6223 Rosecroft Dr · Charlotte, NC 28215

$140,000

2 bd · 2.0 ba · 1,100 sqft · Condo public records · 1 Days on market

Built 1987

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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
• Cash flow +7.4/30.0
• 1% rule +4.9/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Grab this updated condo while you can! This unit is near the University area and a few minutes drive to Uptown. You can move in quickly or have a tenant lease the place. Worry free new LVP flooring installed. Enjoy the new stainless steel kitchen appliances as well as freshly painted walls, ceilings and cabinets. The new Trane HVAC system installed in 2020 assures years of comfort. The electric water heater have new heating elements for long hot showers.

Key facts

• Private balcony
• Ample cabinet space
• Breakfast bar

Tags

• OPEN-CONCEPT LAYOUT
• STAINLESS STEEL APPLIANCES
• AMPLE CABINET SPACE
• BREAKFAST BAR
• PRIVATE BALCONY

Property features AI

Finance

• HOA & community: Homeowners association required

Exterior

• Parking: Parking spaces available
• Utilities: City water; Public sewer
• Home design: Residential condominium; One story
• Construction: Site-built construction; Vinyl exterior; Slab foundation
• Exterior features: Concrete and paved road access; Publicly maintained road

Interior

• Kitchen: Dishwasher
• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Seven total rooms; Entry level is main
• Laundry & utility: Laundry located inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (1.3% below list).
• Recommended offer: $138k (1.3% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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: 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: Rocky River High School (math 31% / reading 35%, grade F, #438 of 535 statewide, top 82%, 1,643 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 565 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $968 of loan paydown is wiped out by about $4k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• 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 $138,136 (1.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.99% ✗
• Cap rate: 4.74%
• Cash-on-cash: -5.54%
• DSCR: 0.75
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.76% rent growth · sell at horizon

5-year hold

• IRR: -27.5%
• Equity multiple: 0.09×
• Total profit: $-35,707
• Equity at exit: $20,874

10-year hold

• IRR: -32.2%
• Equity multiple: -0.32×
• Total profit: $-51,903
• Equity at exit: $12,105

Cash invested: $39,200 (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 28215

• Rents YoY: 1.8%
• Active inventory: 565
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$734
• Tax from tax record: −$100 /mo · $1,197/yr
• Insurance: −$58
• HOA est. from 2 same-building comps: −$380
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-181

Break-even live

Break-even rent $1,610

Max offer price $108,030

Occupancy floor —

Sensitivity live

Price	-10% $-102	-5% $-141	+0% $-181	+5% $-221	+10% $-260
Rent	-10% $-290	-5% $-236	+0% $-181	+5% $-126	+10% $-72
Rate	-1.0pp $-110	-0.5pp $-145	base $-181	+0.5pp $-217	+1.0pp $-254

