0.71% ✗
• Cap rate: 3.84%
• Cash-on-cash: -8.75%
• DSCR: 0.61
• GRM: 11.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.59% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.63×
• Total profit: $-32,254
• Equity at exit: $117,305

10-year hold

• IRR: -3.1%
• Equity multiple: 0.61×
• Total profit: $-34,612
• Equity at exit: $163,743

Cash invested: $88,200 (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 28202

• Home prices YoY: 0.8%
• Rents YoY: -3.3%
• Active inventory: 160
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,225 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$228 /mo · $2,735/yr
• Insurance: −$131
• HOA est. from 4 same-building comps: −$390
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-643

Break-even live

Break-even rent $3,039

Max offer price $201,341

Occupancy floor —

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1101 W 1st St Charlotte, NC	2.0	2.0	1014	$2,022	$1.99	15d	1	0.03mi
300 S Cedar St #2 Charlotte, NC	1.0	1.0	800	$1,900	$2.38	15d	1	0.24mi
600 Calvert St Charlotte, NC	1.0	1.0	725	$1,399	$1.93	24d	1	0.24mi
244 S Cedar St #4 Charlotte, NC	1.0	1.0	566	$1,600	$2.83	24d	1	0.25mi
902 W 4th St Charlotte, NC	2.0	1.0–2.0	837	$1,861	$2.22	2d	20	0.27mi
630 Calvert St Charlotte, NC	1.0–2.0	1.5–2.0	1080	$1,945	$1.80	5d	1	0.29mi
105 S Summit Ave Charlotte, NC	2.0	2.0	1046	$2,200	$2.10	24d	1	0.33mi
1005 W Trade St Charlotte, NC	2.0–3.0	2.0	1175	$1,625	$1.38	2d	7	0.33mi
1331 W Morehead St Charlotte, NC	1.0	2.0	1063	$2,237	$2.10	4d	1	0.40mi
1010 W Trade St Charlotte, NC	1.0–2.0	1.0–2.0	983	$2,129	$2.16	2d	20	0.41mi
360 S Graham St Charlotte, NC	2.0	1.0–2.0	905	$2,551	$2.82	2d	20	0.42mi
444 Walnut Ave Charlotte, NC	1.0	1.0	1000	$1,595	$1.59	8d	1	0.44mi
401 S Graham St Charlotte, NC	2.0	1.0–2.0	907	$3,909	$4.31	2d	15	0.44mi
718 W Trade St #210 Charlotte, NC	2.0	1.0	825	$1,995	$2.42	24d	1	0.45mi
718 W Trade St Charlotte, NC	1.0	1.0	779	$1,550	$1.99	15d	1	0.45mi
718 W Trade St #104 Charlotte, NC	1.0	1.0	630	$1,800	$2.86	24d	1	0.45mi
718 W Trade St #606 Charlotte, NC	1.0	1.0	779	$1,550	$1.99	24d	1	0.45mi
1630 Walnut View Dr Charlotte, NC	2.0	2.0	912	$1,550	$1.70	24d	1	0.45mi
710 W Trade St #312 Charlotte, NC	1.0	1.0	811	$1,650	$2.03	24d	1	0.48mi
413 Heathcliff St Charlotte, NC	1.0	1.0	1000	$790	$0.79	24d	1	0.49mi
735 W 5th St Charlotte, NC	2.0	1.0–2.0	846	$1,845	$2.18	2d	36	0.51mi
724 Walnut Ave Unit 1 Charlotte, NC	1.0	1.0	673	$2,350	$3.49	24d	1	0.51mi
1007 S Mint St Charlotte, NC	2.0	1.0–2.5	1049	$4,046	$3.86	2d	94	0.56mi
425 W Trade St Charlotte, NC	1.0–2.0	1.0–2.0	953	$2,416	$2.54	2d	18	0.57mi
355 W Martin Luther King Blvd Charlotte, NC	2.0	1.0–2.5	960	$3,239	$3.37	2d	51	0.58mi
500 W Trade St Charlotte, NC	3.0	1.0–2.0	1073	$3,242	$3.02	2d	37	0.58mi
910 Walnut Ave Charlotte, NC	1.0–2.0	1.0–2.0	921	$1,895	$2.06	3d	6	0.59mi
1200 S Mint St Charlotte, NC	2.0	1.0–2.0	781	$2,694	$3.45	3d	23	0.61mi
1115 S Mint St Charlotte, NC	2.0	1.0–2.0	951	$4,243	$4.46	3d	23	0.61mi
255 W Martin Luther King Blvd Charlotte, NC	1.0	1.0	814	$1,944	$2.39	2d	19	0.61mi
225 S Poplar St Charlotte, NC	2.0	1.0–2.0	928	$3,677	$3.96	2d	34	0.63mi
520 W 5th St Charlotte, NC	2.0	1.0–2.0	938	$2,069	$2.21	2d	20	0.63mi
525 S Church St Charlotte, NC	1.0–2.0	1.0–2.0	1077	$4,182	$3.88	2d	44	0.63mi
425 W 5th St Charlotte, NC	3.0–4.0	2.0	1195	$1,838	$1.54	2d	32	0.64mi
333 W Trade St Charlotte, NC	1.0–2.0	1.0–2.0	892	$2,450	$2.75	8d	3	0.64mi
215 N Pine St Charlotte, NC	3.0	1.0–3.0	1663	$5,423	$3.26	2d	50	0.66mi
135 W Morehead St Charlotte, NC	2.0	1.0–2.0	1085	$3,372	$3.11	2d	22	0.69mi
312 N Graham St Charlotte, NC	3.0	1.0–2.0	1125	$3,025	$2.69	5d	93	0.73mi
300 W 5th St Charlotte, NC	1.0–2.0	1.0–2.0	876	$2,595	$2.96	5d	5	0.74mi
300 W 5th St Charlotte, NC	1.0–2.0	1.0–2.0	1035	$3,295	$3.18	2d	6	0.74mi

