2620 Celia Ave · Charlotte, NC 28216

$130,000

1 bd · 1.0 ba · 572 sqft · SingleFamily public records · 114 Days on market

Built 1958 6,969 sqft lot

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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 +16.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• 1% rule +3.7/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity or ideal starter home just minutes from South End, Plaza Midwood, and Uptown Charlotte in Biddle Park! This 2-bedroom, 2-bath property offers unbeatable location with convenient access to I-77 and I-85, making commuting and city living effortless. Whether you’re looking to renovate, hold as a rental, or explore a possible new construction opportunity, this property presents strong upside in a rapidly growing area. Don’t miss your chance to secure a property with location, flexibility, and future potential!

Key facts

• 6,969 sq ft lot
• Built 1958
• Listed 114 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway; On-street parking
• Utilities: City water; Public sewer
• Home design: Single-family residence; One story
• Construction: Site-built construction; Vinyl exterior; Crawl space foundation; Shingle roof (not explicitly listed but typical for vinyl construction)
• Exterior features: Located in a flood plain/bottom land area; Other lot characteristics noted in remarks; Concrete and paved roads; Publicly maintained road

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: 6 total rooms; Refrigerator included
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $13 ($153/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (12.6% below list).
• Recommended offer: $114k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Briarwood Academy (math 28% / reading 22%, grade F, #1,101 of 1,410 statewide, top 79%, 655 students, 99% FRL); Ranson Middle (math 12% / reading 18%, grade F, #459 of 475 statewide, top 97%, 817 students, 100% 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 24% at this address vs 44% district-wide (-20 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); 462 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $899 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

• It's been on market 114 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1958 — 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 $113,650 (12.6% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.87% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.08% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.42×
• Total profit: $-21,288
• Equity at exit: $19,383

10-year hold

• IRR: -10.2%
• Equity multiple: 0.41×
• Total profit: $-21,657
• Equity at exit: $11,240

Cash invested: $36,400 (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: 462
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,136 high
• Mortgage (P&I): −$682
• Tax from tax record: −$83 /mo · $993/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $13

Break-even live

Break-even rent $1,120

Max offer price $130,000

Occupancy floor 94%

Sensitivity live

Price	-10% $86	-5% $50	+0% $13	+5% $-24	+10% $-61
Rent	-10% $-77	-5% $-32	+0% $13	+5% $58	+10% $103
Rate	-1.0pp $78	-0.5pp $46	base $13	+0.5pp $-21	+1.0pp $-55

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2620 Celia Ave Charlotte, NC	1.0	1.0	650	$695	$1.07	0d	1	0.03mi
2605 Remington St Charlotte, NC	2.0	1.0	696	$1,100	$1.58	22d	1	0.21mi
2021 Lasalle St Charlotte, NC	2.0	1.0	653	$1,200	$1.84	25d	1	0.69mi
2204 Catherine Simmons Ave Unit B Charlotte, NC	2.0	2.0	652	$950	$1.46	22d	1	0.70mi
2220 Custer St Unit 2 Charlotte, NC	2.0	1.0	654	$1,095	$1.67	25d	1	0.75mi
1935 Irma St Charlotte, NC	2.0	1.0	680	$1,295	$1.90	9d	1	0.81mi
2030 W Trade St Charlotte, NC	1.0	1.0	564	$2,200	$3.90	25d	1	0.84mi
725 Savona Mill Ln Charlotte, NC	3.0	1.0–2.5	1372	$1,975	$1.44	0d	13	1.04mi
1732 Newland Rd Charlotte, NC	2.0	1.0	696	$1,125	$1.62	23d	1	1.07mi
422 State St Unit 5 Charlotte, NC	2.0	1.5	587	$1,575	$2.68	4d	1	1.10mi
303 N Crigler St Charlotte, NC	2.0	1.0	700	$1,300	$1.86	6d	1	1.14mi
2020 Rush Wind Dr Charlotte, NC	2.0	1.0	700	$1,050	$1.50	25d	1	1.18mi
539 State St Charlotte, NC	1.0	1.0	506	$1,677	$3.31	5d	26	1.18mi
1813 Brewton Dr Charlotte, NC	2.0	1.0	690	$1,530	$2.22	18d	1	1.25mi
719 Gesco St Charlotte, NC	1.0–2.0	1.0–2.0	848	$1,570	$1.85	0d	11	1.26mi
718 Gesco St Charlotte, NC	—	1.0	523	$1,525	$2.92	16d	1	1.32mi
718 Gesco St Charlotte, NC	1.0	1.0	693	$1,830	$2.64	22d	1	1.32mi
2413 Woodward Ave Unit ADU Charlotte, NC	1.0	1.0	489	$1,300	$2.66	25d	1	1.37mi
2345 Carmine St #4 Charlotte, NC	2.0	1.0	715	$1,095	$1.53	25d	1	1.38mi
225 Hoskins Mill Ln Apt B Charlotte, NC	1.0	1.0	525	$825	$1.57	23d	1	1.40mi
2335 Carmine St #1 Charlotte, NC	2.0	1.0	715	$1,095	$1.53	19d	1	1.41mi
234 Hoskins Mill Ln Charlotte, NC	1.0	1.0	650	$895	$1.38	23d	1	1.45mi
308 Hoskins Mill Ln Charlotte, NC	1.0	1.0	550	$850	$1.55	25d	1	1.47mi