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6133 Meadow Rose Ln Charlotte, NC	2.0	2.0	846	$1,250	$1.48	25d	1	0.03mi
6133 Meadow Rose Ln Charlotte, NC	2.0	2.0	846	$1,250	$1.48	15d	1	0.03mi
6125 Meadow Rose Ln Charlotte, NC	2.0	2.0	918	$1,250	$1.36	23d	1	0.04mi
6158 Meadow Rose Ln Unit 1 Charlotte, NC	2.0	2.0	834	$1,200	$1.44	12d	1	0.04mi
6156 Meadow Rose Ln Charlotte, NC	2.0	2.0	846	$1,250	$1.48	23d	1	0.05mi
6158 Meadow Rose Ln Charlotte, NC	2.0	2.0	834	$1,250	$1.50	12d	1	0.05mi
6164 Meadow Rose Ln Charlotte, NC	2.0	2.0	881	$1,250	$1.42	25d	1	0.06mi
6164 Meadow Rose Ln Charlotte, NC	2.0	2.0	881	$1,250	$1.42	6d	1	0.06mi
6142 Meadow Rose Ln Charlotte, NC	2.0	2.0	941	$1,225	$1.30	25d	1	0.06mi
6116 Meadow Rose Ln Charlotte, NC	1.0	1.0	956	$695	$0.73	25d	1	0.07mi
6116 Meadow Rose Ln Charlotte, NC	1.0	1.0	956	$725	$0.76	3d	1	0.07mi
7234 Rose Terrace Ct Unit 7242 Charlotte, NC	2.0	2.0	1000	$1,450	$1.45	25d	1	0.09mi
7264 Rose Terrace Ct Charlotte, NC	2.0	2.0	1000	$1,375	$1.38	6d	6	0.12mi
6017 Williams Rd Charlotte, NC	3.0	1.0–2.0	877	$1,567	$1.79	25d	1	0.21mi
4306 Tantilla Cir Charlotte, NC	2.0	1.0	777	$1,165	$1.50	25d	1	0.33mi
4540 Tantilla Cir Charlotte, NC	1.0–2.0	1.0–2.0	748	$1,350	$1.80	9d	4	0.52mi
7000 Barrington Dr Unit 2500-03 Charlotte, NC	2.0	1.5	945	$1,410	$1.49	25d	1	0.56mi
6103 Guildford Hill Ln Charlotte, NC	1.0	1.0	1475	$595	$0.40	25d	1	0.57mi
6103 Guildford Hill Ln Charlotte, NC	1.0	1.0	1475	$705	$0.48	0d	1	0.57mi
6050 Guildford Hill Ln Charlotte, NC	3.0	2.5	1429	$1,795	$1.26	25d	1	0.58mi
4122 Birch Leaf Ct Unit 202 Charlotte, NC	2.0	2.5	1320	$1,599	$1.21	12d	1	0.59mi
7000 Barrington Dr Charlotte, NC	1.0–3.0	1.0–1.5	997	$1,290	$1.29	0d	5	0.60mi
7000 Barrington Dr Unit 2703-08 Charlotte, NC	2.0	1.5	945	$1,160	$1.23	6d	1	0.61mi
7000 Barrington Dr Unit L2615-05 Charlotte, NC	1.0	1.0	756	$980	$1.30	16d	1	0.61mi
7000 Barrington Dr Unit 2500-10 Charlotte, NC	2.0	1.5	945	$1,410	$1.49	9d	1	0.61mi
7000 Barrington Dr Unit 2621-03 Charlotte, NC	1.0	1.0	756	$1,120	$1.48	25d	1	0.61mi
7000 Barrington Dr Unit L2705-01 Charlotte, NC	3.0	1.5	1320	$1,600	$1.21	16d	1	0.61mi
7000 Barrington Dr Unit 7101-05 Charlotte, NC	1.0	1.0	756	$980	$1.30	25d	1	0.61mi
7113 Village Green Dr Charlotte, NC	1.0–2.0	1.0	710	$1,175	$1.65	3d	8	0.64mi
4417 Sharon Chase Dr Unit A Charlotte, NC	2.0	2.0	929	$1,299	$1.40	17d	1	0.65mi
4908 Endolwood Rd Charlotte, NC	1.0–2.0	1.0–2.0	775	$1,405	$1.81	0d	26	0.66mi
6227 Windsor Gate Ln Charlotte, NC	2.0	2.0	1072	$1,600	$1.49	25d	1	0.69mi
4408 Sharon Chase Dr Charlotte, NC	1.0	1.0	992	$730	$0.74	17d	1	0.71mi
4617 Sharon Chase Dr Unit H Charlotte, NC	2.0	2.0	908	$1,395	$1.54	25d	1	0.76mi
2635 Clover Hill Ln Charlotte, NC	3.0	1.5	1281	$2,200	$1.72	25d	1	0.77mi
6330 Windsor Gate Ln Charlotte, NC	2.0	1.5	924	$1,450	$1.57	25d	1	0.77mi
6332 Windsor Gate Ln Charlotte, NC	2.0	2.5	1100	$1,500	$1.36	19d	1	0.77mi
4608 Sharon Chase Dr Unit C Charlotte, NC	3.0	2.0	1062	$1,700	$1.60	17d	1	0.78mi
5625 Keyway Blvd Charlotte, NC	1.0–2.0	1.0–2.0	783	$1,360	$1.74	0d	15	0.83mi
6714 Marston Ct Charlotte, NC	3.0	2.0	1208	$1,600	$1.32	25d	1	0.94mi

HOA detail condo

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

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $1,197 · $100/mo
• Projected year-2 tax: $1,197 · $100/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 ≥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: $16,576
• − Mortgage interest: −$7,842
• − Property taxes: −$1,197
• − Insurance: −$700
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − HOA: −$4,560
• − Depreciation: −$4,073
• Taxable loss: −$4,448
• Est. tax savings @ 24.0%: +$1,067
• After-tax cash flow: $-1,104/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): 66,674
• Household income: $71,162
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 1952.0

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: Black 50% Hispanic / Latino 23% White 21% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1% Dominican 1%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 73% English-only · Spanish 19% French/Haitian/Cajun 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: ▼ -201.15%
• Current HPI: 286.5413
• Rent YoY: ▲ 1.76%
• 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

+150.0% since first listed

8 events — show timeline

• 2021-07-13 Sold (Public Records) $132,500 Public Records
• 2021-07-13 Sold (MLS) $132,500 CANOPYMLS as Distributed by MLS Grid
• 2021-06-29 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2021-06-27 Listed $125,000 CANOPYMLS as Distributed by MLS Grid
• 2016-01-04 Sold (Public Records) $45,000 Public Records
• 2006-12-01 Sold (Public Records) $56,500 Public Records
• 2004-03-08 Sold (Public Records) $60,000 Public Records
• 1996-11-27 Sold (Public Records) $53,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,197 · +2.9% YoY. Source: county tax records.