HOA detail condo

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

Listing history 29 events

1. 2026-06-18
   days on market $315,000 Active 141 DOM
2. 2026-06-17
   days on market $315,000 Active 140 DOM
3. 2026-06-16
   days on market $315,000 Active 139 DOM
4. 2026-06-15
   days on market $315,000 Active 138 DOM
5. 2026-06-13
   days on market $315,000 Active 136 DOM
6. 2026-06-10
   days on market $315,000 Active 132 DOM
7. 2026-06-08
   days on market $315,000 Active 131 DOM
8. 2026-06-07
   days on market $315,000 Active 130 DOM
9. 2026-06-04
   days on market $315,000 Active 127 DOM
10. 2026-06-03
    days on market $315,000 Active 126 DOM
11. 2026-06-02
    days on market $315,000 Active 125 DOM
12. 2026-06-02
    days on market $315,000 Active 124 DOM
13. 2026-05-31
    days on market $315,000 Active 123 DOM
14. 2026-05-21
    price $315,000
15. 2026-03-27
    price $325,000
16. 2026-03-06
    price $335,000
17. 2026-01-28
    listed $350,000 Active
18. 2024-05-22
    price $350,000
19. 2024-05-03
    listed $375,000 Active
20. 2024-05-02
    historical
21. 2021-11-01
    soldstatus $310,000 Closed 774-char remark

    Show marketing remark (774 chars)

    All of Charlotte at your doorstep with the city in front of you and abundant green spaces around you. This is your 3rd Ward sanctuary! 2 bedrooms, and 2 full renovated bathrooms neatly arranged around the large open living room giving you both form & function. With a South-facing unit, you get a beautiful blend of sun and shade, perfect for enjoying the balcony (with stadium and city views) year round. Greenways, parks, sport courts, dog parks, coffee shops, and breweries all nearby for endless adventures and entertainment. Building is secured with key fob access and garage door remote for quick and convenient access with peace of mind security. Grill out in the evening with one of the gas grills out in the courtyard, and enjoy the green space that surrounds.