Listing history 25 events

1. 2026-06-18
   days on market $130,000 Active 114 DOM
2. 2026-06-17
   days on market $130,000 Active 113 DOM
3. 2026-06-16
   days on market $130,000 Active 112 DOM
4. 2026-06-15
   days on market $130,000 Active 111 DOM
5. 2026-06-13
   days on market $130,000 Active 109 DOM
6. 2026-06-10
   days on market $130,000 Active 105 DOM
7. 2026-06-08
   days on market $130,000 Active 104 DOM
8. 2026-06-07
   days on market $130,000 Active 103 DOM
9. 2026-06-04
   days on market $130,000 Active 100 DOM
10. 2026-06-03
    days on market $130,000 Active 99 DOM
11. 2026-06-02
    days on market $130,000 Active 98 DOM
12. 2026-06-02
    days on market $130,000 Active 97 DOM
13. 2026-05-31
    days on market $130,000 Active 96 DOM
14. 2026-05-05
    status Active
15. 2026-04-13
    status Pending
16. 2026-02-06
    status Active
17. 2026-01-14
    status Pending
18. 2026-01-09
    listed $130,000 Active
19. 2025-11-15
    listed $725
20. 2025-11-14
    historical $725
21. 2025-11-07
    price $725
22. 2025-11-01
    listed $750
23. 2025-11-01
    historical $695
24. 2024-11-01
    price $695
25. 2024-06-05
    listed $740

ⓘ 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: $993 · $83/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$73/yr (+$6/mo · 7.4%)

ⓘ 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 (shaded) · 99% 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 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: $13,638
• − Mortgage interest: −$7,282
• − Property taxes: −$993
• − Insurance: −$1,448
• − Repairs & maintenance: −$1,091
• − Management: −$1,091
• − Depreciation: −$3,782
• Taxable loss: −$2,048
• Est. tax savings @ 24.0%: +$492
• After-tax cash flow: $644/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

12 events — show timeline

• 2026-05-05 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-13 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-02-06 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-01-14 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-01-09 Listed $130,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-15 Listed for Rent $725 APPFOLIO
• 2025-11-14 Rental Removed $725 ZUMPER1
• 2025-11-07 Price Changed $725 ZUMPER1
• 2025-11-01 Listed for Rent $750 ZUMPER1
• 2025-11-01 Rental Removed $695 APPFOLIO
• 2024-11-01 Price Changed $695 APPFOLIO
• 2024-06-05 Listed for Rent $740 APPFOLIO

Property tax history

+6.9%/yr

Latest (2025): $993 · +3.3% YoY. Source: county tax records.