22. 2021-11-01
    soldstatus $310,000

    Show marketing remark (774 chars)

    All of Charlotte at your doorstep with the city in front of you and abundant green spaces around you. This is your 3rd Ward sanctuary! 2 bedrooms, and 2 full renovated bathrooms neatly arranged around the large open living room giving you both form & function. With a South-facing unit, you get a beautiful blend of sun and shade, perfect for enjoying the balcony (with stadium and city views) year round. Greenways, parks, sport courts, dog parks, coffee shops, and breweries all nearby for endless adventures and entertainment. Building is secured with key fob access and garage door remote for quick and convenient access with peace of mind security. Grill out in the evening with one of the gas grills out in the courtyard, and enjoy the green space that surrounds.

23. 2021-09-21
    historical Active Under Contract 774-char remark

    Show marketing remark (774 chars)

    All of Charlotte at your doorstep with the city in front of you and abundant green spaces around you. This is your 3rd Ward sanctuary! 2 bedrooms, and 2 full renovated bathrooms neatly arranged around the large open living room giving you both form & function. With a South-facing unit, you get a beautiful blend of sun and shade, perfect for enjoying the balcony (with stadium and city views) year round. Greenways, parks, sport courts, dog parks, coffee shops, and breweries all nearby for endless adventures and entertainment. Building is secured with key fob access and garage door remote for quick and convenient access with peace of mind security. Grill out in the evening with one of the gas grills out in the courtyard, and enjoy the green space that surrounds.

24. 2021-09-16
    listed $312,500 Active 774-char remark

    Show marketing remark (774 chars)

    All of Charlotte at your doorstep with the city in front of you and abundant green spaces around you. This is your 3rd Ward sanctuary! 2 bedrooms, and 2 full renovated bathrooms neatly arranged around the large open living room giving you both form & function. With a South-facing unit, you get a beautiful blend of sun and shade, perfect for enjoying the balcony (with stadium and city views) year round. Greenways, parks, sport courts, dog parks, coffee shops, and breweries all nearby for endless adventures and entertainment. Building is secured with key fob access and garage door remote for quick and convenient access with peace of mind security. Grill out in the evening with one of the gas grills out in the courtyard, and enjoy the green space that surrounds.

25. 2018-04-17
    soldstatus $229,000 Closed
26. 2018-04-17
    soldstatus $229,000
27. 2018-02-27
    status Under Contract - No Show
28. 2018-02-27
    listed $232,500 Active
29. 2017-05-12
    soldstatus $235,000

ⓘ 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: $2,735 · $228/mo
• Projected year-2 tax: $2,735 · $228/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 6/10 Major FEMA zone X (unshaded) · 27% 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 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: $26,699
• − Mortgage interest: −$17,645
• − Property taxes: −$2,735
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,136
• − Management: −$2,136
• − HOA: −$4,680
• − Depreciation: −$9,164
• Taxable loss: −$13,372
• Est. tax savings @ 24.0%: +$3,209
• After-tax cash flow: $-4,512/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): 17,653
• Household income: $105,889
• Rent vs Own: 71.4% rent · 28.6% own
• Severe rent burden: 1638.0

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 0.66)
• Race & ethnicity: White 52% Black 23% Hispanic / Latino 12% Two or more races 10% Asian 7%
• Hispanic origin (detail): Mexican 3% Cuban 4%
• Common ancestry: Romanian 3% Slovak 2% Serbian 2%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 2% Chinese 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: ▲ 1.59%
• Current HPI: 211.2231
• Rent YoY: ▼ -3.28%
• 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

+34.0% since first listed

16 events — show timeline

• 2026-05-21 Price Changed $315,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $325,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $335,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-28 Listed $350,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-22 Price Changed $350,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-03 Listed $375,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-02 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2021-11-01 Sold (Public Records) $310,000 Public Records
• 2021-11-01 Sold (MLS) $310,000 CANOPYMLS as Distributed by MLS Grid
• 2021-09-21 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2021-09-16 Listed $312,500 CANOPYMLS as Distributed by MLS Grid
• 2018-04-17 Sold (Public Records) $229,000 Public Records
• 2018-04-17 Sold (MLS) $229,000 CANOPYMLS as Distributed by MLS Grid
• 2018-02-27 Pending — CANOPYMLS as Distributed by MLS Grid
• 2018-02-27 Listed $232,500 CANOPYMLS as Distributed by MLS Grid
• 2017-05-12 Sold (Public Records) $235,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $2,735 · +1.6% YoY. Source: county tax records.